MIRA
INFORM REPORT
|
Report Date : |
19.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TIME TECHNOPLAST LIMITED (w.e.f. 01.05.2006) |
|
|
|
|
Formerly Known
As : |
TIME PACKAGING LIMITED |
|
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|
|
Registered
Office : |
Office No. 213, Sabari Apartments,
Building No. 1, Survey No. 387, Dungri Falia, Kachigam Daman UT, Daman and
Diu - 396210, |
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|
Country : |
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.12.1989 |
|
|
|
|
Com. Reg. No.: |
56-003240 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 210.118 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27203DD1989PLC003240 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT08803E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT2783J |
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|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacture of Polymer Based Products |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
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 28000000 |
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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. There
seems an increase in the sales volume as well as net profitability of the
company. Net worth of the company seems to be satisfactory. Financial position of the company is good. 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 good for normal 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
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 |
CRISIL |
|
Rating |
A1 + [Letter of Credit] |
|
Rating Explanation |
Very strong degree of safety it carry lowest
credit risk. |
|
Date |
27.09.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
AA – [Cash Credit] |
|
Rating Explanation |
High degree of safety it carry very low
credit risk. |
|
Date |
27.09.2013 |
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 DENIDED BY
|
Name : |
Mr. Manish Pawani |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-22-28039999 |
|
Date : |
03.06.2014 |
LOCATIONS
|
Registered Office : |
Office No. 213, Sabari Apartments, Building
No. 1, Survey No. 387, Dungri Falia, Kachigam Daman UT, Daman and Diu-396210,
Union Territory |
|
Tel. No.: |
91-22-71119213 |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Area : |
10000
sq. ft. |
|
Location : |
Owned
|
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Head Office : |
2nd Floor, 55, Corporate Avenue, Saki Vihar Road, Andheri (East),
Mumbai – 400 072, Maharashtra, India |
|
Tel No.: |
91-22-28039999 / 28039700 / 42119999 / 71119000 / 42119999 |
|
Fax No.: |
91-22-28575672 |
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Email. |
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Regional Office : |
Also Located At:
·
·
Vadodara ·
·
Chennai ·
·
·
Kolkatta ·
Sahibabad R.O. ( ·
|
DIRECTORS
AS ON: 30.09.2013
|
Name : |
Mr.
Kuthoore Natarajan Venkatasubramanian |
|
Designation : |
Chairman
(Non Executives and Independent) |
|
Address : |
D4/D5, Ashok Swetha, 173, Avvai Shanmugam Salai, Royapettah,
Chennai-600014, Tamilnadu, India |
|
Date of Birth/Age : |
14.04.1938 |
|
Date of Appointment : |
14.12.2000 |
|
DIN No.: |
00007392 |
|
|
|
|
Name : |
Mr.
Anil Paraslal Jain |
|
Designation : |
Managing
Director |
|
Address : |
311/312, Lokhandwala Complex, Andheri (West), Mumbai-400053, Maharashtra,
India |
|
Date of Birth/Age : |
03.01.1955 |
|
Date of Appointment : |
17.10.1991 |
|
DIN No.: |
00183364 |
|
|
|
|
Name : |
Mr.
Bharat Kumar Ratanlal Vageria |
|
Designation : |
Whole
Time Director – Finance |
|
Address : |
101-102, Nandalaya Khandalwal Complex, Evershine Nagar, Malad (West),
Mumbai-400064, Maharashtra, India |
|
Date of Birth/Age : |
10.12.1959 |
|
Date of Appointment : |
21.03.1990 |
|
DIN No.: |
00183629 |
|
|
|
|
Name : |
Mr.
Naveen Mahendrakumar Jain |
|
Designation : |
Whole
Time Director- Technical |
|
Address : |
RNA Royal Park, 1107C, M G Road, Hindustan Naka, Kandivili (West),
Mumbai-400067, Maharashtra, India |
|
Date of Birth/Age : |
19.01.1966 |
|
Date of Appointment : |
20.12.1989 |
|
DIN No.: |
00183948 |
|
|
|
|
Name : |
Mr.
Raghupathy Payyalore Thyagarajan |
|
Designation : |
Whole
Time Director- Marketing |
|
Address : |
A9/36, Sunder Nagar, Kalina, Santacruz (East), Mumbai-400098,
Maharashtra, India |
|
Date of Birth/Age : |
07.11.1964 |
|
Date of Appointment : |
21.03.1990 |
|
DIN No.: |
00183305 |
|
|
|
|
Name : |
Mr.
Hans-Dieter Von Meiobom |
|
Designation : |
Director
(Non-Executive and Independent) |
|
Address : |
Buchweg 12, 63303, Dreieich, Buchschlag |
|
Date of Birth/Age : |
27.10.1941 |
|
Date of Appointment : |
31.07.2008 |
|
DIN No.: |
02313038 |
|
|
|
|
Name : |
Mr.
Sanjay Shrikrishna Kulkarni |
|
Designation : |
Director
(Non-Executive and Independent) |
|
Address : |
A/12, Technocrat Co-Operative Housing Society, Near Twin Tower,
Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1949 |
|
Date of Appointment : |
25.03.2003 |
|
DIN No.: |
00102575 |
|
|
|
|
Name : |
Mr. Mahinder
Dayanand Wadhwa |
|
Designation : |
Director
(Non-Executive and Independent) |
|
Address : |
204-A, Landsend Lokhandwala Complex, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Date of Birth/Age : |
13.10.1952 |
|
Date of Appointment : |
01.06.1995 |
|
DIN No.: |
00064148 |
|
|
|
|
Name : |
Mr.
Kartik Chandra Parija |
|
Designation : |
Director
(Non-Executive) |
|
Address : |
3D, SPL Enderly, 26, Cubbon Road, Bangalore-560001, Karnataka, India |
|
Date of Birth/Age : |
27.10.1941 |
|
Date of Appointment : |
31.07.2008 |
|
DIN No.: |
00177115 |
KEY EXECUTIVES
|
Name : |
Mr. Niklank Kumar Jain |
|
Designation : |
Secretary |
|
Address : |
Flat No. 22, B-4, Highway View Cooperative Housing Society Limited,
Near Shantaram Talao, Malad (East), Mumbai – 400097, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1975 |
|
Date of Appointment : |
14.12.2013 |
|
PAN No.: |
ADAPJ0336P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.06.2014
|
Category of Shareholder |
No. of Shares |
% of No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
17346258 |
8.26 |
|
|
112672371 |
53.62 |
|
|
92968 |
0.04 |
|
|
92968 |
0.04 |
|
|
130111597 |
61.92 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
130111597 |
61.92 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
18165996 |
8.65 |
|
|
30779687 |
14.65 |
|
|
48945683 |
23.29 |
|
|
|
|
|
|
7568787 |
3.60 |
|
|
|
|
|
|
5820115 |
2.77 |
|
|
4205756 |
2.00 |
|
|
13465812 |
6.41 |
|
|
197262 |
0.09 |
|
|
971431 |
0.46 |
|
|
8676036 |
4.13 |
|
|
3496567 |
1.66 |
|
|
124516 |
0.06 |
|
|
31060470 |
14.78 |
|
Total Public shareholding (B) |
80006153 |
38.08 |
|
Total (A)+(B) |
210117750 |
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) |
210117750 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Polymer Based Products |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed Capacity |
Production
|
|
Plastic Products |
MT |
126850 |
83463 |
Notes
·
Licensed capacity is not
applicable in view of the company’s products having been de-licensed as per new
licensing policy announced by the government of India.
·
Install Capacity is as certified
by the management and accepted by Auditors as this is a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
||||||||||||||||||
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|
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|
Bankers : |
· Standard Chartered Bank, Narain Manzil, 23, Barakhamba Road, New Delhi - 110001, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · Ing Vysya Bank Limited, Narian Manzil, Ground Floor, Shop No. G1 To G5, 1st Floor, Shop No.1001 To 1007, Barakhamba Road, New Delhi - 110001, India · Indusind Bank Limited, Dr. Gopal Das Bhawan, 28, Barakhamba Road,, New Delhi - 110001, India · Kotak Mahindra Bank Limited, 36-38a, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raman
S. Shah and Associates Chartered Accountants |
|
Address : |
A-Wing, 2nd Floor, Sam Plaza, H K Irani Road, District Thane, Dahanu Road, (West) Dahanu – 401602, India |
|
PAN No.: |
AAAAR1481M |
|
|
|
|
Subsidiaries : |
·
TPL Plastech Limited CIN NO.:- L25209DD1992PLC004656 ·
Elan Incorporated FZE ·
Nova Tech SP Z.O.O. ·
Kampozit Praha S.R.O. ·
GNXT Investment Holdings Pte. Limited ·
Ikon Investment Holdings Limited |
|
|
|
|
Fellow Subsidiary : |
·
Gulf Powerbeat W.L.L ·
Technika Corporation F.Z.E ·
Tianjin Elan Plastech Company Limited ·
YPA (Thailand) Limited ·
Pack Delta Public Company Limited ·
Powerbuild Batteries Private Limited ·
Yung Hsin Contain Industry Company Limited ·
GrassTech SRL ·
PT Novo Complast ·
Tech Complast |
|
|
|
|
Joint Venture : |
·
Time Mauser Industries Private Limited CIN NO.:- U01122DD2003PTC003276 ·
Schoeller Arca Time Holdings Pte. Limited CIN NO.:- U25200DD2009PLC004671 |
|
|
|
|
Other Related Parties : |
·
Avion Exim Private Limited CIN NO.:- U51900MH1999PTC119909 ·
Time Exports Private Limited CIN NO.:- U51900MH1991PTC063915 ·
Ace Mouldings Private Limited CIN NO.:- U28992MH1999PLC119981 ·
Apex Plastics ·
Time Securities Services Private Limited ·
Vishwalaxmi Trading and Finance Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorised Capital : Not Divulged
Issued, Subscribed & Paid-up Capital : Rs.210.118
Millions
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Re.1/- each |
Rs. 250.000 Millions |
|
2500000 |
Redeemable Preferences Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
|
|
TOTAL
|
|
Rs. 275.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210117750 |
Equity Shares |
Re.1/- each |
Rs. 210.118
Millions |
|
|
|
|
|
NOTES
Of the Above
Includes
(I)
19,905,000 Shares were allotted as fully paid-up pursuant
to the Scheme of Amalgamation of erstwhile Shalimar Packaging Private Limited
and Oxford Mouldings Private Limited with the company without payment received
in cash.
(II)
78,525,000 Shares were allloted as fully paid-up by
way of Bonus shares by capitalisation of Share Premium Account and General
Reserves.
(III)
8,52,750 Shares were allloted as fully paid-up
under ESOP scheme.
(IV)
The Equity Shares of Rs. 10/- each of the Company
have been sub divided into Equity Shares of Rs. 1 each with effect from 6th
November 2008.
b) Rights of
Equity Shareholders
The Company has
only one class of Equity Shares having par value of Rs. 1 each, holder of
equity shares is entitled to one vote per share. In the event of liquidation of
the Company, the holder of equity shares will be entitled to receive any of the
remaining assets of the Company
c) Reconciliation
of numbers of equity shares
|
Particulars |
As at 31st March 2013 |
|
|
Number |
RS. In Millions |
|
|
Shares
outstanding at the beginning of the year |
209,265,000 |
209.265 |
|
Shares issued
during the year |
852,750 |
0.853 |
|
Shares
outstanding at the end of the year |
210,117,750 |
210.118 |
d) Details of
members holding equity shares more than 5%
|
Name of Shareholder |
As at 31st March 2013 |
|
|
No. of Shares Held |
% of Holding |
|
|
(a) Time
Securities Services Private Limited |
42,177,098 |
20.07% |
|
(b) Vishwalaxmi
Trading and Finance Private Limited |
39,772,667 |
18.93% |
|
(c) Time Exports
Private Limited |
28,547,606 |
13.59% |
|
(d) HDFC Trustee
Company Limited – HDFC Equity Fund AAATH1809A |
18,165,996 |
8.65% |
|
(e) American
Funds Insurance Series Global Small Capitalization Fund |
11,888,000 |
5.66% |
|
(f) Core
International FZC |
10,719,900 |
5.10% |
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 |
210.118 |
210.118 |
210.118 |
|
(b) Reserves & Surplus |
7480.997 |
6802.687 |
6132.205 |
|
(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) |
7691.115 |
7012.805 |
6342.323 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
1766.037 |
1480.288 |
1715.104 |
|
(b) Deferred tax liabilities (Net) |
306.200 |
276.645 |
233.103 |
|
(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) |
2072.237 |
1756.933 |
1948.207 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2527.478 |
2461.249 |
1893.993 |
|
(b)
Trade payables |
1538.397 |
1311.437 |
1112.312 |
|
(c)
Other current liabilities |
858.587 |
885.391 |
662.692 |
|
(d) Short-term
provisions |
374.228 |
432.912 |
393.232 |
|
Total Current
Liabilities (4) |
5298.690 |
5090.989 |
4062.229 |
|
|
|
|
|
|
TOTAL |
15062.042 |
13860.727 |
12352.759 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
6204.716 |
4822.211 |
4381.538 |
|
(ii)
Intangible Assets |
0.000 |
12.433 |
17.618 |
|
(iii)
Capital work-in-progress |
0.000 |
1058.562 |
953.466 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1498.992 |
1445.750 |
1605.476 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
82.514 |
79.347 |
68.416 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7786.222 |
7418.303 |
7026.514 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2339.226 |
2109.601 |
1731.491 |
|
(c)
Trade receivables |
2670.569 |
2248.998 |
1983.148 |
|
(d) Cash
and cash equivalents |
312.937 |
256.995 |
216.628 |
|
(e)
Short-term loans and advances |
1943.221 |
1818.546 |
1389.012 |
|
(f) Other
current assets |
9.867 |
8.284 |
5.966 |
|
Total
Current Assets |
7275.820 |
6442.424 |
5326.245 |
|
|
|
|
|
|
TOTAL |
15062.042 |
13860.727 |
12352.759 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12180.263 |
10665.580 |
9207.391 |
|
|
|
Other Income |
234.849 |
43.040 |
58.422 |
|
|
|
TOTAL (A) |
12415.112 |
10708.620 |
9265.813 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
8539.736 |
7224.118 |
6235.272 |
|
|
|
Manufacturing and Operating Costs |
0.000 |
533.567 |
447.899 |
|
|
|
Employee Benefit Expense |
453.640 |
391.493 |
327.767 |
|
|
|
Other Expenses |
1478.023 |
729.331 |
610.483 |
|
|
|
Changes in inventories of finished goods, Work-in-progress and
Stock-in-Trade |
(123.145) |
(152.897) |
(134.234) |
|
|
|
TOTAL (B) |
10348.254 |
8725.612 |
7487.187 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2066.858 |
1983.008 |
1778.626 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
613.974 |
563.915 |
444.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1452.884 |
1419.093 |
1334.071 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
439.802 |
402.443 |
356.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1013.082 |
1016.650 |
978.036 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
209.704 |
261.193 |
241.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
803.378 |
755.457 |
736.044 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4557.521 |
4022.034 |
3521.850 |
|
|
|
|
|
|
|
|
|
Add/ Less |
TAXATION
OF EARLIER YEARS |
NA |
25.650 |
9.030 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
135.000 |
135.000 |
|
|
|
Proposed Dividend |
|
94.550 |
94.550 |
|
|
|
Tax on Dividend |
|
16.070 |
15.340 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
4557.521 |
4022.034 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
739.243 |
819.275 |
|
|
TOTAL EARNINGS |
NA |
739.243 |
819.275 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
3565.401 |
2784.645 |
|
|
|
Stores & Spares |
|
1.605 |
1.145 |
|
|
|
Capital Goods |
|
127.075 |
478.613 |
|
|
TOTAL IMPORTS |
NA |
3694.081 |
3264.403 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
|
|
|
|
Basic |
3.82 |
3.60 |
3.51 |
|
|
|
Diluted |
3.74 |
3.52 |
3.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
6.47 |
7.06 |
7.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.32 |
9.53 |
10.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.47 |
8.95 |
9.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.15 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56 |
0.56 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.27 |
1.31 |
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 |
210.118 |
210.118 |
210.118 |
|
Reserves & Surplus |
6132.205 |
6802.687 |
7480.997 |
|
Net
worth |
6342.323 |
7012.805 |
7691.115 |
|
|
|
|
|
|
long-term borrowings |
1715.104 |
1480.288 |
1766.037 |
|
Short term borrowings |
1893.993 |
2461.249 |
2527.478 |
|
Total
borrowings |
3609.097 |
3941.537 |
4293.515 |
|
Debt/Equity
ratio |
0.569 |
0.562 |
0.558 |
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 |
9,207.391 |
10,665.580 |
12,180.263 |
|
|
|
15.837 |
14.202 |
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 |
9,207.391 |
10,665.580 |
12,180.263 |
|
Profit |
736.044 |
755.457 |
803.378 |
|
|
7.99% |
7.08% |
6.60% |
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 |
Yes |
|
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 |
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 |
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 |
UNSECURED LOAN:
|
Particulars |
As
on 31.03.2013 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
Term loans from banks |
500.000 |
|
Deferral Sales tax Liability |
19.219 |
|
|
|
|
TOTAL
|
519.219 |
FIXED ASSETS
·
Land
·
Factory
Buildings
·
Office Premises
·
Plant and
Machinery
·
Furniture and
Fixtures
·
Office
Equipments
·
Vehicles
·
Computers
AUDITED
STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH JUNE 2014
Rs. in Millions
|
Sr. No. |
Particulars |
Quarter Ended |
|
|
30.06.2014 |
|||
|
(Unaudited) |
|||
|
1 |
a |
Income from
Operations |
|
|
|
|
Gross Sales |
3241.154 |
|
|
|
Less: Excise Duty |
298.149 |
|
|
|
Net Sales / Income from Operations |
2943.005 |
|
|
b |
Other Operating Income |
-- |
|
|
|
Total Income( a+b ) |
2943.005 |
|
|
|
|
|
|
2 |
|
Expenditure :- |
|
|
|
a |
Consumption of Raw Materials |
1968.854 |
|
|
b |
Purchase of Stock-in-trade |
-- |
|
|
c |
Change in inventories of finished goods, work-in-progress & stock-in-trade |
60.266 |
|
|
d |
Employees Cost |
112.736 |
|
|
e |
Depreciation |
124.111 |
|
|
f |
Other Expenditure |
348.258 |
|
|
|
Total Expenditure |
2614.227 |
|
3 |
|
Profit from Operations before Other Income, Interest & Exceptional Items (1-2) |
328.778 |
|
4 |
|
Other Income |
-- |
|
5 |
|
Profit before Interest
& Exceptional Items ( 3+4) |
328.778 |
|
6 |
|
Interest ( Net ) |
162.147 |
|
7 |
|
Profit after Interest but before Exceptional Items (5-6) |
166.631 |
|
8 |
|
Exceptional Items |
-- |
|
9 |
|
Profit From
Ordinary Activities Before Tax (7-8) |
166.631 |
|
10 |
|
Tax Expenses |
44.951 |
|
11 |
|
Net Profit from
Ordinary Activities after tax (9-10) |
121.680 |
|
12 |
|
Paid -up equity share capital (Face Value of Rs. 1/-) |
210.118 |
|
13 |
|
Reserve excluding Revaluation Reserves |
-- |
|
14 |
|
Earnings Per Share
( EPS ) |
|
|
|
|
Before & After
Extraordinary items |
|
|
|
a |
Basic |
0.58 |
|
|
b |
Diluted |
0.56 |
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.61.06 |
|
|
1 |
Rs.101.84 |
|
Euro |
1 |
Rs.81.56 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
64 |
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.