MIRA
INFORM REPORT
|
Report Date : |
18.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
R M MOHITE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
R.S. No.347, Ambapwadi Phata, N.H.4, Vadgaon, District – Kolhapur –
416112, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.10.1990 |
|
|
|
|
Com. Reg. No.: |
11-058774 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 200.997 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L40108MH1990PLC058774 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KLPR01239A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCR3410K |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufactures Ring-Spun Cotton Yarn and Knitted and Woven Fabrics. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track record. There appears dip in the profit of the company during 2013. Trade relations are fair. Business is active. Payment terms are 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 – 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: (Suspended) |
|
Date |
19.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: (Suspended) |
|
Date |
19.02.2013 |
Reason: The suspension of ratings is on account of
non-cooperation by the company.
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 : |
R.S. No.347, Ambapwadi Phata, N.H.4, Vadgaon, District – Kolhapur –
416112, Maharashtra, India |
|
Tel. No.: |
91-230-2471230 / 33 |
|
Fax No.: |
91-230-2471229 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Shivaji R. Mohite |
|
Designation : |
Chairman and Managing directors |
|
|
|
|
Name : |
Mrs. Monika S. Mohite |
|
Designation : |
Joint Managing directors |
|
|
|
|
Name : |
Mr. Abhay S. Bhide |
|
Designation : |
Executive Director and Chief Executive Officer |
|
|
|
|
Name : |
Mr. Neehal M.Pathan |
|
Designation : |
Non-executive Director |
|
|
|
|
Name : |
Mr. Sanjay D Patil |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Dhiraj S. Patil |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Ranjeet D. Patil |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Sangramsinh S. Nimbalkar |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Sachin G. Bidkar |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
13967241 |
69.49 |
|
|
13967241 |
69.49 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
13967241 |
69.49 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
4542009 |
22.60 |
|
|
|
|
|
|
621267 |
3.09 |
|
|
848335 |
4.22 |
|
|
120848 |
0.60 |
|
|
39 |
0.00 |
|
|
2250 |
0.01 |
|
|
118559 |
0.59 |
|
|
6132459 |
30.51 |
|
Total Public
shareholding (B) |
6132459 |
30.51 |
|
Total (A)+(B) |
20099700 |
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) |
20099700 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures Ring-Spun Cotton Yarn and Knitted and Woven Fabrics. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· Bank of Baroda, Shahupuri, Kolhapur, Maharashtra, India · IDBI Bank Limited, Nariman Point, Mumbai, Maharashtra, India · State Bank of India, Udyamnagar, Kolhapur, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
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|
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Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors
: |
|
|
Name : |
Moreshwar G. Deshpande Chartered Accountants |
|
Address : |
F-2, Mayureshwar Appartment, City Highschool Road, Sangli - 416 416, Maharashtra, India |
|
|
|
|
Internal Auditors: |
Kunte and Chaugule Chartered Accountant |
|
Address : |
Ayodhya Towers, 2 Floor, Station Road, Kolhapur - 416 001, Maharashtra, India |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26000000 |
Equity Shares |
Rs.10/- each |
Rs. 260.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20099700 |
Equity Shares |
Rs.10/- each |
Rs. 200.997
Millions |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at end of the reporting period
Equity Shares
|
Particulars |
As on 31.03.2013 |
|
|
At the beginning of the reporting period |
20099700 |
20099700 |
|
Movement during the reporting period |
-- |
-- |
|
|
20099700 |
20099700 |
Right of Equity
Shareholders
Company has only one class of equity share of par value Rs. 10 /-. Each holder of the equity shares is entitled to one vote per share. In the event of liquidation of the company the holder of equity share will be entitled to receive remaining assets of the company after distribution of the preferential payments. The distribution will be in proportion to the number of equity shares held by the shareholders.
Details of
Shareholders holding more than 5% shares in the Company
|
Particulars |
As on 31.03.2013 |
|
|
Shivaji Ramchandra Mohite |
20099700 |
20099700 |
|
Monika Shivaji Mohite |
|
|
|
Dilip Ramchandra Mohite |
-- |
-- |
|
|
20099700 |
20099700 |
During the previous
five years, the company has not issued bonus shares/ bought back shares /
issued shares for consideration other than cash.
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 |
200.997 |
200.997 |
200.997 |
|
(b) Reserves & Surplus |
465.513 |
425.593 |
384.625 |
|
(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) |
666.510 |
626.590 |
585.622 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
503.274 |
668.366 |
694.352 |
|
(b) Deferred tax liabilities (Net) |
57.617 |
61.583 |
64.894 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
560.891 |
729.949 |
759.246 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
400.512 |
418.605 |
386.965 |
|
(b)
Trade payables |
27.392 |
31.507 |
117.192 |
|
(c)
Other current liabilities |
92.322 |
129.257 |
0.000 |
|
(d) Short-term
provisions |
55.350 |
48.350 |
52.369 |
|
Total Current
Liabilities (4) |
575.576 |
627.719 |
556.526 |
|
|
|
|
|
|
TOTAL |
1802.977 |
1984.258 |
1901.394 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1035.951 |
1181.026 |
1256.548 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
58.262 |
55.842 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1.225 |
1.225 |
3.675 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.066 |
50.008 |
11.649 |
|
(e) Other
Non-current assets |
2.693 |
2.434 |
23.352 |
|
Total Non-Current
Assets |
1121.197 |
1290.535 |
1295.224 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
320.890 |
318.848 |
251.124 |
|
(c)
Trade receivables |
314.844 |
346.231 |
323.932 |
|
(d) Cash
and cash equivalents |
41.356 |
27.115 |
29.479 |
|
(e)
Short-term loans and advances |
4.690 |
1.529 |
1.635 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
681.780 |
693.723 |
606.170 |
|
|
|
|
|
|
TOTAL |
1802.977 |
1984.258 |
1901.394 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1392.396 |
855.771 |
1361.640 |
|
|
|
Other Income |
12.515 |
18.921 |
18.361 |
|
|
|
TOTAL (A) |
1404.911 |
874.692 |
1380.001 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
795.620 |
404.595 |
866.783 |
|
|
|
Manufacturing & Operating Cost |
256.337 |
161.549 |
203.045 |
|
|
|
Changes in Inventories of finished Goods, Work in progress and stock in trade |
10.068 |
(44.266) |
(28.201) |
|
|
|
Employee benefits expenses |
71.299 |
59.457 |
84.362 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
45.857 |
|
|
|
TOTAL (B) |
1133.324 |
581.335 |
1171.846 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
271.587 |
293.357 |
208.155 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
135.529 |
154.775 |
97.465 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
136.058 |
138.582 |
110.690 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
93.104 |
93.226 |
64.249 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
42.954 |
45.356 |
46.441 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.034 |
4.388 |
3.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.920 |
40.968 |
42.839 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
422.593 |
381.626 |
219.171 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
462.513 |
422.593 |
262.010 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
96.355 |
56.715 |
60.339 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
4.530 |
2.419 |
5.929 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.99 |
2.04 |
2.13 |
|
QUARTERLY / SUMMARISED
RESULTS
|
PARTICULARS |
30.09.2013 1st
Quarter |
30.06.2013 2nd
Quarter |
|
Audited / Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
587.800 |
460.000 |
|
Total Expenditure |
523.500 |
382.500 |
|
PBIDT (Excl OI) |
64.300 |
77.600 |
|
Other Income |
0.000 |
0.100 |
|
Operating Profit |
64.300 |
77.700 |
|
Interest |
24.700 |
25.500 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
39.600 |
52.200 |
|
Depreciation |
22.200 |
22.600 |
|
Profit Before Tax |
17.400 |
29.600 |
|
Tax |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
17.400 |
29.600 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
17.400 |
29.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.84 |
4.68 |
3.10 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.09 |
5.30 |
3.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.46 |
2.35 |
2.45 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.07 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.36 |
1.73 |
1.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.11 |
1.09 |
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 |
Yes |
|
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)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans from Directors |
179.488 |
174.361 |
|
|
|
|
|
Total |
179.488 |
174.361 |
MANAGEMENT DISCUSSION
AND ANALYSIS
The management of R M Mohite Industries Limited presents the analysis of business performance of the Company for the year 2012-2013 and its outlook for the future. This outlook is based on assessment of the current business environment. It may vary due to future economic and other developments, both in India and abroad.
INDUSTRY STRUCTURE
AND FUTURE OUTLOOK
2012-13 was a mirthful year for the Textile Sector, especially for Spinning segment. This is because of surged demand in the global market as well as local market. Also the price of yarn remained on higher side viz-a viz cotton price. If the same scenario continues in the year 2013-14, spinning industry can overcome all those hardships faced prior 2011-12 and grow significantly.
FINANCIAL ANALYSIS
AND REVIEW OF OPERATIONS
Production of their Company of 100% cotton yarn was 7126.36 MT during 2012-13 as against production of 3513.76 MT in 2011-12. Sale of yarn was Rs. 1222.407 Millions during 2012-13 as compared to sales of Rs. 603.881 Millions during 2011-12 and Sales of Cotton Waste was Rs. 8.448 Millions during 2012-13 as compared to sales of Rs. 8.060 Millions during 2011-12.
Job Work of 100 % cotton yarn was 37.45 MT during 2012-13 as against job work of 2881.85 MT in 2011-12. Job work charges was Rs. 0.878 Millions as compared to Job work charges Rs. 73.383 Millions in 2011-12.
Generation of Hydro Power 1,72,00,919 Kwh Units during 2012-13 as against generation of 2,24,41,914 Kwh Units in 2011-12. Intersegment sale of 1,72,00,919 Kwh Units during 2012- 13 as against 1,69,93,018 in 2011-12. Sale of Hydro Power Units Rs. NIL Millions during 2012-13 as compared to sales of Rs. 22.265 Millions during2011-12
Production of yarn during 2012-13 was increased by 102.81 % and Sales during 2012-13 were increased by 102.43 % as compared previous year.
The Direct Export and Merchant Export of yarn and fabric was Rs. 619.919 Millions during 2012-13 as compared to Rs. 123.137 Millions during 2011-12.
Contingent
Liabilities:
Contingent Liabilities not provided in respect of –
(Rs. In Millions)
|
Particulars |
As on 31.03.2013 |
|
Claims not acknowledged as debts in respect of matters in appeals |
35.989 |
|
Commitments |
|
|
Estimated amount of contracts remaining to be executed |
-- |
|
Other Commitments : |
|
|
Guarantee given by banks, counter guaranteed by the Company |
66.059 |
|
Other Significant Commitments |
-- |
UNAUDITED (LIMITED REVIEWED)
FINANCIAL RESULTS FOR THE QUARTER ENDED ON 30TH JUNE, 2013
(Rs. In Millions)
|
Particular |
Quarter Ended |
|
|
30.06.2013 |
|
Income from Operations |
|
|
Net Sales/Income from Operations (Net of excise duty) |
460.025 |
|
Other Operating Income |
-- |
|
Total Income from operations (net) |
460.025 |
|
|
|
|
Expenses |
|
|
(a) Cost of materials consumed |
330.074 |
|
(b) Purchases of stock-in-trade |
-- |
|
(c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(28.992) |
|
(d) Employee benefits expense |
20.732 |
|
(e) Depreciation and amortisation expense |
22.572 |
|
(f) Power
and Fuel |
39.783 |
|
(g) Other
expenses |
20.851 |
|
Total Expenses |
405.020 |
|
|
|
|
Profit (+)/Loss (-)
from operations before other income and finance costs (1-2) |
55.005 |
|
Other Income |
0.073 |
|
Profit (+)/Loss (-)
before finance costs (3+4) |
55.078 |
|
Finance costs |
25.490 |
|
Profit (+)/Loss (-)
before tax (5-6) |
29.588 |
|
Exceptional
items |
-- |
|
Profit / (Loss)
from ordinary activities after before tax (7-8) |
29.588 |
|
Tax expense (including deffered tax) |
-- |
|
Net Profit / (Loss)
from ordinary activities after tax (9-10) |
29.588 |
|
Extraordinary Items |
-- |
|
Net Profit / (Loss) |
29.588 |
|
Share of profit / (loss) of associates Minority interest |
|
|
Net Profit / (Loss) after taxes, minority interest and share of profit / (loss) of associates (13+14+15) |
29.588 |
|
Paid- up Equity Share Capital (Face value of the share – Rs. 2 per
share) |
200.997 |
|
Reserves excluding revaluation
reserves as per balance sheet of Previous Accounting Year |
-- |
|
Earnings per share |
|
|
Basic -Diluted *Not Annualised |
1.47 1.47 |
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
1. Public shareholding |
|
|
Number of
Shares |
6120311 |
|
Percentage
of Shareholding |
30.45% |
|
2. Promoters and promoter group
shareholding |
|
|
a) Pledged/Encumbered |
6000000 |
|
- Number of Shares |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group) |
42.92% |
|
- Percentage of Shares (as a % of the Total Share Capital of the Company) |
29.85% |
|
|
|
|
Non -
encumbered |
|
|
- Number of
Shares |
7979389 |
|
- Percentage
of Shares (as a % of
the total shareholding of promoter and
promoter group) |
57.08% |
|
-
Percentage of Shares (as a % of
the total share capital of the company) |
39.70% |
|
|
Particulars |
30.06.2013 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending at the beginning of the quarter |
0 |
|
|
Received during the quarter |
0 |
|
|
Disposed of during the quarter |
0 |
|
|
Remaining unresolved at the end of the quarter |
0 |
Segmentwise Revenue,
Results and Capital Employed
|
|
Particulars |
30.06.2013 |
|
|
Segment Revenue |
|
|
|
a) Textiles |
423.674 |
|
|
b) Hydro Power |
36.351 |
|
|
Total : |
460.025 |
|
|
Less : Inter segment revenue |
28.402 |
|
|
Net sales /income
from operations : |
431.623 |
|
|
Segment Results
- Profit/(Loss) before tax & interest from each segment |
|
|
|
a) Textiles |
31.466 |
|
|
b) Hydro Power |
23.612 |
|
|
Total: |
55.078 |
|
|
Less: |
|
|
|
ii) Other un-allocable expenditure net of un-allocable inc |
-- |
|
|
Profit Before
Tax : |
29.588 |
|
|
Capital Employed |
|
|
|
a) Textiles |
291.687 |
|
|
b) Hydro Power |
404.410 |
|
|
Total: |
696.097 |
Notes:
The above quarterly results were reviewed by the Audit Committee and taken on record by the
Board of Directors of the Company at their meeting held on 14th August, 2013
Provision for the tax will be considered by the Company at the end of the financial year.
The auditors of the Company have carried out the limited review of the above unaudited results
Complaints' status for the quarter: Opening - NIL, Received - NIL, Resolved - NIL, Pending - NIL.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10184826 |
09/10/2009 |
143,600,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A73045551 |
|
2 |
10137300 |
13/08/2009 * |
200,000,000.00 |
BANK OF BARODA |
SHAHUPURI BRANCH, SHAHUPURI, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
A70684808 |
|
3 |
10046395 |
02/05/2011 * |
225,000,000.00 |
BANK OF BARODA |
SHAHUPURI BRANCH, 1ST LANE, SHAHUPURI, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B14997381 |
|
4 |
10021728 |
08/08/2006 |
50,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A03283900 |
|
5 |
10013293 |
02/09/2006 * |
90,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, TARA CHAMBERS MUMBAI-PUNE ROAD, PUNE, MAHARASHTRA - 411003, INDIA |
A82321340 |
|
6 |
80016236 |
13/08/2009 * |
205,759,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A72377351 |
|
7 |
90093124 |
07/10/2009 * |
40,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A72885767 |
|
8 |
80051888 |
31/03/2008 * |
220,000,000.00 |
BANK OF BARODA |
SHAHUPURI BRANCH, 1ST LANE, SHAHUPURI, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
B33957812 |
* Date of charge modification
FIXED ASSETS
· Land and Buildings
· Plant and Machinery
· Office Equipment
· Furniture and Fixture
· Factory Building
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. 61.96 |
|
|
1 |
Rs. 101.14 |
|
Euro |
1 |
Rs. 85.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
|
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.