MIRA
INFORM REPORT
|
Report Date : |
30.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
INFRA INDUSTRIES LIMITED |
|
|
|
|
Formerly Known
As : |
INFRA PLASTIC INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Dhiraj Chambers, 7th Floor, 9, Hazarimal Somani Marg,
Mumbai-400 001, |
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Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
05.12.1989 |
|
|
|
|
Com. Reg. No.: |
11-054503 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.59.875
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25200MH1989PLC054503 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturer of Water Storage Tanks, Chemical Storage Tanks,
Industrial Containers etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 110000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There appears accumulated loss from its operation during 2013.
External Borrowings seems to be increasing over previous year. However, trade relations are improving. Business is active. Payment
terms are reported to be slow. 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.
INDIAN ECONOMIC OVERVIEW
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on social
media this year, according to a global study by information technology major
Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
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.
INFORMATION DENIED
Management Non Cooperative. (91-22-32946372)
LOCATIONS
|
Registered Office : |
Dhiraj Chambers, 7th Floor, 9, Hazarimal Somani Marg,
Mumbai-400 001, |
|
Tel. No.: |
91-22-32946372/66348604 |
|
Fax No.: |
91-22-22078013/66348601 |
|
E-Mail : |
|
|
Website : |
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|
|
|
Factory: |
Located At: ·
Pukkathurai, Tamilnadu ·
Hubli, Karnataka ·
Arav, |
|
|
|
|
Sales Office : |
Renigunta, Chennai, |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Bhupendra Jatashankar Ambani |
|
Designation : |
Director |
|
Address : |
602, |
|
Date of Birth/Age : |
25.03.1938 |
|
Date of Appointment : |
22.10.2009 |
|
|
|
|
Name : |
Mr. Mukesh Bhupendra Ambani |
|
Designation : |
Managing Director |
|
Address : |
602, |
|
Date of Birth/Age : |
27.06.1963 |
|
Date of Appointment : |
05.12.1989 |
|
|
|
|
Name : |
Mr. Haresh Purshotamdas Sanghvi |
|
Designation : |
Director |
|
Address : |
A-6, Mazdock Apartments, 74, G. J. P. Road, 7 Bunglow, Andheri (West),
Mumbai-400 061, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1953 |
|
Date of Appointment : |
27.12.2005 |
|
|
|
|
Name : |
Mr. Rajnikant Narottamdas Shah |
|
Designation : |
Director |
|
Address : |
D-302, |
|
Date of Birth/Age : |
17.05.1954 |
|
Date of Appointment : |
08.10.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1490822 |
24.92 |
|
|
1480600 |
24.75 |
|
|
2971422 |
49.66 |
|
|
|
|
|
|
1200000 |
20.06 |
|
|
1200000 |
20.06 |
|
Total shareholding of Promoter and Promoter Group (A) |
4171422 |
69.72 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
74500 |
1.25 |
|
|
74500 |
1.25 |
|
|
|
|
|
|
180571 |
3.02 |
|
|
|
|
|
|
555584 |
9.29 |
|
|
961212 |
16.07 |
|
|
39811 |
0.67 |
|
|
4150 |
0.07 |
|
|
35661 |
0.60 |
|
|
1737178 |
29.03 |
|
Total Public shareholding (B) |
1811678 |
30.28 |
|
Total (A)+(B) |
5983100 |
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) |
5983100 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
|
1 |
Bhupendra J Ambani |
50,082 |
0.84 |
|
2 |
Mukesh B Ambani |
13,23,990 |
22.13 |
|
3 |
Pratik M Ambani |
33,950 |
0.57 |
|
4 |
Pratik M Ambani |
100 |
0.00 |
|
5 |
Varun M Ambani |
32,500 |
0.54 |
|
6 |
Varun M Ambani |
100 |
0.00 |
|
7 |
Ambani Sales Organisation |
50,100 |
0.84 |
|
8 |
Infra Lease Finance Private Limited |
7,75,000 |
12.95 |
|
9 |
Infra Lease Finance Private Limited |
7,05,600 |
11.79 |
|
10 |
Springfield Investment Limited |
7,30,000 |
12.20 |
|
11 |
Springfield Investment Limited |
4,70,000 |
7.86 |
|
|
Total |
41,71,422 |
69.72 |
(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full conversion of
warrants and convertible securities) as a % of diluted share capital |
|
|
|
|
|
|
|
1 |
Chandresh B Ambani |
721884 |
12.07 |
12.07 |
|
2 |
Suvarna Chandresh Ambani |
92000 |
1.54 |
1.54 |
|
3 |
LKP Shares and Securities Limited |
74500 |
1.25 |
1.25 |
|
4 |
Union Bank of India |
74500 |
1.25 |
1.25 |
|
5 |
Prisam Trading and Finance Private Limited |
74500 |
1.25 |
1.25 |
|
|
Total |
1037384 |
17.34 |
17.34 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the
category “Public” and holding more than 5% of the total number of shares of the
company
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
|
|
|
|
1 |
Chandresh B Ambani |
721884 |
12.07 |
|
|
Total |
721884 |
12.07 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Water Storage Tanks, Chemical Storage Tanks,
Industrial Containers etc. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
Indian Overseas Bank, Santacruz (West) Branch, 'Harikripa'
26-A, |
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani Chambers, 212, Nariman Point, Mumbai-400 021, |
|
|
|
|
Associates : |
Infra Fenestation Private Limited |
|
|
|
|
Enterprises over
which Key Managerial Personnel are able to exercise significant : |
Ambani Sales Organisation |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,000,000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
300,000 |
Cumulative Redeemable Preference Share |
Rs.100/- each |
Rs.30.000 Millions |
|
|
Total |
|
Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,983,100 |
Equity Shares |
Rs.10/- each |
Rs.59.831
Millions |
|
|
Forfeited Shares |
|
Rs.0.044
Million |
|
|
Total |
|
Rs.59.875 Millions |
The details of shareholders
holding more than 5% shares;
|
Name of the
Shareholder |
As at 31st March, 2013 |
|
|
|
No. of Shares |
% held |
|
Mukesh B. Ambani |
1,323,990 |
22.13 |
|
Infra Leasefinance Private Limited |
1,480,600 |
24.75 |
|
Springefield Investment Limited |
1,200,000 |
20.06 |
|
Chandresh B. Ambani |
721,884 |
12.07 |
The reconciliation of
number of shares outstanding is set out below;
|
Particulars |
As at 31st March, 2013 |
|
|
No. of Shares |
|
Equity Shares at the beginning |
5,983,100 |
|
Add : Shares issued during the year |
- |
|
Equity Shares at the end of the year |
5,983,100 |
Rights of Equity Share Holders:
The company has only one class of equity shares having face value of Rs 10 per share. Each holder of equity shares is entitled to one vote per share. Equity shareholders are also entitled to dividend as and when proposed by the Board of Directors and approved by share holders in Annual General Meeting. In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts which shall be in proportion to the number of shares held by the shareholders.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
59.875 |
59.875 |
59.875 |
|
(b) Reserves & Surplus |
(31.040) |
(30.201) |
(21.485) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
28.835 |
29.674 |
38.390 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
11.856 |
2.964 |
5.086 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.653 |
1.105 |
0.978 |
|
Total Non-current Liabilities (3) |
13.509 |
4.069 |
6.064 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
20.508 |
20.238 |
13.589 |
|
(b) Trade payables |
15.466 |
15.884 |
10.581 |
|
(c) Other current
liabilities |
25.304 |
22.562 |
21.166 |
|
(d) Short-term provisions |
0.522 |
0.388 |
0.026 |
|
Total Current Liabilities (4) |
61.800 |
59.072 |
45.362 |
|
|
|
|
|
|
TOTAL |
104.144 |
92.815 |
89.816 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
50.988 |
49.323 |
47.200 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
14.581 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.098 |
0.098 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.772 |
17.808 |
18.750 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
81.439 |
67.229 |
65.950 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
6.048 |
9.133 |
9.198 |
|
(c) Trade receivables |
13.970 |
12.402 |
11.084 |
|
(d) Cash and cash
equivalents |
1.069 |
2.746 |
1.869 |
|
(e) Short-term loans and
advances |
1.618 |
1.305 |
1.715 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
22.705 |
25.586 |
23.866 |
|
|
|
|
|
|
TOTAL |
104.144 |
92.815 |
89.816 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
99.533 |
91.962 |
94.157 |
|
|
|
Other Income |
4.966 |
3.774 |
1.122 |
|
|
|
TOTAL (A) |
104.499 |
95.736 |
95.279 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
51.887 |
53.662 |
54.180 |
|
|
|
Purchase of Stock-in-Trade |
0.713 |
0.000 |
0.000 |
|
|
|
Change in Inventories of Finished Goods and Work-in-Progress |
2.394 |
0.805 |
(2.947) |
|
|
|
Employees Benefits Expense |
16.510 |
14.266 |
12.413 |
|
|
|
Other Expenses |
25.352 |
28.403 |
27.962 |
|
|
|
TOTAL (B) |
96.856 |
97.136 |
91.608 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.643 |
(1.400) |
3.671 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
4.453 |
3.819 |
2.756 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.190 |
(5.219) |
0.915 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.028 |
3.497 |
3.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(0.838) |
(8.716) |
(2.195) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
(0.222) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(0.838) |
(8.716) |
(1.973) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(30.201) |
(21.485) |
(19.512) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(60.402) |
(30.201) |
(21.485) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods purchase |
0.714 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
0.714 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(0.14) |
(1.46) |
(0.33) |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 |
|
Net Sales |
|
|
32.600 |
|
Total Expenditure |
|
|
30.200 |
|
PBIDT (Excl OI) |
|
|
2.500 |
|
Other Income |
|
|
0.300 |
|
Operating Profit |
|
|
2.800 |
|
Interest |
|
|
1.500 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
1.300 |
|
Depreciation |
|
|
1.000 |
|
Profit Before Tax |
|
|
0.300 |
|
Tax |
|
|
0.000 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
0.300 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
0.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.80)
|
(9.10) |
(2.07) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.84)
|
(9.48) |
(2.33) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.94)
|
(0.94) |
(5.15) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.03)
|
(0.29) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.12
|
0.78 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.37
|
0.43 |
0.53 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT
(Rs. in Millions)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long term debts |
12.475
|
11.595 |
NA |
|
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 |
No |
|
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 |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS
The Revenue from operation during the year was Rs. 99.533 Millions as against Rs. 91.962 Millions in the previous year reflecting a growth of 8.23% over the previous year. Company has earned profit before Finance Cost, Depreciation and Tax of Rs. 7.643 Millions during the current year as compared to loss of Rs. 1.400 Millions in the previous year. The Company incurred net loss of Rs. 0.838 Millions after making provision for Finance Cost, Depreciation and Tax as compared to Net Loss of Rs. 8.716 Millions in the previous year.
FUTURE OUTLOOK
Company is introducing new range of products under Leisure and Home Division which will be in the launched in market very soon. These products are designed as per international standards and also first of its kind to be available in the Indian market with variety of design and colours. The modern trend of Building Construction and Architecture requires new products than the conventional one. They foresee acceptance and market potential for these products.
MANAGEMENT DISCUSSION
AND ANALYSIS
OVERVIEW
Infra is recognized brand in the western and southern parts of India mainly due to its quality consciousness and services rendered. The Company has expanded product portfolio and ventured in manufacturing products for Industrial applications which have been well accepted by the customers.
The growth in industry and economy will provide opportunity to excel its performance in future. The boom in the housing sector will also contribute as the main business of Infra being in water storage tanks.
INDUSTRIAL OUTLOOK
Infra with experience of more than 22 years in the field of rotational moulding, by this process in western countries service many industrial and various other applications including OEMs. Being a versatile process, Infra has ventured in catering the new application markets.
The advantage of Infra having multi location production facilities which gives the benefit of availability of products to its customers and assurance to OEMs to serve their requirements in time.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2013
(Rs.
in Millions)
|
Sr. No. |
Particulars |
30.06.2013 |
|
|
|
(Unaudited) |
|
1 |
Income from
Operations |
|
|
|
a) Net Sales/Income from Operations (Net of Excise Duty) |
326.29 |
|
|
b) Other Operating Income |
- |
|
|
Total Income from
operations |
326.29 |
|
2 |
Expenditure |
|
|
|
a) Cost of Materials Consumed |
203.65 |
|
|
b) Purchase of traded goods |
- |
|
|
c) Change in Inventories of finished goods, work-in-progress |
(29.75) |
|
|
d) Employee Benefit expense |
42.58 |
|
|
e) Depreciation and amortisation expenses |
9.94 |
|
|
f) Power and Fuel expense |
44.53 |
|
|
h) Other Expenses |
40.44 |
|
|
Total Expenses |
311.39 |
|
3 |
Profit(+)/Loss(-) from Operations before Other income, finance cost & exceptional items (1-2) |
14.89 |
|
4 |
Other Income |
2.90 |
|
5 |
Profit(+)/Loss(-) before finance cost and exceptional items (3+4) |
17.80 |
|
6 |
Finance Cost |
15.10 |
|
7 |
Exceptional Items |
- |
|
8 |
Profit (+)/Loss (-)
from Ordinary Activities before tax (3)- (5+6+7) |
2.69 |
|
9 |
Tax expenses |
- |
|
10 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax(8-9) |
2.69 |
|
11 |
Extraordinary Items (net of tax expenses) |
- |
|
12 |
Net
Profit(+)/Loss(-) for the period (9-10) |
2.69 |
|
13 |
Paid-up equity share capital (face value of the shares Rs. 10/-each) |
598.31 |
|
14 |
Reserves excluding Revaluation Reserves |
- |
|
15 |
Basic & Diluted
EPS (not to be annualised) |
0.05 |
SELECTED INFORMATION FOR THE QUARTER ENDED 30TH JUNE, 2013
|
A |
PARTICULARS OF
SHAREHOLDINGS |
|
|
1 |
Public Shareholding |
|
|
|
- No.of shares |
1811678 |
|
|
- Percentage of shareholding |
30.28% |
|
2 |
Promotors &
Promotor Group Shareholding- |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of Shares |
- |
|
|
- Percentage of Shares (as a % of total shareholding of Promotoers and Promoter Group) |
- |
|
|
-Percentage of shares (as a % of total Share capital of the Company) |
- |
|
|
b) Non Encumbered |
- |
|
|
- Number of shares |
4171422 |
|
|
- Percentage of shares |
100.00% |
|
|
(as a % of total shareholding of Promotoers and Promoter Group) |
|
|
|
- Percentage of shares (as a % of total share capital of the Company) |
69.72% |
|
|
Particulars |
Quarter Ended 30.06.2013 |
|
B |
INVESTOR COMPLAINTS |
|
|
|
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 |
NOTES:
1. The Company is mainly engaged in the business of plastic processing in India. All other activities of the company revolve around the main business, and as such,there are no separate reportable segments.
2. The above financial results have been reviewed by the Audit Committee and taken on record by the Board of Directors at their meeting held on 14-08-2013. The Statutory Auditors have carried out a limited review of financial results of the company for the quarter ended 30-06-2013.
3. The figures for the corresponding previous periods have been restated/regrouped, wherever necessary, to make them comparable with the current periods. Figures of last quarter of previous financial year are the balancing figures between audited figures in respect of the full previous financial year and published year to date figures upto the third quarter of the previous financial year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10358256 |
19/05/2012 |
10,000,000.00 |
INDIAN OVERSEAS BANK |
SANTACRUZ BRANCH, 26A, HARIKRIPA, S.V.ROAD, SANTA |
B40655243 |
|
2 |
80034660 |
29/06/2011 * |
26,757,000.00 |
INDIAN OVERSEAS BANK |
SANTACRUZ BRANCH, 26A, HARIKRIPA, S.V.ROAD, SANTA |
B16882037 |
|
3 |
80027072 |
30/06/2011 * |
26,757,000.00 |
INDIAN OVERSEAS BANK |
SANTACRUZ BRANCH, 26A, HARIKRIPA, S.V.ROAD, SANTA |
B16883613 |
* Date of charge modification
FIXED ASSETS:
·
·
·
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Computers
·
Vehicles
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.61.46 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.84.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.