MIRA
INFORM REPORT
|
Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
CAPLIN POINT LABORATORIES LIMITED |
|
|
|
|
Registered
Office : |
“Narbavi”, No.03, Lakshmanan Street, T. Nagar, Chennai – 600 017,
Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2012 |
|
|
|
|
Date of
Incorporation : |
16.04.1990 |
|
|
|
|
Com. Reg. No.: |
18-019053 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 151.100
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24231TN1990PLC019053 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC00929F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCC2667F |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture of wide range of Ointments, Creams and other
External application preparations in addition to the regular segments of pharmaceutical
formulations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payment are
reported to be usually correct. 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 |
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from January
1 next year, said Rural Development Minister Jairam Ramesh. The Act replaces a
119 year old registration. The Securities and Exchange Board of India has
approved the trading of currency futures on the Bombay Stock Exchange. The
exchange plans to launch the currency futures platform with advanced trading
technology by the end of November.
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/Corporate office : |
“Narbavi”, No.03, Lakshmanan Street, T. Nagar, Chennai – 600 017,
Tamil Nadu, India |
|
Tel. No.: |
91-44-28156653/ 28156905 |
|
Fax No.: |
91-44-28154952 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
FACTORY |
|
|
|
|
|
Unit 1: |
R.S. No.85/3, |
|
Tel. No.: |
91-413-2674402 / 2674137 |
|
Fax No.: |
91-413-2674002 |
|
E-Mail : |
|
|
|
|
|
Unit 2 : |
19, |
|
Tel. No.: |
91-44-27940274 / 65311262 |
|
Fax No.: |
91-44-27940274 |
|
E-Mail : |
|
|
|
|
|
Unit 3: |
Khasra No. 435, Village Suraj Majra, N.H.No. 21, Baddi, Teh Nalagarh, Dist Solan, Himachal Pradesh – 173205, India |
|
E-Mail : |
|
|
|
|
|
Unit 4: |
Guruvarajakandigai, Sirupuzhalpettai (Post), Gummidipoondi Taluka, Thiruvallur District, Tamil Nadu – 601 201, India |
DIRECTORS
|
Name : |
Mr. C C Paarthipan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. M Jaypal |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. D. P. Mishra |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. P T Baby Thomas |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. V Thirumalai |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Venkat Radhakrishnan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. N.R.Achan |
|
Designation : |
Director (Resigned w.e.f 4.10.2012) |
|
|
|
|
Name : |
Mr. R.Vijay Venkatraman |
|
Designation : |
Director (Appointed w.e.f 4.10.2012) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding
as a % of Total No. of Shares |
|
|
|
|
|
(A) Shareholding of
Promoter and Promoter Group |
|
|
|
|
|
|
|
|
814812 |
5.39 |
|
|
7824541 |
51.78 |
|
|
7824541 |
51.78 |
|
|
8639353 |
57.18 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
8639353 |
57.18 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
12200 |
0.08 |
|
|
700 |
0.00 |
|
|
12900 |
0.09 |
|
|
|
|
|
|
483025 |
3.20 |
|
|
|
|
|
|
2898968 |
19.19 |
|
|
2940971 |
19.46 |
|
|
134783 |
0.89 |
|
|
88324 |
0.58 |
|
|
959 |
0.01 |
|
|
45500 |
0.30 |
|
|
6457747 |
42.74 |
|
Total Public
shareholding (B) |
6470647 |
42.82 |
|
Total (A)+(B) |
15110000 |
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) |
15110000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of wide range of Ointments, Creams and other
External application preparations in addition to the regular segments of
pharmaceutical formulations. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
The Catholic Syrian Bank Limited, Mount Road Branch, Tarapore Towers,
Chennai 600002, Tamilnadu, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
M Raghunath and Company Chartered Accountants |
|
Address : |
4, Stringer Street, III Floor, Broadway, Chennai - 600 001, Tamilnadu, India |
|
|
|
|
Cost Auditors: |
G. Thangaraj Chartered Accountant |
|
|
8, G1, Parthasarathy Street, Arcot Road, Saligramam, Chennai 600093, Tamilnadu, India |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17000000 |
Equity Shares |
Rs.10/- each |
Rs. 170.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15110000 |
Equity Shares |
Rs.10/- each |
Rs. 151.100
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
30.06.2012 |
30.06.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
151.100 |
151.100 |
|
(b) Reserves & Surplus |
|
189.003 |
142.274 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
340.103 |
293.374 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
15.519 |
0.849 |
|
(b) Deferred tax liabilities (Net) |
|
24.715 |
15.339 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
2.662 |
1.999 |
|
Total Non-current
Liabilities (3) |
|
42.896 |
18.187 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
52.034 |
94.554 |
|
(b)
Trade payables |
|
203.480 |
168.608 |
|
(c)
Other current liabilities |
|
361.060 |
107.042 |
|
(d) Short-term
provisions |
|
40.613 |
31.239 |
|
Total Current
Liabilities (4) |
|
657.187 |
401.443 |
|
|
|
|
|
|
TOTAL |
|
1040.186 |
713.004 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible
assets |
|
258.451 |
232.065 |
|
(ii)
Intangible Assets |
|
0.473 |
0.580 |
|
(iii)
Capital work-in-progress |
|
127.909 |
1.714 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
12.378 |
11.977 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
108.251 |
37.453 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
507.462 |
283.789 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
56.168 |
51.607 |
|
(c)
Trade receivables |
|
72.832 |
76.364 |
|
(d) Cash
and cash equivalents |
|
276.126 |
215.718 |
|
(e)
Short-term loans and advances |
|
115.804 |
81.101 |
|
(f)
Other current assets |
|
11.794 |
4.425 |
|
Total
Current Assets |
|
532.724 |
429.215 |
|
|
|
|
|
|
TOTAL |
|
1040.186 |
713.004 |
|
SOURCES OF FUNDS |
|
|
30.06.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
151.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
103.255 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
254.355 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
103.704 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
103.704 |
|
|
DEFERRED TAX LIABILITIES |
|
|
10.874 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
368.933 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
206.292 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
10.563 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
41.539 |
|
|
Sundry Debtors |
|
|
90.313 |
|
|
Cash & Bank Balances |
|
|
146.417 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
109.913 |
|
Total
Current Assets |
|
|
388.182 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
0.000 |
|
|
Other Current Liabilities |
|
|
190.574 |
|
|
Provisions |
|
|
45.530 |
|
Total
Current Liabilities |
|
|
236.104 |
|
|
Net Current Assets |
|
|
152.078 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
368.933 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1076.206 |
830.246 |
580.531 |
|
|
|
Other Income |
23.895 |
25.506 |
44.070 |
|
|
|
TOTAL (A) |
1100.101 |
855.752 |
624.601 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
311.307 |
232.982 |
|
|
|
|
Purchase of traded goods |
476.290 |
408.131 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
3.858 |
(4.838) |
|
|
|
|
Employee benefit expenses |
61.414 |
40.930 |
|
|
|
|
Other expenses |
8.769 |
62.243 |
|
|
|
|
TOTAL (B) |
861.638 |
739.448 |
557.044 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
128.686 |
116.304 |
67.557 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.769 |
10.022 |
10.147 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
119.917 |
106.282 |
57.410 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.550 |
22.772 |
20.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
108.367 |
83.510 |
36.483 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
26.516 |
18.149 |
3.165 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
81.851 |
65.361 |
33.318 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
83.460 |
50.977 |
38.611 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.500 |
6.536 |
3.331 |
|
|
|
Dividend |
30.220 |
22.665 |
15.111 |
|
|
|
Tax on Dividend |
4.902 |
3.677 |
2.510 |
|
|
BALANCE CARRIED TO
THE B/S |
121.689 |
83.460 |
50.977 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
897.382 |
695.299 |
510.669 |
|
|
TOTAL EARNINGS |
897.382 |
695.299 |
510.669 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
380.552 |
344.556 |
250.072 |
|
|
|
Capital Goods |
39.056 |
8.290 |
1.728 |
|
|
TOTAL IMPORTS |
419.608 |
352.846 |
251.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.42 |
4.33 |
2.21 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2012 |
30.06.2011 |
30.06.2010 |
|
- |
(%) |
7.45 |
7.63 |
5.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.07 |
10.06 |
6.29 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.04 |
11.94 |
6.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.29 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.20 |
0.32 |
0.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.81 |
1.07 |
1.65 |
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 |
No |
|
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 |
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 |
OPERATIONS AND
OUTLOOK
They are glad to inform the Members that the Company has crossed the milestone of 100 CRORE Revenue Mark in the year. This has been achieved mainly on account of ttheir deep inroads in Southern and Central America, Company’s growing market presence, innovative marketing strategies and introduction of new product. It is hoped that with the continued efforts in exploring new markets/products in the established markets, the growth will be sustained during the coming years.
In addition, the Company has added substantial machinery/equipment at the unit of the Company at Pondicherry. Considering the status of the plant and the productivity, subsequent to the close of the year ttheir facility at Gummidipoondi is being revamped and during the interregnum period due to investment in balancing machinery at Pondicherry there shall not be any effect on the overall production target during the current year.
Ttheir expansion plan into the manufacture of injectibles intended for export to regulated markets is nearing completion and expected to commence trial run during the Third/fourth quarter of the current year. Senior technical personnel have already been recruited and plans are under way for preparation for approval of the plant and registration of product lines with the regulatory authorities.
MANAGEMENT DISCUSSION
AND ANALYSIS
INDUSTRY STRUCTURE AND
DEVELOPMENT / OPPORTUNITY – THREAT, RISK AND CONCERNS
In order for the company to derisk its dependence on the South/North America and West African Markets the company has now embarked upon an ambitious Project to set up an injectible plant with UK/MHR standards/approvals which will pave way for newer markets as well as additional revenue in the existing market where the company is strongly placed. However the threat of unpredictable fluctuations in foreign currencies did impact the bottom-line of the Company
OUTLOOK FOR THE YEAR
2012-13
The Company’s sustained focus on quality of products by investing in manufacturing capabilities and recruiting experienced technical people who have exposure in a large environment and with more aggressive marketing strategies coupled with the expansion plans will enable company to continue its growth path and will very soon join the select league of niche manufacturers of pharmaceutical formulations catering to the needs of the regulated markets. The resulting outcomes in terms of quality improvement, greater production efficiencies and better recognition in the markets for the Company’s products auger well for the future growth of the company.
AUDITED STANDALONE
FINANCIAL RESULTS FOR THE YEAR ENDED 30th JUNE 2013
|
|
Particulars |
Audited |
Unaudited |
Audited |
|
|
|
30.06.2013 |
31.03.2013 |
30.06.2013 |
|
1 |
Income |
|
|
|
|
|
Net Sales/ income from operations (Net of Excise Duty) |
345.214 |
279.677 |
1187.817 |
|
|
Foreign Exchange Fluctuation Gain |
-- |
1.091 |
-- |
|
|
Share of profits in LLP |
14.104 |
10.370 |
38.905 |
|
|
Total |
359.318 |
291.138 |
1226.722 |
|
|
|
|
|
|
|
2 |
Expenditure |
|
|
|
|
|
Cost of materials consumed |
81.476 |
71.795 |
308.441 |
|
|
Purchase of Stock-in-Trade |
155.012 |
121.409 |
527.334 |
|
|
Change in inventories of Finished Goods, work in progress and stock in trade |
(1.905) |
3.554 |
(10.697) |
|
|
Employees benefit expenses |
23.480 |
19.780 |
79.654 |
|
|
Depreciation |
4.363 |
3.477 |
14.377 |
|
|
Amortisation of Intangible Assets |
0.074 |
0.027 |
0.155 |
|
|
Foreign Exchange Fluctuation Loss |
39.994 |
-- |
21.866 |
|
|
Other Expenditure |
24.217 |
20.732 |
84.736 |
|
|
Total |
326.711 |
240.774 |
1025.866 |
|
3 |
Profit(+)/Loss(-) from
Operations before other income and finance cost and exceptional items (1-2) |
32.607 |
50.364 |
200.857 |
|
4 |
Other Income |
3.032 |
2.065 |
17.330 |
|
5 |
Profit(+)/Loss(-)
from ordinary activities before finance cost and exceptional items (3+4) |
35.639 |
52.429 |
218.187 |
|
6 |
Finance cost |
(1.515) |
(0.254) |
(3.006) |
|
7 |
Profit(+)/Loss(-)
from Ordinary Activities after finance cost but before exceptional cost (5-6) |
34.124 |
52.175 |
215.180 |
|
8 |
Exceptional items |
-- |
-- |
-- |
|
9 |
Profit(+)/Loss(-)
from Ordinary Activities before Tax (7-8) |
34.124 |
52.175 |
215.180 |
|
10 |
Provision for Taxation |
(7.400) |
(11.500) |
(47.400) |
|
|
Provision for Wealth Tax |
(0.100) |
-- |
(0.100) |
|
|
Provision for Taxation - earlier years |
(0.856) |
-- |
(0.856) |
|
|
Deferred Tax Provision |
(9.356) |
(4.008) |
(23.232) |
|
|
Mat Credit Entitlement |
(0.527) |
-- |
(0.527) |
|
11 |
Net Profit (+)/
Loss (-) From Ordinary Activities after tax (9-10) |
15.885 |
36.667 |
143.065 |
|
12 |
Extraordinary Item (net of tax expenses |
-- |
-- |
-- |
|
13 |
Net Profit (+)/
Loss (-) For the period (11-12) |
15.885 |
36.667 |
143.065 |
|
14 |
Paid up equity share capital (face value of the share Rs. 10/- each |
151.100 |
151.100 |
151.100 |
|
15 |
Reserves excluding revaluation reserves as per previous balance sheet |
-- |
-- |
250.535 |
|
16 |
Earnings
per share (not annualised) in Rs. |
|
|
|
|
|
-
Basic |
1.05 |
2.43 |
9.47 |
|
|
-
Diluted |
1.05 |
2.43 |
9.47 |
|
|
|
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
-Number
of Shares |
6470647 |
6470647 |
6470647 |
|
|
-
Percentage of Shareholding |
42.82% |
42.82% |
42.82% |
|
|
|
|
|
|
|
2. |
Promoters and Promoter Group
Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
-
Number of Shares |
Nil |
Nil |
Nil |
|
|
-
Percentage of Shares (as a % of the Total Shareholding of promoter and
promoter group) |
-- |
-- |
-- |
|
|
- Percentage
of Shares (as a % of the Total Share Capital of the Company) |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
|
-
Number of Shares |
8639353 |
8639353 |
8639353 |
|
|
- Percentage
of Shares (as a % of the Total Shareholding of Promoter and Promoter Group) |
100% |
100% |
100% |
|
|
-
Percentage of Shares (as a % of the Total Share Capital of the Company) |
57.18% |
57.18% |
57.18% |
|
Particulars |
For the quarter ended on 30.06.2013 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
17 |
|
Disposed of during the quarter |
15 |
|
Remaining unresolved at the end of the
quarter |
2 |
STANDALONE STATEMENT OF ASSETS AND LIABILITIES
(Rs. In Millions)
|
|
As at 30.06.2013 |
|
EQUITY AND
LIABILITIES |
|
|
(1)Shareholders'
Funds |
|
|
(a) Share Capital |
151.100 |
|
(b) Reserves & Surplus |
287.873 |
|
Total Shareholders’
Funds |
438.973 |
|
|
|
|
(2) Non-Current
Liabilities |
|
|
(a) long-term borrowings |
34.514 |
|
(b) Deferred tax liabilities (Net) |
47.946 |
|
(c) long-term
provisions |
3.783 |
|
Total Non-current
Liabilities |
86.243 |
|
|
|
|
(3) Current
Liabilities |
|
|
(a) Short term borrowings |
0.530 |
|
(b) Trade payables |
223.715 |
|
(c) Other current liabilities |
471.419 |
|
(d) Short-term provisions |
59.259 |
|
Total Current
Liabilities |
754.923 |
|
|
|
|
TOTAL |
1280.139 |
|
|
|
|
ASSETS |
|
|
(1) Non-current
assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
308.132 |
|
(ii) Intangible Assets |
1.926 |
|
(iii) Capital work-in-progress |
513.075 |
|
(iv) Intangible assets under development |
0.901 |
|
(b) Non-current Investments |
12.881 |
|
(c) Long-term Loan and Advances |
106.551 |
|
|
943.466 |
|
|
|
|
(2) Current assets |
|
|
(a) Inventories |
89.192 |
|
(b) Trade receivables |
5.982 |
|
(c) Cash and cash equivalents |
134.528 |
|
(d) Short-term loans and advances |
101.025 |
|
(e) Other current assets |
5.946 |
|
|
336.673 |
|
TOTAL |
1280.139 |
NOTES:
1) The Company operates in one segment only.
2) The financial results of the company for the year ended 30-6-2013 which have been audited by the statutory auditors have been reviewed by the Audit Committee of the Board and have been approved by the Board of Directors at its meeting held on 16-08-2013
3) The Board of Directors at their meeting held on 16-08-2013, had recommended a final dividend of 25% subject to the approval of the Shareholders at the ensuing Annual General Meeting
4) The figures for the quarter ended June 30,2013 are the balancing figures between the audited figures in respect of the full financial year and the published year to date figures (Unaudited) upto the third quarter of the current financial year.
5) Investor complaints 2 Nos. pending at the end of current quarter were since resolved in the month of July 2013.
6) Prior /period figures are regrouped / rearranged wherever necessary.
DETAILS AS PER CLAUSE
20 OF THE LISTING AGREEMENT
|
Sr. No. |
Particulars |
As on 30.06.2013 |
|
1 |
Net Sales / Income from Operations and |
|
|
|
Other Income |
1244.052 |
|
|
|
|
|
2 |
Total Expenditure |
1011.334 |
|
|
Profit before interest, depreciation, & taxes |
232.718 |
|
3 |
Interest |
3.006 |
|
|
|
|
|
5 |
Depreciation |
14.532 |
|
|
Profit before tax |
215.180 |
|
6 |
Provision for Taxation |
|
|
|
- Current Tax |
48.256 |
|
|
- Current Wealth Tax |
0.100 |
|
|
- Deferred Tax |
23.232 |
|
|
|
|
|
7 |
Taxation relating to earlier years |
0.527 |
|
|
|
|
|
8 |
Net Profit / (Loss) after Tax |
143.065 |
|
|
|
|
|
9 |
Profit / (Loss) brought forward |
121.689 |
|
|
|
|
|
10 |
Appropriation |
264.754 |
|
|
Proposed Dividend |
37.775 |
|
|
Tax on Proposed Dividend |
6.420 |
|
|
Transfer to General Reserve |
15.000 |
|
|
Transfer from Investment Reserve |
(0.120) |
|
|
Transfer from Subsidy |
(0.071) |
|
|
|
|
|
11 |
Balance profit carried forward |
205.751 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10344453 |
31/01/2012 |
75,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
826 GROUND FLOOR, TARAPORE TOWERS, MOUNT ROAD BRANCH, CHENNAI, TAMIL NADU - 600002, INDIA |
B35868769 |
|
2 |
10344483 |
31/01/2012 |
125,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
826 GROUND FLOOR, TARAPORE TOWERS, MOUNT ROAD BRANCH, CHENNAI, TAMIL NADU - 600002, INDIA |
B35875194 |
|
3 |
10073263 |
31/01/2012 * |
30,000,000.00 |
THE CATHOLIC SYRIAN BANK LTD |
826, TARAPORE TOWERS, MOUNT ROAD, CHENNAI, TAMIL |
B35875434 |
|
4 |
10052661 |
31/01/2012 * |
215,000,000.00 |
THE CATHOLIC SYRIAN BANK LIMITED |
826 GROUND FLOOR, TARAPORE TOWERS, MOUNT ROAD BRANCH, CHENNAI, TAMIL NADU - 600002, INDIA |
B35874759 |
|
5 |
80027571 |
05/09/2000 |
8,500,000.00 |
CATHOLIC SYRIAN LIMITED |
MOUNT ROAD, CHENNAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
6 |
90281799 |
21/01/1994 |
1,000,000.00 |
INDIAN OVERSEAS BANK |
WEST MAMBALAM BRANCH, MADRAS, TAMIL NADU - 600033, |
- |
* Date of charge modification
Fixed Assets:
o
Goodwill
o
Land
o
Buildings
o
Plant and Machinery
o
A/C Plant
o
Furniture and Fixture
o
Office Equipments
o
Electrical Fittings
o
Electrical Installations
o
Motor Vehicles
o
Tools and Spares
o
Lab Equipments
o
Cycle
o
Furniture and Fixturekenya
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. 62.45 |
|
|
1 |
Rs. 100.87 |
|
Euro |
1 |
Rs. 84.51 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.