MIRA
INFORM REPORT
|
Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT FOILS LIMITED |
|
|
|
|
Registered
Office : |
Plot No.3436-3449, Chhatral, G.I.D.C., Phase – IV, Taluka-Kalol, District
– Gandhinagar – 382729, |
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.11.1992 |
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|
Com. Reg. No.: |
04-018570 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.332.018 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28999GJ1992PLC018570 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG00263E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of
Aluminium Sheet, Foils (Bare, Coated or Laminated and Printed), Strips, Containers
for Food, Pharmaceuticals and Packaging Applications. |
|
|
|
|
No. of Employees
: |
468 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
|
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Litigation : |
Exist |
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|
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|
Comments : |
Subject is an established
company having moderate track record. General financial
position of the company seems to ne sound and healthy. Profitability of the
company is fair. Trade relations
are fair. Business is active. Payment terms are reported to be usually correct.
The company can be
considered for business dealings at usual trade terms and conditions. |
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991. Real
estate outperformed every other asset classes during the 23-year period with an
annualized return of 20 % ! Equities came in second with annualized return of
15.5 % ! However, while these returns may seem mouthwatering, the fact is that
the return from equities adjusted for inflation came down to just 7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit
risk |
|
Date |
19.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
19.03.2014 |
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
31-03-2014.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Karthik Mudaliyar |
|
Designation : |
Manager |
|
Contact No.: |
91-9033947139 |
|
Date : |
12.08.2014 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.3436-3449, Chhatral, G.I.D.C., Phase – IV, Taluka-Kalol,
District – Gandhinagar – 382729, Gujarat, India |
|
Tel. No.: |
91-2712-233656/ 233657 |
|
Mobile No.: |
91-9033947139 (Mr. Karthik Mudaliyar) |
|
Fax No.: |
91-2712-233657/ 58 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Corporate Office : |
106, 16th Floor Indiabulls Finance Center Tower
-3, Senapati Bapat Marg, Elphistione Road (West), Mumbai – 400013, Maharashtra,
India |
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|
|
|
Sales and other
Enquiries/ Ahmedabad Office : |
309, “Akashrath”, Opposite National Handloom corporation, Off C. G. Road, Law Garden, Ahmedabad – 380006, Gujarat, India |
|
Tel. No.: |
91-79-40073727 |
|
Fax No.: |
91-79-40073728 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Abhay Lodha |
|
Designation : |
Executive, Chairman and Managing Director |
|
Address : |
603, Vaitarna, |
|
Date of Birth / Age : |
01.06.1971 |
|
Date of Appointment : |
14.07.2008 |
|
|
|
|
Name : |
Mr. Satish Chander Gupta |
|
Designation : |
Non-Executive, Independent Director |
|
Address : |
A – 1/135, Inder Puri, New Delhi – 110012, India |
|
Date of Birth / Age : |
05.05.1947 |
|
Date of Appointment : |
31.01.2009 |
|
|
|
|
Name : |
Mr. Prasenjit P. Datta |
|
Designation : |
Executive, Whole Time Director |
|
|
|
|
Name : |
Mr. Kanchan Murarka |
|
Designation : |
Non-Executive, Non-Independent Director |
|
Date of Birth / Age : |
06.01.1966 |
|
Qualification : |
C.A., C.S., ICWA, B.Com |
|
Date of Appointment : |
16.05.2011 |
|
|
|
|
Name : |
Mr. Surender Kumar Tuteja |
|
Designation : |
Non-Executive, Independent Director |
|
Date of Birth / Age : |
15.06.1945 |
|
Qualification : |
I.A.S., M.COM., F.C.S. |
|
Date of Appointment : |
11.04.2012 |
|
|
|
|
Name : |
Mr. Rahul B. Chhajed |
|
Designation : |
Non-Executive, Independent Director |
|
Date of Birth / Age : |
08.01.1972 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
10.07.2012 |
|
|
|
|
Name : |
Mr. Viresh Mathur |
|
Designation : |
Non-Executive, Independent Director |
|
Date of Birth / Age : |
09.04.1946 |
|
Qualification : |
M.A., Fiscal Studies (Diploma) from University of Bath (U.K.) |
|
Date of Appointment : |
14.08.2012 |
|
|
|
|
Name : |
Mr. Sanjiv Goel |
|
Designation : |
Non-Executive, Non-Independent Director |
|
Date of Birth / Age : |
27.02.1958 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
14.08.2012 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Kumar Gupta |
|
Designation : |
Company Secretary and Compliance Officer |
|
|
|
|
Name : |
Mr. Karthik Mudaliyar |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4041201 |
49.27 |
|
|
792876 |
9.67 |
|
|
4834077 |
58.94 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
4834077 |
58.94 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
760468 |
9.27 |
|
|
|
|
|
|
813766 |
9.92 |
|
|
1558977 |
19.01 |
|
|
234522 |
2.86 |
|
|
223454 |
2.72 |
|
|
11068 |
0.13 |
|
|
3367733 |
41.06 |
|
Total Public shareholding (B) |
3367733 |
41.06 |
|
Total (A)+(B) |
8201810 |
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) |
8201810 |
0.00 |
|
|
|
|
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
|
|
Total (A)+(B)+(C) |
8201810 |
100.00 |
Shareholding
belonging to the category "Promoter and Promoter Group
|
Sl.No. |
Name of the
Shareholder |
Details of Shares
held |
Encumbered shares
(*) |
|||
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
No |
As a percentage |
As a % of |
|
1 |
Akshata Realtors Private Limited |
7,92,876 |
9.67 |
0 |
0.00 |
0.00 |
|
2 |
Abhay Narendra Lodha |
30,47,104 |
37.15 |
1034000 |
33.93 |
12.61 |
|
3 |
Ashwin Narendra Lodha |
7,03,959 |
8.58 |
180000 |
25.57 |
2.19 |
|
4 |
Sheela Abhay Lodha |
94,388 |
1.15 |
0 |
0.00 |
0.00 |
|
5 |
Prasanna Champalal Lodha |
65,224 |
0.80 |
0 |
0.00 |
0.00 |
|
6 |
Surendra Champalal Lodha |
65,263 |
0.80 |
0 |
0.00 |
0.00 |
|
7 |
Rajesh Kumar Jain |
65,263 |
0.80 |
0 |
0.00 |
0.00 |
|
|
Total |
48,34,077 |
58.94 |
1214000 |
25.11 |
14.80 |
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 |
|
|
|
|
|
|
1 |
Parmod Jain |
1025939 |
12.51 |
|
2 |
Rockdude Financial Services Private Limited |
440607 |
5.37 |
|
3 |
Asuti Trading Private Limited |
99500 |
1.21 |
|
4 |
Atul Dinkerray Raval |
83500 |
1.02 |
|
|
Total |
1649546 |
20.11 |
Shareholding
belonging to the category "Public" and holding more than 5% of the
Total No. of Shares
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
|
|
|
|
|
|
1 |
Parmod Jain |
1025939 |
12.51 |
|
2 |
Rockdude Financial Services Private Limited |
440607 |
5.37 |
|
|
Total |
1466546 |
17.88 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Aluminium Sheet, Foils (Bare, Coated or Laminated and Printed), Strips,
Containers for Food, Pharmaceuticals and Packaging Applications. |
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Products : |
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Exports : |
|
||||||||
|
Products : |
Finish Goods |
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|
Countries : |
· Dubai · Pakistan |
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Terms : |
|
||||||||
|
Selling : |
L/C and Cheque |
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|
|
||||||||
|
Purchasing : |
L/C and Cheque |
GENERAL INFORMATION
|
Customers : |
Retailers LUPIN Sun
Pharmaceutical Industries Limited AUROBINDO Cadila
Pharmaceuticals Limited MAXHEAL Ayrton Drug ISEAL HITACHI Positive
Packaging |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
468 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India Backbay Reclamation Branch, Raheja Chambers, Free Press Journal Marg, Nariman
Point, Mumbai-400021, Maharashtra, India ·
Allahabad Bank Industrial Finance Branch, Parliament Street, New Delhi, India ·
Oriental Bank of Commerce Mumbai Overseas Branch, Nariman Point, Mumbai, Maharashtra, India ·
Dena Bank Corporate Business Branch, Bandra-Kurla Complex, Bandra – East,
Mumbai, Maharashtra, India · Union Bank of India · Bank of India · IDBI Bank |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H. R. Agarwal and Associates Chartered Accountants |
|
Address : |
219-C, Old China Bazar Street, 1st Floor, Room No. B-6,
Kolkata, West Bengal, India |
|
Tel. No. |
91-33-2248-6561 / 30226561 |
|
Fax. No.: |
91-33-22303207 |
|
E Mail. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 332.018 Millions
As on 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8201810 |
Equity Shares |
Rs.10/- each
|
Rs.82.018
Millions |
|
|
|
|
|
(A) Reconciliation of the number of shares outstanding at the beginning and
at the end of the reporting period
|
Particulars |
2012-13 No. of Shares |
|
Shares outstanding at the beginning of the year |
8201810 |
|
Shares outstanding at the end of the year |
8201810 |
(B) Shares in the Company held by each shareholder holding more than 5%
shares in the Company
|
Name of Shareholder |
2012-13 |
|
|
|
No. of Shares |
% of Holding |
|
Abhay Narendra Lodha |
3047104 |
37.15 |
|
Parmod Jain |
1260204 |
15.36 |
|
Akshata Realtors Private Limited |
792876 |
9.67 |
|
Rockdude Financial Services Private Limited |
718013 |
8.75 |
|
Ashwin Narendra Lodha |
703994 |
8.58 |
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 |
332.018 |
82.018 |
82.018 |
|
(b) Reserves & Surplus |
609.503 |
267.444 |
207.080 |
|
(c) Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
433.900 |
433.900 |
|
Total Shareholders’ Funds (1) + (2) |
941.521 |
783.362 |
722.998 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
655.338 |
626.410 |
724.538 |
|
(b) Deferred tax liabilities (Net) |
75.331 |
67.711 |
62.889 |
|
(c) Other long term liabilities |
452.597 |
153.592 |
99.065 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
1183.266 |
847.713 |
886.492 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1053.393 |
1039.350 |
1030.780 |
|
(b) Trade payables |
863.463 |
635.313 |
239.562 |
|
(c) Other current
liabilities |
131.541 |
100.179 |
98.801 |
|
(d) Short-term provisions |
2.534 |
1.010 |
1.858 |
|
Total Current Liabilities (4) |
2050.931 |
1775.852 |
1371.001 |
|
|
|
|
|
|
TOTAL |
4175.718 |
3406.927 |
2980.491 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1444.066 |
1044.796 |
1145.403 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
80.126 |
80.072 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1444.066 |
1124.922 |
1225.475 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1532.718 |
1072.154 |
783.912 |
|
(c) Trade receivables |
1052.028 |
1064.453 |
861.773 |
|
(d) Cash and cash
equivalents |
110.739 |
87.578 |
31.061 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
36.167 |
57.820 |
78.270 |
|
Total Current Assets |
2731.652 |
2282.005 |
1755.016 |
|
|
|
|
|
|
TOTAL |
4175.718 |
3406.927 |
2980.491 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
4299.215 |
3443.319 |
2612.273 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
4299.215 |
3443.319 |
2612.273 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3771.820 |
2832.368 |
2191.703 |
|
|
|
Changes in inventories of finished goods work-in-progress and Stock-in-Trade |
(306.775) |
(120.105) |
(153.418) |
|
|
|
Employee benefits expenses |
111.068 |
81.547 |
33.432 |
|
|
|
Other expenses |
222.082 |
225.734 |
177.890 |
|
|
|
TOTAL (B) |
3798.195 |
3019.545 |
2249.607 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
501.020 |
423.774 |
362.666 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
260.904 |
230.900 |
209.495 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
240.116 |
192.874 |
153.171 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
111.437 |
111.201 |
97.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
128.679 |
81.673 |
55.378 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
36.620 |
21.308 |
32.164 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
92.059 |
60.365 |
23.214 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
169.550 |
109.185 |
85.971 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
261.609 |
169.550 |
109.185 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
69.290 |
87.655 |
|
|
TOTAL EARNINGS |
NA |
69.290 |
87.655 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
|
287.488 |
|
|
|
Capital Goods |
NA |
|
13.147 |
|
|
TOTAL IMPORTS |
NA |
118.220 |
300.635 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.22 |
7.36 |
2.83 |
|
Note:
1. The above financial results have been reviewed by the Audit Committee and approved and taken on record by the Board of Directors in their respective meetings held on May 19, 2014. The Statutory auditors have Audited the above results.
2. The Company operates only in single segment i.e., "Aluminium". There are no separate reportable segment as per Accounting Standard on "Segment Reporting (AS-17)".
3. On March 28, 2014 the Company has issued and allotted 2,50,00,000 fully paid up 10% Non-convertible Non-Cumulative Redeemable Preference Shares of Rs. 10/- each (at a premium of Rs. 10/per share), aggregating Rs 500.000 Millions to Promoters. The proceeds from this issue were fully utilised, for the purpose of working capital and for capital expenditure of the Company.
4. The figures of the quarter ended on March 31, 2014 are the balancing figures between audited figures in respect of the full financial year ended as on March 31, 2014 and the published year to date figures upto the third quarter ended December 31, 2013 of the financial year.
4. The figures of the quarter ended on March 31, 2014 are the balancing figures between audited figures in respect of the full financial year ended as on March 31, 2014 and the published year to date figures upto the third quarter ended December 31, 2013 of the financial year.
5. Figures for previous periods/year have been regrouped/reclassified/recast wherever necessary.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.14 |
1.75
|
0.89 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.99 |
2.37
|
2.12 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.08 |
2.46
|
1.91 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.10
|
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.81 |
2.13
|
2.43 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.29
|
1.28 |
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 |
82.018 |
82.018 |
332.018 |
|
Reserves & Surplus |
207.080 |
267.444 |
609.503 |
|
Share Application money
pending allotment |
433.900 |
433.900 |
0.000 |
|
Net
worth |
722.998 |
783.362 |
941.521 |
|
|
|
|
|
|
long-term borrowings |
724.538 |
626.410 |
655.338 |
|
Short term borrowings |
1030.780 |
1039.350 |
1053.393 |
|
Total
borrowings |
1755.318 |
1665.760 |
1708.731 |
|
Debt/Equity
ratio |
2.428 |
2.126 |
1.815 |
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 |
2612.273 |
3443.319 |
4299.215 |
|
|
|
31.813 |
24.857 |
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 |
2612.273 |
3443.319 |
4299.215 |
|
Profit |
23.214 |
60.365 |
92.059 |
|
|
0.89% |
1.75% |
2.14% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term debt |
NA |
79.805 |
75.417 |
|
|
|
|
|
|
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 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
------------------------------------------------------------------------------------------------------------------------------
HIGH COURT OF GUJARAT
TAX APPEAL No. 916
of 2008
|
Status : PENDING |
( Converted from
: ST/1025/2008 ) |
CCIN No :
001092200800916 |
|
|
|||||
|
|
||||
|
|
||||
|
S.NO. |
Name of the Petitioner |
Advocate On
Record |
|
1 |
THE COMMISSIONER OF INCOME TAX-II |
MRS MAUNA M BHATT for: Appellant(s) |
1|
S.NO. |
Name of the Respondant |
Advocate On Record |
|
1 |
GUJARAT FOILS LIMITED |
RULE UNSERVED for :Opponent(s) |
|
|
|||
|
Presented On |
: 24/03/2008 |
Registered On |
: 24/03/2008 |
|
Bench Category |
: DIVISION BENCH |
District |
: AHMEDABAD |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 124 times |
|
Stage Name |
: FOR FINAL HEARING - TAX MATTERS |
||
|
|
|
|
Act |
|
|
|
|
|
OFFICE DETAILS
|
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on Document |
Document Details |
|
1 |
15/08/2008 |
VAKALATNAMA |
MRS MAUNA M BHATT ADVOCATE |
- |
MRS MAUNA M
BHATT:1 |
|
2 |
15/08/2008 |
DOCUMENT |
RULE UNSERVED |
- |
RULE UNSERVED:1 |
|
3 |
01/12/2008 |
APPEARANCE NOTE |
MRS MAUNA M BHATT ADVOCATE |
- |
MRS MAUNA M
BHATT:1 |
LINKED MATTERS
|
|||||
|
S. No. |
Case Detail |
Status Name |
Disposal Date |
Action/Coram |
|
1 |
TAX APPEAL/917/2008 |
PENDING |
- |
- ·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
2 |
TAX APPEAL/961/2008 |
PENDING |
- |
- ·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
3 |
TAX APPEAL/962/2008 |
PENDING |
- |
- ·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
4 |
TAX APPEAL/963/2008 |
PENDING |
- |
- ·
HONOURABLE THE CHIEF JUSTICE MR. K.S.RADHAKRISHNAN
·
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
5 |
TAX APPEAL/964/2008 |
PENDING |
- |
- ·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
|
6 |
TAX APPEAL/965/2008 |
PENDING |
- |
- ·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
COURT PROCEEDINGS
|
||||
|
S. No. |
Notified Date |
Court Code |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
01/04/2009 |
1 |
- |
FOR FINAL HEARING - TAX MATTERS |
RULE/ADMIT |
·
HONOURABLE THE CHIEF JUSTICE MR.
K.S.RADHAKRISHNAN ·
HONOURABLE MR.JUSTICE AKIL KURESHI |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOAN
|
Particulars |
As on 31.03.2014 [Rs. in Millions] |
As on 31.03.2013 [Rs. in Millions] |
|
Long Term Borrowings
|
|
|
|
Other loans and
advances |
|
|
|
Other than Bank |
NA |
358.126 |
|
|
|
|
|
Total |
NA |
358.126 |
|
NOTE: a) Unsecured
Loans other than bank are free of Interest |
||
INDEX OF CHARGES
|
S. No. |
Charge
ID |
Date
of Charge Creation/ Modification |
Charge
amount secured |
Charge
Holder |
Address |
Service
Request Number (SRN) |
|
1 |
10395459 |
11/12/2012 |
140,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, 37, MUMBAI SAMACHAR MARG, FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B65311078 |
|
2 |
10312834 |
24/09/2011 |
50,000,000.00 |
DENA
BANK |
CORPORATE
BUSINESS BRANCH, C-10, G-BLOCK, BANDRA |
B23446248 |
|
3 |
10299386 |
30/07/2011 |
70,000,000.00 |
IDBI
BANK LIMITED |
INDIAN
RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001,
INDIA |
B17757527 |
|
4 |
10254397 |
08/07/2013
* |
1,750,000,000.00 |
ALLAHABAD
BANK |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, 37, MUMBAI SAMACHAR MARG, FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
B83723361 |
|
5 |
10250353 |
15/02/2012
* |
366,000,000.00 |
BANK
OF INDIA |
AHMEDABAD
MID CORP BR FIRST FLOOR, BOI BUILDING, NR SWASTIK CROSS RD, C. G. ROAD,
NAVRANGPURA, AHME |
B34644328 |
|
6 |
10230714 |
31/01/2012
* |
366,000,000.00 |
BANK
OF INDIA |
AHMEDABAD
MID CORP BR FIRST FLOOR, BOI BUILDING, |
B34643882 |
|
7 |
10219776 |
20/11/2010
* |
240,000,000.00 |
IDBI
Bank Limited |
INDIAN
RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001,
INDIA |
A99507683 |
|
8 |
10217745 |
16/02/2013
* |
310,000,000.00 |
UNION
BANK OF INDIA |
YASHWANT
BHAWAN, PANDURANG BHUDKAR MARG,, LOWER PAREL, MUMBAI, MAHARASHTRA -400013,
INDIA |
B70392048 |
|
9 |
10184139 |
01/06/2011
* |
195,000,000.00 |
STATE
BANK OF INDIA |
BACKBAY
RECLAMATION BRANCH,, RAHEJA CHAMBERS, NAR |
B14537443 |
|
10 |
10164111 |
31/07/2009
* |
100,000,000.00 |
DENA
BANK |
CORPORATE
BUSINESS BRANH, C-10, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI,
MAHARASHTRA - 400051, INDIA |
A68311125 |
|
11 |
10145782 |
31/07/2009
* |
150,000,000.00 |
STATE
BANK OF INDIA |
BACKBAY
RECLAMATION BRANCH, RAHEJA CHAMBERS,, FRE |
A67831362 |
|
12 |
10145771 |
31/07/2009 * |
220,000,000.00 |
DENA BANK |
CORPORATE
BUSINESS BRANCH, GROUND FLOOR,, C-10, G BLOCK, BANDR-KURLA COMPLEX, BANDRA
(E),, MUMBAI, |
A68191444 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Non Factory building
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office equipment
· Computer
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.25 |
|
|
1 |
Rs.103.02 |
|
Euro |
1 |
Rs.81.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.