MIRA
INFORM REPORT
|
Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
EL FORGE LIMITED |
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Registered
Office : |
No 21 C.A.R.K.Colony, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
18.07.1934 |
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Com. Reg. No.: |
18 – 000669 |
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Capital
Investment / Paid-up Capital : |
Rs. 324.355 Million |
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CIN No.: [Company Identification
No.] |
L34103TN1934PLC000669 |
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IEC No.: |
Not Divulged |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Divulged |
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PAN No.: [Permanent Account No.] |
Not Divulged |
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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
: |
The company has two business segment 1.
Manufacturer and sale of steel forgings. 2.
Land and Development. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (17) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track. The company has incurred a huge accumulated loss which has eroded the
Net worth of the company during 2014. However, Business is active. Payment terms are slow. The company can be considered for business dealings on safe and
secured trade terms and conditions. Note : The company has
changed its financial year from 30th June to 31st March
from 12 months to 9 Months ranging from 1.07.2013 to 31.03.2014 |
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
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 DENIED BY
|
Name : |
Mr. V. Srinivasan |
|
Designation : |
V. P. Finance |
|
Contact No.: |
91-44-42207800 |
|
Date : |
27.11.2014 |
LOCATIONS
|
Registered
Office : |
No 21 C.A.R.K.Colony, Eldams Road, Alwarpet, Chennai – 600018,
Tamilnadu, India |
|
Tel. No.: |
91-44-42207800 |
|
Fax No.: |
91-44-42014708 |
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E-Mail : |
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Factory 1 : |
1A, Sriperumbudur High Road, Appur Village, Singaperumal Kovil (Via)
Chengelput Raluk, Kancheepuram – 603204, Tamilnadu, India |
|
Tel. No.: |
91-44-47112500 |
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Fax No.: |
91-44-47112523 |
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E-Mail : |
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Factory 2 : |
P. B. No. 11, Denkanikottai Road, Hosur – 635109, Tamilnadu, India |
|
Tel. No.: |
91-(04344) 222486 |
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Fax No.: |
91-(04344) 222841 |
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E-Mail : |
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Factory 3 : |
B-67, SIPCOT Industrial Complex, Gummidipoondi – 601201, Tamilnadu, India |
|
|
91-44 - 27922845 |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. V.Srikanth, |
|
Designation : |
Chairman |
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|
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|
Name : |
Mr. V.Ramachandran, |
|
Designation : |
Director |
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|
Name : |
Mr. .K.V.Ramachandran, |
|
Designation : |
Vice Chairman & Managing Director |
KEY EXECUTIVES
|
Name : |
Mrs. R. Sowmithri |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. V. Srinivasan |
|
Designation : |
V. P. Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals/ Hindu Undivided Family |
1320852 |
6.50 |
|
|
7065006 |
34.76 |
|
|
8385858 |
41.26 |
|
(2)
Foreign |
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
8385858 |
41.26 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
Mutual Funds/ UTI |
1605 |
0.01 |
|
Financial Institutions/ Banks |
990 |
0.00 |
|
|
2595 |
0.01 |
|
|
|
|
|
|
2009757 |
9.89 |
|
|
|
|
|
|
3814800 |
18.77 |
|
|
5978596 |
29.42 |
|
|
132698 |
0.65 |
|
|
81849 |
0.40 |
|
Trusts |
520 |
0.00 |
|
|
50329 |
0.25 |
|
|
11935851 |
58.73 |
|
Total Public
shareholding (B) |
11938446 |
58.74 |
|
Total (A)+(B) |
20324304 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
0 |
0 |
|
|
0 |
0 |
|
|
0 |
0 |
|
|
0 |
0 |
|
Total
(A)+(B)+(C) |
20324304 |
0 |
(1) Indian
Bodies Corporate
Sub Total
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million 
BUSINESS DETAILS
|
Line of Business : |
The company has two business segment 1.
Manufacturer and sale of steel forgings. 2.
Land and Development. |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Imports : |
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Products : |
Not Divulged |
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Countries : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Ř State Bank Of India, Stressed Assets Management Branch, Chennai 600 008, India Ř Union Bank Of India, Industrial Finance Branch, Chennai 600 108, India Ř Axis Bank Ltd. Anna Salai, Chennai 600 002, India Ř Idbi Bank Ltd. Greams Road, Chennai 600 006, India Ř Export Import Bank Of India, Anna Salai, Chennai 600 002, India Ř Edelweiss Asset Reconstruction Company Limited Mumbai – 400 098, India Ř Royal Bank Of Scotland, Harrington Road, Chennai 600 031, India Ř Kotak Mahindra Bank Ltd., Capitale, Anna Salai, Teynampet, Chennai 600 018, India |
|||||||||||||||||||||
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Facilities : |
(Rs. In Millions)
|
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Banking Relations : |
--- |
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Auditors : |
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|
Name : |
P.Rajagopalan & Co. Chartered Accountants |
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Cost Auditors : |
S,Sundar and Associates Cost Accountants |
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Chennai, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiaries : |
Shakespeare Forging Ltd. Macarthur Road, Cradley Health, West Midlands B64 5NX, United Kingdom. |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
26000000 |
Equity Shares |
Rs.10/- each |
Rs.260.000 Million |
|
1300000 |
Preference Share |
Rs.100/- each |
Rs.130.000 Million |
|
Total |
|
|
Rs.390.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20324300 |
Equity Shares |
Rs.10/- each |
Rs. 203.243
Million |
|
1211120 |
Preference Share |
Rs.100/- each |
Rs. 121.112 Million |
|
Total |
|
|
Rs. 324.355 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 (Nine Months) |
30.06.2013 |
30.06.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
324.355 |
324.355 |
323.324 |
|
(b) Reserves & Surplus |
(365.161) |
(251.601) |
92.973 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
1.032 |
|
Total
Shareholders’ Funds (1) + (2) |
(40.806) |
72.754 |
417.329 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
623.769 |
655.829 |
807.409 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
623.769 |
655.829 |
807.409 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
467.708 |
481.098 |
371.983 |
|
(b) Trade payables |
283.854 |
356.763 |
241.216 |
|
(c) Other current
liabilities |
471.603 |
353.546 |
303.988 |
|
(d) Short-term provisions |
2.257 |
2.257 |
2.257 |
|
Total Current Liabilities (4) |
1225.422 |
1193.664 |
919.444 |
|
|
|
|
|
|
TOTAL |
1808.385 |
1922.247 |
2144.182 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1000.028 |
1037.593 |
1110.599 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
30.410 |
30.410 |
35.586 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
39.276 |
47.105 |
47.105 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
19.347 |
79.888 |
83.578 |
|
(e) Other Non-current assets |
160.632 |
159.565 |
158.638 |
|
Total Non-Current Assets |
1249.693 |
1354.561 |
1435.506 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
140.857 |
161.690 |
187.380 |
|
(b) Inventories |
113.116 |
113.116 |
120.300 |
|
(c) Trade receivables |
237.929 |
235.872 |
313.944 |
|
(d) Cash and cash
equivalents |
5.259 |
9.854 |
19.491 |
|
(e) Short-term loans and
advances |
29.814 |
23.712 |
29.610 |
|
(f) Other current assets |
31.717 |
23.442 |
37.951 |
|
Total Current Assets |
558.692 |
567.686 |
708.676 |
|
|
|
|
|
|
TOTAL |
1808.385 |
1922.247 |
2144.182 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
664.961 |
753.329 |
1039.636 |
|
|
|
Other Income |
9.030 |
10.398 |
10.556 |
|
|
|
TOTAL (A) |
673.991 |
763.727 |
1050.192 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
327.091 |
442.850 |
544.643 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
15.396 |
17.831 |
28.060 |
|
|
|
Employees benefits expense |
101.751 |
132.114 |
191.473 |
|
|
|
Other expenses |
251.363 |
287.652 |
390.993 |
|
|
|
TOTAL (B) |
695.601 |
880.447 |
1155.169 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(21.610) |
(116.720) |
(104.977) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.412 |
142.847 |
147.758 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(43.022) |
(259.567) |
(252.735) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
70.538 |
78.636 |
88.204 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(113.560) |
(338.203) |
(340.939) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(113.560) |
(338.203) |
(340.939) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(0.35) |
(1.04) |
(1.05) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
30.06.2013 |
30.06.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(17.08) |
(44.89) |
(32.79) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
(3.25) |
(15.49) |
(10.10) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.53) |
(18.33) |
(16.54) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
2.78 |
(4.65) |
(0.82) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(26.75) |
15.63 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.46 |
0.48 |
0.77 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
323.324 |
324.355 |
324.355 |
|
Reserves & Surplus |
92.973 |
(251.601) |
(365.161) |
|
Share Application money
pending allotment |
1.032 |
0.000 |
0.000 |
|
Net
worth |
417.392 |
72.754 |
(40.806) |
|
|
|
|
|
|
long-term borrowings |
807.409 |
655.829 |
623.769 |
|
Short term borrowings |
371.983 |
481.098 |
467.708 |
|
Total
borrowings |
1179.392 |
1136.927 |
1091.477 |
|
Debt/Equity
ratio |
2.826 |
15.627 |
(26.748) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2012 |
30.06.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1039.636 |
753.329 |
664.961 |
|
|
|
(27.539) |
(11.730) |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2012 |
30.06.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1039.636 |
753.329 |
664.961 |
|
Profit |
(340.939) |
(338.203) |
(113.560) |
|
|
(32.79%) |
(44.89%) |
(17.08%) |
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 |
No |
Overview
The financial statements have been prepared in compliance with the requirements of the Companies Act, 1956,
guidelines issued by the Securities and Exchange Board of India (SEBI) and the Generally Accepted Accounting
Principles (GAAP) in India. Our Management accepts responsibility for the integrity and objectivity of these
financial statements as well as for the various estimates and judgments relating to the financial statements have
been made on a prudent and reasonable basis, so that the financial statements reflect in a true and fair manner the form and substance of transactions, and reasonably present our state of affairs, profits and cash flows for the year.
Outlook
They believe that global opportunities for Companies like us will accrue due to the cost of manufacture being
prohibitive in the West. While they are aware of the risks, they are confident of improving the performance through
appropriate marketing programs. They propose to continue developing capacities and capabilities to cater to the
global supply chain.
STATEMENT OF
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30.09.2014
|
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) |
142.357 |
187.584 |
|
|
|
Less: Excise Duty/ Sale Tax recovered |
12.059 |
14.486 |
|
|
|
a)Net Sales/ Income from Operations |
130.298 |
173.398 |
|
|
|
(Net of Excise Duty) |
|
|
|
|
|
b. Other Operating Income |
0.000 |
0.000 |
|
|
|
Total Income from
Operations (Net) |
130.298 |
173.398 |
|
|
2 |
Expenditure |
|
|
|
|
|
a. Cost of material Consumed |
68.677 |
97.763 |
|
|
|
b. Purchase of Stock-in trade |
0.000 |
0.000 |
|
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
0.037 |
(3.997) |
|
|
|
d. Employees Benefit Expenses |
22.648 |
31.877 |
|
|
|
e. Depreciation and Amortisation Expenses |
24.172 |
24.172 |
|
|
|
f. Other expenses |
50.228 |
65.820 |
|
|
|
Total Expenses |
165.762 |
215.635 |
|
|
3 |
Profit/(Loss) from
Operations before Other Income, Interest and Exceptional Items |
35.464 |
42.237 |
|
|
4 |
Other Income |
0.403 |
1.656 |
|
|
5 |
Profit/(Loss) from ordinary
activities before finance cost & exceptional items |
35.061 |
40.581 |
|
|
6 |
Finance Costs |
3.848 |
3.499 |
|
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
38.909 |
44.080 |
|
|
8 |
Exceptional items |
0.000 |
11.149 |
|
|
9 |
Profit from
ordinary activities before tax |
(38.909) |
(55.229) |
|
|
10 |
Tax Expense |
0.000 |
0.000 |
|
|
11 |
Net Profit from
ordinary activity after tax |
(38.909) |
(55.229) |
|
|
12 |
Extraordinary Items |
0.000 |
0.000 |
|
|
13 |
Net Profit After
Tax |
(38.909) |
(55.229) |
|
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
203.243 |
203.243 |
|
|
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 |
(1.91) |
(2.72) |
|
|
|
Diluted EPS |
(1.91) |
(2.72) |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- No. of shares |
11938446 |
11938446 |
|
|
|
- Percentage of shareholding |
58.74 |
58.74 |
|
|
18 |
Promoter &
Promoter Group Shareholding |
8385858 |
8385858 |
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- No. of shares |
7704600 |
7704600 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
91.88 |
91.88 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
37.90 |
37.90 |
|
|
|
b) Non-encumbered |
|
|
|
|
|
- No. of shares |
681258 |
681258 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
8.12 |
8.12 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
3.35 |
3.35 |
|
UNAUDITED SEGMENT WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In Millions)
|
Particulars |
Quarter
Ended (
Unaudited) |
|
|
|
30.09.2014 |
30.06.2014 |
|
1. Segment Revenue |
|
|
|
Forgings |
130.298 |
173.398 |
|
Land Income |
0.000 |
0.000 |
|
Total Revenue |
130.298 |
173.398 |
|
Segment Results |
|
|
|
Loss on forgings |
(35.464) |
(53.386) |
|
Land Income |
0.000 |
0.000 |
|
Net Profit/ Loss before Interest |
(35.464) |
(53.386) |
|
Add : Interest Cost |
3.848 |
3.499 |
|
Other Income |
0.403 |
1.656 |
|
Previous year tax paid/Provision |
0.000 |
0.000 |
|
Net Profit / Loss |
38.909 |
55.229 |
|
Capital Employed |
|
|
|
Forgings |
531.582 |
570.491 |
|
Land Income |
100.318 |
100.318 |
|
Total |
631.900 |
670.809 |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long Term Borrowing |
|
|
|
From Others – Due from Related Parties |
2.919 |
2.808 |
|
Due From Other |
4.946 |
0.586 |
|
Short Term
Borrowing |
|
|
|
Loans Payable on Demand – From Bank |
0.000 |
0.796 |
|
Deposits |
53.973 |
66.832 |
|
Total |
61.838 |
71.022 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10361653 |
25/07/2013 * |
1,175,600,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, 155, Anna Salai, Chenn |
B80520778 |
|
2 |
10361651 |
25/07/2013 * |
387,600,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, 155, Anna Salai, Chenn |
B80518715 |
|
3 |
10220281 |
22/05/2010 |
22,500,000.00 |
UNION BANK OF INDIA |
Industrial Finance Branch, Riaz Garden, 12, Koda |
A86341658 |
|
4 |
10213766 |
07/10/2010 * |
8,000,000.00 |
AXIS BANK LTD |
Karumuthu Nilayam, 192 Anna Salai, Chennai, Tamil |
A97382394 |
|
5 |
10171845 |
31/07/2009 |
180,800,000.00 |
STATE BANK OF INDIA |
Indsutrial Finance Branch, 155, Anna Salai, Chenn |
A68177682 |
|
6 |
10173989 |
14/08/2009 * |
116,500,000.00 |
Union Bank of India |
Industrial Finance Branch, Riaz Garden,12 Kodamba |
A69603496 |
|
7 |
10153843 |
31/03/2009 |
1,111,000,000.00 |
UNION BANK OF INDIA |
Industrial Finance Branch, 12, Kodambakkam High R |
A60789336 |
|
8 |
10148675 |
14/08/2009 * |
43,800,000.00 |
AXIS BANK LIMITED |
82 DR RADHAKRISHNAN SALAI, MYLAPORE, CHENNAI, Tam |
A70816319 |
|
9 |
10125442 |
14/06/2010 * |
60,000,000.00 |
AXIS BANK LTD |
Karumuthu Nilayam First Floor, 192, Anna Salai, C |
A90493404 |
|
10 |
10085995 |
14/06/2010 * |
5,000,000.00 |
AXIS BANK LTD |
Karumuthu Nilayam First Floor, 192, Anna Salai, C |
A90489485 |
|
11 |
10080101 |
15/04/2011 * |
142,000,000.00 |
THE ROYAL BANK OF SCOTLAND |
74, Sakhar Bhavan, 7th Floor, Nariman Point, Mumb |
B11812153 |
|
12 |
10080784 |
14/08/2009 * |
6,500,000.00 |
EXPORT IMPORT BANK OF INDIA |
Floor 21 Centre One Building, World Trade Centre Cufee Parade, Mumbai, Maharashtra - 400005, India |
A70794540 |
|
13 |
10064099 |
24/03/2008 * |
125,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
Floor 21, Centre One Building, World Trade
Centre , Cufee Parade, Mumbai, Maharashtra - 400005, Indi |
A40778482 |
|
14 |
10039236 |
31/08/2009 * |
142,000,000.00 |
ABN AMRO BANK NV |
74 Sakhar Bhavan 7th Floor, Nariman Point, Mumbai, , Maharashtra - 400001, India |
A71586085 |
|
15 |
10042621 |
07/02/2007 |
10,000,000.00 |
UTI BANK LTD |
Trishul 3rd Floor Opp Samartheshwar Temple, Law G |
A10648616 |
|
16 |
10014284 |
03/06/2010 * |
15,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
Floor 21, Center One Building, World Trade Centre |
A90303991 |
|
17 |
10010097 |
12/06/2006 |
13,500,000.00 |
UNION BANK OF INDIA |
Industrial Finance Branch, Riaz Garden Kodambakka |
A02686194 |
|
18 |
80033305 |
04/03/2009 * |
248,500,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, 155, Anna Salai, Chenn |
A58360819 |
|
19 |
90290748 |
19/03/2008 * |
102,000,000.00 |
UNION BANK OF INDIA |
Industrial Finance Branch, Riaz Garden, Kodambakk |
A39145784 |
|
20 |
80034101 |
14/06/2010 * |
97,500,000.00 |
AXIS BANK LTD |
Karumuthu Nilayam First Floor, 192, Anna Salai, C |
A90510595 |
* Date of charge modification
FIXED ASSETS
·
Land
·
Land (Lease Hold)
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicle
·
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 records 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 : |
HNA |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
17 |
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.