MIRA INFORM REPORT
|
Report Date : |
27.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
TRIDENT TOOLS LIMITED (w.e.f. 17.01.2011) |
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Formerly Known
As : |
MAGICUT TOOLS LIMITED |
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Registered
Office : |
Survey No. 26, Tembhode Shirgaon Road, Dhansar Village, Palghar, Thane
– 401404, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
29.04.1982 |
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Com. Reg. No.: |
11-027046 |
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Capital
Investment / Paid-up Capital : |
Rs.140.400
Millions |
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CIN No.: [Company Identification
No.] |
L29220MH1982PLC027046 |
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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.] |
Not Available |
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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
: |
Manufacturing of wide range of Saws and Tools like Hand Hacksaw Blades and Frames, Junior Hacksaw Blades and Frames, Power Hacksaw Blades, Bimetal Hole Saws, Accessories and Kits, Reciprocating Saw Blades, Air Saws Blades and Tool Bits. |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 492000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to low reserves. However, Trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long Term Bank Facilities = BB- |
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Rating Explanation |
Inadequate credit quality and high credit
risk |
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Date |
11.04.20114 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities = A4 |
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Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
11.04.20114 |
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 PARTED BY
|
Name : |
Mr. Sameer Bhosale |
|
Designation : |
General Manager |
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Contact No.: |
91-9820014823 |
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Date : |
18.12.2014 |
LOCATIONS
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Registered Office/Factory : |
Survey No. 26, Tembhode Shirgaon Road, Dhansar Village, Palghar, Thane
– 401404, Maharashtra, India |
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Tel. No.: |
91-22-28847191 |
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Mobile No.: |
91-9820014823 (Mr. Sameer Bhosale) |
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Fax No.: |
91-22-28462388 |
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E-Mail : |
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Website : |
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Area : |
2000 Sq Ft |
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Location : |
Owned |
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Corporate Office : |
Hercules Industrial Estate, A.C. Road, Ashok Nagar, Kandivli (East),
Mumbai – 400101, Maharashtra, India |
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Tel. No.: |
91-22-28847191/ 32539213 |
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Fax No.: |
91-22-28462388/ 28861795 |
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Area : |
1 Acre |
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Location : |
Owned |
DIRECTORS
As on 31.03.2014
|
Name : |
Narendra
R Gupta |
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Designation : |
Chairman
and Whole Time Director |
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Name : |
Mr. Ravi N. Gupta |
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Designation : |
Managing Director and Compliance Officer |
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Name : |
Mr. Suresh Bhandary |
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Designation : |
Independent Director |
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Date of Birth / Age : |
04.03.1946 |
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Date of Appointment : |
01.12.2008 |
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Qualifications : |
B.Sc. |
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Name : |
Mr. Satish Marathe |
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Designation : |
Independent Director |
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Date of Birth / Age : |
01.02.1950 |
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Date of Appointment : |
01.12.2008 |
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Qualifications : |
Bachelor
in Commerce and Law |
KEY EXECUTIVES
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AUDIT COMMITTEE : |
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Name : |
Mr. Suresh Bhandary |
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Designation : |
Chairman |
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Name : |
Mr. Satish Marathe |
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Designation : |
Member |
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Name : |
Mr. Narendra R. Gupta |
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Designation : |
Member |
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INVESTOR GRIEVANCE
COMMITTEE : |
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Name : |
Mr. Suresh Bhandary |
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Designation : |
Chairman |
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Name : |
Mr. Suresh Bhandary |
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Designation : |
Member |
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Name : |
Mr. Narendra R. Gupta |
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Designation : |
Member |
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REMUNERATION
COMMITTEE : |
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Name : |
Mr. Narendra R. Gupta |
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Designation : |
Chairman |
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Name : |
Mr. Satish Marathe |
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Designation : |
Member |
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Name : |
Mr. Suresh Bhandary |
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Designation : |
Member |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
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|
3819580 |
56.59 |
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|
3819580 |
56.59 |
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Total shareholding of Promoter and Promoter Group (A) |
3819580 |
56.59 |
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(B) Public Shareholding |
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|
2242555 |
33.22 |
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550606 |
8.16 |
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|
135159 |
2.00 |
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|
2100 |
0.03 |
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|
2100 |
0.03 |
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|
2930420 |
43.41 |
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Total Public shareholding (B) |
2930420 |
43.41 |
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Total (A)+(B) |
6750000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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Total (A)+(B)+(C) |
6750000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of wide range of Saws and Tools like Hand Hacksaw Blades and Frames, Junior Hacksaw Blades and Frames, Power Hacksaw Blades, Bimetal Hole Saws, Accessories and Kits, Reciprocating Saw Blades, Air Saws Blades and Tool Bits. |
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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 : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Advance Payment, Cheque and Credit
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Purchasing : |
Advance Payment, Cheque and Credit
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PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
Punjab National Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Girish Patel and Company Chartered Accountants |
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Address : |
F‐103/104, Patel Nagar, M.G. Road, Kandivali (West), Mumbai ‐ 400067, Maharashtra, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Sister Concern : |
Not Available |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15050000 |
Equity Shares |
Rs.10/- each |
Rs.150.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14050000 |
Equity Shares |
Rs.10/- each |
Rs.140.400
Millions |
Disclosure pursuant
to Note no. 6(A)(d) of Part I of Schedule VI to the Companies Act, 1956
|
Equity Shares |
Number
of Shares |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
6750000 |
67.500 |
|
Shares Issued during the year |
7290000 |
72.900 |
|
Shares bought back during the year |
- |
0.000 |
|
Shares outstanding at the end of the year |
14040000 |
140.400 |
Disclosure pursuant to Note no. 6(A) (g) of
Part I of Schedule VI to the Companies Act, 1956 (if more than 5%)
|
Name of Shareholder
|
Number
of Shares |
% holding |
|
Sita Narendra Gupta |
562400 |
4.01% |
|
Sheetal Ravi Gupta |
467660 |
3.33% |
|
Ravi Narendra Gupta |
5563100 |
39.62% |
|
Greesha Ravi Gupta |
475000 |
3.38% |
|
Harshwardhan Ravi Gupta |
476050 |
3.39% |
|
Ravi N Gupta (Huf) |
421170 |
3.00% |
|
Vulcan Tools Private Limited |
847503 |
6.04% |
|
Ultracut Tools Private Limited |
599871 |
4.27% |
|
Axis Tools and Engg Co. Private Limited |
778787 |
5.55% |
|
Snehal Multitrade Private Limited |
2340000 |
16.67% |
As per of the Company, including its registers of Shareholders/ Members and other declaration received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares. Out of the above the increase in shares of Mr. Ravi Gupta by 4455000 shares and Snehal
Multitrade Private Limited of 2340000 are yet to be listed on BSE.
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 |
140.400 |
117.000 |
67.500 |
|
(b) Reserves & Surplus |
31.625 |
5.822 |
38.419 |
|
(c) Money
received against share warrants |
0.000 |
29.507 |
8.087 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
172.025 |
152.329 |
114.006 |
|
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
458.168 |
274.191 |
128.999 |
|
(b) Deferred tax liabilities (Net) |
22.482 |
17.535 |
10.156 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.144 |
1.144 |
0.715 |
|
Total Non-current
Liabilities (3) |
481.794 |
292.870 |
139.870 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
165.039 |
108.382 |
110.716 |
|
(b) Trade
payables |
94.215 |
48.963 |
46.231 |
|
(c) Other
current liabilities |
12.803 |
9.962 |
8.686 |
|
(d) Short-term
provisions |
9.821 |
17.440 |
12.117 |
|
Total Current
Liabilities (4) |
281.878 |
184.747 |
177.750 |
|
|
|
|
|
|
TOTAL |
935.697 |
629.946 |
431.626 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
338.441 |
358.153 |
97.675 |
|
(ii)
Intangible Assets |
3.750 |
4.500 |
5.250 |
|
(iii)
Capital work-in-progress |
207.868 |
0.000 |
88.423 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.059 |
0.059 |
0.059 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.982 |
2.436 |
2.353 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
554.100 |
365.148 |
193.760 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
244.732 |
181.947 |
158.199 |
|
(c) Trade
receivables |
96.584 |
54.690 |
56.456 |
|
(d) Cash
and cash equivalents |
13.403 |
5.470 |
6.004 |
|
(e)
Short-term loans and advances |
26.870 |
21.704 |
16.988 |
|
(f) Other
current assets |
0.008 |
0.987 |
0.219 |
|
Total
Current Assets |
381.597 |
264.798 |
237.866 |
|
|
|
|
|
|
TOTAL |
935.697 |
629.946 |
431.626 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
632.446 |
493.108 |
367.758 |
|
|
|
Other Income |
0.123 |
2.426 |
0.239 |
|
|
|
TOTAL (A) |
632.569 |
495.534 |
367.997 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
483.722 |
337.263 |
267.082 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(54.336) |
(15.754) |
(28.849) |
|
|
|
Employees benefits expense |
30.043 |
32.315 |
24.612 |
|
|
|
Other expenses |
73.095 |
62.214 |
59.057 |
|
|
|
TOTAL (B) |
532.524 |
416.038 |
321.902 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
100.045 |
79.496 |
46.095 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.148 |
37.885 |
21.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
54.897 |
41.611 |
24.708 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.331 |
16.513 |
6.042 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
26.566 |
25.098 |
18.666 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.736 |
12.443 |
10.939 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.830 |
12.655 |
7.727 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.540 |
6.068 |
1.819 |
|
|
|
|
|
|
|
|
|
Add |
MAT CREDIT
AVAILABLE |
1.970 |
5.780 |
0.678 |
|
|
|
|
|
|
|
|
|
Add |
RESERVES
TRANSFERRED FROM TRANSFEROR CO. ON ACCOUNT OF MERGER |
0.000 |
0.321 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
REVERSAL
& CANCELLATION OF PROPOSED DIVIDEND & TAXES FOR F.Y.2012‐2013 |
2.354 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Short provision of Dividend AND Taxes for the year |
0.000 |
0.000 |
0.621 |
|
|
|
Short Provision of Income Tax for earlier years |
0.458 |
0.000 |
1.182 |
|
|
|
Proposed Dividends |
0.000 |
2.025 |
2.025 |
|
|
|
Tax on Dividend |
0.000 |
0.329 |
0.328 |
|
|
|
Adjusted on account of Merger with Quick cut Engineering Co. |
0.000 |
19.930 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
22.236 |
2.540 |
6.068 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
142.349 |
102.119 |
120.729 |
|
|
TOTAL EARNINGS |
142.349 |
102.119 |
120.729 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Capital Goods |
141.845 |
117.400 |
0.000 |
|
|
|
Raw Materials |
81.102 |
69.811 |
77.766 |
|
|
TOTAL IMPORTS |
222.947 |
187.211 |
77.766 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.11 |
1.87 |
1.14 |
|
Expected Sales (2014-2015): Rs.632.500 Millions
Above information has been parted by Mr. Sameer Bhosale
QUARTERLY RESULTS
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
172.600 |
171.100 |
|
Total Expenditure |
|
140.800 |
142.300 |
|
PBIDT (Excl OI) |
|
31.700 |
28.800 |
|
Other Income |
|
0.000 |
0.000 |
|
Operating Profit |
|
31.700 |
28.800 |
|
Interest |
|
15.000 |
10.900 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
16.700 |
17.900 |
|
Depreciation |
|
9.300 |
9.300 |
|
Profit Before Tax |
|
7.500 |
8.700 |
|
Tax |
|
3.000 |
3.200 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
4.500 |
5.400 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
4.500 |
5.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.50 |
2.57 |
2.10 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
15.82 |
16.12 |
12.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.65 |
3.98 |
5.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.16 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.62 |
2.51 |
2.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.43 |
1.34 |
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 |
67.500 |
117.000 |
140.400 |
|
Reserves & Surplus |
38.419 |
5.822 |
31.625 |
|
Money received against share
warrants |
8.087 |
29.507 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
114.006 |
152.329 |
172.025 |
|
|
|
|
|
|
long-term borrowings |
128.999 |
274.191 |
458.168 |
|
Short term borrowings |
110.716 |
108.382 |
165.039 |
|
Total
borrowings |
239.715 |
382.573 |
623.207 |
|
Debt/Equity
ratio |
2.103 |
2.511 |
3.623 |
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 |
367.758 |
493.108 |
632.446 |
|
|
|
34.085 |
28.257 |
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
|
367.758 |
493.108 |
632.446 |
|
Profit |
7.727 |
12.655 |
15.830 |
|
|
2.10% |
2.57% |
2.50% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2014 Rs.
In Millions |
|
LONG TERM
BORROWINGS |
|
|
|
Terms loans from others |
145.543 |
70.096 |
|
Terms loans deposits from others |
0.066 |
0.065 |
|
Total |
145.609 |
70.161 |
OPERATIONS AND
PERFORMANCE:
The Global operating environment improved considerably in FY2013‐14, as economic activity strengthened and
spending in most economies began to recover, however in a periodic manner ‐ whereas the advanced economies, particularly the US and UK led the bounce back as growth became broader and more entrenched, Europe saw the first tentative signs of recovery after a long and painful slowdown. India’s economic growth rate in the current financial year remained weak at 4.7% (previous year was 4.5%). The Industrial activity remained weak and the stagnation was broad based. Manufacturing output remained negative and the economy witnessed decline in investment in new projects in line with slowdown of overall growth. Although the FY 2013‐14 was a challenging year for the Company as the Indian economy continued to be under severe stress, the company has given robust performance the highlights of the same areas under:
- Revenue
from operations increased by 26.63% to Rs.669.600 Millions from the
previous year Rs.528.754 Millions
- Export
increased by 38.52% to Rs.142.349 Millions from the previous year
Rs.102.119 Millions
- EBIDTA
increased by 25.91% to Rs.100.046 Millions from the previous year
Rs.79.497 Millions
- Profit
before Tax increased by 5.98% to Rs.26.566 Millions from the previous year Rs.25.099 Millions
- Net
Profit after Tax increased by 25.09 % to Rs.15.830 Millions from the
previous year Rs.12.655 Millions
Although the Company maintains
adequate internal control systems covering all its operation areas. The
Directors are putting in their further efforts and are hopeful of improved
working during the years to come. Barring unforeseen circumstances, your
Directors are confident of achieving better results in the ensuing year.
FUTURE
OUTLOOK:
The Company has setup powder coating and Vacuum Hardening Technology for almost all its product the demand for the products with these technology is high acceptable in the foreign markets. The company will be focusing more on the International Markets. Further with the increase in the Automobile sector, Engineering sector the demands for Saws and Cutting Tools are going to be high in the coming years in the market, and with the End to End Solution the company has bright future and has built itself to face each and every market challenges.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH 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 |
|
|
|
|
Net sales/ Income from operation (net of excise duty) |
181.970 |
182.166 |
666.537 |
|
Other operating income |
0.284 |
0.090 |
0.063 |
|
|
182.254 |
182.256 |
666.600 |
|
Less : Excise Duty & Taxes |
9.677 |
6.153 |
37.154 |
|
Total Income from
operations (net) |
172.577 |
176.103 |
629.446 |
|
|
|
|
|
|
2.Expenditure |
|
|
|
|
(a) (Increase)/Decrease of stock in progress |
(26.275) |
(30.809) |
(54.336) |
|
(b) Consumption of Raw materials |
146.122 |
146.495 |
483.722 |
|
(c) Employee Cost |
5.708 |
7.894 |
30.043 |
|
(d) Depreciation Cost |
9.250 |
8.131 |
28.331 |
|
(e) Other Expenditure |
15.283 |
25.224 |
73.095 |
|
Total expenses |
150.088 |
156.935 |
560.855 |
|
3. Profit from operations before other income and
financial costs |
22.489 |
19.168 |
68.591 |
|
4. Other income |
0.000 |
0.000 |
0.123 |
|
5. Profit from ordinary activities before finance costs |
22.489 |
19.168 |
68.714 |
|
6. Finance costs |
15.017 |
9.239 |
45.148 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
7.472 |
9.929 |
23.566 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
7.472 |
9.929 |
23.566 |
|
10.Tax expenses |
2.994 |
1.868 |
10.736 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
4.478 |
8.061 |
12.830 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
4.478 |
8.061 |
12.830 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
140.400 |
140.400 |
140.400 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
36.103 |
31.625 |
31.625 |
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
0.32 |
0.57 |
0.13 |
|
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 |
2930420 |
2930420 |
2930420 |
|
- Percentage of shareholding |
20.87% |
20.87% |
20.87% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
0.00 |
0.00 |
0.00 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
0.00 |
0.00 |
0.00 |
|
Percentage of shares (as a % of total share capital of the
company)z |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
11109580 |
11109580 |
11109580 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
79.13% |
79.13% |
79.13% |
Notes:
- No Investor complaints received during
the quarter.
- Previous period figures have been
regrouped wherever necessary.
- The Audit Committee has reviewed the
above quarterly results at its meeting held on 14th August,
2014
- The above financial results were approved
at the Board Meeting held on 14th August, 2014
- Out of the Promoter and Promoter Group
Holding 7290000 shares are not yet listed.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10509301 |
29/04/2014 |
110,000,000.00 |
Punjab National Bank |
2nd Floor, Seepz,, Andheri East, Mumbai, Maharashtra - 400096, India |
C11500980 |
|
2 |
10510706 |
29/04/2014 |
156,000,000.00 |
Punjab National Bank |
2nd Floor, Seepz,, Andheri East, Mumbai, Maharashtra - 400096, India |
C12725800 |
|
3 |
10480346 |
13/02/2014 |
25,000,000.00 |
Punjab National Bank |
8 Cama Ind. Estate, Wal Bhat Road, Goregaon East, Mumbai, Maharashtra - 400062, India |
B97491047 |
|
4 |
10454126 |
04/10/2013 |
266,000,000.00 |
Punjab National Bank |
2nd Floor, Seepz,, Andheri East, Mumbai, Maharashtra - 400096, India |
B87133146 |
|
5 |
10374312 |
25/08/2012 |
65,000,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
B57181141 |
|
6 |
10326801 |
30/11/2011 |
700,000.00 |
Punjab National Bank |
8 Cama Ind. Estate, Wal Bhat Road, Goregaon East, Mumbai, Maharashtra - 400062, India |
B29200466 |
|
7 |
10300944 |
13/07/2011 |
1,036,000.00 |
Punjab National Bank |
8 Cama Ind. Estate, Wal Bhat Road, Goregaon East, Mumbai, Maharashtra - 400062, India |
B18327288 |
|
8 |
10176036 |
13/03/2013 * |
416,736,000.00 |
Punjab National Bank |
8 Cama Ind. Estate, Wal Bhat Road, Goregaon East, Mumbai, Maharashtra - 400062, India |
B73868234 |
|
9 |
10172497 |
27/06/2009 |
5,000,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
A67936559 |
|
10 |
10140627 |
13/01/2009 |
3,500,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
A55896146 |
|
11 |
10125020 |
23/09/2008 |
3,500,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
A47797873 |
|
12 |
10096419 |
10/03/2008 |
5,000,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
A35935097 |
|
13 |
10096396 |
14/08/2010 * |
350,000,000.00 |
Punjab National Bank |
8 Cama Ind. Estate, Wal Bhat Road, Goregaon East, Mumbai, Maharashtra - 400062, India |
B73878704 |
|
14 |
90351474 |
23/12/2005 |
34,000,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
- |
|
15 |
90354422 |
27/06/2009 * |
95,000,000.00 |
Punjab National Bank |
Goregaon
(East) Branch,8, Cama Industrial Estate, |
A67934679 |
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.64 |
|
UK Pound |
1 |
Rs.98.98 |
|
Euro |
1 |
Rs.77.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
SJT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.