MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TPL PLASTECH LIMITED |
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Registered
Office : |
213, Sabri, Kachigam, Daman and |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
30.09.1992 |
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Com. Reg. No.: |
56-004656 |
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Capital Investment
/ Paid-up Capital : |
Rs. 78.003 Millions |
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CIN No.: [Company Identification
No.] |
L25209DD1992PLC004656 |
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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
: |
Manufacturer of high-density polyethylene drums and containers. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
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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. Payments 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. |
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 |
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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 |
Long Term rating = A |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk |
|
Date |
10.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term rating = A1 |
|
Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
|
Date |
10.10.2013 |
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 DECLINED BY
|
Name : |
Mr. Sunil |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-40624200 |
|
Date : |
19.08.2014 |
LOCATIONS
|
Registered Office : |
213, Sabri, Kachigam, Daman and Diu – 396 210, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Corporate Office 1 : |
55, Corporate Avenue, 2nd Floor, Saki Vihar Road Andheri (East), Mumbai - 400072, Maharashtra, India |
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Corporate Office 2 : |
VTM -2, Office No. 102, C. Mehra Industrial Estate, Saki
Naka, Andheri-Kurla Road, Mumbai – 400 072, Maharashtra, India |
|
Tel. No.: |
91-22-40624200 |
|
Fax No.: |
91-22-28510087 |
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Factory 1 : |
Plot No. 5, Government Industrial Estate, Khadoli Village, Silvassa – 396230 Dadra & Nagar Haveli - (U.T.), India |
|
Tel. No.: |
91-260-2699400 |
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Fax No.: |
91-260-2699072 / 3251671 |
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|
Factory 2 : |
Lane No. 5, Phase 2, SIDCO Industrial Complex, Bari
Brahmna Industrial Estate, Jammu, Jammu and Kashmir, India |
|
Tel. No.: |
91-1923-220474 |
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Fax No.: |
91-1923-220300 |
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Factory 3 : |
Survey No. 54B, & 54C, Village Alak Devi, Tahsil Gadarpur, District. U. S. Nagar, Uttarakhand, India |
|
Tel. No.: |
91-5949-271099 |
|
Fax No.: |
91-5949-272319 / 271003 |
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Factory 4 : |
Survey No. 217/2, Village Kotda, Taluka Anjar, District Bhuj, Kutch, Gujarat, India |
|
Tel. No.: |
91-2836-287215 / 216 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Sanjaya Kulkarni |
|
Designation : |
Chairman & Independent Director |
|
|
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|
Name : |
Mr. Kamlesh Joisher |
|
Designation : |
Whole Time Director |
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|
Name : |
Mr. M. K. Wadhwa |
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Designation : |
Non-Executive & Independent Director |
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|
Name : |
Mr. Jagdish Bhuta |
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Designation : |
Non-Executive & Independent Director |
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Name : |
Dr. G.N. Mathur |
|
Designation : |
Nominee of Time Technoplast Limited |
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|
Name : |
Mr. Vishal Jain |
|
Designation : |
Non-Executive & Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Manoj Kumar Mewara |
|
Designation : |
Company Secretary |
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|
Name : |
Mr. Sunil |
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Designation : |
Account Department |
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|
Name : |
Mr. Manoj Sharma |
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Designation : |
Chief Financial Offi cer |
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|
Name : |
M.V. Suresh |
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Designation : |
G.M. – Marketing |
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Name : |
Mr. Rahul Sharma |
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Designation : |
Manager – Commercial |
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|
Name : |
Mr. Vikram Bhatt |
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Designation : |
Manager – Plant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
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|
5850126 |
75.00 |
|
|
5850126 |
75.00 |
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|
Total shareholding of Promoter and Promoter Group (A) |
5850126 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
8300 |
0.11 |
|
|
8300 |
0.11 |
|
|
|
|
|
|
204607 |
2.62 |
|
|
|
|
|
|
1039819 |
13.33 |
|
|
645537 |
8.28 |
|
|
51911 |
0.67 |
|
|
48853 |
0.63 |
|
|
1844 |
0.02 |
|
|
1214 |
0.02 |
|
|
1941874 |
24.89 |
|
Total Public shareholding (B) |
1950174 |
25.00 |
|
Total (A)+(B) |
7800300 |
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) |
7800300 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of high-density polyethylene drums and containers. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· IDBI Bank Limited · Kotak Mahindra Bank Limited · Standard Chartered Bank ·
ICICI Bank Limited |
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Facilities : |
(Rs.
In Millions)
|
|
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Banking
Relations : |
--- |
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Auditors : |
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|
Name : |
Lodha and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
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Holding Company : (As on 31.03.2013) |
Time Technoplast Limited |
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Fellow Subsidiary : (As on 31.03.2013) |
· Elan Incorporated FZE, Sharjah · Novo Tech Sp. Z.O.O., Poland · Ned Energy Ltd., India · GNXT Investments Holdings PTE. Limited., Singapore ·
Ikon Investments Holdings Limited, Mauritius |
|
|
·
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.78.003 Millions
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7800300 |
Equity Shares |
Rs.10/- each |
Rs.78.003 Millions |
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Rights of Equity
Shareholders
The Company has only one class of Equity Shares having par value of Rs.10 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.
Reconciliation of
numbers of equity shares
|
Particulars |
Number |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
7,800,300 |
78.003 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
7,800,300 |
78.003 |
Details of members
holding equity shares more than 5%
|
Name of Shareholder |
No. of Shares held |
% of Holding |
|
Time Technoplast Limited ( Holding company) |
5,850,126 |
75.00% |
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 |
78.003 |
78.003 |
78.003 |
|
(b) Reserves & Surplus |
304.258 |
250.581 |
206.065 |
|
(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) |
382.261 |
328.584 |
284.068 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
85.950 |
159.359 |
198.083 |
|
(b) Deferred tax liabilities (Net) |
59.166 |
55.352 |
49.561 |
|
(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) |
145.116 |
214.711 |
247.644 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
269.110 |
168.473 |
155.104 |
|
(b) Trade payables |
286.389 |
333.783 |
246.192 |
|
(c) Other current
liabilities |
105.783 |
103.160 |
81.956 |
|
(d) Short-term provisions |
22.235 |
23.135 |
20.853 |
|
Total Current Liabilities (4) |
683.517 |
628.551 |
504.105 |
|
|
|
|
|
|
TOTAL |
1210.894 |
1171.846 |
1035.817 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
470.128 |
480.049 |
481.922 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
18.335 |
20.180 |
|
(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 |
7.702 |
3.748 |
4.605 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
477.830 |
502.132 |
506.707 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
186.835 |
225.190 |
157.018 |
|
(c) Trade receivables |
426.378 |
340.646 |
300.959 |
|
(d) Cash and cash
equivalents |
16.821 |
18.566 |
8.706 |
|
(e) Short-term loans and
advances |
95.909 |
83.654 |
61.630 |
|
(f) Other current assets |
7.121 |
1.658 |
0.797 |
|
Total Current Assets |
733.064 |
669.714 |
529.110 |
|
|
|
|
|
|
TOTAL |
1210.894 |
1171.846 |
1035.817 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1901.365 |
1538.400 |
1285.732 |
|
|
|
Other Income |
0.258 |
0.271 |
0.317 |
|
|
|
TOTAL (A) |
1901.623 |
1538.671 |
1286.049 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1500.182 |
1186.218 |
978.401 |
|
|
|
Manufacturing and Operating
Costs |
0.000 |
84.584 |
72.141 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(0.647) |
(33.109) |
(24.638) |
|
|
|
Employees benefits expense |
46.262 |
45.655 |
35.513 |
|
|
|
Other expenses |
181.546 |
95.957 |
80.763 |
|
|
|
TOTAL (B) |
1727.343 |
1379.305 |
1142.180 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
174.280 |
159.366 |
143.869 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.492 |
48.017 |
42.861 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
122.788 |
111.349 |
101.008 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
37.110 |
35.559 |
30.541 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
85.678 |
75.790 |
70.467 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.750 |
13.021 |
11.741 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
71.928 |
62.769 |
58.726 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
860.509 |
0.000 |
|
|
|
Capital Goods |
NA |
9.366 |
508.055 |
|
|
TOTAL IMPORTS |
NA |
869.875 |
508.055 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.22 |
8.05 |
7.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.78 |
4.08 |
4.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.51 |
4.93 |
5.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.08 |
6.57 |
6.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.23 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.93 |
1.00 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07 |
1.07 |
1.05 |
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 |
78.003 |
78.003 |
78.003 |
|
Reserves & Surplus |
206.065 |
250.581 |
304.258 |
|
Net
worth |
284.068 |
328.584 |
382.261 |
|
|
|
|
|
|
long-term borrowings |
198.083 |
159.359 |
85.950 |
|
Short term borrowings |
155.104 |
168.473 |
269.110 |
|
Total
borrowings |
353.187 |
327.832 |
355.060 |
|
Debt/Equity
ratio |
1.243 |
0.998 |
0.929 |
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 |
1285.732 |
1538.400 |
1901.365 |
|
|
|
19.652 |
23.594 |
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 |
1285.732 |
1538.400 |
1901.365 |
|
Profit |
58.726 |
62.769 |
71.928 |
|
|
4.57% |
4.08% |
3.78% |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
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 |
No |
|
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 |
10465658 |
23/10/2013 |
150,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B91735332 |
|
2 |
10338943 |
26/04/2012 * |
80,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B38779864 |
|
3 |
10339071 |
06/02/2012 * |
80,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B34108969 |
|
4 |
10338949 |
06/02/2012 * |
100,000,000.00 |
ICICI BANK LIMITED |
JMC HOUSE, OPPOSITE OF PARIMAL GARDEN, OFF C.G. ROAD, AMBAWAD, AHMEDABAD, GUJARAT -380006, INDIA |
B34106047 |
|
5 |
10233529 |
07/12/2013 * |
584,500,000.00 |
IDBI BANK LIMITED |
GROUND FLOOR, C7, G BLOCK, OPPOSITE NSE, BANDRA K |
B91394627 |
|
6 |
10195119 |
30/04/2013 * |
200,000,000.00 |
STANDARD CHARTERED BANK (ACTING AS A SECURITY AGENT) |
CREDIT RISK CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
B75137067 |
* Date of charge modification
FIXED ASSETS
· Land
· Plant & Equipment
· Laboratory Testing Equipment
· Electric Installation
· Dies & Moulds
· Computers
· Office Equipment
· Furniture & Fixture
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2014
Rs. In Millions
|
Sr. No. |
Particulars |
30.06.2014 |
|
|
|
|
(Unaudited) |
|
|
1 |
|
Income from
Operations |
|
|
|
a |
Gross Sales / Income from Operations |
573.719 |
|
|
|
Less : Excise Duty |
61.466 |
|
|
|
Net Sales / Income from Operations |
512.253 |
|
|
b |
Other Operating Income |
- |
|
|
|
Total Income from
operations (net) (a+b) |
512.253 |
|
2 |
|
Expenditure :- |
|
|
|
a |
Cost of materials consumed |
399.256 |
|
|
b |
Purchases of stock-in-trade |
- |
|
|
c |
Changes in inventories of finished goods, work-in-progress and stock-in trade |
8.423 |
|
|
d |
Employees benefits expense |
11.833 |
|
|
e |
Depreciation and amortisation expense |
9.302 |
|
|
f |
Other Expenses |
43.409 |
|
|
g |
Total Expenditure |
472.223 |
|
3 |
|
Profit from Operations before Other Income, finance costs
and exceptional Items |
40.030 |
|
4 |
|
Other Income |
0.273 |
|
5 |
|
Profit from ordinary activities before finance costs and
exceptional Items |
40.304 |
|
6 |
|
Finance Costs |
15.139 |
|
7 |
|
Profit from ordinary activities after finance costs but before exceptional items (5-6) |
25.165 |
|
8 |
|
Exceptional Items |
- |
|
9 |
|
Profit From Ordinary Activities Before Tax (7+8) |
25.165 |
|
10 |
|
Tax Expenses |
3.640 |
|
11 |
|
Net Profit from Ordinary Activities after tax (9-10) |
21.525 |
|
12 |
|
Extraordinary Item |
- |
|
13 |
|
Net Profit For the period (11 -12) |
21.525 |
|
14 |
|
Paid -up equity share capital (Face value –Rs.10 each) |
78.003 |
|
15 |
|
Reserve excluding Revaluation Reserves as per Balance Sheet of previous accounting year |
- |
|
16 |
|
Earnings Per Share (EPS) of Rs 10 each. |
|
|
|
|
Basic and Diluted EPS before Exceptional items (Rs.) |
2.76 |
|
|
|
Basic and Diluted EPS after Exceptional items (Rs.) |
2.76 |
|
|
|
|
|
|
A |
|
Particulars of Shareholding |
|
|
1 |
|
Public Shareholding |
|
|
|
a |
Number of Shares |
1,950,174 |
|
|
b |
Percentage of Share Holding |
25.00% |
|
2 |
|
Promoter & 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 |
5,850,126 |
|
|
|
Percentage of Shares (as a % of the total shareholding of promoter and promoter group) |
100% |
|
|
|
Percentage of Shares (as a % of the total share capital of the company) |
75% |
|
|
|
|
|
|
B |
|
Investor Complaints |
|
|
|
|
Pending at the begining of the quarter |
NIL |
|
|
|
Received during the quarter |
4 |
|
|
|
Disposed of during the quarter |
4 |
|
|
|
Remaining unresolved at the end of the quarter |
NIL |
Note
· The above Financial Results have been reviewed by the Audit Committee and taken on record by the Board at its Meeting held on 8th August 2014. Limited review of the same has been carried out by the statutory auditors of the company in terms of clause 41 of the Listing agreement.
· The Company's operations fall under a single segment i.e. polymer products.
· # The figures of last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures up to third quarter of that financial year.
· The depreciation has been provided as per the Schedule XIV of the Companies Act, 1956. However the revised depreciation as per the Schedule II of the Companies Act, 2013 will be provided at the end of the year.
· The figures for the corresponding periods in the previous periods have been regrouped and reclassified wherever necessary to make them comparable with the figures for the current periods.
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.60.73 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.81.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
54 |
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.