MIRA INFORM REPORT
|
Report Date : |
31.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME TEX MART LIMITED (w.e.f. 05.09.2003) |
|
|
|
|
Formerly Known
As : |
SUPREME WOOLLEN MILLS LIMITED |
|
|
|
|
Registered
Office : |
424, Industrial Area – A, Cheema Chowk, Ludhiana – 14103,
Punjab |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
25.10.1988 |
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Com. Reg. No.: |
16-016933 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 322.063
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17117PB1988PLC016933 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JLDM02038B |
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|
|
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PAN No.: [Permanent Account No.] |
AAHCS9897D |
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Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer of Yarns and Garments. |
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|
|
|
No. of Employees
: |
1800 (Approximately) |
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 6500000 |
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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 record. It
has achieved a healthy growth in its sales turnover and profits earning
during 2012. Trade relations are reported as decent. 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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
SHORT TERM BANK FACILITIES : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
11.09.2012 |
|
Rating Agency Name |
CARE |
|
Rating |
LONG TERM BANK FACILITIES : BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
11.09.2012 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Robin |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-161-6614400 |
|
Date : |
29.07.2013 |
LOCATIONS
|
Registered Office : |
424, Industrial Area – A, Cheema Chowk, Ludhiana – 14103,
Punjab, India |
|
Tel. No.: |
91-161-2600593 / 2222719 / 6614400 / 2510622 / 2510320 / 2510097 |
|
Fax No.: |
91-161-2609949 / 2510584 |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
|
|
|
Factory 1 : |
Spinning Unit – 1
and 2 Village Kanganwal. P.O. Jugiana, Ludhiana, Punjab, India |
|
|
|
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Factory 2 : |
Dyeing Unit and
Hand Knitting Yarn Unit Phase – VIII, Focal Point, Ludhiana, Punjab, India |
|
|
|
|
Factory 3 : |
Apparel and Knits
Unit Village Paharuwal, P. O. Budhewal, Chandigarh Road,
Ludhiana, Punjab, India |
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|
|
|
Factory 4 : |
Garment Unit Village Paharuwal, Ludhiana, Punjab, India |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Mr. Ajay Mabajan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Sanjay Ahuja |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. A. P. Gupta |
|
Designation : |
Director |
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|
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|
Name : |
Mr. R. C. Singal |
|
Designation : |
Director |
|
|
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|
Name : |
Mr. B B Goel |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Marsel Menda |
|
Designation : |
Director |
|
|
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|
Name : |
Mr. Sanjay Gupta |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Gautam Gupta |
|
Designation : |
Joint Managing Director |
KEY EXECUTIVES
|
Name : |
Mr. Robin Vijan |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
28550748 |
44.21 |
|
|
7350000 |
11.38 |
|
|
1645222 |
2.55 |
|
|
37545970 |
58.14 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
37545970 |
58.14 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
4807143 |
7.44 |
|
|
4807143 |
7.44 |
|
|
|
|
|
|
5640166 |
8.73 |
|
|
|
|
|
|
1502365 |
2.33 |
|
|
7712475 |
11.94 |
|
|
7366844 |
11.41 |
|
|
88825 |
0.14 |
|
|
276642 |
0.43 |
|
|
7000000 |
10.84 |
|
|
1377 |
0.00 |
|
|
22221850 |
34.41 |
|
Total Public shareholding (B) |
27028993 |
41.86 |
|
Total (A)+(B) |
64574963 |
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) |
64574963 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Yarns and Garments. |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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|
Selling : |
Cash, Credit (30 Days / 60 Days) |
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|
|
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Purchasing : |
Cash, Credit (30 Days / 60 Days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
1800 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Ashish Agarwal and Company Chartered Accountants |
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Related Parties : |
|
CAPITAL STRUCTURE
AFTER 18.08.2012
Authorised Capital : Rs. 450.000
Millions
Issued, Subscribed & Paid-up Capital : Rs. 322.280 Millions
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
73000000 |
Equity Shares |
Rs.5/- each |
Rs. 365.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
64574963 |
Equity Shares |
Rs.5/- each |
Rs. 322.875
Millions |
|
|
Less : Calls in arrears – by others |
|
Rs. 0.812
Million |
|
|
|
|
Rs. 322.063 Millions |
NOTES:
a. Reconciliation of the number of shares outstanding
|
Particulars |
31.03.2012 |
|
|
No. of Shares |
Rs. In Millions |
|
|
At the beginning of the period |
52041633 |
259.397 |
|
Issued during the period |
12533330 |
62.667 |
|
Outstanding at the
end of the period |
64574963 |
322.064 |
b. Terms/rights attached to equity shares
The company has one class of equity shares
having a per value of Rs.5/- per share. Each holder of equity shares is
entitled to one vote per share. The company declared and pays dividends in
Indian rupees. The dividend proposed by the Board of Directors is subject to
the approval of the shareholders in the annual general meeting.
In the event of liquidation of the company,
the holders of equity shares will be entitled to receive remaining assets of
the company after distribution of all preferential amounts. The distribution
will be in proportion to the number of equity shares held by shareholders.
c. Details of shareholders holding more than 5% shares in the company
|
Particulars |
31.03.2012 |
|
|
No. of Shares |
% holding in
class |
|
|
Equity Shares of
Rs.5/- each fully paid |
|
|
|
Sindia Investment Group Pte. Limited |
4000000 |
10.84 |
|
Sinochamp Corporation Limited |
4807143 |
7.44 |
|
Chic-Tex Inc |
3840965 |
5.95 |
|
Punjab State Industrial Corporation Limited |
4500000 |
6.97 |
|
Gold Leaf International Private Limited |
4000000 |
6.19 |
|
Ram Lal Gupta |
4333400 |
6.71 |
|
Sanjay Gupta |
6912345 |
10.70 |
|
Ajay Gupta |
7408745 |
11.47 |
|
Bhavna Gupta |
3534665 |
5.47 |
|
White Stone Yarns Private Limited |
3350000 |
5.19 |
|
Venus Tex Spin Limited |
3350000 |
5.19 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND
LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
322.063 |
259.397 |
|
(b) Reserves & Surplus |
|
1309.246 |
804.536 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
208.636 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1631.309 |
1272.569 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1915.565 |
2104.438 |
|
(b) Deferred tax liabilities (Net) |
|
233.034 |
154.262 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
8.804 |
7.092 |
|
Total Non-current
Liabilities (3) |
|
2157.403 |
2265.792 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1376.734 |
1509.462 |
|
(b) Trade payables |
|
926.681 |
826.483 |
|
(c) Other current liabilities |
|
305.394 |
532.807 |
|
(d) Short-term
provisions |
|
62.417 |
37.011 |
|
Total Current
Liabilities (4) |
|
2671.226 |
2905.763 |
|
|
|
|
|
|
TOTAL |
|
6459.938 |
6444.124 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2773.407 |
2807.446 |
|
(ii) Intangible Assets |
|
6.145 |
2.968 |
|
(iii) Capital work-in-progress |
|
42.979 |
45.300 |
|
(iv)
Expenditure on Power Lines |
|
0.460 |
0.870 |
|
(v)
Intangible Assets Under Development |
|
0.000 |
4.871 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
35.333 |
87.400 |
|
(e) Other
Non-current assets |
|
44.275 |
62.242 |
|
Total Non-Current
Assets |
|
2902.599 |
3011.097 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1903.476 |
1696.689 |
|
(c) Trade receivables |
|
755.020 |
878.641 |
|
(d) Cash and cash equivalents |
|
63.393 |
93.615 |
|
(e) Short-term loans and advances |
|
607.118 |
553.875 |
|
(f) Other current assets |
|
228.332 |
210.207 |
|
Total Current Assets |
|
3557.339 |
3433.027 |
|
|
|
|
|
|
TOTAL |
|
6459.938 |
6444.124 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
199.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
527.100 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
726.200 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3197.600 |
|
|
2] Unsecured Loans |
|
|
402.300 |
|
|
TOTAL BORROWING |
|
|
3599.900 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4326.100 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2576.000 |
|
|
Capital work-in-progress |
|
|
35.100 |
|
|
Expenditure on Power Lines |
|
|
0.000 |
|
|
Other Non-Current Assets |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1283.500 |
|
|
Sundry Debtors |
|
|
368.900 |
|
|
Cash & Bank Balances |
|
|
106.400 |
|
|
Other Current Assets |
|
|
41.100 |
|
|
Loans & Advances |
|
|
784.100 |
|
Total
Current Assets |
|
|
2584.000 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
853.900 |
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
15.100 |
|
Total
Current Liabilities |
|
|
869.000 |
|
|
Net Current Assets |
|
|
1715.000 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4326.100 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
8447.911 |
5670.712 |
3663.700 |
|
|
|
Other Income |
17.722 |
10.792 |
(8.800) |
|
|
|
TOTAL (A) |
8465.633 |
5681.504 |
3654.900 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material consumed |
5457.103 |
3251.294 |
|
|
|
|
Purchase of traded goods |
872.230 |
752.938 |
|
|
|
|
(Increase) / Decrease in stock |
(113.467) |
(282.104) |
|
|
|
|
Employee Benefits Expenses |
157.509 |
151.125 |
|
|
|
|
Other Expenses |
1170.169 |
1081.502 |
|
|
|
|
TOTAL (B) |
7543.544 |
4954.755 |
3195.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
922.089 |
726.749 |
459.900 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
511.174 |
379.111 |
247.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
410.915 |
347.638 |
212.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
173.265 |
171.357 |
137.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
237.650 |
176.281 |
75.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
79.173 |
80.584 |
30.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
158.477 |
95.697 |
44.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1338.006 |
1292.127 |
NA |
|
|
TOTAL EARNINGS |
1338.006 |
1292.127 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
47.381 |
262.717 |
|
|
|
|
Stores & Spares |
15.010 |
13.888 |
|
|
|
|
Capital Goods |
6.765 |
275.678 |
|
|
|
TOTAL IMPORTS |
69.156 |
552.283 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.04 |
2.34 |
1.12 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
8900.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 10000.000 Millions
The above information has been parted by Mr. Robin.
QUARTERLY RESULTS
|
Particulars (Rs.
Millions) |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
Net Sales |
2163.300 |
1944.900 |
1932.300 |
2903.100 |
|
Total
Expenditure |
1931.800 |
1703.800 |
1719.400 |
2675.000 |
|
PBIDT (Excl OI) |
231.500 |
241.100 |
212.900 |
228.000 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
231.500 |
241.100 |
212.900 |
228.000 |
|
Interest |
127.600 |
127.000 |
118.000 |
119.500 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
104.000 |
114.100 |
94.900 |
108.500 |
|
Depreciation |
41.900 |
42.600 |
42.500 |
43.400 |
|
Profit Before
Tax |
62.100 |
71.500 |
52.300 |
65.100 |
|
Tax |
26.400 |
12.300 |
17.700 |
34.100 |
|
Provisions and
contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
35.700 |
59.200 |
34.600 |
31.000 |
|
Extraordinary
Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period
Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other
Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
35.700 |
59.200 |
34.600 |
31.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.87 |
1.68 |
1.22 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.81 |
3.11 |
2.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.70 |
2.76 |
1.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.14 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.02 |
2.84 |
4.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.18 |
2.97 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
TERM LOAN |
|
|
|
- From Directors |
0.684 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
WORKING CAPITAL
LOAN |
|
|
|
From Banks |
|
|
|
- Indian Rupee Loans |
3.119 |
0.000 |
|
From NBFC’s |
|
|
|
- Indian Rupee Loans |
10.125 |
0.000 |
|
|
|
|
|
TOTAL |
13.928 |
0.000 |
VIEW INDEX OF
CHARGES
|
S.
No. |
Charge
ID |
Date
of Charge Creation/Modification |
Charge
amount secured |
Charge Holder |
ADDRESS
|
Service
Request Number (SRN) |
|
1 |
10399731
|
28/12/2012
|
50,000,000.00
|
STATE BANK OF INDIA |
IFB, GOLDEN TOWER, DHOLEWAL
CHOWK, LUDHIANA, PUNJAB - 141003, INDIA |
B66785213
|
|
2 |
10361808
|
24/05/2012
|
450,000,000.00
|
CENTRAL BANK OF INDIA |
MCB,MILLER GANJ, LUDHIANA,
PUNJAB - 141003, INDIA |
B42122499
|
|
3 |
10263447
|
16/02/2012
* |
250,000,000.00
|
PUNJAB NATIONAL BANK |
LCB, R.K. ROAD, BHAGWATI
TOWER, R.K. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B36661775
|
|
4 |
10198826
|
16/02/2012
* |
135,000,000.00
|
PUNJAB NATIONAL BANK |
LCB, R.K. ROAD, BHAGWATI
TOWER, R.K. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B36660751
|
|
5 |
10196068
|
09/06/2010
* |
125,000,000.00
|
ALLAHABAD BANK |
IIFB, INDUSTRIAL AREA
"A", LUHDIANA, PUNJAB - 141003, INDIA |
A88997903
|
|
6 |
10166965
|
19/11/2009
* |
129,500,000.00
|
ALLAHABAD BANK |
IIFB, INDUSTRIAL AREA
"A", LUDHIANA, LUDHIANA, PUNJAB - 141003, INDIA |
A73744906
|
|
7 |
10166966
|
12/03/2013
* |
2,284,200,000.00
|
SBI CONSORTIUM SBI (LEADER)
AND PNB AND IDBI AND UBI AND C |
IFB, GOLDEN TOWER, DHOLEWAL
CHOWK, LUDHIANA, LUDHIANA, LUDHIANA, PUNJAB - 141001, INDIA |
B72554629
|
|
8 |
10125589
|
15/10/2008
|
87,500,000.00
|
SBI FACTORS AND COMMERCIAL
SERVICES PRIVATE LIMITED |
BXXI-14627, GANDHI NAGAR, NEAR
DHOLEWAL CHOWK, G |
A48128136
|
|
9 |
10051235
|
29/06/2009
* |
90,000,000.00
|
UCO BANK |
MID CORPORATE BRANCH, R.K.
ROAD, NEAR CHEEMA CHOWK, LUDHIANA, PUNJAB - 141003, INDIA |
A65941593
|
|
10 |
10034666
|
16/02/2012
* |
750,000,000.00
|
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, R.K.
ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B36662153
|
|
11 |
90172164 |
30/06/2009 * |
939,300,000.00 |
STATE BANK OF INDIA |
SCB, FOCAL POINT, PHASE-V,
LUDHIANA, LUDHIANA, PUNJAB - 141013, INDIA |
A65394447 |
|
* DATE OF CHARGE MODIFICATION |
||||||
COMPANY OVERVIEW
Subject is an integrated textile organization based at Ludhiana, Subject
manufactures various types of yarns and garments for customers in domestic and
international markets.
OPERATIONS
Production in both the spinning units was 222.51 lacs kgs. as
compared to the
figure of 204.47 lacs kgs. In the garment unit, 17.24 lacs pieces
of garments and
2393 MT Fabric were produced as
compared to the
figure of previous year of 23.95 lacs pieces of
garments and 2611 MT of fabric. Net
Turnover during the year has shown an increase of 48.97%. There is net profit of Rs.158.400 Millions as
compared to net profit of Rs.95.700 Millions in the previous year. Cash profit
during the current year ending on 31.03.2012 increased to Rs.410.500 Millions
from the figure of Rs. 340.700 Millions in the previous year ending on 31.03.2011
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY OUTLOOK
The fortune of Textiles Industry in the recent past has been
characterized by frequent swings. This
is true for both Cotton as well as Synthetic sectors of the business.
Consequently, the industry has been constantly occupied in coping with these
ups and downs. This has coupled with the instability rates of foreign
currencies. This constant turmoil has required the industry to involve itself
in restructuring its operations to make it more responsive to the rapid market
changes
The problem affecting the textile
sector have been originating from two directions- one is frequent changes in fiber cost (mainly
cotton) and the other being the economic
turmoil in major purchasing countries resulting in poor off take of yarn, fabric and garments. Even
the domestic market has seen very difficult times in last year reflecting the
pessimistic mood of customers.
Consequently, the biggest issue has been that of maintaining price
levels in an environment of rising costs.
FINANCIAL/OPERATIONAL
PERFORMANCE
Supreme is manufacturer
and exporter of cotton yarn,
synthetic yarn, blended yarn,
knitted fabric (both
grey and processed)
and knitted garments. During the year, the Company`s exports (FOB
value) were to the tune of Rs. 1338.000 Millions and accounts for about 15.80%
of company`s revenues. The company has identified two segment yam segment and
garments segment. The yarn segment comprises production of various types of
yarn (from cotton, manmade fibers and blend thereof) and yarn processing
activities. Garment segment comprises of knitted garments.
CONTINGENT
LIABILITY:
(Rs.
In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
|
Bank Guarantee Outstanding |
0.200 |
0.700 |
|
Bills discounted with bank against irrevocable letter of credit |
119.097 |
209.112 |
|
Income tax demand |
0.000 |
0.603 |
FIXED ASSETS:
- Freehold Land
- Leasehold Land
- Buildings
- Plant and Equipments
- Vehicles
- Office Equipments
- Computer Equipments
WEBSITE DETAILS
PROFILE
At Supreme their biggest strength is the superior quality products they
produce. They move with the notion that Customer service is a way of life. They
develop relations with their customers extend beyond the boundaries of market
place. They firmly believe in providing their customers with sales support and
developing intimate relations with them.
Their quality is the result of state of the art technology and in house Research
and Development in each unit. They have a well experienced and highly motivated
technical team, which is trained to produce the best quality products by
maintaining regulation and inspection in all aspects of quality control. They
continue to move towards exploring new horizons by constantly innovating their
product mix. Their technical team travels around the world in order to produce
best quality at minimal costs.
Their plants are located at Ludhiana (Punjab) in India. This is an
industrial city with all infrastructural facilities available thereat. This
city has a dry port of customs, enabling the efficient handling of exports and
imports of any volume.
Their goal therefore calls for serving their customers with a multiple
range of products meeting the most diverse of requirements. This, in fact has
positioned Supreme as a “Super Mart for High Quality Textile Products”.
MANAGEMENT
Mr. Sanjay Gupta,
Managing Director
Mr. Sanjay Gupta started his career in the field of textiles and
engineering and has an experience of 23 years in textile industry. He has led
in expanding the operations of the company from a single manufacturing facility
to current operations at 5 different locations .He has been instrumental in
setting up of Supreme Tex Mart Limited and has contributed significantly by
tactically positioning Supreme in the global textile industry.
Mr. Ajay Gupta,
Joint Managing Director
Mr. Ajay Gupta started his career in textiles and has indispensable
experience of 22 years in this industry. At Supreme he has been the pioneer in
streamlining business processes and developing astute production systems. He
has been instrumental in setting up of Supreme Tex Mart Limited and led in
establishing strong relationships with third-party manufacturing units and
leading retailers all over the world.
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. 59.82 |
|
|
1 |
Rs. 91.75 |
|
Euro |
1 |
Rs. 79.32 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.