MIRA
INFORM REPORT
|
Report Date : |
01.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
SAVITA OIL TECHNOLOGIES LIMITED (w.e.f.24.08.2009) |
|
|
|
|
Formerly Known
As : |
SAVITA CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
66/67, Nariman Bhavan, Nariman
Point, Mumbai – 400021, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
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Date of
Incorporation : |
19.07.1961 |
|
|
|
|
Com. Reg. No.: |
11-012066 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 146.056 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24100MH1961PLC012066 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS37352A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS7934A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
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Line of Business
: |
Manufacturer and Distributer of varied range of
Petrochemicals. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 22000000 |
|
|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track record. The rating reflects healthy financial risk profile marked by strong
liquidity position and decent profitability of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and condition. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank Goldman
Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1 million
Indian tourists in 2012), Thailand (one million), the United Arab Emirates
().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : “AA” |
|
Rating Explanation |
High credit quality and low credit risk |
|
Date |
26.05.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : “A1+” |
|
Rating Explanation |
High credit quality and lowest credit risk. |
|
Date |
26.05.2014 |
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 CO-OPERATIVE (91-22-2288306)
LOCATIONS
|
Registered Office : |
66/67, Nariman Bhavan, Nariman Point,
Mumbai – 400021, Maharashtra, India |
|
Tel. No. : |
91-22-66246200 / 66246228 |
|
Fax No. : |
91-22-22029364 |
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E-Mail : |
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|
Website : |
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|
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Factory 1 : |
17/17A, Thane Belapur Road, Turbhe, Navi Mumbai – 400703, Maharashtra,
India |
|
Tel. No. : |
91- 22-27681521 / 67683500 |
|
Fax No. : |
91- 22-27682024 |
|
|
|
|
Factory 2 : |
Survey No. 10/2, Kharadpada, Post Naroli, Silvassa – 396230, Dadra and Nagar Haveli, India |
|
Tel. No. : |
91- 260-3204003 |
|
Fax No. : |
91- 260-2650182 |
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|
|
|
Factory 3 : |
A-2/1 and 2/2, MIDC Industrial Estate, Mahad, District –
Raigad 402 301 Maharashtra, India |
|
Tel. No. : |
91-2145-232020 / 2320312145-232020 / 232031 |
|
Fax No. : |
91-2145-232236 |
|
|
|
Branch Offices:
|
Located At: · New Delhi · Bhopal · Kolkata · Secunderabad |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Gautam N. Mehra |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
51 Years |
|
Qualification : |
B.E. (Chem), M.B.A., Univ. of California (Berkeley) |
|
Experience : |
30 Years |
|
Date of Appointment : |
01.12.1983 |
|
|
|
|
Name : |
Mr. C. V. Alexander |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
29.5.1935 |
|
Qualification : |
M.A., LL.B. |
|
Experience : |
Over 49 years in service |
|
Other Directorship
: |
· Savita Polymers Limited Kurla
Investment and Trading Company Private Limited |
|
|
|
|
Name : |
Mr. N. B. Karpe |
|
Designation : |
Director |
|
Date of Birth/Age : |
04.03.1961 |
|
Qualification : |
B. Com., LL.B. (Gen.)., F. C. A. |
|
|
|
|
Name : |
Mr. S. R. Pandit |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.09.1957 |
|
Qualification : |
B. Com., F. C. A. |
|
|
|
|
Name : |
Mr. H. A. Nagpal |
|
Designation : |
Director |
|
Date of Birth/Age : |
02.11.1961 |
|
Qualification : |
B.E., M.B.A. |
|
Experience : |
Over 28 years in service |
|
Other Directorship
: |
· Tata Sky Limited OnMobile
Global Limited Vox
Mobili, France OnMobile
SA, France OnMobile
Global for Tele-communication Services, Egypt |
KEY EXECUTIVES
|
Name : |
Mr. S. M. Dixit |
|
Designation : |
Group Chief Financial Officer |
|
|
|
|
Name : |
Mr. U. C. Rege |
|
Designation : |
Company Secretary
& Executive VP – Legal |
SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
Total No. of
Shares |
% of Total No.
of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
9582487 |
65.62 |
|
|
867895 |
5.94 |
|
|
10450382 |
71.57 |
|
|
|
|
|
|
583 |
0.00 |
|
|
583 |
0.00 |
|
Total shareholding of Promoter and Promoter Group (A) |
10450965 |
71.57 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1393154 |
9.54 |
|
|
499 |
0.00 |
|
|
694332 |
4.76 |
|
|
2087985 |
14.30 |
|
|
|
|
|
|
272800 |
1.87 |
|
|
|
|
|
|
1416711 |
9.70 |
|
|
372456 |
2.55 |
|
|
1166 |
0.01 |
|
|
1166 |
0.01 |
|
|
2063133 |
14.13 |
|
Total Public shareholding (B) |
4151118 |
28.43 |
|
Total (A)+(B) |
14602083 |
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) |
14602083 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Distributer of varied range of
Petrochemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
||||||||||||||||||||
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Bankers : |
· State Bank of India ·
Corporation Bank ·
DBS Bank Limited ·
ICICI Bank Limited ·
IDBI Bank Limited ·
Standard Chartered Bank ·
Union Bank of India |
||||||||||||||||||||
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|
||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G. M. Kapadia and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Enterprises where key management
personnel or relatives of key management personnel have control or
significant influence: |
· Basant Lok Trading Company ·
Chemi Pharmex Private Limited ·
D.C.Mehra Public Charitable Trust ·
Khatri Investments Private Limited ·
Kurla Investment and Trading Company Private Limited ·
Madhu Trust ·
Mansukhmal Investment Private Limited ·
Mehra Syndicate N. K. Mehra Trust ·
Naved Investment and Trading Company Private Limited ·
NKM Grand Children’s Trust ·
Savita Petro-Additives Limited ·
Savita Polymers Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued Capital : Rs.146.056 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14609183 |
Equity Shares |
Rs.10/- each |
Rs. 146.092 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14602083 |
Equity Shares |
Rs.10/- each |
Rs. 146.021 Millions |
|
7100 |
Add: Forfeited Shares |
|
Rs. 0.035 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 146.056
Millions |
NOTE:
a) Reconciliation of
number of shares
|
Particulars |
As at 31.03.2013 |
|
|
Nos. |
Rs. In millions |
|
|
At the beginning of the year |
1,46,02,083 |
146.021 |
|
Issued during the year |
-- |
-- |
|
Outstanding at the end of the year |
1,46,02,083 |
146.021 |
b) Rights,
preferences and restrictions attached to equity shares (except forfeited
shares)
The Company has only one class of equity shares having par value of ` 10 each. Each holder of equity shares is entitled to one vote per share. There are no restrictions on the distribution of dividend or repayment of capital. The Company declares dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting, except in case of interim dividend. 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.
c) Details of
shareholder holding more than 5% of equity shares
|
Particulars |
As at 31.03.2013 |
|
|
Nos. |
% of holding |
|
|
Gautam N. Mehra |
88,86,743 |
60.86 |
|
HDFC Trustees Company Limited |
13,29,732 |
9.11 |
d) Forfeited equity
shares
|
Particulars |
As at 31.03.2013 |
|
Nos. |
|
|
No. of Shares forfeited |
7,100 |
|
Amount of share capital forfeited (Rs. In millions) |
0.035 |
|
Amount of share premium forfeited (Rs. In millions) |
0.249 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
146.056 |
146.056 |
146.056 |
|
(b) Reserves & Surplus |
5563.917 |
4965.521 |
4231.274 |
|
(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) |
5709.973 |
5111.577 |
4377.330 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
582.779 |
526.389 |
459.463 |
|
(b) Deferred tax liabilities (Net) |
329.156 |
345.172 |
184.432 |
|
(c) Other long term liabilities |
46.571 |
37.005 |
34.131 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
958.506 |
908.566 |
678.026 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
151.849 |
57.162 |
0.000 |
|
(b) Trade payables |
7375.182 |
4288.496 |
5591.892 |
|
(c) Other current
liabilities |
669.937 |
552.535 |
906.095 |
|
(d) Short-term provisions |
486.818 |
376.439 |
392.734 |
|
Total Current Liabilities (4) |
8683.786 |
5274.632 |
6890.721 |
|
|
|
|
|
|
TOTAL |
15352.265 |
11294.775 |
11946.077 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2858.125 |
2108.088 |
2071.002 |
|
(ii) Intangible Assets |
9.969 |
3.308 |
2.047 |
|
(iii) Capital
work-in-progress |
49.831 |
214.558 |
16.619 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
20.101 |
107.310 |
61.504 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
150.085 |
178.029 |
136.160 |
|
(e) Other Non-current assets |
22.655 |
3.861 |
3.259 |
|
(f) Trade Receivables |
2.404 |
37.715 |
31.483 |
|
Total Non-Current Assets |
3113.170 |
2652.869 |
2322.074 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
102.105 |
216.705 |
166.211 |
|
(b) Inventories |
6226.230 |
3207.234 |
4341.256 |
|
(c) Trade receivables |
5284.454 |
4503.482 |
4402.783 |
|
(d) Cash and cash
equivalents |
200.399 |
295.738 |
291.139 |
|
(e) Short-term loans and
advances |
425.695 |
418.217 |
422.525 |
|
(f) Other current assets |
0.212 |
0.530 |
0.089 |
|
Total Current Assets |
12239.095 |
8641.906 |
9624.003 |
|
|
|
|
|
|
TOTAL |
15352.265 |
11294.775 |
11946.077 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
20807.896 |
19990.456 |
19105.230 |
|
|
|
Other Income |
88.863 |
134.340 |
108.414 |
|
|
|
TOTAL (A) |
20896.759 |
20124.796 |
19213.644 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
16873.541 |
16214.833 |
15404.420 |
|
|
|
Purchase of Traded Goods |
248.946 |
140.868 |
202.425 |
|
|
|
Employee Benefits Expense |
315.985 |
284.435 |
245.189 |
|
|
|
Other Expenses |
2027.426 |
2197.937 |
2307.616 |
|
|
|
Exceptional Income |
(579.065) |
(565.028) |
0.000 |
|
|
|
(Increase)/Decrease in Inventories |
(186.144) |
(9.861) |
(328.074) |
|
|
|
Loss/(Gain) on foreign currency transaction |
437.102 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
19137.791 |
18263.184 |
17831.576 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
1758.968 |
1861.612 |
1382.068 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
132.869 |
104.740 |
127.499 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1626.099 |
1756.872 |
1254.569 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
299.755 |
251.421 |
252.050 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
1326.344 |
1505.451 |
1002.519 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
428.984 |
472.240 |
322.216 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
897.360 |
1033.211 |
680.303 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3534.774 |
2905.527 |
2548.787 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
|
255.536 |
219.031 |
|
|
|
Tax on Dividend |
|
43.428 |
35.532 |
|
|
|
Transfer to General Reserve |
|
105.000 |
69.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
3534.774 |
2905.527 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales (FOB value) |
|
3425.711 |
3118.805 |
|
|
|
Freight and insurance |
|
122.463 |
96.617 |
|
|
|
Claims received and commission earned |
|
3.956 |
0.000 |
|
|
|
Carbon Credit |
|
0.000 |
19.913 |
|
|
TOTAL EARNINGS |
NA |
3552.130 |
3235.335 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
11674.376 |
13040.563 |
|
|
|
Capital goods |
|
4.275 |
4.232 |
|
|
TOTAL IMPORTS |
NA |
11678.651 |
13044.795 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
61.45 |
70.76 |
46.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
4.29 |
5.13 |
3.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.37 |
7.53 |
5.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.68 |
13.77 |
8.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.29 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13 |
0.11 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.64 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
146.056 |
146.056 |
146.056 |
|
Reserves & Surplus |
4231.274 |
4965.521 |
5563.917 |
|
Net
worth |
4377.330 |
5111.577 |
5709.973 |
|
|
|
|
|
|
long-term borrowings |
459.463 |
526.389 |
582.779 |
|
Short term borrowings |
0.000 |
57.162 |
151.849 |
|
Total
borrowings |
459.463 |
583.551 |
734.628 |
|
Debt/Equity
ratio |
0.105 |
0.114 |
0.129 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
19,105.230 |
19,990.456 |
20,807.896 |
|
|
|
4.633 |
4.089 |
NET PROFIT MARGIN
|
Net Profit
Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
19,105.230 |
19,990.456 |
20,807.896 |
|
Profit |
680.303 |
1,033.211 |
897.360 |
|
|
3.56% |
5.17% |
4.31% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
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 |
Yes |
UNCESURED LOAN:
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
Deferred Payment
Liability - Unsecured |
|
|
Sales Tax Deferment |
133.988 |
|
|
|
|
Total |
133.988 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
|
a) Letters of Credit |
242.908 |
|
b) Guarantees/Bonds |
224.295 |
|
c) Corporate guarantee * |
0.000 |
|
d) Disputed demands |
|
|
i) Excise and Customs |
192.124 |
|
ii) Sales Tax |
136.406 |
|
iii) Income Tax |
78.402 |
|
iv) Others |
14.914 |
* Represents corporate guarantee given to banks for credit facilities of Savita Polymers Limited
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE,
2014
(Rs. In millions)
|
Particulars |
Quarter Ended 30.06.2014 |
|
|
|
|
Net Sales / Income from Operations |
4856.135 |
|
Other Operating Income |
47.451 |
|
Total Income |
4903.586 |
|
Expenditure |
|
|
a) Cost of Materials consumed |
3877.777 |
|
b) Purchase of Traded Goods |
143.077 |
|
c) Changes in inventories of Finished goods,
Traded goods |
137.936 |
|
d) Employee benefits expense |
84.771 |
|
e) Depreciation and amortisation expense |
86.146 |
|
f) Exchange gain / loss |
60.499 |
|
g) Other Expenditure |
419.102 |
|
Total Expenditure |
4809.308 |
|
Profit from Operations
before Other Income, Interest & Finance Charges |
94.278 |
|
Other Income |
11.028 |
|
Profit from Operations
before Interest & Finance Charges |
105.306 |
|
Finance Charges |
30.136 |
|
Profit / (Loss) from
Ordinary Activities after financial costs but before exceptional item |
75.170 |
|
Exceptional Item |
-- |
|
Profit / (Loss) from
Ordinary Activities Before Tax |
75.170 |
|
Tax Expense |
12.056 |
|
Net Profit / (loss) for
the period |
63.114 |
|
Paid up Equity Share
Capital (Face value of share of Rs. 10/- each) |
146.021 |
|
Reserves excluding
Revaluation Reserve |
|
|
Earnings per share EPS - (Basic and Diluted) |
4.32 |
|
|
|
|
PART II |
|
|
PARTICULARS OF SHAREHOLDING |
|
|
Public Shareholding |
|
|
- Number of shares |
4151118 |
|
- Percentage of Shareholding Promoters and
promoter group Shareholding |
28.43 |
|
a) Pledged / Encumbered |
|
|
- Number of shares |
-- |
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter group) |
-- |
|
- Percentage of shares (as a% of the total share
capital of the company) |
-- |
|
b) Non-encumbered |
|
|
- Number of shares |
10450965 |
|
- Percentage of shares (as a % of the total
shareholding of promoter and promoter group) |
100.00 |
|
- Percentage of shares (as a% of the total share
capital of the company) |
71.57 |
|
|
|
|
INVESTOR COMPLAINTS
(NOS.) |
30.06.2014 |
|
Pending at the beginning of the quarter |
-- |
|
Received during the quarter |
1 |
|
Disposed of during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
-- |
|
|
|
|
SEGMENT REVENUES |
|
|
Petroleum Products |
4805.890 |
|
Wind Power |
107.870 |
|
Other Unallocated |
0.854 |
|
Net Sales / Income from Operations |
4914.614 |
|
Segment Results |
|
|
Profit before taxation and Finance Costs for each segment |
|
|
Petroleum Products |
86.730 |
|
Wind Power |
51.291 |
|
TOTAL |
138.021 |
|
Less: i) Finance Costs |
30.136 |
|
ii) Other un-allocable expenditure Net off un-allocable revenue |
32.715 |
|
Total Profit
before tax |
75.170 |
|
Capital Employed
: (Segment Assets- Segment Liabilities) |
|
|
Petroleum Products |
5222.037 |
|
Wind Power |
906.218 |
|
Other Unallocated |
(360.540) |
|
TOTAL |
5767.715 |
FIXED ASSETS
Ř
Tangible
Assets
Freehold
Land
Leasehold
Land
Buildings
Wind
Power Plants
Plant
& Equipment
Furniture
and Fixtures
Office
Equipments
Vehicles
Ř
Intangible Assets
Computer
Software
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.60.25 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.