MIRA INFORM REPORT
|
Report Date : |
13.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
HINDOOSTAN MILLS LIMITED |
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Registered
Office : |
Sir Vithaldas Chambers, 16 Mumbai Samachar Marg, Fort,
Mumbai – 400001, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.05.1904 |
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Com. Reg. No.: |
11-000195 |
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Capital
Investment / Paid-up Capital : |
Rs.16.645 Millions |
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CIN No.: [Company Identification
No.] |
L17121MH1904PLC000195 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
27540268923 |
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PAN No.: [Permanent Account No.] |
Not Available |
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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 is mainly engaged in textile business, which includes manufacturing
of grey fabrics and fine fabrics. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities – Fund Based = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
24.09.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities – Non Fund Based
= A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
24.09.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-22-22040846)
LOCATIONS
|
Registered Office : |
Sir Vithaldas Chambers, 16 Mumbai Samachar Marg, Fort,
Mumbai – 400001, |
|
Tel. No.: |
91-22-22040846 / 47 |
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Fax No.: |
91-22-22833841 |
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E-Mail : |
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Website : |
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Factory 1 : |
Textiles Unit and Roll Manufacturing Unit 1 Plot No. D-1, MIDC Industrial Area,Village -
Taswade, Tal - Karad, District Satara - 415109, |
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Factory 2 : |
Roll
Manufacturing Unit 2 Plot
No. B-24, Anand Nagar, MIDC Industrial Area, Addl. Ambernath, Thane - 421506,
|
DIRECTORS
As on 31.03.2014
|
Name : |
Mr.
Sudhir Thackersey |
|
Designation : |
Chairman
Emeritus |
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|
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|
Name : |
Raoul
Thackersey |
|
Designation : |
Chairman
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|
Name : |
Chandrahas
Thackersey |
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Designation : |
Vice
chairman |
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Name : |
Hrishikesh
Thackersey |
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Designation : |
Executive
Director |
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|
Name : |
Abhimanyu Thackersey
|
|
Designation : |
Executive
Director |
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|
Name : |
Krishnadas
D. Vora |
|
Designation : |
Director |
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|
Name : |
Naresh
R. Kara |
|
Designation : |
Director |
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Name : |
R.N.
Bansal |
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Designation : |
Director |
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Qualifications
: |
B.Com., M.A.,F.C.A.,A.C.S.,
A.C.I.S. |
|
Date of Appointment : |
08.06.2011 |
|
|
|
|
Name : |
P.B.
Desai |
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Designation : |
Director |
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Qualifications
: |
B.Com. |
|
Date of Appointment : |
08.06.2011 |
|
|
|
|
Name : |
Sujal
A. Shah |
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Designation : |
Director |
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Qualifications
: |
B.Com.,
F.C.A. |
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Date of Appointment : |
08.06.2011 |
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|
|
|
Name : |
Bhavesh
V. Panjuani |
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Designation : |
Director |
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Name : |
Nitin
P. Shingala |
|
Designation : |
Director |
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Name : |
Vishwadhara Dahanukar (Appointed On 6.11.2014) |
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Designation : |
Director |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
555960 |
33.40 |
|
|
431283 |
25.91 |
|
|
987243 |
59.31 |
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|
|
|
Total shareholding of Promoter and Promoter Group (A) |
987243 |
59.31 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
8 |
0.00 |
|
|
2120 |
0.13 |
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|
2128 |
0.13 |
|
|
|
|
|
|
21440 |
1.29 |
|
|
|
|
|
|
408332 |
24.53 |
|
|
221850 |
13.33 |
|
|
23555 |
1.42 |
|
|
23555 |
1.42 |
|
|
675177 |
40.56 |
|
Total Public shareholding (B) |
677305 |
40.69 |
|
Total (A)+(B) |
1664548 |
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) |
1664548 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The
Company is mainly engaged in textile business, which includes manufacturing
of grey fabrics and fine fabrics. |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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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 |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
·
HDFC Bank Limited, A/c No.: 50200005344583 ·
UCO Bank |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M.A. Parikh and Company Chartered Accountants |
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Solicitors : |
·
Mulla and Mulla and
Craigie Blunt and Caroe
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates / companies
where control exists : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22767500 |
Equity Shares |
Rs.10/- each |
Rs.227.675 Millions |
|
2500 |
5% Redeemable Cumulative
"A" Preference Shares |
Rs.10/- each |
Rs.0.025 Millions |
|
780000 |
15% Non-Convertible Redeemable
Non-Cumulative Preference Shares |
Rs.10/- each |
Rs.7.800 Millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.335.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1664548 |
Equity Shares |
Rs.10/- each |
Rs.16.645 Millions |
The Company has issued
only one class of shares referred to as Equity Shares having a par value of
Rs.10/-. Each holder of Equity Shares is entitled to one vote per share.
958708, Equity Shares of Rs.10 /- each are alloted on 27th June 2011 as fully
paid up without payment being received in cash pursuant to the scheme of
Amalgamation Sanctioned by the High Court of Bombay dated 1st April 2011.
Reconciliation of
the number of shares
|
Equity Shares |
Rs. In Millions |
|
|
|
|
1664548 Equity Shares at the beginning
and at the end of the year of Rs.10/- each fully paid up |
16.645 |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Chandrali Investments Private Limited |
85017 |
5.11% |
|
Mr. Jagdish Thackersey |
180586 |
10.85% |
|
Mr. Raoul Thackersey |
104690 |
6.29% |
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 |
16.645 |
16.645 |
16.645 |
|
(b) Reserves & Surplus |
933.798 |
933.039 |
905.805 |
|
(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) |
950.443 |
949.684 |
922.450 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(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 |
22.962 |
18.314 |
16.804 |
|
Total Non-current
Liabilities (3) |
22.962 |
18.314 |
16.804 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
9.000 |
|
(b) Trade
payables |
93.618 |
44.831 |
67.076 |
|
(c) Other
current liabilities |
73.932 |
72.792 |
64.208 |
|
(d) Short-term
provisions |
27.832 |
21.691 |
14.542 |
|
Total Current
Liabilities (4) |
195.382 |
139.314 |
154.826 |
|
|
|
|
|
|
TOTAL |
1,168.787 |
1,107.312 |
1,094.080 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
520.686 |
505.324 |
439.551 |
|
(ii)
Intangible Assets |
5.243 |
0.600 |
0.600 |
|
(iii)
Capital work-in-progress |
4.710 |
6.602 |
81.599 |
|
(iv)
Retired Fixed Assets |
0.114 |
0.209 |
0.000 |
|
(b) Non-current Investments |
3.801 |
4.301 |
4.301 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
23.750 |
10.520 |
19.674 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.838 |
|
Total Non-Current
Assets |
558.304 |
527.556 |
546.563 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
4.302 |
54.520 |
6.720 |
|
(b)
Inventories |
289.204 |
196.742 |
206.771 |
|
(c) Trade
receivables |
219.667 |
164.149 |
158.316 |
|
(d) Cash
and cash equivalents |
18.102 |
6.261 |
17.386 |
|
(e)
Short-term loans and advances |
78.271 |
157.573 |
157.923 |
|
(f) Other
current assets |
0.937 |
0.511 |
0.401 |
|
Total
Current Assets |
610.483 |
579.756 |
547.517 |
|
|
|
|
|
|
TOTAL |
1,168.787 |
1,107.312 |
1,094.080 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1,466.148 |
1,064.35 |
1,027.21 |
|
|
|
Other Income |
14.629 |
20.087 |
20.101 |
|
|
|
|
0.000 |
0.255 |
1.463 |
|
|
|
TOTAL (A) |
1,480.777 |
1,084.692 |
1,048.777 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
980.987 |
619.417 |
704.737 |
|
|
|
Purchases of Stock-in-Trade |
56.085 |
65.196 |
61.333 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(73.866) |
4.985 |
(27.893) |
|
|
|
Employees benefits expense |
114.290 |
83.046 |
78.655 |
|
|
|
Other expenses |
287.812 |
210.256 |
213.445 |
|
|
|
Exceptional Items |
(2.752) |
(0.125) |
(11.486) |
|
|
|
TOTAL (B) |
1,362.556 |
982.775 |
1,018.791 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
118.221 |
101.917 |
29.986 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1.422 |
0.652 |
0.704 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
116.799 |
101.265 |
29.282 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
65.014 |
47.157 |
41.197 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
51.785 |
54.108 |
(11.915) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.293 |
12.365 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
39.492 |
41.743 |
(11.915) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
285.956 |
165.616 |
53.680 |
|
|
TOTAL EARNINGS |
285.956 |
165.616 |
53.680 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
25.384 |
6.494 |
8.872 |
|
|
|
Stores & Spares |
6.590 |
4.674 |
11.032 |
|
|
|
Capital Goods |
6.849 |
5.102 |
193.831 |
|
|
TOTAL IMPORTS |
38.823 |
16.270 |
213.735 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
23.73 |
25.08 |
(7.16) |
|
QUARTERLY RESULTS
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
368.400 |
398.200 |
|
Total Expenditure |
|
361.300 |
388.900 |
|
PBIDT (Excl OI) |
|
7.100 |
9.300 |
|
Other Income |
|
4.800 |
2.300 |
|
Operating Profit |
|
11.900 |
11.600 |
|
Interest |
|
1.600 |
4.500
|
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
10.300 |
7.100 |
|
Depreciation |
|
19.700 |
24.100 |
|
Profit Before Tax |
|
(9.400) |
(17.000) |
|
Tax |
|
0.000 |
0.000 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
(9.400) |
(17.000) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
(9.400) |
(17.000) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.69 |
3.92 |
(1.16) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.06 |
9.58 |
2.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.46 |
4.94 |
(1.18) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.06 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.12 |
4.16 |
3.54 |
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 |
16.645 |
16.645 |
16.645 |
|
Reserves & Surplus |
905.805 |
933.039 |
933.798 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
922.450 |
949.684 |
950.443 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
9.000 |
0.000 |
0.000 |
|
Total
borrowings |
9.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.010 |
0.000 |
0.000 |
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 |
1,027.213 |
1,064.350 |
1,466.148 |
|
|
|
3.615 |
37.751 |
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
|
1,027.213 |
1,064.350 |
1,466.148 |
|
Profit |
(11.915) |
41.743 |
39.492 |
|
|
(1.16%) |
3.92% |
2.69% |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
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 |
Yes |
NATURE OF INDUSTRY:
The
Company is mainly engaged in textile business, which includes manufacturing of
grey fabrics and fine fabrics. The company also owned a Calendar Roll
manufacturing facility. It has setup Technical Textile manufacturing and moving
towards manufacturing of Composite Reinforcement Fabrics
REVIEW OF OPERATIONS
The revenue from operations of the Company for the Financial year 2013–14 is 11466.148 Millions. The Profit before tax is Rs. 51.785 Millions. The performance and overall view of the Textile, Roll manufacturing and Technical Fabric business has been covered in the Management Discussion and Analysis which forms part of this Directors' Report.
AMALGAMATION OF
SUBSIDIARY
With a view to achieving synergies of operations, optimum utilization of
resources and control costs, the Board of Directors had decided to amalgamate
Hindoostan Technical Fabrics Limited (HTFL), wholly–owned subsidiary of the
Company with the Company w.e.f. April 1, 2013 i.e. 'the Appointed Date'.
The Hon'ble High Court of Judicature at Bombay had, vide its Order dated October 10, 2014, sanctioned the Scheme of Amalgamation between Hindoostan Technical Fabrics Limited with the Company. Consequently, Hindoostan Technical Fabrics Limited stood amalgamated with the Company w.e.f. April 1, 2013.
Further, Hindoostan Technical Fabrics Limited being the wholly owned subsidiary of the Company and no new shares are required to be issued by the Company. Therefore, there is no change in the capital structure of the Company.
The merger of HTFL will strengthen the Technical Fabric business offering from the Company.
Since HTFL being the only subsidiary company of the Company, provisions of Section 212 of the Companies Act, 1956 shall not apply. Accordingly, the Balance Sheet, Profit & Loss Account and other documents of the Subsidiary Company are not required to attach.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST SEPTEMBER 2014
(Rs. In Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
389.600 |
362.500 |
759.800 |
|
b) Other operating income |
8.600 |
5.900 |
14.700 |
|
Total
income from Operations(net) |
398.200 |
368.400 |
774.500 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
241.500 |
244.400 |
491.400 |
|
b) Purchases of stock in trade |
17.400 |
15.800 |
33.300 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
19.500 |
7.300 |
26.300 |
|
d) Employees benefit expenses |
32.500 |
27.400 |
62.900 |
|
e) Depreciation and amortization expenses |
24.100 |
19.700 |
45.300 |
|
f) Other expenditure |
78.000 |
66.400 |
147.100 |
|
Total expenses |
413.000 |
381.000 |
806.300 |
|
3. Profit from operations before other income and
financial costs |
(14.800) |
(12.600) |
(31.800) |
|
4. Other income |
2.300 |
4.800 |
4.900 |
|
5. Profit from ordinary activities before finance costs |
(12.500) |
(7.800) |
(26.900) |
|
6. Finance costs |
4.500 |
1.600 |
6.100 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
(17.000) |
(9.400) |
(33.000) |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
(17.000) |
(9.400) |
(33.000) |
|
10.Tax expenses |
0.000 |
0.000 |
0.000 |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
(17.000) |
(9.400) |
(33.000) |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
(17.000) |
(9.400) |
(33.000) |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
16.645 |
16.645 |
16.645 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary items)
of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic |
(10.21) |
(5.650 |
(19.82) |
|
(b) Diluted |
(10.21) |
(5.650 |
(19.82) |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
677305 |
684780 |
677305 |
|
- Percentage of shareholding |
40.69% |
41.14% |
40.69% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
987243 |
979768 |
987243 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
100.00% |
100.00% |
100.00% |
|
|
59.31% |
58.86% |
59.31% |
|
Percentage of shares (as a % of total share capital of the
company) |
|
|
|
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
|
Nil |
|
|
Receiving during the quarter |
|
Nil |
|
|
Disposed of during the quarter |
|
Nil |
|
|
Remaining unreserved at the end of the quarter |
|
Nil |
|
UNAUDITED SEGMENT WIE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
1. Segment Revenue |
|
|
|
|
a. Textile |
362.600 |
351.600 |
714.200 |
|
b. Engineering Products |
23.700 |
16.800 |
40.500 |
|
c. Composite Products |
11.900 |
0.000 |
19.800 |
|
Gross Sales / Income From Operations |
398.200 |
368.400 |
774.500 |
|
|
|
|
|
|
2. Segment Result (Profit before
Interest and Tax) |
|
|
|
|
a. Textile |
(9.000) |
(7.500) |
(16.500) |
|
b. Engineering Products |
0.200 |
(3.800) |
(3.600) |
|
c. Composite Products |
(3.600 |
0.000 |
(7.800) |
|
Total |
(12.400) |
(11.300) |
(27.900 |
|
Less : (i) Interest |
(4.500 |
1.600 |
6.100 |
|
(ii) Other un-allocable expenditure net off un-allocable
income. |
0.100 |
(3.500 |
(1.000) |
|
Profit before Tax |
(8.000) |
(9.400) |
(33.000) |
|
|
|
|
|
|
3. Capital Employed |
|
|
|
|
a. Textile |
657.000 |
722.900 |
657.000 |
|
b. Engineering Products |
129.700 |
136.300 |
129.700 |
|
c. Composite Products |
104.300 |
0.000 |
104.300 |
|
d. Unallocable |
20.600 |
110.700 |
20.600 |
|
Total |
911.600 |
969.900 |
911.600 |
STATEMENT OF ASSETS
AND LIABILITIES
|
SOURCES OF FUNDS |
|
|
30.09.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
16.645 |
|
(b) Reserves & Surplus |
|
|
894.937 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
911.582 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
129.439 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) long-term
provisions |
|
|
25.525 |
|
Total Non-current
Liabilities (3) |
|
|
154.964 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
78.783 |
|
(b) Trade
payables |
|
|
71.499 |
|
(c) Other
current liabilities |
|
|
83.039 |
|
(d) Short-term
provisions |
|
|
29.709 |
|
Total Current
Liabilities (4) |
|
|
263.030 |
|
|
|
|
|
|
TOTAL |
|
|
1,329.576 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
598.927 |
|
(ii)
Intangible Assets |
|
|
4.985 |
|
(iii)
Capital work-in-progress |
|
|
75.688 |
|
(iv)
Retired Fixed Assets |
|
|
0.114 |
|
(b) Non-current Investments |
|
|
3.801 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
32.900 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
716.415 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
29.302 |
|
(b)
Inventories |
|
|
251.003 |
|
(c) Trade
receivables |
|
|
213.543 |
|
(d) Cash
and cash equivalents |
|
|
31.813 |
|
(e)
Short-term loans and advances |
|
|
86.851 |
|
(f) Other
current assets |
|
|
0.649 |
|
Total
Current Assets |
|
|
613.161 |
|
|
|
|
|
|
TOTAL |
|
|
1,329.576 |
INDEX OF CHARGES:
NOT AVAILABLE
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.61.92 |
|
UK Pound |
1 |
Rs.96.37 |
|
Euro |
1 |
Rs.76.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
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 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
48 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.