|
Report Date : |
24.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
127/1, Industrial Area, GIDC, Ankleshwar – 393 002, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.12.1978 |
|
|
|
|
Com. Reg. No.: |
04-022924 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.014 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L99999GJ1978PLC022924 |
|
|
|
|
Legal Form : |
Subject was Listed on BSE Stock Exchange, but now it is delisted. |
|
|
|
|
Line of Business
: |
The Company is engaged in the Manufacturing of Fine and Specialty Chemicals
Specially Catering to Pharma, Cosmetic, Agro and Chemical Industries in both
Domestic and Export Market. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1734000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company appears to be above average. Trade relation reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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
India’s current account deficit narrowed in the quarter ended September as
government measures to curb imports, especially gold, kicked in. The
current account deficit, the excess of a country’s imports of goods and
services over exports, narrowed to $ 5.2 billion from $ 21 billion in the year
ago period, according to provisional Reserve Bank of India data. Finance
Minister P. Chidambaram said the CAD for the year will be less than $ 60
billion or 3 per cent of GDP and the latest data suggests the government may
achieve the target.
India was ranked 94th among the world’s most corrupt nations
list. Denmark and New Zealand topped as the cleanest while Somalia emerged as
the most corrupt.
India’s services sector activity witnessed a moderate improvement in
November over the previous month, even while indicating the fifth successive
monthly contraction, according the HSBC survey.
$53 million estimated losses suffered by India due to phishing attacks
during the third quarter, according to a study by RSA. India ranks fourth in
the list of nations hit by phishing attacks. The US remained at the top of the
charts. Phishing is the process of acquiring information such as user names,
passwords and credit card details by sending e-mails disguised as official
mails.
Rs.4080 million worth of mobile-phone-based transactions by July 2013 compared
to Rs.260 million in September, 2012, according to Deloitte report. The number
of transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000 million from the bandwidth auction set for
January. The merger and acquisition guidelines, cleared by a group of
ministers, will be out before the auction begins so that players can make
informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Rating=A |
|
Rating Explanation |
Adequate credit quality and average credit
risk. |
|
Date |
10.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term Rating=A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
10.12.2012 |
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 : |
127/1, Industrial Area, GIDC, Ankleshwar – 393 002, Gujarat, India |
|
Tel. No.: |
91-2646-222170 / 225870 |
|
Fax No.: |
91-2646-251787 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
3 A, Barodawala Mansion, 81 Dr. A.B. Road, Worli, Mumbai – 400 018,
Maharashtra, India |
|
Tel. No.: |
91-22-24938687 / 43625500 |
|
Fax No.: |
91-22-24974886 / 24974886 |
|
E-Mail : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Ashish S. Dani |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Hasit Dani |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Arvind Shah |
|
Designation : |
Whole-time Director (w.e.f. 10.08.2012) |
KEY EXECUTIVES
|
Name : |
P. N. Parikh |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON 31.03.2013
|
Name of
Shareholders |
Number
of Shares |
|
Ashwin S Dani |
143323 |
|
|
|
|
Total |
143323 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the Manufacturing of Fine and Specialty
Chemicals Specially Catering to Pharma, Cosmetic, Agro and Chemical
Industries in both Domestic and Export Market. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
HDFC Bank ·
Kotak Mahindra Bank |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
NOTES: Short Term
Borrowings: Working Capital Loans are Secured by hypothecation of all present and
future raw materials, finished goods, book debts, existing and future current
assets and movable and present immovable fixed assets. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Cost Auditors : |
|
|
Name : |
D. H. Zaveri and Company |
|
|
|
|
Auditors : |
|
|
Name : |
Deepak Shah and Company Chartered Accountants |
|
|
|
|
Companies
over which the Directors have controlling interest : |
·
Asian Paints Limited ·
Coating Specialities (India) Limited ·
Clear Mipak Packaging Solutions
Limited ·
Geetanjali Trading and Investments
Private limited ·
Hitech Plast Limited ·
Rangudyan Insurance Broking Services
Limited, ·
Resins and Plastics Limited ·
S. C. Research Foundation Private
Limited ·
Suryakant Paint Accessories Private
Limited ·
Pragati Chemicals Limited ·
Haish Holding and Trading Company
Private Limited ·
Isis Holding and Trading Company
Private Limited ·
Rayirth Holding and Trading Company
Private Limited ·
Smiti Holding and Trading Company
Private Limited ·
Cronus Merchandise LLP. |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
4000 |
8%
Non-Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.0.400 Million |
|
2000000 |
6% Cumulative Redeemable Non
–Convertible Preference Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.50.400
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
201430 |
Equity Shares |
Rs.10/- each |
Rs.2.014 Millions |
|
2000000 |
6% Cumulative Redeemable Non
–Convertible Preference Shares *** |
Rs.10/- each |
|
|
|
|
|
|
|
|
Total |
|
Rs.2.014
Millions |
1430 Equity shares were allotted beyond last 5
years pursuant to the scheme of amalgamation to the amalgamating company with
out payment being received in cash.
*** 2000000 12% Cumulative Redeemable
Non-Convertible Preference Shares have been redeemed at the option of the
company on 13.09.2012 by giving 1 month notice subject to the provisions of
section 80 of the Companies Act, 1956
The details of
Equity Shareholders holding more than 5% shares:
|
Name of
Shareholders |
Number
of Shares |
% of Holding |
|
Ashwin S Dani |
143323 |
71.15 |
The details of
Preference Shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% of holding |
|
Coating Specialities (India) Limited |
-- |
-- |
|
Geetanajali Trading and Investments
Private Limited |
-- |
-- |
|
S. C Dani Research Foundation Private
Limited |
-- |
-- |
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period:
|
Particulars |
As on 31.03.2013 Equity shares |
As on 31.03.2013 Preference shares |
||
|
Number |
Rs. In Millions |
Number |
Rs. In Millions |
|
|
Shares outstanding at the beginning of the year |
201430 |
2.014 |
2000000 |
20.000 |
|
Shares issued during the year |
-- |
-- |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
2000000 |
20.000 |
|
Shares outstanding at the end of the year |
201430 |
2.014 |
-- |
-- |
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 |
2.014 |
22.014 |
22.014 |
|
(b) Reserves & Surplus |
431.558 |
338.849 |
257.602 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
0.000 |
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
433.572 |
360.863 |
279.616 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
40.882 |
29.264 |
32.509 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(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) |
40.882 |
29.264 |
32.509 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
102.075 |
110.691 |
93.418 |
|
(b) Trade payables |
36.804 |
46.713 |
32.772 |
|
(c) Other current
liabilities |
16.629 |
15.797 |
7.364 |
|
(d) Short-term provisions |
6.256 |
5.730 |
4.834 |
|
Total Current Liabilities (4) |
161.764 |
178.931 |
138.388 |
|
|
|
|
|
|
TOTAL |
636.218 |
569.058 |
450.513 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
174.256 |
160.199 |
139.901 |
|
(ii) Intangible Assets |
0.191 |
0.205 |
0.215 |
|
(iii) Capital
work-in-progress |
10.840 |
3.231 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
4.820 |
4.920 |
4.917 |
|
(c) Deferred tax assets (net) |
30.475 |
27.197 |
26.637 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
6.495 |
|
(e) Other Non-current assets |
12.491 |
11.839 |
0.000 |
|
Total Non-Current Assets |
233.073 |
207.591 |
178.165 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
177.271 |
115.468 |
71.756 |
|
(b) Inventories |
100.907 |
115.214 |
95.115 |
|
(c) Trade receivables |
69.687 |
65.445 |
51.936 |
|
(d) Cash and cash
equivalents |
4.858 |
6.814 |
3.458 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
50.422 |
58.526 |
50.083 |
|
Total Current Assets |
403.145 |
361.467 |
272.348 |
|
|
|
|
|
|
TOTAL |
636.218 |
569.058 |
450.513 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
454.884 |
414.050 |
390.149 |
|
|
|
Other Income |
106.901 |
86.058 |
67.704 |
|
|
|
TOTAL (A) |
561.785 |
500.108 |
457.853 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
254.625 |
247.759 |
229.194 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
1.474 |
(3.863) |
13.706 |
|
|
|
Employee Benefits Expenses |
38.152 |
34.104 |
29.441 |
|
|
|
Other Expenses |
143.821 |
111.629 |
89.019 |
|
|
|
TOTAL (B) |
438.072 |
389.629 |
361.360 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
123.713 |
110.479 |
96.493 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.788 |
14.362 |
16.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
107.925 |
96.117 |
79.772 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
17.844 |
15.591 |
14.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
90.081 |
80.526 |
65.171 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(3.277) |
(0.561) |
0.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
93.358 |
81.087 |
64.728 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
145.085 |
63.838 |
191.498 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
0.000 |
191.498 |
|
|
|
Short Term Provision of Taxes of earlier
years |
0.008 |
0.000 |
0.815 |
|
|
|
Prior period adjustments |
0.641 |
(0.160) |
0.075 |
|
|
BALANCE CARRIED
TO THE B/S |
217.794 |
145.085 |
63.838 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
212.163 |
183.041 |
171.777 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
56.911 |
78.456 |
95.932 |
|
|
|
Capital Goods |
0.000 |
2.971 |
0.000 |
|
|
TOTAL IMPORTS |
56.911 |
81.427 |
95.932 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
463.48 |
395.63 |
314.40 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
|
Net sales |
118.600 |
151.500 |
|
Total Expenditure |
110.100 |
133.300 |
|
PBIDT (Excluding Other Income) |
8.400 |
18.200 |
|
Other income |
86.200 |
5.300 |
|
Operating Profit |
94.600 |
23.600 |
|
Interest |
3.100 |
4.100 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
91.400 |
19.500 |
|
Depreciation |
4.500 |
4.800 |
|
Profit Before Tax |
87.000 |
14.700 |
|
Tax |
1.200 |
4.600 |
|
Profit after tax |
85.800 |
10.200 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
85.800 |
10.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
16.62
|
16.21 |
14.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.80
|
19.45 |
16.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.27
|
15.09 |
15.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.22 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.33
|
0.39 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.49
|
2.02 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
Loans and
Advances from related parties |
|
|
|
Loan from Directors |
1.600 |
1.600 |
|
Fixed Deposits |
|
|
|
From public |
25.381 |
19.541 |
|
From Shareholders |
13.901 |
8.123 |
|
Short Term
Borrowings |
|
|
|
From public |
11.238 |
14.072 |
|
From Shareholders |
3.124 |
5.023 |
|
|
|
|
|
Total |
55.244 |
48.359 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10381410 |
04/03/2013
* |
185,000,000.00 |
HDFC
BANK LIMITED |
HDFC
BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI – 400 013, MAHARASHTRA,
INDIA |
B71293658 |
* Date of charge modification
OPERATIONS:
Net Sales
for the year 2012-2013 increased to Rs.454.884 Millions from Rs.414.050
Millions in the previous year-a growth of 9.86%.
In the quantitative terms, Sates for the year ending
March 2013 was more or less same as in the corresponding period of the previous
year due to enforced blanket restriction on expansion.
Profit during the year after interest, depreciation
and taxation was Rs.94.146 Millions as against 81.086 Millions for the
corresponding previous year
OUTLOOK:
Prices of Raw Materials were on rising trend and
fluctuated widely, but we were able to keep under control our average purchase
prices for the year.
Cost of utility particularly Gas has substantially
gone up during the year. It has gone up from average rate of Rs.21.15 per SCM
in 11-12 to Rs.30.59 per SCM in 12-13, increase of 44.54%. Also the power has
gone up from average rate of Rs.6.37 per Unit in 11·12 to Rs. 7.12 per Unit in
12-13, increase of 11.77%.
Cost of Labour had also gone up due to increase in Minimum wages by
10.11% as compared to last year
Also general inflation was at all time high.
This all had impact on our Margins.
FIXED ASSETS:
·
Buildings
·
Plant and Machinery
·
Electrical Installations
·
Pipe Fittings
·
Storage Tank
·
Furniture and Fixture
·
Vehicles
·
Office Equipment
·
Patent
STATEMENT OF
AUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER
2013
(Rs. In Millions)
|
Particulars |
Quarter Ended (Audited) |
Half Year Ended (Audited) |
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
151.872 |
117.002 |
268.874 |
|
b) Other operating income |
(0.365) |
1.559 |
1.194 |
|
Total
income from Operations(net) |
151.507 |
118.561 |
270.068 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
81.305 |
68.094 |
149.399 |
|
b) trading Purchase |
3.800 |
0.000 |
3.800 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(2.269) |
(7.842) |
(10.111) |
|
d) Employees benefit expenses |
10.072 |
10.659 |
20.731 |
|
e) Depreciation and amortization expenses |
4.745 |
4.481 |
9.226 |
|
f) Power and Fuel |
23.736 |
22.146 |
45.882 |
|
g) Other expenditure |
20.421 |
17.078 |
37.499 |
|
Total expenses |
138.048 |
114.616 |
252.664 |
|
3. Profit from operations before other income and
financial costs |
13.459 |
3.945 |
17.404 |
|
4. Other income |
5.343 |
86.160 |
91.503 |
|
5. Profit from ordinary activities before finance costs |
18.802 |
90.105 |
108.907 |
|
6. Finance costs |
4.077 |
3.142 |
7.219 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
14.725 |
86.963 |
101.688 |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
14.725 |
86.963 |
101.688 |
|
10.Tax expenses |
|
|
|
|
-
Current Year |
1.650 |
0.450 |
2.100 |
|
-
Deferred Tax |
2.915 |
0.757 |
3.672 |
|
11.Net Profit
/ (Loss) from ordinary activities after tax (9-10) |
10.160 |
85.756 |
95.916 |
|
12.Extraordinary Items (net of tax expense) |
|
|
|
|
13.Net Profit / (Loss) for the period (11 -12) |
|
|
|
|
14.Paid-up
equity share capital (Nominal value Rs.10/- per share) |
2.014 |
2.014 |
2.014 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
16.i) Earnings per share (before extraordinary items)
of Re. 1/- each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
50.43 |
425.74 |
476.17 |
|
ii) Earnings per share (after extraordinary items) |
|
|
|
|
(a) Basic and diluted |
50.43 |
425.74 |
476.17 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
52006 |
52006 |
52006 |
|
- Percentage of shareholding |
25.82 |
25.82 |
25.82 |
|
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 |
149424 |
149424 |
149424 |
|
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) |
74.18 |
74.18 |
74.18 |
|
B.
Investor Complaints |
30.09.2013 |
|
Pending at the beginning of the quarter |
-- |
|
Receiving during the quarter |
-- |
|
Disposed of during the quarter |
-- |
|
Remaining unreserved at the end of the quarter |
-- |
Notes:
1. The above results
have been taken on record by Board of Directors of the Company at its Meeting
held on 12th November 2013.
2. Previous year's figures
have been regrouped wherever necessary.
3. The figures for
the last quarter are the balancing figures between audited figures in respect
of the half financial ear and the published year to date figures upto the first quarter of the current financial ear.
SEGMENT REPORTING
(Rs. In
Millions)
|
Particulars |
Quarter
Ended (Audited) |
Half
Year Ended (Audited) |
|
|
|
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
1.
Segment Revenue |
|
|
|
|
a. Manufacturing |
151.507 |
118.561 |
270.068 |
|
b. Investments |
5.343 |
86.160 |
91.503 |
|
Total |
156.850 |
204.721 |
361.571 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Depreciation, Interest and Tax) |
|
|
|
|
a. Manufacturing |
18.224 |
8.438 |
26.663 |
|
b. Investments |
5.323 |
86.148 |
91.470 |
|
Less
: Depreciation |
4.745 |
4.481 |
9.226 |
|
Less
: Finance Cost |
4.077 |
3.142 |
7.219 |
|
Profit
before Tax |
14.725 |
86.963 |
101.688 |
|
|
|
|
|
|
3.
Capital Employed |
|
|
|
|
a. Manufacturing |
267.798 |
251.245 |
267.798 |
|
b. Investments |
258.732 |
268.533 |
258.732 |
|
|
|
|
|
|
Total |
526.530 |
519.778 |
526.530 |
STANDALONE STATEMENT OF ASSETS AND
LIABILITIES
(Rs. In Millions)
|
SOURCES OF FUNDS |
30.09.2013 (Unaudited) |
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
2.014 |
|
(b) Reserves & Surplus |
526.530 |
|
Total
Shareholders’ Funds |
528.544 |
|
|
|
|
(2)
Non-Current Liabilities |
|
|
(a) long-term borrowings |
62.708 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
|
(c) Other long term liabilities |
0.000 |
|
(d) long-term provisions |
0.000 |
|
Total Non-current Liabilities (3) |
62.708 |
|
|
|
|
(3) Current Liabilities |
|
|
(a) Short term borrowings |
111.425 |
|
(b) Trade payables |
72.941 |
|
(c) Other current
liabilities |
18.927 |
|
(d) Short-term provisions |
7.078 |
|
Total Current Liabilities (4) |
210.371 |
|
|
|
|
TOTAL |
801.623 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
184.859 |
|
(b) Non-current Investments |
4.817 |
|
(c) Deferred tax assets (net) |
26.803 |
|
(d) Long-term Loan and Advances |
0.000 |
|
(e) Other Non-current assets |
13.103 |
|
Total Non-Current Assets |
229.582 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
255.615 |
|
(b) Inventories |
121.247 |
|
(c) Trade receivables |
130.666 |
|
(d) Cash and cash
equivalents |
7.572 |
|
(e) Short-term loans and
advances |
0.000 |
|
(f) Other current assets |
56.941 |
|
Total Current Assets |
572.041 |
|
|
|
|
TOTAL |
801.623 |
PRESS
RELEASE:
Notice
is hereby given pursuant to Section 192A (2) of the Companies Act, 1956 and all
other applicable provisions, if any, read with the Companies (Passing of the
Resolution by Postal Ballot) Rules, 2011 and Regulation 8 (1) (b) of the
Securities and Exchange Board of India (Delisting of Equity Shares)
Regulations, 2009 (the "SEBI Delisting Regulations"), as amended from
time to time, to the members of Gujarat Organics Limited (the
"Company") to consider and if thought fit pass the resolution herein
below as 'special resolution' by postal ballot.
The Company has received a letter dated May 24, 2013 from
Rayirth Holding and Trading Company Private Limited and Geetanjali Trading and
investments Private Limited, the promoters of the Company, stating their
intention to seek voluntary delisting of the equity shares of the Company from
BSE Limited and Ahmedabad Stock Exchange Limited (together, the "Stock
Exchanges") by offering to acquire the public shareholding.
Pursuant to the Regulation 8 (I) (b) of the SEBI Delisting
Regulations, approval of public shareholders of the Company by special resolution
passed through Postal Ballot is essential for a company seeking to voluntarily
delist its equity shares from the Stock Exchanges where the shares are listed.
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 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.61.99 |
|
UK Pound |
1 |
Rs.102.67 |
|
Euro |
1 |
Rs.83.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
50 |
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.