MIRA INFORM REPORT
|
Report Date : |
12.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
UNIQUE ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
E-521, Sitapura Industrial Area, Jaipur – 302 022, Rajasthan |
|
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
13.01.1993 |
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|
|
|
Com. Reg. No.: |
17-007148 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.59.684 Millions |
|
|
|
|
CIN No.: [Company Identification No.] |
L24119RJ1993PLC007148 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
JPRU02376D |
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|
|
PAN No.: [Permanent
Account No.] |
AAACU2216R |
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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
: |
Subject is engaged in the business of trading of feed
ingredients with insignificant processing of spices. |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 310000 |
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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. The rating reflects susceptibility of UOL’s operating margin to raw
material price fluctuations and geographical concentration in revenues.
Further external borrowing of the company has increased over a year. However, trade relations 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating=BB- |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
02.07.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating=A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
02.07.2013 |
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.
LOCATIONS
|
Registered Office / Works : |
E-521, Sitapura Industrial Area, Jaipur – 302022, |
|
Tel. No.: |
91-141-2770315 / 2771100 |
|
Fax No.: |
91-141-2770219 / 2553071/ 2770509 |
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E-Mail : |
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|
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City Office : |
O-407, Arihant Plaza, Near Ajit Petrol Pump, Calgiri Eye hospital
Road, malviya Nagar, Jaipur , Rajasthan, India. |
|
Tel. No.: |
91-141-4020626 / 3106382/ 2521804 |
|
Fax No.: |
91-141-2523653 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. J P Kanodia |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Ms.Madhu Kanodia |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Dilip Kumar Joshi |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Amardeep Singh Ahluwalia |
|
Designation : |
Director |
SHAREHOLDING PATTERN
AS ON 31.12.2013
|
Category of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
1656394 |
27.82 |
|
|
1656394 |
27.82 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1656394 |
27.82 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
187500 |
3.15 |
|
|
187500 |
3.15 |
|
|
|
|
|
|
219294 |
3.68 |
|
|
|
|
|
|
2269401 |
38.12 |
|
|
1542421 |
25.91 |
|
|
77990 |
1.31 |
|
|
77990 |
1.31 |
|
|
4109106 |
69.03 |
|
Total Public shareholding (B) |
4296606 |
72.18 |
|
Total (A)+(B) |
5953000 |
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) |
5953000 |
0.00 |
(1) Indian
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of trading of feed
ingredients with insignificant processing of spices. |
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Products : |
· Oleoresin · Spices · Oil Seeds · Herbs · Dehydrated Products · Food Grains · Organic Foods · Meal
|
PRODUCTION STATUS (AS ON 31.03.2012)
|
Particulars |
Unit |
Installed
Capacity |
Installed
|
Actual
Production (Kg.) |
|
Chilli Powder |
Kg. |
NA |
4800 MT |
36768.63 |
|
Turmeric Powder |
Kg. |
50559.79 |
||
|
Coriander Powder |
Kg. |
3068.90 |
||
|
Other Spices |
Kg. |
-- |
NOTES:
·
As explained to us, no license is required for the
company's products.
·
Installed Capacity is taken as certified by the management
taken for the year end.
·
Figures written in brackets relate to the previous
year.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Bank of Baroda, Nehru Place, Tonk Road, Jaipur, Rajasthan, India |
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Facilities : |
NOTES: Short Term
Borrowings: Packing Credit Limit, Foreign
Bill Purchase limit and Cash Credit limit with Bank of Baroda, Nehru place, Jaipur is collaterally secured by Equitable
mortgage of Company's land & Building at Sitapura Industrial Area, house situated at K-26, Income Tax Colony, Durgapura, Jaipur bevotlging to Mr. J. P. Kanodia. Managing Director, extension of equitable
mortgage of office No.407, 4th floor, Arihant Plaza, Malviya Nagar,
Jaipur, belonging to the relative of a director, Hypothecation of Plant B Machineries and all present and future fixed assets, hypothecation of Raw Materials, Work in
Progress, Finished Goods, Book Debts and other properties, bearing interest @11.50% p.a. (Previous Year 11.50% p.a.) in case of PC and FBP and 16% p,a. (Previous Year 16.25% p.a.) in case of CC limit |
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.K. Meharia and Associates Chartered Accountants |
|
Address : |
2, Garstin Place, 5th Floor, Kolkata – 700 001, West
Bengal, India |
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|
|
|
Internal
Auditors : |
|
|
Name : |
Gourisaria Goyal and Company Chartered Accountants |
|
Address : |
1st Floor, 43-A, Everest Colony, Near Nagar Nigam Office, Lal
Kothi, Jaipur – 302 015, Rajasthan, India |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
|
1000000 |
Preference Shares |
Rs.100/- each |
Rs.10.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5971500 |
Equity Shares |
Rs.10/- each |
Rs.59.715 Millions |
|
|
Less: Face Value of
18,500 Equity Shares Forfeited |
|
Rs.0.185 Million |
|
|
Add: Forfeited
Shares (Amount Originally Paid) |
|
Rs.0.154 Millions |
|
|
Calls Unpaid |
|
|
|
|
On 18,500 Equity Shares |
|
-- |
|
|
|
|
|
|
|
Total |
|
Rs.59.684
Millions |
Note: Issued Shares as on 31.03.2013 includes 18,500 equity shares forfeited during the
year.
a. Terms/Rights
attached to equity shares.
The company has only one
class of equity shares having as per value of Rs.10 per share.
Each holder of equity shares is entitled to one vote per share. The dividend proposed by the Board of
Directors is subject to the approval of the shareholders except in the case of
interim dividend. In the event
of liquidation, the holders of equity shares
will be entitled to receive remaining assets of the company, after
distribution of all preferential amount in proportion of their shareholding.
b. Terms/Rights
attached to Preference Shares.
The company had 1,00,000 9% Non-Cumulative
Redeemable Preference Shares having
at par value of Rs.100 per share
redeemable after seven years
from the date of allotment. Each holder of preference shares is entitled to one vote per share in the meeting of preference
shareholders of the company. In the event of distribution of dividend and
liquidation, the preference shareholders have preferential right over equity
shareholders. All preference shares were
redeemed on 10th July, 2012.
c. Details of equity
shares held by shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Jyoti Prakash Kanodia |
642494 |
10.79% |
|
Sarla Devi Kancdia |
578800 |
9.72% |
d. The reconciliation
of the number of shares outstanding is set out below:
|
Equity Shares |
Number
of Shares |
|
Shares outstanding at the beginning of the year |
5971500 |
|
Less: Shares forfeited during the year |
18500 |
|
Equity shares at the end of the year |
5953000 |
Preference Shares
|
Equity Shares |
Number
of Shares |
|
Preference Shares at the beginning of the
year |
100000 |
|
Less: Shares redeemed
during the year |
(100000) |
|
Preference shares at the end of the year |
0.000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
59.684 |
69.684 |
69.684 |
|
(b) Reserves & Surplus |
19.834 |
7.921 |
(4.642) |
|
(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) |
79.518 |
77.605 |
65.042 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
3.406 |
0.120 |
0.416 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
3.406 |
0.120 |
0.416 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
208.971 |
160.701 |
73.805 |
|
(b) Trade payables |
10.383 |
1.559 |
15.078 |
|
(c) Other current liabilities |
12.387 |
12.850 |
0.000 |
|
(d) Short-term provisions |
18.220 |
5.045 |
0.732 |
|
Total Current Liabilities (4) |
249.961 |
180.155 |
89.615 |
|
|
|
|
|
|
TOTAL |
332.885 |
257.880 |
155.073 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
20.017 |
20.953 |
21.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.428 |
0.428 |
0.457 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
20.445 |
21.381 |
21.457 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
8.616 |
22.908 |
7.848 |
|
(c) Trade receivables |
273.709 |
192.180 |
107.671 |
|
(d) Cash and cash
equivalents |
3.209 |
1.606 |
2.284 |
|
(e) Short-term loans and
advances |
3.023 |
0.899 |
0.638 |
|
(f) Other current assets |
23.883 |
18.906 |
15.175 |
|
Total Current Assets |
312.440 |
236.499 |
133.616 |
|
|
|
|
|
|
TOTAL |
332.885 |
257.880 |
155.073 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1622.560 |
1210.288 |
586.101 |
|
|
|
Other Income |
12.985 |
12.956 |
22.307 |
|
|
|
TOTAL (A) |
1635.545 |
1223.244 |
608.408 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2.774 |
11.877 |
0.812 |
|
|
|
Purchase of Stock-in-trade |
1319.174 |
950.945 |
498.470 |
|
|
|
Increase/(Decrease) in Inventories |
14.286 |
(20.862) |
5.710 |
|
|
|
Employee Benefits Expenses |
3.828 |
3.632 |
1.304 |
|
|
|
Other Expenses |
246.942 |
247.361 |
92.165 |
|
|
|
TOTAL (B) |
1587.004 |
1192.953 |
598.461 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
48.541 |
30.291 |
9.947 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.845 |
12.090 |
2.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
34.696 |
18.201 |
7.326 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
1.461 |
0.888 |
1.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
33.235 |
17.313 |
5.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.404 |
4.749 |
1.148 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
18.831 |
12.564 |
4.801 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.114 |
(6.450) |
(11.251) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to Capital Redemption Reserve |
(4.000) |
(6.000) |
0.000 |
|
|
|
Proposed Equity Dividend (Rs.1.00 Per
Share) |
(5.953) |
0.000 |
0.000 |
|
|
|
Tax on Proposed Equity Dividend |
(0.966) |
0.00 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
8.026 |
0.114 |
(6.450) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1198.081 |
992.591 |
NA |
|
|
TOTAL EARNINGS |
1198.081 |
992.591 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.16 |
2.11 |
0.80 |
|
QUARTERLY RESULTS
|
Particulars |
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
|
1st
Quarter |
2nd Quarter |
3rd
Quarter |
|
Net sales |
479.400 |
348.200 |
667.900 |
|
Total Expenditure |
471.300 |
334.500 |
651.300 |
|
PBIDT (Excluding Other Income) |
8.100 |
13.700 |
16.600 |
|
Other income |
14.900 |
11.000 |
2.900 |
|
Operating Profit |
23.000 |
24.700 |
19.500 |
|
Interest |
3.600 |
1.300 |
4.400 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
19.400 |
23.400 |
15.200 |
|
Depreciation |
0.400 |
0.400 |
0.400 |
|
Profit Before Tax |
19.000 |
23.000 |
14.800 |
|
Tax |
6.200 |
7.500 |
4.900 |
|
Profit after tax |
12.900 |
15.500 |
9.900 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
12.900 |
15.500 |
9.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.15
|
1.03 |
0.80 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.05
|
1.43 |
1.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.98
|
6.71 |
3.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.22 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.63
|
2.07 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.31 |
1.49 |
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 |
No |
|
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 |
No |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS:
During the year subject registered, remarkable growth in turnover despite stiff competition in international
market. As is evident, the turnover increased to Rs.16.016 Millions during the year from
Rs.11.847 Millions during the previous year. Thus registering
an increase by 35.19%.
The directors of subject has
successfully embarked its programme to expand the market abroad and hope to
achieve even further better working results in the current year except
the unforeseen circumstances beyond
the control of subject.
Subject has plan to establish necessary
network to ease out the timely shipment and has plans to further expand the market and strengthen our operations.
MANAGEMENT
DISCUSSION AND ANALYSIS:
The directors of subject has occupied a good market
share for animal feed. The management discussion and analysis is given
as under:
·
Industry structure and development:
The spices and oilseeds industry continued
to pass through a difficult phase during the year due to the unfavorable raw materia1 prices, heavy fluctuation in Euro zone countries and
stiff competition.
·
Industry structure and
development:
The splices and oilseeds
industry continued to pass through a
difficult phase during the
year due to the unfavorable raw
material prices, heavy fluctuation
in Euro zone countries and stiff competition from the manufacturers all over the world.
Despite this, subject has been able to come up with commendable working results
with even higher expectation in the
years to come.
·
Opportunity and threats:
The directors are making efforts to explore
new markets mainly for animal feed and are hopeful to achieve even better working results in future. However the company has no control over
sudden change in prices of
raw materials and changes in Government fiscal policies.
·
Segment wise performance:
Subject deals in Other Agricultural Products mainly trading of feed
ingredients with insignificant processing of spices.
SPICPS:
Semi-automatic plant has already been
installed. Production will grow as per the requirements and demand.
FEED:
Maximum business of subject is from animal feed export. Looking
to the regular demand of animal Feed
throughout the world and India being a competitive supplier. We expect regular growth in the business. Presently, subject is catering to South-east Asian countries
with a vision to explore European Market in near future.
OUTLOOK:
Excellent forward visibility and expectedly hope to achieve steady
growth in 2013-14. Subject is entering into new markets and contacting new
buyers overseas to expand business as may be possible by making available the
quality products at competitive prices. For the domestic market, in contact
with big institutional buyers, food / snack processors for tie ups and are also
planning to display subject’s products in international exhibitions during
2013-14.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80015229 |
22/01/2013
* |
257,500,000.00 |
BANK
OF BARODA |
NEHRU
PLACE BRANCH, TONK ROAD, JAIPUR - 302012, RAJASTHAN, INDIA |
B67427419 |
|
2 |
90072653 |
31/08/1995
* |
3,700,000.00 |
BANK
OF BARODA |
NEHRU
PLACE, JAIPUR, RAJASTHAN, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
·
Land and Site Development
·
Building and Civil Work
·
Plant and Machinery
·
Lab Equipments
·
Electric Installation
·
Furniture and Fixtures
·
Electrical Equipments
·
Office Equipments
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE
QUARTER AND 3 MONTHS ENDED ON 31.12.2013
(Rs. In Millions)
|
Particulars |
3 Months ended 31.12.2013 |
Preceding 3 Months ended 30.09.2013 |
Year to date figures for current period ended 31.12.2013 |
|
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
618.837 |
342.467 |
1477.748 |
|
b) Other operating income |
6.028 |
5.727 |
17.716 |
|
Total
income from Operations(net) |
667.865 |
348.194 |
1495.464 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
0.032 |
0.130 |
0.355 |
|
b) Purchases of stock in trade |
595.365 |
26.648 |
1299.810 |
|
c) Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(10.662) |
25.621 |
(32.295) |
|
d) Employees benefit expenses |
0.984 |
0.973 |
2.768 |
|
e) Depreciation and amortization expenses |
0.375 |
0.373 |
1.115 |
|
f) Other expenditure |
4.180 |
7.281 |
22.395 |
|
g) Clearing and Forwarding Expenses |
61.371 |
39.821 |
163.993 |
|
Total expenses |
651.645 |
334.847 |
1458.141 |
|
3. Profit from operations before other income and
financial costs |
16.220 |
13.347 |
37.323 |
|
4. Other income |
2.936 |
10.956 |
28.762 |
|
5. Profit from ordinary activities before finance costs |
19.156 |
24.303 |
66.085 |
|
6. Finance costs |
4.368 |
1.303 |
9.278 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
14.788 |
23.000 |
56.807 |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
14.788 |
23.000 |
56.807 |
|
10.Tax expenses |
4.883 |
7.463 |
18.517 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
9.905 |
15.537 |
38.290 |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
9.905 |
15.537 |
38.290 |
|
14.Paid-up
equity share capital |
59.530 |
59.530 |
59.530 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
19.834 |
19.834 |
19.834 |
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
1.66 |
2.61 |
6.43 |
|
(a) Basic and diluted |
|
|
|
|
ii) Earnings per share (after extraordinary items) |
|
|
|
|
(a) Basic and diluted |
1.66 |
2.61 |
6.43 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
4296606.00 |
4296606.00 |
4296606.00 |
|
- Percentage of shareholding |
72.18 |
72.18 |
72.18 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
-- |
-- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
-- |
-- |
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
-- |
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
1656394.00 |
1656394.00 |
1656394.00 |
|
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) |
27.82 |
27.82 |
27.82 |
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 pyments 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.62.44 |
|
UK Pound |
1 |
Rs.102.48 |
|
Euro |
1 |
Rs.85.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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.