MIRA INFORM REPORT
|
Report Date : |
25.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
REPRO INDIA LIMITED |
|
|
|
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Registered
Office : |
11th Floor, Sun Paradise Business Plaza, B Wing, Senapati Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra |
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Country : |
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Financials (as on)
: |
31.03.2012 |
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Date of
Incorporation : |
01.04.1993 |
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Com. Reg. No.: |
11-071431 |
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Capital
Investment / Paid-up Capital : |
Rs.108.431
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L22200MH1993PLC071431 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR06821G |
|
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|
PAN No.: [Permanent Account No.] |
AAACR0379J |
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|
Legal Form : |
A Public Limited Liability
Company. The Company’s shares are listed on the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the
business of conceptualizing, designing, creating, processing, printing,
mailing and publishing booklets, magazines, brochures, printed posters and
annual reports. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6600000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record.
Financial position of the company appears to be strong. Performance capacity appears
to be high. Liquidity position of the company is good. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal 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 – 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
A1 (Commercial Paper) |
|
Rating Explanation |
Having very strong degree of safety regarding timely payments of
financial obligation. It carry lowest credit risk. |
|
Date |
December 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.
LOCATIONS
|
Registered Office |
11th Floor, Sun Paradise Business Plaza, B Wing, Senapati
Bapat Marg, Lower Parel, Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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|
Factory 1 : |
Plot No. A-50/2, TTC Industrial
Area, MIDC, Mahape, Navi Mumbai - 400 703, |
|
Tel No. : |
91-22-27782011 |
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Fax No. : |
91-22-27782038 |
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E-Mail : |
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|
Website : |
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Factory 2: |
Plot No. 90 to 93, 165, |
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Tel No. : |
91-261-3226511 / 2398587 |
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Fax No. : |
91-261-2398030 |
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E-Mail : |
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|
Website : |
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Factory 3 : |
No.146, East Coast Road, Injambakkam, Chennai – 600041, India |
DIRECTORS
As on: 31.03.2012
|
Name : |
Mr. Vinod Vohra |
|
Designation : |
Chairman |
|
Date of Birth : |
15.02.1952 |
|
Qualification : |
Science Graduate |
|
Date of Appointment: |
01.04.1993 |
|
|
|
|
Name : |
Mr. Sanjeev Vohra |
|
Designation : |
Managing Director |
|
Date of Birth : |
25.02.1957 |
|
Qualification : |
Graduate in Economics and Finance |
|
Date of Appointment: |
01.04.1993 |
|
|
|
|
Name : |
Mr. Mukesh Dhruve |
|
Designation : |
Whole Time Director |
|
Date of Birth : |
28.04.1960 |
|
Qualification : |
B.Com, FCA |
|
Date of Appointment: |
28.12.1993 |
|
|
|
|
Name : |
Mr. Rajeev Vohra |
|
Designation : |
Whole Time Director |
|
Date of Birth : |
08.10.1960 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
01.04.1993 |
|
|
|
|
Name : |
Mr. Pramod Khera |
|
Designation : |
Director |
|
Date of Birth : |
22.02.1960 |
|
Qualification: |
B. Tech. from IIT Delhi, PGDIM from IIM Bangalore and PhD
in “Knowledge Management” from Pune University |
|
Date of Appointment: |
18.05.2009 |
|
|
|
|
Name : |
Mr. Dushyant Mehta |
|
Designation : |
Whole Time Director |
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|
Name : |
Mr. Alyque Padamsee |
|
Designation : |
Non Executive Director |
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|
Name : |
Dr. Jamshed J Irani |
|
Designation : |
Non Executive Director |
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|
Name : |
Mr. Sanjay Asher |
|
Designation : |
Non Executive Director |
|
Date of Birth : |
26.11.1964 |
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Qualification: |
B.Com, FCA, LLB and Solicitor |
|
Date of Appointment: |
02.05.2000 |
|
|
|
|
Name : |
Mr. Ullal R. Bhat |
|
Designation : |
Non Executive Director |
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|
|
|
Name : |
Mr. P Krishnamurthy |
|
Designation : |
Non- Executive Director |
|
Date of Birth : |
28.10.1948 |
|
Date of
Appointment : |
23.05.2008 |
|
Qualifications : |
B.Com (Hons), St. Xavier’s College, University of Calcutta Chartered Accountant All India Rank Holder of the Institute of Chartered Accountants of
India |
KEY EXECUTIVES
|
Name : |
Ms. Madhavi Kulkarni |
|
Designation : |
Company Secretary and Compliance Officer |
SHAREHOLDING PATTERN
As on: 31.03.2013
|
Category
of Shareholder |
No.
of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1705218 |
15.65 |
|
|
5537643 |
50.82 |
|
|
7242861 |
66.47 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
7242861 |
66.47 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
182149 |
1.67 |
|
|
4890 |
0.04 |
|
|
790918 |
7.26 |
|
|
977957 |
8.97 |
|
|
|
|
|
|
180624 |
1.66 |
|
|
|
|
|
|
1203517 |
11.04 |
|
|
603522 |
5.54 |
|
|
688578 |
6.32 |
|
|
30399 |
0.28 |
|
|
35928 |
0.33 |
|
|
620901 |
5.70 |
|
|
1350 |
0.01 |
|
|
2676241 |
24.56 |
|
Total Public shareholding (B) |
3654198 |
33.53 |
|
Total (A)+(B) |
10897059 |
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) |
10897059 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the
business of conceptualizing, designing, creating, processing, printing,
mailing and publishing booklets, magazines, brochures, printed posters and
annual reports. |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S R Batliboi and Company Chartered Accountants |
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Address : |
2nd Floor, Union
Co-operative Insurance Building, 23, Sir Phiroz Shah Mehta Road, Fort, Mumbai
- 400 001, Maharashtra, India |
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|
|
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Solicitors : |
Crawford Bayley and Company |
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|
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Holding Company : |
Repro Enterprises Private Limited (formerly known as Reproductions Private Limited) |
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Subsidiary Company
: |
Repro Innovative Digiprint Limited |
CAPITAL STRUCTURE
As on: 22.09.2012
Authorised Capital : Rs.250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 109.010
Millions
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10843074 |
Equity Shares |
Rs.10/- each |
Rs.108.431
Millions |
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|
|
|
|
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 |
108.431 |
105.599 |
104.951 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1547.841 |
1288.684 |
1129.915 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1656.272 |
1394.283 |
1234.866 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1809.908 |
1391.136 |
1353.104 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1809.908 |
1391.136 |
1353.104 |
|
|
DEFERRED TAX LIABILITIES |
85.086 |
78.162 |
118.966 |
|
|
|
|
|
|
|
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TOTAL |
3551.266 |
2863.581 |
2706.936 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1641.957 |
1385.924 |
1339.649 |
|
|
Capital work-in-progress |
123.429 |
13.224 |
27.287 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.748 |
90.000 |
108.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
FOREIGN CURRENCY MONETARY ITEM TRANSLATION DIFFERENCE |
15.189 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
178.885
|
181.729 |
193.354
|
|
|
Sundry Debtors |
1028.630
|
830.826 |
668.395
|
|
|
Cash & Bank Balances |
724.951
|
511.042 |
350.781
|
|
|
Other Current Assets |
39.118
|
36.616 |
0.042
|
|
|
Loans & Advances |
641.566
|
363.549 |
278.274
|
|
Total
Current Assets |
2613.150
|
1923.762 |
1490.846 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
330.202
|
199.146 |
157.647 |
|
|
Other Current Liabilities |
343.546
|
238.007 |
43.647
|
|
|
Provisions |
169.459
|
112.176 |
57.552
|
|
Total
Current Liabilities |
843.207
|
549.329 |
258.846 |
|
|
Net Current Assets |
1769.943
|
1374.433 |
1232.000
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3551.266 |
2863.581 |
2706.936 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
3456.811 |
2686.491 |
2013.732 |
|
|
|
Other Income |
39.371 |
102.995 |
20.646 |
|
|
|
TOTAL (A) |
3496.182 |
2789.486 |
2034.378 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material and packing material consumed |
1733.508 |
1492.049 |
|
|
|
|
(Increase)/ Decrease in inventories of finished goods and work in
progress |
16.042 |
-15.686 |
|
|
|
|
Employee benefit expenses |
344.350 |
307.376 |
|
|
|
|
Other expenses |
784.952 |
620.380 |
|
|
|
|
Prior period expenses (net) |
3.898 |
0.000 |
|
|
|
|
TOTAL (B) |
2882.750 |
2404.119 |
1700.703 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
613.432 |
385.367 |
333.675 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D)
|
123.194 |
78.651 |
67.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
490.238 |
306.716 |
266.266 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
122.887 |
110.784 |
100.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
367.350 |
195.932 |
165.828 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.924 |
(31.991) |
(9.759) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
360.426 |
227.924 |
175.587 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
801.355 |
704.855 |
583.663 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
36.000 |
22.800 |
17.559 |
|
|
|
Proposed Dividend |
108.400 |
63.400 |
31.485 |
|
|
|
Tax on Dividend |
17.600 |
10.300 |
5.351 |
|
|
BALANCE CARRIED
TO THE B/S |
963.355 |
801.355 |
704.855 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
1950.739 |
1461.931 |
1103.694 |
|
|
TOTAL EARNINGS |
1950.739 |
1461.931 |
1103.694 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
192.785 |
185.899 |
562.044 |
|
|
|
Stores & Spares |
11.920 |
6.436 |
18.732 |
|
|
|
Capital Goods |
184.848 |
81.456 |
173.256 |
|
|
TOTAL IMPORTS |
389.553 |
273.791 |
754.032 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
|
|
|
|
|
|
Basic |
33.66 |
21.63 |
16.75 |
|
|
|
Diluted |
33.28 |
20.97 |
16.39 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 1st
Quarter |
30.09.2012 2nd
Quarter |
31.12.2012 3rd
Quarter |
|
Net Sales |
938.100 |
1008.200 |
963.700 |
|
Total Expenditure |
792.500 |
847.400 |
801.300 |
|
PBIDT (Excl OI) |
145.600 |
160.800 |
162.500 |
|
Other Income |
14.600 |
10.600 |
14.600 |
|
Operating Profit |
160.200 |
171.400 |
177.100 |
|
Interest |
27.200 |
27.200 |
30.300 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
133.000 |
144.300 |
146.800 |
|
Depreciation |
36.200 |
35.900 |
36.500 |
|
Profit Before Tax |
96.900 |
108.400 |
110.200 |
|
Tax |
6.600 |
17.700 |
0.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
90.200 |
90.700 |
110.200 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
90.200 |
90.700 |
110.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
10.31
|
8.17 |
8.63
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.63
|
7.29 |
8.23
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.63
|
5.92 |
5.86
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.14 |
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09
|
1.00 |
1.10
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.10
|
3.50 |
5.76
|
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
PERFORMANCE REVIEW:
There has been 29 % growth in revenue, from Rs.2686.500 Millions in 2011 to Rs.3456.800 Millions in 2012.The Operating Profit has grown by 60% from Rs.385.400 Millions to Rs.617.300 Millions. There has been a growth of 87% in Profit Before Tax, from Rs.195.900 Millions in 2011 to Rs.367.300 Millions in 2012 and 58% growth in PAT from Rs.227.900 Millions in 2011 to Rs.360.400 Millions in 2012.
OVERVIEW:
Across the world, education is a stepping stone in life. At Repro, education defines their drive to be far more than just a print company, as they emerge a provider of educational solutions. Within the educational delivery chain, Repro has been providing customized solutions in content, production and distribution to publishers around the world. From enabling content to managing it through its life cycle, converting it into different formats and providing logistical solutions, the Company’s focus is to enhance value for its clients. Its vision is to produce quality educational material for the clients’ end users – the students. The Company is working towards offering solutions
at every stage of the education value chain, so that its clients – educational publishers - can grow their business, while the Company continues to enhance education and achieve growth. The Company recognizes that knowledge and content are the key drivers for the future. It is expanding its capabilities to provide solutions to clients by investing in technologies, re-skilling people, and expanding capacities and preparing for the future.
DEVELOPMENTS DURING
THIS YEAR:
Keeping the changing needs of clients in mind, a solutions and services approach to business has become the defining edge for Repro. This approach has found manifestation in various value additions to their clients’ businesses such as marketing, store-front, fulfillment and logistics, customer service and an optimized print cycle. Repro India is diversifying its scope of solutions, moving from standalone print services to content management,
and conversion to new formats.
In the last year, the Company has made significant strides in entrenching itself as a leading global player in the education segment. One of the Company’s main strategies has been the focus on education, which offers immense opportunity in markets like India and Africa. Within the Indian market, the Company is fully equipped to cater to all four geographical regions in India, with the ability to execute print runs ranging from a single copy to a million copies.
Education is the crux of the Indian publishing industry and is slowly adapting itself to newer formats, such as the digital space. In India, the Company has succeeded in a price-sensitive market by offering services ranging from content to fulfillment solutions, in the form of warehousing and logistical support to its clients and managing their inventory right up to the last mile dispatch. Some of Repro’s key clients in India include Pearson, Macmillan, Oxford University Press, Orient Black swan, Laxmi Publication, Vikram, Saraswati Publications, etc.
In Africa, the Company’s range of products and unique solutions can help local publishers advance education. The Company has established itself in 22 African countries, predominantly in western, eastern and southern Africa. Some of the key services include adapting content to cater to a specific geographic region, providing endto- end content and print solutions across services like content management, content digitization, e-books, e-pub and many more services. Some of the key clients in the region are University Press Ltd., Cosmos Education
Publishers Ltd., Ben and Co. Ltd., Evans Brothers, HEBN Publishers Plc., Maskew Miller Longman, etc. The Company has been a part of a World Bank funded project. In FY 2011-12, Repro executed the single largest order of 22 million books for the Government of Nigeria. It was also awarded a direct World Bank tender in Ethiopia.
In Western markets, where e-learning is re-defining education, the Company is preparing for an exciting challenge, with substantial investments in technology. The scope of e-learning extends beyond just schools and higher education institutions to encompass the corporate world, as well. The Company offers services such as digitization of legacy content, with the ability to store millions of pages in the content warehouse and convert existing content into multiple formats.
STATEMENT
OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER
31, 2012
(Rs In Millions)
|
Sr. No. |
Particulars |
3
Months ended
31st December, 2012 (Unaudited) |
3
Months ended
30th September, 2012 (Unaudited) |
Year
to date figures
for current period
ended 31st
December, 2012 (Unaudited) |
|
1 |
Income from Operations |
|
|
|
|
|
(a) Net
sales/income from operations(Net of excise duty) |
945.137 |
976.701 |
2826.630 |
|
|
(b)
Other Operating Income |
18.593 |
31.456 |
83.358 |
|
|
Total income from operations (net) |
963.730 |
1008.157 |
2909.988 |
|
2 |
Expenses |
|
|
|
|
a) |
Cost
of Materials consumed |
435.516 |
421.040 |
1252.939 |
|
b) |
Changes
in inventories of finished goods,work-in-progress and stock-in-trade |
(16.166) |
(14.079) |
(9.923) |
|
c) |
Employee
benefits expense |
98.249 |
92.752 |
277.165 |
|
d) |
Depreciation
and amortisation expense |
36.542 |
35.847 |
108.535 |
|
e) |
Foreign
Exchange Fluctuation |
(8.614) |
87.913 |
121.115 |
|
f) |
Other
expenses |
283.677 |
259.735 |
791.211 |
|
|
Total expenses |
829.204 |
883.208 |
2541.042 |
|
3 |
Profit from Operations before Other
Income and Finance Costs (1-2) |
134.526 |
124.949 |
368.946 |
|
4 |
Other
Income |
6.019 |
10.619 |
31.196 |
|
5 |
Profit
from ordinary activities before finance costs (3+4) |
140.545 |
135.568 |
400.142 |
|
6 |
Finance
Costs |
30.308 |
27.155 |
84.646 |
|
7 |
Profit
from ordinary activities before prior period expenses (5+6) |
110.237 |
108.413 |
315.496 |
|
8 |
Prior
Period items (net) (refer note 5 below) |
- |
- |
- |
|
9 |
Profit from ordinary activities before
tax (7-8) |
110.237 |
108.413 |
315.496 |
|
10 |
Tax
Expenses |
|
|
|
|
a) |
Current
Tax (MAT) |
24.000 |
25.000 |
71.000 |
|
b) |
Mat
credit entitlement |
(24.000) |
(25.000) |
(71.000) |
|
c) |
Deferred
Tax |
- |
21.000 |
20.100 |
|
d) |
Tax for
earlier years |
- |
(3.272) |
4.235 |
|
11 |
Net profit for the period (9-10) |
110.237 |
90.685 |
291.161 |
|
12 |
Paid-up
equity share capital (Face value Rs. 10/- per share) |
108.944 |
108.863 |
108.944 |
|
13 |
Reserves
excluding revaluation reserves as per balance sheet of previous accounting
year |
- |
- |
- |
|
14 |
Earning Per Share (EPS) (of Rs. 10/-
each) (not annualised) |
|
|
|
|
a) |
Basic
EPS (Rs.) |
10.12 |
8.34 |
26.77 |
|
b) |
Diluted
EPS (Rs.) |
10.00 |
8.25 |
26.55 |
SELECT
INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 31, 2012
PARTICULARS
OF SHAREHOLDING
|
1 |
Public
shareholding: |
|
|
|
|
|
Number of shares |
3,651,495 |
3,643,395 |
3,651,495 |
|
|
Percentage of shareholding |
33.52% |
33.47% |
33.52% |
|
2 |
Promoters and
promoter group shareholding |
|
|
|
|
a |
Pledged/Encumbered Number of shares Percentage of shares (as a percentage of the total shareholding of promoter and promoter group) Percentage of shares (as a percentage of the total share capital of the Company) |
: |
: |
: |
|
b |
Non-Encumbered |
- |
- |
|
|
|
Number of shares |
7,242,864 |
7,242,864 |
7,242,864 |
|
|
Percentage of shares (as a percentage of the total shareholding |
100% |
100% |
100% |
|
|
of promoter and promoter group) |
|
|
|
|
|
Percentage of shares (as a Percentage of the total share |
66.48% |
66.53% |
66.48% |
|
|
capital of the Company) |
|
|
|
INVESTOR
COMNLAINTS
|
Particulars |
3 months
ended 31st December, 2012 |
|
Pending
at the beginning of the quarter |
NIL |
|
Received during the quarter |
2 |
|
Disposed
of during the quarter |
2 |
|
Remaining
unresolved at the end of the quarter |
NIL |
NOTES:
- The
above results were reviewed by the Audit Committee and approved by the
Board of Directors of the Company In its meeting held on 29th January,
2013.
- The
Company operates in one single business segment of "Value Added Print
Solutions". This, in the context of Accounting Standard 17 on Segment
Reporting, as specified in the Companies (Accounting Standards) Rules,
2006, is considered to constitute one single primary segment.
- There
has been an increase in the public and decrease in promoter percentage shareholding
during the quarter ended December31, 2012 owing to exercise of stock
options by the employees under the Repro India Limited - Employee Stock
Option Scheme, 2006.
- On
20.12.2012, the company has invested in 3,990,000 equity shares of Rs.10
each in Repro Knowledge cast Private Limited, its 100 % subsidiary.
- Prior
period items comprise of Rates and Taxes: Rs. 7.305 Millions for the
quarter ended September 30, 2011 and Rates and Taxes: Rs.7.305 Millions
net of other non-operating income Rs. 3.407 Millions for the year ended
March 31, 2012.
- Previous period
figures have been reclassified and regrouped wherever necessary.
FIXED ASSETS:
- Office
Premises
- Leasehold
Improvements
- Plant
and Machinery
- Office
Equipments
- Electrical
Installation and Fittings
- Furniture
and Fixtures
- Vehicles
- Air Conditioners
- Computer
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.55.61 |
|
|
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared by
: |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
55 |
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.