MIRA
INFORM REPORT
|
Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
HANJER FIBRES LIMITED |
|
|
|
|
Registered
Office : |
335, Shalimar House, Grant Road, Mumbai-400007, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.11.1991 |
|
|
|
|
Com. Reg. No.: |
11-063997 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 110.805 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17110MH1991PLC063997 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH06954D MUMH03011B |
|
|
|
|
Legal Form : |
Public Limited Liability Company.
The company’s shares are listed on the Stock Exchanges |
|
|
|
|
Line of Business
: |
Manufacturer of Coarse Cotton Yarn. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
No business Activity |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company which has kept its plant to remain close due to
non viability of the unit. Hence, no business activities were carried out
during 2012. There appear huge accumulated losses recorded by the company. Payments
terms are slow and delayed. The company can be considered for business dealings only on a safe and
fully secured 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 : |
335, Shalimar House, Grant Road, Mumbai-400007, |
|
Tel. No.: |
91-22-23018001 / 23871963 |
|
Fax No.: |
91-22-23887928 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2012
|
Name : |
Dr. Irfan Ashraf Furniturewala |
|
Designation : |
Chairman and Managing Director |
|
Address : |
62, Peridot, 22-A, Perry Cross Road, Bandra, Mumbai-400052,
Maharashtra, India |
|
Date of Birth/Age : |
13.11.1968 |
|
Date of Appointment : |
14.11.1999 |
|
DIN No.: |
00125762 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L17110MH1991PLC063997 |
HANJER
FIBRES LIMITED |
Managing
director |
14-11-99 |
14-11-99 |
- |
Active |
NO |
|
2 |
U67120MH1994PLC081128 |
MATRIX
CORPORATE SOLUTIONS LIMITED |
Director |
20-09-00 |
20-09-00 |
02-03-12 |
Active |
NO |
|
3 |
U80220MH2005PTC155818 |
LAKE
SIDE NEIGHBOURHOOD EDUCATION AND RECREATION SOCIETY PRIVATE LIMITED |
Director |
01-09-05 |
01-09-05 |
- |
Active |
NO |
|
Name : |
Mr. Gajanan Krishna Salunke |
|
Designation : |
Director |
|
Address : |
203, Sapana Co-operative Society, Sector VI, Charkop, Kandivali
(West), Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
21.09.1958 |
|
Date of Appointment : |
29.10.2004 |
|
DIN No.: |
00543309 |
|
|
|
|
Name : |
Mr. Natwarlal Tribhovandas Rana |
|
Designation : |
Director |
|
Address : |
2-4134, Anavil Sherry, Sagarampura 1, Surat-395005, Gujarat, India |
|
Date of Birth/Age : |
21.12.1944 |
|
Date of Appointment : |
31.03.1997 |
|
DIN No.: |
01661275 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17119GJ1979PLC003401 |
RAJKUMAR
SYNTHETICS MILLS LIMITED |
Nominee
director |
17-02-95 |
17-02-95 |
17-11-98 |
Dormant |
NO |
|
2 |
L17110MH1991PLC063997 |
HANJER
FIBRES LIMITED |
Director |
31-03-97 |
31-03-97 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
Note: Shareholder
details file attached.
AS ON 31.03.2013
|
|
No. of Shares |
% of No. of
Shares |
|
|
|
|
|
(1) Indian |
|
|
|
Any Others
(Specify) |
4832240 |
43.61 |
|
Directors of Promoters Companies |
4832240 |
43.61 |
|
|
4832240 |
43.61 |
|
(2) Foreign |
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
4832240 |
43.61 |
|
|
|
|
|
(1) Institutions |
|
|
|
|
85257 |
0.77 |
|
Sub Total |
85257 |
0.77 |
|
(2)
Non-Institutions |
|
|
|
Bodies Corporate |
1123009 |
10.14 |
|
Individuals |
|
|
|
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million |
1679883 |
15.16 |
|
Individual shareholders holding nominal
share capital in excess of Rs. 0.100 Million |
3284311 |
29.64 |
|
|
75800 |
0.68 |
|
|
75800 |
0.68 |
|
Sub Total |
6163003 |
55.62 |
|
Total Public
shareholding (B) |
6248260 |
56.39 |
|
Total (A)+(B) |
11080500 |
100 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0 |
|
|
0 |
0 |
|
(2) Public |
0 |
0 |
|
Sub Total |
0 |
0 |
|
|
11080500 |
0 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Coarse Cotton Yarn. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
||||||||||||||||||
|
Bankers : |
·
Punjab National Bank |
||||||||||||||||||
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|
||||||||||||||||||
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Facilities : |
|
||||||||||||||||||
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|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S M Bhat and Associates Chartered Accountant |
|
Address : |
338, Dheeraj Heritage, Opposite To Milan Subway, S V Road, Santazruz
(West), Mumbai-400054, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11475000 |
Equity Shares |
Rs.10/- each |
Rs. 114.750 Millions |
|
25000 |
Preference Shares |
Rs.10/- each |
Rs. 0.250 Million |
|
|
TOTAL |
|
Rs. 115.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11080500 |
Equity Shares |
Rs.10/- each |
Rs. 110.805
Millions |
|
|
|
|
|
NOTES
Details of shareholder holding more than 5% shares:
|
Name of
Shareholders |
As At 31st
March 2012 |
|
|
No. of Shares
Held |
% Holding |
|
|
Equity Shares with voting Rights |
2116500 |
19.10 |
|
Mohd. Irfan Ashraf Furniturewala |
1920000 |
17.33 |
Reconciliation of the number of shares outstanding is get our below:
|
Particulars |
As At 31st
March, 2012 No. of Shares |
|
Equity Shares at the beginning of the year |
11,080,500 |
|
Add: Shares issued |
0 |
|
Less: Shares Cancelled |
0 |
|
Equity Shares at end of the year |
11,080,500 |
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 |
110.805 |
110.805 |
110.805 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
(283.461) |
(263.890) |
3.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(243.004) |
|
|
NETWORTH |
(172.656) |
(153.085) |
(129.199) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
468.077 |
468.077 |
470.415 |
|
|
2] Unsecured Loans |
10.365 |
9.237 |
9.236 |
|
|
TOTAL BORROWING |
478.442 |
477.314 |
479.651 |
|
|
DEFERRED TAX LIABILITIES |
26.097 |
26.097 |
26.097 |
|
|
|
|
|
|
|
|
TOTAL |
331.883 |
350.326 |
376.549 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
149.099 |
163.000 |
176.902 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.086 |
0.086 |
0.086 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
3.399
|
6.799 |
13.597
|
|
|
Sundry Debtors |
164.932
|
165.497 |
168.866
|
|
|
Cash & Bank Balances |
0.957
|
0.949 |
3.388
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
31.857
|
34.126 |
34.223
|
|
Total
Current Assets |
201.145
|
207.371 |
220.074 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.833
|
19.325 |
|
|
|
Other Current Liabilities |
0.612
|
0.732 |
20.370
|
|
|
Provisions |
0.002
|
0.074 |
0.143
|
|
Total
Current Liabilities |
18.447
|
20.131 |
20.513 |
|
|
Net Current Assets |
182.698
|
187.240 |
199.561
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
331.883 |
350.326 |
376.549 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
0.000 |
0.000 |
0.000 |
|
|
|
Other Income |
0.018 |
0.615 |
0.735 |
|
|
|
TOTAL (A) |
0.018 |
0.615 |
0.735 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
3.242 |
6.484 |
0.528 |
|
|
|
Changes in inventories of finished goods stock in process and stock in
trade |
0.044 |
0.088 |
0.000 |
|
|
|
Employee benefits expenses |
0.975 |
1.104 |
0.982 |
|
|
|
Other expenses |
1.448 |
2.792 |
0.938 |
|
|
|
Auditors Remuneration |
0.000 |
0.000 |
0.150 |
|
|
|
Prior period adjustments |
(0.024) |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
5.685 |
10.468 |
2.598 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(5.667) |
(9.853) |
(1.863) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.001 |
0.131 |
76.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(5.668) |
(9.984) |
(78.363) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.902 |
13.902 |
13.903 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(19.570) |
(23.886) |
(92.266) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(19.570) |
(23.886) |
(92.266) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
NA |
(150.737) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
(243.003) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(1.71) |
(2.16) |
-- |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
0.000 |
0.000 |
|
Total Expenditure |
0.340 |
0.600 |
|
PBIDT (Excl OI) |
(0.340) |
(0.600) |
|
Other Income |
0.000 |
0.000 |
|
Operating Profit |
(0.340) |
(0.600) |
|
Interest |
0.000 |
0.000 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
(0.340) |
(0.600) |
|
Depreciation |
3.410 |
3.410 |
|
Profit Before Tax |
(3.750) |
(4.010) |
|
Tax |
0.000 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
(3.750) |
(4.010) |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
(3.750) |
(4.010) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(108722.22)
|
(3883.90) |
(12553.20) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
0.00 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.59)
|
(6.45) |
(23.24) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.16 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(2.77)
|
(3.12) |
(3.71) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
10.90
|
10.30 |
10.73 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
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 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Loan from Directors and Shareholders |
9.075 |
7.947 |
|
Loan from Corporate Bodies |
1.290 |
1.290 |
|
|
|
|
|
TOTAL |
10.365 |
9.237 |
OPERATIONS
During the year Company’s plant remained closed
due to non viability of the Unit. The company has not done any business
activities (Last year turnover Rs. Nil). The Company has incurred loss of Rs.
19.571 Millions after providing for tax as against loss of Rs. 23.886 Millions
in the previous year.
MANAGEMENT DISCUSSION AND ANALYSIS OVERVIEW The Company`s plants remained closed during the year due to non viability of the unit. The Company has not done any trading activities during the year. BUSINESS OF THE COMPANY During the year Company has not done any business activity. However, the Company is mainly engaged in the business of manufacturing Coarse Count Cotton Yarn and The Company has presently discontinued its business activities due to non viability of the unit. INDUSTRY STRUCTURE AND DEVELOPMENTS India has the unique distinction of possessing all possible varieties of cotton. India is able to offer a wide variety of cotton textiles since she is, perhaps, the producer of largest range of cottons in the world. Besides being one of the four biggest producers of raw cotton in the World. In between, there are all staple lengths and micromere values. And of course India has consumers with all kinds of incomes. The production of raw cotton in India has grown steadily. Over the years. However due to export of raw cotton post WTO 2005 the present product mix is unviable. BUSINESS OUTLOOK The product mix became a major problem as due to exports of short and medium staple cotton leading to major competition from China due to which the end products made out of short and medium staple cotton fibre became highly competitive in price hence unviable. Hence, turnaround can be expected only after forward integration and modification of product mix.
FIXED ASSETS
·
Site Development
·
Land
·
Factory
·
Building
·
Plant and Machinery
·
Fumitory and Fixture
·
Vehicles
·
Computer
·
Mobile Phone
AUDITED FINANCIAL
RESULTS FOR THE QUARTER AND YEAR ENDED ON 31st MARCH, 2013
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
|
|
|
|
31.03.2013 (Audited) |
31.12.2012 (Unaudited) |
31.03.2013 (Audited) |
|
1. |
Income from
Operations |
|
|
|
|
|
Net Sales |
0.000 |
0.000 |
0.000 |
|
|
Other Operating Income |
0.004 |
0.000 |
0.004 |
|
|
Net Sales/Income
from Operations |
0.004 |
0.000 |
0.004 |
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
Consumption of Raw Materials |
0.000 |
0.000 |
0.000 |
|
|
Change in Inventories of Finished Goods, Work-In-Progress
and Stock In Trade |
1.643 |
0.000 |
1.643 |
|
|
Employee Benefits Expenses |
0.237 |
0.245 |
0.957 |
|
|
Depreciation and Amortization Expenses |
3.412 |
3.412 |
13.649 |
|
|
Other Expenses |
0.781 |
0.238 |
1.480 |
|
|
f) Total |
6.073 |
3.895 |
17.729 |
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
(6.069) |
(3.895) |
(17.725) |
|
|
|
|
|
|
|
4. |
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
(6.069) |
(3.895) |
(17.725) |
|
|
|
|
|
|
|
6. |
Interest |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
(6.069) |
(3.895) |
(17.725) |
|
|
|
|
|
|
|
8. |
Exceptional Items |
-- |
-- |
-- |
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
(6.069) |
(3.895) |
(17.725) |
|
|
|
|
|
|
|
10. |
Tax Expense |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (9-10) |
(6.069) |
(3.895) |
(17.725) |
|
|
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
1.376 |
0.000 |
1.376 |
|
|
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
(7.446) |
(3.895) |
(19.102) |
|
|
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
110.805 |
110.805 |
110.805 |
|
|
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
3.000 |
3.000 |
3.000 |
|
|
|
|
|
|
|
16. |
Basic
and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
|
a) Basic and diluted EPS before extraordinary items |
0.00 |
0.00 |
0.00 |
|
|
b) Basic and diluted EPS after extraordinary items |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
17. |
Public
Shareholding |
|
|
|
|
|
-Number of Shares |
6248260 |
6248260 |
6248260 |
|
|
- Percentage of Shareholding |
56.39 |
56.39 |
56.39 |
|
|
|
|
|
|
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
836500 |
836500 |
836500 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
17.31 |
17.31 |
17.31 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
7.55 |
7.55 |
7.55 |
|
|
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
|
|
- Number of Shares |
3995740 |
3995740 |
3995740 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
82.69 |
82.69 |
82.69 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
36.06 |
36.06 |
36.06 |
STATEMENT OF ASSETS AND LIABILITIES
(Rs. In Millions)
|
PARTICULARS |
31.03.2013
AUDITED |
|
Equity and
liabilities |
|
|
Shareholders'
fund |
|
|
Share capital |
110.805 |
|
Reserve &
surplus |
(302.563) |
|
Sub-total - Shareholders' funds |
(191.758) |
|
Non - current
liabilities |
|
|
Long term
borrowings |
479.532 |
|
Deferred tax
liability (net) |
26.097 |
|
Long term
provisions |
0.000 |
|
Sub-total - Non-current liabilities |
505.629 |
|
Current
liabilities |
|
|
Short term
borrowings |
18.628 |
|
Trade payables |
1.299 |
|
Other current
liabilities |
0.000 |
|
Short term
provisions |
0.000 |
|
Sub-total - Current liabilities |
19.927 |
|
Total - Equity & Liabilities |
333.798 |
|
|
|
|
Assets |
|
|
Non-current
assets |
|
|
Fixed assets |
135.450 |
|
Capital work in
progress |
0.000 |
|
Non-current
investment |
0.086 |
|
Long term loans
& advances |
30.769 |
|
Other
non-current assets |
0.000 |
|
Sub-total - Non-current Assets |
166.305 |
|
Current assets |
|
|
Inventories |
1.700 |
|
Trade
receivables |
164.932 |
|
Cash & bank
balances |
0.841 |
|
Short term loans
& advances |
0.020 |
|
Other current
assets |
0.000 |
|
Sub-total - Current Assets |
167.493 |
|
Total – Assets |
333.798 |
NOTES
1.
The Company has discontinued its business
activities due to non viability of Unit.
2.
The above unaudited financial results were reviewed
by the Audit Committee and subsequently have been taken on record by the Board
of Directors at its Meeting held on 30th May 2013.
3.
The Company is operating in textile segment only.
4. Status of Investor
complaints: Opening NIL, Received and resolved during the quarter-Nil, Closing
NIL
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. 56.42 |
|
|
1 |
Rs. 86.53 |
|
Euro |
1 |
Rs. 73.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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.