MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
WIRES
AND FABRIKS (SA) LIMITED |
|
|
|
|
Registered Office : |
7,
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation : |
09.03.1957 |
|
|
|
|
Com. Reg. No.: |
023379 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 30.563 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L29265WB1957PLC023379 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALWO2466C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACW2586L |
|
|
|
|
Legal Form : |
Public
Limited liability company. The company’s shares are listed on stock exchange. |
|
|
|
|
Line of Business : |
The company is engaged in the manufacture and sale of paper
machine clothing in India. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payment terms
are reported as usually correct. In
view of experienced promoters, the company can be considered 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 |
|
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 |
CARE |
|
Rating |
Long term bank facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
February 18, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
February 18, 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.: 91-33-40124012
LOCATIONS
|
Registered Office : |
7,
|
|
Tel. No.: |
91-33-22370116/17/
252217205/ 8952 / 40124012 |
|
Fax No.: |
91-33-22257136/
22372721 / 22372712 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/ Factory : |
63,
Industrial Area, Jhotwara, Jaipur-302012, Rajasthan, India |
|
Tel. No.: |
91-141-2341722 |
|
Fax No.: |
91-141-2340689/
2340078 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at:-
|
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Satish Ajmera |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Dinkarray Durgashankar Trivedi |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Mohan Lal Bhagat |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Vinod Kumar Ladia |
|
Designation : |
Director |
|
|
|
|
Name : |
Subrata
Kumar Mitra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Devesh Khaitan |
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Mr.
Mahendra Kumar Khaitan |
|
Designation : |
Joint
Managing Director |
|
|
|
|
Name : |
Mr.
Kishan Kumar Khaitan |
|
Designation : |
Managing
Director |
|
Name : |
Mr.
Basant Kumar Khaitan |
|
Designation : |
Chairman
cum Managing Director |
KEY EXECUTIVES
|
Name : |
Mr.
Amit Dhanuka |
|
Designation : |
Company
Secretary |
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 |
|
|
|
|
|
|
|
|
21000 |
0.69 |
|
|
2270056 |
74.28 |
|
|
0 |
0.00 |
|
|
2291056 |
74.96 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2291056 |
74.96 |
|
|
|
|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1200 |
0.04 |
|
|
450 |
0.01 |
|
|
1650 |
0.05 |
|
|
|
|
|
|
36554 |
1.20 |
|
|
|
|
|
|
566997 |
18.55 |
|
|
149762 |
4.90 |
|
|
10231 |
0.33 |
|
|
10231 |
0.33 |
|
|
763544 |
24.98 |
|
Total Public
shareholding (B) |
765194 |
25.04 |
|
|
|
|
|
Total (A)+(B) |
3056250 |
100.00 |
|
|
|
|
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
(1) Promoter and
Promoter Group |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
|
|
Total
(A)+(B)+(C) |
3056250 |
100.00 |
%20LIMITED%20-%20281675%2020-Aug-2014_files/image002.gif){kind=small}
(1) Indian%20LIMITED%20-%20281675%2020-Aug-2014_files/image003.gif){kind=small}
Individuals / Hindu Undivided Family%20LIMITED%20-%20281675%2020-Aug-2014_files/image004.gif){kind=small}
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million%20LIMITED%20-%20281675%2020-Aug-2014_files/image013.gif)
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the manufacture and sale of paper
machine clothing in India. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
S.S. Kothari and Company Chartered Accountant |
|
|
|
|
Memberships : |
Confederation of Indian Industry |
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|
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|
Enterprises over which key management personnel exercise significant
influence : |
|
|
Holding Company : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- Each |
Rs.250.000 Millions |
|
1000000 |
Redeemable Preference Share |
Rs.10/- Each |
Rs.10.000 Millions |
|
|
Total |
|
Rs.260.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3056250 |
Equity Shares |
Rs.10/- Each |
Rs.30.563
Millions |
|
|
|
|
|
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 |
30.563 |
30.563 |
30.563 |
|
(b) Reserves & Surplus |
393.108 |
392.255 |
400.806 |
|
(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) |
423.671 |
422.818 |
431.369 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
246.913 |
308.784 |
388.075 |
|
(b) Deferred tax liabilities
(Net) |
54.165 |
71.588 |
83.725 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
11.029 |
9.528 |
14.295 |
|
Total
Non-current Liabilities (3) |
312.107 |
389.900 |
486.095 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
145.916 |
111.646 |
30.291 |
|
(b) Trade payables |
77.128 |
69.685 |
38.296 |
|
(c) Other current liabilities |
133.121 |
115.188 |
118.304 |
|
(d) Short-term provisions |
41.832 |
36.458 |
29.336 |
|
Total
Current Liabilities (4) |
397.997 |
332.977 |
216.227 |
|
|
|
|
|
|
TOTAL |
1,133.775 |
1,145.695 |
1,133.691 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
467.683 |
563.995 |
633.661 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
24.514 |
2.704 |
19.751 |
|
(iv) Intangible assets under
development |
8.539 |
8.419 |
6.365 |
|
(b) Non-current Investments |
0.055 |
0.055 |
0.088 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.576 |
4.479 |
4.122 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
503.367 |
579.652 |
663.987 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
195.568 |
135.536 |
110.836 |
|
(c) Trade receivables |
324.509 |
363.028 |
292.434 |
|
(d) Cash and cash equivalents |
53.264 |
8.923 |
17.061 |
|
(e) Short-term loans and
advances |
24.268 |
28.041 |
19.891 |
|
(f) Other current assets |
32.799 |
30.515 |
29.482 |
|
Total
Current Assets |
630.408 |
566.043 |
469.704 |
|
|
|
|
|
|
TOTAL |
1,133.775 |
1,145.695 |
1,133.691 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
929.623 |
844.898 |
825.235 |
|
|
Other Income |
2.880 |
6.065 |
9.169 |
|
|
TOTAL
(A) |
932.503 |
850.963 |
834.404 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
248.132 |
200.704 |
171.910 |
|
|
Purchases of Stock-in-Trade |
69.011 |
85.204 |
70.810 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(6.936) |
(3.406) |
(7.022) |
|
|
Employees benefits expense |
176.003 |
143.283 |
122.111 |
|
|
Other expenses |
305.470 |
285.064 |
284.686 |
|
|
TOTAL
(B) |
791.680 |
710.849 |
642.495 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
140.823 |
140.114 |
191.909 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.946 |
39.130 |
40.135 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
100.877 |
100.984 |
151.774 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
70.358 |
83.967 |
87.969 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
30.519 |
17.017 |
63.805 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
0.596 |
0.851 |
13.167 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
29.923 |
16.166 |
50.638 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
265.478 |
241.643 |
243.219 |
|
|
Other Income |
0.065 |
0.000 |
1.702 |
|
|
TOTAL
EARNINGS |
265.543 |
241.643 |
244.921 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
187.025 |
138.944 |
107.269 |
|
|
Components and Stores parts |
16.224 |
15.868 |
10.286 |
|
|
Capital Goods |
25.854 |
1.721 |
1.129 |
|
|
TOTAL
IMPORTS |
229.103 |
156.533 |
118.684 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
9.79 |
5.29 |
16.57 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.21 |
1.90 |
6.07 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.28 |
2.01 |
7.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.77 |
1.50 |
5.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.04 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt
/Networth) |
|
0.92 |
0.99 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.70 |
2.17 |
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 |
30.563 |
30.563 |
30.563 |
|
Reserves & Surplus |
400.806 |
392.255 |
393.108 |
|
Net
worth |
431.369 |
422.818 |
423.671 |
|
|
|
|
|
|
long-term borrowings |
388.075 |
308.784 |
246.913 |
|
Short term borrowings |
30.291 |
111.646 |
145.916 |
|
Total
borrowings |
418.366 |
420.430 |
392.829 |
|
Debt/Equity
ratio |
0.970 |
0.994 |
0.927 |
%20LIMITED%20-%20281675%2020-Aug-2014_files/image008.gif)
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 |
825.235 |
844.898 |
929.623 |
|
|
|
2.383 |
10.028 |
%20LIMITED%20-%20281675%2020-Aug-2014_files/image014.gif)
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 |
825.235 |
844.898 |
929.623 |
|
Profit/(Loss) After Tax |
50.638 |
16.166 |
29.923 |
|
|
6.14% |
1.91% |
3.22% |
%20LIMITED%20-%20281675%2020-Aug-2014_files/image012.gif)
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 |
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 |
No |
|
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 |
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10418195 |
14/09/2013 * |
370,000,000.00 |
State Bank of
Bikaner & Jaipur |
Jhotwara
Industrial Area, Jaipur, Rajasthan - 3020 |
B85662112 |
|
2 |
10066322 |
14/09/2013 * |
440,000,000.00 |
State Bank of
Bikaner & Jaipur |
Jhotwara
Industrial Area, Jaipur, Rajasthan - 3020 |
B85662401 |
|
3 |
80031256 |
14/09/2013 * |
115,000,000.00 |
State Bank of
Bikaner & Jaipur |
Jhotwara
Industrial Area, Jaipur, Rajasthan - 3020 |
B85661148 |
|
4 |
90250326 |
03/12/2013 * |
284,400,000.00 |
State Bank of
Bikaner & Jaipur being Consortium Le |
Jhotwara
Industrial Area, Jaipur, Rajasthan - 3020 |
B92217546 |
|
5 |
80031255 |
12/02/1998 |
6,000,000.00 |
ICICI BANKING
CORPORATION LTD |
SREEJI TOWERS,
C-99 SUBHASH MARG, JAIPUR, Rajastha |
- |
|
6 |
90249712 |
26/02/1990 * |
1,300,000.00 |
STATE BANK OF
BIKNER AND JAIPUR |
UDOG BHAVAN ;
TILAK MARG, JAIPUR, Rajasthan, INDIA |
- |
* Date of charge modification
OPERATIONS AND FUTURE OUTLOOK During the year, the current economic scenario affected the company seriously. The company closed the financial year with a marginal increase in turn over. Profits came under pressure mainly due to lower than projected increase in turnover and increase in costs. However, the company continues to maintain its leadership due to continued thrust on new product development and technical up-gradation. A number of steps taken to reduce costs and increase market penetration will lead to improved performance in the coming years. The current economic scenario may however continue to affect the results of the Company in the short term. With economic improvement, the Indian Paper Industry is expected to grow at a higher rate than the GDP growth, specially in the packaging segment. Additionally, with renewed thrust on exports, the expansion cum modernisation once completed, will enable the Company to enter new markets.MANAGEMENT DISCUSSION AND ANALYSIS REPORT
INDUSTRY STRUCTURE AND DEVELOPMENTS:
The Company mainly deals in technical products for the Paper Industry. The
Paper Industry in
OPPORTUNITIES AND THREATS:
Growth in the Paper Industry is a foregone conclusion.
Besides growth in the domestic sector, growth opportunity also exists in the
export sector, as
FUTURE OUTLOOK:
Company’s modernization project, considering the strengthening of domestic off take and of exports and increase in off take of new products, is underway. This will improve the performance in the forthcoming years. The current economic scenario may however affect the results in short term.
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) |
|
|
216.140 |
|
|
(b) Other operating income |
|
|
0.050 |
|
|
Total Income from Operations |
|
|
216.190 |
|
2 |
Expenses |
|
|
|
|
|
Cost of material Consumed |
|
|
74.302 |
|
|
Purchase stock in trade |
|
|
23.373 |
|
|
Changes in
Inventories of Finished goods, Work in progress and Stock in trade |
|
|
(16.307) |
|
|
Employee benefits Expense |
|
|
41.175 |
|
|
Depreciation |
|
|
15.628 |
|
|
Power and fuel |
|
|
0.000 |
|
|
Outward & clearing charges |
|
|
0.000 |
|
|
Packing material |
|
|
0.000 |
|
|
Other expenditure |
|
|
65.991 |
|
|
Total |
|
|
|
|
3 |
Profit from Operations before
Other Income, Interest & Exceptional Items (1- 2) |
|
|
204.162 |
|
4 |
Other Income |
|
|
0.478 |
|
5 |
Profit from Ordinary activities
before Finance Cost and exceptional items |
|
|
12.506 |
|
6 |
Finance Costs |
|
|
10.065 |
|
7 |
Profit from Ordinary activities after
Finance Cost but before exceptional items (5 - 6) |
|
|
2.441 |
|
8 |
Exceptional Items |
|
|
0.000 |
|
9 |
Profit from Ordinary activities
before Tax (7 - 8) |
|
|
2.441 |
|
10 |
Tax
expense |
|
|
(0.489) |
|
11 |
Profit from
Ordinary activities after Tax (9 - 10) |
|
|
2.930 |
|
12 |
Extraordinary Items (net of tax expense) |
|
|
0.000 |
|
13 |
Net Profit
for the period (11 - 12) |
|
|
2.930 |
|
14 |
Paid-up share capital (Face Value of Rs.10/- each) |
|
|
30.563 |
|
15 |
Reserves
excluding Revaluation Reserve |
|
|
|
|
16 |
Earnings per Share |
|
|
|
|
|
(a) Basic Earning per share (Rs.)* |
|
|
0.96 |
|
|
(b) Diluted Earning per share (Rs)* |
|
|
0.96 |
|
|
|
|
|
|
|
|
Part II A. Particulars of Shareholding |
|
|
|
|
1 |
Public Shareholding |
|
|
|
|
|
- No. of Shares |
|
|
765194 |
|
|
-% of Shareholding |
|
|
25.04 |
|
2 |
Promoters and Promoter group
Shareholding |
|
|
|
|
a |
Pledged / Encumbered |
|
|
|
|
|
-Number of
Shares |
|
|
Nil |
|
|
- Percentage of Shares (as a % of the total shareholding
of promoter and promoter group) |
|
|
Nil |
|
|
- Percentage of Shares (as a % of the total Share capital
of the Company) |
|
|
Nil |
|
b |
Non-encumbered |
|
|
|
|
|
- Number of Shares |
|
|
2291056 |
|
|
- 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) |
|
|
74.96 |
|
B |
INVESTOR COMPLAINTS |
Quarter Ended 30.06.2014 |
|
|
Pending at the beginning
of the quarter |
Nil |
|
|
Received during the
quarter |
Nil |
|
|
Disposed of during the
quarter |
Nil |
|
|
Remaining unresolved at
the end of the quarter |
Nil |
SEGMENT WISE
REVENUE, RESULTS AND CAPITAL EMPLOYED
|
Sr. No. |
Particular |
|
|
Quarter Ended 30.06.2014 |
|
|
|
|
|
(Unaudited) |
|
1. |
Segment Revenue |
|
|
|
|
|
Paper Mills Products |
|
|
212.658 |
|
|
Wind Power |
|
|
3.814 |
|
|
Unallocated |
|
|
0.000 |
|
|
TOTAL |
|
|
216.472 |
|
|
|
|
|
|
|
|
Less: Inter Segment
Revenue |
|
|
0.332 |
|
|
|
|
|
|
|
|
Net Sales/Income
From Operations |
|
|
216.140 |
|
|
|
|
|
|
|
1. |
Segment Revenue |
|
|
|
|
|
Paper Mills Products |
|
|
24.755 |
|
|
Wind Power |
|
|
(1.326) |
|
|
Unallocated |
|
|
0.000 |
|
|
TOTAL |
|
|
23.429 |
|
|
|
|
|
|
|
|
Less: |
|
|
|
|
|
Interest Income |
|
|
10.033 |
|
|
Other Un-allocable Expenditure net off Un-allocable income |
|
|
10.955 |
|
|
|
|
|
|
|
|
TOTAL PROFIT
BEFORE TAX |
|
|
2.441 |
|
|
|
|
|
|
|
3. |
CAPITAL EMPLOYED |
|
|
|
|
|
(Segment
Assets-Segment Liabilities) |
|
|
|
|
|
Paper Mills Products |
|
|
796.414 |
|
|
Wind Power |
|
|
98.570 |
|
|
Unallocated |
|
|
173.388 |
|
|
TOTAL |
|
|
721.596 |
Note :
- The above
Results were reviewed by the Audit committee there after approved by the
board of directors at their respective meetings held on 13.08.2014.
- Previous
year/quarter figure have been re-arranged / re-grouped wherever considered
necessary.
- Schedule II
the companies Act, 2013, prescribes the useful lives of various type of
assets and determination of depreciation accordingly, w.e.f. 01.04.2014.
pending determination of revised useful lives, the company continuous to
provide depreciation at the rate being followed hitherto. Necessary
effect, if required, will be given in subsequent quorters
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 : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
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 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
48 |
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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.