MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ACRYSIL LIMITED (w.e.f. 22.02.1999) |
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Formerly Known
As : |
ACRYSIL ( |
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Registered
Office : |
704, Centre Point, J. B. Nagar, Andheri – Kurla Road
(East), Mumbai – 400059, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
19.01.1987 |
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Com. Reg. No.: |
11-042283 |
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Capital
Investment / Paid-up Capital : |
Rs. 45.080
Millions |
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CIN No.: [Company Identification
No.] |
L26914MH1987PLC042283 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20070B |
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PAN No.: [Permanent Account No.] |
AABCA0583C |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing
and |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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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. Financial position of the company seems to be sound. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Note : Balance Sheet of 31.03.2014 is not Available. |
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
NEWS
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 |
ICRA |
|
Rating |
Long
term fund based limits = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
March , 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short
term fund based facilities (LCs) = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
March , 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 DENIED
Management Non-Cooperative
Contact No.: 91-278-2540893
LOCATIONS
|
Registered Office : |
704, Centre Point, J. B. Nagar, Andheri – Kurla Road (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66711101/ 66711105 |
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Fax No.: |
91-22-66711109 |
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E-Mail : |
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Website : |
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Head Office/ Factory : |
Survey
No. 312, Bhavnagar - Rajkot Highway, Navagam, Vartej, Bhavnagar - 364060,
Gujarat, India |
|
Tel. No.: |
91-278-2540218/ 2540893/ 2540392/ 2540232 |
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Fax No.: |
91-278-2540558 |
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E-Mail : |
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Corporate Offices : |
Bangalore Office with Showroom : # 253/A, MDR House, 7th Block, Kanakapura Main
Road, Jayanagar, Bangalore-560082, Karnataka, India Tel. :
91-080-26642157 Email : kitchens@carysil.com Ahmedabad Office : U.G.F. Shop No.15-16, Rivera Arcade, Near Prahladnagar Garden, 100ft
Road, Tel. : 91-79-26937082 /
40034112 Fax : 91-79-40034112 Delhi Office: 11, First Floor Mansarover Garden, Opposite, Saheed A Azam Bhagatsingh
Park, Near Destimoney Kirti Nagar, New Delhi – 110015, India Tel. : +91-011-40524889 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Ashwin Mohanlal Parekh |
|
Designation : |
Executive Chairman |
|
Address : |
Devi Bhuvan, Victoria Park Road, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
12.07.1939 |
|
Date of Appointment : |
19.01.1987 |
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|
Name : |
Mr. Chirag Ashwin Parekh |
|
Designation : |
Vice Chairman and Managing Director |
|
Address : |
Devi Bhuvan, Victoria Park Road, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
30.08.1969 |
|
Date of Appointment : |
02.11.2002 |
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|
Name : |
Mr. M. Nageswara Rao |
|
Designation : |
Director |
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|
Name : |
Mr. Jagdish Ramanlal Naik |
|
Designation : |
Director |
|
Address : |
6, Padma, S V Road, Vile Parle (West), Mumbai - 400056, Maharashtra,
India |
|
Date of Birth/Age : |
23.09.1958 |
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Date of Appointment : |
29.03.1989 |
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|
|
|
Name : |
Mr. Ajit Rasiklal Sanghvi |
|
Designation : |
Director |
|
Address : |
1001, Amardeep, Plot No. 39, JVPD Scheme Road 3, Vile Parle (West),
Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1957 |
|
Date of Appointment : |
31.01.2000 |
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|
|
|
Name : |
Mr. Minoo D Daver |
|
Designation : |
Director |
|
Address : |
191, Mont Blanc Dadyseth Hill, August Kranti Marg, Mumbai - 400036,
Maharashtra, India |
|
Date of Birth/Age : |
29.10.1937 |
|
Date of Appointment : |
31.01.2000 |
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|
|
|
Name : |
Mr. Rustam Mulla |
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Designation : |
Director |
|
Name : |
Mr. Pradeep Gohil |
|
Designation : |
Director |
|
Name : |
Mr. Shyam Mariwala |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Damodar Hargovindbhai Sejpal |
|
Designation : |
Company Secretary |
|
Address : |
Block No. 304, Aksharvijay Apartment, Nr Grden, Ambawadi Keshod,
junagadh-362220, |
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Date of Birth/Age : |
04.12.1978 |
|
Date of Appointment : |
18.11.2009 |
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 |
|
|
|
|
|
|
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|
2226350 |
48.31 |
|
|
2226350 |
48.31 |
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|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2226350 |
48.31 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
150 |
0.00 |
|
|
75 |
0.00 |
|
|
225 |
0.00 |
|
|
|
|
|
|
194568 |
4.22 |
|
|
|
|
|
|
1147968 |
24.91 |
|
|
219924 |
4.77 |
|
|
818965 |
17.77 |
|
Non Resident Indians |
354652 |
7.70 |
|
|
452400 |
9.82 |
|
|
3204 |
0.07 |
|
|
8709 |
0.19 |
|
|
2381425 |
51.68 |
|
Total Public
shareholding (B) |
2381650 |
51.69 |
|
|
|
|
|
Total (A)+(B) |
4608000 |
100.00 |
|
|
|
|
|
(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) |
4608000 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million
Shareholding belonging to the category
"Promoter and Promoter Group"
|
No. |
Name
of the Shareholder |
Details
of Shares held |
Details
of warrants |
|
||
|
No. of Shares
held |
As a % of grand
total (A)+(B)+(C) |
Number of
warrants held |
As a % total
number of warrants of the same class |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
||
|
1 |
Chirag Parekh |
14,14,902 |
30.71 |
0 |
0.00 |
0.00 |
|
2 |
Chirag Parekh |
3,21,044 |
6.97 |
0 |
0.00 |
0.00 |
|
3 |
Pushpa R Parekh |
1,46,952 |
3.19 |
0 |
0.00 |
0.00 |
|
4 |
Shetal Chirag Parekh |
1,00,000 |
2.17 |
0 |
0.00 |
0.00 |
|
5 |
Acrycol Minerals Limited |
1,00,000 |
2.17 |
50000 |
100.00 |
0.00 |
|
6 |
Jatin R Parekh |
56,250 |
1.22 |
0 |
0.00 |
0.00 |
|
7 |
Acrycol Minerals Limited |
51,352 |
1.11 |
0 |
0.00 |
0.00 |
|
8 |
Jatin R Parekh |
27,600 |
0.60 |
0 |
0.00 |
0.00 |
|
9 |
Mala M Sanghrajka |
7,500 |
0.16 |
0 |
0.00 |
0.00 |
|
10 |
Ashwin M Parekh |
750 |
0.02 |
0 |
0.00 |
|
|
|
Total |
22,26,350 |
48.31 |
50000 |
100.00 |
|
Shareholding belonging to the category
"Public" and holding more than 1% of the Total No. of Shares
|
Sr.
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 |
Schock And Co GMBH |
452400 |
9.82 |
0.00 |
|
|
2 |
Piyush Vrajlal Mehta |
175350 |
3.81 |
0.00 |
|
|
3 |
Piyush Vrajlal Mehta |
120000 |
2.60 |
0.00 |
|
|
|
Total |
747750 |
16.23 |
0.00 |
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 |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
1 |
Schock And Co GMBH |
452400 |
9.82 |
0.00 |
|
|
|
Total |
452400 |
9.82 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and |
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|
Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
State Bank of India, Bhavnagar, Gujarat, India |
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Facilities : |
|
|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanghavi and Company Chartered Accountants |
|
Address : |
Bhavnagar, Gujarat, India |
|
|
|
|
Associates : |
·
Industrial Jewels Private Limited ·
Meccanica Plast Private Limited ·
Desai Desai Carrimjee and Mulla ·
Acrycol Minerals Limited ·
Anilaben Labhuma Parekh Charitable
Trust |
|
|
·
|
|
Subsidiary
Companies : |
·
Acrysil Steel Limited ·
Acrysil Appliance Limited ·
Acrysil Quartz Private Limited ·
Acrysil GmbH, Germany |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.45.080 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,458,000 |
Equity Shares |
Rs.10/- each |
Rs.44.580
Millions |
|
|
|
|
|
Equity shares issued as fully paid up bonus shares or
otherwise than by cash during the preceding five years: 1,486,000
Share Capital Reconciliation:
|
|
As on 31.03.2013 |
|
|
Particulars |
Equity Shares |
|
|
|
No. of shares |
Amount |
|
Shares outstanding at the beginning of the year |
2,972,000 |
29.720 |
|
Shares issued during the year |
1,486,000 |
14.860 |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
4,458,000 |
44.580 |
Shares held by each shareholder holding more than five per cent shares:
|
Name of Shareholder |
As on 31.03.2013 |
|
|
|
No. of shares |
% of holding |
|
Chirag A Parekh |
1,835,946 |
41.18% |
|
Schock & Co GmbH |
452,400 |
10.15% |
|
Piyush Vrajlal Mehta |
295,350 |
6.63% |
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 |
45.080 |
44.580 |
29.720 |
|
(b) Reserves & Surplus |
337.216 |
274.002 |
251.027 |
|
(c) Money received against
share warrants |
3.750 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
386.046 |
318.582 |
280.747 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
64.291 |
32.218 |
18.848 |
|
(b) Deferred tax liabilities
(Net) |
22.135 |
19.220 |
16.900 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.649 |
0.633 |
0.853 |
|
Total
Non-current Liabilities (3) |
87.075 |
52.071 |
36.601 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
267.065 |
217.183 |
145.218 |
|
(b) Trade payables |
122.672 |
100.544 |
51.907 |
|
(c) Other current liabilities |
70.784 |
39.861 |
40.271 |
|
(d) Short-term provisions |
33.645 |
33.932 |
26.215 |
|
Total
Current Liabilities (4) |
494.166 |
391.520 |
263.611 |
|
|
|
|
|
|
TOTAL |
967.287 |
762.173 |
580.959 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
286.511 |
247.153 |
204.801 |
|
(ii) Intangible Assets |
0.000 |
0.828 |
0.821 |
|
(iii) Capital work-in-progress |
0.000 |
0.609 |
3.998 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
73.977 |
51.947 |
10.901 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
69.547 |
30.399 |
62.723 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
430.035 |
330.936 |
283.244 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
212.860 |
162.727 |
104.484 |
|
(c) Trade receivables |
243.885 |
200.577 |
148.614 |
|
(d) Cash and cash equivalents |
20.365 |
18.582 |
14.745 |
|
(e) Short-term loans and
advances |
60.142 |
49.351 |
29.872 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
537.252 |
431.237 |
297.715 |
|
|
|
|
|
|
TOTAL |
967.287 |
762.173 |
580.959 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
1,037.095 |
784.493 |
621.559 |
|
|
Other Income |
7.662 |
8.051 |
8.909 |
|
|
TOTAL
(A) |
1,044.757 |
792.544 |
630.468 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
257.530 |
267.557 |
203.793 |
|
|
Purchases of Stock-in-Trade |
162.967 |
81.828 |
59.037 |
|
|
Bought out items consumed |
68.002 |
0.000 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(53.235) |
(26.106) |
(11.152) |
|
|
Employees benefits expense |
94.623 |
68.565 |
55.655 |
|
|
Outward
& clearing charges |
53.060 |
0.000 |
0.000 |
|
|
Packing
material |
41.961 |
0.000 |
0.000 |
|
|
Power and Fuel |
83.549 |
0.000 |
0.000 |
|
|
Other expenses |
160.852 |
264.572 |
216.470 |
|
|
TOTAL
(B) |
869.309 |
656.416 |
523.803 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
175.448 |
136.128 |
106.665 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
34.358 |
26.571 |
20.417 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
141.090 |
109.557 |
86.248 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
35.882 |
37.941 |
33.181 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
105.208 |
71.616 |
53.067 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
25.397 |
16.570 |
13.650 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
79.811 |
55.046 |
39.417 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
578.125 |
465.434 |
|
|
TOTAL
EARNINGS |
NA |
578.125 |
465.434 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
186.473 |
136.765 |
|
|
Components and Stores parts |
NA |
55.655 |
34.801 |
|
|
Stainless Steel Sink |
NA |
4.768 |
24.707 |
|
|
Foodwaste Disposer |
NA |
3.371 |
3.107 |
|
|
Faucets |
NA |
4.537 |
2.662 |
|
|
Engineering Stone |
NA |
0.000 |
1.096 |
|
|
Hod Hob Chimney |
NA |
11.884 |
0.000 |
|
|
Misc Traded Goods |
NA |
0.021 |
0.000 |
|
|
Capital Goods |
NA |
57.496 |
14.318 |
|
|
TOTAL
IMPORTS |
NA |
324.205 |
217.456 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
17.87 |
12.35 |
8.84 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.64 |
6.95 |
6.25 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.14 |
9.13 |
8.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.78 |
10.09 |
9.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.23 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.86 |
0.78 |
0.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.10 |
1.13 |
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 |
29.720 |
44.580 |
45.080 |
|
Reserves & Surplus |
251.027 |
274.002 |
337.216 |
|
Money received against share
warrants |
0.000 |
0.000 |
3.750 |
|
Net
worth |
280.747 |
318.582 |
386.046 |
|
|
|
|
|
|
long-term borrowings |
18.848 |
32.218 |
64.291 |
|
Short term borrowings |
145.218 |
217.183 |
267.065 |
|
Total
borrowings |
164.066 |
249.401 |
331.356 |
|
Debt/Equity
ratio |
0.584 |
0.783 |
0.858 |
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) |
|
Revenue from operations |
621.559 |
784.493 |
1,037.095 |
|
|
|
26.214 |
32.199 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
621.559 |
784.493 |
1,037.095 |
|
Profit/(Loss) After Tax |
39.417 |
55.046 |
79.811 |
|
|
6.34% |
7.02% |
7.70% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
NA |
19.881 |
21.026 |
|
|
|
|
|
|
Total |
NA |
19.881 |
21.026 |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10259298 |
10/12/2010 |
84,000,000.00 |
STATE BANK OF
INDIA |
DARBARGADH BRANCH,,
DARBARGADH, BHAVNAGAR, Gujara |
B02576601 |
|
2 |
10110709 |
16/04/2008 |
36,000,000.00 |
STATE BANK OF
SAURASHTRA |
DARBARGADH
BRANCH, BHAVNAGAR, BHAVNAGAR, Gujarat |
A40692295 |
|
3 |
90232824 |
10/10/2013 * |
530,100,000.00 |
STATE BANK OF
INDIA |
DARBARGADH
BRANCH,, DARBARGADH,, BHAVNAGAR, Gujar |
B88105333 |
* Date of charge
modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans From shareholders |
NA |
0.420 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans From others |
NA |
40.695 |
|
|
|
|
|
Total |
NA |
41.115 |
UNAUDITED STANDALONE RESULTS (PROVISIONAL) FOR THE QUARTER
ENDED 30 JUNE, 2014
(Rs.
in millions)
|
Sr. No. |
Particulars |
|
|
Quarter Ended |
|
|
|
30.06.2014 |
||
|
|
|
|
|
(Unaudited) |
|
1 |
Income from Operations |
|
|
|
|
|
(a) Net sales / Income from Operation (Net of Excise duty) |
|
|
324.994 |
|
|
(b) Other operating income |
|
|
0.000 |
|
|
Total Income from Operations |
|
|
324.994 |
|
2 |
Expenses |
|
|
|
|
|
Cost of material Consumed |
|
|
78.370 |
|
|
Purchase stock in trade |
|
|
28.712 |
|
|
Bought out items consumed |
|
|
15.521 |
|
|
Changes in
Inventories of Finished goods, Work in progress and Stock in trade |
|
|
21.113 |
|
|
Employee benefits Expense |
|
|
25.570 |
|
|
Depreciation |
|
|
7.592 |
|
|
Power and fuel |
|
|
10.103 |
|
|
Outward & clearing charges |
|
|
16.081 |
|
|
Packing material |
|
|
27.669 |
|
|
Other expenditure |
|
|
44.159 |
|
|
Total |
|
|
274.890 |
|
3 |
Profit from Operations before
Other Income, Interest & Exceptional Items (1- 2) |
|
|
50.104 |
|
4 |
Other Income |
|
|
2.596 |
|
5 |
Profit from Ordinary activities
before Finance Cost and exceptional items |
|
|
52.700 |
|
6 |
Finance Costs |
|
|
9.218 |
|
7 |
Profit from Ordinary activities after
Finance Cost but before exceptional items (5 - 6) |
|
|
43.482 |
|
8 |
Exceptional Items |
|
|
-- |
|
9 |
Profit from Ordinary activities
before Tax (7 - 8) |
|
|
43.482 |
|
10 |
Tax
expense |
|
|
|
|
|
Current (Net of MAT credit) |
|
|
9.120 |
|
|
Deferred |
|
|
1.400 |
|
|
Earlier year |
|
|
0.000 |
|
11 |
Profit
from Ordinary activities after Tax (9 - 10) |
|
|
32.962 |
|
12 |
Extraordinary Items (net of tax expense) |
|
|
-- |
|
13 |
Net Profit
for the period (11 - 12) |
|
|
32.962 |
|
14 |
Paid-up share capital (Face Value of Rs.10/- each) |
|
|
46.080 |
|
15 |
Reserves
excluding Revaluation Reserve |
|
|
|
|
16 |
Earnings per Share |
|
|
|
|
|
(a) Basic Earning per share (Rs.)* |
|
|
7.25 |
|
|
(b) Diluted Earning per share (Rs)* |
|
|
7.20 |
|
|
|
|
|
|
|
|
Part II A. Particulars of Shareholding |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- No. of Shares |
|
|
2381650 |
|
|
-% of Shareholding |
|
|
51.69 |
|
2 |
Promoters and Promoter group
Shareholding |
|
|
|
|
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 |
|
|
2226350 |
|
|
- 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) |
|
|
48.31 |
|
B |
INVESTOR COMPLAINTS |
Quarter Ended 30.06.2014 |
|
|
Pending at the beginning of
the quarter |
Nil |
|
|
Received during the
quarter |
4 |
|
|
Disposed of during the
quarter |
4 |
|
|
Remaining unresolved at
the end of the quarter |
Nil |
FIXED ASSETS
TANGIBLE ASSETS
· Freehold Land
· Buildings
· Plant and Machinery
· Moulds and Dies
· Vehicles
· Furniture and Fixtures
· Office Equipment
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 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. 61.06 |
|
|
1 |
Rs. 101.84 |
|
Euro |
1 |
Rs. 81.56 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
C |
|
--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 |
|
50 |
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.