MIRA INFORM REPORT
|
Report Date : |
25.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SONAL ADHESIVES LIMITED |
|
|
|
|
Registered
Office : |
2N, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.11.1991 |
|
|
|
|
Com. Reg. No.: |
11-064045 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 60.610 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L02004MH1991PLC064045 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39375A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS6289A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Adhesive Tapes and Plastic Ropes |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 340000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profit
margin and reserves appears to be low. Trade relations are reported as fair. Business is active. Payments are
reported to be 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB+ |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation |
|
Date |
09.08.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4+ |
|
Rating Explanation |
Having Minimal degree of safety and carry very high credit risk. |
|
Date |
09.08.2012 |
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 DECLINED BY
|
Name : |
Ms. Mona Arora |
|
Designation : |
Director |
|
Contact No.: |
91-22-65702305 |
|
Date : |
24.09.2013 |
LOCATIONS
|
Registered Office : |
2N, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-61316131 |
|
Fax No.: |
91-22-61316132 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 28/A Village – Dheku, Takai Adosi Road, Off Khopoli Pen Road Khalapur, Raigad-400004, Maharashtra, India |
|
Tel. No.: |
91-219-2262622 / 262620 |
|
Fax No.: |
91-219-2268617 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Sandeep M. Arora |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Kamal M. Arora |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jaspal Singh Bhasin |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manish S. Nanda |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Mona Arora |
|
Designation : |
Director |
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 |
|
|
|
|
|
|
|
|
699400 |
11.54 |
|
|
3101500 |
51.17 |
|
|
3800900 |
62.71 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
3800900 |
62.71 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
122400 |
2.02 |
|
|
122400 |
2.02 |
|
|
|
|
|
|
298285 |
4.92 |
|
|
|
|
|
|
1099076 |
18.13 |
|
|
481989 |
7.95 |
|
|
258350 |
4.26 |
|
|
117350 |
1.94 |
|
|
106000 |
1.75 |
|
|
35000 |
0.58 |
|
|
2137700 |
35.27 |
|
Total Public shareholding (B) |
2260100 |
37.29 |
|
Total (A)+(B) |
6061000 |
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) |
6061000 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the
Shareholder |
Details of Shares
held |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
|
1 |
Kamal Mohan Arora |
62,400 |
1.03 |
1.03 |
|
2 |
Kamal Mohanlal Arora |
4,13,000 |
6.81 |
6.81 |
|
3 |
Megha Mohanlal Arora |
1,42,000 |
2.34 |
2.34 |
|
4 |
Mona Mohanlal Arora |
82,000 |
1.35 |
1.35 |
|
5 |
Sonal Impex Limited |
28,22,700 |
46.57 |
46.57 |
|
6 |
Sonal Ropes Limited |
2,78,800 |
4.60 |
4.60 |
|
|
Total |
38,00,900 |
62.71 |
62.71 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. 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 |
Piramal Polymers Limited |
171200 |
2.82 |
2.82 |
|
2 |
CRB Trustee Limited A/c C |
120000 |
1.98 |
1.98 |
|
3 |
Sajjan Kumar Makha |
66600 |
1.10 |
1.10 |
|
4 |
Satyanarayan Khan |
113700 |
1.88 |
1.88 |
|
5 |
Mita Dipak Shah |
93826 |
1.55 |
1.55 |
|
6 |
Ajay G Piramal |
100000 |
1.65 |
1.65 |
|
|
Total |
665326 |
10.98 |
10.98 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Adhesive Tapes and Plastic Ropes |
PRODUCTION STATUS (As on 31.03.2012)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
BOPP Tapes |
Lakhs sqm |
1,300 |
686 |
|
Ropes |
Lakhs sqm |
12 |
5 |
GENERAL INFORMATION
|
No. of Employees : |
40 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
State Bank of India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
K.S. Sanghvi and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Enterprise over
which Key Management Personnel are able to exercise significant influence |
Zain Fresh Agro Limited |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6061000 |
Equity Shares |
Rs.10/- each |
Rs.60.610 Millions |
|
|
|
|
|
Equity shareholders
holding more than 5% of the equity shares alongwith the number of equity shares
held is given below
|
Particular |
No. of Share |
% |
|
Sonal Impex Limited |
2822700 |
46.57% |
Reconciliation of the
number of shares at the beginning of the year and at the end of the year
|
Particular |
No. of Share |
|
Opening balance |
6061000 |
|
Add: Fresh shares / bonus shares issued during the year |
-- |
|
Less: Buyback of shares during the year |
-- |
|
Closing balance |
6061000 |
The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitiled to one vote per share. In the event of liquidation of the company, the holder of equity shares will be entitled to receive remaining assets of the company.
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 |
60.610 |
60.610 |
60.610 |
|
(b) Reserves & Surplus |
26.756 |
21.780 |
20.565 |
|
(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) |
87.366 |
82.390 |
81.175 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
155.223 |
118.981 |
94.691 |
|
(b) Deferred tax liabilities (Net) |
0.007 |
0.007 |
0.007 |
|
(c) Other long term
liabilities |
5.864 |
5.408 |
4.399 |
|
(d) long-term
provisions |
10.050 |
8.106 |
6.361 |
|
Total Non-current
Liabilities (3) |
171.144 |
132.502 |
105.458 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
5.155 |
0.000 |
0.000 |
|
(b) Trade
payables |
135.267 |
97.951 |
60.008 |
|
(c) Other
current liabilities |
7.239 |
12.740 |
7.131 |
|
(d) Short-term
provisions |
12.080 |
14.712 |
10.975 |
|
Total Current
Liabilities (4) |
159.741 |
125.403 |
78.114 |
|
|
|
|
|
|
TOTAL |
418.251 |
340.295 |
264.747 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
79.124 |
35.403 |
30.508 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
13.024 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
22.444 |
25.989 |
32.181 |
|
(e) Other
Non-current assets |
27.812 |
15.550 |
7.111 |
|
Total Non-Current
Assets |
129.380 |
89.966 |
69.800 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
128.474 |
126.729 |
115.844 |
|
(c) Trade
receivables |
132.726 |
96.343 |
69.594 |
|
(d) Cash
and cash equivalents |
3.659 |
2.934 |
2.653 |
|
(e)
Short-term loans and advances |
23.665 |
23.752 |
6.324 |
|
(f) Other
current assets |
0.347 |
0.571 |
0.532 |
|
Total
Current Assets |
288.871 |
250.329 |
194.947 |
|
|
|
|
|
|
TOTAL |
418.251 |
340.295 |
264.747 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
583.528 |
502.417 |
412.826 |
|
|
|
Other Income |
2.427 |
1.162 |
2.391 |
|
|
|
TOTAL (A) |
585.955 |
503.579 |
415.217 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
550.801 |
480.768 |
377.187 |
|
|
|
Change in inventories of finished goods, work in progress and stock it |
(24.366) |
(32.439) |
1.076 |
|
|
|
Employee benefits expense |
4.640 |
4.869 |
6.450 |
|
|
|
Other expenses |
25.138 |
23.911 |
11.155 |
|
|
|
TOTAL (B) |
556.213 |
477.109 |
395.868 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
29.742 |
26.470 |
19.349 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.164 |
16.107 |
9.922 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
9.577 |
10.363 |
9.427 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.799 |
2.535 |
2.411 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.778 |
7.828 |
7.016 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.609 |
2.451 |
2.213 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.169 |
5.377 |
4.803 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.780 |
19.565 |
18.285 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Deferred tax liability of prior years |
0.193 |
0.639 |
0.000 |
|
|
|
Proposed final dividend |
0.000 |
3.031 |
3.031 |
|
|
|
Dividend distribution tax on proposed final dividend |
0.000 |
0.492 |
0.492 |
|
|
BALANCE CARRIED
TO THE B/S |
25.756 |
20.780 |
19.565 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.85 |
0.89 |
0.79 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2013 1st
Quarter |
|
Net Sales |
|
|
128.800 |
|
Total Expenditure |
|
|
121.000 |
|
PBIDT (Excl OI) |
|
|
7.900 |
|
Other Income |
|
|
0.000 |
|
Operating Profit |
|
|
7.900 |
|
Interest |
|
|
4.500 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
3.400 |
|
Depreciation |
|
|
0.800 |
|
Profit Before Tax |
|
|
2.600 |
|
Tax |
|
|
0.000 |
|
Provisions and
contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
2.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.88
|
1.07 |
1.16 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
1.56 |
1.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.62
|
2.39 |
2.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.84
|
1.44 |
1.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
2.00 |
2.50 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT: NOT AVAILABLE
|
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 |
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 |
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 |
Yes |
NATURE OF BUSINESS
The Company is in the business of manufacturing adhesive tapes and plastic ropes. The manufacturing facility of the Company is situated at Khopoli and its registered office is situated in Andheri (West), Mumbai. The Company exports its products through its associate companies. The Company also gets some part of the manufacturing done from its associate companies on job work basis.
OPERATIONS:
During the year, the income from operations of the Company has been increased from Rs. 502.417 Millions to Rs.583.528 Millions. The Operating Profit i.e. Profit before Interest, Depreciation and Tax has been registered at Rs. 24.900 Millions as against Rs. 21.012 Millions of the previous year. The net profit has been registered at Rs.5.169 Millions as against Rs. 5.377 Millions of the previous year
MANAGEMENT DISCUSSION
AND ANALYSIS
OUTLOOK
The Company is proactively responding to the changing business environment and is confident of sustaining its market share by improving competitive position in the market. The overall business outlook for the Company is promising with improvement in overall economic environment. Efforts towards higher operational efficiencies shall continue. The Company continues to examine the possibilities of expansion and will make the necessary investments when attractive opportunities arise.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Deferred payment liabilities (Refer Point 1) |
1.542 |
2.934 |
|
Long term borrowings from related parties |
0.000 |
0.515 |
|
Total |
1.542 |
3.449 |
|
Points: 1. Represents 12 years of interest free sales tax deferment payment loan received from the Government of Maharashtra. Repayment has commenced in the financial year 2005 - 2006. The Company has not defaulted on any payment. Repayment is made on the basis of schedule obtained. The amount repayable within one year is Rs 1.392 Millions. |
||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10343818 |
03/03/2012 * |
43,000,000.00 |
STATE BANK OF INDIA |
MIDC, ANDHERI (EAST) BRANCH, PLOT NO B-1, CENTRAL ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA |
B36123412 |
|
2 |
80009386 |
08/02/2013 * |
231,400,000.00 |
STATE BANK OF INDIA |
MIDC, ANDHERI (EAST) BRANCH, PLOT NO B-1, CENTRAL ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA |
B71094015 |
|
3 |
80009385 |
09/01/1995 |
25,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069, INDIA |
- |
|
4 |
80009388 |
09/01/1995 |
25,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069, INDIA |
- |
* Date of charge modification
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER AND 3 MONTHS
ENDED 30/06/2013
Rs. in Millions
|
Particulars |
3 months ended 30/06/2013 |
|
|
Unaudited |
|
1 Income from
Operations |
|
|
(a) Net Sales / Income from Operations (Net of Excise Duty) |
127.487 |
|
(b) Other Operating Income |
1.350 |
|
Total Income from
operations (Net) |
128.837 |
|
2 Expenses |
|
|
a. Cost of materials consumed |
111.886 |
|
b. Purchases of stock in trade |
|
|
c. Changes in inventories of finished goods, work in progress and stock in trade |
(2.219) |
|
d. Employees benefit expense |
0.885 |
|
e. Depreciation and amortisation expense |
0.769 |
|
f. Other expenses (any item exceeding 10% of the total expenses relating to continuing operations to be shown separately). |
10.424 |
|
Total Expenses |
121.745 |
|
3 Profit from
Operations before Other Income, Finance costs & Exceptional Items (1-2) |
7.092 |
|
4 Other Income |
|
|
5 Profit from
ordinary activities before Finance cost & Exceptional Items (3+4) |
7.092 |
|
6 Finance Costs |
4.517 |
|
7 Profit from ordinary
activities after Finance Costs but before Exceptional Items(5+ 6) |
2.575 |
|
8 Exceptional items |
|
|
9 Profit from
Ordinary Activities before Tax (7+8) |
2.575 |
|
10 Tax expense |
0.000 |
|
11 Net Profit from
Ordinary Activities after tax (9-10) |
2.575 |
|
12 Extraordinary Item (Net of tax expense Rs. Millions ) |
|
|
13 Net profit for
the period (11+12) |
2.575 |
|
14 Share of Profit of associates |
- |
|
15 Minority Interest |
- |
|
16 Net Profit after
taxes, minority interest and share of profit of associates (13+14+15) |
2.575 |
|
17 Paid -up equity share capital (Face value of the share Rs. 10) |
60.610 |
|
18 Reserve excluding Revaluation Reserve as per balance sheet of previous accounting year |
|
|
19 (i) Earnings per share (EPS) before
extraordinary items (of Rs 10 each) (not annualised): |
|
|
a) Basic |
0.42 |
|
b) Diluted |
|
|
19 (ii) Earnings
per share (EPS) after extraordinary items (of Rs 10 each) (not annualised): |
|
|
a) Basic |
0.42 |
|
b) Diluted |
|
|
|
|
|
A PARTICULARS OF
SHAREHOLDING |
|
|
1 Public
Shareholding |
|
|
- Number of shares |
2260100 |
|
- Percentage of Shareholding |
37.29% |
|
2 Promoters and
promoter group Shareholding ** |
|
|
a)
Pledged/Encumbered |
|
|
- Number of shares |
Nil |
|
- Percentage of shares (as a % of total shareholding of promoter and promoter group) |
|
|
- Percentage of shares (as a % of total share capital of the company) |
|
|
|
|
|
b) Non-Encumbered |
|
|
- Number of shares |
3800900 |
|
- Percentage of shares (as a % of total shareholding of promoter and promoter group) |
100% |
|
- Percentage of shares (as a % of total share capital of the company) |
62.71% |
|
|
|
|
B Investor
Complaints |
|
|
Pending at the beginning of the quarter |
NIL |
|
Received during the quarter |
NIL |
|
Disposed during the quarter |
NIL |
|
Remaining unresolved at the end of the quarter |
NIL |
Notes:
1) The above Quarterly Results (Provisional) have been
reviewed by the Audit Committee and taken on
record by the Board of Directors at its meeting held on Monday, 12 August 2013.
2) In the opinion of the Board of Directors, there is only
one Major segment, hence, no separate segments
are reported as prescribed under AS - 17, "Segment Reporting".
3) The quarterly result for the quarter ended 30.06.2013 has been reviewed by the Statutory Auditors of the company.
4) As intimated by the Company's Registrars, the investors
complaints pending as on 30.06.2013 and as at 31.03.2013 were Nil.
FIXED ASSETS
- Land
- Factory Building
- Office Premises
- Plant and Equipment
- Electrical Installation
- Lab Equipments
- Motor Vehicle
- Motor Cycle
- Bicycle
- Air-conditioner
- Computer
- Generating Set
- Office Equipment
- Furniture and Fixture
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 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.62.66 |
|
|
1 |
Rs.100.46 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
33 |
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.