MIRA
INFORM REPORT
|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
P G FOILS LIMITED |
|
|
|
|
Registered
Office : |
6, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
07.11.1979 |
|
|
|
|
Com. Reg. No.: |
04-008050 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.81.161 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27203GJ1979PLC008050 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHP02114A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP9274C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3480000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track
record. Management has seen a drastic dip in its net profitability during
2013. However, the general financial position appears to be decent. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of management’s long standing operational track record and
established clientele, the subject 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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted for
the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus onproviding payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
A – (Long Term Bank Facilities) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
February 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A1 (short Term Bank Facilities) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
February 2013 |
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
31-03-2012.
INFORMATION DENIED BY
|
Name : |
Mr. P M Jain |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-2937-287151 |
|
Date : |
07.02.2014 |
LOCATIONS
|
Registered Office : |
6, Neptune Tower, Ashram Road, Ahmedabad - 380009,
Gujarat, India |
|
Tel. No.: |
91-79-26587606/ 26587205 |
|
Fax No.: |
91-79-26584187 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5000 Sq. ft |
|
Location : |
Owned |
|
|
|
|
Head Office / Factory: |
P.O., Pipalia Kalan, District Pali - 306307, Rajasthan, India |
|
Tel. No.: |
91-2937-287151-56 |
|
Fax No.: |
91-2937-287150 |
|
|
|
|
Branch Offices : |
Located at: · Hyderabad · Kolkata · Jaipur · Ahmedabad · Chennai · Mumbai · Bangalore ·
Delhi |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Pankaj Raj Shah |
|
Designation : |
Managing Director |
|
Address : |
Prem Nagar, C/O PG Foils Limited, Pipalia Kalan, Pali Marwar – 306307,
Rajasthan, India |
|
Date of Birth/Age : |
15.07.1956 |
|
Qualification : |
MBA |
|
Date of Appointment : |
07.11.1979 |
|
PAN No.: |
AKQPS1510H |
|
Voter ID No.: |
RJ/21/160213752 |
|
DIN No.: |
00160558 |
|
|
|
|
Name : |
Mr. Abhay Raj Shah |
|
Designation : |
Whole-Time Director |
|
Address : |
Prem Nagar, C/O PG Foils Limited, Pipalia Kalan, Pali Marwar – 306307,
Rajasthan, India |
|
Date of Birth/Age : |
17.02.1967 |
|
Qualification : |
B Com |
|
Date of Appointment : |
28.08.1992 |
|
PAN No.: |
AKQPS1512F |
|
Voter ID No.: |
RJ/21/160/213752 |
|
DIN No.: |
00160590 |
|
|
|
|
Name : |
Mr. Sahil P Shah |
|
Designation : |
Director |
|
Address : |
P.O. Pipalia, Pali Marwar – 306307, Rajasthan, India |
|
Date of Birth/Age : |
18.03.1985 |
|
Qualification : |
B Com |
|
Date of Appointment : |
11.08.2007 |
|
PAN No.: |
AXWPS5746C |
|
DIN No.: |
01603118 |
|
|
|
|
Name : |
Mr. Vimal Chand Dhadda |
|
Designation : |
Director |
|
Address : |
1387, Ganesh Bhawan, Partanion Rasta, Johri Bazar, Jaipur – 302003,
Rajasthan, India |
|
Date of Birth/Age : |
04.04.1954 |
|
Date of Appointment : |
16.05.1995 |
|
Voter ID No.: |
RJ/06/041/219367 |
|
DIN No.: |
00937400 |
|
|
|
|
Name : |
Mr. Hemant Kumar Nema |
|
Designation : |
Director |
|
Address : |
H. No. 45, Kesharbag Road, Indore – 452009, Rajasthan, India |
|
Date of Birth/Age : |
10.11.1954 |
|
Date of Appointment : |
08.09.2001 |
|
Voter ID No.: |
LMR 1612076 |
|
DIN No.: |
01750160 |
|
|
|
|
Name : |
Mr. Udhan Kumar Chordia |
|
Designation : |
Director |
|
Address : |
No.5, 1st Avenue, Harrington Road, Chepet, Chennai –
600031, Tamilnadu, India |
|
Date of Birth/Age : |
24.05.1971 |
|
Date of Appointment : |
21.03.2009 |
|
Voter ID No.: |
BDZ5273248 |
|
DIN No.: |
02033393 |
KEY EXECUTIVES
|
Name : |
Mr. P M Jain |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.12.2013
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
|
|
|
|
|
|
|
|
856689 |
10.56 |
|
|
3494938 |
43.09 |
|
|
4351627 |
53.66 |
|
|
|
|
|
Total shareholding of
Promoter and Promoter Group (A) |
4351627 |
53.66 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1322273 |
16.30 |
|
|
|
|
|
|
1392376 |
17.17 |
|
|
492786 |
6.08 |
|
|
550938 |
6.79 |
|
|
550418 |
6.79 |
|
|
520 |
0.01 |
|
|
3758373 |
46.34 |
|
Total Public
shareholding (B) |
3758373 |
46.34 |
|
Total (A)+(B) |
8110000 |
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) |
8110000 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
Total shares (including underlying shares assuming full
conversion of warrants and convertible securities) as a % of diluted share
capital |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
||
|
1 |
Prem Krishi Private Limited |
1049800 |
12.94 |
12.94 |
|
2 |
Prem Cables Private Limited |
465378 |
5.74 |
5.74 |
|
3 |
Prem Foils Ltd |
353000 |
4.35 |
4.35 |
|
4 |
Madras Alucon Private Limited |
350687 |
4.32 |
4.32 |
|
5 |
Foils India Laminates Private Limited |
352644 |
4.35 |
4.35 |
|
6 |
Prem Alucon Private Limited |
318631 |
3.93 |
3.93 |
|
7 |
Abhay P Shah |
263241 |
3.25 |
3.25 |
|
8 |
Pankaj P Shah |
249112 |
3.07 |
3.07 |
|
9 |
Pipalia Cables and Wires Private Limited |
218917 |
2.70 |
2.70 |
|
10 |
Paras Private Limited |
169800 |
2.09 |
2.09 |
|
11 |
Manju Pankajraj Shah |
118375 |
1.46 |
1.46 |
|
12 |
Atika A Shah |
116561 |
1.44 |
1.44 |
|
13 |
Jinendra Commercial Company Private Limited |
111000 |
1.37 |
1.37 |
|
14 |
Pipalia Engineering Works Private Limited |
103881 |
1.28 |
1.28 |
|
15 |
Neela Devi P Shah |
57000 |
0.70 |
0.70 |
|
16 |
Sunita |
20300 |
0.25 |
0.25 |
|
17 |
Neetal P Shah |
15000 |
0.18 |
0.18 |
|
18 |
Palak P Shah |
14000 |
0.17 |
0.17 |
|
19 |
Ayush A Shah |
1400 |
0.02 |
0.02 |
|
20 |
Prem Cables Private Limited |
1200 |
0.01 |
0.01 |
|
21 |
Aniket A Shah |
1000 |
0.01 |
0.01 |
|
22 |
Sahil P Shah |
700 |
0.01 |
0.01 |
|
|
Total |
4351627 |
53.66 |
53.66 |
Shareholding belonging
to the category "Public" and holding more than 1% of the Total No. of
Shares
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
Total shares (including underlying shares assuming full
conversion of warrants and convertible securities) as a % of diluted share
capital |
|
|
1 |
Tirumala Irons Private Limited |
842754 |
10.39 |
10.39 |
|
|
2 |
Thunderbird Ind Inc |
375000 |
4.62 |
4.62 |
|
|
3 |
Inventure Growth and Securities Limited |
144500 |
1.78 |
1.78 |
|
|
4 |
Synchem Chemicals India Private Limited |
100000 |
1.23 |
1.23 |
|
|
5 |
Param Capital Research Private Limited |
100000 |
1.23 |
1.23 |
|
|
|
Total |
1562254 |
19.26 |
19.26 |
Shareholding
belonging to the category "Public" and holding more than 5% of the
Total No. of Shares
|
Sl. No. |
Name(s) of the shareholder(s) and the Persons Acting in
Concert (PAC) with them |
No. of Shares |
Shares as % of Total No. of Shares |
|
|
1 |
Tirumala Irons Private Limited |
842754 |
10.39 |
|
|
|
Total |
842754 |
10.39 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
6.79 |
|
Bodies corporate |
|
16.25 |
|
Directors or relatives of directors |
|
53.20 |
|
Other top fifty shareholders |
|
8.58 |
|
Others |
|
15.18 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Sale of Aluminium Foil. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited, IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · IDBI Bank Limited, Jeevan Nidhi Building, Ground Floor, LIC Complex, Ambedkar Circle, Bhawani Singh Road, Jaipur - 302005, Rajasthan, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H.M. Singhvi and Company Chartered Accountants |
|
Address : |
Above Shop No 350, Johari Bazar, Jaipur, Rajasthan, India |
|
PAN No.: |
ACZPS7129M |
|
|
|
|
Related Parties with
whom transactions have been taken place : |
· Prem Cables Private Limited U31300GJ1964PTC057316 · Miracle Carriers and Trading Company · Prem Nagar Industrial Estates Private Limited U70101RJ1967PTC001221 · Pipalia Cables and Wires Private Limited U31300GJ1989PTC013172 ·
Miracle Foils Private Limited U27200GJ1989PTC013173 |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8121600 |
Equity Shares |
Rs.10/- each |
Rs.81.216 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8110000 |
Equity Shares |
Rs.10/- each |
Rs.81.100 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
81.100 |
81.100 |
81.100 |
|
(b) Reserves & Surplus |
790.815 |
752.039 |
691.913 |
|
(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) |
871.915 |
833.139 |
773.013 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
22.500 |
30.000 |
59.465 |
|
(b) Deferred tax liabilities (Net) |
7.903 |
5.429 |
5.376 |
|
(c) Other long term liabilities |
25.430 |
19.718 |
18.555 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities
(3) |
55.833 |
55.147 |
83.396 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
487.675 |
528.151 |
461.788 |
|
(b) Trade payables |
149.581 |
94.137 |
107.390 |
|
(c) Other current liabilities |
37.005 |
78.315 |
129.469 |
|
(d) Short-term provisions |
11.273 |
3.418 |
19.964 |
|
Total Current
Liabilities (4) |
685.534 |
704.021 |
718.611 |
|
|
|
|
|
|
TOTAL |
1613.282 |
1592.307 |
1575.020 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
189.398 |
221.896 |
249.849 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
5.853 |
5.054 |
10.066 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
110.000 |
110.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
109.772 |
63.250 |
40.639 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.015 |
|
Total Non-Current
Assets |
415.023 |
400.200 |
300.569 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
61.725 |
85.725 |
227.477 |
|
(b) Inventories |
263.090 |
350.127 |
275.651 |
|
(c) Trade receivables |
383.280 |
471.116 |
307.965 |
|
(d) Cash and cash equivalents |
424.004 |
202.646 |
374.513 |
|
(e) Short-term loans and advances |
52.408 |
79.973 |
79.396 |
|
(f) Other current assets |
13.752 |
2.520 |
9.449 |
|
Total Current
Assets |
1198.259 |
1192.107 |
1274.451 |
|
|
|
|
|
|
TOTAL |
1613.282 |
1592.307 |
1575.020 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1897.094 |
1923.359 |
1413.576 |
|
|
|
Other Income |
68.109 |
95.120 |
37.639 |
|
|
|
TOTAL (A) |
1965.203 |
2018.479 |
1451.215 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1192.825 |
1217.483 |
1007.831 |
|
|
|
Purchases of stock-in-trade |
501.484 |
503.687 |
124.651 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(2.758) |
(51.327) |
(19.094) |
|
|
|
Employee benefit expense |
56.095 |
73.257 |
71.794 |
|
|
|
Other expenses |
136.910 |
110.982 |
107.971 |
|
|
|
Exceptional items |
(59.040) |
(26.300) |
(27.933) |
|
|
|
Prior period items |
0.000 |
0.000 |
0.124 |
|
|
|
TOTAL (B) |
1825.516 |
1827.782 |
1265.344 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
139.687 |
190.697 |
185.871 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
48.513 |
71.483 |
26.765 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.174 |
119.214 |
159.106 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.340 |
35.952 |
33.228 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
59.834 |
83.262 |
125.878 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.846 |
22.891 |
32.101 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
38.988 |
60.371 |
93.777 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
361.436 |
297.116 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
|
|
8.110 |
|
|
|
Tax on Proposed Dividend |
|
|
1.347 |
|
|
|
General Reserve |
|
|
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
361.436 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
75.156 |
57.119 |
105.382 |
|
|
TOTAL EARNINGS |
75.156 |
57.119 |
105.382 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
120.775 |
590.057 |
105.309 |
|
|
|
Stores & Spares |
24.534 |
31.899 |
52.183 |
|
|
|
Traded Goods |
0.181 |
121.006 |
0.000 |
|
|
TOTAL IMPORTS |
145.490 |
742.962 |
157.492 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.81 |
7.44 |
11.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.98 |
2.99 |
6.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.15 |
4.33 |
8.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.00 |
5.64 |
8.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.10 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.59 |
0.67 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75 |
1.69 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs. In Millions)
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
15.000 |
29.465 |
39.120 |
|
|
|
|
|
|
Total |
15.000 |
29.465 |
39.120 |
|
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 |
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 |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
|
LITIGATION
DETAILS |
|
HIGH COURT OF GUJARAT |
|
STAMP NUMBER No. 1008 of 2013 |
|
|
|
|
|
Status : PENDING |
|
CCIN No : 001087201301008 |
|
|
||||
|
|
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|
1 |
COMMISSIONER OF INCOME TAX - AHMEDABAD - III |
MR.VARUN K.PATEL for: null |
1|
S.NO. |
Name of the Respondant |
Advocate On Record |
|
1 |
P G FOILS LTD |
|
|
|
|||
|
Presented On |
: 10/04/2013 |
Registered On |
: 10/04/2013 |
|
Bench Category |
: DIVISION BENCH |
District |
: AHMEDABAD |
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
|
StageName |
: ADMISSION (FRESH MATTERS) |
||
|
Classification |
DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO
HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA |
|
Act |
INCOME-TAX ACT, 1961 |
|
Other Forums |
|
S.No. |
CASEDETAILS |
TRIBUNAL REFERRENCE |
ORDER PASSED BY |
JUDGEMENT DATE |
PLACE |
|
1 |
ITA/1714/AHD/2012 |
INCOME TAX APPELLATE TRIBUNAL, A BENCH, AHMEDABAD |
JUDICIAL MEMBER AND ACCOUNTANT MEMBER |
05/10/2012 |
AHMEDABAD |
OPERATIONS (GENERAL
REVIEW)
During the year the company achieved a Gross turnover of Rs. 2058.320 Millions as against Rs. 2074.882 Millions in the previous year.
Profit before tax was decreased to Rs. 59.834 Millions from profit of Rs. 83.262 Millions of previous year mainly pressure on margin due to excess supply on account of capacity addition by existing and new units in industry and cheaper import.
Exports have increased to Rs. 75.156 Millions from Rs. 57.120 Millions.
CONTIGENT LIABILITIES
(Rs. In Millions)
(a) Guarantees given by bank in favour of buyer/Suppliers, and Central Excise for Rs. 59.824 Millions (Previous year Rs. 53.240 Millions).
(b) Letter of credit of Rs. 51.981 Millions (Previous year Rs. 51.324 Millions) opened in favour of Raw Material suppliers.
(c) Estimated amount of contracts remaining to be executed on capital account and not provided for Rs.110.330 Lacs (Previous year Rs.92.398 Millions) against which advances given Rs.92.216 Lacs (Previous year Rs.47.164 Lacs).
(d) Personal Guarantee by the Managing Director and Whole Time Director have been given to IDBI Bank Limited against working capital facilities sanctioned to Company.
(e) Uncompleted/reopened assessments of Sales Tax.
(f) Suit filed by NELCO for sum of Rs.0.227 Million against which a sum of Rs. 0.025 Million has been deposited in the City Civil Court, Ahmedabad.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10423485 |
12/04/2013 |
300,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74325242 |
|
2 |
10249620 |
10/11/2010 * |
60,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B00622092 |
|
3 |
80001481 |
12/04/2013 * |
750,000,000.00 |
IDBI Bank Limited |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74331596 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
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 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.62.31 |
|
|
1 |
Rs.101.78 |
|
Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
52 |
|
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 |
|
52 |
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.