MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	ARCOY INDUSTRIES (INDIA) PRIVATE LIMITED
Country :	India
Financials (as on) :	31.03.2013
TAN No.: [Tax Deduction & Collection Account No.]	AHMA01157C
PAN No.: [Permanent Account No.]	AABCA2785J
Legal Form :	Private Limited Liability Company
No. of Employees :	Not Divulged

BUSINESS DETAILS

Line of Business :	Manufacturer and Exporter of Chemical, Copper Plants, Dyes and Intermediates, Pulp and Paper etc.
Exports :
Products :	¨ Chemical ¨ Copper Plants
Countries :	¨ Gulf Countries
Imports :
Products :	Raw Material
Countries :	¨ China ¨ Netherland
Terms :
Selling :	Cash and Credit
Purchasing :	Cash and Credit

GENERAL INFORMATION

No. of Employees :

Not Divulged

Bankers :

¨ The Kalupur Comm. Co-Operative Bank Limited Kalupur Bhavan, Near Income Tax, Ahmedabad - 380009, Gujarat, India

¨ State Bank Of India - Lead Bank Mid Corporate Group, Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara - 390007, Gujarat, India

¨ The Karur Vysya Bank Limited, Motilal Centre, Ashram Road, Ahmedabad – 380009, Gujarat, India

¨ Nutan Nagarik Sahakari Bank Limited, Central Office, Near Samarthewshwar Mahadev, Law Garden, Ellisbridge, Ahmedabad – 380006, Gujarat, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
LONG TERM BORROWINGS
From Bank
Term loan	5.051	9.079
Vehicle Loan	0.000	1.218
SHORT TERM BORROWINGS
Working capital loans	250.985	284.853
Total	256.036	295.150

UNSECURED LOANS

PARTICULAR	31.03.2013 (Rs. In Millions)	31.03.2012 (Rs. In Millions)
SHORT TERM BORROWINGS
Inter corporate deposits	4.169	20.745
From shareholders, directors and their relatives	62.296	47.185
Total	66.465	67.930

Banking Relations :
Auditors :
Name :	G. K Choksi and Company Chartered Accountants
Address :	Madhuban, Near Madalpur Underbridge, Ellisbridge, Ahmedabad – 380006, Gujarat, India
Tel. No. :	91-79-30012009
Mobile No. :	91-9925174555 - 56
Fax No. :	91-79-26569929
E-Mail :	info@gkcco.com
Enterprises over which key managerial personnel and their relatives exercise significant influence :	¨ Venketeshwar Corporation ¨ Arcoy India Private Limited (Formerly known as Arcoy Services Private Limited) ¨ Ambalal Ranchoddas Choksi Private Limited ¨ Pratishtah Estate Dev. Private Limited ¨ Coex Packaging (I) Private Limited ¨ Orbit Enterprise ¨ Tirupati Corporation ¨ Sapphire Agency ¨ Orion Appliances Private Limited ¨ Arcoy Biorefinery Private Limited

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2013

Names of Shareholders	No. of Shares
Harinbhai Ambalal Choksi	9282
Shreedeviben Harinbhai Choksi	9500
Adityabhai Harinbhai Choksi	9500
Yaminiben Adityabhai Choksl	9090
Vandanaben Dineshbhai Choksi	9500
Monalbhai Dineshbhai Choksi	9500
Beenaben Monalbhai Choksi	9090
Haribhai A Choksl HUF	9495
Pranjaliben Anandbhai Shah	9444
Dineshbhai A. Choksi HUF	9500
Arcoy Services Private Limited	4000
Asmitaben Himanshubhai Patel	10
Kantaben Kanaiyalal Patel	10
Monika Himanshu Patel	10
Padmakant Kanaiyalal Shah	10
Aditiben Harin Choksi	49
Himanshubhai K Shah	10
Total	98000

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	9.800	9.800	5.500
(b) Reserves & Surplus	287.789	288.214	36.396
(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)	297.589	298.014	41.896
(3) Non-Current Liabilities
(a) long-term borrowings	5.051	10.297	15.403
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	5.051	10.297	15.403
(4) Current Liabilities
(a) Short term borrowings	317.450	352.783	312.105
(b) Trade payables	94.816	61.493	63.902
(c) Other current liabilities	32.047	40.512	62.977
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	444.313	454.788	438.984
TOTAL	746.953	763.099	496.283
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	227.191	228.073	21.453
(ii) Intangible Assets	0.021	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	67.719	67.723	67.723
(c) Deferred tax assets (net)	0.912	0.376	0.029
(d) Long-term Loan and Advances	1.133	1.755	1.946
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	296.976	297.927	91.151
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	52.023	70.564	76.400
(c) Trade receivables	155.381	152.671	110.428
(d) Cash and cash equivalents	22.843	20.691	23.482
(e) Short-term loans and advances	211.375	191.745	192.385
(f) Other current assets	8.355	29.501	2.437
Total Current Assets	449.977	465.172	405.132
TOTAL	746.953	763.099	496.283

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	508.966	302.501	283.388
		Other Income	18.152	14.053	12.322
		TOTAL	527.118	316.554	295.710
Less	EXPENSES
		Cost of material consumed	162.893	96.535	66.930
		Other operating expenses	134.646	125.643	127.410
		Purchase of stock in trade	49.740	32.267	39.592
		Changes in inventories	17.613	(43.091)	(37.721)
		Employee benefit expenses	24.034	19.969	18.868
		Other expenses	87.273	25.672	37.159
		TOTAL	476.199	256.995	252.238
	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION		50.919	59.559	43.472
Less	FINANCIAL EXPENSES		45.298	52.256	32.238
	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION		5.621	7.303	11.234
Less/ Add	DEPRECIATION/ AMORTISATION		3.890	4.482	5.429
	PROFIT/ (LOSS) BEFORE TAX		1.731	2.821	5.805
Less	TAX		1.265	2.054	3.035
	PROFIT/ (LOSS) AFTER TAX		0.466	0.767	2.770
	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		36.933	36.166	33.396
	BALANCE CARRIED TO THE B/S		37.473	36.933	36.166
	EARNINGS IN FOREIGN CURRENCY
		Export of Goods (FOB Basis)	293.810	67.689	136.934
	TOTAL EARNINGS		293.810	67.689	136.934
	IMPORTS
		Raw Materials	14.928	Nil	3.203
	TOTAL IMPORTS		14.928	Nil	3.203
	Earnings / (Loss) Per Share (Rs.)		4.75	7.83	50.37

RATING & COMMENTS

MIRA’s Rating :

B (34)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear

RBI DEFAULTERS LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered / Head Office :	606, Abhijit Buildings, Mithakhali Six Road, Ahmedabad – 380006, Gujarat, India
Tel. No. :	91-79-40275300 / 26425300
Fax No. :	91-79-40273324 / 26561331
E-Mail :	jindagi@gkcco.com arcoy@arcoy.com contact@arcoy.com
Website :	www.arcoy.com
Factory :	44/45, Phase-I, GIDC, Vatva, Ahmedabad, Gujarat, India

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