MIRA
INFORM REPORT
|
Report Date : |
31.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
UNIVERSAL STARCH CHEM ALLIED LIMITED |
|
|
|
|
Registered
Office : |
Mhatre Pen Building, “B” Wing, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai -
400028, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
17.01.1973 |
|
|
|
|
Com. Reg. No.: |
11-016247 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.42.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110MH1973PLC016247 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU03499G MUMU03704B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU0639C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of Maize Products and Producing Starch and Liquid Glucose
|
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
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 some loss during the current year recorded by the company. However, performance capacity seems to be good. Trade relations are
reported to be fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
Mhatre Pen Building, “B” Wing, 2nd Floor, Senapati Bapat Marg, Dadar (West), Mumbai -
400028, Maharashtra, India |
|
Tel. No.: |
91-22-24362210/ 24363418 |
|
Fax No.: |
91-22-24305969 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
Dadasaheb Rawal Group of Industries Rawal Industrial Estate, Dada Nagar, Dondaicha, District: Dhule – 425408,
Maharashtra, India |
|
Tel. No.: |
91-2566-244151/ 244152/ 244153 |
|
Fax No.: |
91-2566-244225 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at: ·
·
|
DIRECTORS
(AS ON 31.03.2012)
|
Name : |
Mr. Jitendrasinh J. Rawal |
|
Designation : |
Chairman cum Managing Director |
|
|
|
|
Name : |
Mr. Jaydeosinh J Rawal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jaykumar J Rawal |
|
Designation : |
Director - Business Development |
|
|
|
|
Name : |
Mr. Jadish Varshneya (up to 19.11.2011) |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Kothary |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Devprakash Yadava |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R. T. Bandodkar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Bindu Madhavan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. G. K. Vishwanath |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vikrant J Rawal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sarvadamansingh R. Vaghela |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Gulabsingh P. Chaudhary |
|
Designation : |
Additional Director |
KEY EXECUTIVES
|
Name : |
Mr. Yogendra L. Sindhwad |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.12.2012)
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2248800 |
53.54 |
|
|
41100 |
0.98 |
|
|
2289900 |
54.52 |
|
|
|
|
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2289900 |
54.52 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
-- |
-- |
|
|
|
|
|
|
|
|
|
|
125534 |
2.99 |
|
|
|
|
|
|
|
|
|
|
831010 |
19.79 |
|
|
938828 |
22.35 |
|
|
14728 |
0.35 |
|
|
14728 |
0.35 |
|
|
1910100 |
45.48 |
|
|
|
|
|
Total Public
shareholding (B) |
1910100 |
45.48 |
|
|
|
|
|
Total (A)+(B) |
4200000 |
100.00 |
|
|
|
|
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
-- |
-- |
|
|
-- |
-- |
|
|
-- |
-- |
|
|
|
|
|
Total
(A)+(B)+(C) |
4200000 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs.0.100 Million BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Maize Products and Producing Starch and Liquid Glucose |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
The Shamrao VIthal Cooperative Bank Limited,
Mumbai, Maharashtra, India ·
HDFC Bank Limited ·
The Jalna People Cooperative Bank, Jalna ·
Union Bank of |
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Facilities : |
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|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M. B. Agarwal and Company Chartered Accountant |
|
Address : |
Mumbai, |
|
|
|
|
Associates/Subsidiaries : |
·
Unique Sugars Limited ·
Jaychandra Agro Industries Private Limited ·
Rawal Agro Chem Industries Private Limited ·
Kreative (Export and Import) Private Limited ·
Toranmal HiII Resorts Private Limited ·
Rawal Trading Enterprises Private Limited ·
Jaysinha Financing Private Limited ·
J.J. Agro Farms and Foods and J.J.Agro Farms and
Aquaculture |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4200000 |
Equity Shares |
Rs.10/- each |
Rs.42.000
Millions |
|
|
|
|
|
|
Particulars |
31.03.2012 (Equity Shares) |
|
|
|
Number |
Rs. In Millions |
|
|
|
|
|
Shares outstanding
at the beginning of the year |
4,200,000 |
42.000 |
|
Shares Issued during the year |
-- |
-- |
|
Shares
bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the |
4,200,000 |
42.000 |
|
Particulars |
31.03.2012 |
|
|
|
No of Shares |
% of Holding |
|
Jitendrasinh J.Rawal |
595667 |
14.18 |
|
Jaydeosinh
J.Rawal |
388567 |
9.25 |
|
Nayankuwar
J.Rawal |
323300 |
7.70 |
|
Pancharatna
J.Rawal |
238700 |
5.68 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
42.000 |
42.000 |
42.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
68.032 |
96.239 |
81.068 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
110.032 |
138.239 |
123.068 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
272.503 |
253.935 |
231.041 |
|
|
2] Unsecured Loans |
129.332 |
120.747 |
132.283 |
|
|
TOTAL BORROWING |
401.835 |
374.682 |
363.324 |
|
|
DEFERRED TAX LIABILITIES |
65.429 |
69.673 |
57.056 |
|
|
|
|
|
|
|
|
TOTAL |
577.296 |
582.594 |
543.448 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
481.297 |
434.676 |
317.230 |
|
|
Capital work-in-progress |
48.650 |
7.065 |
110.815 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.314 |
1.314 |
1.314 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
155.023
|
126.231 |
95.347
|
|
|
Sundry Debtors |
140.730
|
123.954 |
106.529
|
|
|
Cash & Bank Balances |
24.674
|
21.416 |
28.789
|
|
|
Other Current Assets |
0.432
|
0.753 |
0.000
|
|
|
Loans & Advances |
92.902
|
96.265 |
71.299
|
|
Total
Current Assets |
413.761
|
368.619 |
301.964 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
294.265
|
157.160 |
140.838 |
|
|
Other Current Liabilities |
46.389
|
42.441 |
29.961
|
|
|
Provisions |
27.072
|
29.479 |
17.076
|
|
Total
Current Liabilities |
367.726
|
229.080 |
187.875
|
|
|
Net Current Assets |
46.035
|
139.539 |
114.089
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
577.296 |
582.594 |
543.448 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1633.196 |
1226.201 |
844.485 |
|
|
|
Processing charges |
0.000 |
0.000 |
46.444 |
|
|
|
Other Income |
13.816 |
8.091 |
17.099 |
|
|
|
TOTAL (A) |
1647.012 |
1234.292 |
908.028 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1370.791 |
964.677 |
|
|
|
|
Changes in Inventories of finished Goods |
(41.870) |
(33.363) |
|
|
|
|
Employee benefit Expenses |
65.676 |
54.851 |
847.217 |
|
|
|
|
0.000 |
0.708 |
|
|
|
|
Other Expenses |
202.463 |
152.967 |
|
|
|
|
TOTAL (B) |
1597.060 |
1139.840 |
847.217 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
49.952 |
94.452 |
60.811 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
41.174 |
20.390 |
8.870 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.778 |
74.062 |
51.941 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.224 |
32.942 |
31.395 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(32.446) |
41.120 |
20.546 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(4.239) |
21.003 |
18.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(28.207) |
20.117 |
2.512 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
53.758 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
NA |
NA |
0.000 |
|
|
|
Proposed Dividend |
NA |
NA |
2.100 |
|
|
|
Corporate Tax on Dividend |
NA |
NA |
0.357 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
53.813 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.635 |
0.071 |
0.833 |
|
|
TOTAL EARNINGS |
3.635 |
0.071 |
0.833 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
39.594 |
0.690 |
17.830 |
|
|
TOTAL IMPORTS |
39.594 |
0.690 |
17.830 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(6.72) |
4.79 |
4.89 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2012 |
30.09.2012 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
453.000 |
339.800 |
|
Total Expenditure |
|
459.000 |
350.500 |
|
PBIDT (Excl OI) |
|
(6.000) |
(10.700) |
|
Other Income |
|
18.000 |
16.100 |
|
Operating Profit |
|
12.000 |
5.400 |
|
Interest |
|
11.600 |
13.900 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
0.400 |
(8.500) |
|
Depreciation |
|
12.200 |
10.300 |
|
Profit Before Tax |
|
(11.800) |
(18.800) |
|
Tax |
|
(2.700) |
(5.300) |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
(9.100) |
(13.500) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
(9.100) |
(13.500) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(1.71)
|
1.63 |
0.28
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.99)
|
3.35 |
2.43
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.63)
|
5.12 |
3.32
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.30 |
0.17
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.65
|
2.71 |
2.95
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.61 |
1.61
|
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) |
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 |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Fixed Deposits |
|
|
|
From Directors |
2.690 |
0.969 |
|
From Others |
6.629 |
1.247 |
|
Interests Accrued and due |
0.078 |
0.010 |
|
Deferred Payment Liabilities – Sales Tax |
93.224 |
102.484 |
|
Advances / Deposit from Agents |
7.293 |
6.321 |
|
Loans and
Advance from Related Parties |
|
|
|
Loan from Director |
9.553 |
0.000 |
|
Loans Repayable
on Demand |
|
|
|
Deferred Payment Liabilities – Sales Tax |
9.260 |
9.428 |
|
Temporary Book Over Draft |
0.605 |
0.288 |
|
|
|
|
|
Total |
129.332 |
120.747 |
OPERATIONAL
RESULTS:
The Company’s Net Sales for the year amounted to Rs.1572.800 Millions as
compared to Rs.1180.800 Millions of last year. The result for the year shows
net Loss after tax of Rs.(28.200) Millions as compared to profit of Rs.20.100
Millions in the Previous Year. The operational Loss was due to increase in cost
of raw materials plus other cost increase as compared to last year.
WIND MILL
The Company has commissioned a Wind Power Project with effect from 30th
March 2002, with an annual power generation capacity of around 14 Lacs units.
In line with the Government notification, the Company is maintaining cost of
generation of electricity through this project.
MANAGEMENT
DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENT
The company has
entered 39th year of operation and is a Producer of Starch based Products in India
and having a plant at Rawal Industrial Estate, Dada Nagar, Dondaicha, Dist.
Dhule. Our Products find application in various industry segments like Food,
Paper, Textiles, Pharmaceuticals and confectionary. The day to day management
of the Company is looked after by Executive Chairman and Managing Director
along with other whole Time Executive Directors assisted by team of competent,
Technical and Commercial Professionals.
FINANCIAL
PERFORMANCE
The Gross sales for
the year i.e. 2011 – 2012 stood at Rs.1652.600 Millions as compared to
Rs.1235.400 Millions in 2010-2011. The Profit/(loss) before tax for the year
stood at Rs.(32.400) Millions as compared to Rs.41.100 Millions in 2010– 2011.
BUSINESS OUTLOOK:
The year 2012–2013
offers reasonably improved picture in terms of the growth in starch industry in
comparison with previous years. The company has already identified some export
market which will increase the turnover.
CONTINGENT LIABILITIES NOT PROVIDED FOR ILL RESPECT
OF: (AS ON 31.03.2012)
i) Estimated amount of contracts remaining to be
executed on Capital Account and not provided for Rs.3.446 Millions (Previous
year Rs.16.904 Millions).
ii) Bills Discounted with Bankers are Rs.0.208
Millions (Previous year Rs.0.524 Millions). Since realised Rs.0.208 Millions.
iii) Company has
given guarantee to H.D.F.C. Limited for Rs.5.000 Millions (Previous year
Rs.5.000 Millions) on behalf of employees of the Company, for Construction of
their residential flats.
UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER ENDED 30.09.2012
(RS. IN MILLIONS)
|
Sr No. |
Particulars |
Quarter Ended |
Half Year Ended |
|
|
|
|
30.09.12 Unaudited |
30.06.12 Unaudited |
30.09.12 Unaudited |
|
|
|
|
|
|
|
1) |
Net Sales |
339.800 |
453.000 |
792.800 |
|
2) |
Other Income |
16.100 |
18.000 |
34.200 |
|
3) |
Total
Income ( 1 + 2 ) |
355.900 |
471.000 |
827.000 |
|
|
|
|
|
|
|
4) |
Total
Expenditure |
|
|
|
|
|
a) ( Increase ) / Decrease in
Stock in Trade and Work in Progress |
31.500 |
33.700 |
65.100 |
|
|
b) Consumption of Raw Materials |
230.900 |
324.600 |
555.500 |
|
|
c) Purchase of Traded Goods |
4.900 |
8.800 |
13.700 |
|
|
d) Employees Cost |
19.100 |
18.800 |
38.000 |
|
|
f) Power, Fuel & Water |
47.500 |
55.600 |
103.100 |
|
|
g) Depreciation |
10.300 |
12.200 |
22.500 |
|
|
h) Other Expenses |
16.600 |
17.500 |
33.100 |
|
5) |
Interest |
13.900 |
11.600 |
25.600 |
|
6) |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
7) |
Profit (+) / Loss (-) fromOrdinary
Activities before tax |
|
|
|
|
|
(3) - ( 4+5+6 ) |
(18.800) |
(11.800) |
(29.600) |
|
8) |
Tax
expenses |
|
|
|
|
|
Current |
0.300 |
0.000 |
1.300 |
|
|
Deferred |
(5.600) |
(2.700) |
(8.300) |
|
9) |
Net Profit (+) / Loss (-) from
Ordinary Activities after tax ( 7 - 8 ) |
(13.500) |
(9.100) |
(22.600) |
|
10) |
Extraordinary items ( net of tax
expenses ) |
0.000 |
0.000 |
0.000 |
|
11) |
Net Profit ( + ) / Loss ( - ) for
the period (9 - 10) |
(13.500) |
(9.100) |
(22.600) |
|
12) |
Paid up Equity Share Capital (Face
Value Rs.10/- per Share) |
42.000 |
42.000 |
42.000 |
|
|
|
|
|
|
|
13) |
Reserves excluding Revaluation
Reserve as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
|
|
|
|
|
|
14) |
Earnings
Per Share ( EPS ) |
|
|
|
|
|
a) Basic & diluted EPS before
Extraordinary items for the period, for the year to date and for the previous
year ( not to be annualized) |
(3.21) |
(2.17) |
(5.38) |
|
|
b) Basic & diluted EPS after
Extraordinary items for the period, for the year to date and for the previous
year (not to be annualized) |
-- |
-- |
-- |
|
|
|
|
|
|
|
15) |
Public
Shareholding |
|
|
|
|
|
- Number of Shares |
1910100 |
1910100 |
1910100 |
|
|
- Percentage of Shareholding |
45.49 |
45.48 |
45.49 |
|
|
|
|
|
|
|
16) |
Promoters
Promoter Group Shareholding |
|
|
|
|
|
a) Pledge/ Encumbered |
|
|
|
|
|
- Number of Shares |
-- |
-- |
-- |
|
|
- Percentage of Shareholding |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
b)
Non-Encumbered |
|
|
|
|
|
- Number of Shares |
2289900 |
2289900 |
2289900 |
|
|
- Percentage of Shareholding |
100.00 |
100.00 |
100.00 |
|
|
( as a % of the
total shareholding of Promoter and Promoter Group) |
|
|
|
|
|
Percentage of
Shares ( as a % of the Total Share Capital of the Company) |
54.51 |
54.52 |
54.51 |
NOTE:-
The result have been
reviewed by the Audit Committee and taken on record at the meeting of the Board
of Director held on 5th November 2012, after "Limited Review" by the
Auditors.
The Company is primarily
engaged in the business of Manufacturing of Maize Products. Since the inherent
nature of these activities are governed by the same set of risk and returns,
these have been grouped as a single segment in the above disclosure. The said
treatment is in accordance with the guiding principle enunciated in the
Accounting Standard on Segment Reporting (AS - 17). The other activities (
mainly for captive consumption ) of the Company where risk and returns are not
similar to that of the main activity are Diesel Pump, Wind Power Generation and
Distribution and Effluent Treatment Plant converting waste ( Effluent )
generated by the main plant into Bio-gas generation of Electricity from
Co-generation Plant. These activities, although can be termed as business
segment, are not reported separately above as they are not reportable segment
as defined under the Accounting Standard for segment reporting.
There were no Investor
complaints pending at the beginning of the quarter. There are one investor
complaints pending at the end of the quarter.
STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH
SEPTEMBER 2012
(RS. IN MILLIONS)
|
|
Particulars |
30.09.2012 |
|
|
|
Unaudited |
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
|
|
(1) |
Shareholder's
Funds |
|
|
|
(a) Share Capital |
42.000 |
|
|
(b) Reserve and Surplus |
45.365 |
|
|
|
|
|
(2) |
Non-Current
Liabilities |
|
|
|
(a)
Long-Term Borrowings |
314.054 |
|
|
(b)
Deferred Tax Liabilities (Net) |
57.137 |
|
|
|
|
|
(3) |
Current
Liabilities |
|
|
|
(a) Short Term Borrowings |
157.646 |
|
|
(b) Trade Payable |
160.716 |
|
|
(c)
Other Current Liabilities |
34.287 |
|
|
(d)
Short Term Provisions |
26.921 |
|
|
|
|
|
|
TOTAL |
838.126 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
|
|
(1) |
Non-Current
Assets |
|
|
|
(a) Fixed Assets |
529.755 |
|
|
(b) Non-Current Investments |
1.312 |
|
|
(c) Long Term Loans and Advances |
13.219 |
|
|
|
|
|
(2) |
Current
Assets |
|
|
|
(a) Inventories |
63.106 |
|
|
(b) Trade Receivable |
125.802 |
|
|
(c) Cash and Cash Equivalents |
26.460 |
|
|
(d)
Short Term Loans and Advances |
77.882 |
|
|
(e)
Other Current Assets |
0.590 |
|
|
|
|
|
|
TOTAL |
838.126 |
FIXED ASSETS:
·
Land
·
Building
·
Plant and machinery
·
Furniture and fixture
·
Office equipment
·
Computers
·
Vehicles
·
Paddle Boat
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.57 |
|
|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
36 |
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.