MIRA INFORM REPORT

 

 

Report Date :

19.12.2014

 

IDENTIFICATION DETAILS

 

Name :

VBC INDUSTRIES LIMITED

 

 

Registered Office :

6-2-913/914, 3rd Floor, Progressive Towers, Khairatabad, Hyderabad - 500 004, Telangana

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

03.09.1971

 

 

Com. Reg. No.:

01-001437

 

 

Capital Investment / Paid-up Capital :

Rs. 451.835 Millions

 

 

CIN No.:

[Company Identification No.]

L28113TG1971PLC001437

 

 

IEC No.:

Not Divulged

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Divulged

 

 

PAN No.:

[Permanent Account No.]

Not Divulged

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufactures and sells ferro alloys.

 

 

No. of Employees :

Not Divulged

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca (13)

 

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

 

 

Payment Behaviour :

Slow But Correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is a well-established company having moderate track.

 

Management failed to operate its manufacturing plant for most of the year on account of non-supply of power by central power distribution company of AP Limited for non-payment of load shortfall charges, accordingly the company’s turnover for FY14 has affected.

 

Moreover, the company has officially informed Bombay Stock Exchange that they have started their manufacturing activities from November 10, 2014.

 

The company possesses a weak liquidity profile partly marked by huge accrued payables during FY14.

 

Further, as per information available from indirect source i.e. CRISIL the company’s account had been classified as a non – performing asset by its banker as of August 2014.

 

However, Business is active.  Payment terms are reported as slow and delayed.

 

In view of prevailing financial as well as business issues, the company can be considered for business dealings on a 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)

India

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

CRISIL

Rating

Long Term Rating = D

Rating Explanation

Lowest credit quality very low prospects of recovery

Date

August 22, 2014

 

Rating Agency Name

CRISIL

Rating

Short Term Rating = D

Rating Explanation

Default of expected to be in default on maturity.

Date

August 22, 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 (91-40-23301230)

 

 

LOCATIONS

 

Registered Office/Address for Correspondence :

6-2-913/914, 3rd Floor, Progressive Towers, Khairatabad, Hyderabad - 500 004, Telangana

Tel. No.:

91-40-23320904/08/23301230/23328653

Fax No.:

91-40-23321217/23390721

E-Mail :

sarma_19592004@gmail.com

info@vccilindia.com

 

 

Factory  :

Dinnedevarapadu Village, NH-7, Kurnool-518 002, Andhra Pradesh, India

Tel. No.:

91-8518-237845

Fax No.:

91-8518-237848

 

 

DIRECTORS

 

As on: 31.03.2013

 

Name :

Dr. M.V.V.S. Murthi

Designation :

Chairman (Non-Executive)

 

 

Name :

Mr. R.K.R. Gone La, I.A.S. (Retd.)

Designation :

Director

 

 

Name :

Mr. J. Kameswara Sarma

Designation :

Director

 

 

Name :

Mr. V.S. Rao

Designation :

Director

 

 

Name :

Mr. M V. Ananthakrishna

Designation :

Director

 

 

Name :

Mr. M.S. Lakshman Rao

Designation :

Managing Director

 

 

KEY EXECUTIVES

 

Name :

Mr. D.S. Sarma

Designation :

Secretary/GM (Corporate Affairs) and CS/Compliance Officer

 

 

Audit Committee:

 

Name :

Mr. Rk.R Gonela, Ias. (Retd).

Designation :

Chairman (Non-Executive)

 

 

Name :

Mr. J. Kameswara Sarma

Designation :

Member

 

 

Name :

Mr. V.S. Rao

Designation :

Member

 

 

Remuneration Committee:

 

 

 

Name :

Mr. R.K.R Gone La, Ias. (Retd).

Designation :

Chairman (Non-Executive)

 

 

Name :

Mr. V.S. Rao

Designation :

Non-Executive Member

 

 

Investor’s Grievance and Share Transfer Committee:

 

 

 

Name :

Mr. M.V.V.S. Murthi

Designation :

Chairman (Non-Executive)

 

 

Name :

Mr. M.S. Lakshman Rao

Designation :

Member

 

 

Name :

Mr. J. Kameswara Sarma

Designation :

Member

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 31.03.2013

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a %

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

5054241

11.22

http://www.bseindia.com/include/images/clear.gifBodies Corporate

20708563

45.97

http://www.bseindia.com/include/images/clear.gifSub Total

25762804

57.19

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

6100000

13.54

http://www.bseindia.com/include/images/clear.gifSub Total

6100000

13.54

Total shareholding of Promoter and Promoter Group (A)

31862804

70.74

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

983810

2.18

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

8479758

18.83

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

3655058

8.11

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

62379

0.14

http://www.bseindia.com/include/images/clear.gifNon-Resident Indians

25287

0.06

http://www.bseindia.com/include/images/clear.gifClearing Members

37092

0.08

http://www.bseindia.com/include/images/clear.gifSub Total

13181005

29.26

Total Public shareholding (B)

13181005

29.26

Total (A)+(B)

45043809

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

45043809

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufactures and sells ferro alloys.

 

 

Products :

-

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

Not Applicable

 

 

Imports :

Not Applicable

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

 

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

Not Divulged

 

 

Bankers :
  • UCO BANK INDIA, Flagship Corporate Branch, Somajiguda, Raj Bhavan Road Hyderabad-500 038 Telangana, India

 

 

Facilities :

(Rs. In Millions)

Secured Loan

As on 31.03.2014

As on

31.03.2013

Long Term Borrowings

 

 

Rupee Term Loans

(Due to Others on hypothecation of vehicles)

NA

0.000

Term Loan

(Term Loan from a bank on first charge by way of hypothecation of all the fixed assets of the Company and guaranteed by Managing Director and a shareholder of the Company, in their personal capacity.

NA

11.569

Short Term Borrowings

 

 

Cash credit facilities

(Cash credit from a bank on hypothecation of Stock of Finished goods, Raw Materials, stores and spares and book debts and a first charge on all the fixed assets of the Company and guaranteed by Managing Director and a shareholder of the Company, in their personal capacity.)

NA

134.460

 

 

 

Total

NA

146.029

 

 

 

Banking Relations :

---

 

 

Auditors :

 

Name :

Brahmayya and Company

Chartered Accountant

Address :

# 403 and 404, Golden Green partments, Irrum Manzil Colony, Hyderabad – 500082, Telangana, India

Tel. No.:

91-40*-23370002/4

Fax No.:

91-23370005

E-Mail :

hydbrahmyya@gmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

(31.03.2013)
  • Konaseema Gas Power Limited
  • VBC Ferro Alloys Limited
  • Orissa power Consortium Limited.

 

 

Companies/Firms/Other Concerns in which key Manageable Personnel or his relatives holds substantial interest:

(31.03.2013)
  • VBC Exports Limited
  • Techno Infratech Projects (India) Private Limited
  • BASIL Infrastructure projects Limited
  • Indo-Us Coal Washeries Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorized Capital : Not Available

 

Issued Subscribed & Paid-up Capital :  Rs. 451.835 Millions

 

As on: 31.03.2013

 

Authorized Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

80000000

Equity Shares

Rs.10/- each

Rs. 800.000 Millions

 

Issued

 

No. of Shares

Type

Value

Amount

 

 

 

 

45322909

Equity Shares

Rs.10/- each

Rs. 453.229 Millions

 

Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

45043809

Equity Shares

Rs.10/- each

Rs. 450.438 Millions

 

Add: Amount received on Forfeited Shares

-

Rs. 1.396 Millions

 

Total

 

Rs. 451.834 Millions

 

 

  1. Equity shares in the company heled by each shareholder holding more than 5 percent shares specifying the number of shares held:

 

Name of Shareholder

% of Share

No. of Share

Capital PCC

13.54%

61,00,000

Progressive Constructions Limited

8.97%

40,42,000

Basil Infrastructure Projects Limited

9.29%

41,82,980

VBC Exports Limited

8.88%

40,00,000

Konaseema Power Corporation Limited

6.08%

27,40,000

India International Construction Private Limited

5.60%

25,24,000

 

  1. Of the above, 27842000 Equity shares were allotted to erstwhile shareholders of Bharat Alloys and Energy limited, consequent to its amalgamation on 29.01.2008.

 

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

451.835

451.835

451.835

(b) Reserves & Surplus

385.773

523.774

632.164

(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)

837.608

975.609

1083.999

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

864.025

143.160

136.993

(b) Deferred tax liabilities (Net)

0.000

2.129

7.401

(c) Other long term liabilities

0.996

1.148

2.227

(d) long-term provisions

2.815

3.233

2.148

Total Non-current Liabilities (3)

867.836

149.670

148.769

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

262.583

248.075

199.154

(b) Trade payables

296.642

180.969

102.133

(c) Other current liabilities

70.484

66.797

83.799

(d) Short-term provisions

15.452

11.868

10.959

Total Current Liabilities (4)

645.161

507.709

396.045

 

 

 

 

TOTAL

2350.605

1632.988

1628.813

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

642.597

474.696

355.529

(ii) Intangible Assets

0.000

200.341

273.074

(iii) Capital work-in-progress

0.000

0.000

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

1438.565

705.903

705.903

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

70.173

70.140

86.883

(e) Other Non-current assets

17.412

0.000

0.000

Total Non-Current Assets

2168.747

1451.080

1421.389

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

152.723

155.072

158.717

(c) Trade receivables

0.901

1.022

2.465

(d) Cash and cash equivalents

6.580

6.336

28.902

(e) Short-term loans and advances

1.805

2.196

1.833

(f) Other current assets

19.849

17.282

15.507

Total Current Assets

181.858

181.908

207.424

 

 

 

 

TOTAL

2350.605

1632.988

1628.813

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Income

9.007

14.120

446.846

 

 

Other Income

2.593

6.403

10.117

 

 

TOTAL                                     (A)

11.600

20.523

456.963

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Materials Consumed

0.000

5.575

142.714

 

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

2.350

(2.333)

5.069

 

 

Employees benefits expense

18.740

25.646

27.389

 

 

Power and Fuel

0.000

9.004

158.188

 

 

Other expenses

7.104

15.963

40.220

 

 

TOTAL (B)

28.194

53.855

373.580

 

 

 

 

 

Less

PROFIT/LOSS BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

(16.594)

(33.332)

83.383

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

106.575

47.903

23.343

 

 

 

 

 

 

PROFIT/LOSS BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

(123.169)

(81.235)

60.040

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

17.826

14.857

9.941

 

 

 

 

 

 

PROFIT/LOSS BEFORE TAX (E-F)                    (G)

(140.995)

(96.092)

50.099

 

 

 

 

 

Less

TAX                                                                  (H)

(19.541)

(4.250)

32.355

 

 

 

 

 

 

PROFIT/LOSS AFTER TAX (G-H)                      (I)

(121.454)

(91.842)

17.744

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

107.120

199.258

181.514

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

(14.334)

107.120

199.258

 

 

 

 

 

 

Earnings Per Share (Rs.)

(2.70)

(2.04)

0.39

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(1348.44)

(650.44)

3.97

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

(184.23)

(236.06)

18.66

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(15.46)

(10.36)

5.43

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(0.17)

(0.10)

0.05

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.35

0.40

0.31

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.28

0.36

0.52

 

 

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

451.835

451.835

451.835

Reserves & Surplus

632.164

523.774

385.773

Net worth

1083.999

975.609

837.608

 

 

 

 

long-term borrowings

136.993

143.160

864.025

Short term borrowings

199.154

248.075

262.583

Total borrowings

336.147

391.235

1126.608

Debt/Equity ratio

0.310

0.401

1.345

 

 

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

446.846

14.120

9.007

 

 

(96.840)

(36.211)

 

 

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

446.846

14.120

9.007

Profit/Loss

17.744

(91.842)

(121.454)

 

3.97%

(650.44%)

(1348.44%)

 

 

 

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

No

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

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

No

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

 

 

LITIGATION DETAILS:

 

LITIGATION DETAILS

 

CP 180/2014                                                  CPSR 5059/2014                                        Case : CASE PENDING

Petitioner:-

A.S. TRANSPORT PRIVATE LIMITED

Respondent:-

VS VBC Industries Limited, Hyderabad

Petn.Adv:-

SUNIL KUMAR REDDY

Resp. Adv.:

Raju

Subject:-

Company Petition                          District:             Hyderabad

Filing Date

06.08.2014

Posing Stage

For Settlement

Reg. Date:

21.08.2014

Listing Date:

31.12.2014

 

 

Status:   Notices

HON’BLE JUDGE (S)

A. RAJASHEKER REDDY

 

 

UNSECURED LOAN

 

Particular

As on

31.03.2014

(Rs. In Millions)

 

As on

31.03.2013

(Rs. In Millions)

 

Long Term Borrowings

 

Loan from Related Parties

 

131.591

Short Term Borrowings

NA

 

From Corporate bodies

 

113.615

 

 

 

Total

NA

245.206

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED SEPTEMBER 30, 2014

 

 

 

Particulars

 

Three months ended

Year ended

30.09.2014

30.06.2014

30.09.2014

Unaudited

Unaudited

Unaudited

1

Income from Operations

 

 

 

 

(a) Net sates/income from operations (Net of excise duty)

0.000

0.000

0.000

 

(b) Other Operating Income

1.400

1.369

2.769

 

Total income from operations (net)

1.400

1.369

2.769

2

Expenses

 

 

 

 

(a) Cost of materials consumed

0.000

0.000

0.000

 

(b) Purchases of stock-in trade

0.000

0.000

0.000

 

(c) Changes in inventories of finished goods. work-in-progress and stock in trade

0.000

0.000

0.000

 

(d) Employee benefits expense

4.585

4.723

9.308

 

(e) Other Expenses

1.432

1.167

2.599

 

Total expenses

12.544

12.417

24.961

3

Profit/ (Loss) from operations before other Income, finance costs and exceptional Items (1-2)

(11.144)

(11.048)

(22.192)

4

Other Income

0.643

0.643

1.287

5

Profit/ (Loss) from operations before other income, finance costs and exceptional items (3+4)

(10.501)

(10.405)

(20.905)

6

Finance Costs

34.216

27.267

61.484

7

Profit/ (Loss) from ordinary activities after finance cost but before exceptional items (5-6)

(44.717)

(37.672)

(82.389)

8

Exceptional items

0.000

0.000

0.000

9

Profit/ (Loss) from ordinary activities before tax (7+8)

(44.717)

(37.672)

(82.389)

10

Tax expenses

0.000

0.000

0.000

11

Net Profit / (Loss) from ordinary activities after tax (9-10)

(44.717)

(37.672)

(82.389)

12

Extraordinary item (net of tax expense)

0.000

0.000

0.000

13

Net Profit / (Loss) for the period (11-12)

(44.717)

(37.672)

(82.389)

14

Share of profit' (loss) of associates

 

 

 

15

Minority Interest

 

 

 

16

Net Profit/ (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)

 

 

 

17

Paid up equity share capital

 

451.835

451.835

451.835

18

Reserve excluding Revaluation Reserve as per Balance Sheet of previous accounting year

 

 

 

19.i

Earnings per share (before extraordinary items) of Rs.10/- each (not annualized):

 

 

 

 

(a) Basic

 

 

 

 

(b) Diluted

(0.99)

(0.83)

(1.82)

 

 

 

 

 

A

PARTICULARS OF SHAREHOLDING

 

 

 

1

Public Shareholding

 

 

 

 

- Number of shares

13181005

13181005

13181005

 

- Percentage of shareholding

29.26

29.26

29.26

2

Promoters and Promoter group shareholding

 

 

 

 

a) Pledged / Encumbered

 

 

 

 

- Number of shares

Nil

Nil

Nil

 

- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group)

NA

NA

NA

 

- Percentage of shares (as a % of the total Share Capital of the Company)

NA

NA

NA

 

b) Non Encumbered

 

 

 

 

- Number of shares

31862804

31862804

31862804

 

- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group)

100.00

100.000

100.00

 

- Percentage of shares (as a % of the total Share Capital of the Company)

70.74

70.74

70.74

 

 

 

 

 

B

INVESTOR COMPLAINTS

 

 

 

Pending at the beginning of the quarter

NIL

 

 

Received during the quarter

NIL

 

 

Disposed of during the quarter

NIL

 

 

Remaining unresolved at the end of the quarter

NIL

 

 

 

 

 

STANDALONE STATEMENT OF ASSETS AND LIABILITIES

 

Particular

As at 30.09.2014

 

Particulars

 

A

EQUITY AND LIABILITIES

 

1

Shareholder’s Funds

 

 

a) Share Capital

451.835

 

b) Reserves & Surplus

93.482

 

c) Money received against share warrants

0.000

 

Sub Total- Shareholders funds

545.317

2

Share application money pending allotment

0.000

3

Minority Interest

0.000

4

Non-current liabilities

 

 

(a) Long term borrowings

861.786

 

(b) Other long term liabilities

0.996

 

fc) Long term provisions

3.534

 

Sub Total- Non Current Liabilities

866.316

5

Current liabilities

 

 

(a) Short term borrowings

358.979

 

(b) Trade Payables

299.039

 

(c) Other current liabilities

45.619

 

(d) Short term provisions

16.294

 

Sub Total- Current Liabilities

719.931

 

TOTAL-EQUITY AND LIABILITIES

2131.564

B

ASSETS

 

1

Non-current assets

 

 

(a) Fixed assets

420.410

 

(b) Long term loans and advances

70.173

 

(c)Non-Current Investment

1438.565

 

(d)Differed Tax

17.412

 

Sub-Total- Noncurrent assets

1946.560

2

Current assets

 

 

a) Current Investments

0.000

 

b) Inventories

152.723

 

c) Trade Receivables

0.893

 

d) Cash and cash equivalents

8.386

 

(e) Short term loans and advances

1.534

 

(f) Other current assets

21.468

 

Sub-Total- current assets

185.004

 

TOTAL ASSETS

2131.564

 

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

 

Charge Holder

Address

Service Request Number (SRN)

1

80043865

01/02/2014 *

205,000,000.00

UCO Bank

FLAGSHIP CORPORATE BRANACH UCO BANK, SOMAJIGUDA,
HYDERABAD, Andhra Pradesh - 500082, INDIA

B97749485

 

* Date of charge modification

 

 

FIXED ASSETS:

 

  • Land
  • Buildings
  • Plant & Equipment
  • Furniture & Fixtures
  • Office equipment
  • Vehicles

 

 

PRESS RELEASE:

 

VBC Industries starts manufacturing activities:

 

VBC Industries Limited has informed BSE that the Company has started its manufacturing activities from November 10, 2014.

 

 

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 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.63.58

UK Pound

1

Rs.99.98

Euro

1

Rs.79.39

 

 

INFORMATION DETAILS

 

Information Gathered by :

HNA

 

 

Analysis Done by :

SUB

 

 

Report Prepared by :

MTN

 

 

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

2

--RESERVES

1~10

2

--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

YES

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

13

 

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

 

--

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.