MIRA INFORM REPORT
|
Report Date : |
19.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PUDUMJEE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Thergaon, Chinchwad, Pune – 411033,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.12.1965 |
|
|
|
|
Com. Reg. No.: |
11-013394 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.
36.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999MH1999PLC013394 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15791G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0487B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture of Crepe Tissues for the hygiene industry and other specialty products like Packaging Tissues, Carbon Base paper etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a satisfactory track
record. Profit margin of the company appears to be low in 2013. However, overall
fundamental of the company appears to be above average. Rating also takes into consideration support of its associate company
Pudumjee Pulp and Paper Mills Limited. Trade relations are fair. Business is active. Payment terms are slow
but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the outbreak
of the global financial crisis, the world economy continues to remain fragile.
The Indian economy demonstrated remarkable resilience in the initial years of
the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood opportunities
for the millions living in poverty as also the large contingent of young people
joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A – (Long Term Rating) |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
25.06.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2+ (Short Term Rating) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
25.06.2013 |
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/ Factory : |
Thergaon, Chinchwad, Pune–411033,
Maharashtra, India |
|
Tel. No.: |
91-20-30613333/ 27275381 |
|
Fax No.: |
91-20-27273294/ 30613388 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
65 Acres |
|
Location : |
Owned |
|
|
|
|
Corporate/ Sales Office : |
Jatia Chambers, 60, Dr. V.B. Gandhi Marg, Fort, Mumbai –
400023, |
|
Tel. No.: |
91-22-22674485
/ 4529/ 30213333 |
|
Fax No.: |
91-22-22658316 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Shyam M. Jatia |
|
Designation : |
Chairman cum Managing Director |
|
|
|
|
Name : |
Mr. A. S. Dayal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R. C. Saraf |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. A. K. Somany |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. G. N. Jadodiya |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R.P Shroff |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Saath |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1748899 |
9.72 |
|
|
9780827 |
54.34 |
|
|
11529726 |
64.05 |
|
|
|
|
|
|
1478936 |
8.22 |
|
|
1478936 |
8.22 |
|
Total shareholding
of Promoter and Promoter Group (A) |
13008662 |
72.27 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
6000 |
0.03 |
|
|
500 |
0.00 |
|
|
150000 |
0.83 |
|
|
156500 |
0.87 |
|
|
|
|
|
|
1534517 |
8.53 |
|
|
|
|
|
|
2629422 |
14.61 |
|
|
405714 |
2.25 |
|
|
265185 |
1.47 |
|
|
27580 |
0.15 |
|
|
237605 |
1.32 |
|
|
4834838 |
26.86 |
|
Total Public
shareholding (B) |
4991338 |
27.73 |
|
Total (A)+(B) |
18000000 |
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) |
18000000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Crepe Tissues for the hygiene industry and
other specialty products like Packaging Tissues, Carbon Base paper etc. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Paper |
M. T. |
22500 |
18510 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Khare and Company Chartered
Accountants |
|
|
|
|
Solicitors : |
|
|
Name : |
Kanga and Company Chartered
Accountants |
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.2/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
Rs.2/- each |
Rs. 36.000
Millions |
|
|
|
|
|
NOTES
The reconciliation of the number of Equity shares outstanding
|
PARTICULARS |
AS AT 31.03.2013 |
|
No. of Shares |
|
|
Equity Shares at the beginning and end of the year |
18,000,000 |
The details of Shareholders holding more than 5% shares
|
PARTICULARS |
AS AT 31.03.2013 |
|
|
Name of the Shareholder |
No. of Shares |
% held |
|
Pudumjee Investment and Finance Company Limited |
3,945,790 |
21.92 |
|
Thacker and Company Limited |
2,509,837 |
13.94 |
|
Pragya Reality Developers Private Limited |
999,995 |
5.56 |
|
Mr. Shyam M Jatia |
972,187 |
5.40 |
|
Pudumjee Pulp and Paper Mills Limited |
956,725 |
5.32 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
36.000 |
36.000 |
36.000 |
|
(b) Reserves & Surplus |
372.390 |
365.382 |
366.804 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
408.390 |
401.382 |
402.804 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
507.583 |
413.753 |
360.029 |
|
(b) Deferred tax liabilities (Net) |
7.300 |
7.300 |
7.400 |
|
(c) Other long term
liabilities |
5.266 |
5.332 |
5.510 |
|
(d) long-term
provisions |
13.523 |
11.030 |
9.517 |
|
Total Non-current
Liabilities (3) |
533.672 |
437.415 |
382.456 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
22.200 |
124.987 |
36.334 |
|
(b) Trade
payables |
184.465 |
153.385 |
121.386 |
|
(c) Other
current liabilities |
22.169 |
20.209 |
13.582 |
|
(d) Short-term
provisions |
2.106 |
1.638 |
1.516 |
|
Total Current
Liabilities (4) |
230.940 |
300.219 |
172.818 |
|
|
|
|
|
|
TOTAL |
1173.002 |
1139.016 |
958.078 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
227.356 |
223.009 |
236.330 |
|
(ii)
Intangible Assets |
1.394 |
1.848 |
0.000 |
|
(iii)
Capital work-in-progress |
0.538 |
0.371 |
1.628 |
|
(b) Non-current Investments |
177.316 |
177.316 |
176.816 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
271.344 |
226.122 |
77.450 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
677.948 |
628.666 |
492.224 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
206.586 |
255.795 |
211.855 |
|
(c) Trade
receivables |
234.581 |
205.038 |
160.336 |
|
(d) Cash
and cash equivalents |
8.684 |
6.419 |
3.233 |
|
(e)
Short-term loans and advances |
45.203 |
43.098 |
90.430 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
495.054 |
510.350 |
465.854 |
|
|
|
|
|
|
TOTAL |
1173.002 |
1139.016 |
958.078 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1335.834 |
1256.375 |
994.264 |
|
|
|
Other Income |
22.935 |
19.616 |
44.927 |
|
|
|
TOTAL (A) |
1358.769 |
1275.991 |
1039.191 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
778.255 |
790.909 |
641.924 |
|
|
|
Trade Purchases |
6.206 |
44.384 |
83.236 |
|
|
|
Employees' Cost |
53.846 |
55.091 |
44.648 |
|
|
|
Other Expenses |
352.437 |
355.000 |
273.600 |
|
|
|
Foreign Exchange Loss/(Gain) |
7.185 |
16.326 |
(1.893) |
|
|
|
Changes in Inventories of Finished Goods, Work-in-Process and Stock in Trade |
79.500 |
(37.867) |
(32.161) |
|
|
|
TOTAL (B) |
1277.429 |
1223.843 |
1009.354 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
81.340 |
52.148 |
29.837 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.047 |
37.779 |
39.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
25.293 |
14.369 |
(9.550) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.672 |
16.657 |
16.631 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
8.621 |
(2.288) |
(26.181) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.600 |
(0.050) |
(10.550) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
7.021 |
(2.238) |
(15.631) |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
INCOME |
0.058 |
0.755 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
7.079 |
(1.483) |
(15.631) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
106.505 |
98.871 |
71.338 |
|
|
|
Deemed Exports |
0.000 |
0.218 |
0.000 |
|
|
TOTAL EARNINGS |
106.505 |
99.089 |
71.338 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
465.635 |
459.126 |
286.711 |
|
|
|
Components & Spares Parts |
13.393 |
16.301 |
21.781 |
|
|
|
Capital Goods |
1.449 |
0.884 |
0.225 |
|
|
|
Goods for resale |
0.000 |
34.015 |
59.962 |
|
|
TOTAL IMPORTS |
480.477 |
510.326 |
368.679 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.39 |
(0.12) |
(0.87) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.52
|
(0.18) |
(1.50) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.65
|
(0.18) |
(2.63)
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.87
|
(0.24) |
(3.36)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
(0.01) |
(0.06)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.30
|
1.34 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.14
|
1.70 |
2.70 |
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 |
No |
|
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) |
Yes |
|
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 |
No |
|
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 |
|
Unsecured Loan |
Rs.
In Millions 31.03.2013 |
Rs.
In Millions 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from Associates |
493.296 |
382.714 |
|
SHORT TERM
BORROWINGS |
|
|
|
Other Deposits |
5.993 |
6.465 |
|
|
|
|
|
TOTAL |
499.289 |
389.179 |
OPERATIONS
The Company was
able to achieve better margins on its products during the year despite the
ongoing slow down and recessionary conditions in the Country. The Management
continues to concentrate its efforts to improve these margins further by higher
capacity utilization and cost reduction wherever possible.
With regard to
Company's Real Estate business in Partnership, the inventory is expected to be
liquidated in normal course.
Pudumjee Hygiene Products
Limited, the Company's wholly-owned subsidiary has been reducing its exposure
to retail market segment and instead is concentrating on institutional business
to improve the margins which are currently under pressure. It is also
attempting to indigenize certain products by having them locally manufactured,
to improve the margins further.
Pudumjee Holdings
Limited, the Company's wholly owned subsidiary incorporated last year would be
engaged in the activities relating to investment and finance, in due course.
The labour relations in the Company continue to remain cordial.
MANAGEMENT DISCUSSION AND ANALYSIS
The Company
carries on the business of manufacture of Crepe Tissue for hygiene industry and
certain specialty products like packaging tissue, carbon base paper etc. The
products of the Company are well received in domestic and international markets
though there is increasing competition from other manufacturers, limiting the
margins. Efforts on cost reduction are being intensified.
The existing
internal controls of the Company are periodically reviewed by the Audit
Committee and are considered to be adequate.
The Company employs about 150 employees and its relations with the
labour have been cordial.
Pudumjee Hygiene
Products Limited, the wholly-owned subsidiary of the Company, successfully
sells its products under the "Greenlime" brand in the premium segment
of hygiene products which are well received. The Company's endeavours are to
generate higher volume of business through improving productivity of
distribution and marketing arrangement by appropriately incentivizing the
efforts and thus contain the losses.
FIXED ASSETS
- Land – Freehold
- Building
- Machinery
- Furniture and Fixtures
- Vehicles
STATEMENT OF
STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2013
(Rs. in millions)
|
Sr. No. |
Particular |
Quarter Ended |
|
|
|
30.06.2013 (Unaudited) |
|
1. |
Income from
Operations |
|
|
|
Net Sales |
296.400 |
|
|
Other Operating Income |
1.300 |
|
|
Net Sales/Income
from Operations |
297.700 |
|
|
|
|
|
2. |
Expenditure |
|
|
|
Cost of Material Consumed |
201.100 |
|
|
Purchase of Stock In Trade |
24.700 |
|
|
Change in Inventories of Finished Goods, Work-In-Progress
and Stock In Trade |
(55.800) |
|
|
Employee Benefits Expenses |
14.200 |
|
|
Depreciation and Amortization Expenses |
4.400 |
|
|
Net Foreign Exchange Loss / (Gain) |
7.400 |
|
|
Consumption of Fuel, Power and Water |
58.300 |
|
|
Share of Loss in a Partnership Firm |
11.100 |
|
|
Other Expenses |
30.200 |
|
|
f) Total |
295.600 |
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
2.100 |
|
|
|
|
|
4. |
Other Income |
5.700 |
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
7.800 |
|
|
|
|
|
6. |
Interest |
16.600 |
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
(8.800) |
|
|
|
|
|
8. |
Exceptional Items |
-- |
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
(8.800) |
|
|
|
|
|
10. |
Tax Expense |
0.700 |
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (9-10) |
(9.500) |
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
-- |
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
(9.500) |
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
36.000 |
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
-- |
|
|
|
|
|
16. |
Basic and diluted EPS before extraordinary items |
(0.53) |
|
|
|
|
|
17. |
Public
Shareholding |
|
|
|
-Number of Shares |
4991338 |
|
|
- Percentage of Shareholding |
27.73% |
|
|
|
|
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of Shares |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
Nil |
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
- Number of Shares |
13008662 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
100.00% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
72.27% |
|
Particulars
|
3
Months ended on 30th June, 2013 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed of during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
NOTES
- The company
by itself operates only in one reportable segment namely paper
- The figures
for the previous periods have been recast and regrouped wherever necessary
to confirm to current period’s presentation.
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. 61.82 |
|
|
1 |
Rs. 96.57 |
|
Euro |
1 |
Rs. 82.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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 |
|
- |
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.