MIRA
INFORM REPORT
|
Report Date : |
01.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHAGIRADHA CHEMICALS AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
8-2-269/S/3/A, Plot No.3, Sagar Society, Road No.2, Banjara Hills, Hyderabad-500
034, Andhra Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.07.1993 |
|
|
|
|
Com. Reg. No.: |
01-15963 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.50.783 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24219AP1993PLC015963 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDB00946B/HYDB01676D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACB9723G |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of high quality Basic Pesticides |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track. The operation
of the company was affected due to a fire accident that took place during
August 2011. It has incurred loss from its operations during 2012. However, trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some caution.
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
05.09.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
05.09.2012 |
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 : |
8-2-269/S/3/A, Plot No.3, Sagar Society, Road No.2, Banjara Hills,
Hyderabad-500 034, |
|
Tel. No.: |
91-40-23608083 |
|
Fax No.: |
91-40-23540444 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
|
|
Tel. No.: |
91-8592-231311/231409 |
|
Fax No.: |
91-8592-231412 |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. D. Ranga Raju |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. K. S. Raju |
|
Designation : |
Director |
|
Date of Birth/Age : |
29.06.1950 |
|
Qualification : |
B.E (Mechanical) |
|
Date of Appointment : |
29.07.2005 |
|
Other Directorship : |
1. Nagarjuna Fertilizers and Chemicals Limited 2. Kanumuru Education and Knowledge Limited 3. Nagarjuna Oil Corporation Limited 4. Siltex India Limited 5. Jaiprakash Engineering and Steel Company Limited 6. The Fertilizer Association of India 7. Nagarjuna Corporation Limited 8. Nagarjuna Agrichem Limited 9. Nagarjuna Oil refinery Limited |
|
|
|
|
Name : |
Mr. Sudhakar Kudva |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. Chandrasekhar |
|
Designation : |
Director |
|
Date of Birth/Age : |
19.12.1977 |
|
Qualification : |
B.Tech from Osmania university Masters Degree in Chemical
Engineering from the University of Illinois, Chicago |
|
Date of Appointment : |
27.07.2010 |
|
Other Directorship : |
1. Rite information services Private Limited 2. JC Biotech Private limited |
|
|
|
|
Name : |
Mr. D. Sadasivudu |
|
Designation : |
Executive Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2012
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1183499 |
23.42 |
|
|
1183499 |
23.42 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1183499 |
23.42 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
2438691 |
48.26 |
|
|
|
|
|
|
993247 |
19.65 |
|
|
344376 |
6.81 |
|
|
93887 |
1.86 |
|
|
93087 |
1.84 |
|
|
800 |
0.02 |
|
|
3870201 |
76.58 |
|
Total Public shareholding (B) |
3870201 |
76.58 |
|
Total (A)+(B) |
5053700 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
5053700 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of high quality Basic Pesticides |
||||||||||||||||||||
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|
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|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Chlorpyriphos |
|
|
|
|
- Technical |
MT |
2500 |
149.000 |
|
- Formulation |
kL |
500 |
10.000 |
|
Triclopyr |
|
|
|
|
- Technical |
MT |
200 |
159.750 |
|
- Formulation |
kL |
-- |
-- |
|
Imidacloprid |
|
|
|
|
- Technical |
MT |
100 |
-- |
|
- Formulation |
kL |
500 |
-- |
|
Fluroxypyr |
|
|
|
|
- Technical |
MT |
400 |
180.000 |
|
Clodinafop |
|
|
|
|
- Technical |
MT |
80 |
64.175 |
|
Cloquintocet Mexyl |
|
|
|
|
- Technical |
MT |
25 |
11.150 |
Note: Installed
capacity is certified by the management and not verified by the Auditors this
being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
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Bankers : |
· State Bank of India ·
AXIS Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Kankaria and
Uttam Singhi Chartered Accountantss |
|
Address : |
Hyderabad - 500082, Andhra Pradesh, India |
|
|
|
|
Cost Auditors : |
Sagar and Associates, Cost Accountants |
|
Address : |
Hyderabad - 500001, Andhra Pradesh, India |
|
|
|
|
Associates : |
Nagarjuna Agrichem Limited |
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 :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5102800 |
Equity shares |
Rs.10/- Each |
Rs.51.028
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5053700 |
Equity shares |
Rs.10/- Each |
Rs.50.537
millions |
|
|
Add : Share Forfeited |
|
Rs.0.245
Million |
|
|
Total |
|
Rs.50.782 Millions |
Details of Shares held by each Shareholder holding more than 5% shares
|
Class of Shares / Name of
Shareholders |
Number of Shares Held |
% of Holding In that class of Shares |
|
Equity shares with Voting rights |
|
|
|
Singavarapu Koteswara Rao |
684,100 |
13.54 |
|
Flax India Limited |
396,600 |
7.85 |
|
Siltex India Limited |
290,600 |
5.75 |
Details of Forfeited
Shares
|
Class of Shares |
Number of Shares Held |
Amount originally paid up |
|
Equity Shares with Voting Rights |
49,100 |
245,500 |
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 |
50.783 |
50.783 |
50.782 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
394.607 |
422.790 |
422.014 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
445.390 |
473.573 |
472.796 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
227.094 |
118.685 |
99.437 |
|
|
2] Unsecured Loans |
37.102 |
38.423 |
38.919 |
|
|
TOTAL BORROWING |
264.196 |
157.108 |
138.356 |
|
|
DEFERRED TAX LIABILITIES |
17.977 |
33.866 |
43.806 |
|
|
|
|
|
|
|
|
TOTAL |
727.563 |
664.547 |
654.960 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
310.042 |
332.662 |
356.986 |
|
|
Capital work-in-progress |
29.268 |
13.988 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
228.305
|
71.998 |
76.387
|
|
|
Sundry Debtors |
185.730
|
91.924 |
222.688
|
|
|
Cash & Bank Balances |
31.079
|
148.267 |
47.185
|
|
|
Other Current Assets |
0.677
|
0.348 |
0.319
|
|
|
Loans & Advances |
110.107
|
74.752 |
60.493
|
|
Total
Current Assets |
555.898
|
387.289 |
407.072 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
144.906
|
54.115 |
78.673
|
|
|
Other Current Liabilities |
6.757
|
2.505 |
0.000 |
|
|
Provisions |
15.982
|
12.772 |
30.425
|
|
Total
Current Liabilities |
167.645
|
69.392 |
109.098 |
|
|
Net Current Assets |
388.253
|
317.897 |
297.974
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
727.563 |
664.547 |
654.960 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
684.108 |
593.626 |
980.613 |
|
|
|
Other Income |
2.029 |
6.348 |
10.326 |
|
|
|
TOTAL (A) |
686.137 |
599.974 |
990.939 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Materials Consumed |
518.452 |
|
|
|
|
|
Changes in inventories of finished goods, Stock-in progress and Stock-in-Trade |
(65.539) |
(12.391) |
897.521 |
|
|
|
Employee benefits expense |
50.093 |
56.038 |
|
|
|
|
Other expenses |
179.673 |
119.665 |
|
|
|
|
Extraordinary Items |
(6.252) |
0.000 |
|
|
|
|
TOTAL (B) |
676.427 |
589.730 |
897.521 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.710 |
10.244 |
93.418 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.076 |
11.780 |
16.071 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(14.366) |
(1.536) |
77.347 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.705 |
25.562 |
34.590 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(44.071) |
(27.098) |
42.757 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(15.888) |
(27.873) |
9.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(28.183) |
0.775 |
33.170 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
342.515 |
341.740 |
308.570 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
314.332 |
342.515 |
341.740 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
443.831 |
358.048 |
737.372 |
|
|
TOTAL EARNINGS |
443.831 |
358.048 |
737.372 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
260.619 |
178.077 |
271.542 |
|
|
TOTAL IMPORTS |
260.619 |
178.077 |
271.542 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(5.58) |
0.15 |
6.56 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
|
|
30.06.2012 1st
Quarter |
|
Net Sales |
|
|
395.440 |
|
Total Expenditure |
|
|
374.570 |
|
PBIDT (Excl OI) |
|
|
20.870 |
|
Other Income |
|
|
4.340 |
|
Operating Profit |
|
|
25.210 |
|
Interest |
|
|
6.440 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
18.770 |
|
Depreciation |
|
|
7.580 |
|
Profit Before Tax |
|
|
11.190 |
|
Tax |
|
|
2.860 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
8.330 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
8.330 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(4.11)
|
0.13 |
3.35
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(6.44)
|
(4.56) |
4.36
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.09)
|
(3.76) |
5.60
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.10)
|
(0.06) |
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.97
|
0.48 |
0.52
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.32
|
5.58 |
3.73
|
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 |
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 |
OPERATIONS
The net revenue for the current year was Rs.686.137 Millions (Rs.599.974 Millions) which includes an export income of Rs.445.700 Millions (Rs.368.800 Millions). The Loss before tax was Rs.44.071 Millions (Rs.27.098 Millions) a significant decline while compared to the previous year. The production during the year was 1,268 MT (834 MT).
The operation of the company was affected due to a fire accident that took place on 10th of August 2011. The entire Block 3 of the factory was destroyed due to the fire accident. The company incurred loss of human resources (2 employees), materials and machinery. The company had to close down its operation in factory for 50 days.
Despite the adverse impact, the company took steps to maintain the production level. Rigorous steps are being taken to revive the Block 3 in factory.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS
The company manufactures technical grade agrochemical active constituents used as insecticides and weedicides.
China continues to dominate the international markets in supply of voluminous products being advantageously placed with the domestic availability of intermediates.
FINANCIAL PERFORMANCE
VIS-A-VIS OPERATIONAL PERFORMANCE
The loss in business due to shut down of operations for a period of 50 days on account of a fire accident has largely impacted the financial performance of the company in the second quarter. The company has put determined efforts to resurrect the performance in the last two quarters. The financial performance is expected to considerably improve in the current financial year with increase in business volume.
OUTLOOK
· The company has re-started production of Chlorpyriphos and is putting sustained efforts to regain its position in domestic and export market.
· The company after resurrection of Process Block-III would be re-starting the manufacture of products Clodinafop Propargyl and Cloquintocet Mexyl which have contributed to 30% of the sales in financial year 2010-11.
· The company proposes to add a new product “Azoxystrobin” to its product portfolio.
· The company has commissioned its formulation unit which is expected to contribute towards the revenue in the current year.
CONTINGENT LIABILITIES
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Estimated amount of Contracts remaining to be executed on Capital account and not provided for, net of advances |
3.697 |
11.470 |
|
Contingent Liabilities not provided for: |
|
|
|
Letters of Credit |
88.791 |
38.961 |
|
Bank Guarantees |
1.060 |
5.430 |
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER ENDED JUNE 30, 2012
Rs. In Millions
|
Sr. No. |
PARTICULARS |
QUARTER ENDED 30.06.2012 (Unaudited) |
|
|
1 |
a) Net Sales/Income
from Operations |
395.442 |
|
|
|
b) Other Operating Income |
-- |
|
|
|
Total Income from operations (net) |
395.442 |
|
|
2 |
Expenditure- |
|
|
|
|
a) Consumption of raw materials |
236.289 |
|
|
|
b) changes in inventories of finished goods, work in progress and stock in trade |
60.763 |
|
|
|
c) Employee benefits expense |
13.198 |
|
|
|
d) Depreciation and amortization expense |
7.580 |
|
|
|
e) Other Expenditure |
64.320 |
|
|
|
Total Expenses |
382.150 |
|
|
3 |
Profit from
operations before other income, interest and exceptional items (l-2) |
13.292 |
|
|
4 |
Other Income |
4.341 |
|
|
5 |
Profit before
interest and exceptional items (3+4) |
17.633 |
|
|
6 |
Finance Costs |
6.446 |
|
|
7 |
Profit after
interest but before exceptional items (5-6) |
11.187 |
|
|
8 |
Exceptional items |
- |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax (7+8) |
11.187 |
|
|
10 |
Tax expense |
|
|
|
|
a. Current Tax |
2.859 |
|
|
|
b. Deferred tax Total (a to b) |
2.859 |
|
|
11 |
Net Profit/(Loss)
from ordinary activities after tax (9-10) |
8.328 |
|
|
12 |
Extraordinary items (net of tax expense Rs) |
|
|
|
13 |
Net Profit/(Loss) for the period (11-12) |
8.328 |
|
|
14 |
Paid-up Equity Share Capital (Face value @ Rs.10/- per share) |
50.537 |
|
|
15 |
Reserves excluding Revaluation Reserves |
- |
|
|
16 |
Basic and Diluted EPS for the period in Rs, * Not annualized |
1.65 |
|
|
17 |
Public shareholding |
|
|
|
|
- Number of shares |
3870201 |
|
|
|
- Percentage of shareholding |
76.58% |
|
|
18 |
Promoters and
Promoter group Shareholding |
|
|
|
|
a) Pledged/Encumbered |
NIL |
|
|
|
- Number of shares |
NA |
|
|
|
- Percentage of shares (as a% to the total shareholding of promoter and promoter group) |
NA |
|
|
|
- Percentage of shares (as a % to the total share capital of the company) b) No n-encumbered |
NA |
|
|
|
- Number of shares |
1183499 |
|
|
|
- Percentage of shares (as a % to the total shareholding of promoter and promoter group) |
100% |
|
|
|
- Percentage of shares (as a % to the total share capital of the company) |
23.42% |
|
|
B. |
Investor Complaints |
Quarter ended 30.06.2012 |
|
|
|
Pending at the beginning for the quarter |
Nil |
|
|
|
Received during the quarter |
Nil |
|
|
|
Disposed of during the quarter |
Nil |
|
|
|
Remaining at the end of quarter |
Nil |
|
Note:
1. The company has received approvals to restart the production Block III of factory on 7lh August
2. The above results have been reviewed and recommended by the Audit Committee and approved by the Board of Directors in their meeting held on 8lb August 2012 and have been subjected to limited review by Statutory Auditors
3. Segmental Reporting; The company is primarily engaged in the business of manufacturing and selling Agro Chemicals and there are no separate reportable segment as per accounting standard (AS)17 " Segment Reporting in respect of the company.
4. The above financial results have been drawn in accordance with the Accounting policies consistently followed by the Company.
5. Status of investor complaints for the quarter ended June 30, 2012 - Opening-0, Received-2, Resolved-2, Pending - Nil.
6. Figures have been Reclassified/ re grouped/re arranged wherever considered necessary, as per the format revised by SEBI in conformity with the revised schedule VI to the .companies Act 1956
WEBSITE DETAILS:
PROFILE
Subject is a
professionally organized public limited company based at
The company's manufacturing unit is located near the eastern
coastal town of
The company enjoys the active participation and support of
highly experienced scientists and technocrats and vital linkage to scientific
community by its relationship with Indian Institute of Chemical Technology,
The company lays great emphasis in establishing vital relationships with the international business community and has achieved considerable success in this regard by exporting 70% of its produce during the last six years. It is honoured to have made significant exports to well known customers in Australia, South Africa, China, Germany, Singapore, Spain, U.K. Belgium, Greece, Italy, Malaysia, Taiwan, Indonesia, Peru, Brazil, etc.,
The company's research and Development team is constantly striving to establish a sound scientific base to meet the increasing demands on the quality of the products. The company has also generated authentic chemical and toxicological data for Chlorpyrifios Ethyl Technical, Chlorpyrifos Methyl Technical, Triclopyr Butoxy Ethyl Ester Technical, and formulations to facilitate registration of these products in the importing countries.
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.54.12 |
|
|
1 |
Rs.87.08 |
|
Euro |
1 |
Rs.70.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
|
34 |
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.