MIRA
INFORM REPORT
|
Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
EMAMI BIOTECH LIMITED (w.e.f.13.07.2007) |
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|
|
|
Formerly Known
As : |
EMAMI BIOTECH
PRIVATE LIMITED (w.e.f.17.07.2006) NEW AGE BIOTECH
PRIVATE LIMITED |
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|
|
Registered
Office : |
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|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
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Date of
Incorporation : |
18.04.2002 |
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|
|
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Com. Reg. No.: |
21-094530 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 274.425
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24233WB2002PLC094530 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALN02533G |
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|
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PAN No.: [Permanent Account No.] |
AABCN7953M |
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|
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Bio-diesel and Edible oil and
also in Real Estate Business. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6886000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. There appears dip in profit of the company in 2013. However, overall
financial position of the company appears to be decent. Rating also takes
into consideration experience of promoters and regular support from group
companies. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : BBB |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
April 8, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
April 8, 2013 |
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 / Head / Corporate Office : |
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|
Tel. No.: |
91-33-66136264/ 341/ 792/ 66136391 |
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Fax No.: |
91-33-66136300 |
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E-Mail : |
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Website : |
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Factory 1 : |
J.L. No. 149, |
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Tel. No.: |
91-3224-255983 |
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Fax No.: |
91-3224-255982 |
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Factory 2 : |
Krishnapatnam, Survey No. 501-510, Near Zero Point, Krishnapatnam
Port, Pantapalem Village, Muthukur Mandal, SPSR, Nellore District - 524323,
Andhra Pradesh, India |
DIRECTORS
AS ON 29.06.2013
|
Name : |
Mr. Swapan Kumar Mondal |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Designation : |
Whole-time director |
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Address : |
3, Baishnab Ghata Patuli Lane, Garia, Kolkata-700094, West Bengal,
India |
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Date of Birth/Age : |
17.05.1950 |
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Qualification : |
BE, PGDM |
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Date of Appointment : |
01.04.2012 |
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PAN No.: |
AEOPM4603B |
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DIN No.: |
00367104 |
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Other Directorship :
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Name : |
Mr. Sushil Kumar Khetan |
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Designation : |
Director |
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|
Address : |
129 A, Block CA - I Floor, Bangur Avenue, Kolkata - 700055, West
Bengal, India |
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Date of Birth/Age : |
06.07.1965 |
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Qualification : |
CA, CS |
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Date of Appointment : |
19.12.2003 |
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PAN No.: |
AGCPK8747J |
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DIN No.: |
00358577 |
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Other Directorship :
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Name : |
Mr. Ghan Shyam Gupta |
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Designation : |
Whole-time director |
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Address : |
9A, Golf Towers, 9-PGMS Road, Kolkata-700045, West Bengal, India |
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Date of Birth/Age : |
01.10.1956 |
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Qualification : |
CA, CS |
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Date of Appointment : |
10.07.2012 |
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PAN No.: |
ADHPG2724K |
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DIN No.: |
00034927 |
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Other Directorship :
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Name : |
Mr. Pitamber Sharan Patwari |
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Designation : |
Director |
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Address : |
58B, Block-D, New Alipore, Kolkata-700053, West Bengal, India |
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Date of Birth/Age : |
16.03.1955 |
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Qualification : |
CA |
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Date of Appointment : |
10.07.2012 |
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PAN No.: |
AFPPP9517B |
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DIN No.: |
00363356 |
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Other Directorship :
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Name : |
Mr. Rajiv Kumar Tibrewal |
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Designation : |
Whole-time director |
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Address : |
19, Nandlal Mitra Lane, Salkia, Howrah-711106, West Bengal, India |
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Date of Birth/Age : |
23.07.1971 |
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Qualification : |
CA |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Date of Appointment : |
10.07.2012 |
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PAN No.: |
ABUPT4290Q |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
02436031 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Kailash Chandra Panda |
|
Designation : |
Secretary |
|
Address : |
2/4A, Arvind Nagar, Regent Park, Kolkata – 700040, West Bengal, India |
|
Date of Birth/Age : |
27.09.1976 |
|
Date of Appointment : |
03.07.2008 |
|
PAN No.: |
ANHPP1700E |
|
|
|
|
Name : |
Saroj Chakraborty |
|
Designation : |
CEO – Foods |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
M. Sc (Food Technology) |
|
Experience : |
29 Years |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.06.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 29.06.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
80.12 |
|
Other
top fifty shareholders |
19.88 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Bio-diesel and Edible oil and
also in Real Estate Business. |
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|
||||||||
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Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Central Bank of India, Corporate Finance Branch, Kolkata, 33, Netaji Subhas Road, Kolkata - 700001, West Bengal, India ICICI
Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat,
India Bank
of India, Kolkata Large Corporate Branch, 5, B.T.M Sarani, Kolkata - 700001,
West Bengal, India Canara
Bank, 25 Princep Street, Kolkata - 700072, West Bengal, India Standard
Chartered Bank, 19, N. S. Road, Kolkata - 700001, West Bengal, India |
||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S.K. Agrawal and Company Chartered Accountants |
|
Address : |
4A, Council House Street, Kolkata – 700001, West Bengal,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AATFS9977P |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
· Emami Papers Mills Limited Emami
Limited Bhanu
Vyapaar Private Limited Diwakar
Viniyog Private Limited Suntrack
Commerce Private Limited Auto
Hi-Tech Private Limited Emami
Cement Limited |
|
|
|
|
Subsidiary company
: |
· Emami Biotech (Singapore) Pte Limited New
Age Biotech Plc |
|
|
|
|
Associate : |
Oriental Sales Agencies (India) Private Limited
[U51909WB1987PTC042332] |
|
|
|
|
Joint venture : |
Sealac Agro Ventures Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,100,000 |
Equity Shares |
Rs. 10/- each |
Rs. 301.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27,442,520 |
Equity Shares |
Rs. 10/- each |
Rs. 274.425
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
274.425 |
274.425 |
|
(b) Reserves & Surplus |
|
1447.170 |
1427.166 |
|
(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) |
|
1721.595 |
1701.591 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
4867.872 |
4594.318 |
|
(b) Deferred tax liabilities (Net) |
|
38.801 |
14.572 |
|
(c) Other long
term liabilities |
|
45.528 |
41.755 |
|
(d) long-term
provisions |
|
6.109 |
0.618 |
|
Total Non-current
Liabilities (3) |
|
4958.310 |
4651.263 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
989.939 |
1787.171 |
|
(b)
Trade payables |
|
10674.745 |
4720.294 |
|
(c)
Other current liabilities |
|
1044.871 |
778.024 |
|
(d) Short-term
provisions |
|
131.997 |
74.202 |
|
Total Current
Liabilities (4) |
|
12841.552 |
7359.691 |
|
|
|
|
|
|
TOTAL |
|
19521.457 |
13712.545 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
6392.476 |
4151.211 |
|
(ii)
Intangible Assets |
|
19.229 |
20.122 |
|
(iii)
Capital work-in-progress |
|
64.924 |
1439.371 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
18.188 |
59.478 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
62.817 |
302.794 |
|
(e) Other
Non-current assets |
|
0.835 |
0.000 |
|
Total Non-Current
Assets |
|
6558.469 |
5972.976 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
400.840 |
437.755 |
|
(b)
Inventories |
|
4614.169 |
2189.043 |
|
(c)
Trade receivables |
|
629.946 |
705.366 |
|
(d) Cash
and cash equivalents |
|
5244.713 |
3125.648 |
|
(e) Short-term
loans and advances |
|
1963.693 |
1250.930 |
|
(f)
Other current assets |
|
109.627 |
30.827 |
|
Total
Current Assets |
|
12962.988 |
7739.569 |
|
|
|
|
|
|
TOTAL |
|
19521.457 |
13712.545 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
274.425 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1378.354 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1652.779 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3282.909 |
|
|
2] Unsecured Loans |
|
|
838.316 |
|
|
TOTAL BORROWING |
|
|
4121.225 |
|
|
DEFERRED TAX LIABILITIES |
|
|
14.826 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5788.830 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2539.437 |
|
|
Capital work-in-progress |
|
|
1291.430 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
83.415 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
2307.975 |
|
|
Sundry Debtors |
|
|
295.928 |
|
|
Cash & Bank Balances |
|
|
392.823 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
692.466 |
|
Total
Current Assets |
|
|
3689.192 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
172.523 |
|
|
Other Current Liabilities |
|
|
1637.015 |
|
|
Provisions |
|
|
5.174 |
|
Total
Current Liabilities |
|
|
1814.712 |
|
|
Net Current Assets |
|
|
1874.480 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.068 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5788.830 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
26701.896 |
19944.367 |
15471.201 |
|
|
|
Other Income |
726.024 |
399.149 |
119.155 |
|
|
|
TOTAL (A) |
27427.920 |
20343.516 |
15590.356 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
24560.574 |
17539.623 |
13074.202 |
|
|
|
Purchases of stock-in-trade |
703.186 |
661.942 |
1180.918 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(793.151) |
164.147 |
(138.862) |
|
|
|
Employee benefit expense |
207.006 |
133.130 |
104.122 |
|
|
|
Other expenses |
1181.593 |
971.898 |
580.269 |
|
|
|
Exceptional items |
29.090 |
13.348 |
0.000 |
|
|
|
TOTAL (B) |
25888.298 |
19484.088 |
14800.649 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1539.622 |
859.428 |
789.707 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1205.408 |
547.376 |
383.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
334.214 |
312.052 |
406.567 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
282.779 |
262.075 |
275.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
51.435 |
49.977 |
130.897 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.431 |
1.165 |
11.153 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
20.004 |
48.812 |
119.744 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods in
Indian Currency |
128.912 |
|
|
|
|
|
Export of Goods in
Foreign Currency |
450.642 |
0.000 |
|
|
|
|
Commodity Hedging Gain/
(Loss) (Net) |
306.077 |
142.364 |
|
|
|
TOTAL EARNINGS |
885.631 |
252.108 |
NA
|
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
29247.647 |
18466.982 |
13994.619 |
|
|
|
Capital Assets |
73.512 |
0.000 |
3.374 |
|
|
TOTAL IMPORTS |
29321.159 |
18466.982 |
13997.993 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.73 |
1.78 |
5.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.07
|
0.24 |
0.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.19
|
0.25 |
0.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
0.41 |
2.10 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.40
|
3.75 |
2.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.05 |
2.03 |
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 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CALCUTTA HIGH COURT
CASE STATUS INFORMATION
SYSTEM
|
Case Status
: Pending |
||||||
|
|
||||||
|
Status of
TEMP APO (APOT)
430 of
2013 |
||||||
|
|
||||||
|
STATE OF WEST BENGAL &
ORS.
Vs.
EMAMI BIOTECH LTD. & ORS. |
||||||
|
|
||||||
|
Pet's Adv.
: PARITOSH SINHA
|
||||||
|
|
||||||
|
Res's Adv.
: |
||||||
|
|
||||||
|
Court No.
: 1 Next Date of Hearing
: Wednesday, December 11, 2013 |
||||||
|
|
||||||
|
Last Listed On :
Monday, November 18, 2013 |
||||||
|
|
||||||
|
Category :
MISCELLANEOUS : REVENUE |
||||||
|
|
||||||
|
||||||
|
|
||||||
|
Case Updated
on: Wednesday, November 13, 2013 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10450206 |
19/09/2013 |
1,000,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
B85441905 |
|
2 |
10434890 |
17/06/2013 |
1,050,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, KOLKATA, 33, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST
BENGAL, INDIA |
B78761426 |
|
3 |
10292529 |
03/06/2013 * |
1,820,000,000.00 |
BANK OF INDIA |
KOLKATA LARGE
CORPORATE BRANCH, 5, B.T.M SARANI, KOLKATA - 700001, WEST BENGAL, INDIA |
B78461811 |
|
4 |
10228516 |
31/03/2011 * |
8,570,000,000.00 |
ALLAHABAD BANK |
INDUSTRIAL FINANCE
BRANCH, 17, R. N. MUKHERJEE ROAD, 4TH FLOOR, KOLKATA - 700001, WEST BENGAL,
INDIA |
B11074333 |
|
5 |
10171381 |
29/12/2011 * |
945,000,000.00 |
BANK OF BARODA |
INDIA EXCHANGE
BRANCH, 4, INDIA EXCHANGE PLACE, KOLKATA - 700001, WEST BENGAL, INDIA |
B30411201 |
|
6 |
10103576 |
12/04/2013 * |
3,768,700,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, KOLKATA, 24, PARK STREET, KOLKATA - 700016, WEST BENGAL, INDIA |
B74300252 |
|
7 |
10065513 |
13/09/2007 * |
716,975,000.00 |
UNIT TRUST OF INDIA
INVESTMENT ADVISORY SERVICES L |
UTI TOWER GN
BLOCKBANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI - 400051, MAHARASHTRA, INDIA |
A22973143 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
220.000 |
|
Other loans and advances |
1835.850 |
1015.850 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from others |
0.000 |
2.300 |
|
Other loans and advances |
10.000 |
0.000 |
|
|
|
|
|
Total |
1845.850 |
1238.150 |
OPERATIONS:
During the year, operational income increased to Rs. 26701.900 Millions from
Rs. 19944.400 Millions in the previous year, a growth of 34 percent. The growth
was partly on account of higher processing Crude Edible Oil and partly on
account of higher prices prevailed during the year, compared to immediately
preceding year. Total processing of Crude Palm Oil and Crude Soya Oil from
Haldia Plant stood at about 356000 MT during the year, compared to 300000 MT
during the previous year.
The year was the first full year of operations of Krishnapatnam (KP)
Plant after commencement of Commercial Production. During the year, at KP
Plant, total processing of Crude Palm Oil and Crude Sunflower Oil stood at
about 149000 MT, as compared to 14112 MT during the previous year. The current
processing figures in KP Plant are not comparable, as in the last year,
production commenced only on 19th February, 2012.
During the year, the Expansion Project at Haldia was completed and the
expanded plant commenced Commercial Production from 1st August, 2012. With the
completion of Expansion Plan, the Company is now also equipped to process
Sunflower Oil, with a capacity of 200 TPD at Haldia Plant.
The Company enjoys leadership position in Edible Oil segment in Haldia.
With the commencement of operation at KP, the Company has enhanced its presence
in South Indian markets. The Company is continuing its efforts towards
development of ‘Emami Healthy and Tasty’ as a Strong Brand. The Company expects
that the benefits from it will be derived in the long-run.
FINANCE:
From 1st April, 2012, Government of West Bengal has imposed Entry Tax on
goods imported into local areas within the State of West Bengal.
The Company challenged before the Calcutta High Court by Writ Petition,
the imposition of Entry Tax in West Bengal on the grounds, inter alia, that no
Entry Tax can be levied on imported goods. The matter is subjudised before the
Calcutta High Court.
The Company was having a wholly-owned Subsidiary company under the name
and style ‘New Age Biotech PLC’ in Ethiopia, for carrying out Plantation
activities in that country. However, the Company realized that the working
environment was not suitable for carrying out the plantation activities and
therefore, the Company voluntarily wound up the Ethiopian subsidiary. The funds
invested in the Share Capital of the Subsidiary company, after adjustment of
losses incurred, have been repatriated after complying with all statutory
requirements.
The Company has another wholly-owned subsidiary abroad, viz. Emami
Biotech (Singapore) Pte Limited incorporated in Singapore. A statement pursuant
to section 212 of the Companies Act, 1956 relating to subsidiary companies, is
attached to the Accounts.
The Annual Accounts including the Directors-Report and Auditors Report
of the subsidiary have been made out in accordance with the requirements of the
Companies Act, 1956.
During the year, the Company has changed the method of providing
depreciation on Bio-diesel Plant from Written Down Value method to Straight
Line method. The current year depreciation is lower by Rs. 74.846 Millions. This
is disclosed in the Notes to the Accounts.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
a) Outstanding guarantees furnished by the banks on behalf
of the Company |
286.961 |
124.950 |
|
b) Letter of Credit pending acceptance |
0.000 |
2408.792 |
|
c) Duty saved on procurement of capital goods under EPCG
scheme |
3.843 |
6.638 |
|
d) Customs duty under appeal on import of crude [Bank
Guarantee Rs. 21.880 Millions furnished as guarantee] |
21.880 |
21.880 |
|
e) Surety given in favour of CRI Limited to customs |
351.151 |
282.409 |
|
f) Unpaid Share Capital in subsidiary company |
0.000 |
23.193 |
|
g) Entry Tax |
188.202 |
0.000 |
|
h) Income Tax |
0.190 |
0.000 |
|
i) Demand for Labour Welfare Cess |
24.000 |
0.000 |
|
|
|
|
|
Total |
876.227 |
2867.862 |
FIXED ASSETS:
·
Land
Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
Other
equipments
Computer
software
Copyrights
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 62.36 |
|
|
1 |
Rs. 101.11 |
|
Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.