MIRA INFORM REPORT
|
Report Date : |
03.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
MANGALAM DRUGS AND ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
292, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
18.04.1972 |
|
|
|
|
Com. Reg. No.: |
11-116413 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.131.782 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230MH1972PLC116413 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM19790B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM7880P |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of active Pharma ingredients, bulk drugs,
perfumery chemicals, disperse dye intermediate. |
|
|
|
|
No. of Employees
: |
529 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
Comments : |
Subject is an established company having a moderate track record.
There appears sharp dip in the profits during 2012. The external borrowings
of the company appear to be increasing over years. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with great
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 |
CRISIL |
|
Rating |
LONG TERM RATING : CRISIL B- |
|
Rating Explanation |
High risk of default |
|
Date |
06.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
SHORT TERM RATING : CRISIL A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
06.02.2013 |
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 : |
292, |
|
Tel. No.: |
91-22-22087969/7489/7411 |
|
Fax No.: |
91-22-22087074 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Unit No.1 and 2, Plot No.187, GIDC Vapi, District – Bulsar – 396195,
Gujarat, India |
|
Tel. No.: |
91-260-2430598/2143 |
|
Fax No.: |
91-260-2431919 |
|
|
|
|
Factory 2 : |
Plot No.1203, GIDC Vapi, District – Bulsar – 396195, |
|
Tel. No.: |
91-260-2430598/2143 |
|
Fax No.: |
91-260-2431919 |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Goverdhan Dhoot |
|
Designation : |
Chairman |
|
Address : |
214, Ozeana, 5th Floor, |
|
Date of Birth/Age : |
21.10.1953 |
|
Date of Appointment : |
16.04.1996 |
|
DIN No.: |
01240086 |
|
Name : |
Mr. Subhash C. Khattar |
|
Designation : |
Director |
|
Address : |
C-7, Swati Apartment, Kalyan Complex, Off |
|
Date of Birth/Age : |
03.07.1939 |
|
Date of Appointment : |
04.06.2004 |
|
DIN No.: |
01122941 |
|
Name : |
Mr. Rajendraprasad Mimani |
|
Designation : |
Director |
|
Address : |
35, |
|
Date of Birth/Age : |
02.04.1952 |
|
Date of Appointment : |
01.11.2004 |
|
DIN No.: |
00017399 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3154235 |
23.94 |
|
|
2475560 |
18.79 |
|
|
5629795 |
42.72 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
5629795 |
42.72 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
2991550 |
22.70 |
|
|
|
|
|
|
3066838 |
23.27 |
|
|
1387310 |
10.53 |
|
|
102755 |
0.78 |
|
|
23085 |
0.18 |
|
|
79670 |
0.60 |
|
|
7548453 |
57.28 |
|
Total Public shareholding (B) |
7548453 |
57.28 |
|
Total (A)+(B) |
13178248 |
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) |
13178248 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of active Pharma ingredients, bulk drugs, perfumery chemicals, disperse dye intermediate. |
||||||||||
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|
Products : |
|
PRODUCTION STATUS
As on 31.03.2012
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Basic Drugs and Intermediates |
Tons |
NA. |
600 |
369.22 |
Note :
Installed Capacity varies depends on the product-mix
manufactured by the company from year to year and accordingly figures of
Installed Capacity have been regrouped whenever necessary.
GENERAL INFORMATION
|
No. of Employees : |
529 (Approximately) |
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Bankers : |
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|||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Milwani Associates Chartered Accountant |
|
Address : |
18, Bagaria house, 1st Floor, |
|
|
|
|
Associates : |
|
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 |
|
|
|
|
|
|
13178248 |
Equity shares |
Rs.10/- each |
Rs.131.782
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 |
|
131.782 |
131.782 |
|
(b) Reserves & Surplus |
|
248.835 |
242.498 |
|
(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) |
|
380.617 |
374.280 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
219.564 |
191.931 |
|
(b) Deferred tax liabilities (Net) |
|
64.524 |
61.682 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
284.088 |
253.613 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
340.451 |
285.196 |
|
(b) Trade
payables |
|
126.844 |
156.104 |
|
(c) Other
current liabilities |
|
87.454 |
63.324 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
554.749 |
504.624 |
|
|
|
|
|
|
TOTAL |
|
1219.454 |
1132.517 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
568.360 |
542.615 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
1.518 |
2.044 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
21.080 |
16.100 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
590.958 |
560.759 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
1.444 |
1.440 |
|
(b)
Inventories |
|
489.846 |
332.706 |
|
(c) Trade
receivables |
|
89.099 |
217.652 |
|
(d) Cash
and cash equivalents |
|
10.268 |
6.924 |
|
(e)
Short-term loans and advances |
|
37.839 |
13.036 |
|
(f) Other
current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
628.496 |
571.758 |
|
|
|
|
|
|
TOTAL |
|
1219.454 |
1132.517 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
131.782 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
279.941 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
411.723 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
314.102 |
|
|
2] Unsecured Loans |
|
|
88.186 |
|
|
TOTAL BORROWING |
|
|
402.288 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
814.011 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
465.242 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
1.440 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
238.617 |
|
|
Sundry Debtors |
|
|
219.858 |
|
|
Cash & Bank Balances |
|
|
6.473 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
25.253 |
|
Total
Current Assets |
|
|
490.201 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
Other Current Liabilities |
|
|
|
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
142.872 |
|
|
Net Current Assets |
|
|
347.329 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
814.011 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income (Sales and Services) |
1531.819 |
1273.849 |
1122.922 |
|
|
|
Other Income |
9.540 |
5.947 |
4.660 |
|
|
|
TOTAL (A) |
1541.359 |
1279.796 |
1127.582 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1244.485 |
976.687 |
|
|
|
|
Changes in inventories of finished goods, work in progress and stock in trade |
(157.615) |
(57.527) |
|
|
|
|
Employee benefits expense |
90.097 |
74.913 |
|
|
|
|
Other Expenses |
214.006 |
154.361 |
|
|
|
|
TOTAL (B) |
1390.973 |
1148.434 |
1018.621 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
150.386 |
131.362 |
108.961 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
101.643 |
68.593 |
57.219 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
48.743 |
62.769 |
51.742 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.364 |
32.730 |
29.712 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.379 |
30.039 |
22.030 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
5.042 |
9.155 |
9.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
6.337 |
20.884 |
12.912 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
56.590 |
35.706 |
22.794 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
62.927 |
56.590 |
35.706 |
|
|
|
|
|
|
|
|
|
|
TOTAL EXPORT
EARNINGS |
103.744 |
112.061 |
204.752 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.48 |
1.58 |
1.38 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
31.03.2013 |
30.06.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
5th
Quarter |
|
|
|
|
|
|
|
|
Net Sales |
242.600 |
203.900 |
354.900 |
461.700 |
184.400 |
|
Total Expenditure |
269.900 |
211.800 |
343.200 |
471.800 |
210.800 |
|
PBIDT (Excl
OI) |
(27.300) |
(7.900) |
11.600 |
(10.000) |
(26.300) |
|
Other Income |
0.100 |
0.100 |
0.000 |
05.100 |
00.200 |
|
Operating
Profit |
(27.200) |
(7.800) |
11.600 |
(5.000) |
(26.100) |
|
Interest |
23.700 |
24.400 |
26.9000 |
25.300 |
22.700 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
(50.900) |
(32.200) |
(15.200) |
(30.300) |
(48.800) |
|
Depreciation |
9.300 |
10.200 |
9.800 |
10.100 |
09.900 |
|
Profit
Before Tax |
(60.300) |
(42.400) |
(25.000) |
(40.300) |
(58.700) |
|
Tax |
0.000 |
0.000 |
0.000 |
(50.000) |
0.000 |
|
Provisions
and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit
After Tax |
(60.300) |
(42.400) |
(25.000) |
9.700 |
(58.700) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
(60.300) |
(42.400) |
(25.000) |
9.700 |
(58.7000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.41
|
1.63
|
1.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.74
|
2.36
|
1.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.93
|
2.66
|
2.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.08
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.47
|
1.27
|
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.13
|
3.43 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DETAILS OF UNSECURED LOAN
(Rs. In Millions)
|
Particulars
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
DEFERRED PAYMENT
LIABILITIES |
|
|
|
Deferred Sales tax loan |
3.998 |
4.023 |
|
|
|
|
|
TERM LOAN |
|
|
|
From Others |
110.000 |
100.000 |
|
Total |
113.998 |
104.023 |
CONTINGENT LIABILITY:
(Rs. In
Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
A) Performance
Guarantees/ Bonds |
|
|
|
(i) Guarantee executed in favor of Assistant Collector of Customs |
1.985 |
1.985 |
|
(ii) Guarantee executed in favor of Export Parties. |
0.000 |
0.000 |
|
(iii) Guarantee executed in favor of Central Excise |
0.884 |
0.884 |
|
|
|
|
|
B) Others |
|
|
|
(iv) Guarantee given to GSPC Gas Company Limited |
6.602 |
4.576 |
|
(v) Guarantee given to Corporate |
0.000 |
561.934 |
|
(vi) Guarantee given to GPCB |
0.800 |
0.000 |
|
(vii) Guarantee given to Sale Tax (Gujarat) |
0.271 |
0.000 |
AUDITED FINANCIAL RESULTS FOR
THE QUARTER AND YEAR ENDED 31ST MARCH 2013
(Rs. in Millions)
|
Sr. No. |
Particulars |
Quarter ended |
Year ended |
|
|
|
|
3 months ended |
Previous 3 months ended in the current
year |
Current accounting year ended |
|
|
|
31.03.13 |
31.12.12 |
31.03.13 |
|
1 |
Sales/Income from
operation(Net of Excise duty) |
459.055 |
354.874 |
1252.587 |
|
2 |
Other Operating Income |
2.667 |
0.000 |
10.432 |
|
3 |
Total Net Income from Operation |
461.722 |
354.874 |
1263.019 |
|
4 |
Expenditure |
|
|
|
|
|
(a) Increase /
decrease in stock in trade & work in progress |
130.755 |
(35.021) |
200.528 |
|
|
(b) Consumption of
raw materials |
271.132 |
298.179 |
810.406 |
|
|
(c) Employees Cost |
26.141 |
25.043 |
94.632 |
|
|
(d) Depreciation |
10.062 |
9.778 |
39.397 |
|
|
(e) Other
expenditure |
43.734 |
55.040 |
191.119 |
|
|
(f) Total |
481.824 |
353.019 |
1336.082 |
|
5 |
Profit(+)/Loss(-)
from operations before Other income, Finance cost and Exceptional Items(3-4) |
(20.102) |
1.855 |
(73.063) |
|
6 |
Other income |
5.086 |
0.012 |
5.296 |
|
7 |
Profit (+) / Loss
(-) from ordinary activities before Finance Cost & Exceptional Items(5+6) |
(15.016) |
1.867 |
(67.767) |
|
8 |
Finance Cost |
25.320 |
26.867 |
100.224 |
|
9 |
Profit(+)/Loss(-)
from ordinary activities after Finance cost & Exceptional Items(7-8) |
(40.336) |
(25.000) |
(167.991) |
|
10 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
11 |
Profit(+)/Loss(-) before Tax (9-10) |
(40.336) |
(25.000) |
(167.991) |
|
12 |
Tax Expenses(incl
Deferred Tax) |
(49.998) |
0.000 |
(49.998) |
|
13 |
Net
Profit(+)/Loss(-) after Tax (11-12) |
9.662 |
(25.000) |
(117.993) |
|
14 |
Extraordinary
Items |
0.000 |
0.000 |
0.000 |
|
15 |
Net Profit(+)/Loss(-) for the period(13-14) |
9.662 |
(25.000) |
(117.993) |
|
16 |
Paid up Equity
Share Capital (face value Rs.10/-each) |
131.782 |
131.782 |
131.782 |
|
12 |
Reserves excluding
Revaluation Reserves as per balance sheet of previous accounting year. |
|
|
130.840 |
|
13 |
Earning per share (EPS) |
|
|
|
|
|
(a) Basic and
diluted EPS before extraordinary items for the period, for the year to date and
for the previous year (not to be annualized) |
0.73 |
(1.90) |
(8.96) |
|
|
(b) Basic and
diluted EPS after extraordinary items for the period, for the year to date
and for the previous year (not to be annualized) |
0.73 |
(1.90) |
(8.96) |
|
14 |
Non Promoters Shareholding |
|
|
|
|
|
- Number of shares |
7548453 |
7548453 |
7548453 |
|
|
- Percentage of
shareholding |
57.28 |
57.28 |
57.28 |
|
15 |
Promoters and Promoter group Shareholding |
|
|
|
|
|
a) Pledged/ Encumbered |
|
|
|
|
|
Number of Shares |
5448708 |
5448708 |
5448708 |
|
|
Percentage of
Shares (as a % of the total |
|
|
|
|
|
shareholding of
promoter & promoter group |
96.78 |
96.78 |
96.78 |
|
|
Percentage of
Shares (as a % of the total |
|
|
|
|
|
share capital of the
company) |
41.35 |
41.35 |
41.35 |
|
|
b) Non-encumbered |
|
|
|
|
|
Number of Shares |
181087 |
181087 |
181087 |
|
|
Percentage of
Shares (as a % of the total |
|
|
|
|
|
shareholding of
promoter & promoter group) |
3.22 |
3.22 |
3.22 |
|
|
Percentage of
Shares (as a % of the total |
|
|
|
|
|
share capital of
the company) |
1.37 |
1.37 |
1.37 |
Notes:
1. The above results have been reviewed by the Audit
Committee and thereafter , were taken on record by the Board of Directors of
the Company at their meeting held on 23rd,May 2013
2. The results for the quarter ended March 31,2013 are
derived figures arrived at by subtracting the results for the nine months ended
on December 31,2012 from the audited results for the year ended March 31,2013.
3. As the Company's business activity falls within a
single primary business segment viz "Manufacturing of Bulk drugs" the
disclosure requirement of Accounting Standard (AS-17)"Segment
Reporting" is not applicable.
4. During the Quarter and Year ended 31st March 2013, 0
Investor complaint were received all of which have been attended by the
company. No complaints were pending at the beginning or at the end of the
quarter.
5. Previous year figure are regrouped wherever necessary.
FIXED ASSETS:
- Land
- Other Building
- Plant and Machinery
- Motor Car
- Furniture and Fixture
- Office Equipment
- Computers
- Laboratory Equipment
- Air Conditioner
WEBSITE DETAILS:
Business Description
Subject
is an India-based company. The Company has two segments: bulk drugs, and
chemicals and others. The Company is engaged in the manufacturing of chemicals,
such as active pharma ingredients (API) perfumery, disperse dye intermediates,
bulk drugs and bulk drugs intermediates. During the fiscal year ended March 31,
2010, the Company produced 633.59 tons of bulk drugs and intermediates; 6.54
tons of dyes and intermediates; 54.66 tons of meta chloro aniline and allied
products, and 30 tons of phenyl ethyl alcohol, phenyl ethyl methyl, ether and
allied products. As of March 31, 2010, it had installed capacity to produce
1,260 tons of bulk drugs and intermediates; 750 tons of dyes and intermediates;
350 tons of meta chloro aniline and allied products, and 350 tons of phenyl
ethyl alcohol, phenyl ethyl methyl, ether and allied products. The Company’s
products include chloroquine phosphate I.P., aluminum chloride anhydrous, and
dyes and intermediaries. For the nine months ended 31 December 2010, subject's
revenues increased 15% to RS988.7M. Net income increased 35% to RS15.4M.
Revenue reflect an increase in income from operations. Net income also reflects
a rise in operating profit margin. The Company is engaged in the manufacturing
of chemicals, such as active pharma ingredients (API) perfumery, disperse dye
intermediates, bulk drugs and bulk drugs intermediates.
Board of Directors
Mr. Govardhan M. Dhoot
Executive
Chairman of the Board, Chief Executive Officer
He has
over three decades of experience in the Chemical Industry, handling marketing
in both domestic and export market. He has traveled to many countries and
visited important Industrial and Commercial Capitals all over the world. He is
director of Raga Organics Private Limited, Mangalam Laboratories Private
Limited
Mr. Rajendraprasad K. Mimani
Non-Executive
Independent Director
He has
experience in marketing of various types of products. He has an experience over
35 years. His other Directorships include Universal Transformers Private
Limited, Boesky Securities Private Limited
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
uption 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.65.86 |
|
|
1 |
Rs.102.52 |
|
Euro |
1 |
Rs.87.06 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
36 |
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.