MIRA INFORM REPORT
|
Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PHOTOQUIP (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
A/33-34 Royal Industrial Estate, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
24.07.1992 |
|
|
|
|
Com. Reg. No.: |
11-067864 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.48.008 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74940MH1992PLC067864 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15952G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCP0468Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, exporter and importer of electronic flash light,
photographic lab and cameras. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
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 1284000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payment terms
are slow but correct. 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
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.
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Anish |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-61474000 |
|
Date : |
20.09.2013 |
LOCATIONS
|
Registered/ Corporate Office/ Factory : |
A/33-34 Royal Industrial Estate, |
|
Tel. No.: |
91-22-61474000 |
|
Fax No.: |
91-22-24144498 |
|
E-Mail : |
|
|
Website: |
|
|
Area : |
Owned |
|
|
|
|
Branch: |
10/116, Salt Pan Division, Lloyds Compound, Antop Hill, Mumbai, |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Jayant P. Soni |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Dhaval J. Soni |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vimal J. Soni |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mohib N. Khericha |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Mohan M. Jayakar |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. Vishnu J. Acharya |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2013
|
Names of Shareholders |
No. of Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2649085 |
55.18 |
|
|
125000 |
2.60 |
|
|
2774085 |
57.78 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2774085 |
57.78 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
5000 |
0.10 |
|
|
12000 |
0.25 |
|
|
1300 |
0.03 |
|
|
18300 |
0.38 |
|
|
|
|
|
|
50677 |
1.06 |
|
|
|
|
|
|
1149215 |
23.94 |
|
|
662283 |
13.80 |
|
|
146240 |
3.05 |
|
|
123840 |
2.58 |
|
|
22400 |
0.47 |
|
|
2008415 |
41.84 |
|
Total Public shareholding (B) |
2026715 |
42.22 |
|
Total (A)+(B) |
4800800 |
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) |
4800800 |
0.00 |
%20LIMITED%20-%20236687%2021-Sep-2013_files/image008.gif){kind=small}
%20LIMITED%20-%20236687%2021-Sep-2013_files/image009.gif){kind=small}
%20LIMITED%20-%20236687%2021-Sep-2013_files/image010.gif){kind=small}
Shareholding of securities (including
shares, warrants, convertible securities) of persons belonging to the category
Promoter and Promoter Group
|
Names of Shareholders |
Details of Shares held |
|
|
|
No. of Shares held |
As a % of grand total |
|
Jenita Dhaval Soni |
6,000 |
0.12 |
|
Kruti Harshvadan Suthar |
5,971 |
0.12 |
|
Tara Jayant Soni |
5,23,395 |
10.90 |
|
Jayant Purshottam Soni |
9,03,342 |
18.82 |
|
Dhaval Jayant Soni |
5,31,400 |
11.07 |
|
Anju Dhaval Soni |
16,300 |
0.34 |
|
Vimal Jayant Soni |
6,54,277 |
13.63 |
|
Piri Systems Pvt Ltd |
1,25,000 |
2.60 |
|
Pulin Dhaval Soni |
8,400 |
0.17 |
|
Total |
27,74,085 |
57.78 |
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
|
Names of Shareholders |
Details of Shares held |
|
|
|
No. of Shares held |
As a % of grand total |
|
Haresh Chamanlal Soni |
57883 |
1.21 |
|
Nitin Arora |
96690 |
2.01 |
|
Sudha Ashok Ajmera |
68266 |
1.42 |
|
Total |
222839 |
4.64 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and importer of electronic flash light,
photographic lab and cameras. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users and OEM’s |
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No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||
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Bankers : |
Tel No. : 91-22-24185128
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Facilities : |
NOTE: Nature of Security and terms of repayment for Long Term secured
borrowings
Installments
falling due in respect of all the above Loans up to 31.03.2014 have been grouped
under “Current maturities of long-term debt". SHORT TERM
BORROWING: Cash Credit and
Packing Credit facilities are Secured by exclusive charge on stock and book
debts, present and future. It is also secured by Sole Charge on Gala Nos. C-23,
A-29 and A-33 Located at Royal Industrial Estate, Naigaon Cross Road, Wadala,
Mumbai. It is further secured by Personal Guarantees of Promotor Directors
and secured by Lien marked Fixed Deposit of Rs.6000000 and Interest Accrued
thereon. |
|||||||||||||||||||||||||||||||||||||||||||||
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mayank Shah and Associates Chartered Accountant |
|
Address : |
706/708, Mahakant Opposite V.S. Hospital, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
|
Tel. No.: |
91-79-26575642, 26579106 |
|
E-Mail : |
|
|
PAN No. : |
|
|
|
|
|
Enterprise under
significant influence of key management personnel (Enterprise) : |
Ø Piri Systems
Private Limited Ø Vijay Studio
System Ø Photoquip |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800800 |
Equity Shares |
Rs.10/- each |
Rs.48.008 Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period:-
|
Particulars |
31.03.2013 |
|
|
Equity Shares |
Nos. |
Rs. In Millions |
|
At the beginning of the period |
4800800 |
48.008 |
|
Issued during the period |
-- |
-- |
|
Outstanding at the end of the period |
4800800 |
48.008 |
Terms / rights attached to Shares
Equity Shares
The company has one
class of Equity shares having a par value of Rs. 10 per share. Each share
holder of equity shares is entitled to one vote per share. In the event of
liquidation, the equity shareholders are eligible to receive the remaining
assets of the company, after distribution of all preferential amounts, in
proportion to their shareholding
Details of shares held by shareholders holding more than 5% of
the aggregate shares in the Company:
|
Particulars |
31.03.2013 |
|
|
|
Nos. |
% holding in the class |
|
Equity Shares |
|
|
|
Mr. Jayant Purshottam Soni |
873342 |
18.19 |
|
Mr. Vimal Jayant Soni |
599277 |
12.48 |
|
Mr. Dhaval Jayant Soni |
501400 |
10.44 |
|
Mrs. Tara Jayant Soni |
493395 |
10.28 |
There were no instances
of shares issued, on which there were any calls remaining unpaid or instance of
any forfeitures during the year ended March 31, 2013 and 2012.
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 |
48.008 |
48.008 |
48.008 |
|
(b) Reserves & Surplus |
273.078 |
275.874 |
232.089 |
|
(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) |
321.086 |
323.882 |
280.097 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
59.511 |
0.700 |
2.367 |
|
(b) Deferred tax liabilities (Net) |
3.259 |
3.554 |
3.266 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
62.770 |
4.254 |
5.633 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
92.462 |
77.291 |
18.102 |
|
(b) Trade payables |
102.893 |
114.934 |
70.299 |
|
(c) Other current
liabilities |
13.401 |
3.600 |
9.353 |
|
(d) Short-term
provisions |
7.603 |
13.718 |
4.872 |
|
Total Current
Liabilities (4) |
216.359 |
209.543 |
102.626 |
|
|
|
|
|
|
TOTAL |
600.215 |
537.679 |
388.356 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
91.162 |
93.578 |
87.177 |
|
(ii) Intangible Assets |
6.627 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
2.638 |
0.000 |
|
(b) Non-current Investments |
0.286 |
0.286 |
3.867 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
143.404 |
129.177 |
108.086 |
|
(e) Other
Non-current assets |
33.663 |
2.404 |
14.480 |
|
Total Non-Current
Assets |
275.142 |
228.083 |
213.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
100.297 |
143.514 |
78.142 |
|
(c) Trade receivables |
29.454 |
25.452 |
21.785 |
|
(d) Cash and cash
equivalents |
46.869 |
14.468 |
14.404 |
|
(e) Short-term loans
and advances |
148.453 |
126.162 |
60.415 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
325.073 |
309.596 |
174.746 |
|
|
|
|
|
|
TOTAL |
600.215 |
537.679 |
388.356 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
775.950 |
822.950 |
612.413 |
|
|
|
Other Income |
6.045 |
11.412 |
7.601 |
|
|
|
TOTAL |
781.995 |
834.362 |
620.014 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
425.698 |
366.523 |
332.196 |
|
|
|
Purchase of Stock in Trade |
255.387 |
264.639 |
155.189 |
|
|
|
Changes in Inventories of stock in Trade |
(21.053) |
14.878 |
(19.351) |
|
|
|
Employee Benefit Expenses |
49.198 |
37.542 |
33.158 |
|
|
|
Other Expenses |
56.253 |
65.952 |
50.878 |
|
|
|
TOTAL |
765.483 |
749.534 |
552.070 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
16.512 |
84.828 |
67.944 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
10.236 |
8.987 |
4.457 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.276 |
75.841 |
63.487 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
9.368 |
4.850 |
4.322 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(3.092) |
70.991 |
59.165 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(0.296) |
43.787 |
12.666 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(2.796) |
27.204 |
46.499 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Exports |
531.318 |
523.019 |
456.319 |
|
|
TOTAL EARNINGS |
531.318 |
523.019 |
456.319 |
|
|
|
|
|
|
|
|
|
|
Value Of Import CIF Basis |
236.367 |
297.705 |
14.022 |
|
|
|
TOTAL IMPORTS |
236.367 |
297.705 |
14.022 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.58) |
9.12 |
9.69 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total
Income |
(%) |
(0.36)
|
3.26 |
7.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.40)
|
8.63 |
9.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.51)
|
13.27 |
15.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.22 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47
|
0.24 |
0.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.47 |
1.70 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT:
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current Maturities of Long Term Debt |
11.525 |
2.843 |
8.535 |
|
|
|
|
|
|
Total |
11.525 |
2.843 |
8.535 |
|
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 |
Yes |
|
9] |
Name
of person contacted |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
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 |
Yes |
|
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 |
No |
|
32] |
PAN
of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10409873 |
02/03/2013 |
70,000,000.00 |
APNA SAHAKARI BANK LTD. |
D. SARFARE CHOWK, A/4-5, ROYAL INDUSTRIAL
ESTATE, WADALA, MUMBAI, MAHARASHTRA - 400031, INDIA |
B70040290 |
|
2 |
10255179 |
14/03/2013 * |
90,000,000.00 |
CITIBANK N.A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT
NO.C60, BANDRA KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA |
B72979230 |
|
3 |
10065802 |
12/04/2007 |
35,400,000.00 |
THE APNA SAHAKARI BANK LIMITED |
D SARFARE CHOWK BRANCH,, NAIGAON, WADALA,
MUMBAI, MAHARASHTRA - 400031, INDIA |
A13968797 |
* Date of charge
modification
COMPANY
INFORMATION
Subject is a
public limited company listed at Bombay and Ahmedabad Stock Exchanges.
The company is engaged
in manufacturing of Digital Studio Flash Lights and Photographic Accessories
which is 100% EOU and is an OEM for a company based in Switzerland. The Company
also operates a trading division wherein it trades in similar products and has
exclusive rights to market in India the products of the Swiss company. The
Company has during the current financial year developed general LED Lights
under the brand name “CORVI” for which Trade Mark and designs has been
registered in many countries. The commercial operations for LED Lights have
started from December 2012.
OPERATIONS
The Company has
commenced commercial operations of its General Lighting Division under the
brand name of corvi with effect from 12.12.2012. The products have won
prestigious national / international awards for their unique design and
aesthetic appeal. Some of the notable awards are the reddot, iif, Acetech
Design Wall among others. The products have been referred for the greendot
award at Japan. The Company anticipates bright prospects for the new venture in
the coming years.
In the overall
context, the Studio Flash division has taken a slight hit on account of slow
demand of exports coupled with a steep increase in input costs.
MANAGEMENT DISCUSSION AND ANALYSIS
The Company has strong Research and Development base and used
cutting-edge technology in development of Digital Flash Lights, LED Lights and
other products. There is a growing potential for LED products in the local as
well as international markets being highly energy-efficient and leading to
substantial cost savings. The Company enjoys a global presence for its Digital
Studio Flash Lights and will leverage the same for its LED products. The
Company has ample opportunities in increasing its presence in the global arena
and to penetrate unexplored local markets for the Company’s products mainly the
Digital Studio Flash Lights and LED products.
Considering the economic scenario, the Company has diversified its
business in trading of LED lights which has bright prospects. The challenge to
the business is decreasing export demand and declining value of the Indian
Rupee. The Company is in a nascent stage to penetrate its LED products in the
local markets and is sparing no efforts with its turnaround strategy.
Since, presently the Company operates in only one segment of
Photographic and Allied Products, the Management Discussion Analysis is not
material and is included in the Directors’ Report.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2013
(Rs. In Millions)
|
|
Particulars |
30.06.2013 |
|
|
|
(Unaudited) |
|
|
|
|
|
1 |
Income from Operations / Turnover (Gross) |
225.812 |
|
|
Less ; Excise Duty |
|
|
|
Net Income from Operations /
Turnover |
225.812 |
|
2 |
Other Operatinq Income |
|
|
3 |
Total Income (1 + 2) |
225.812 |
|
4 |
Expenditure |
|
|
|
a) Raw Material Consumed |
114.402 |
|
|
b) Purchase (Trading) |
71.770 |
|
|
c) (increase) / Decrease in
Stock-in-Trade |
3.083 |
|
|
d) Employees Cost |
8.593 |
|
|
e) Depreciation /
Amortisation |
3.835 |
|
|
f) Other Expenditure |
27.092 |
|
|
Total |
228.775 |
|
5 |
Profit from Operations
before Other Income and Interest (3-4) |
(2.963) |
|
6 |
Other Income |
0.212 |
|
7 |
Profit before Interest (5 +
6) |
(2.751) |
|
8 |
Interest |
3.777 |
|
9 |
Profit Before Tax (7 -8) |
(6.528) |
|
10 |
Tax Expenses (including
Deferred Tax) |
(2.395) |
|
11 |
Profit for the Period (9-10) |
(4.133) |
|
12 |
Paid-up Equity Share Capital
(Face Value Rs. 10/- each) |
48.008 |
|
13 |
Reserves excluding P,evaluation
Reserves (as per las; aud.ted Balance Sheet) |
|
|
14 |
Earnings per Share (EPS) Basic and Diluted EPS (not annualised) |
(0.86) |
|
|
|
|
|
A |
Public Shareholding |
|
|
|
- Number of Shares held |
2026715 |
|
|
- % of Shareholding |
42 22% |
|
|
Promoters and Promoter group
Shareholding |
|
|
|
a) Pledged/Encumbered |
|
|
|
Number
of Shares |
|
|
|
Percentage of Shares (as a %
of the total shareholding of the Promoter and Promoter Group) |
0.00% |
|
|
Percentage of Shares (as a % of the total Share
Capital of the Company) |
0.00% |
|
|
b) Non-encumbered |
|
|
|
Number
of Shares |
2774085 |
|
|
Percentage of Shares (as a %
of the total shareholdinq of the Promoter and Promoter Group) |
100.00% |
|
|
Percentage of Shares (as a %
of the total Share Capital of the Company) |
57.78% |
|
B |
INVESTOR COMPLAINTS |
30.6.2013 |
|
|
Particulars |
|
|
|
Pending at the beginning of
the quarter |
NIL |
|
|
Received during the quarter |
NIL |
|
|
Disposed off during the
quarter |
NIL |
|
|
Remaining unresolved at the
end of the quarter |
NIL |
NOTE:
1) The Company is operating in one segment only i.e. Photographic and Allied Equipment
2) Previous Year's figures have been regrouped, wherever necessary.
3) The provisions of Current Tax expenses and MAT Credit Entitlement have
been made as per prevailing Income Tax Act.
4) The above financial results have been reviewed by the Audit Committee,
and approved by the Board of Directors in their meeting
held on 14 8.2013.
5) The figures for the quarter ended en March 31. 2: 13 are the balancing
figures between audited figures m respect of the full
financial year 2012-13 and the regrouped figures up to the third quarter ended
on December 31. 2012
FIXED ASSETS:
Ø Land
Ø Office Building
Ø Factory Building
Ø Machinery
Ø Lab Tools /
Equipment
Ø Dies and Moulds
Ø Electrical
Fittings
Ø Office Equipment
Ø Air Conditioner
Ø Computers
Ø Typewriter
Ø Sign Board
Ø Furniture and
Fixtures
Ø Motor Car
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
NO |
|
--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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.