MIRA
INFORM REPORT
|
Report Date : |
30.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
LOHIA STARLINGER LIMITED (w.e.f. 31.12.1987) |
|
|
|
|
Formerly Known As : |
LOHIA STARLINGER PRIVATE LIMITED |
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Registered Office : |
D-3/ A, Panki Industrial Estate, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
05.10.1981 |
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|
|
|
Com. Reg. No.: |
20-5446 |
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|
Capital Investment / Paid-up Capital : |
Rs.50.715 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U29263UP1981PLC005446 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KNPL00020G / KNPL01083F / KNPL00108D |
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|
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PAN No.: [Permanent
Account No.] |
AAACL2470J |
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|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturing of Spinning Machines for Plastic Woven Fabric and
Textile Industry. |
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|
No. of Employees : |
Around 1000 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
A (58) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 6800000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. Trade relations are
reported as fair. Business is active. Payments are reported to be regular and
as per commitments. The company can be considered normal for business 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 Office / Head Office / Factory : |
D-3/ A, Panki Industrial Estate, |
|
Tel. No.: |
91-512-282001-9 / 2211221 (7 lines ) / 2272001 to 2272009/ 3045100 /
2691221 |
|
Fax No.: |
91-512-282012 / 282205 / 2211249 / 2822149 / 3045599 / 3045299 |
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E-Mail : |
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Website : |
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Area : |
Owned |
|
Location : |
Industrial Area |
|
|
|
|
Factory 2 : |
Dercitex Components Manufacturing Company, 446-48/49, Mallwan,
Chaubeypur, District |
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|
|
|
Factory 3 : |
Lohia Packing Machinery, 443-445/A, Mallwan, Chaubeypur, District |
|
Tel No.: |
91-5112-282001 |
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Fax No.: |
91-5112-282205 |
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|
|
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Factory 4: |
Lohia Packing Machinery, 910/4/3/1, Dok Mardi Amli, Silvassa – 396
230, |
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|
|
|
Factory 5 : |
Lohia Machinery Manufacturers, 499-500/A, Amilika, Chaubeypur,
District |
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|
Factory 6 : |
Lohia Industrial Complex Chaubepur, |
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Tel. No.: |
91-5112-282001 |
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Fax No.: |
91-5112-282205 |
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|
|
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Branches : |
Located at : ·
60, Trivenipark Bungalow, Auda Staff Soceity, Opposite
Surdhara Bungalow, Drive-In, Ahmedabad – 380 052, Tel No. 91-79-27450943 Fax No. 91-79-27450963
·
544, 9th Cross, 7th
Main, Sadhasivnagar, Tel No. 91-80-3340429 Fax No. 91-80-3344795
·
F-38, Tel No. 91-22-22184449 Fax No. 91-22-22187578
·
B-2/15, Safdarjung Enclave, Tel No. 91-11-26163281 Fax No. 91-11-26195476 |
DIRECTORS
As on 24.12.2010
|
Name : |
Mr. Gopal Chandra Lohia |
|
Designation : |
Director |
|
Address : |
7/153-B, Swaroop Nagar, |
|
Date of Birth/Age : |
05.07.1937 |
|
Date of Appointment : |
04.04.1983 |
|
DIN No.: |
00203506 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U29269UP1982PTC005581 |
Lohia
Engineering Works Private Limited |
Director |
06-03-82 |
06-03-82 |
Strike off |
NO |
|
2 |
U29263UP1981PLC005446 |
Lohia starlinger
limited. |
Director |
04-04-83 |
04-04-83 |
Active |
NO |
|
3 |
U17116UP1983PLC006119 |
Threads ( |
Managing
director |
01-03-11 |
16-05-86 |
Active |
NO |
|
4 |
U17115UP1987PLC009240 |
Lohia Packaging
Machines Limited |
Director |
31-12-87 |
31-12-87 |
Active |
NO |
|
Name : |
Mr. Rajendra Kumar Newatia |
|
Designation : |
Director |
|
Address : |
7/96, Tilak Nagar, |
|
Date of Birth/Age : |
01.01.1945 |
|
Date of Appointment : |
05.10.1981 |
|
DIN No.: |
00496537 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
L65993UP1983PLC005938 |
Lohia Investment
Limited |
Director |
15-04-83 |
15-04-83 |
- |
Active |
NO |
|
2 |
U29263UP1981PLC005446 |
Lohia starlinger
limited. |
Director |
01-01-84 |
01-01-84 |
- |
Active |
NO |
|
3 |
U27310UP1988PTC009989 |
R.K.Forged
Blanks Private Limited |
Director |
01-09-88 |
01-09-88 |
29-06-11 |
Active |
NO |
|
4 |
U25208UP1994PTC017250 |
R. K. Convertors
private limited |
Director |
06-12-94 |
06-12-94 |
16-07-07 |
Active |
NO |
|
|
|
|
Name : |
Mr. Raj Kumar Lohia |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
113/91, Swaroop Nagar, |
|
Date of Birth/Age : |
21.08.1954 |
|
Qualification : |
B.A. (Economics) |
|
Date of Appointment : |
05.10.1981 |
|
DIN No.: |
00203659 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U29263UP1981PLC005446 |
Lohia Starlinger
Limited. |
Managing
director |
27-11-08 |
05-10-81 |
- |
Active |
NO |
|
2 |
U24139UP1985PLC006983 |
Lohia Sales And
Services Limited |
Director |
31-01-85 |
31-01-85 |
- |
Active |
NO |
|
3 |
U17115UP1987PLC009240 |
Lohia Packaging
Machines Limited |
Director |
31-12-87 |
31-12-87 |
- |
Active |
NO |
|
4 |
U29261UP1995PTC018782 |
Kanupriya
Enterprises Private Limited |
Director |
25-09-95 |
25-09-95 |
15-05-10 |
Active |
NO |
|
5 |
U27120MH1971PLC015334 |
Rohit Polytex
Limited |
Director |
10-08-98 |
10-08-98 |
08-10-07 |
Active |
NO |
|
6 |
U29261UP2002PLC026468 |
Lohia Filament
Machines Limited |
Director |
29-01-02 |
29-01-02 |
- |
Active |
NO |
|
7 |
L17229UP1994PLC017199 |
J. K. Cement
Limited. |
Director |
30-09-04 |
30-09-04 |
- |
Active |
NO |
|
8 |
L27100MH1961PLC011936 |
Bajaj Steel Industries
Limited |
Director |
18-10-07 |
18-10-07 |
- |
Active |
NO |
|
9 |
U91110UP1932NPL000467 |
Merchant Chamber
Of Uttar Pradesh |
Director |
30-09-09 |
30-09-09 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Vinay Sah |
|
Designation : |
Whole Time Director |
|
Address : |
Anand Shubh Dham, No.9. 7/213, Swaroop Nagar, |
|
Date of Birth/Age : |
23.05.1955 |
|
Date of Appointment : |
01.01.1997 |
|
DIN No.: |
00203790 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U67120UP1993PLC015144 |
LSL Employees
Holdings Limited |
Director |
25-02-93 |
25-02-93 |
Active |
NO |
|
2 |
U29263UP1981PLC005446 |
Lohia Starlinger
Limited. |
Whole-time
director |
01-01-97 |
01-01-97 |
Active |
NO |
|
|
|
|
Name : |
Mr. Anurag Kumar Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
Saket, 3A/ 88, Azad Nagar, |
|
Date of Birth/Age : |
18.05.1969 |
|
Date of Appointment : |
27.07.2002 |
|
DIN No.: |
00205680 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current designation
of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U51109UP1994PTC016899 |
Lohia
Enterprises Private Limited |
Director |
07-09-94 |
07-09-94 |
10-09-07 |
Active |
NO |
|
2 |
U24139UP1985PLC006983 |
Lohia Sales And
Services Limited |
Director |
13-08-96 |
13-08-96 |
- |
Active |
NO |
|
3 |
U29236UP1997PTC022404 |
Shri Industries
And Engg. Works private limited |
Director |
01-08-97 |
01-08-97 |
13-07-09 |
Active |
NO |
|
4 |
U19129UP2001PTC025936 |
L R Moulds
Private Limited |
Director |
14-03-01 |
14-03-01 |
10-09-07 |
Active |
NO |
|
5 |
U29261UP2002PLC026468 |
Lohia Filament
Machines Limited |
Director |
29-01-02 |
29-01-02 |
- |
Active |
NO |
|
6 |
U29263UP1981PLC005446 |
Lohia Starlinger
Limited. |
Whole-time
director |
27-07-02 |
27-07-02 |
- |
Active |
NO |
|
7 |
U55101UP1974PLC003938 |
Purple
Entertainment Limited |
Director |
31-07-02 |
31-07-02 |
- |
Active |
NO |
|
8 |
U18101DL2002PTC117615 |
Texplus Fibres
Private Limited |
Director |
08-11-02 |
08-11-02 |
- |
Active |
NO |
|
9 |
U72200UP2000PTC025199 |
Divine Wellness
Private Limited |
Director |
28-07-09 |
15-11-08 |
- |
Active |
NO |
|
|
|
|
Name : |
Mr. Prakash Chandra Joshi |
|
Designation : |
Whole Time Director |
|
Address : |
C-312 Seikh Sarai, Phase 1, Malaviya Nagar, |
|
Date of Birth/Age : |
14.11.1957 |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
01255000 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Date of
cessation |
Company Status |
Defaulting
status |
|
1 |
U25209MH1997PTC134840 |
ASB
International Private Limited |
Director |
09-06-06 |
09-06-06 |
16-08-07 |
Active |
NO |
|
2 |
U29263UP1981PLC005446 |
Lohia Starlinger
Limited. |
Whole-time
director |
26-12-09 |
01-04-09 |
- |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Arvind Kumar Bhargava |
|
Designation : |
Company Secretary |
|
Address : |
107 Bima Vihar, Lakhanpur, |
|
Date of Birth/Age : |
23.03.1963 |
|
Date of Appointment : |
16.05.1995 |
|
PAN No.: |
ACIPB6172E |
|
Tel. No. : |
91-512-2582698 |
|
Email : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.12.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vinay Sah |
|
240 |
|
Raj Kumar Lohia |
|
104000 |
|
Anurag Kumar Lohia |
|
64000 |
|
Gopal Chandra Lohia |
|
100000 |
|
Rajendra Kumar Newatia |
|
80 |
As on 24.12.2010
|
Names of Shareholders |
Percentage |
|
Foreign Holdings (foreign institutional investors, foreign companies,
foreign financial institutions, non-resident Indian or overseas corporate
bodies or others) |
36.65 |
|
Bodies corporate |
43.27 |
|
Directors or relatives of directors |
17.35 |
|
Other top fifty (50) shareholders (other than listed above) |
0.49 |
|
Others |
2.24 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Spinning Machines for Plastic Woven Fabric and
Textile Industry. |
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|
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Products : |
|
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Woven Sack |
|
|
|
|
|
Machinery for manufacture of Woven Plastic Fabrics |
Nos. |
NA |
23198 |
25847 |
|
Machinery for processing of Man Made Yarns |
Nos. |
NA |
72 |
19 |
As the licensing requirement has been dispensed by the Govt. of
GENERAL INFORMATION
|
No. of Employees : |
Around 1000 Approximately |
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|
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Bankers : |
·
State Bank of Overseas Branch, Virendra Smriti Complex,
15/54 – B, Civil Lines, ·
State Bank of Co-operative Industrial Estate Branch, ·
Canara Bank 16/98, The Mall, ·
HDFC Bank Limited |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
Notes Working Capital
Loans Secured by hypothecation of whole of the Current Assets namely,
stock-in-trade consumables, stores and spares, book-debts, and all other
movables, both present and future. Further secured by a charge on specified
fixed assets as collateral security, Working capital facilities are also
guaranteed by Managing Director and one Director. |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Pariek and Garg Chartered Accountants |
|
Address : |
33 Anand Bazar, Swaroop Nagar, |
|
Tel. No.: |
91-512-2214829 |
|
|
|
|
Associates : |
Lohia Hong Kong Limited |
|
|
|
|
Subsidiaries : |
·
Lohia Sales and Services Limited CIN: U24139UP1985PLC006983 ·
Lohia Packaging Machines Limited CIN: U17115UP1987PLC009240 ·
Lohia Filament Machines Limited CIN: U29261UP2002PLC026468 ·
Divine Wellness Private Limited CIN: U72200UP2000PTC025199 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Share |
Rs.10/- Each |
Rs.120.000 millions |
Issued, Subscribed Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5075000 |
Equity Share |
Rs.10/- Each |
Rs.50.750
millions |
|
|
Less : Calls unpaid |
|
Rs.0.035
millions |
|
|
Total |
|
Rs.50.715 millions |
Note
Of the above shares
·
4250000 shares were
allotted as fully paid-up bonus shares by capitalization of General Reserve.
·
400000 shares were allotted
as fully paid-up shares, consequent to the merger of Lohia Machinery
Manufacturers Limited, to the shareholders of Lohia Machinery Manufacturers
Limited.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
50.715 |
50.715 |
50.715 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1660.419 |
1311.974 |
1181.475 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1711.134 |
1362.689 |
1232.190 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
189.187 |
474.939 |
484.684 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
189.187 |
474.939 |
484.684 |
|
|
DEFERRED TAX LIABILITIES |
39.569 |
51.896 |
44.891 |
|
|
|
|
|
|
|
|
TOTAL |
1939.890 |
1889.524 |
1761.765 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
951.430 |
1030.905 |
884.423 |
|
|
Capital work-in-progress |
16.354 |
21.538 |
108.447 |
|
|
|
|
|
|
|
|
INVESTMENT |
192.870 |
114.975 |
117.646 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
966.708
|
772.188
|
792.927 |
|
|
Sundry Debtors |
195.366
|
207.030
|
238.996 |
|
|
Cash & Bank Balances |
73.964
|
25.053
|
22.172 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
312.841
|
189.358
|
252.179 |
|
Total
Current Assets |
1548.879
|
1193.629
|
1306.274 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
466.491
|
288.938 |
380.063 |
|
|
Other Current Liabilities |
286.802
|
170.817
|
238.003 |
|
|
Provisions |
16.350
|
11.768
|
36.959 |
|
Total
Current Liabilities |
769.643
|
471.523
|
655.025 |
|
|
Net Current Assets |
779.236
|
722.106
|
651.249 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1939.890 |
1889.524 |
1761.765 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales |
3806.809 |
3570.395 |
3092.220 |
|
|
|
Other Operating Income |
115.138 |
4.516 |
58.506 |
|
|
|
Finance and Other Income |
43.447 |
(0.881) |
83.640 |
|
|
|
TOTAL (A) |
3965.394 |
3574.030 |
3234.366 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods and Power Consumed |
2380.174 |
2311.374 |
2133.769 |
|
|
|
Payments to and Provision for Employees |
379.587 |
307.614 |
253.676 |
|
|
|
Manufacturing, Administrative, Selling and Other Expenses |
605.996 |
552.541 |
439.860 |
|
|
|
TOTAL (B) |
3365.757 |
3171.529 |
2827.305 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
599.637 |
402.501 |
407.061 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
21.755 |
31.614 |
34.935 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
577.882 |
370.887 |
372.126 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
139.921 |
136.380 |
119.489 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
437.961 |
234.507 |
252.637 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
141.655 |
94.733 |
92.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
296.306 |
139.774 |
160.562 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1059.820 |
920.046 |
759.484 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1356.126 |
1059.820 |
920.046 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of exports |
1015.075 |
1114.051 |
1083.984 |
|
|
|
Job Charges |
0.005 |
0.000 |
0.848 |
|
|
|
Interest |
0.003 |
0.000 |
0.715 |
|
|
|
Other Income |
0.153 |
5.383 |
0.000 |
|
|
TOTAL EARNINGS |
1015.236 |
1119.434 |
1085.547 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Components |
556.825 |
386.701 |
438.070 |
|
|
|
Capital Goods |
16.854 |
56.490 |
84.683 |
|
|
|
Stores and Spares |
0.094 |
0.361 |
0.067 |
|
|
TOTAL IMPORTS |
573.773 |
443.552 |
522.820 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
58.39 |
27.54 |
32.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
7.47 |
3.91 |
4.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.50 |
6.57 |
8.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.52 |
10.54 |
11.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.17 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.56 |
0.69 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01 |
2.53 |
1.99 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE AND OUTLOOK FOR THE FUTURE
The year 2009-10 started on a rather cautions
note against the backdrop of the global meltdown, however, during the latter half
of the year Indian economy witnessed marked turnaround. The company achieved a
turnover, net of excise, of Rs.3806.800 millions as against previous year
turnover of Rs.3570.400 millions. Operating Profit increased to Rs.599.700
millions against Rs.402.500 millions of last year, mainly on account of
increased focus on value added products segment coupled with new launches and
advantage of favourable currency movements on export sales.
With Indian economy showing healthy trend
witnessing double digit growth in industrial production, the Company is well
poised to take full advantages of emerging opportunities. Dumping of machines
from
Being a global supplier of machines for
Plastic Woven Fabric Industry, the Company continuously assesses customer needs
to develop new products which earlier better value to customers. The Directors
are confident of the company maintaining its lead position and achieving still
better working results in the times to come.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of charge |
|
Charge identification number of the modified |
90268857 |
|
Corporate identity number of the company |
U29263UP1981PLC005446 |
|
Name of the company |
LOHIA STARLINGER LIMITED |
|
Address of the registered office or of the principal place of business in |
D-3/ A, Panki Industrial Estate, |
|
Type of charge |
·
Immovable property ·
Book debts ·
Movable property (not being pledge) ·
Floating charge |
|
Particular of charge holder |
State Bank of Overseas Branch, Virendra Smriti Complex, 15/54 – B, Civil Lines, |
|
Nature of description of the instrument creating or modifying the
charge |
Joint Deed Of Hypothecation |
|
Date of instrument Creating the charge |
31.01.2011 |
|
Amount secured by the charge |
Rs.1320.000 millions |
|
Brief particulars of the principal terms an conditions and extent and
operation of the charge |
Rate of interest Cash Credit @3.25% above base rate present effective rate i.e.11.25%
p.a. Terms of repayment Payable on demand Margin As per arrangement letter of state Bank of India dated 28th January,
2011, as amended from time to time. Extent and operation of the charge Pari-passu first charge on current assets of the company including raw
materials, components, stock in process, finished goods, stores and spares,
receivables and all other current assets present and future. Pari-passu second charge on specified
fixed assets of the company. Others Name of consortium member banks having pari-passu charge: State Bank of HDFC Bank Limited, Civil Lines, Canara Bank Limited, |
|
Short particulars of the property charged |
Plot No.499A, 499B, 500A and 500B All above situated at Village, Amiliha, Tehshil Bilhaur, |
|
Date of latest modification prior to the present modification |
Working capital limits enhanced from Rs.870.000 millions to
Rs.1320.000 millions to the joint deed of hypothecation. |
CONTINGENT LIABILITIES
|
Particulars |
(As on
31.03.2010) Rs. in millions |
|
Liability for Bills discounted from banks
against letter of credit |
55.089 |
|
Claims against the Company not acknowledged
as debts |
6.604 |
|
Future liability, if any, for performance
guarantees to customers for machines supplied |
Amount not ascertainable |
|
In respect of counter guarantees given to
banks against guarantees given by them |
26.310 |
|
Demand of Income Tax, Central Excise and
Service Tax which the Company has not admitted and is contested |
9.720 |
FIXED ASSETS
·
Land – Freehold
·
Land – Leasehold
·
Buildings
·
Plant and Machinery
·
Computer Installation
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
WEB DETAILS
PROFILE
Subject started in the year 1981 to address the flexible
packaging needs of various sectors of industry in
Over the years many breakthroughs were developed in-house at their Hargovind Bajaj R and D Centre. Some of the new products developed are recognized revolutionary concept in the industry. Having established strong position at home in the Indian market in 1996, it was decided to establish their global sales network.
Today their products are in service of raffia industry in more than 60 countries. Such a tremendous performance was made possible by visionary leadership and dedicated team of skilled engineers and technologists supported by 1500 strong workforce.
Customer's satisfaction by delivering quality products has been the corner stone of Lohia Group. The group, therefore, believes in manufacturing of all critical and precision components in-house. The production facilities of the group companies are equipped with high precision machine tools and managed by a team of well qualified and experienced engineers and technicians.
Research and Development has always been the focus and strength of the company. This effort has helped the industry by many innovative products and technologies.
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.48.93 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
58 |
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.