MIRA
INFORM REPORT
|
Report Date : |
10.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
ABHISHEK CORPORATION LIMITED |
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Registered
Office : |
Gat No. 148, Tamgaon, Kolhapur – Hupari Road, Taluka – Karveer, District – Kolhapur-416234, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
01.09.1993 |
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Com. Reg. No.: |
11-073706 |
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Capital
Investment / Paid-up Capital : |
Rs. 160.085 Millions |
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CIN No.: [Company Identification
No.] |
L51491PN1993PLC073706 |
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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.] |
AACCA0323P |
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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 Subject is Engaged in Yarn Manufacturing and Construction Business. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. Profitability of the company is under pressure. There are accumulated
losses recorded by the company which has eroded net worth of the company. Business is active. Payment terms are slow. The company can be considered for business dealings on safe and secured
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
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.
LOCATIONS
|
Registered Office / Factory: |
Gat No. 148, Tamgaon, Kolhapur – Hupari Road, Taluka – Karveer, District – Kolhapur-416234, Maharashtra, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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CITY OFFICE : |
‘Shiv – Parvati’ 17 E’, |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Anasaheb Ramchandra MohiteMr. |
|
Designation : |
Chairman and Managing Director |
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|
Name : |
Mr. Abhishek Anasaheb Mohite |
|
Designation : |
Director- Marketing & Strategy (Resigned w.e.f. August 26, 2013) |
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Name : |
Mrs. Rama Jawahar Swetta |
|
Designation : |
Non Executive Director |
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Name : |
Mr. |
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Designation : |
Independent Director (Resigned w.e.f. October 1,2013) |
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Name : |
Mr. Manohar Dattatraya Kanitkar |
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Designation : |
Independent Director (Resigned w.e.f. June 15, 2013) |
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Name : |
Mr. Dhananjay Shripati Charane |
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Designation : |
Independent Director |
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Name : |
Mr.Manohar Vitthal Dudhane |
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Designation : |
Independent Director ( Appointed w.e.f. November.30,2013) |
KEY EXECUTIVES
|
Name : |
Ms. Anuja Subhash Mallikar |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
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|
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|
9225416 |
57.63 |
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|
9225416 |
57.63 |
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Total shareholding of Promoter and Promoter Group (A) |
9225416 |
57.63 |
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(B) Public Shareholding |
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|
1661653 |
10.38 |
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|
1886158 |
11.78 |
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|
3201113 |
20.00 |
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|
34122 |
0.21 |
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|
12896 |
0.08 |
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|
14143 |
0.09 |
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|
7083 |
0.04 |
|
|
6783046 |
42.37 |
|
Total Public shareholding (B) |
6783046 |
42.37 |
|
Total (A)+(B) |
16008462 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
16008462 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is Engaged in Yarn Manufacturing and Construction Business. |
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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 : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available |
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Bankers : |
· Axis Bank Limited · Bank of Baroda · Indian Overseas Bank · Punjab National Bank · State Bank of India · State Bank of Patiala · Union Bank of India · Bank of India · IDBI Bank Ltd · Corporation Bank · State Bank of Hyderabad |
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Facilities : |
SECURED
LOAN (Rs.
In Millions)
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Shrikant and Company Chartered Accountant |
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Address : |
1031/K-2, E Ward, Sterling Tower, Kolhapur – 416001, Maharashtra, India |
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Memberships : |
----- |
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Collaborators : |
----- |
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Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
24000000 |
Equity Shares |
Rs.10/- each |
Rs. 240.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16008462 |
Equity Shares |
Rs.10/- each |
Rs. 160.085
Millions |
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Subscribed and
Paid up Share Capital includes:
a) Equity shareholder
holding more than 5% of equity shares along with the number of equity shares
held, is as given below:
|
NAME OF THE SHAREHOLDER |
As at 31.03.2014 |
|
|
|
% |
NUMBER OF SHARES |
|
Annasaheb Mohite |
28.17% |
4509192 |
|
Anjali Mohite |
24.84% |
3977078 |
|
Rama Swetta |
12.49% |
2000000 |
|
Abhishek Mohite |
10.79% |
1727131 |
|
Blue Mark Mercantile Private Limited |
8.47% |
1356229 |
b) Out of the above,
following shares are pledged or otherwise encumbered:
|
NAME OF THE SHAREHOLDER |
As at 31.03.2014 |
|
|
|
% |
NUMBER OF SHARES |
|
Annasaheb Mohite |
24.07% |
3852956 |
|
Anjali Mohite |
23.29% |
3728431 |
|
Abhishek Mohite |
9.89% |
1582929 |
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 |
160.085 |
160.085 |
160.085 |
|
(b) Reserves & Surplus |
(2381.285) |
(1564.119) |
(899.398) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
(2221.200) |
(1404.034) |
(739.313) |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
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(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 |
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Total Non-current Liabilities (3) |
0.000 |
0.000 |
0.000 |
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(4) Current Liabilities |
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(a) Short term borrowings |
596.320 |
974.469 |
970.734 |
|
(b) Trade payables |
402.771 |
189.469 |
123.895 |
|
(c) Other current
liabilities |
4083.832 |
3062.968 |
2558.280 |
|
(d) Short-term provisions |
59.920 |
62.170 |
58.817 |
|
Total Current Liabilities (4) |
5142.843 |
4289.076 |
3711.726 |
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|
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TOTAL |
2921.643 |
2885.042 |
2972.413 |
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II.
ASSETS |
|
|
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(1) Non-current assets |
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(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1989.885 |
2139.575 |
2289.554 |
|
(ii) Intangible Assets |
0.000 |
21.113 |
21.113 |
|
(iii) Capital work-in-progress |
21.714 |
0.376 |
0.376 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.376 |
7.804 |
7.182 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.173 |
0.055 |
0.441 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
2020.148 |
2168.923 |
2318.666 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
237.067 |
289.287 |
339.709 |
|
(c) Trade receivables |
215.844 |
67.812 |
63.153 |
|
(d) Cash and cash
equivalents |
15.917 |
15.116 |
17.666 |
|
(e) Short-term loans and
advances |
115.698 |
112.329 |
89.649 |
|
(f) Other current assets |
316.969 |
231.575 |
143.570 |
|
Total Current Assets |
901.495 |
716.119 |
653.747 |
|
|
|
|
|
|
TOTAL |
2921.643 |
2885.042 |
2972.413 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
224.175 |
258.707 |
210.659 |
|
|
|
Other Income |
0.772 |
0.768 |
0.933 |
|
|
|
TOTAL (A) |
224.947 |
259.475 |
211.592 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
198.379 |
166.606 |
165.737 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
39.656 |
7.998 |
25.350 |
|
|
|
Employees benefits expense |
23.742 |
44.740 |
73.782 |
|
|
|
Other expenses |
96.300 |
135.823 |
86.693 |
|
|
|
TOTAL (B) |
358.077 |
355.167 |
351.562 |
|
|
|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(133.130) |
(95.692) |
(139.970) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
534.290 |
418.664 |
513.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(667.420) |
(514.356) |
(653.259) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
149.746 |
150.365 |
157.194 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(817.166) |
(664.721) |
(810.453) |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(817.166) |
(664.721) |
(810.453) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
19.799 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Others |
0.000 |
0.000 |
0.126 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
0.126 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(51.05) |
(41.52) |
(50.63) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
(364.52) |
(256.94) |
(384.72) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(59.39) |
(36.99) |
(66.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(28.18) |
(23.11) |
(27.34) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37 |
0.47 |
1.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
(0.27) |
(0.69) |
(1.31) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.18 |
0.17 |
0.18 |
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 |
160.085 |
160.085 |
160.085 |
|
Reserves & Surplus |
(899.398) |
(1564.119) |
(2381.285) |
|
Net
worth |
(739.313) |
(1404.034) |
(2221.200) |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
970.734 |
974.469 |
596.320 |
|
Total
borrowings |
970.734 |
974.469 |
596.320 |
|
Debt/Equity
ratio |
(1.313) |
(0.694) |
(0.268) |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
210.659 |
258.707 |
224.175 |
|
|
|
22.808 |
(13.348) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
210.659 |
258.707 |
224.175 |
|
Profit |
(810.453) |
(664.721) |
(817.166) |
|
|
(384.72%) |
(256.94%) |
(364.52%) |
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 |
No |
|
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 |
Yes |
|
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 |
LATIGATION DETAILS
|
Case Details Bench : Bombay |
|||
|
Lording No. :- SL/3027/2011 |
Filing Date :- 21/10/2011 |
Reg. No. :- S/115/2012 |
Reg. Date :- 12.01.2012 |
|
Petitioner :- |
VENUS TRADING COMPANY |
Respondent :- |
ABHISHEK CORPORATION LIMITED |
|
Petn. Adv. :- |
GANESH M. SHETTY (0) |
|
|
|
District :- |
MUMBAI |
|
|
|
Bench :- |
SINGLE |
|
|
|
Status :- |
Transferred |
Category :- |
OTHE MONEY SUITS |
|
Transfer Date :- |
03/1/2012 |
Remark :- |
TRANSFERRED TO CITY CIVIL COURT |
|
Act :- |
Code of
Civil Procedure 1908 |
||
RESULTS OF
OPERATIONS
During the year under
review sale has been reduced to Rs. 224.175 Millions from Rs. 258.750 Millions.
Company has started receiving orders gradually. But still orders are very less
comparing to production capacity of the Company. Management is constantly
focused on marketing. Due to lack of funds and lower orders the growth in
Company's sale is restricted.
Company has not
been able to sale the Fabric of Premium Quality due to lack of demand. Premium
quality fabric gives higher margins. Under utilization of capacity accompanied
with higher debt cost, lower margins have resulted into the loss of Rs. 817.166
Millions (before Extra Ordinary Item) as against the net loss of Rs. 664.720
Millions in previous year.
MANAGEMENT
DISCUSSION AND ANALYSIS
The management of Abhishek
Corporation Limited presents the analysis of business performance of the
Company for the year 2013-2014 and its outlook for the future. This outlook is
based on assessment of the current business environment. It may vary due to
future economic and other developments, both in India and abroad.
INDUSTRY STRUCTURE & FUTURE OUTLOOK
During past few
years, the spinning industry has been facing grueling time mainly because of
volatility in cotton prices and in turn yarn prices, steep fall in Global Demand
leading to dumping of yarn in Domestic price and thereby turning the market
hostile in term of prices, rise in power and labor cost.
In the wake of
this gloominess revolving over the industry, there seems the future of the
industry is hanged in the balance. To revive the industry from this worst
situation, there is a need of concrete steps by the Government to keep the
cotton prices stable, to boost exports of yarn by extending additional export
incentives, exemption up to certain extent from power charges & other
possible aids which can provide a sigh of relief to this ailing industry.
OPPORTUNITIES AND
THREATS
Looking to the
deadlock in which the Textile Industry has been plunged into, there are not
opportunities seen at present to get back to normalcy. On the contrary, there
are threats to confront with like…. Sliding demand in exports, Falling prices
in domestic as well as global market, uncertain cotton prices & increasing
cost of production. On the whole, it is feared that all these factors will nibble
the Industry.
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2014
[RS.
IN MILLIONS]
|
Sr. No |
Particulars |
Standalone |
|||
|
Quarter Ended |
Year to Date Figures for Current Period
Ended |
||||
|
30.09.2014 |
30.06.2014 |
(30.09.2014) |
|||
|
Unaudited |
Unaudited |
Unaudited |
|||
|
1 |
Income From
Operations |
|
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
17.305 |
52.860 |
70.165 |
|
|
|
b. Other Operating Income |
0.000 |
0.000 |
0.000 |
|
|
|
Total Income from
Operations (Net) |
17.305 |
52.860 |
70.165 |
|
|
2 |
Expenditure |
|
|
|
|
|
|
a. Cost of material Consumed |
14.397 |
8.415 |
22.813 |
|
|
|
b. Purchase of Stock-in trade |
0.000 |
0.000 |
0.000 |
|
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
0.903 |
10.294 |
11.197 |
|
|
|
d. Employees Benefit Expenses |
11.037 |
7.986 |
19.023 |
|
|
|
e. Depreciation and Amortisation Expenses |
37.207 |
37.207 |
74.413 |
|
|
|
f. Other expenses |
23.880 |
25.492 |
49.371 |
|
|
|
Total Expenses |
87.424 |
89.394 |
176.818 |
|
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
(70.119) |
(36.534) |
(106.653) |
|
|
4 |
Other Income |
4.825 |
0.000 |
4.825 |
|
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
(65.294) |
(36.534) |
(101.827) |
|
|
6 |
Finance Costs |
154.235 |
147.505 |
301.740 |
|
|
7 |
Profit from
ordinary activities after finance costs & exceptional items |
(219.529) |
(184.039) |
(403.567) |
|
|
8 |
Exceptional items |
0.000 |
0.000 |
0.000 |
|
|
9 |
Profit from
ordinary activities before tax |
(219.529) |
(184.039) |
(403.567) |
|
|
10 |
Tax Expense |
|
|
|
|
|
|
- Income Tax |
0.000 |
0.000 |
0.000 |
|
|
|
- Deferred Tax |
0.000 |
0.000 |
0.000 |
|
|
11 |
Net Profit from
ordinary activity after tax |
(219.529) |
(184.039) |
(403.567) |
|
|
12 |
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
|
13 |
Net Profit After
Tax |
(219.529) |
(184.039) |
(403.567) |
|
|
14 |
Paid-up equity share capital (face value of Rs.10 per share) |
160.085 |
160.085 |
160.085 |
|
|
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 |
(13.71) |
(11.50) |
(25.21) |
|
|
|
Diluted EPS |
(13.71) |
(11.50) |
(25.21) |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
|
- No. of shares |
6783046 |
5783046 |
6783046 |
|
|
|
- Percentage of shareholding |
42.37 |
36.12 |
42.37 |
|
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
|
- No. of shares |
8164316 |
9164316 |
8164316 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
88.50 |
89.62 |
88.50 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
51.00 |
57.25 |
51.00 |
|
|
|
b) Non-encumbered |
|
|
|
|
|
|
- No. of shares |
1061100 |
1061100 |
1061100 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
11.50 |
10.38 |
11.50 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
6.63 |
6.63 |
6.63 |
|
|
B. |
INVESTOR COMPLAINTS |
3 months ended (30.09.2014) |
|
|
Pending at the beginning of the quarter |
NIL |
|
|
Received during the quarter |
NIL |
|
|
Disposed of during the quarter |
NIL |
|
|
Unresolved at the end of the quarter |
NIL |
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER, 2014
STANDALONE
STATEMENT OF ASSETS AND LIABILITIES
[RS.
IN MILLIONS]
|
Particulars |
Standalone |
|
|
Quarter Ended |
||
|
30.09.2014 |
||
|
Unaudited |
||
|
A |
EQUITY AND LIABILITIES |
|
|
1 |
Shareholders' Funds |
|
|
|
(a) Share Capital |
160.085 |
|
|
(b) Reserves & Surplus |
(2774.957) |
|
|
Total
Shareholders’ Funds |
(2614.872) |
|
|
|
|
|
2 |
Non-Current
Liabilities |
|
|
|
(a) long-term borrowings |
0.000 |
|
|
(b) Deferred tax liabilities (Net) |
0.000 |
|
|
(c) Other long term liabilities |
0.000 |
|
|
(d) long-term provisions |
0.000 |
|
|
Sub Total Non-current Liabilities |
0.000 |
|
|
|
|
|
3 |
Current Liabilities |
|
|
|
(a) Short term borrowings |
592.345 |
|
|
(b) Trade payables |
433.920 |
|
|
(c) Other current
liabilities |
4447.808 |
|
|
(d) Short-term provisions |
28.943 |
|
|
Sub
Total Current Liabilities |
5503.016 |
|
|
|
|
|
|
TOTAL- EQUITY AND LIABILITIES |
2888.144 |
|
|
|
|
|
A |
ASSETS |
|
|
1 |
Non-current assets |
|
|
|
(a) Fixed Assets (i) Tangible Assets |
1916.089 |
|
|
(ii) Capital Work –in-
Progress |
21.113 |
|
|
(b) Non-current Investments |
0.376 |
|
|
(c) Long-term Loan and Advances |
8.171 |
|
|
(d) Other Non-current assets |
0.000 |
|
|
Sub Total Non-Current Assets |
1945.749 |
|
|
|
|
|
2 |
Current assets |
|
|
|
(a) Current investments |
0.000 |
|
|
(b) Inventories |
230.478 |
|
|
(c) Trade receivables |
268.189 |
|
|
(d) Cash and cash
equivalents |
18.745 |
|
|
(e) Short-term loans and
advances |
67.559 |
|
|
(f) Other current assets |
357.423 |
|
|
Sub Total Current Assets |
942.394 |
|
|
|
|
|
|
TOTAL-ASSETS |
2888.144 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
SHORT TERM BORROWINGS |
|
|
|
From the Directors of the Company |
142.124 |
149.986 |
|
From the Relatives
of Directors of the Company |
181.956 |
182.739 |
|
Inter-corporate Loan |
26.204 |
22.383 |
|
Total |
350.284 |
355.108 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10190428 |
31/10/2009 |
353,600,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE
BRANCH, 14, MUMBAI PUNE ROAD, |
A75101964 |
|
2 |
10163824 |
01/06/2009 |
353,600,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14 MUMBAI PUNE ROAD, WAKDEWADI, PUNE, MAHARASHTRA - 411003, INDIA |
A64582653 |
|
3 |
10134724 |
03/11/2008 |
35,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, 14, WAKDEWADI, PUNE MUMBAI ROAD, PUNE, MAHARASHTRA - 411003, INDIA |
A53348595 |
|
4 |
10121799 |
26/03/2014 * |
450,000,000.00 |
EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE, OFF. C.S.T ROAD, KALINA, MUMBAI, MAHARASHTRA - 400098, INDIA |
C19960251 |
|
5 |
10149434 |
26/03/2014 * |
60,000,000.00 |
EDELWEISS ASSET RECONSTRUCTION COMPANY LIMITED |
EDELWEISS HOUSE, OFF. C.S.T ROAD, KALINA,, MUMBAI, MAHARASHTRA - 400098, INDIA |
C19960400 |
|
6 |
10112138 |
28/04/2008 |
7,900,000.00 |
UNION BANK OF INDIA |
RETAIL MART, STATION ROAD, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
A40830309 |
|
7 |
10112843 |
07/03/2008 |
1,890,000.00 |
UNION BANK OF INDIA |
RETAIL MART, STATION ROAD, KOLHAPUR, MAHARASHTRA - 416001, INDIA |
A40829939 |
|
8 |
10066821 |
01/06/2009 * |
1,700,000,000.00 |
INDIAN OVERSEAS BANK |
517/A/1, HOTEL
VRINDAVAN BUILDING, OPP VATESHWAR |
A65106163 |
|
9 |
10055237 |
12/09/2008 * |
34,000,000.00 |
IDBI BANK LIMITED |
1763, E, RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A46651204 |
|
10 |
10040686 |
19/02/2007 |
250,000,000.00 |
INDIAN OVERSEAS BANK |
1315/C, SAROJ APARTMENT, LAXMIPURI, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
A11799962 |
|
11 |
10010987 |
12/09/2008 * |
13,700,000.00 |
IDBI BANK LIMITED |
1763, E, RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A46653523 |
|
12 |
10006213 |
25/02/2006 |
36,600,000.00 |
CORPORATION BANK |
14 PUNE MUMBAI ROAD, PUNE, MAHARASHTRA - 416003, INDIA |
A00326454 |
|
13 |
80049051 |
12/09/2008 * |
100,000,000.00 |
IDBI BANK LIMITED |
1763, E,
RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 4160 |
A49336464 |
|
14 |
80049050 |
12/09/2008 * |
11,250,000.00 |
IDBI BANK LIMITED |
1763, E, RAJARAMPURI, KOLHAPUR, MAHARASHTRA - 416008, INDIA |
A49335573 |
|
15 |
90093917 |
12/09/2008 * |
619,200,000.00 |
INDIAN OVERSEAS BANK |
1315/C, SAROJ APARTMENTS, LAXMIPURI, KOLHAPUR, KOLHAPUR, MAHARASHTRA - 416002, INDIA |
A46962874 |
|
16 |
90092195 |
20/06/2003 |
2,500,000.00 |
THE UNITED WESTERN BANK LIMITED |
RAJARAMPURI BRANCHMN, KOLHAPUR, MAHARASHTRA, INDIA |
- |
|
17 |
90091601 |
06/12/2002 * |
20,000,000.00 |
THESARSWAT CO-OP.BANK LIMITED |
KARVE ROAD BR, PUNE, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land and Land Development / Sraping
· Factory and Office Building
· Plant and Equipments
· Electric Installation
· Furniture and Fixture
· Vehicles
· Office Equipments
· Lab Equipments
· Computers
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair and
reasonable and comparable to compensation paid to others for similar services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.87 |
|
|
1 |
Rs. 96.90 |
|
Euro |
1 |
Rs. 76.29 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ASH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
11 |
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.