1. Summary Information
|
|
|
Country |
|
|
Company Name |
STERLING TOOLS
LIMITED |
Principal Name 1 |
Mr. M.L. Aggarwal |
|
Status |
Good |
Principal Name 2 |
Mr. Anil Aggarwal |
|
|
|
Registration # |
55-009668 |
|
Street Address |
A-40, Mohan
Co-operative, Industrial Estate, Mathura Road, New Delhi – 110044 |
||
|
Established Date |
07.06.1979 |
SIC Code |
-- |
|
Telephone# |
91-11-26990093 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Bolts Nuts |
|
|
# of employees |
Not Available |
Product Name 2 |
Screws Washers |
|
Paid up capital |
Rs.68,446,000/- |
Product Name 3 |
High Tensile Fasteners |
|
Shareholders |
Promoter and
Promoter Group – 69.46% Public
shareholding - 30.22 % |
Banking |
Oriental Bank of Commerce |
|
Public Limited Corp. |
YES |
Business Period |
33 Years |
|
IPO |
YES |
International Ins. |
- |
|
Public |
YES |
Rating |
Ba (53) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Joint
Venture Company |
-- |
Sterling Fabory India Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
581,484,000 |
Current Liabilities |
213,530,000 |
|
Inventories |
373,420,000 |
Long-term Liabilities |
769,690,000 |
|
Fixed Assets |
873,608,000 |
Other Liabilities |
150,291,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
1,133,511,000 |
|
Invest& other Assets |
17,746,000 |
Retained Earnings |
644,301,000 |
|
|
|
Net Worth |
712,747,000 |
|
Total Assets |
1,846,258,000 |
Total Liab. & Equity |
1,846,258,000 |
|
Total Assets (Previous Year) |
1,405,406,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
2,479,351,000 |
Net Profit |
157,299,000 |
|
Sales(Previous yr) |
1,795,253.000 |
Net Profit(Prev.yr) |
115,888,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
STERLING TOOLS LIMITED |
|
|
|
|
Registered
Office : |
A-40, Mohan Co-operative, Industrial Estate, Mathura Road, New Delhi –
110044 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.06.1979 |
|
|
|
|
Com. Reg. No.: |
55-009668 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.68.446 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29222DL1979PLC009668 |
|
|
|
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturers of High Tensile Forged Fasteners. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2900000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial
positions of the company appears to be sound. Trade relations are reported as
fair. Business is active. Payments are reported to be regulars 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
A-40, Mohan Co-operative, Industrial Estate, Mathura Road, New Delhi –
110044, India |
|
Tel. No.: |
91-11-26990093 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Plot No. 4, DLF Industrial Estate, Faridabad - 121 003, Haryana, India |
|
Tel. No.: |
91-129-2270621-25 |
|
Fax No.: |
91-129-2277359 |
|
|
|
|
Factory 1 : |
5-A, DLF Industrial Estate, Faridabad - 121 003, Haryana, India |
|
|
|
|
Factory 2 : |
48 K.M. Stone Delhi Mathura Road, Village-Prithla, Tehsil-Palwal
District Palwal, Haryana, India |
|
|
|
|
Factory 3 : |
81, Sector 25, Ballabhgarh, Faridabad, Haryana, India |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. M.L. Aggarwal |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Anil Aggarwal |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Atul Aggarwal |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Dr. T.N. Kapoor |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. K.R. Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. C.R. Sharma |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Vaishali Singh |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2011
|
Category of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4754023 |
69.46 |
|
|
4754023 |
69.46 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
4754023 |
69.46 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
22400 |
0.33 |
|
|
22400 |
0.33 |
|
|
|
|
|
|
327022 |
4.78 |
|
|
|
|
|
|
807702 |
11.80 |
|
|
899370 |
13.14 |
|
Any Others (Specify) |
34083 |
0.50 |
|
Clearing members |
8196 |
0.12 |
|
NRI/OCBs |
25887 |
0.38 |
|
|
2068177 |
30.22 |
|
Total Public
shareholding (B) |
2090577 |
30.54 |
|
Total (A)+(B) |
6844600 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
Total
(A)+(B)+(C) |
|
|
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal share
capital up to Rs.0.100 millionBUSINESS DETAILS
|
Line of Business : |
Manufacturers of High Tensile Forged Fasteners. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
High Tensile Fasteners |
MT |
Not applicable |
35,000.000 |
21,524.593 |
Note:
Installed Capacity, being a technical matter is taken on the basis of
certificate of the management.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
Oriental Bank of Commerce ·
HDFC Bank Limited. |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
Notes
: 1.
Bank Loans - Working
Capital loans are secured by hypothecation of Stock in Trade, Receivables,
Mortgage of Certain Land and Building, All plant and machinery and other
fixed assets and personal guarantee by some of the Directors of the Company. -
Other Term Loan are Secured by first mortgage of Certain Land and Building,
All Plant and Machinery including future Plant and Machine and other fixed
assets and hypothecation of Movable Assets, and personal guarantee by some of
the Directors of the Company. -
Term Loans (Including Working Capital Term Loan) repayable within one year
Rs. 106.496 Millions (Previous year : Rs.85.717 Millions) 2.
Vehicle Loans -
Secured by Hypothecation of respective Vehicles. - Repayable within one year Rs. 1.090 Millions ( Previous
year Rs. 1.994 Millions) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors / Statutory Auditor: |
|
|
Name : |
S.R. Dinodia and Company Chartered Accountants |
|
Address : |
K-39, Connaught Place, New Delhi - 110 001, India |
|
|
|
|
Internal Auditor : |
JRA and Associates Chartered Accountants |
|
Address : |
B-15 (LGF), G.K. Enclave – II, New Delhi – 110048, India |
|
|
|
|
Associates : |
·
Sterling Fincap Private Limited (Formerly
Precision Wire Products Private Limited ·
Haryana Ispat Private limited ·
Sterling Technologies Private Limited ·
Prism Global Creative Products Private Limited ·
Sterling Automobiles Private limited ·
Sterling Mobike Private Limited (Formerly Supreme
MetalForms Private Limited ·
Jaycee Automobiles Private limited ·
Sterling Metal Fabriks Private Limited ·
Anuradha Mittal Benefit Trust |
|
|
|
|
Joint Venture
Company : |
·
Sterling Fabory India Private Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,844,600 |
Equity Shares |
Rs.10/- each |
Rs.68.446 Millions |
|
|
|
|
|
Note:
Out of the above:
(1) 2,280,000 equity shares were allotted as fully paid up bonus shares
by capitalisation of general reserve.
(2) 3,422,300 equity shares were allotted as fullypaid up bonus shares by
capitalisation of Securities Premium Account.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
68.446 |
68.446 |
68.446 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
644.301 |
525.530 |
449.628 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
712.747 |
593.976 |
518.074 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
769.690 |
561.355 |
520.785 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
769.690 |
561.355 |
520.785 |
|
|
DEFERRED TAX LIABILITIES |
93.925 |
89.600 |
82.945 |
|
|
|
|
|
|
|
|
TOTAL |
1576.362 |
1244.931 |
1121.804 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
873.608 |
766.646 |
784.582 |
|
|
Capital work-in-progress |
0.246 |
4.016 |
4.842 |
|
|
|
|
|
|
|
|
INVESTMENT |
17.500 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
373.420
|
221.443 |
131.494 |
|
|
Sundry Debtors |
399.358
|
313.906 |
299.352 |
|
|
Cash & Bank Balances |
75.820
|
16.898 |
13.296 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
106.306
|
82.497 |
44.323 |
|
Total
Current Assets |
954.904
|
634.744 |
488.465 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
189.436
|
108.648 |
95.530 |
|
|
Other Current Liabilities |
24.094
|
22.199 |
32.455 |
|
|
Provisions |
56.366
|
29.628 |
28.100 |
|
Total
Current Liabilities |
269.896
|
160.475 |
156.085 |
|
|
Net Current Assets |
685.008
|
474.269 |
332.380 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1576.362 |
1244.931 |
1121.804 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2479.351 |
1795.253 |
1509.258 |
|
|
|
Other Income |
7.034 |
3.850 |
7.673 |
|
|
|
TOTAL (A) |
2486.385 |
1799.103 |
1516.931 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing & other expenses |
2018.849 |
1380.279 |
1201.207 |
|
|
|
Personnel Expenses |
201.460 |
164.301 |
139.326 |
|
|
|
(Accretion) / Reduction to Stock |
(98.651) |
(50.112) |
14.528 |
|
|
|
TOTAL (B) |
2121.658 |
1494.468 |
1355.061 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
364.727 |
304.635 |
161.870 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
63.852 |
55.315 |
70.450 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
300.875 |
249.320 |
91.420 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
64.266 |
62.907 |
61.484 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
236.609 |
186.413 |
29.936 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
79.310 |
70.525 |
12.764 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
157.299 |
115.888 |
17.172 |
|
|
|
|
|
|
|
|
|
Add/ (Less) |
Tax adjustments
for earlier years |
1.247 |
0.000 |
(1.189) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
358.347 |
294.446 |
286.471 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Provision for Final Dividend |
34.223 |
13.689 |
0.000 |
|
|
|
Provision for Tax on Final Dividend |
5.552 |
2.274 |
0.000 |
|
|
|
Interim Dividend Paid |
0.000 |
20.534 |
6.845 |
|
|
|
Tax paid on Interim Dividend |
0.000 |
3.490 |
1.163 |
|
|
|
Transfer to General Reserve |
16.000 |
12.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
461.118 |
358.347 |
294.446 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
126.883 |
57.260 |
62.961 |
|
|
TOTAL EARNINGS |
126.883 |
57.260 |
62.961 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
338.119 |
209.633 |
374.656 |
|
|
|
Stores & Spares |
24.004 |
21.568 |
36.949 |
|
|
|
Capital Goods |
83.094 |
9.796 |
23.645 |
|
|
TOTAL IMPORTS |
445.217 |
240.997 |
435.250 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.16 |
16.93 |
2.33 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 (1st
Quarter) |
30.09.2011 (2nd
Quarter) |
31.12.2011 (3rd
Quarter) |
|
Net Sales |
|
698.650 |
707.300 |
737.35 |
|
Total Expenditure |
|
599.440 |
618.280 |
624.330 |
|
PBIDT (Excl OI) |
|
99.210 |
89.020 |
113.020 |
|
Other Income |
|
0.000 |
0.000 |
0.000 |
|
Operating Profit |
|
99.210 |
89.020 |
113.020 |
|
Interest |
|
19.740 |
22.590 |
26.380 |
|
Exceptional Items |
|
0.000 |
0.000 |
0.000 |
|
PBDT |
|
79.470 |
66.430 |
86.640 |
|
Depreciation |
|
18.410 |
18.980 |
19.300 |
|
Profit Before Tax |
|
61.050 |
47.450 |
67.340 |
|
Tax |
|
19.870 |
13.730 |
22.440 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
|
41.190 |
33.720 |
44.900 |
|
Extraordinary Items |
|
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
0.000 |
|
Net Profit |
|
41.190 |
33.720 |
44.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.33
|
6.44 |
1.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.54
|
10.38 |
1.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.94
|
13.30 |
2.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.31 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.46
|
1.22 |
1.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.54
|
3.96 |
3.13 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
Review of
Operations
The Company recorded the total Net Sales Turnover amounting to Rs.
2479.351 Millions as compared to Rs. 1795.254 Millions in previous year giving
a growth of 38.11% approx. The profit after tax was higher by 35.73% at
Rs.157.299 Millions as compared to Rs. 115.888 Millions in Previous year.
The Company is continuously focusing on its core area of supplying
fasteners to Original Equipment Manufacturers (OEMs) all over India and efforts
have also been made for increasing the Company’s business share in Retail
Market from Rs. 23.490 Millions to Rs. 30.000 Millions showing a growth rate of
27.71%. Similarly the Company has also focused on its Export Sales which was
Rs.126.883 Millions (FOB value) for the financial year 2010-2011 as against Rs.
57.260 Millions (FOB value) showing a growth of 121.59%.
The Company has adequate production facilities with sole objective of
providing quality products at reasonable prices as well as satisfying the
interests of all stake holders in the Company.
The Company has projected a growth of 25% in the Total Sales Turnover
for the financial year 2011-2012
Management Discussion and Analysis Report
Industry
Structure and Developments
The development of Fasteners Industry is primarily dependent and closely
associated with the growth of automobile Industry in India.
As your company is engaged in the business of supply of all type of
fasteners to Original Equipment Manufacturers in India which constitute 75% of
Company’s sales, 20% sales are attributed to Retail Market and rest 5% is to
Exports.
Opportunities
The Indian Automobile
Industry is currently experiencing an unprecedented boom in demand for all
types of vehicles. This boom has been primarily triggered by two factors a) The
growth in the disposable incomes and standards of living of Middle Class (b)
The liberal policies of government of India which has resulted to growth in the
automobile industry in India. The Industry observers predict the growth of
passenger vehicles will grow more and more as the market rises and the
Customer’ purchasing ability rises. These growth trends encouraged the
Multinational Automobile Manufacturers from Japan, USA and Europe to enter into
Indian Automobile Market through Joint ventures.
All these growth trends
conclude that the future of Indian Automobile Industry is very bright and
simultaneously the growth of Fastener Industry will be in rising spirits.
Review of Operations
Net Sales for
the financial year ended March 31, 2011 at Rs. 2479.351 Millions did show an
increase of 38.11% against Rs. 1795.254 Millions for the previous financial
year despite enormous competition in automotive and other sector.
• Operating
profit, excluding other income was Rs. 357.693 Millions for the financial year
2010-2011 increased by 18.92% as compared Rs. 300.785 Millions for the
financial year 2009-2010.
• Operating margin
was 14.43% for the financial year 2010-2011 as against 16.75% for the financial
year 2009-2010.
• Other income was
Rs. 7.000 Millions for the financial year 2010-2011 increased by 82.70% as
against Rs. 3.900 Millions for the financial year 2009-2010.
• Interest
expenses were Rs. 59.000 Millions for the financial year 2010-2011 as against
Rs. 53.400 Millions for the financial year 2009-2010.
• Corporate tax liability
including Deferred, Fringe Benefit and Wealth Tax Liability for the financial
year was Rs. 79.309 Millions for the financial year 2010-2011 as against Rs.
70.525 Millions for the financial year 2009-2010.
• Net profit was
Rs. 157.300 Millions for the financial year 2010-2011 increased by 35.73% as
against Rs. 115.900 Millions for the financial year 2009-2010.
• Paid up equity
share capital as on March 31, 2011 stood at Rs. 68.446 Millions
• Earnings Per
share (EPS) for the year is Rs. 23.16/- for the financial year 2010-2011 as
against Rs. 16.93/- for the financial year 2009-2010.
• Cash Earnings
Per Share (CEPS) was Rs. 32.37 for the financial year 2010-2011 as against Rs.
26.12 for the financial year 2009-2010.
• STL has
contributed a foreign exchange to the tune of Rs. 126.883 Millions for the
financial year 2010-2011 as against Rs. 57.260 Millions for the financial year
2009-2010.
Fixed Assets:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fittings
·
Vehicles
·
Software
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.51.05 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.