MIRA
INFORM REPORT
|
Report Date : |
20.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
INDO AMINES LIMITED |
|
|
|
|
Registered
Office : |
W-44, MIDC, Phase
II, Dombivli (East), District Thane-421203, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.12.1992 |
|
|
|
|
Com. Reg. No.: |
11-070022 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.132.834
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1992PLC070022 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI02235C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI1374A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of
Amines, Pharmaceuticals and Specialty Chemical. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
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|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are fair. Business is active. Payments are reported to
be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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.
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/ Corporate Office : |
W-44, MIDC, Phase
II, Dombivli (East), District Thane-421203, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Email: |
|
|
Website: |
|
|
|
|
|
Factory 1 : |
W-35,D-58,W162, W-37/38/39, Phase II, MIDC, Dombivli (East), District Thane 421 204, Maharashtra, India |
|
|
|
|
Factory 2 : |
Survey No. 1723,
Tundav, Taluka Savli, Baroda, Gujarat, India |
|
|
|
|
Factory 3 : |
W/265, W/266A, TTC
Indl Area Rabale MIDC, Navi Mumbai - 400701, Maharashtra, India |
|
|
|
|
Factory 4 : |
4 Plot No.2,
D-151,D- 152,D-70,J-5 Additional Industrial Area, Avadhan, MIDC, Dhule –
424006, Maharashtra, India |
DIRECTORS
As on: 05.09.2013
|
Name : |
Mr. Vijay Bhalchandra Palkar |
|
Designation : |
Managing Director |
|
Address : |
73, Ranade Road, Laxmi Terrace, Dadar, Mumbai-400028, Maharashtra,
India |
|
Date of Birth/Age : |
25.02.1953 |
|
Date of Appointment : |
09.02.1994 |
|
DIN No.: |
00136027 |
|
|
|
|
Name : |
Mr. Rahul Vijay Palkar |
|
Designation : |
Executive Director |
|
Address : |
73, Ranade Road, Laxmi Terrace, Dadar, Mumbai-400028, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1979 |
|
Date of Appointment : |
19.02.1994 |
|
DIN No.: |
00325590 |
|
|
|
|
Name : |
Mrs. Bharti Vijay Palkar |
|
Designation : |
Executive Director |
|
Address : |
73, Ranade Road, Laxmi Terrace, Dadar, Mumbai-400028, Maharashtra,
India |
|
Date of Birth/Age : |
30.04.1954 |
|
Date of Appointment : |
01.07.1997 |
|
DIN No.: |
00136185 |
|
|
|
|
Name : |
Mr. Vishwas Vasudev Mehendale |
|
Designation : |
Director |
|
Address : |
B-103, Makwana Building, 260, PM Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Date of Birth/Age : |
17.09.1957 |
|
Date of Appointment : |
09.02.2009 |
|
DIN No.: |
00094468 |
|
|
|
|
Name : |
Mr. Rajannan Raghavendra Ravi |
|
Designation : |
Director |
|
Address : |
Flat No. 11, Kumaran Apartments, 43, 3rd Main Road, Ghandi Nagar, Chennai-600020,
Tamilnadu, India |
|
Date of Birth/Age : |
02.05.1956 |
|
Date of Appointment : |
01.08.2004 |
|
DIN No.: |
00136289 |
|
|
|
|
Name : |
Mr. Changdeo Laxman Kadam |
|
Designation : |
Whole Time Director |
|
Address : |
H-22, Sector No. 4, Aeroli, Navi Mumbai-400708, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1969 |
|
Date of Appointment : |
29.12.2008 |
|
DIN No.: |
00807296 |
|
|
|
|
Name : |
Mr. Narayan Ganpat Mane |
|
Designation : |
Whole Time Director |
|
Address : |
C-103, Sai Shrishti, CHS, RX-01, Sudarshan Nagar, Dombivali (East),
Thane-421203, Maharashtra, India |
|
Date of Birth/Age : |
06.02.1967 |
|
Date of Appointment : |
24.12.2002 |
|
DIN No.: |
00325647 |
|
|
|
|
Name : |
Mr. Deepak Shankar Kanekar |
|
Designation : |
Director |
|
Address : |
B-203, Utpal Park, Off Sitladevi Temple Road, Mahim, Mumbai-400018,
Maharashtra, India |
|
Date of Birth/Age : |
26.06.1953 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02570268 |
|
|
|
|
Name : |
Mr. Kirit Harilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
45, Sarvoday Society, Nizampura, Baroda, Gujarat, India |
|
Date of Birth/Age : |
18.03.1948 |
|
Date of Appointment : |
19.02.1994 |
|
DIN No.: |
00175193 |
|
|
|
|
Name : |
Mr. Dhawal Jitendra Vora |
|
Designation : |
Director |
|
Address : |
2-11, Kawali Compound, Opposite Wrly Workshop, N.M. Joshi Marg, Lower
Parel, Mumbai-400013, Maharashtra, India |
|
Date of Birth/Age : |
06.04.1972 |
|
Date of Appointment : |
27.12.2005 |
|
DIN No.: |
00130115 |
|
|
|
|
Name : |
Mr. Nishikant Sunder Sule |
|
Designation : |
Director |
|
Address : |
104, shubh Devi CHS, Opposite Sarita Ice Factory, Shivaji Udyog Nagar,
Manpada Road, Dombivli (East), Thane-421201, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1946 |
|
Date of Appointment : |
12.02.2011 |
|
DIN No.: |
03480278 |
|
|
|
|
Name : |
Mr. Suresh Rajamani Iyer |
|
Designation : |
Director |
|
Address : |
2A, 504, Riviera CHS, Lokhandwala Complex, Akurli Road, Kandivali (East),
Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
05.07.1966 |
|
Date of Appointment : |
24.12.2002 |
|
DIN No.: |
00289319 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar Diwakar Parab |
|
Designation : |
Secretary |
|
Address : |
6, Rajaradhika Society, Kastur Park Road, Shimpoli, Borivali (West),
Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
15.11.1986 |
|
Date of Appointment : |
01.02.2013 |
|
PAN No.: |
ARGPP0509C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
5960364 |
22.44 |
|
|
11998628 |
45.16 |
|
|
17958992 |
67.60 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
17958992 |
67.60 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
281906 |
1.06 |
|
|
|
|
|
|
4523576 |
17.03 |
|
|
2964918 |
11.16 |
|
|
837388 |
3.15 |
|
|
52170 |
0.20 |
|
|
785218 |
2.96 |
|
|
8607788 |
32.40 |
|
Total Public shareholding (B) |
8607788 |
32.40 |
|
Total (A)+(B) |
26566780 |
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) |
26566780 |
0.00 |
Equity Share Break up (Percentage of Total Equity)
As on: 05.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
2.98 |
|
Bodies corporate |
46.48 |
|
Directors or relatives of Directors |
22.43 |
|
Other top fifty shareholders |
10.78 |
|
Others |
17.33 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Amines, Pharmaceuticals and Specialty Chemical. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
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|
||||||||||||||||||
|
Bankers : |
· Dombivili Nagari Sahakari Bank Limited, Madhukunj, Plot No P/52, M.I.D.C, Phase II, Kalyan Sheel Road, Sonarpada, Dombivili East, Dombivli - 421204, Maharashtra, India · IDBI Bank Limited, Corporate Banking Group, Mittal Court224a,A Wing, 2nd Floor, Nariman Point, Mumbai - 400021, Maharashtra, India · State Bank of India, Mumbai Branch, Mumbai - 400019, Maharashtra, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kulkarni and Khanolkar Chartered Accountants |
|
Address : |
Bell Building, Pm Road, Mumbai, Maharashtra, India |
|
PAN No.: |
AAAFK2921N |
|
|
|
|
Associate : |
· Universal Distributors Private Limited CIN No.: U51101MH2011PTC218323 · Pure Organics Industries |
|
|
|
|
Subsidiary : |
Indo Amines (Europe) Limited |
CAPITAL STRUCTURE
After 05.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33000000 |
Equity Shares |
Rs.10/- each |
Rs.330.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26566780 |
Equity Shares |
Rs.10/- each |
Rs.265.668
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33000000 |
Equity Shares |
Rs.10/- each |
Rs.330.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13283390 |
Equity Shares |
Rs.10/- each |
Rs.132.834
Millions |
|
|
|
|
|
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 |
132.834 |
121.584 |
88.119 |
|
(b) Reserves & Surplus |
201.771 |
146.537 |
105.594 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
13.494 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
348.099 |
268.121 |
193.713 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
92.444 |
80.669 |
116.423 |
|
(b) Deferred tax liabilities (Net) |
0.485 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
20.218 |
16.964 |
9.261 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
113.147 |
97.633 |
125.684 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
305.372 |
341.695 |
136.714 |
|
(b) Trade payables |
390.110 |
274.454 |
210.445 |
|
(c) Other current
liabilities |
55.031 |
83.769 |
69.115 |
|
(d) Short-term provisions |
119.746 |
87.396 |
48.908 |
|
Total Current Liabilities (4) |
870.259 |
787.314 |
465.182 |
|
|
|
|
|
|
TOTAL |
1331.505 |
1153.068 |
784.579 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
255.294 |
194.494 |
128.736 |
|
(ii) Intangible Assets |
1.523 |
1.863 |
2.205 |
|
(iii) Capital
work-in-progress |
66.594 |
30.410 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.419 |
0.394 |
0.229 |
|
(c) Deferred tax assets (net) |
0.000 |
3.083 |
3.999 |
|
(d) Long-term Loan and Advances |
251.429 |
175.927 |
105.366 |
|
(e) Other Non-current assets |
15.504 |
14.198 |
26.339 |
|
Total Non-Current Assets |
590.763 |
420.369 |
266.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
222.590 |
243.788 |
185.381 |
|
(c) Trade receivables |
468.340 |
447.315 |
308.086 |
|
(d) Cash and cash
equivalents |
39.958 |
35.488 |
19.153 |
|
(e) Short-term loans and
advances |
7.385 |
4.583 |
1.442 |
|
(f) Other current assets |
2.469 |
1.525 |
3.643 |
|
Total Current Assets |
740.742 |
732.699 |
517.705 |
|
|
|
|
|
|
TOTAL |
1331.505 |
1153.068 |
784.579 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1995.634 |
1854.796 |
1573.582 |
|
|
|
Other Income |
17.187 |
19.754 |
11.336 |
|
|
|
TOTAL (A) |
2012.821 |
1874.550 |
1584.918 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1441.567 |
1387.098 |
759.210 |
|
|
|
Purchases of stock-in-trade |
0.000 |
8.427 |
494.999 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(8.722) |
(21.053) |
(32.049) |
|
|
|
Employee benefit expense |
53.645 |
42.693 |
31.897 |
|
|
|
Other expenses |
362.487 |
309.272 |
241.684 |
|
|
|
TOTAL (B) |
1848.977 |
1726.437 |
1495.741 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
163.844 |
148.113 |
89.177 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.884 |
44.816 |
22.623 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
121.960 |
103.297 |
66.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.492 |
34.201 |
24.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
94.468 |
69.096 |
42.312 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.569 |
29.398 |
15.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
62.899 |
39.698 |
27.306 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1013.387 |
1006.632 |
554.642 |
|
|
TOTAL EARNINGS |
1013.387 |
1006.632 |
554.642 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
432.169 |
384.024 |
267.185 |
|
|
TOTAL IMPORTS |
432.169 |
384.024 |
267.185 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.74 |
3.27 |
0.31 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2013 |
30.09.2013 |
|
|
|
1st Quarter |
2nd Quarter |
|
Net Sales |
|
508.800 |
499.100 |
|
Total Expenditure |
|
469.200 |
464.800 |
|
PBIDT (Excl OI) |
|
39.700 |
34.400 |
|
Other Income |
|
0.000 |
0.000 |
|
Operating Profit |
|
39.700 |
34.400 |
|
Interest |
|
3.300 |
3.000 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
36.400 |
31.400 |
|
Depreciation |
|
13.800 |
11.200 |
|
Profit Before Tax |
|
22.600 |
20.200 |
|
Tax |
|
7.500 |
7.500 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
15.100 |
12.800 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
15.100 |
12.800 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.12
|
2.12 |
1.72 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.73
|
3.72 |
2.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.47
|
6.17 |
5.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.26 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.19
|
1.58 |
1.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85
|
0.93 |
1.11 |
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 |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
49.737 |
36.774 |
|
Total |
49.737 |
36.774 |
FINANCIAL OPERATIONS:
DIVIDEND:
The Directors are pleased to recommend a final Dividend of Rs. 1 per equity share of Rs. 10/- The dividend, if approved by the shareholders at the forthcoming Annual General Meeting would absorb Rs. 13.283 Millions out of the profits of the year. Dividend distribution tax payable by the company amounting to Rs. 2.258 Millions has been appropriated out of profits.
SCHEME OF ARRANGEMENT
AND AMALGAMATION:
The Company has obtained order from Hon’ble Bombay High Court vide order dt.2 nd November, 2012 towards approval of composite scheme of arrangement and amalgamation between Versatile Chemicals Ltd, Palkar Commercials Private Limited and the company. The company has allotted 23, 86,500 equity shares to the shareholders of Transferor Company dt. November 9, 2013 in pursuance of High Bombay High Court order & the said shares were listed on the Bombay Stock Exchange.
Also note that the Company has filed application for adjudication of stamp duty to General stamp office, Mumbai however the adjudicating order is not yet received as on date of this report.
FUTURE PLAN OF
ACTION.
Relevant R and D activity in the areas of business operations of the company will continue with a view to adapt products and process to improve performance and better meet the industries demand.
STATEMENT OF
STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2013.
(Rs.
In Millions)
|
SL. NO. |
PARTICULARS |
Quarter Ended |
Half Year Ended |
|
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
1 |
Net Sales/Income from Operations |
488.492 |
507.939 |
996.432 |
|
|
Other Operating Income |
10.647 |
0.887 |
11.534 |
|
|
Total Income from Operations |
499.139 |
508.826 |
1007.966 |
|
2 |
Expenses |
|
|
|
|
a |
Cost of material consumption, erection & engineering expense |
360.417 |
394.414 |
754.831 |
|
b |
Purchase of Stock in Trade |
0.000 |
0.000 |
0.000 |
|
c |
Changes in inventories of finished goods, work-in- progress and stock in trade |
6.230 |
(29.142) |
(22.912) |
|
d |
Employee benefits expense |
16.077 |
14.815 |
30.913 |
|
e |
Depreciation and amortisation expense |
11.189 |
13.826 |
25.014 |
|
f |
Other expenses |
77.584 |
77.300 |
154.884 |
|
|
Total Expenses |
471.498 |
471.233 |
903.847 |
|
3 |
Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) |
27.642 |
37.593 |
65.235 |
|
4 |
Other Income |
0.000 |
0.000 |
0.000 |
|
5 |
Profit from ordinary activities before finance costs and Exceptional Items (3 + 4) |
27.642 |
37.593 |
65.235 |
|
6 |
Finance costs |
7.441 |
15.012 |
22.453 |
|
7 |
Profit from ordinary activities after finance costs but before Exceptional Items (5 - 6) |
20.201 |
22.581 |
42.782 |
|
8 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
9 |
Profit from
ordinary activities before tax (7 + 8) |
20.201 |
22.581 |
42.782 |
|
10 |
Tax expense |
7.446 |
7.500 |
14946 |
|
11 |
Profit from ordinary activities after tax (9 - 10) |
12.755 |
15.081 |
27.836 |
|
12 |
Extraordinary Item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13 |
Net Profit for the
period (11 ± 12) |
12.755 |
15.081 |
27.836 |
|
14 |
Share of profit/ (loss) of associates |
0.000 |
0.000 |
0.000 |
|
15 |
Minority Interest |
0.000 |
0.000 |
0.000 |
|
16 |
Net Profit /(Loss) after taxes, minority interest and share of profit /(loss) of associates (13+14+15) |
12.755 |
15.081 |
27.836 |
|
17 |
Paid-up equity share capital (Face Value ? 2 per share) |
265.668 |
132.834 |
265.668 |
|
18 |
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
0.000 |
0.000 |
0.000 |
|
19 |
Earnings Per Share (before
extraordinary items) |
|
|
|
|
a |
Basic |
0.48 |
0.14 |
1.05 |
|
b |
Diluted |
0.39 |
0.92 |
0.85 |
|
20 |
Earnings Per Share
(after extraordinary items) |
|
|
|
|
a |
Basic |
0.48 |
1.14 |
1.05 |
|
b |
Diluted |
0.39 |
0.92 |
0.85 |
|
|
PART -II |
|
|
|
|
A |
Particulars of
Share holding |
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
- Number of shares |
8607788 |
4303894 |
8607788 |
|
|
- Percentage
of shareholding |
32.40 |
32.40 |
32.40 |
|
2 |
Promoters and
Promoter Group Shareholding |
|
|
|
|
a |
Pledged /
Encumbered |
Nil |
Nil |
Nil |
|
b |
Non - encumbered |
|
|
|
|
|
- Number of shares |
17958992 |
8979496 |
17958992 |
|
|
- Percentage of shares (as a % of the total shareholding of the Promoter and Promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
67.60 |
67.60 |
67.60 |
|
B |
Investor Complaints
(Nos) |
|
|
|
Pending at the beginning of the quarter |
0 |
|
|
Received during the quarter |
1 |
|
|
Disposed of during the quarter |
1 |
|
|
Remaining unresolved at the end of the quarter |
0 |
NOTES:
1. The above results have been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 31/10/2013.
2. The Assets and Liabilities Statement as on 30th September, 2013 has been reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 31st October, 2013.
3. The above results are subjected to Limited Review by the Statuory Auditor. A Limited Review is enclosed in this regard.
4. The company has 4 geographical segments and the results are presented accordingly with figures of previous year / period have been regrouped / rearranged whereever necessary to make them comparable.
5. Finance cost includes Rs 44.47 lacs towards mark to market on its receivable & payable denominated in foreign currency as at 30th Sep 2013
6. The figures of previous financial year / period have been regrouped / rearranged wherever necessary to make them comparable. Further Q2 results of sep ,2013 and Q4 results of March,2013 are not comparable, as the same do not reflect the effect of amalgamation.
7. The Consolidated Results includes the results of the 100% Subsidiary Company M/s Indo Amines(Malaysia) Sdn Bhd and Associate concern M/s Indo Amines(Europe) Limited.
8. Being the manufacture of products are seasonal in nature, Quarter on Quarter performance of the Individual segment is not comparable.
9. As reported earlier regarding Fire taken place at Dhule Plant on 27.07.2013 in which there was loss of property, the operations are yet to start . Reconstruction of fire affected unit is taking place.
10. Pursuant to the approval of the members at the 20th Annual General Meeting of the Company held on 5th September,2013 the Company has declared dividend @Re.1/- per share on the fully paid up equity shares of Rs.10/-each absorbing Rs.155.41/-lacs out of the profits of the year including divdend distribution tax of Rs.225.800/-Millions.
11. During the Quarter the Bonus Committee allotted Bonus shares on 18th September, 2013 after obtaining the shareholders approval in Annual General Meeting and In- Principal approval from The Bombay Stock Exchange Ltd dated 10 September, 2013. Further the said shares were listed vide Listing Approval dated 25th September,2013.
12. During the Quarter , the Company has received Listing Approval form The Bombay Stock Exchange Ltd dated August 12,2013 for 11,25,000 Equity Shares of Rs.10/-each bearing distinctive number 12158391 to 13283390 against conversion of warrants issued on preferential basis.
|
Particulars |
Rs In Millions |
|
Allotted |
|
|
opening Balance |
32.619 |
|
Amount Received |
6.638 |
|
Balance Utilized |
14.671 |
|
Total |
24.586 |
13. The Company has entered into agreement dated 6th October, 2013 to acquire 97.85% of equity shares of M/s. Key Organics Private Limited with the promoters of the said company.
STATEMENT OF ASSETS
AND LIABILITIES
(Rs.
In Millions)
|
Particulars |
As at 30.09.2013 |
|
|
|
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
265.668 |
|
(b) Reserves & Surplus |
82.230 |
|
|
|
|
(2) Share Application money pending allotment |
20.131 |
|
|
|
|
(3)
Non-Current Liabilities |
|
|
(a) long-term borrowings |
167.871 |
|
(b) Deferred tax liabilities (Net) |
1.431 |
|
(c) Other long term liabilities |
10.195 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
264.860 |
|
(b) Trade payables |
231.002 |
|
(c) Other current
liabilities |
124.439 |
|
(d) Short-term provisions |
101.785 |
|
|
|
|
TOTAL |
1269.713 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
307.039 |
|
(ii) Intangible Assets |
5.128 |
|
(iii) Capital
work-in-progress |
53.957 |
|
(b) Non-current Investments |
0.565 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
227.871 |
|
(e) Other Non-current assets |
0.000 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
247.373 |
|
(c) Trade receivables |
362.003 |
|
(d) Cash and cash
equivalents |
4.909 |
|
(e) Short-term loans and
advances |
7.007 |
|
(f) Other current assets |
9.762 |
|
|
|
|
TOTAL |
1269.713 |
UNAUDITED STANDALONE
SEGMENTAL INFORMATION FOR THE QUARTER ENDED ON 30TH SEPTEMBER, 2013
(Rs.
In Millions)
|
SL. NO. |
PARTICULARS |
Quarter Ended |
Half Year Ended |
|
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
1 |
Segment Revenue |
|
|
|
|
A |
DOMBIVLI |
230.908 |
250.789 |
481.696 |
|
B |
BARODA |
198.897 |
169.738 |
368.635 |
|
C |
RABALE |
30.667 |
100.713 |
131.380 |
|
D |
DHULE |
62.269 |
50.137 |
112.406 |
|
|
Total |
522.742 |
571.376 |
1094.117 |
|
Less: |
Inter segmental
revenue |
|
|
|
|
A |
DOMBIVLI |
18.424 |
54.459 |
72.883 |
|
B |
BARODA |
3.007 |
4.205 |
7.212 |
|
C |
RABALE |
0.601 |
1.952 |
2.553 |
|
D |
DHULE |
1.570 |
1.933 |
3.504 |
|
|
Total |
23.602 |
62.550 |
86.152 |
|
|
Sales / Income from
operations |
|
|
|
|
2 |
Segment Results
(Profit before Tax & Interest) |
|
|
|
|
A |
DOMBIVLI |
17.510 |
11.713 |
29.223 |
|
B |
BARODA |
11.591 |
5.335 |
16.926 |
|
C |
RABALE |
0.950 |
20.843 |
21.793 |
|
D |
DHULE |
(2.408) |
(0.298) |
(2.706) |
|
|
Total |
27.642 |
37.593 |
65.235 |
|
|
Less: Interest |
|
|
|
|
A |
DOMBIVLI |
4.928 |
6.544 |
11.472 |
|
B |
BARODA |
4.601 |
4.484 |
9.084 |
|
C |
RABALE |
(4.926) |
2.660 |
(2.266) |
|
D |
DHULE |
2.925 |
1.324 |
4.249 |
|
|
Total |
7.528 |
15.012 |
22.540 |
|
|
Total Profit before
Tax |
|
|
|
|
3 |
Capital Employed |
781.675 |
762.077 |
761.675 |
|
|
Total |
781.675 |
762.077 |
761.675 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10455200 |
25/09/2013 |
120,000,000.00 |
IDBI Bank Limited |
CORPORATE BANKING GROUP, MITTAL COURT224A, A WING, 2ND FLOOR,NARIMAN POINT, MUMBAI, Maharashtra - 400021, INDIA |
B87601613 |
|
2 |
10413633 |
25/10/2013 * |
82,450,000.00 |
DOMBIVILI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C,PHASE II, KALYAN SHEEL ROAD, SONARPADA, DOMBIVILI EAST, DOMBIVLI, Maharashtra - 421204, INDIA |
B89802631 |
|
3 |
10387185 |
25/10/2012 |
4,250,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYAN-SHIL ROAD, SONARPADA, DOMBIVLI (EAST), DOMBIVLI, Maharashtra - 421204, INDIA |
B62263611 |
|
4 |
10384602 |
04/10/2012 |
5,950,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO.P/52, M.I.D.C. PHASE II, KALYAN - SHIL ROAD, SONARPADA, DOMBIVLI EAST, DOMBIVLI, Maharashtra - 421204, INDIA |
B61427126 |
|
5 |
10347309 |
16/03/2012 |
9,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B36879211 |
|
6 |
10337142 |
05/01/2012 |
4,500,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B32689614 |
|
7 |
10323318 |
05/11/2011 |
4,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B27935972 |
|
8 |
10314867 |
11/10/2011 |
800,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B24187692 |
|
9 |
10268691 |
25/01/2011 |
2,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO. P/52, M.I.D.C. PHASE II, KALYAN - SHIL ROAD, SONARPADA, DOMBIVLI EAST, DOMBIVLI, Maharashtra - 421204, INDIA |
B06241624 |
|
10 |
10259156 |
18/11/2010 |
5,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B01087089 |
|
11 |
10259154 |
03/02/2011 * |
9,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B06241095 |
|
12 |
10259152 |
31/10/2010 |
4,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B01085869 |
|
13 |
10212255 |
31/03/2010 |
2,517,000.00 |
THE THANE JANATA SAHAKARI BANK LTD. |
TIRUPATI DARSHAN, FATEH ALI ROAD, BHANU NAGAR, OPPOSITE TO SARASWAT BANK, MUMBAI, Maharashtra - 421201, INDIA |
A83183426 |
|
14 |
10196656 |
22/05/2012 * |
98,200,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
B41425729 |
|
15 |
10188264 |
12/11/2009 |
4,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, KALYA |
A74354978 |
* Date of charge modification
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY.
FIXED ASSETS:
· Land and Sheds
· Factory Building
· Plant and Machinery
· Electrical Equipment
· Motor Vehicles
· Office Equipments
· Furniture and Fixtures
· Cylinder
· Computer
· Scooter
AS PER WEBSITE DETAILS:
PRESS RELEASES:
KEY ORGANICS BECOMES SUBSIDIARY OF INDO AMINES
Oct 08, 2013
Indo Amines Limited has informed BSE
that the Company has entered in to the agreement dated October 06, 2013 with
directors of M/s. Key Organics Private
Limited for acquisition of
shares, where in holding of Company in the said acquired company will be to the
extent of 97.85% and acquired Company shall treated as subsidiary of Indo
Amines Limited . Further M/s. Key Organics Private Limited is engaged in the
business of production of organic chemicals with 4500 metric tone p.a installed
production capacity.
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.62.38 |
|
|
1 |
Rs.102.15 |
|
Euro |
1 |
Rs.85.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.