MIRA
INFORM REPORT
|
Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
861-862, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.02.1985 |
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Com. Reg. No.: |
55-020126 |
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CIN No.: [Company Identification
No.] |
L24219DL1985PLC020126 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELD00321G |
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PAN No.: [Permanent Account No.] |
AAACD0105G |
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Legal Form : |
It is a public limited liability company. The company’s shares are listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturer of Agro Chemicals and Seeds. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3884000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
861-862, |
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Tel. No.: |
91-11-30511500/83/67 |
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Fax No.: |
91-11-32907373 |
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E-Mail : |
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Website : |
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Factory 1 : |
Village Atta, |
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E-Mail : |
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Factory 2 : |
Daulatabad Road, Gurgaon – 122001, Haryana, India |
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Tel No.: |
91-124-2469138 / 139 140 |
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Fax No.: |
91-124-2469144 |
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E-Mail.: |
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Factory 3 : |
D/1/A-D/l/B, Ajanta Industrial Estate, Near Sarika Paints,
Viramgaon Road, at Vasna lyava, Sanand, Dist. Ahmedabad-382170 ( |
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Tel No.: |
91-02717- 284567/68 |
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Fax No.: |
91-02717-284567 |
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E-Mail: |
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Factory 4 : |
Plot No.l, IID Centre, SAICOP Industrial Estate, Battal Balian, Udhampur (J&K) |
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Tel No.: |
91-01992-250156/57 |
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Fax No.: |
91-01992-250156 |
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E-Mail.: |
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Sales Office / Godowns : |
Located At: ·
Ahmedabad ·
·
·
·
·
·
Hissar ·
·
·
Jaipur ·
·
Kichha ·
Kolkata ·
·
·
·
·
·
Pune ·
Rai ·
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·
Ravulapalem ·
·
Seiganganagar ·
Thrissur ·
Vijaywada |
DIRECTORS
AS ON 04.08.2010
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Name : |
Mr. R G Agarwal |
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Designation : |
Director |
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Name : |
Mr. M K Dhanuka |
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Designation : |
Director |
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Name : |
Mr. Arun Kumar Dhanuka |
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Designation : |
Director |
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Name : |
Mr. K B Kejariwal |
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Designation : |
Director |
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Name : |
Mr. Rahul Dhanuka |
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Designation : |
Director |
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Name : |
Mr. Priya Brat |
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Designation : |
Director |
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Name : |
Mr. Vinod Jain |
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Designation : |
Director |
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Name : |
Mr. Shrikrishna Khetan |
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Designation : |
Director |
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Name : |
Mr. I Narain |
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Designation : |
Director |
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Name : |
Mr. Subhash Lakhotia |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Mukesh Kumar |
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Designation : |
Company Secretary |
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Name : |
Mr. O Singh |
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Designation : |
President R and D |
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Name : |
Mr. V K Bansal |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. G D Gupta |
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Designation : |
Head – General Administration |
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Name : |
Mr. C M Gupta |
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Designation : |
Head – Procurement |
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Name : |
Mr. Mridual Dhanuka |
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Designation : |
Head – Production |
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Name : |
Mr. J K Agarwal |
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Designation : |
Vice President – Seeds |
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Name : |
Mr. Harsh Dhanuka |
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Designation : |
Senior Manager - Legal |
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Name : |
Mr. Rajesh Sahni |
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Designation : |
Senior General Manager – Legal |
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Name : |
Mr. Vijay Kumar |
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Designation : |
Senior General Manager – Production |
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Name : |
Mr. Y K Goel |
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Designation : |
Senior General Manger - Legal |
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Name : |
Mr. Kamal Kumar |
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Designation : |
Senior General Manager – Recruitment and Training |
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Name : |
Mr. A M Mathur |
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Designation : |
General Manager - Marketing |
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Name : |
Dr. P C Rai |
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Designation : |
General Manager – Marketing |
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Name : |
Mr. P K Mishra |
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Designation : |
General Manager – Business Development |
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Name : |
Mr. H M Raval |
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Designation : |
General Manager - Marketing |
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Name : |
Dr. Rajesh Mishra |
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Designation : |
General Manager – R and D Seed Division |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Category
of Shareholders |
No. of Shares |
Percentage |
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(A) Shareholding of Promoter and Promoter Group |
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Individuals/Hindu Undivided
Family |
9143750 |
18.28 |
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Bodies Corporate |
22137925 |
56.71 |
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(2)
Foreign |
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Total shareholding of Promoter
and Promoter Group (A) |
37509175 |
74.99 |
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(B) Public Shareholding |
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4125000 |
8.25 |
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4125000 |
8.25 |
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3679658 |
7.36 |
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3514037 |
7.03 |
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1059650 |
2.12 |
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131980 |
0.26 |
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Non Resident Indians |
131980 |
0.26 |
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|
8385325 |
16.76 |
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Total Public shareholding (B) |
12510325 |
25.01 |
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Total (A)+(B) |
50019500 |
100.00 |
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(C) Shares held by Custodians and against which
Depository Receipts have been issued |
-- |
-- |
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Total (A)+(B)+(C) |
50019500 |
100.00 |
%2018-Jan-2013_files/image002.gif){kind=small}
(1) Indian%2018-Jan-2013_files/image003.gif){kind=small}
Financial Institutional Investors%2018-Jan-2013_files/image004.gif){kind=small}
Individual shareholders holding nominal share
capital up to Rs.0.100 millionBUSINESS DETAILS
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Line of Business : |
Manufacturer of Agro Chemicals and Seeds. |
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Products : |
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PRODUCTION STATUS AS ON (31.03.2010)
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Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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Pesticide Formulations |
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Liquid |
K.L |
8675 |
8675 |
7018.79 |
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Powder, Dust and Granules |
M.T |
5675 |
5675 |
23694.96 |
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Seed Processed |
M.T. |
113040 |
113040 |
4688.18 |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
NOTE 1. Working Capital loans are secured by hypothecation of stocks of raw materials, goods in process, finished goods, stores, book debts and other movable assets on pari-passu basis and by joint and several guarantees of the directors of the company and also by way of first charges over immovable properties of the company; as collateral security
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dinesh Mehta and Company Chartered Accountant |
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Address : |
21, |
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Cost Auditors : |
S Chamber and Associates |
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Address : |
212, IInd Floor, Sarai Pipal Thala, |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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14000000 |
Equity Shares |
Rs. 10 each |
Rs.140.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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9178900 |
Equity Shares |
Rs. 10 each |
Rs.91.789
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
91.789 |
91.789 |
91.790 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
879.439 |
590.987 |
422.280 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
971.228 |
682.776 |
514.070 |
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LOAN FUNDS |
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1] Secured Loans |
269.049 |
247.989 |
319.490 |
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2] Unsecured Loans |
307.981 |
267.448 |
185.940 |
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TOTAL BORROWING |
577.030 |
515.437 |
505.430 |
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DEFERRED TAX LIABILITIES |
16.515 |
4.286 |
4.290 |
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TOTAL |
1564.773 |
1202.499 |
1023.790 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
382.283 |
243.880 |
228.500 |
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Capital work-in-progress |
4.086 |
5.651 |
6.800 |
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INVESTMENT |
0.104 |
0.004 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1113.029
|
936.017 |
697.010 |
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Sundry Debtors |
955.821
|
746.810 |
628.290 |
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Cash & Bank Balances |
20.327
|
33.771 |
41.140 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
483.998
|
413.771 |
292.750 |
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Total
Current Assets |
2573.175
|
2130.369 |
1659.190 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
498.378
|
457.505 |
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Other Current Liabilities |
489.899
|
378.477 |
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Provisions |
406.705
|
341.636 |
257.260 |
|
Total
Current Liabilities |
1394.982
|
1177.618 |
871.020 |
|
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Net Current Assets |
1178.193
|
952.751 |
788.170 |
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MISCELLANEOUS EXPENSES |
0.107 |
0.213 |
0.320 |
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TOTAL |
1564.773 |
1202.499 |
1023.790 |
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%2018-Jan-2013_files/image005.gif){kind=small}
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
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Income |
4455.491 |
3808.744 |
2486.000 |
|
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Other Income |
11.950 |
7.902 |
8.650 |
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TOTAL (A) |
4467.441 |
3816.646 |
2494.650 |
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Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase |
180.782 |
159.385 |
0.000 |
|
|
|
Raw Material Consumed |
2278.477 |
1872.845 |
1511.290 |
|
|
|
Manufacturing Expenses |
495.880 |
412.104 |
298.690 |
|
|
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Administrative Expenses |
357.153 |
324.364 |
109.090 |
|
|
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Marketing and Selling Expenses |
282.172 |
215.673 |
156.390 |
|
|
|
Excise Duty and Education Cess |
380.224 |
442.447 |
0.000 |
|
|
|
Deffered Revenue Expenses Written off |
0.107 |
0.107 |
9.080 |
|
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|
Increase/ (Decrease) in Stocks |
(96.164) |
(96.218) |
(99.070) |
|
|
|
Other Expenditure |
0.000 |
0.000 |
169.460 |
|
|
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TOTAL (B) |
3878.631 |
3330.707 |
2154.930 |
|
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|
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
588.810 |
485.939 |
339.720 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
67.761 |
102.791 |
54.260 |
|
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
521.049 |
383.148 |
285.460 |
|
|
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.077 |
27.087 |
21.420 |
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|
|
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PROFIT BEFORE
TAX (E-F) (G) |
489.972 |
356.061 |
264.040 |
|
|
|
|
|
|
|
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Less |
TAX (H) |
126.597 |
124.055 |
94.830 |
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
363.375 |
232.006 |
169.210 |
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
513.604 |
369.232 |
270.630 |
|
|
|
|
|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
36.338 |
23.201 |
439.850 |
|
|
|
Dividend |
64.252 |
55.073 |
|
|
|
|
Tax on Dividend |
10.672 |
9.360 |
|
|
|
BALANCE CARRIED
TO THE B/S |
765.717 |
513.604 |
-- |
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
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Export Earnings |
|
|
|
|
|
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Commission Earnings |
|
|
NA |
|
|
|
Other Earnings |
|
|
|
|
|
TOTAL EARNINGS |
1.213 |
4.596 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
771.507 |
716.047 |
NA |
|
|
TOTAL IMPORTS |
771.507 |
716.047 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
39.59 |
74.36 |
55.97 |
|
%2018-Jan-2013_files/image006.gif){kind=small}
%2018-Jan-2013_files/image007.gif){kind=small}
QUARTERLY RESULTS
|
Year |
|
|
30.06.2010 (1st
Quarter) |
30.09.2010 (2nd
Quarter) |
|
Net Sales |
|
|
799.940 |
1659.950 |
|
Total Expenditure |
|
|
672.750 |
1449.370 |
|
PBIDT (Excl OI) |
|
|
127.190 |
210.580 |
|
Other Income |
|
|
10.270 |
37.290 |
|
Operating Profit |
|
|
137.460 |
247.870 |
|
Interest |
|
|
17.420 |
14.060 |
|
Exceptional Items |
|
|
0.000 |
0.000 |
|
PBDT |
|
|
120.040 |
233.810 |
|
Depreciation |
|
|
8.910 |
9.210 |
|
Profit Before Tax |
|
|
111.130 |
224.600 |
|
Tax |
|
|
23.580 |
61.860 |
|
Provisions and contingencies |
|
|
0.000 |
0.000 |
|
Profit After Tax |
|
|
87.550 |
162.740 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
8.13
|
6.07 |
6.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.99
|
9.34 |
10.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.57
|
14.99 |
13.98 |
|
|
|