MIRA INFORM REPORT
|
Report Date : |
01.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
STOVEC INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
NIDC, Near Lambha Village, Post- Narol, Ahmedabad-382405, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.06.1973 |
|
|
|
|
Com. Reg. No.: |
04-050790 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 20.880 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200GJ1973PLC050790 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Divulged |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
Manufacturer of printing Machine / Nickle Screen. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are reported
to be regular and as per commitment. The company can be considered good 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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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 PARTED BY
|
Name : |
Ms. Shipla |
|
Designation : |
Assistant Manager |
|
Contact No.: |
91-79-30412300 |
|
Date : |
02.12.2014 |
LOCATIONS
|
Registered Office / Factory: |
NIDC, Near Lambha Village, Post- Narol, Ahmedabad-382405, Gujarat,
India |
|
Tel. No.: |
91-79-30412300 |
|
Fax No.: |
91-79-25710406 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. K. M. Thanawalla |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Dirk W. Joustra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Aschwin N.R.M. Hollander |
|
Designation : |
Director |
|
|
|
|
Name : |
CA. Girish C. Sharedalal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Joost Smits |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Marco Philippus A. Wadia |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shailesh Wani Managing |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Shipla |
|
Designation : |
Assistant Manager |
|
|
|
|
Name : |
Ms. Varsha Adhikari |
|
Designation : |
Company Secretory |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
|
|
|
|
1482493 |
71.00 |
|
|
1482493 |
71.00 |
|
Total shareholding of Promoter and Promoter Group (A) |
1482493 |
71.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
200 |
0.01 |
|
|
2051 |
0.10 |
|
|
2251 |
0.11 |
|
|
|
|
|
|
54414 |
2.61 |
|
|
|
|
|
|
486961 |
23.32 |
|
|
38201 |
1.83 |
|
|
23696 |
1.13 |
|
|
5385 |
0.26 |
|
|
5864 |
0.28 |
|
|
12273 |
0.59 |
|
|
50 |
0.00 |
|
|
124 |
0.01 |
|
|
603272 |
28.89 |
|
Total Public shareholding (B) |
605523 |
29.00 |
|
Total (A)+(B) |
2088016 |
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) |
2088016 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of printing Machine / Nickle Screen. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
|
|
Products : |
Finish Goods |
|
Countries : |
Netherland |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Netherland |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque and Credit |
|
|
|
|
Purchasing : |
Cheque and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
|
|
|
|
Customers : |
Others |
|
|
|
|
No. of Employees : |
200 (Approximately) |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountant |
|
|
|
|
Memberships : |
----- |
|
|
|
|
Collaborators : |
----- |
|
|
|
|
Holding Company : |
SPG Prints B.V. (Formerly known as Stork Prints B.V.), The Netherlands |
|
|
|
|
Unlimited Holding Company : |
SPG Prints Group B.V. (Formerly known as Stork Prints Group B.V.), The Netherlands |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2900000 |
Equity Shares |
Rs.10/- each |
Rs. 29.000 Millions |
|
10000 |
Preference Share |
Rs.10/- each |
Rs. 1.000 Millions |
|
|
TOTAL |
|
Rs. 30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2088016 |
Equity Shares |
Rs.10/- each |
Rs. 20.880
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
20.880 |
20.880 |
20.880 |
|
(b) Reserves & Surplus |
483.247 |
414.247 |
366.220 |
|
(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) |
504.127 |
435.127 |
387.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
8.145 |
7.998 |
6.155 |
|
(c) Other long term
liabilities |
1.146 |
1.111 |
2.061 |
|
(d) long-term
provisions |
23.957 |
21.239 |
18.280 |
|
Total Non-current
Liabilities (3) |
33.248 |
30.348 |
26.496 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
78.257 |
91.081 |
92.722 |
|
(c) Other current
liabilities |
50.272 |
37.499 |
40.316 |
|
(d) Short-term
provisions |
42.003 |
36.344 |
29.031 |
|
Total Current
Liabilities (4) |
170.532 |
164.924 |
162.069 |
|
|
|
|
|
|
TOTAL |
707.907 |
630.399 |
575.665 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
125.648 |
132.030 |
120.118 |
|
(ii)
Intangible Assets |
1.101 |
0.620 |
1.641 |
|
(iii)
Capital work-in-progress |
4.630 |
1.403 |
0.293 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.003 |
19.881 |
0.003 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
16.494 |
20.528 |
18.612 |
|
(e) Other Non-current
assets |
1.879 |
2.579 |
1.889 |
|
Total Non-Current
Assets |
149.755 |
177.041 |
142.556 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
29.368 |
0.000 |
5.005 |
|
(b)
Inventories |
108.757 |
101.593 |
132.929 |
|
(c) Trade
receivables |
133.061 |
124.067 |
116.460 |
|
(d) Cash
and cash equivalents |
265.716 |
210.950 |
154.632 |
|
(e)
Short-term loans and advances |
11.147 |
9.108 |
18.707 |
|
(f) Other
current assets |
10.103 |
7.640 |
5.376 |
|
Total
Current Assets |
558.152 |
453.358 |
433.109 |
|
|
|
|
|
|
TOTAL |
707.907 |
630.399 |
575.665 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
772.756 |
730.890 |
601.685 |
|
|
|
Other Income |
34.654 |
31.154 |
26.253 |
|
|
|
TOTAL (A) |
807.410 |
762.044 |
627.938 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
372.640 |
371.868 |
349.141 |
|
|
|
Purchases of Stock-in-Trade |
70.091 |
56.086 |
46.233 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(10.498) |
12.168 |
(35.003) |
|
|
|
Employees benefits expense |
87.202 |
86.722 |
71.505 |
|
|
|
Other expenses |
121.073 |
111.743 |
111.738 |
|
|
|
TOTAL (B) |
640.508 |
638.587 |
543.614 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
166.902 |
123.457 |
84.324 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.758 |
1.000 |
0.748 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
166.144 |
122.457 |
83.576 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.960 |
15.429 |
14.879 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
151.184 |
107.028 |
68.697 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
45.369 |
33.035 |
21.262 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
105.815 |
73.993 |
47.435 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
195.478 |
154.951 |
128.940 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
11.000 |
7.500 |
14.303 |
|
|
|
Dividend on equity share |
31.320 |
22.342 |
2.320 |
|
|
|
Tax on Dividend |
5.323 |
3.625 |
4.800 |
|
|
|
Short Provisional on earlier years
dividend |
0.172 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
253.478 |
195.478 |
154.951 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
85.995 |
43.212 |
NA |
|
|
TOTAL EARNINGS |
85.995 |
43.212 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
221.622 |
201.258 |
227.676 |
|
|
|
Stores & Spares |
1.765 |
1.387 |
0.468 |
|
|
|
Capital Goods |
0.719 |
5.877 |
1.641 |
|
|
|
Others |
43.805 |
38.231 |
32.989 |
|
|
TOTAL IMPORTS |
267.911 |
246.753 |
262.774 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
50.68 |
35.44 |
22.72 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PAT/Sales) |
(%) |
13.69 |
10.12 |
7.88 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
21.60 |
16.89 |
14.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
21.50 |
17.57 |
11.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30 |
0.25 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.27 |
2.75 |
2.67 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
20.880 |
20.880 |
20.880 |
|
Reserves & Surplus |
366.220 |
414.247 |
483.247 |
|
Net
worth |
387.100 |
435.127 |
504.127 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
601.685 |
730.890 |
772.756 |
|
|
|
21.474 |
5.728 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
601.685 |
730.890 |
772.756 |
|
Profit |
47.435 |
73.993 |
105.815 |
|
|
7.88% |
10.12% |
13.69% |
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
PERFORMANCE
OVERVIEW:
The Company has
achieved revenue from operations of Rs. 772.760 Million (Previous year Rs.
730.900 Million). The volatility in exchange rate and liquidity issues has
impacted growth in revenues. Your Company has achieved Profit before tax of Rs.
151.180 Million (Previous year RS. 107.030 Million).
Export turnover
stood at Rs. 81.410 Million; marking a growth of about 98 % in comparison to
prior year.
INDUSTRY STRUCTURE
& DEVELOPMENT:
Stovec is a part of
SPGPrints Group, The Netherland (Formerly known as Stork Group) and is a Market
leader in Rotary Screens and Printing Machines. Stovec essentially operates in
three customer segments
viz. Textile
Printing, Graphics Printing and Sugar Filtration.
The textile
industry is highly fragmented sector and comprises of small scale,
non-integrated spinning, weaving and apparel making enterprises. The large part
of Stovec’s product portfolio goes into textile industry which accounts for
around 4% of GDP, 14% of industrial production, 17 % of country’s total export
earnings and is country’s 2nd largest industry in terms of employment
generation. During the year,
performance of the
textile industry has been moderate.
Indian Graphic
Industry and more specifically Label Printing Industry is developing strongly
and is growing by about 8 %. Entry of International Brands will play a key role
in pouring the demand driven by a need for high quality label printing.
Stovec is in Sugar
Screen business for some years now. Decontrol of Sugar Industry and abolition
of curbs on open market sale is a significant development in the Sugar Industry
and will help Sugar Mills to reduce inventory carrying cost and might help
improve their liquidity position. This move is positive for Sugar Mills in long
run.
OUTLOOK &
OPPORTUNITIES:
The Indian economy
has grown moderately in last few years and in 2014 also it is expected to grow
in the same line by about 5.0 to 5.5 %. The global economy seems to be
recovering and is expected to grow about 3.7 %. The European continent which
was confronted with slow down for quite a long time is expected to grow by
about 1 % this year, which might positively affect our exports. The process
houses troubled by environmental issues remain to be a concern. With increasing
labour cost, exchange rate fluctuations and volatile commodity prices, the
overall demand outlook in India for the textile industry for financial year
2014 is expected to remain moderate.
UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND NINE MONTHS ENDED 30TH SEPTEMBER, 2014
PART-I (Rs. In Millions)
|
Sr. No |
Particulars |
Standalone |
|
|
Quarter Ended |
|||
|
30.09.2014 |
30.06.2014 |
||
|
Unaudited |
Unaudited |
||
|
1 |
Income From
Operations |
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
220.096 |
224.738 |
|
|
b. Other Operating Income |
3.574 |
0.944 |
|
|
Total Income from
Operations (Net) |
223.670 |
225.682 |
|
2 |
Expenditure |
|
|
|
|
a. Cost of material Consumed |
129.237 |
98.397 |
|
|
b. Purchases of stock in trade |
21.732 |
28.322 |
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade27.601 |
(38.117) |
(10.096) |
|
|
d. Employees Benefit Expenses |
30.202 |
27.601 |
|
|
e. Depreciation and Amortisation Expenses |
8.139 |
5.710 |
|
|
f. Other expenses |
39.471 |
29.420 |
|
|
Total Expenses |
190.664 |
179.354 |
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
33.006 |
46.328 |
|
4 |
Other Income |
7.082 |
8.459 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
40.088 |
54.787 |
|
6 |
Finance Costs |
0.163 |
0.128 |
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
39.925 |
54.659 |
|
8 |
Exceptional items |
-- |
-- |
|
9 |
Profit from
ordinary activities before tax |
39.925 |
54.659 |
|
10 |
Tax Expense |
--- |
-- |
|
|
- Income Tax |
13.970 |
18.341 |
|
|
- Current Tax-MAT Tax |
-- |
-- |
|
11 |
Net Profit from ordinary
activity after tax |
25.955 |
36.318 |
|
12 |
Extraordinary Items |
-- |
-- |
|
13 |
Net Profit After
Tax |
25.955 |
36.318 |
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
20.880 |
20.880 |
|
15 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
|
|
|
16 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
Basic EPS |
12.43 |
17.39 |
|
|
Diluted EPS |
12.43 |
17.39 |
PART-II
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
1. |
Public Shareholding |
|
|
|
|
- No. of shares |
605523 |
605523 |
|
|
- Percentage of shareholding |
29.00 |
29.00 |
|
2. |
Promoter &
Promoter Group Shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- No. of shares |
--- |
--- |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
N.A. |
N.A. |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
N.A. |
N.A. |
|
|
b) Non-encumbered |
|
|
|
|
- No. of shares |
1482493 |
1482493 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
71.00 |
71.00 |
|
Particulars |
3 Months ended
30.09.2014 |
|
INVESTOR
COMPLAINTS Pending at the
beginning of the quarter Receiving during
the quarter Disposed of
during quarter Remaining
unresolved at end of the quarter |
NIL 2 2 NIL |
UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND NINE MONTHS ENDED 30TH SEPTEMBER, 2014
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
|
31.09.2014 |
31.03.2014 |
|
1. Segment
Revenue (Sales and other Operating Income from Segment) |
|
|
|
Textile Machinery
and Consumables |
196.764 |
207.660 |
|
Graphic Consumables |
15.273 |
12.479 |
|
Galvanic |
11.633 |
5.543 |
|
Total |
223.670 |
225.682 |
|
Less : Inter Segment Revenue |
-- |
-- |
|
Net
Sales / Income from Operations |
223.670 |
225.682 |
|
|
|
|
|
2.
Segment Result (Profit Before Finance Cost and Tax) |
|
|
|
Textile Machinery
and Consumables |
46.477 |
53.072 |
|
Graphic Consumables |
6.489 |
4.672 |
|
Galvanic |
(8.276) |
(2.483) |
|
Total |
44.690 |
55.261 |
|
Less : Fainace Cost |
0.163 |
0.128 |
|
Less : Unallocable Expenditure Net of
Unallocable Other Income |
4.602 |
0.474 |
|
Total
Profit Bbefore Tax |
39.925 |
54.659 |
|
|
|
|
|
3. Capital
Employed (Segment Assets-Segment Liabilities) |
|
|
|
Textile Machinery
and Consumables |
219.342 |
222.522 |
|
Graphic Consumables |
25.943 |
22.751 |
|
Galvanic |
165.567 |
107.256 |
|
Others /
Unallocable |
180.820 |
213.190 |
|
Total
Capital Employed |
591.672 |
565.719 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90228917 |
08/05/1990 * |
5,000,000.00 |
GIIC LIMITED |
CHUNIBHAI CHAMBERS,
ASHRAM ROAD, AHMEDABAD, MAHAR |
- |
|
2 |
90228427 |
28/06/1991 |
4,991,222.00 |
BANK OF MAHRASHTRA |
LALBAUG, BOMBAY, MAHARASHTRA - 400012, INDIA |
- |
|
3 |
90228296 |
27/03/1991 * |
1,900,000.00 |
IFCI |
EARNEST HOUSE,
NARIMAN POINT, BOMBAY, MAHARASHTRA |
- |
|
4 |
90228290 |
02/05/1990 |
210,875.00 |
THE ICICI LIMITED |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
5 |
90228007 |
04/12/1985 * |
2,500,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
6 |
90227768 |
08/05/1990 * |
5,000,000.00 |
GIIC LIMITED |
CHUNIBHAI CHAMBERS,
ASHRAM ROAD, AHMEDABAD, GUJAR |
- |
|
7 |
90227761 |
08/05/1990 * |
6,774,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
8 |
90227735 |
27/09/1984 |
2,500,000.00 |
THE ICICI LIMITED |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
|
9 |
90227676 |
22/07/1983 |
2,700,000.00 |
ICICI |
163; BACKBAY
RECLAMATION, BOMBAY, MAHARASHTRA - 40 |
- |
* Date of charge modification
FIXED ASSETS
- Land and Building
- Plant and Machinery
- Computers
- Furniture and Fixture
- Office Equipment
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. 62.13 |
|
|
1 |
Rs. 97.05 |
|
Euro |
1 |
Rs. 77.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
53 |
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.