MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

CREST COMPOSITES AND PLASTICS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

PAN No.:

[Permanent Account No.]

AAACC6333R

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

200 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Polymer Resins.

 

 

Exports :

 

Products :

Polymer Resins

Countries :

·         Middle East

·         Europe

 

 

Imports :

 

Products :

Raw Materials

Countries :

·         China

·         Singapore

·         Europe

·         Thailand

·         Malaysia

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Suppliers :

Atul Limited

 

 

Customers :

Wholesalers, Retailers and End Users

 

·         Akzonobel N.V

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :

·         Small Industries Development Bank of India, Navjivan Amrit Jayanti Bhavan, 1st Floor, Navjivan Post, Ahmedabad - 380009, Gujarat, India

·         Oriental Bank of Commerce, G-2, Samedh, Near Associated Petrol Pump, C. G. Road, Ahmedabad - 380006, Gujarat, India

 

 

Facilities :

Total Rs.200.000 Millions (From Oriental Bank of Commerce)

 

(Rs. In Millions)

Secured Loan

As on

31.03.2013

As on

31.03.2012

LONG-TERM BORROWINGS

 

 

Rupee term loans from banks

40.956

48.249

Other loans and advances

0.799

0.000

SHORT-TERM BORROWINGS

 

 

Loans repayable on demand from banks

66.641

58.799

 

 

 

Total

108.396

107.048

 

 (Rs. In Millions)

Unsecured Loan

As on

31.03.2013

As on

31.03.2012

LONG-TERM BORROWINGS

 

 

Term loans from banks

3.241

1.425

Term loans from others

5.854

5.533

Loans and advances from directors

4.839

9.182

Loans and advances from others

7.108

0.000

 

 

 

'Total

21.042

16.140

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Milind A. Joshi and Associates

Chartered Accountants

Address :

Dharmakook, Rambari, Bhadra, Ahmedabad-380001, Gujarat, India

PAN No.:

AFZPJ0909F

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 10.09.2012

 

Names of Shareholders

 

No. of Shares

Ranjit Sen

 

63098

Ashutosh Vaidya

 

8349

Sunanda Bose

 

11830

Surjit Sen

 

2761

Suhita Sinha

 

328

Sukhendu Dasgupta

 

200

Suparna Sen

 

3940

Ashok Sharma

 

4760

S B Sharma

 

180

V L Gadre

 

1

Supriya Sen

 

5115

R R Gopal

 

7598

Susantkumar Pramanik

 

500

Gayatri Sen

 

590

Ami Udeshi

 

3000

Saraswati Pramanik

 

7000

Benasedo Spa

 

30000

TOTAL

 

149250

 

Equity Share Break up (Percentage of Total Equity)

 

As on: 10.09.2012

 

Category

 

Percentage

 

 

 

Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]

 

20.10

Directors or relatives of directors

 

79.90

Total

 

100.00

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

14.925

14.925

14.775

(b) Reserves & Surplus

95.189

88.282

81.772

(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)

110.114

103.207

96.547

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

62.797

64.389

18.025

(b) Deferred tax liabilities (Net)

6.666

6.465

4.059

(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)

69.463

70.854

22.084

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

66.641

58.799

47.270

(b) Trade payables

262.289

205.297

150.272

(c) Other current liabilities

48.834

28.019

6.564

(d) Short-term provisions

8.383

5.945

4.273

Total Current Liabilities (4)

386.147

298.060

208.379

 

 

 

 

TOTAL

565.724

472.121

327.010

 

 

 

 

ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

121.940

114.495

42.169

(ii) Intangible Assets

13.556

20.071

28.050

(iii) Capital work-in-progress

0.000

0.000

12.896

(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

0.084

0.040

0.040

(e) Other Non-current assets

0.385

0.527

0.691

Total Non-Current Assets

135.965

135.133

83.846

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

82.707

66.559

55.347

(c) Trade receivables

300.823

223.710

159.839

(d) Cash and cash equivalents

28.988

21.479

11.816

(e) Short-term loans and advances

17.241

25.240

16.162

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

429.759

336.988

243.164

 

 

 

 

TOTAL

565.724

472.121

327.010

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

1000.000

Approximately

701.613

590.092

 

 

Other Income

NA

1.027

1.697

 

 

TOTAL                                     (A)

NA

702.640

591.789

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Consumption of Materials

 

589.342

497.791

 

 

Employee Benefits Expenses

 

15.959

12.988

 

 

Other Expenses

 

59.395

52.044

 

 

Changes in Inventories of Finished Goods, Stock in Process and Stock in Trade

 

(3.168)

(3.210)

 

 

TOTAL                                     (B)

NA

661.528

559.613

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

 

41.112

32.176

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

14.345

9.127

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

32.007

26.767

23.049

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

20.914

15.337

13.200

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                (G)

11.093

11.430

9.849

 

 

 

 

 

Less

TAX                                                                  (H)

2.450

4.707

2.793

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

8.643

6.723

7.056

 

 

 

 

 

 

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

38.063

35.503

31.666

 

 

 

 

 

 

APPROPRIATIONS

 

 

 

 

 

Transfer to General Reserve

0.000

2.000

2.000

 

 

Proposed Dividend

1.493

1.866

1.108

 

 

Tax on Dividend

0.242

0.303

0.184

 

BALANCE CARRIED TO THE B/S

44.971

38.063

35.503

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

NA

3.432

1.519

 

 

 

 

 

 

IMPORTS

NA

56.851

87.555

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

57.91

45.45

54.73

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover (Approximately)

 

 

1100.000

 

 

 

 

 

The above information has been parted by Mr. Ranjit Sen

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

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 Office :

Survey No. 609, Village Shetra, District Kheda, Ahmedabad – 387560, Gujarat, India

Tel. No.:

91-2694-281351 / 2694281694 / 2694281352

Mobile No.:

91-9426175245 (Mr. Ranjit Sen)

Fax No.:

91-2694-281352

E-Mail :

crespolad@sancharnet.in

cpol@crestcomposites.com

Website :

http://www.crestcomposites.com

Location :

Owned

 

 

Corporative / Administrative Office :

E-44, Satellite Apartment, Near Kameshwar School Road, Ahmedabad – 380015, Gujarat, India

Tel. No.:

91-79-65121758

Fax No.:

91-79-66610991

 

 

Factory :

Belur Industrial Estate, Dharwad, Hubli, Karnataka, India 

 

 

Branch Office :

Mumbai, Maharashtra, India

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.