MIRA INFORM REPORT
|
Report Date : |
27.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
INDO AMINES LIMITED |
|
|
|
|
Registered
Office : |
W-44, MIDC, Phase
II, Dombivli (East), District Thane-421203, |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.12.1992 |
|
|
|
|
Com. Reg. No.: |
11-070022 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.311.186
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1992PLC070022 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI02235C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI1374A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturer of
Amines, Pharmaceuticals and Specialty Chemical. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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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 information financial position of the company is normal and
acceptable for business dealings. Trade relations are fair. Business is active. Payments are reported to
be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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
Not Available
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 DECLINED
Management non co-operative (91-2667-293285)
LOCATIONS
|
Registered Office/ Corporate Office : |
W-44, MIDC, Phase
II, Dombivli (East), District Thane-421203, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Email: |
|
|
Website: |
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|
Factory 1 : |
W-35,D-58,W162, W-37/38/39, Phase II, MIDC, Dombivli
(East), District Thane-421204, |
|
|
|
|
Factory 2 : |
Survey No. 1723,
Tundav, Taluka Savli, |
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|
|
|
Factory 3 : |
W/265, W/266A, TTC
Indl Area Rabale MIDC, Navi Mumbai - 400701, |
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Factory 4 : |
4 Plot No.2,
D-151,D- 152,D-70,J-5 Additional Industrial Area, Avadhan, MIDC, Dhule –
424006, |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Vijay Bhalchandra Palkar |
|
Designation : |
Managing Director |
|
Address : |
73, |
|
Date of Birth/Age : |
25.02.1953 |
|
Date of Appointment : |
09.02.1994 |
|
DIN No.: |
00136027 |
|
|
|
|
Name : |
Mr. Rahul Vijay Palkar |
|
Designation : |
Executive Director |
|
Address : |
73, |
|
Date of Birth/Age : |
25.09.1979 |
|
Date of Appointment : |
19.02.1994 |
|
DIN No.: |
00325590 |
|
|
|
|
Name : |
Mrs. Bharti Vijay Palkar |
|
Designation : |
Executive Director |
|
Address : |
73, |
|
Date of Birth/Age : |
30.04.1954 |
|
Date of Appointment : |
01.07.1997 |
|
DIN No.: |
00136185 |
|
|
|
|
Name : |
Mr. Vishwas Vasudev Mehendale |
|
Designation : |
Director |
|
Address : |
B-103, |
|
Date of Birth/Age : |
17.09.1957 |
|
Date of Appointment : |
09.02.2009 |
|
DIN No.: |
00094468 |
|
|
|
|
Name : |
Mr. Rajannan Raghavendra Ravi |
|
Designation : |
Director |
|
Address : |
Flat No. 11, Kumaran Apartments, 43, 3rd |
|
Date of Birth/Age : |
02.05.1956 |
|
Date of Appointment : |
01.08.2004 |
|
DIN No.: |
00136289 |
|
|
|
|
Name : |
Mr. Changdeo Laxman Kadam |
|
Designation : |
Whole Time Director |
|
Address : |
H-22, Sector No. 4, Aeroli, Navi Mumbai-400708, |
|
Date of Birth/Age : |
01.04.1969 |
|
Date of Appointment : |
29.12.2008 |
|
DIN No.: |
00807296 |
|
|
|
|
Name : |
Mr. Narayan Ganpat Mane |
|
Designation : |
Whole Time Director |
|
Address : |
C-103, Sai Shrishti, CHS, RX-01, Sudarshan Nagar, Dombivali (East),
Thane-421203, |
|
Date of Birth/Age : |
06.02.1967 |
|
Date of Appointment : |
24.12.2002 |
|
DIN No.: |
00325647 |
|
|
|
|
Name : |
Mr. Deepak Shankar Kanekar |
|
Designation : |
Chairman and Non-executive Director |
|
Address : |
B-203, |
|
Date of Birth/Age : |
26.06.1953 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02570268 |
|
|
|
|
Name : |
Mr. Kirit Harilal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
45, Sarvoday Society, Nizampura, |
|
Date of Birth/Age : |
18.03.1948 |
|
Date of Appointment : |
19.02.1994 |
|
DIN No.: |
00175193 |
|
|
|
|
Name : |
Mr. Dhawal Jitendra Vora |
|
Designation : |
Director |
|
Address : |
2-11, Kawali Compound, Opposite Wrly Workshop, N.M. Joshi Marg, Lower
Parel, Mumbai-400013, Maharashtra, India |
|
Date of Birth/Age : |
06.04.1972 |
|
Date of Appointment : |
27.12.2005 |
|
DIN No.: |
00130115 |
|
|
|
|
Name : |
Mr. Nishikant Sunder Sule |
|
Designation : |
Director |
|
Address : |
104, shubh Devi CHS, Opposite Sarita Ice Factory, Shivaji Udyog Nagar,
Manpada Road, Dombivli (East), Thane-421201, Maharashtra, India |
|
Date of Birth/Age : |
23.03.1946 |
|
Date of Appointment : |
12.02.2011 |
|
DIN No.: |
03480278 |
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|
|
|
Name : |
Mr. Suresh Rajamani Iyer |
|
Designation : |
Director |
|
Address : |
2A, 504, |
|
Date of Birth/Age : |
05.07.1966 |
|
Date of Appointment : |
24.12.2002 |
|
DIN No.: |
00289319 |
KEY EXECUTIVES
|
Name : |
Mr. Sagar Diwakar Parab |
|
Designation : |
Secretary |
|
Address : |
6, Rajaradhika Society, |
|
Date of Birth/Age : |
15.11.1986 |
|
Date of Appointment : |
01.02.2013 |
|
PAN No.: |
ARGPP0509C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6046364 |
18.37 |
|
|
18262628 |
55.48 |
|
|
24308992 |
73.85 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
24308992 |
73.85 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
753682 |
2.29 |
|
|
|
|
|
|
4054609 |
12.32 |
|
|
3026359 |
9.19 |
|
|
773138 |
2.35 |
|
|
56021 |
0.17 |
|
|
717117 |
2.18 |
|
|
8607788 |
26.15 |
|
Total Public shareholding (B) |
8607788 |
26.15 |
|
Total (A)+(B) |
32916780 |
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) |
32916780 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of
Amines, Pharmaceuticals and Specialty Chemical. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 : |
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Customers : |
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No. of Employees : |
Not Available |
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Bakers : |
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Facilities : |
(Rs.
In Millions)
|
|
Auditors : |
|
|
Name : |
Kulkarni and Khanolkar Chartered Accountants |
|
Address : |
|
|
PAN No.: |
AAAFK2921N |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Associate : |
CIN No.: U51101MH2011PTC218323
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Subsidiary : |
Indo Amines ( |
CAPITAL STRUCTURE
After 23.08.2014
Authorised Capital : Rs. 330.000 millions
Issued, Subscribed & Paid-up Capital : Rs. 329.168
millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
33000000 |
Equity Shares |
Rs.10/- each |
Rs.330.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13283390 |
Equity Shares |
Rs.10/- each |
Rs.132.834
Millions |
|
2275000 |
Share warrants converted shares |
Rs.10/- each |
Rs.22.750
millions |
|
15558390 |
Bonus issued |
Rs.10/- each |
Rs.155.584 millions |
|
|
|
|
|
|
|
Total |
|
Rs.311.168 millions |
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 |
311.168 |
132.834 |
121.584 |
|
(b) Reserves & Surplus |
90.100 |
201.771 |
146.537 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
3.825 |
13.494 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
405.093 |
348.099 |
268.121 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
49.614 |
83.760 |
80.669 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.485 |
0.000 |
|
(c) Other long term
liabilities |
17.799 |
15.544 |
16.964 |
|
(d) long-term
provisions |
4.019 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
71.432 |
99.789 |
97.633 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
416.641 |
345.573 |
341.695 |
|
(b) Trade
payables |
366.024 |
363.455 |
274.454 |
|
(c) Other
current liabilities |
95.334 |
54.844 |
83.769 |
|
(d) Short-term
provisions |
161.964 |
119.746 |
87.396 |
|
Total Current
Liabilities (4) |
1039.963 |
883.618 |
787.314 |
|
|
|
|
|
|
TOTAL |
1516.488 |
1331.507 |
1153.068 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
298.601 |
255.295 |
194.494 |
|
(ii)
Intangible Assets |
0.905 |
1.522 |
1.863 |
|
(iii)
Capital work-in-progress |
123.232 |
66.594 |
30.410 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
48.831 |
0.419 |
0.394 |
|
(c) Deferred tax assets (net) |
4.249 |
0.000 |
3.083 |
|
(d) Long-term Loan and Advances |
65.419 |
65.205 |
175.927 |
|
(e) Other
Non-current assets |
7.990 |
0.000 |
14.198 |
|
Total Non-Current
Assets |
549.227 |
389.035 |
420.369 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
233.113 |
222.590 |
243.788 |
|
(c) Trade
receivables |
477.714 |
483.845 |
447.315 |
|
(d) Cash
and cash equivalents |
44.065 |
38.914 |
35.488 |
|
(e)
Short-term loans and advances |
160.512 |
177.163 |
4.583 |
|
(f) Other
current assets |
51.857 |
19.960 |
1.525 |
|
Total
Current Assets |
967.261 |
942.472 |
732.699 |
|
|
|
|
|
|
TOTAL |
1516.488 |
1331.507 |
1153.068 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2172.842 |
1995.634 |
1854.796 |
|
|
|
Other Income |
6.098 |
17.187 |
19.754 |
|
|
|
TOTAL (A) |
2178.940 |
2012.821 |
1874.550 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1563.629 |
1441.567 |
1387.098 |
|
|
|
Purchases of stock-in-trade |
2.080 |
0.000 |
8.427 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
21.671 |
(8.722) |
(21.053) |
|
|
|
Employee benefit expense |
76.103 |
53.645 |
42.693 |
|
|
|
Other expenses |
326.209 |
362.487 |
309.272 |
|
|
|
TOTAL (B) |
1989.692 |
1848.977 |
1726.437 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
189.248 |
163.844 |
148.113 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
39.309 |
41.884 |
44.816 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
149.939 |
121.960 |
103.297 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
58.411 |
27.492 |
34.201 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
91.528 |
94.468 |
69.096 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
32.765 |
31.569 |
29.398 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
58.763 |
62.899 |
39.698 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1144.327 |
1013.387 |
1006.632 |
|
|
TOTAL EARNINGS |
1144.327 |
1013.387 |
1006.632 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
536.483 |
432.169 |
384.024 |
|
|
TOTAL IMPORTS |
536.483 |
432.169 |
384.024 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.01 |
4.74 |
3.27 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2014 |
30.09.2014 |
|
|
|
1st Quarter |
2nd Quarter |
|
Net Sales |
|
539.400 |
595.000 |
|
Total Expenditure |
|
500.600 |
544.800 |
|
PBIDT (Excl OI) |
|
38.800 |
50.200 |
|
Other Income |
|
4.800 |
0.000 |
|
Operating Profit |
|
43.700 |
50.200 |
|
Interest |
|
13.600 |
16.900 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
30.100 |
33.400 |
|
Depreciation |
|
15.900 |
22.300 |
|
Profit Before Tax |
|
14.200 |
11.000 |
|
Tax |
|
3.300 |
8.300 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
10.900 |
2.700 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
10.900 |
2.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.70 |
3.15 |
2.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
8.71 |
8.21 |
7.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.83 |
7.47 |
6.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.44 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.15 |
1.99 |
1.58 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
1.07 |
0.93 |
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 |
121.584 |
132.834 |
311.168 |
|
Reserves & Surplus |
146.537 |
201.771 |
90.100 |
|
Share Application money
pending allotment |
3.825 |
13.494 |
0.000 |
|
Net
worth |
268.121 |
334.605 |
401.268 |
|
|
|
|
|
|
long-term borrowings |
80.669 |
83.760 |
49.614 |
|
Short term borrowings |
341.695 |
345.573 |
416.641 |
|
Total
borrowings |
422.364 |
429.333 |
466.255 |
|
Debt/Equity
ratio |
1.575 |
1.283 |
1.162 |
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 |
1854.796 |
1995.634 |
2172.842 |
|
|
|
7.593 |
8.880 |
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 |
1854.796 |
1995.634 |
2172.842 |
|
Profit |
39.698 |
62.899 |
58.763 |
|
|
2.14% |
3.15% |
2.70% |
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 |
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 |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
5.452 |
41.052 |
|
Total |
5.452 |
41.052 |
FINANCIAL OPERATIONS:
DIVIDEND:
During the year the net income from operations on standalone basis increased from 2012.821 Millions to 2178.940 Millions. Company showed a growth of 8.25 % in its total income from the previous year. But however due to increase the Provision for Depreciation, the Profit Before Tax (PBT) has marginally reduced. Your Directors optimum efforts to increase the profits & improve the performance of the Company. Further, during the year on July 27, 2013 fire broke out in Dhule Plant. One section of Dhule Plant and some portion of Office building were damaged due to fire. However there was no loss on Revenue or Production. The plant & office are covered by insurance.
Your Directors are pleased to recommend a final Dividend of Rs. 0.50 per equity share of Rs. 10/- The dividend, if approved by the shareholders at the forthcoming Annual General Meeting would absorb Rs. 1915.568 Millions out of the profits of the year. Dividend distribution tax payable by the company amounting to Rs. 2.644 Millions has been appropriated out of profits.
SCHEME OF ARRANGEMENT
AND AMALGAMATION:
The
Company has obtained order from Hon’ble Bombay High Court vide order dt.2nd
November, 2012 towards approval of composite scheme of arrangement and amalgamation
between Versatile Chemicals Ltd, Palkar Commercials Private Limited and the
company.
The
Company has filed application for adjudication of stamp duty to General Stamp
office, Mumbai, subsequently the Company has paid requisite stamp duty for the
same and obtained the adjudication order from Stamp office and the said order
was registered with Sub- Registrar (Dhule) on 4th March, 2014.
STATEMENT OF STANDALONE UNAUDITED RESULTS FOR THE QUARTER ENDED 30TH
SEPTEMBER, 2014.
|
Sr. No |
Particulars |
Standalone |
||
|
Quarter Ended |
Half yearly Ended |
|||
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
|
|
|
|
|
|
1 |
Net Sales/Income from Operations |
588.220 |
539.384 |
1127.604 |
|
|
Other Income |
6.790 |
4.839 |
11.629 |
|
|
Total Income from Operations |
595.010 |
544.223 |
1139.233 |
|
2 |
Expenses |
|
|
|
|
a |
Cost of material consumption, erection & engineering expense |
451.520 |
411.805 |
863.326 |
|
b |
Purchase of Stock in Trade |
0.000 |
2.080 |
2.080 |
|
c |
Changes in inventories of finished goods, work-in- progress and stock in trade |
(28.224) |
(12.452) |
(40.676) |
|
d |
Employee benefits expense |
26.044 |
20.639 |
46.683 |
|
e |
Depreciation and amortisation expense |
22.311 |
15.889 |
38.200 |
|
f |
Other expenses |
95.477 |
78.488 |
173.965 |
|
|
Total Expenses |
567.128 |
516.450 |
1083.678 |
|
3 |
Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) |
27.882 |
27.773 |
55.655 |
|
4 |
Other Income |
--- |
--- |
--- |
|
5 |
Profit from ordinary activities before finance costs and Exceptional Items (3 + 4) |
27.882 |
27.773 |
55.655 |
|
6 |
Finance costs |
16.845 |
13.612 |
30.457 |
|
7 |
Profit from ordinary activities after finance costs but before Exceptional Items (5 - 6) |
11.037 |
14.161 |
25.198 |
|
8 |
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
9 |
Profit from
ordinary activities before tax (7 + 8) |
11.037 |
14.161 |
25.198 |
|
10 |
Tax expense |
8.309 |
3.315 |
11.624 |
|
11 |
Profit from ordinary activities after tax (9 - 10) |
2.728 |
10.846 |
13.574 |
|
12 |
Extraordinary Item (net of tax expense) |
--- |
--- |
-- |
|
13 |
Net Profit for the
period (11 ± 12) |
2.728 |
10.846 |
13.574 |
|
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) |
2.728 |
10.846 |
13.574 |
|
17 |
Paid-up equity share capital (Face Value Rs. 10/- per share) |
329.168 |
311.168 |
329.168 |
|
18 |
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
19 |
Earnings Per Share
(before extraordinary items) |
|
|
|
|
a |
Basic |
0.08 |
0.35 |
0.41 |
|
b |
Diluted |
0.03 |
0.33 |
0.41 |
|
20 |
Earnings Per Share
(after extraordinary items) |
|
|
|
|
a |
Basic |
0.08 |
0.35 |
0.41 |
|
b |
Diluted |
0.03 |
0.33 |
0.41 |
|
|
PART -II |
|
|
|
|
A |
Particulars of
Share holding |
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
- Number of shares |
8607788 |
8607788 |
8607788 |
|
|
- Percentage
of shareholding |
26.15 |
27.66 |
26.15 |
|
2 |
Promoters and
Promoter Group Shareholding |
|
|
|
|
a |
Pledged /
Encumbered |
Nil |
Nil |
Nil |
|
b |
Non - encumbered |
|
|
|
|
|
- Number of shares |
24308992 |
22508992 |
24308992 |
|
|
- Percentage of shares (as a % of the total shareholding of the Promoter and Promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
73.85 |
72.34 |
73.85 |
|
B |
Investor Complaints
(Nos) |
|
|
|
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 |
Note:
The
above results for the quarter ended 30.09.2014 a have been reviewed by the
audit
STATEMENT OF ASSETS AND LIABILITIES
(Rs.
In Millions)
|
Particulars |
As on 30.09.2014 |
|
|
|
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
329.168 |
|
(b) Reserves & Surplus |
92.480 |
|
|
0 |
|
(2) Share Application money pending
allotment |
0.000 |
|
|
421.648 |
|
(3)
Non-Current Liabilities |
|
|
(a) long-term borrowings |
85.646 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
|
(c) Other long term
liabilities |
1.118 |
|
(d) Long term
Provisions |
8.637 |
|
|
95.401 |
|
(4)
Current Liabilities |
|
|
(a) Short
term borrowings |
395.902 |
|
(b) Trade
payables |
382.397 |
|
(c) Other
current liabilities |
124.801 |
|
(d) Short-term
provisions |
149.588 |
|
|
1052.688 |
|
TOTAL |
1569.737 |
|
|
|
|
II.
ASSETS |
|
|
1)
Non-current assets |
|
|
(a) Fixed
Assets |
|
|
(i)
Tangible assets |
487.314 |
|
(ii)
Intangible Assets |
5.167 |
|
(iii)
Capital work-in-progress |
3.496 |
|
(b) Non-current Investments |
49.331 |
|
(c) Deferred tax assets (net) |
3.074 |
|
(d) Long-term Loan and Advances |
13.505 |
|
(e) Other
Non-current assets |
13.474 |
|
|
575.361 |
|
(2)
Current assets |
|
|
(a)
Current investments |
0.000 |
|
(b)
Inventories |
287.543 |
|
(c) Trade
receivables |
396.704 |
|
(d) Cash
and cash equivalents |
55.226 |
|
(e)
Short-term loans and advances |
217.668 |
|
(f) Other
current assets |
37.235 |
|
|
994.376 |
|
TOTAL |
1569.737 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10513430 |
30/07/2014 |
838,400.00 |
Axis Bank Limited |
TRISHUL 3RD |
C15383599 |
|
2 |
10515728 |
30/07/2014 |
50,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MIDC BRANCH, MADHUKUNJ, PLOT NO P-52,, MIDC PHASE |
C17086380 |
|
3 |
10505820 |
26/03/2014 |
10,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
Madhukunj, plotno. P/52,M.I.D.C. Phase II, Kalyan -Shil
Road,Sonarpada, Dombivli east, DOMBIVLI, Maharashtra - 421204, INDIA |
C09174020 |
|
4 |
10471525 |
20/12/2013 |
34,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LTD |
MIDC BRANCH, MADHUKUNJ, PLOT NO. P/52,, |
B93997658 |
|
5 |
10471532 |
13/12/2013 |
12,750,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LTD |
MIDC BRANCH, MADHUKUNJ, PLOT NO. P/52,, |
B93998060 |
|
6 |
10455200 |
25/09/2013 |
120,000,000.00 |
IDBI Bank Limited |
CORPORATE BANKING GROUP, MITTAL COURT224A,A WING, |
B87601613 |
|
7 |
10413633 |
25/10/2013 * |
82,450,000.00 |
DOMBIVILI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ,PLOT NO P/52,M.I.D.C,PHASE II, KALYAN SHEEL ROAD,SONARPADA,
DOMBIVILI EAST, DOMBIVLI, Maharashtra - 421204, INDIA |
B89802631 |
|
8 |
10387185 |
25/10/2012 |
4,250,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II,, |
B62263611 |
|
9 |
10384602 |
04/10/2012 |
5,950,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO.P/52, M.I.D.C. PHASE II , KALYAN - SHIL ROAD,
SONARPADA, DOMBIVLI EAST, DOMBIVLI, Maharashtra - 421204, INDIA |
B61427126 |
|
10 |
10347309 |
16/03/2012 |
9,000,000.00 |
DOMBIVLI NAGARI SAHAKARI BANK LIMITED |
MADHUKUNJ, PLOT NO P/52, M.I.D.C, PHASE II, |
B36879211 |
* Date of charge modification
FIXED ASSETS:
- Land and Sheds
- Plant and Machinery
- Electrical Equipment
- Motor Vehicles
- Office Equipments
- Furniture and Fixtures
- Cylinder
- Computer
- Scooter
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.63.63 |
|
|
1 |
Rs.98.97 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
GAY |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.