MIRA
INFORM REPORT
|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KARUR K.C.P PACKKAGINGS LIMITED |
|
|
|
|
Registered
Office : |
No.1, 1st Floor, Bhagath Singh Street, Behind Standard ICE
Factory, Bharathipuram-605011, Puducherry |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.01.1991 |
|
|
|
|
Com. Reg. No.: |
59-000730 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 112.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21029PY1991PLC000730 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of HDPE/PP bags and fabric. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Even though the financial position of the subject appears to be
decent, the ratings take into consideration the relatively longer operating
cycle on account of higher inventory and debtor days resulting in stretched
liquidity position. Profit margin appears to be highly volatile due to
foreign exchange fluctuations and raw materials price movement. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of experienced promoters in the packaging business, the
company can be considered for business dealings with some caution. |
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
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligation. |
|
Date |
16.04.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
16.04.2013 |
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 Office : |
No.1, 1st Floor, Bhagath Singh Street, Behind Standard ICE
Factory, Bharathipuram-605011, Puducherry, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
330/1, Cinna Andan Kovil Road,
Karur-639001, Tamilnadu, India |
|
Tel. No.: |
91-4324 240663 / 240163 |
|
Fax No.: |
Fax: 91-4324 240963 |
|
|
|
|
Factory 1 : |
R.S. 112, Thiruvandarkoil Post, Mannadipet Commune, Puducherry - 605
102, Tamilnadu, India |
|
Tel. No.: |
91-413-2640559 / 2640560 / 2640561 |
|
Fax No.: |
91-413-2641009 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
PP and FIBC Unit
S.F. 199-201, Trichy Main Road, Mayanur, Krishnarayapuram Taluk, Karur
District -639108, Tamilnadu, India |
|
Tel. No.: |
91-4323-243330 / 243303 |
|
Fax No.: |
91-4323-243382 |
|
E-Mail : |
|
|
|
|
|
Manufacturing
Unit : |
Marchinaickenpalayam,
Ambarampalayam Post, Pollachi-642103, India
|
|
Tel. No.: |
91-4259-252000 (15
Lines) |
|
Fax No.: |
91-4259-253757 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. K C Pallanishamy |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
330/1, Chinna Andan Koil Road, Karur-639001, Tamilnadu, India |
|
Date of Birth/Age : |
24.04.1935 |
|
Date of Appointment : |
18.01.1991 |
|
DIN No.: |
00059741 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L21029PY1991PLC000730
|
KARUR K.C.P
PACKKAGINGS LIMITED |
Managing
director |
01/09/2010 |
18/01/1991 |
- |
Active |
NO |
|
2 |
U21011TN2000PTC045439
|
KARUR K.C.P.
PULP AND PAPER PRIVATE LIMITED |
Managing
director |
25/07/2000 |
25/07/2000 |
- |
Active |
NO |
|
3 |
U45200TN2006PTC061549
|
SSR BUILDTECH
PRIVATE LIMITED |
Director |
20/11/2006 |
20/11/2006 |
- |
Active |
NO |
|
4 |
U45200TN2006PTC061556
|
PALLANISHAMY
BUILDERS PRIVATE LIMITED |
Director |
21/11/2006 |
21/11/2006 |
- |
Active |
NO |
|
5 |
U45200TN2006PTC061573
|
SRSR BUILDERS
PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
- |
Active |
NO |
|
6 |
U45200TN2006PTC061577
|
KSR BUILDERS
PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
- |
Active |
NO |
|
7 |
U45200TN2006PTC061612
|
ANNAM BUILDERS
PRIVATE LIMITED |
Director |
29/11/2006 |
29/11/2006 |
03/02/2007 |
Active |
YES |
|
8 |
U02411TN2007PTC063459
|
SRI RAM BIO
DIESEL PRIVATE LIMITED |
Director |
10/05/2007 |
10/05/2007 |
- |
Active |
NO |
|
9 |
U01122TN2007PTC063668
|
K.C.P. ORGANIC
MANGO PULP PRIVATE LIMITED |
Director |
25/05/2007 |
25/05/2007 |
- |
Active |
NO |
|
10 |
U70101TN2007PTC065552
|
PREMIER CHENNAI
PROPERTIES PRIVATE LIMITED |
Director |
28/11/2007 |
28/11/2007 |
13/06/2012 |
Active |
NO |
|
11 |
U70101TN2009PTC070931
|
AFFORDABLE HOMES
PRIVATE LIMITED |
Director |
19/06/2013 |
19/06/2013 |
- |
Active |
NO |
|
Name : |
Mr. Kavalipalayam Chinnappan Palanisamy Sivaraman
|
|
Designation : |
Director |
|
Address : |
330/1, Chinna Andan Koil Road, Karur-639001, Tamilnadu, India |
|
Date of Birth/Age : |
01.01.1974 |
|
Date of Appointment : |
18.01.1991 |
|
DIN No.: |
00055049 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L21029PY1991PLC000730
|
KARUR K.C.P PACKKAGINGS
LIMITED |
Whole-time
director |
01/09/2010 |
18/01/1991 |
- |
Active |
NO |
|
2 |
U21011TN2000PTC045439
|
KARUR K.C.P.
PULP AND PAPER PRIVATE LIMITED |
Director |
25/07/2000 |
25/07/2000 |
- |
Active |
NO |
|
3 |
U45200TN2006PTC061549
|
SSR BUILDTECH
PRIVATE LIMITED |
Director |
20/11/2006 |
20/11/2006 |
- |
Active |
NO |
|
4 |
U45200TN2006PTC061556
|
PALLANISHAMY
BUILDERS PRIVATE LIMITED |
Director |
21/11/2006 |
21/11/2006 |
- |
Active |
NO |
|
5 |
U45200TN2006PTC061573
|
SRSR BUILDERS
PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
- |
Active |
NO |
|
6 |
U45200TN2006PTC061577
|
KSR BUILDERS
PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
- |
Active |
NO |
|
7 |
U45200TN2006PTC061612
|
ANNAM BUILDERS
PRIVATE LIMITED |
Director |
29/11/2006 |
29/11/2006 |
03/02/2007 |
Active |
YES |
|
8 |
U02411TN2007PTC063459
|
SRI RAM BIO
DIESEL PRIVATE LIMITED |
Director |
10/05/2007 |
10/05/2007 |
- |
Active |
NO |
|
9 |
U01122TN2007PTC063668
|
K.C.P. ORGANIC
MANGO PULP PRIVATE LIMITED |
Director |
25/05/2007 |
25/05/2007 |
- |
Active |
NO |
|
10 |
U70101TN2007PTC065552
|
PREMIER CHENNAI
PROPERTIES PRIVATE LIMITED |
Director |
28/11/2007 |
28/11/2007 |
13/06/2012 |
Active |
NO |
|
11 |
U70101TN2009PTC070931
|
AFFORDABLE HOMES
PRIVATE LIMITED |
Director |
09/03/2009 |
09/03/2009 |
- |
Active |
NO |
|
12 |
U70101TN2009PTC070930
|
AFFORDABLE
HOUSING PRIVATE LIMITED |
Director |
09/03/2009 |
09/03/2009 |
- |
Active |
NO |
|
Name : |
Mr. Pallani Shamy Annammal
|
|
Designation : |
Director |
|
Address : |
330/1, Chinna Andan Koil Road, Karur-639001, Tamilnadu, India |
|
Date of Birth/Age : |
29.12.1941 |
|
Date of Appointment : |
18.01.1991 |
|
DIN No.: |
00060871 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
L21029PY1991PLC000730
|
KARUR K.C.P
PACKKAGINGS LIMITED |
Director |
18/01/1991 |
18/01/1991 |
- |
Active |
NO |
|
2 |
U21011TN2000PTC045439
|
KARUR K.C.P. PULP
AND PAPER PRIVATE LIMITED |
Director |
25/07/2000 |
25/07/2000 |
- |
Active |
NO |
|
3 |
U45200TN2006PTC061549
|
SSR BUILDTECH
PRIVATE LIMITED |
Director |
20/11/2006 |
20/11/2006 |
- |
Active |
NO |
|
4 |
U45200TN2006PTC061556
|
PALLANISHAMY
BUILDERS PRIVATE LIMITED |
Director |
21/11/2006 |
21/11/2006 |
- |
Active |
NO |
|
5 |
U45200TN2006PTC061573
|
SRSR BUILDERS
PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
- |
Active |
NO |
|
6 |
U45200TN2006PTC061577
|
KSR BUILDERS
PRIVATE LIMITED |
Director |
23/11/2006 |
23/11/2006 |
- |
Active |
NO |
|
7 |
U45200TN2006PTC061612
|
ANNAM BUILDERS
PRIVATE LIMITED |
Director |
29/11/2006 |
29/11/2006 |
03/02/2007 |
Active |
YES |
|
Name : |
Mr. Karuppannan Palaniappan
|
|
Designation : |
Director |
|
Address : |
16, Old Kalipalayam, 2nd Street, Puliyur, Karur-639114,
Tamilnadu, India |
|
Date of Birth/Age : |
13.04.1932 |
|
Date of Appointment : |
22.09.2003 |
|
DIN No.: |
00300247 |
|
|
|
|
Name : |
Dr. Karuppannan Mohan
|
|
Designation : |
Director |
|
Address : |
71, Pandari Nathan Street, Karur-639001, Tamilnadu, India |
|
Date of Birth/Age : |
10.06.1949 |
|
Date of Appointment : |
22.09.2003 |
|
DIN No.: |
00527644 |
|
|
|
|
Name : |
Mr. Srinivasan Muralikrishnan
|
|
Designation : |
Director |
|
Address : |
330/1, Chinna Andan Koil Road, Karur-639001, Tamilnadu, India |
|
Date of Birth/Age : |
24.11.1975 |
|
Date of Appointment : |
22.09.2003 |
|
DIN No.: |
00527793 |
KEY EXECUTIVES
|
Name : |
Mr. V Venkatesan |
|
Designation : |
Secretary |
|
Address : |
103-C/45, shreelaxmi Nivas, Tamil Sangam Road, Salem-636007,
Tamilnadu, India |
|
Date of Birth/Age : |
19.05.1966 |
|
Date of Appointment : |
19.01.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2013
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
7245700 |
72.46 |
|
|
7245700 |
72.46 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
7245700 |
72.46 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1220101 |
12.20 |
|
|
|
|
|
|
924061 |
9.24 |
|
|
391338 |
3.91 |
|
|
218800 |
2.19 |
|
|
17516 |
0.18 |
|
|
23073 |
0.23 |
|
|
178211 |
1.78 |
|
|
2754300 |
27.54 |
|
Total Public shareholding (B) |
2754300 |
27.54 |
|
Total (A)+(B) |
10000000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
1250000 |
0.00 |
|
|
1250000 |
0.00 |
|
Total (A)+(B)+(C) |
11250000 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 MillionBUSINESS DETAILS
|
Line of Business : |
Manufacturer of HDPE/PP bags and fabric. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2012)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
ESK Paper |
MT |
54000 |
29228 |
|
Paper Bag |
Nos. |
120000000 |
95260000 |
|
Polypropylene Bag |
MT |
18000 |
9406 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Union Bank of India, Coimbatore Main Branch, 235,
Opposite Anakara Street, Coimbatore-641001, Tamilnadu, India ·
Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan,
227 D, Nariman Point, Mumbai-400021, Maharashtra, India ·
HDFC Bank Limited, HDFC Bank House, Sennapati
Bapat Marg, Lower Parel (West), Mumbai-400013, Maharashtra, India ·
ICICI Bank Limited ·
The Shamrao Vithal Co-Operative Bank Limited ·
State Bank of India ·
The Karnataka Bank Limited ·
The Karur Vysya Bank Limited ·
Central Bank of India ·
Andhra Bank |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Miss Sriram and Company Chartered Accountant |
|
Address : |
32, South Lakshmipuram, Karur-639001, |
|
Tel. No.: |
91-4324-262587/329222 |
|
PAN No.: |
AADFM3566C |
|
|
|
|
Associates Companies
/ Firms / Proprietor Concern : |
·
Annam Lorry Forwarding Agencies ·
Arasi Hi-Tech Bio-Power Private Limited ·
K. C. P. Paper Sacks ·
K. C. Palanisamy and Company ·
SSR Buildtech Private Limited ·
SRSR Builders Private Limited ·
KSR Builders Private Limited ·
Sriram Bio-Diesel Private Limited ·
KCP Organic Mango Pulp Private Limited ·
KCP Pulp and Paper Private Limited ·
Pallani Shamy Properties Private Limited ·
Palani Shamy Builders Private Limited ·
Affordable Housing Private Limited ·
Affordable Homes Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11250000 |
Equity Shares |
Rs.10/- each |
Rs. 112.500
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
112.500 |
112.500 |
|
(b) Reserves & Surplus |
|
1467.371 |
1394.390 |
|
(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) |
|
1579.871 |
1506.890 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1232.813 |
1033.218 |
|
(b) Deferred tax liabilities (Net) |
|
237.746 |
230.098 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.192 |
0.000 |
|
Total Non-current Liabilities (3) |
|
1475.751 |
1263.316 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
1619.998 |
1325.478 |
|
(b) Trade payables |
|
20.622 |
75.330 |
|
(c) Other current
liabilities |
|
242.901 |
384.205 |
|
(d) Short-term provisions |
|
48.330 |
44.518 |
|
Total Current Liabilities (4) |
|
1931.851 |
1829.531 |
|
|
|
|
|
|
TOTAL |
|
4987.473 |
4599.737 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1634.926 |
1784.310 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
623.692 |
126.590 |
|
(b) Non-current Investments |
|
0.500 |
0.505 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
21.283 |
20.089 |
|
(e) Other Non-current assets |
|
9.551 |
8.783 |
|
Total Non-Current Assets |
|
2289.952 |
1940.277 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
1390.112 |
1279.858 |
|
(c) Trade receivables |
|
768.874 |
832.716 |
|
(d) Cash and cash
equivalents |
|
237.765 |
312.931 |
|
(e) Short-term loans and
advances |
|
263.121 |
213.553 |
|
(f) Other current assets |
|
37.649 |
20.402 |
|
Total Current Assets |
|
2697.521 |
2659.460 |
|
|
|
|
|
|
TOTAL |
|
4987.473 |
4599.737 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
100.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
832.425 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
932.425 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1112.389 |
|
|
2] Unsecured Loans |
|
|
829.052 |
|
|
TOTAL BORROWING |
|
|
1941.441 |
|
|
DEFERRED TAX LIABILITIES |
|
|
200.163 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3074.029 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1266.046 |
|
|
Capital work-in-progress |
|
|
277.052 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.505 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1124.805
|
|
|
Sundry Debtors |
|
|
666.218
|
|
|
Cash & Bank Balances |
|
|
174.829
|
|
|
Other Current Assets |
|
|
13.107
|
|
|
Loans & Advances |
|
|
115.153
|
|
|
Deposits |
|
|
32.135
|
|
Total
Current Assets |
|
|
2126.247 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
533.310
|
|
|
Provisions |
|
|
71.631
|
|
Total
Current Liabilities |
|
|
604.941 |
|
|
Net Current Assets |
|
|
1521.306
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
9.120 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3074.029 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4159.787 |
3707.482 |
3161.356 |
|
|
|
Other Income |
42.739 |
54.673 |
189.955 |
|
|
|
TOTAL (A) |
4202.526 |
3762.155 |
3351.311 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
2844.134 |
|
2843.643 |
|
|
|
Employee benefits expenses |
230.524 |
209.821 |
|
|
|
|
Other Expenses |
553.035 |
557.061 |
|
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
90.539 |
(130.857) |
|
|
|
|
Exceptional Items |
(84.835) |
2.462 |
|
|
|
|
TOTAL (B) |
3633.397 |
3284.821 |
2843.643 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
569.129 |
477.334 |
507.668 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
347.040 |
242.463 |
265.927 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
222.089 |
234.871 |
241.741 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.445 |
107.677 |
96.374 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
113.644 |
127.194 |
145.367 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.589 |
50.542 |
63.388 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
86.055 |
76.652 |
81.979 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
543.723 |
495.389 |
476.624 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
30.000 |
30.000 |
51.553 |
|
|
|
Dividend |
11.250 |
0.000 |
10.000 |
|
|
|
Tax on Dividend |
1.825 |
0.000 |
1.661 |
|
|
|
Transfer from Subsidiary Reserve |
0.000 |
(1.682) |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
586.703 |
543.723 |
495.389 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
804.800 |
618.700 |
439.955 |
|
|
TOTAL EARNINGS |
804.800 |
618.700 |
439.955 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
823.400 |
759.900 |
494.387 |
|
|
|
Chemicals |
23.100 |
6.400 |
13.076 |
|
|
|
Capital Goods |
16.100 |
0.000 |
10.198 |
|
|
|
Components and Spares |
21.400 |
4.900 |
1.071 |
|
|
TOTAL IMPORTS |
884.000 |
771.200 |
518.732 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.65 |
7.63 |
8.20 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.09.2012 |
31.12.2012 |
31.03.2013 |
30.06.2013 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
1095.600 |
1280.000 |
899.300 |
1223.100 |
|
Total Expenditure |
984.200 |
1127.500 |
693.600 |
1044.700 |
|
PBIDT (Excl OI) |
111.400 |
152.500 |
205.700 |
178.400 |
|
Other Income |
(4.800) |
4.80 |
0.000 |
0.000 |
|
Operating Profit |
106.600 |
157.300 |
205.700 |
178.400 |
|
Interest |
66.100 |
97.200 |
140.600 |
100.200 |
|
Exceptional Items |
0.000 |
0.000 |
(0.500) |
(4.300) |
|
PBDT |
40.500 |
60.100 |
64.600 |
73.900 |
|
Depreciation |
29.300 |
38.800 |
55.000 |
49.300 |
|
Profit Before Tax |
11.200 |
21.300 |
9.600 |
24.600 |
|
Tax |
(2.600) |
4.200 |
2.200 |
5.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
13.800 |
17.100 |
7.400 |
19.600 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
13.800 |
17.100 |
7.400 |
19.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.05
|
2.04 |
2.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.73
|
3.43 |
4.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.60
|
2.84 |
4.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.81
|
1.57 |
2.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.45 |
3.51 |
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) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Bonds |
508.700 |
446.500 |
|
Loans and advances from Related Parties |
91.012 |
91.012 |
|
Loans Taken For Vehicles |
16.128 |
28.325 |
|
Other Loans and Advances |
0.000 |
33.494 |
|
Short Term
Borrowings |
|
|
|
Loans Repayable on Demand from Banks |
0.000 |
27.273 |
|
Intercorporate Deposits |
37.000 |
79.000 |
|
Deposits form Others |
0.000 |
27.796 |
|
|
|
|
|
TOTAL |
652.840 |
733.400 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10395543 |
24/12/2012 |
4,300,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B65336315 |
|
2 |
10383291 |
05/06/2013 * |
250,000,000.00 |
UNION BANK OF INDIA |
COIMBATORE MAIN BRANCH, 235, OPPANAKARA
STREET, COIMBATORE, TAMIL NADU - 641001, INDIA |
B79201430 |
|
3 |
10361040 |
12/06/2012 |
1,214,560.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL
W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B41796673 |
|
4 |
10361273 |
12/05/2012 |
200,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK
LIMITED |
CUFFE PARADE BRANCH,MAKERS TOWER E, CUFFE
PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B41889585 |
|
5 |
10359446 |
10/05/2012 |
1,790,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B41134164 |
|
6 |
10353775 |
19/04/2012 |
7,950,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B38953261 |
|
7 |
10348884 |
26/03/2012 |
1,950,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL
W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B37329398 |
|
8 |
10344744 |
14/03/2012 |
15,210,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B35951482 |
|
9 |
10330995 |
29/12/2011 |
200,000,000.00 |
THE SHAMRAO VITHAL CO-OPERATIVE BANK
LIMITED |
CUFFE PARADE BRANCH, MAKERS TOWER E CUFFE
PARADE, |
B30314306 |
|
10 |
10308767 |
02/08/2011 |
72,500,000.00 |
KARUR VYSYA BANK LIMITED |
CENTRAL BRANCH, JAWAHAR BAZAAR, KARUR,
TAMIL NADU- 639001, INDIA |
B21899539 |
|
11 |
10299523 |
02/12/2011 * |
70,000,000.00 |
IDBI BANK LIMITED |
LIC BUILDING FIRST FLOOR, NO.3, WEST
MARRET STREET, MADURAI, TAMILNADU - 625001, INDIA |
B26728246 |
|
12 |
10246704 |
25/01/2011 * |
79,875,000.00 |
THE KARUR VYSYA BANK LIMITED |
POST BOX NO.21,, ERODE ROAD, KARUR,
TAMILNADU - 639002, INDIA |
B08141061 |
|
13 |
10181035 |
05/10/2009 |
3,065,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A71775969 |
|
14 |
10179277 |
24/09/2009 |
15,450,890.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A70902937 |
|
15 |
10171764 |
24/07/2009 |
1,480,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A68026129 |
|
16 |
10139586 |
03/01/2009 |
1,897,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A55536106 |
|
17 |
10084226 |
31/12/2007 |
60,000,000.00 |
INDUSIND BANK LIMITED |
2401 GEN THIMMAYYAROAD CANTONMENT, PUNE,
MAHARASHTRA - 411001, INDIA |
A30947683 |
|
18 |
90005901 |
21/04/2005 |
65,000,000.00 |
CANARA BANK |
CORPORATE SRVICE BRANCH, SPENCER TOWER,
CHENNAI, |
- |
|
19 |
90259101 |
21/04/2005 |
65,000,000.00 |
CANARA BANK |
CORPORATE SERVICE BRANCH, SPENCER TOWER,
CHENNAI, |
- |
|
20 |
90005858 |
07/09/2004 |
500,000.00 |
CENTURION BANK LIMITED |
AVANASHI ROAD, COIMBATORE, TAMILNADU -
641018, INDIA |
- |
|
21 |
90259013 |
07/09/2004 |
500,000.00 |
CENTURION BANK LIMITED |
AVANASHI ROAD, COIMBATORE, TAMILNADU -
641018, INDIA |
- |
|
22 |
90005774 |
03/02/2003 * |
120,000,000.00 |
CENTRAL BANK OF INDIA |
KARUR BRANCH, I FLOOR;45/E/1;2 SENGUNTHAPURAM
MAIN ROAD, KARUR, TAMILNADU - 639002, INDIA |
- |
|
23 |
90258847 |
03/02/2003 * |
120,000,000.00 |
CENTRAL BANK OF INDIA |
KARUR BRANCH, SENGUNTHAPURAM MAIN ROAD,
KARUR, TAMILNADU - 639002, INDIA |
- |
|
24 |
90005751 |
29/04/2013 * |
2,659,000,000.00 |
STATE BANK OF INDIA (LEAD BANK) AND OTHER
7 BANKS |
COMMERCIAL BRANCH, 1443, TRICHY ROAD,
COIMBATORE, |
B76237205 |
|
25 |
90259987 |
08/10/2005 * |
1,082,100,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, COIMBATORE, TAMIL NADU,
INDIA |
- |
|
26 |
90258705 |
05/11/2012 * |
597,500,000.00 |
KARUR VYSYA BANK LIMITED |
CENTRAL BRANCH, JAWAHAR BAZAAR, KARUR,
TAMILNADU |
B63887483 |
|
* Date of charge modification |
||||||
NOTE
Registered office has been shifted from No.10, 2nd Cross Anna
Nagar, Puducherry-605005, India to the present address w.e.f. 21.08.2012.
PERFORMANCE
The Turnover during
the year was Rs.4409.100 Millions as against Rs. 3929.400 Millions for the
previous year, a growth of 12.21% over the previous year. Increase in revenue
was due to rise in volumes and prices as well. During the year, exports were
higher by 29.34 % at Rs. 824.000 Millions
Profit before tax was Rs.113.600 Millions as against Rs. 127.200
Millions for the previous year, a decrease of 10.69%.
The Company had
raised funds through GDR issue during March 2011 in order to part finance the
expansion plans and the size of the issue was 2.5 Million GDR @4.50 USD per GDR
which was fully subscribed. The fresh infusion of funds by way of equity would
lower the Debt-Equity ratio and interest cost.
FCC Bonds which
are maturing on 27th April 2011 have been extended by another 5
years to 26th April 2016. Besides, Bonds carrying 7% YTM got reduced
to 5%YTM. The Company is confident of generating sufficient cash flows at
maturity if the bond holders opt for redemption on due date
The Company has
already started constructing its 10 MW captive power plant project at Pollachi,
Tamilnadu, India on EPC basis through M/s Cethar Vessels Limited, Trichy,
Tamilnadu, India. The power plant project is under construction and progressing
well as per the plan. The project is expected to complete by September 2012.
The Company’s power and fuel cost will get reduced substantially once the
project becomes operational
The Company
installed 1.65 MW windmill of Vestas make at Thungavi Village, Madathukulam
Taluk, Tirupur District, Tamilnadu, India during the month of October 2010.
With this addition, the Company is having 3.30 MW Windmills capacity and its
generation is being adjusted in its FIBC and PP Division.
Capital
Expenditure during the year 2011-12 was Rs.623.700 Millions primarily on
account of installation of 10MW power plant and 60 TPD ESKP facility at
Pollachi for the assets transferred from Pondicherry
OUTLOOK
The Company has a
wide range of products, i.e., ESK Paper, Paper bags, PP bags and FIBC bags.
This has given more flexibility to the Company for its growth. Moreover, the
additional capacity of ESK Paper due to installing its second paper machine
will help the Company for better turnover.
The power
situation in Tamil Nadu is very precarious. However, your Company has ventured
into power sector at right time. The 10 MW Co-generation power plant will help
Company for uninterrupted operation and also generate power at lower cost as
against grid power.
WHOLLY OWNED SUBSIDIARY COMPANY
Mainly for the purpose
of Business promotion, a wholly Owned Subsidiary Company in the name SHRIUDHA
VENTURES PTE.LIMTIED, has been incorporated on 19.04.2012 in Republic of
Singapore.
FIXED ASSETS
·
Land
·
Factory Building
·
Building - Quarters
·
Plant and Machinery
·
Electrical Fittings
·
Furniture and Fittings
·
Office Equipments
·
Computers
·
Cycles
·
Vehicles
·
Windmill
·
Lorry
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH
JUNE, 2013
(Rs. in millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year Ended |
||
|
|
|
30.06.2013 |
31.03.2013 |
30.06.2012 |
31.03.2013 |
|
|
|
Unaudited |
Audited |
Unaudited |
Audited |
|
1. |
Income from
Operations |
|
|
|
|
|
|
Net Sales |
1217.300 |
877.700 |
1145.200 |
4398.600 |
|
|
Other Operating Income |
5.800 |
21.600 |
8.500 |
30.000 |
|
|
Net Sales/Income
from Operations |
1223.100 |
899.300 |
1153.700 |
4428.600 |
|
|
|
|
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
|
Cost of Material Consumed
|
882.800 |
761.000 |
893.600 |
3176.800 |
|
|
Change in Inventories of Finished Goods, Work-In-Progress
and Stock In Trade |
13.800 |
(122.600) |
(7.900) |
(169.500) |
|
|
Employee Benefits Expenses |
50.100 |
48.500 |
48.600 |
225.300 |
|
|
Depreciation and Amortization Expenses |
49.300 |
55.000 |
27.200 |
150.300 |
|
|
Other Expenses |
98.000 |
6.800 |
79.000 |
585.900 |
|
|
f) Total |
1094.000 |
748.700 |
1040.400 |
3968.800 |
|
|
|
|
|
|
|
|
3. |
Profit
From Operations before Other Income, Interest and Exceptional Items (1-2) |
129.100 |
150.700 |
113.300 |
459.900 |
|
|
|
|
|
|
|
|
4. |
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
5. |
Profit
Before Interest and Exceptional Items (3+4) |
129.100 |
150.700 |
113.300 |
459.900 |
|
|
|
|
|
|
|
|
6. |
Interest |
100.200 |
140.600 |
74.300 |
378.300 |
|
|
|
|
|
|
|
|
7. |
Profit
After Interest but before Exceptional Items (5-6) |
28.900 |
10.100 |
38.900 |
81.600 |
|
|
|
|
|
|
|
|
8. |
Exceptional Items |
(4.300) |
(0.500) |
0.000 |
(0.500) |
|
|
|
|
|
|
|
|
9. |
Profit
from Ordinary Activities before Tax (7+8) |
24.600 |
9.600 |
38.900 |
81.100 |
|
|
|
|
|
|
|
|
10. |
Tax Expense |
5.000 |
2.200 |
12.600 |
16.500 |
|
|
|
|
|
|
|
|
11. |
Net
Profit from Ordinary Activities after Tax (9-10) |
19.600 |
7.400 |
26.300 |
64.600 |
|
|
|
|
|
|
|
|
12. |
Extraordinary Item (net of expense) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
13. |
Net
Profit for the period (11-12) |
19.600 |
7.400 |
26.300 |
64.600 |
|
|
|
|
|
|
|
|
14. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
112.500 |
112.500 |
112.500 |
112.500 |
|
|
|
|
|
|
|
|
15. |
Reserves Excluding Revaluation Reserve |
-- |
1499.900 |
-- |
1499.900 |
|
|
|
|
|
|
|
|
16. |
Basic
and Diluted Earning Per Share (EPS) (Rs.)-Not Annualised |
|
|
|
|
|
|
a) Basic and diluted EPS before extraordinary items |
1.74 |
0.66 |
2.34 |
5.74 |
|
|
b) Basic and diluted EPS after extraordinary items |
1.56 |
0.58 |
2.09 |
5.15 |
|
|
|
|
|
|
|
|
17. |
Public
Shareholding |
|
|
|
|
|
|
-Number of Shares |
4004300 |
4004300 |
4004300 |
4004300 |
|
|
- Percentage of Shareholding |
36% |
36% |
36% |
36% |
|
|
|
|
|
|
|
|
18. |
Promoters
and Promoter Group Shareholding |
|
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
|
- Number of Shares |
2373400 |
2373400 |
5744400 |
2373400 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
33% |
33% |
79% |
33% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
21% |
21% |
51% |
21% |
|
|
|
|
|
|
|
|
|
b) Non
Encumbered |
|
|
|
|
|
|
- Number of Shares |
4872300 |
4872300 |
1501300 |
4872300 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
67% |
67% |
21% |
67% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
43% |
43% |
13% |
43% |
|
Particulars
|
3
Months ended 30th June, 2013 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed of during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
Sl. No. |
|
Particulars |
Quarter Ended |
Year Ended |
||
|
|
30.06.2013 |
31.03.2013 |
30.06.2012 |
31.03.2013 |
||
|
|
Unaudited |
Audited |
Unaudited |
Audited |
||
|
1 |
|
Segment Revenue |
|
|
|
|
|
|
|
Paper Division |
541.600 |
405.500 |
487.300 |
1825.700 |
|
|
|
Paper Bags Division |
359.400 |
266.700 |
353.200 |
1371.900 |
|
|
|
Polypropylene Division |
316.300 |
205.500 |
304.700 |
1201.000 |
|
|
|
|
|
|
|
|
|
|
|
Total |
1217.300 |
877.700 |
1145.200 |
4398.600 |
|
|
|
|
|
|
|
|
|
|
|
Less : Inter Segment Revenue |
393.800 |
326.900 |
306.800 |
1384.200 |
|
|
|
|
|
|
|
|
|
|
|
Net Sales / Income
from Operation |
823.500 |
550.800 |
838.400 |
3014.400 |
|
|
|
|
|
|
|
|
|
2 |
|
Segment Results |
|
|
|
|
|
|
|
Paper Division |
76.200 |
121.500 |
63.600 |
266.500 |
|
|
|
Paper Bags Division |
14.800 |
(37.500) |
12.900 |
48.300 |
|
|
|
Polypropylene Division |
33.700 |
66.200 |
36.800 |
144.600 |
|
|
|
|
|
|
|
|
|
|
|
Total |
124.800 |
150.200 |
113.300 |
459.400 |
|
|
|
|
|
|
|
|
|
|
|
Less :Interest |
100.200 |
140.600 |
74.300 |
378.300 |
|
|
|
|
|
|
|
|
|
|
|
Total Profit Before
Tax |
24.600 |
9.600 |
39.000 |
81.100 |
|
|
|
|
|
|
|
|
|
3 |
|
Capital Employed
(Segment Assets – Segment Liabilities) |
|
|
|
|
|
|
|
Paper Division |
1214.600 |
1197.700 |
1155.600 |
1197.700 |
|
|
|
Paper Bags Division |
429.000 |
429.600 |
344.300 |
429.600 |
|
|
|
Polypropylene Division |
252.800 |
249.500 |
350.200 |
249.500 |
|
|
|
|
|
|
|
|
|
|
|
Total Capital
Employed in the Company |
1896.400 |
1876.800 |
1850.100 |
1876.800 |
NOTES
1. The company has chosen the option of publishing standalone results on a
Quarterly basis
2. The above mentioned financial results have been reviewed by the Audit committee
and were taken on record by the board of directors of the company at its
meeting held on 14th August, 2013.
3. Previous figures have been regrouped / recast, wherever necessary.
4. The above results are subject to limited review by the statutory auditors
of the company.
5. The company operates in 3 business segments i.e. Paper, Paper Bag,
Polypropylene Division.
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. 61.40 |
|
UK Pound |
1 |
Rs. 99.28 |
|
Euro |
1 |
Rs. 83.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.