MIRA INFORM REPORT
|
Report Date : |
30.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
EMMSONS INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
2637, 1st Floor, Naya Bazar, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.04.1993 |
|
|
|
|
Com. Reg. No.: |
55-053060 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 51.480 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1993PLC053060 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELE02927B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE0442K |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in the trading of commodities like
rice, sugar, wheat, steel, cotton, soya meal, metals, etc., and has business
interests in travel and tourism. |
|
|
|
|
No. of Employees
: |
78 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 3100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject belongs to the EMMSONS GROUP. It is an established company
having satisfactory track. Profitability of the company appears to be low. However, trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
August 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans : BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
August 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
2637, 1st Floor, Naya Bazar, Delhi – 110 006, India |
|
Tel. No.: |
91-11-22929341/ 22922810 |
|
Fax No.: |
91-11-22924234 |
|
E-Mail : |
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|
Website : |
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|
|
|
|
Administrative Office : |
101, South Delhi House 12, Zamarudpur Community Center Kailash Colony,
New Delhi – 110048, India |
|
Tel. No.: |
91-11-29247721 to 28 |
|
Fax No.: |
91-11-29247730/ 41632081 |
|
E-Mail : |
|
|
|
|
|
Foreign Offices : |
Ř
Emmsons
SA., Place du March 3, CP 156, 1860 Aigle, Switzerland Ř
Emmsons Gulf
DMCC, 3406, 1- Lake Plaza Plot No. T2, Jumeirah Lakes Towers,
Dubai, U.A.E. |
DIRECTORS
AS ON 31.03.2011
|
Name : |
Mr. Anil Monga |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Rajesh Monga |
|
Designation : |
Whole-time Director |
|
|
|
|
Name : |
Mr. Shivaz Monga |
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Mr. Vijay Kumar Kakkar |
|
Designation : |
Professional and
Independent Director |
|
|
|
|
Name : |
Mr. Viresh Shankar Mathur |
|
Designation : |
Professional and
Independent Director |
|
|
|
|
Name : |
Mr. Satish Chandra Gupta |
|
Designation : |
Professional and
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Hamant Paul |
|
Designation : |
General Manager [Finance] and Chief Finance Officer |
|
|
|
|
Name : |
Mr. Suvindra Kumar |
|
Designation : |
Company Secretary (w.e.f. 06th
July, 2009) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2012
|
Category
of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2868244 |
47.82 |
|
|
230250 |
3.84 |
|
|
3098494 |
51.66 |
|
|
|
|
|
|
10230 |
0.17 |
|
|
10230 |
0.17 |
|
Total shareholding of Promoter and Promoter Group (A) |
3108724 |
51.83 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
473174 |
7.89 |
|
|
|
|
|
|
702128 |
11.71 |
|
|
1466128 |
24.44 |
|
|
247866 |
4.13 |
|
|
9139 |
0.15 |
|
|
238727 |
3.98 |
|
|
2889296 |
48.17 |
|
Total Public shareholding (B) |
2889296 |
48.17 |
|
Total (A)+(B) |
5998020 |
100.00 |
|
© Shares held by Custodians and against which Depository Receipts have
been issued |
|
|
|
|
0 |
0 |
|
|
0 |
0 |
|
|
0 |
0 |
|
Total (A)+(B)+(C) |
5998020 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the trading of commodities like rice,
sugar, wheat, steel, cotton, soya meal, metals, etc., and has business
interests in travel and tourism. |
||||||||
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|
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
78 (Approximately) |
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|
Bankers : |
Ř Oriental Bank of Commerce, Overseas
Branch, M-33, Greater Kailash-II, New Delhi-110048, India Ř Allahabad Bank, International
Branch, 3rd Floor, 17, Parliament Street, New Delhi – 110001, India Ř Indian Overseas Bank, A-19/22,
Moolchand Shopping Complex, Defence Colony, New Delhi-110024, India Ř Bank of Baroda, 1st
Floor, 16, Parliament Street, New Delhi-110001, India Ř HDFC
Bank Ř ICICI
Bank Ř Standard
Chartered Bank |
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Facilities : |
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Kotak Mahindra Prime Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh and Associates Chartered Accountants |
|
Address : |
3A Bigjo's Tower, Netaji Subhash Place, Pitampura, Delhi-110034, India |
|
|
|
|
Subsidiaries : |
Ř Emmsons
S.A. Ř Emmsons
Gulf DMCC |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5148020 |
Equity Share |
Rs.10/- each |
Rs. 51.480
Millions |
|
|
|
|
|
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 |
51.480 |
51.480 |
51.480 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Share Warrants |
2.250 |
0.000 |
19.500 |
|
|
4] Reserves & Surplus |
728.686 |
622.904 |
485.270 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
782.416 |
674.384 |
556.250 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1903.365 |
1617.434 |
1312.453 |
|
|
2] Unsecured Loans |
0.000 |
43.413 |
0.000 |
|
|
TOTAL BORROWING |
1903.365 |
1660.847 |
1312.453 |
|
|
DEFERRED TAX LIABILITIES |
2.109 |
2.483 |
2.542 |
|
|
|
|
|
|
|
|
TOTAL |
2687.890 |
2337.714 |
1871.245 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
105.359 |
81.461 |
70.334 |
|
|
Capital work-in-progress |
6.724 |
4.875 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
62.305 |
64.697 |
35.712 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
994.583
|
1891.445 |
1201.562
|
|
|
Sundry Debtors |
2818.128
|
506.735 |
457.739
|
|
|
Cash & Bank Balances |
492.854
|
123.215 |
58.572
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
1350.348
|
1149.465 |
1213.500
|
|
Total
Current Assets |
5655.913
|
3670.860 |
2931.373
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3041.662
|
1365.373 |
857.614 |
|
|
Other Current Liabilities |
41.181
|
45.105 |
277.904 |
|
|
Provisions |
59.568
|
73.701 |
30.656
|
|
Total
Current Liabilities |
3142.411
|
1484.179 |
1166.174
|
|
|
Net Current Assets |
2513.502
|
2186.681 |
1765.199
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2687.890 |
2337.714 |
1871.245 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
13098.824 |
6386.827 |
6752.123 |
|
|
|
Other Income |
325.844 |
545.459 |
(199.118) |
|
|
|
TOTAL (A) |
13424.668 |
6932.286 |
6553.005 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
12257.953 |
6065.084 |
5478.252 |
|
|
|
Direct Expenses |
628.398 |
343.649 |
740.932 |
|
|
|
Office and Administrative Expenses |
81.588 |
80.920 |
62.519 |
|
|
|
Selling & Distribution Expenses |
6.895 |
6.781 |
9.029 |
|
|
|
Other Expenses |
19.268 |
21.129 |
21.185 |
|
|
|
TOTAL (B) |
12994.102 |
6517.563 |
6311.917 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
430.566 |
414.723 |
241.088 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
277.752 |
208.411 |
130.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
152.814 |
206.312 |
110.873 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.894 |
4.997 |
4.618 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
146.920 |
201.315 |
106.255 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
49.599 |
71.592 |
42.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
97.321 |
129.723 |
63.868 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
286.069 |
181.935 |
138.264 |
|
|
|
|
|
|
|
|
|
Less/ Add |
Short/ (Excess) Provision of Income Tax for earlier Years |
4.323 |
[0.457] |
4.174 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
7.300 |
14.000 |
10.000 |
|
|
|
Dividend |
10.296 |
10.296 |
5.148 |
|
|
|
Tax on Dividend |
1.670 |
1.750 |
0.875 |
|
|
BALANCE CARRIED TO
THE B/S |
359.801 |
286.069 |
181.935 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of Export Earnings |
3955.300 |
3054.400 |
4635.900 |
|
|
|
|
|
|
|
|
|
CIF
VALUE OF IMPORT |
930.000 |
2665.100 |
1267.900 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.90 |
25.20 |
12.41 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2011 |
30.09.2011 |
31.12.2011 |
31.03.2012 |
30.06.2012 |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
4th Quarter |
5th Quarter |
|
Sales Turnover |
3252.420 |
2969.950 |
7973.050 |
4802.600 |
5576.070 |
|
Total Expenditure |
3128.990 |
2846.880 |
7768.450 |
4654.370 |
5377.430 |
|
PBIDT (Excl
OI) |
123.430 |
123.070 |
204.600 |
148.230 |
198.640 |
|
Other Income |
0.000 |
0.030 |
0.020 |
51.190 |
22.340 |
|
Operating
Profit |
123.430 |
123.100 |
204.620 |
199.420 |
220.980 |
|
Interest |
100.730 |
94.200 |
137.240 |
159.430 |
153.100 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
20.000 |
0.000 |
|
PBDT |
22.700 |
28.900 |
67.380 |
59.990 |
67.880 |
|
Depreciation |
1.710 |
1.750 |
1.870 |
1.970 |
2.030 |
|
Profit
Before Tax |
20.980 |
27.150 |
65.510 |
58.010 |
65.840 |
|
Tax |
5.000 |
7.000 |
23.000 |
15.000 |
22.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Reported PAT |
15.980 |
20.150 |
42.510 |
43.010 |
43.840 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
15.980 |
20.150 |
42.510 |
43.010 |
43.840 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.72 |
1.87 |
0.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.12 |
3.15 |
1.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.55 |
5.37 |
3.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.30 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.45 |
4.66 |
4.46 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.80 |
2.47 |
2.51 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three 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 involved in |
-- |
|
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
Overview
The financial statements have been prepared in compliance
with the requirements of the Companies Act, 1956, guidelines issued by the Securities
and Exchange Board of India (SEBI) and the Generally Accepted Accounting
Principles (GAAP) in India.
The Management accepts responsibilities for the integrity
and objectivity of these financial statements, as well as for the various
estimates and judgments used therein. The estimates and Judgments relating to
the financial statements have been made on prudent and reasonable basis, so
that the financial statements reflect in a true and fair manner the form and
substance of transactions, and reasonably present our state of affairs, profit
and cash flows for the year.
Industry Structure
and Developments
Last year the Company raised its targets to higher levels to
be achieved in due course. The plans were made and efforts were put in to achieve
the set targets. The efforts turned this year into a remarkable year for the
Company, as the Company have achieved the significant increase in the terms of
Turnover and crossed the rupees thousand crore milestone first time in its
history.
This was achieved inspite of considerably high levels of
inflation in the country and the continued ban on export of major agri product.
The management remained positive, and put all its effort to achieve the higher
targets, which was significantly accomplished in this year.
When the performance improves, certain recognition also
follows. The Company has been ranked on 18th position amongst the 'India's
Fastest Growing Companies' in the Middleweight segment, as noted in
BUSSINESSWORLD Magazine of 23rd May, 2011.
This year has been the year of achievements, however we will
not rest on our laurels, and look forward to a further improved performance in
the years to come.
Future Directions
The Company's focus was shifted towards imports and third
country trade in the last year, which took the Company in the next phase of
growth and the results are noteworthy. Further impetus was provided by its UAE
subsidiary, which added more commodities and markets and contributed
significantly to the growth of the group. The company also expects substantial
contribution to its growth trajectory from Ukraine based agricultural farming
projects, with appointment of local professionals and experts. With these
initiatives the Company is very positive towards achieving greater heights in
the times to come and expects to be reckoned as a reputed multinational
Company.
Financial and
Operational Performance
Emmsons delivered superior financial performance with
improvements across key parameters and the turnover achieved for the year ended
March 31, 2011 was Rs. 13424.700 Millions as compared to Rs. 6932.300 Millions
for the last financial year.
SUBSIDIARY
COMPANIES
The Company has now presence in various countries of the
world through its subsidiaries and associates. The Management has very clear
vision to make the Company a global multinational in years to come. At present
the Company has following overseas presence through its subsidiaries:
UNITED
ARAB EMIRATES:
In the year 2009, the Company had established its
subsidiary, Emmsons Gulf DMCC in Dubai, UAE, The main activity of this Company
is International trading of various commodities and fertilizers.
In a short span of time, the subsidiary has been able to
establish itself well with focus on the Middle-East markets. The company has emerged
as mainstay of Emmsons Group in the lucrative Middle-East Markets.
SWITZERLAND:
The Emmsons SA, was established in the year 2007 in
Switzerland as a subsidiary of the Company with its main activity of
International Trading and Shipping, The Swiss subsidiary could not make much
headway during the year. However the Company visualizes to recover in current
financial year.
INTERNATIONAL
PROJECTS
INDONESIA:
The Company had entered into a Joint Venture in the year 2008,
for the purpose of acquiring Coal Mine(s) in Indonesia. Finally Emmsons Group
has acquired 25% stake in a coal mining project in Indonesia through Emmsons
Gulf DMCC. Your management considers the stake as a strategic asset, which will
lead our entry into the power sector.
UKRAINE:
During the year farming project in Ukraine has shown the
major progress, with appointment of local professionals and experts and expect
the fruitful outcomes from current financial year. Steps have been taken to
complete the structuring process and are likely to be completed in the coming
months.
AUDITED STANDALONE FINANCIAL RESULTS FOR THE YEAR ENDED MARCH 31, 2012
(Rs. In Millions)
|
Particular |
Year Ended |
|
|
31.03.2012 (Audited) |
|
Income from Operations |
|
|
Net Sales |
19067.316 |
|
Other Operating Income |
[100.579] |
|
Total Income from
operations (net) |
18966.737 |
|
|
|
|
Expenses |
|
|
(a) Cost of material consumed |
-- |
|
(b) Purchase of stock in trade |
18421.695 |
|
(c) Change in inventories of finished goods, work in progress and stock in trade |
[2007.190] |
|
(d) Employee benefit expenses |
83.261 |
|
(d) Depreciation and amortization expenses |
7.297 |
|
(e) Other Expenses |
|
|
Freight and Cartage |
1473.018 |
|
Other Expenses |
399.462 |
|
Total Expenses |
18377.543 |
|
Profit from Operations
before Other Income, Finance costs and Execeptional item |
589.194 |
|
Other Income |
86.007 |
|
Profit/ Loss from
Ordinary Activities before Finance costs and Execeptional item |
675.201 |
|
Finance costs |
524.136 |
|
Profit/ Loss from
Ordinary Activities after Finance costs but Execeptional item |
151.065 |
|
Execeptional
item |
20.573 |
|
Profit/ Loss from Ordinary Activities
before tax |
171.638 |
|
Tax Expenses |
49.916 |
|
Net Profit/ Loss from Ordinary Activities
after tax |
121.722 |
|
Extraordinary
Items |
-- |
|
Net Profit for the period |
121.722 |
|
Share of profit/ Loss of associates |
-- |
|
Minority interest |
-- |
|
Net Profit/ Loss after taxes, minority interest
and share of profit/ loss of associates |
121.722 |
|
Paid- up
Equity Share Capital (Face value
of the share – Rs. 10) |
59.980 |
|
Reserves
excluding revaluation reserves as per balance sheet of Previous Accounting
Year |
898.828 |
|
Earnings per share
(before extraordinary items) (of Rs. 10/-
each) (not annualized) -
Basic |
23.31 |
|
- Diluted |
23.31 |
|
Earnings per
share (after extraordinary items) (of Rs. 10/-
each) (not annualized) - Basic |
23.31 |
|
- Diluted |
23.31 |
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
1. Public
shareholding |
|
|
Number of
Shares |
2889296 |
|
Percentage of Shareholding |
48.17% |
|
2. Promoters
and promoter group shareholding |
|
|
a)
Pledged/Encumbered |
|
|
- Number of Shares |
1586990 |
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
51.05% |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
26.46% |
|
|
|
|
Non - encumbered |
|
|
- Number of
Shares |
1521734 |
|
- Percentage
of Shares (as a % of
the total shareholding of promoter and promoter
group) |
48.95% |
|
- Percentage
of Shares (as a % of
the total share capital of the company) |
|
NOTES:
- The above
results have been reviewed by the audit committee and taken on record at
the meeting of the Board of Directors held on 14th, August,
2012.
- The EPS has
been computed in accordance with the Accounting Standard 20, issued by the
ICAI.
- The figures
of previous year/ quarter have been regrouped, rearranged wherever
necessary to confirm with this year/ quarter classification.
- The Company
has global trading operation covering wide range of commodities like agro,
Minerals and others. In view of its integrated nature of business it is
necessary to view the business in its entirely and therefore, there are no
separate segment within the company as defined by Accounting Standard 17
[Segmenting Reporting] issued by the ICAI.
STANDALONE STATEMENT OF ASSETS
AND LIABILITIES
(Rs.
in Millions)
|
Particulars |
31.03.2012 |
|
|
A. EQUITY AND LIABILITIES |
Audited |
|
|
1.
Shareholders Funds |
|
|
|
a] Share Capital |
59.980 |
|
|
b] Reserves and Surplus |
898.828 |
|
|
c] Money received against share warrants |
-- |
|
|
|
|
|
|
2. Minority
Interest |
-- |
|
|
|
|
|
|
3. Non-current
Liabilities |
|
|
|
a] Long term Borrowings |
234.482 |
|
|
b] Deferred Tax Liabilities |
-- |
|
|
c] Other long term liabilities |
1.425 |
|
|
d] Long term provisions |
21.494 |
|
|
|
|
|
|
4. Current Liabilities |
|
|
|
a] Short term Borrowings |
5014.129 |
|
|
b] Trade Payables |
1255.288 |
|
|
c] Other Current Liabilities |
192.040 |
|
|
d] Short Term Provision |
57.665 |
|
|
|
|
|
|
TOTAL |
7735.331 |
|
|
|
|
|
|
B ASSETS |
|
|
|
1. Non-current assets |
|
|
|
a] Fixed assets |
|
|
|
133.617 |
|
|
0.303 |
|
|
0.742 |
|
|
b] Non-current investments |
59.594 |
|
|
c] Deferred tax assets |
1.164 |
|
|
d] long Term loans and Advances |
142.098 |
|
|
e] Other non-current assets |
20.588 |
|
|
|
|
|
|
2.
CURRENT ASSETS |
|
|
|
|
Current Investments |
21.567
|
|
|
Inventories |
3001.773
|
|
|
Trade Receivables |
2425.363
|
|
|
Cash & Bank Balances |
557.690
|
|
|
Short Term loans and advances |
1024.355
|
|
|
Other Current Assets |
346.477
|
|
|
|
|
|
TOTAL |
7735.331 |
|
CONTINGENT
LIABILITIES:
(Rs. In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
|
a) Guarantees to sales tax
authorities |
0.590 |
0.590 |
|
b) Corporate Guarantees for
Credit facilities to subsidiary |
1525.404 |
289.350 |
|
c) Letter of Credit issued for
purchases |
742.757 |
86.250 |
|
d) Other Guarantees |
352.363 |
82.743 |
e) The
Entry Tax demands Rs. 1.143 Millions raised by the authorities have been
protested by the company and final determination is yet to be made by the appellate
authorities. The company has however made the payment against these demands
under protest and the same is included in the list of Loans and advances. In
the event case is finally decided against the Company the said amount of Rs.
1.143 Millions shall be required to be charged as an expense to Profit and Loss
account.
f) Tax
Demand totaling Rs. 0.860 Millions for Assessment year 2004-2005 raised by the
Income Tax Department is being contested by the Company in appeal. No provision
has been made for the liability in the accounts under report. Other Tax demand
of Rs. 1.011 Millions for Assessment Year 2008-2009 raised by Income Tax
Department is under rectification for apparent error.
FIXED
ASSETS:
Ř Land
Ř Building
Ř Plant
and Machinery
Ř Furniture
and Fixture
Ř Vehicles
Ř Computers
Ř Office
Equipments and Fittings
Ř Generator
Ř Website
Development Charges
Ř Trade
Mark
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 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. 55.67 |
|
|
1 |
Rs. 88.05 |
|
Euro |
1 |
Rs. 69.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.