.
MIRA
INFORM REPORT
|
Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ARCOTECH LIMITED |
|
|
|
|
Registered
Office : |
181, Sector 3, Industrial Growth Centre, Bawal, District Rewari,
Bawal-123 501, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.08.1981 |
|
|
|
|
Com. Reg. No.: |
05-012151 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 200.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L34300HR1981PLC012151 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS2437G |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s shares are listed on the
Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Non Ferrous Metal Semis. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Profitability of the company appears to be decent. Trade relation are fair. Business is active. Payment terms re reported
to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 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 |
ICRA |
|
Rating |
Fund based limit: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
July 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non - fund based limit: A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
July 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/ Factory : |
181, Sector 3, Industrial Growth Centre, Bawal, District Rewari,
Bawal-123 501, |
|
Tel. No.: |
91-1284-264160 / 264161 |
|
Mobile No.: |
91-9312880026 (Mr. Saha) |
|
Fax No.: |
91-1284-264022 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
25000 sq ft |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
F-701 A, Lado Sarai, New Delhi-110030, |
|
Tel. No.: |
91 -11 - 29523251, 32503334 |
|
Fax No.: |
91 -11 - 29523020 |
|
Area : |
1000 sq ft |
|
Location : |
Rented |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Arvind K. Saraf |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. R. N. Pattanayak |
|
Designation : |
Whole Time Director |
|
|
|
|
Name : |
Mr. Gautam Khaitan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. R. D. Tayal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Amit Sharma |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2013
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
|
|
As a % |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
3576004 |
17.03 |
|
|
11368732 |
54.14 |
|
|
14944736 |
71.17 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
14944736 |
71.17 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
44000 |
0.21 |
|
|
6900 |
0.03 |
|
|
1782994 |
8.49 |
|
|
1833894 |
8.73 |
|
|
|
|
|
|
3782580 |
18.01 |
|
|
|
|
|
|
373689 |
1.78 |
|
|
52630 |
0.25 |
|
|
12471 |
0.06 |
|
|
250 |
0.00 |
|
|
12221 |
0.06 |
|
|
4221370 |
20.10 |
|
Total Public shareholding (B) |
6055264 |
28.83 |
|
Total (A)+(B) |
21000000 |
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) |
21000000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Non Ferrous Metal Semis. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Non-ferrous
metal Semis |
MT |
12000 |
12000 |
5440.80 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
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|
||||||||||||||||||||||||
|
Bankers : |
Punjab National Bank, International Banking Branch. |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shwetank Joshi and Company Chartered Accountants |
|
Address : |
66, |
|
|
|
|
Other related
parties: |
· Arcotech International Limited-100% subsidiary · Arcotech Info Limited · Arcotech Biochem Limited · Arcotech Uniexpat Limited · Medsave Healthcare (TPA) Limited · Sidhant Distributors Private Limited · Vasudha Commercial Private Limited · Jeevan Vihar Properties Private Limited · Sarathi Infrastructure Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000
Millions |
|
|
|
|
|
Note:
Since, the shares outstanding at the beginning and at the end of the reporting period are same, reconciliation of the figures is not required
Details of shareholders holding more than 5% shares in the company
|
|
As
At 31.03.2013 |
|
|
No.
of Shares |
%
holding |
|
|
Arvind k Saraf |
1219750 |
6.10 |
|
Sidhant
Distributors Private Limited |
4813940 |
24.07 |
|
Vasudha
Commercial Private Limited |
3773920 |
18.87 |
|
Her Clothing
Private Limited |
1250000 |
6.25 |
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 |
200.000 |
200.000 |
200.000 |
|
(b) Reserves & Surplus |
798.087 |
569.027 |
391.631 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
51.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1049.087 |
769.027 |
591.631 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
160.841 |
55.789 |
92.671 |
|
(b) Deferred tax liabilities (Net) |
56.294 |
9.674 |
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) |
217.135 |
65.463 |
92.671 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1190.011 |
716.207 |
575.322 |
|
(b) Trade payables |
691.978 |
442.460 |
278.883 |
|
(c) Other current
liabilities |
114.453 |
67.335 |
74.928 |
|
(d) Short-term provisions |
80.733 |
29.206 |
1.972 |
|
Total Current Liabilities (4) |
2077.175 |
1255.208 |
931.105 |
|
|
|
|
|
|
TOTAL |
3343.397 |
2089.698 |
1615.407 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
691.899 |
491.726 |
412.627 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
16.874 |
20.691 |
15.230 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.070 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
17.361 |
|
(d) Long-term Loan and Advances |
2.839 |
1.848 |
1.839 |
|
(e) Other Non-current assets |
40.415 |
2.665 |
2.665 |
|
Total Non-Current Assets |
752.097 |
516.930 |
449.722 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1104.358 |
679.807 |
474.807 |
|
(c) Trade receivables |
1259.517 |
768.288 |
645.801 |
|
(d) Cash and cash equivalents |
88.789 |
46.144 |
21.728 |
|
(e) Short-term loans and
advances |
138.636 |
76.055 |
22.316 |
|
(f) Other current assets |
0.000 |
2.474 |
1.033 |
|
Total Current Assets |
2591.300 |
1572.768 |
1165.685 |
|
|
|
|
|
|
TOTAL |
3343.397 |
2089.698 |
1615.407 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3690.737 |
2528.397 |
2022.396 |
|
|
|
Other Income |
19.956 |
5.209 |
3.381 |
|
|
|
TOTAL (A) |
3710.693 |
2533.606 |
2025.777 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in finished goods, Stock in Trade and Work-in Progress |
(87.850) |
(185.450) |
(171.590) |
|
|
|
Cost of Materials Consumed |
3058.909 |
2166.446 |
1727.582 |
|
|
|
Power and Fuel |
87.215 |
59.309 |
49.614 |
|
|
|
Employees Cost |
63.625 |
53.295 |
40.356 |
|
|
|
Other Expenditure |
99.791 |
52.351 |
45.545 |
|
|
|
TOTAL (B) |
3221.690 |
2145.951 |
1691.507 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
489.003 |
387.655 |
334.270 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
153.858 |
134.548 |
101.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
335.145 |
253.107 |
232.724 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
27.938 |
22.277 |
17.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
307.207 |
230.830 |
215.552 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.147 |
53.434 |
73.836 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
229.060 |
177.396 |
141.716 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
229.060 |
177.396 |
141.716 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
103.399 |
25.278 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
146.501 |
18.543 |
35.610 |
|
|
|
Components and Spare Parts |
0.929 |
0.000 |
0.996 |
|
|
|
Capital Goods |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
147.430 |
18.543 |
36.606 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.45 |
8.87 |
7.09 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.17
|
7.00 |
7.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.32
|
9.13 |
10.66 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.24
|
11.16 |
13.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.30 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.29
|
1.00 |
1.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.25 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
BUSINESS AND
OPERATIONS REVIEW
The Company is one of the leading manufacturers of non-ferrous semis in India. During the year, the Company has received prestigious order worth more than Rs 3610.000 Millions from India Government Mint through global tender for supply of Nickel Brass for manufacturing of Rs 5/- Coin blanks.
The capex plan which was initiated last year has helped the Company to produce bigger billets and to obtain larger coil weights as per international market requirement and at the same time enabled Company to bring better economies of scales and to reduce cost of production per unit . The installed capacity of the plant has also doubled to 24000 MTPA.
MANAGEMENT DISCUSSION
AND ANALYSIS
(a) Industry Scenario
and Future Challenges
During the year, Industrial Output of the economy has been sluggish; primarily because of higher interest rates in macroeconomic concerns. However, the Company's approach of diversification of customer base has helped it to maintain steady growth.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Fixed Deposit |
2.394 |
2.394 |
|
|
|
|
|
Total |
2.394 |
2.394 |
UNAUDITED FINANCIAL RESULTS
FOR THE HALF YEAR ENDED 30TH SEPTEMBER, 2013
(Rs. In Millions)
|
Sr. No |
Particulars |
|
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
Quarter Ended |
Half Year ended |
|||
|
|
Income from
operations |
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
1 |
Gross Sale |
1425.528 |
1220.971 |
2646.499 |
|
|
Less: Excise Duty |
159.653 |
133.113 |
292.766 |
|
|
Net Sales |
1265.875 |
1087.858 |
2353.733 |
|
|
Other Operating Income |
0.168 |
0.130 |
0.298 |
|
|
Total Income from operating (net) |
1266.043 |
1087.988 |
2354.031 |
|
2 |
Expenses |
|
|
|
|
|
(a) Cost of materials consumed |
1289.198 |
1012.613 |
2301.811 |
|
|
(b) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(358.415) |
(180.953) |
(539.368) |
|
|
(c) Power and Fuel |
39.514 |
27.455 |
66.969 |
|
|
(d) Employee Cost |
20.917 |
15.199 |
36.116 |
|
|
(e) Depreciation |
8.791 |
8.720 |
17.511 |
|
|
(f) Other expenses |
68.377 |
38.304 |
106.681 |
|
|
Total expenses |
1068.382 |
921.338 |
1989.720 |
|
3 |
Profit / (Loss) from operations before other income, finance costs and exceptional items (1-2) |
197.661 |
166.650 |
364.311 |
|
4 |
Other income |
2.403 |
2.796 |
5.199 |
|
5 |
Profit / (Loss) from ordinary activities before finance costs and exceptional items (3 + 4) |
200.064 |
169.446 |
369.510 |
|
6 |
Finance Cost |
79.967 |
65.006 |
144.973 |
|
7 |
Profit / (Loss) from ordinary activities after finance costs but before exceptional items (5 + 6) |
120.097 |
104.440 |
224.537 |
|
8 |
Exceptional items |
-- |
--- |
-- |
|
9 |
Profit / (Loss) from ordinary activities before tax (7+8) |
120.097 |
104.440 |
224.537 |
|
10 |
Tax expense |
44.578 |
33.891 |
78.469 |
|
11 |
Net Profit / (Loss) from ordinary activities after tax (9 + 10) |
75.519 |
70.549 |
146.068 |
|
12 |
Extraordinary items (net of tax expense) |
-- |
-- |
-- |
|
13 |
Net Profit / (Loss) for the period (11 + 12) |
75.519 |
70.549 |
146.068 |
|
14 |
Paid-up equity share capital (Face Value Rs 10/-) |
210.000 |
210.000 |
210.000 |
|
15 |
Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16 |
Basic & Diluted Earning Per Share before extraordinary items( not annualised) |
3.60 |
3.36 |
6.96 |
|
17 |
Basic & Diluted Earning Per Share after extraordinary items (not annualised) |
3.60 |
3.36 |
6.96 |
|
Sr. No |
Particulars |
Unaudited |
Unaudited |
|
|
|
|
Quarter Ended |
Half Year ended |
|
|
A 1 |
PARTICULARS OF
SHAREHOLDING |
30.09.2013 |
30.06.2013 |
30.09.2013 |
|
|
Public
shareholding |
|
|
|
|
|
-
Number
of shares |
6055264 |
6055264 |
6055264 |
|
|
- Percentage of
shareholding |
28.83 |
28.83 |
28.83 |
|
2 |
Promoters and Promoter
Group Shareholding |
|
|
|
|
|
a) Pledged / Encumbered - Number of shares |
-- |
-- |
-- |
|
|
- Percentage of shares
(as a % of the total shareholding of promoter and promoter group) |
-- |
-- |
-- |
|
|
-
Percentage of shares (as a % of the total share capital of the company) |
-- |
-- |
-- |
|
|
b) Non-encumbered |
|
|
|
|
|
- Number of shares |
14944736 |
14944736 |
14944736 |
|
|
-
Percentage of shares (as a % of the total shareholding of promoter and
promoter group) |
100 |
100 |
100 |
|
|
- Percentage
of shares (as a % of the total share capital of the company) |
71.17 |
71.17 |
71.17 |
|
Particulars |
Quarter ended 30.09.2013 |
|
B INVESTOR COMPLAINTS (Nos) |
|
|
Pending
at the beginning of the quarter |
NIL |
|
Received
during the quarter |
NIL |
|
Disposed
of during the quarter |
NIL |
|
Remaining
unresolved at the end of the quarter |
NIL |
|
SOURCES OF FUNDS |
30.09.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
210.000 |
|
(b) Reserves & Surplus |
985.155 |
|
(c) Money
received against share warrants |
0.000 |
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1195.155 |
|
|
|
|
(3)
Non-Current Liabilities |
|
|
(a) long-term borrowings |
139.383 |
|
(b) Deferred tax liabilities (Net) |
70.405 |
|
(c) Other long term liabilities |
0.000 |
|
(d) long-term provisions |
0.000 |
|
Total Non-current Liabilities (3) |
209.788 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
1840.078 |
|
(b) Trade payables |
801.722 |
|
(c) Other current
liabilities |
258.814 |
|
(d) Short-term provisions |
111.893 |
|
Total Current Liabilities (4) |
3012.507 |
|
|
|
|
TOTAL |
4417.450 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
810.676 |
|
(b) Non-current Investments |
0.070 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
4.746 |
|
(e) Other Non-current assets |
43.336 |
|
Total Non-Current Assets |
858.828 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
1894.197 |
|
(c) Trade receivables |
1496.113 |
|
(d) Cash and cash
equivalents |
111.982 |
|
(e) Short-term loans and
advances |
56.330 |
|
(f) Other current assets |
0.000 |
|
Total Current Assets |
3558.622 |
|
|
|
|
TOTAL |
4417.450 |
NOTES :
1) The above Financial Results were reviewed by the Audit Committee and approved by the Board of Directors at their Meeting held on 14.11.2013
2) There were no Complaints pending from i8nvestors at the beginning and at the end of the quarter ended 30th September, 2013
3) Previous period figures have been regrouped to confirm to the Current period classification and revised Schedule VI of the Companies Act, 1956.
FIXED ASSETS:
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipments
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered
forfeited for violation of money laundering or international anti-terrorism
laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other official
proceeding for making any prohibited payments or other improper payments to
government officials for engaging in prohibited transactions or with designated
parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.