MIRA INFORM REPORT
|
Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARMS PAPER LIMITED (w.e.f. 24.6.2009) |
|
|
|
|
Formerly Known
as : |
CONTECH SOFTWARE LIMITED |
|
|
|
|
Registered Office
: |
604, Avdhesh House, Opposite
Shri Guru Govind Gurudwara, S. G. Highway, Thal Tej, Ahmedabad, -
380054, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.03.1983 |
|
|
|
|
Com. Reg. No.: |
04 - 006041 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 55.040 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21098GJ1983PLC006041 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMC00755G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC7751R |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s shares are listed on
Stock Exchange. |
|
|
|
|
Line of Business
: |
Trading of paper products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 220000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. In the
current year these appears slight fall in the sales and profitability. The
company has a moderate scale of business operation. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
604, Avdhesh House, Opposite. Shri Guru Govind Gurudwara,
SG Highway, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Fax No.: |
91-79-26859223 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 26.07.2012
|
Name : |
Mr. Jamna Prasad Maheshwari |
|
Designation : |
Chairman-cum-Managing Director |
|
Experience : |
36 Year’s |
|
|
|
|
Name : |
Mr. Hemant Mehta |
|
Designation : |
Non-Executive Director |
|
Experience : |
15 Year’s |
|
|
|
|
Name : |
Mr. Arvind Baldwa |
|
Designation : |
Non-Executive Director |
|
Experience : |
15 Year’s |
|
|
|
|
Name : |
Mr. Nikhil Rajpuria |
|
Designation : |
Independent Director |
|
Experience : |
5 Year’s |
|
|
|
|
Name : |
Mr. Nishant Kumar |
|
Designation : |
Independent Director |
|
Experience : |
5 Year’s |
|
|
|
|
Name : |
Mr. Kirit Patel |
|
Designation : |
Independent Director |
|
Experience : |
10 Year’s |
KEY EXECUTIVES
|
Name : |
Mr. Alpesh Gandhi |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
921274 |
16.7 |
|
Sub
Total |
921274 |
16.7 |
|
(2)
Foreign |
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
921274 |
16.7 |
|
|
|
|
|
(1)
Institutions |
|
|
|
(2)
Non-Institutions |
|
|
|
|
900795 |
16.32 |
|
|
|
|
|
Individual shareholders
holding nominal share capital up to Rs. 0.100 Millions |
1398471 |
25.34 |
|
|
2260163 |
40.96 |
|
Any
Others (Specify) |
37497 |
0.68 |
|
Non Resident Indians |
520 |
0.01 |
|
|
36462 |
0.66 |
|
Clearing Members |
515 |
0.01 |
|
Sub
Total |
4596926 |
83.3 |
|
Total
Public shareholding (B) |
4596926 |
83.3 |
|
Total
(A)+(B) |
5518200 |
100 |
|
|
0 |
0 |
|
(1)
Promoter and Promoter Group |
0 |
0 |
|
|
0 |
0 |
|
Sub
Total |
0 |
0 |
|
Total
(A)+(B)+(C) |
5518200 |
0 |
BUSINESS DETAILS
|
Line of Business : |
Trading of paper products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||
|
|
|
|||||||||
|
Bankers : |
·
Indian Overseas Bank ·
Corporation Bank |
|||||||||
|
|
|
|||||||||
|
Facilities : |
Nature of
security and terms of repayment for secured borrowings Vehicle Loan ; Term Loan from Financial Institution was taken during the year
2009-2010 carring rate of interest @ 10.57% p.a. and is to be repayable in 36
equal monthly installments starting from August 2009. The loan is secured by
hypothecation of vehicle. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Talati and Talati Chartered Accountant |
|
Address : |
Ahmedabad – 380054, Gujarat |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs. 60.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5518200 |
Equity Shares |
Rs.10/- each |
Rs. 55.182
Millions |
|
|
Less : Calls In arrears-by others |
|
Rs. 0.142
Millions |
|
|
|
|
Rs. 55.040 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
55.040 |
55.040 |
55.040 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
15.059 |
12.956 |
7.661 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
70.099 |
67.996 |
62.701 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.062 |
12.288 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.062 |
12.288 |
|
|
DEFERRED TAX LIABILITIES |
0.027 |
0.079 |
0.073 |
|
|
|
|
|
|
|
|
TOTAL |
70.126 |
68.137 |
75.062 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.330 |
0.445 |
0.600 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
5.539 |
0.000 |
|
|
Sundry Debtors |
39.960
|
5.224 |
16.088 |
|
|
Cash & Bank Balances |
0.221
|
0.627 |
0.060 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
61.595
|
66.902 |
59.967 |
|
Total
Current Assets |
101.776
|
78.292 |
76.115 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.536
|
9.959 |
1.653 |
|
|
Other Current Liabilities |
0.746
|
0.201 |
0.000 |
|
|
Provisions |
0.698
|
0.440 |
0.000 |
|
Total
Current Liabilities |
31.980
|
10.600 |
1.653 |
|
|
Net Current Assets |
69.796
|
67.692 |
74.462 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
70.126 |
68.137 |
75.062 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
96.923 |
128.005 |
206.531 |
|
|
|
Other Income |
1.372 |
5.254 |
1.394 |
|
|
|
TOTAL (A) |
98.295 |
133.259 |
207.925 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase on Stock-in-Trade |
86.088 |
129.231 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
5.539 |
(5.539) |
189.522 |
|
|
|
Employee benefits charges |
1.528 |
1.298 |
|
|
|
|
Other expenses |
1.970 |
1.943 |
|
|
|
|
TOTAL (B) |
95.125 |
126.933 |
189.522 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.170 |
6.326 |
18.403 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.020 |
0.869 |
2.951 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.150 |
5.457 |
15.452 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.115 |
0.156 |
0.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
3.035 |
5.301 |
15.332 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.934 |
0.006 |
0.070 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2.101 |
5.295 |
15.262 |
|
|
|
|
|
|
|
|
|
|
Basic |
0.38 |
0.96 |
2.98 |
|
|
|
Diluted |
0.38 |
0.96 |
2.98 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2012 |
30.09.2012 |
|
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
|
7.180 |
7.210 |
|
Total Expenditure |
|
|
7.500 |
7.520 |
|
PBIDT (Excl OI) |
|
|
(0.320) |
(0.310) |
|
Other Income |
|
|
1.040 |
1.100 |
|
Operating Profit |
|
|
0.710 |
0.790 |
|
Interest |
|
|
0.000 |
0.000 |
|
Exceptional Items |
|
|
0.000 |
0.000 |
|
PBDT |
|
|
0.710 |
0.790 |
|
Depreciation |
|
|
0.020 |
0.020 |
|
Profit Before Tax |
|
|
0.690 |
0.770 |
|
Tax |
|
|
0.270 |
0.250 |
|
Provisions and contingencies |
|
|
0.000 |
0.000 |
|
Profit After Tax |
|
|
0.420 |
0.520 |
|
Extraordinary Items |
|
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
0.000 |
|
Other Adjustments |
|
|
0.000 |
0.000 |
|
Net Profit |
|
|
0.420 |
0.520 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.14
|
3.97 |
7.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.13
|
4.14 |
7.42 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97
|
6.73 |
19.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.08 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.46
|
0.15 |
0.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.18
|
7.39 |
46.05 |
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 |
No |
|
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 |
No |
|
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 |
No |
OPERATIONS:
The Company has earned a total revenue of Rs.
98.295 Millions as compared to Rs.
133.260 Millions in the previous year. The total
expenditure incurred during the year was Rs. 95.260 Millions as
compared to Rs. 127.959 Millions in
the previous year. The Net Profit after taxation during the
year under review is Rs. 2.102 Millions as compared to Rs.
5.296 Millions in the previous year.
The Directors are exploring
various new business opportunities that will enable the Company to improve its financial
position.
Global scenario of Paper Industry: Paper industry plays a very prominent role in World economy-Annual revenue from this sector exceeds USD 500 Bn. World Consumption of Paper and Boards grew from 169 Mn tones in 1981, to 250 Mn tones in 1993, to 352 Mn tones in 2005 and to 390 Mn tones currently. Global Paper manufacturing industry is largely dominated by North America, Western Europe and Asia. Over 100 Mn tones of paper and board are consumed by North America, Asia (inct. Japan) accounts for 140 Mn tones and Europe`s share is around 102 Mn tones per annum. The robust growth in Asian economies resulted in large capacity additions in China and India. Additionally, the rising levels of literacy in the region and the sustained thrust on increasing the spread of education are expected to provide the background for sustained demand for paper in this geography. The following factors can be considered as generic demand drivers for paper, globally: * Wide scope of application; Paper is used for diverse purpose viz. writing, printing, decorating, tissues, etc. Additionally, it enjoys a wide consumer base i.e., across age groups and socio-economic strata. * Short lifecycle: The consumable nature of paper results in short lifespan of paper thereby generating immediate replacement demand. * Absence of substitute: Although polymeric and alternative replacements have been designed to substitute paper, the same are prohibitively expensive. Indian Paper Industry: The Indian Paper Industry has 642 mills with a rated capacity of 9Mn MTPA and operates with a capacity utilization factor (CUF) of 82%, The demand for Paper is expected to increase from 9Kg per capita to 14 Kg per capita by FY 14. The average size of Indian Paper Mills is 38,000 MTPA compared to Global average of 400,000 MTPA. The sector remains fragmented, with a significant amount of capacity concentrated amongst the smaller players with capacities of less than 7,500 MTPA. The domestic paper industry ranks 15th in terms of capacity globally at 9Mn MTPA, with estimated sales of INR 321bn. With regards to India, specific factors contributing to the increasing demand for paper are as follows:- * The ongoing phase of economic growth is a major factor boosting consumption of paper and paperboard. This is most evident from the growth of FMCG and printing sector which are the end users for this product. * Increase in government speeding’s on education and rising levels of literacy are contributing to the enhancement of consumption of paper in the form of increasing demand for textbooks, newspapers, magazines, etc. * The historically low levels of per capita consumption in the country coupled with the growth in population are also resulting in an upward trend in paper demand. UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND SIX MONTHS ENDED ON SEPTEMBER 31, 2012
(Rs. in millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
30.09.2012 (Unaudited) |
30.06.2012 (Unaudited) |
30.09.2012 (Unaudited) |
|
1. |
Net Sales/Income
from Operations |
7.206 |
7.178 |
14.384 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Purchase of Stock In Trade |
6.596 |
6.563 |
13.159 |
|
|
Employee Benefits Expenses |
0.404 |
0.376 |
0.779 |
|
|
Depreciation and Amortization Expenses |
0.021 |
0.021 |
0.042 |
|
|
Other Expenses |
0.515 |
0.563 |
1.079 |
|
|
f) Total |
7.536 |
7.523 |
15.059 |
|
|
|
|
|
|
|
3. |
Profit From Operations before Other Income, Interest and
Exceptional Items (1-2) |
(0.330) |
(0.345) |
(0.675) |
|
|
|
|
|
|
|
4. |
Other Income |
1.096 |
1.040 |
2.136 |
|
|
|
|
|
|
|
5. |
Profit Before Interest and Exceptional Items (3+4) |
0.766 |
0.695 |
1.461 |
|
|
|
|
|
|
|
6. |
Interest |
0.002 |
0.002 |
0.004 |
|
|
|
|
|
|
|
7. |
Profit After Interest but before Exceptional Items (5-6) |
0.764 |
0.693 |
1.457 |
|
|
|
|
|
|
|
8. |
Exceptional Items |
|
-- |
-- |
|
|
|
|
|
|
|
9. |
Profit from Ordinary Activities before Tax (7+8) |
0.764 |
0.693 |
1.457 |
|
|
|
|
|
|
|
10. |
Tax
Expense |
0.248 |
0.269 |
0.517 |
|
|
|
|
|
|
|
11. |
Net Profit from Ordinary Activities after Tax (9-10) |
0.516 |
0.424 |
0.940 |
|
|
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
-- |
-- |
-- |
|
|
|
|
|
|
|
13. |
Net Profit for the period (11-12) |
0.516 |
0.424 |
0.940 |
|
|
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
55.040 |
55.040 |
55.040 |
|
|
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
-- |
-- |
-- |
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
30.09.2012 (Unaudited) |
30.06.2012 (Unaudited) |
30.09.2012 (Unaudited) |
|
1. |
Net Sales/Income
from Operations |
7.206 |
7.178 |
14.384 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Purchase of Stock In Trade |
6.596 |
6.563 |
13.159 |
|
|
Employee Benefits Expenses |
0.404 |
0.376 |
0.779 |
|
|
Depreciation and Amortization Expenses |
0.021 |
0.021 |
0.042 |
|
|
Other Expenses |
0.515 |
0.563 |
1.079 |
|
|
f) Total |
7.536 |
7.523 |
15.059 |
|
|
|
|
|
|
|
3. |
Profit From Operations before Other Income, Interest and
Exceptional Items (1-2) |
(0.330) |
(0.345) |
(0.675) |
|
|
|
|
|
|
|
4. |
Other Income |
1.096 |
1.040 |
2.136 |
|
|
|
|
|
|
|
5. |
Profit Before Interest and Exceptional Items (3+4) |
0.766 |
0.695 |
1.461 |
|
|
|
|
|
|
|
6. |
Interest |
0.002 |
0.002 |
0.004 |
|
|
|
|
|
|
|
7. |
Profit After Interest but before Exceptional Items (5-6) |
0.764 |
0.693 |
1.457 |
|
|
|
|
|
|
|
8. |
Exceptional Items |
|
-- |
-- |
|
|
|
|
|
|
|
9. |
Profit from Ordinary Activities before Tax (7+8) |
0.764 |
0.693 |
1.457 |
|
|
|
|
|
|
|
10. |
Tax
Expense |
0.248 |
0.269 |
0.517 |
|
|
|
|
|
|
|
11. |
Net Profit from Ordinary Activities after Tax (9-10) |
0.516 |
0.424 |
0.940 |
|
|
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
-- |
-- |
-- |
|
|
|
|
|
|
|
13. |
Net Profit for the period (11-12) |
0.516 |
0.424 |
0.940 |
|
|
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
55.040 |
55.040 |
55.040 |
|
|
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
-- |
-- |
-- |
STATEMENT OF ASSETS AND LIABILITIES AS ON 30TH SEPTEMBER,
2012
|
PARTICULARS |
30.09.2012
AUDITED |
|
Equity and
liabilities |
|
|
Shareholders'
fund |
|
|
Share capital |
55.040 |
|
Reserve &
surplus |
15.970 |
|
Sub-total - Shareholders' funds |
71.037 |
|
Non - current
liabilities |
|
|
Long term
borrowings |
-- |
|
Deferred tax
liability (net) |
0.045 |
|
Long term
provisions |
0.046 |
|
Sub-total - Non-current liabilities |
0.091 |
|
Current
liabilities |
|
|
Short term
borrowings |
-- |
|
Trade payables |
9.780 |
|
Other current liabilities |
0.685 |
|
Short term
provisions |
0.479 |
|
Sub-total - Current liabilities |
10.944 |
|
Total - Equity & Liabilities |
82.072 |
|
|
|
|
Assets |
|
|
Non-current
assets |
|
|
Fixed assets |
0.288 |
|
Capital work in
progress |
-- |
|
Non-current investment |
-- |
|
Long term loans
& advances |
0.130 |
|
Other
non-current assets |
-- |
|
Sub-total - Non-current Assets |
0.418 |
|
Current assets |
|
|
Inventories |
-- |
|
Trade
receivables |
14.377 |
|
Cash & bank
balances |
0.667 |
|
Short term loans
& advances |
66.610 |
|
Other current
assets |
-- |
|
Sub-total - Current Assets |
81.654 |
|
Total – Assets |
82.072 |
NOTES :
1 The above unaudited financial statement was reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on November 2, 2012. The limited as required under clause 41 of Listing Agreements has been carried out by Statutory Auditors of the company.
2 The company is engaged in trading of paper products and does not operate in any reportable segment. Accordingly AS – 17 “Segmental reporting” is not applicable.
3 Figures for the previous period has been regrouped / reclassified wherever required.
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 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.55.09 |
|
|
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.