MIRA
INFORM REPORT
|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DECO MICA LIMITED |
|
|
|
|
Registered
Office : |
306, 3rd Floor, Iscon Mall, |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
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Date of
Incorporation : |
07.06.1988 |
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|
|
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Com. Reg. No.: |
04-010807 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 42.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L20299GJ1988PLC010807 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMD00980A |
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|
|
PAN No.: [Permanent Account No.] |
AAACD8652J |
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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
: |
Manufacturer of Decorative Laminated Sheet. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 350000 |
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|
|
|
Status : |
Satisfactory |
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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 satisfactory track record. The rating reflects DML’s sound financial risk profile marked by established
track record in manufacturing paper – based decorative laminates and fair
profitability levels of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered
for business dealings at usual trade terms and condition. Note : company is not
traded on BSE in last 30 days. |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
N E W S
The economy grew 4.7 %in 2013/14, marking a second
straight year of sub-5 % growth – the worst slowdown in more than a quarter of
a century. The data was below an official estimate of 4.9 % annual growth and
compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before.A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB+ |
|
Rating Explanation |
Indequate degree of safety and moderate credit risk |
|
Date |
27.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 + |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
27.02.2014 |
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
Management Non – Co – Operative (079-32988875)
LOCATIONS
|
Registered Office : |
306, 3rd Floor, Iscon Mall, Star Bazar Building, Jodhpur
Char Rasta, Satellite, Ahmedabad-380015, Gujarat, India |
|
Tel. No.: |
91-79-26763691 / 32988875 / 26730412 / 32988875 |
|
Mobile No.: |
91-9327924089 (Mr. Rajesh Shah) |
|
Fax No.: |
91-79-40028458 |
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E-Mail : |
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Location : |
Owned |
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|
|
|
Factory : |
Plot No. 1195, Village Rajpur, Chhatral, Mehsana Highway, District
Mehsana Taluka Kadi, Gujarat |
|
Tel. No.: |
91-2764-278501 / 278334 |
|
|
|
|
Factory 2 : |
34, Omkar House, C G Road, Navarangpura, Ahmedabad – 380009, Gujarat,
India |
|
Tel. No.: |
91-79-26763691 |
|
Fax No.: |
91-79-40028458 |
|
E-Mail : |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr. Vijay Kumar Agarwal |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Vishal V. Agarwal |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Udaybhan V. Tripathi |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Harishbhai Joshi |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.03.2014
|
Category of
Shareholder |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2941900 |
70.05 |
|
|
2941900 |
70.05 |
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|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
2941900 |
70.05 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
27100 |
0.65 |
|
|
27100 |
0.65 |
|
|
|
|
|
|
218600 |
5.20 |
|
|
|
|
|
|
661100 |
15.74 |
|
|
351300 |
8.36 |
|
|
1231000 |
29.31 |
|
Total shareholding of Promoter and Promoter Group (A) |
2941900 |
70.05 |
|
Total Public shareholding (B) |
1258100 |
29.95 |
|
Total (A)+(B) |
4200000 |
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) |
4200000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Decorative Laminated Sheet. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Decorative Laminated Sheets |
In Pcs |
-- |
10.20 Lacs
Sheets |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Not available |
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Bankers : |
State Bank of India, Ahmedabad, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
J.T. Shah and Company Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
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Related Parties : |
·
Heritage
Board Limited, Gandhidham ·
Salasar
Laminates Limited, Chhatral ·
V.K.A. Finance and Investment Company ·
Multi Shaper Private Limited ·
Tanish Industries ·
Par Export ·
Durolam Limited ·
V K Foundation |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4200000 |
Equity Shares |
Rs.10/- each |
Rs. 42.000
Millions |
|
|
|
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|
The company has only one class of shares referred to as Equity shares having face value of Rs. 10/- Each Holder of equity share is entitled to 1 vote per share.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently, the distribution will be in proportion to the number of equity shares held by the shareholder.
Reconciliation of the number of shares outstanding and the amount of share capital as at 31.03.2013 and 31.03.2012 is set out below.
|
Particulars |
31.03.2013 |
|
|
|
No. of Shares |
Rs. In millions |
|
Shares at the beginning |
4200000 |
42.000 |
|
Addition |
0.000 |
0.000 |
|
Deletion |
0.000 |
0.000 |
|
Shares at the
end |
4200000 |
42.000 |
The details of shareholders holding more than 5% shares are set
out below.
|
Name of
Shareholder |
31.03.2013 |
|
|
|
No. of Shares |
% held |
|
Mr. Vijay Agarwal |
1576100 |
37.53% |
|
Mrs. Santoshdevi Agarwal |
237000 |
5.64% |
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 |
42.000 |
42.000 |
42.000 |
|
(b) Reserves & Surplus |
44.889 |
34.286 |
23.786 |
|
(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) |
86.889 |
76.286 |
65.786 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
9.693 |
0.793 |
1.054 |
|
(b) Deferred tax liabilities (Net) |
5.292 |
3.985 |
4.266 |
|
(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) |
14.985 |
4.778 |
5.320 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
44.469 |
39.032 |
34.871 |
|
(b)
Trade payables |
90.804 |
56.397 |
56.431 |
|
(c)
Other current liabilities |
17.615 |
11.483 |
10.944 |
|
(d) Short-term
provisions |
2.703 |
5.315 |
4.162 |
|
Total Current
Liabilities (4) |
155.591 |
112.227 |
106.408 |
|
|
|
|
|
|
TOTAL |
257.465 |
193.291 |
177.514 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
56.732 |
33.373 |
29.527 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
3.905 |
3.065 |
3.279 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
60.644 |
36.445 |
32.813 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
58.778 |
32.635 |
26.193 |
|
(c) Trade
receivables |
129.010 |
111.414 |
110.528 |
|
(d) Cash
and cash equivalents |
4.699 |
5.790 |
2.890 |
|
(e)
Short-term loans and advances |
4.334 |
7.007 |
5.090 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
196.821 |
156.846 |
144.701 |
|
|
|
|
|
|
TOTAL |
257.465 |
193.291 |
177.514 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
345.732 |
255.067 |
250.159 |
|
|
|
Other Income |
1.012 |
2.268 |
0.154 |
|
|
|
TOTAL (A) |
346.744 |
257.335 |
250.313 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
267.964 |
177.889 |
170.509 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(10.555) |
(3.233) |
4.752 |
|
|
|
Employees benefits expense |
15.876 |
16.621 |
15.724 |
|
|
|
Other expenses |
46.863 |
39.143 |
35.227 |
|
|
|
Prior Period Expenses |
0.000 |
1.992 |
0.000 |
|
|
|
TOTAL (B) |
320.148 |
232.412 |
226.212 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.596 |
24.923 |
24.101 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
6.496 |
6.357 |
5.568 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
20.100 |
18.566 |
18.533 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.331 |
2.738 |
2.334 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.769 |
15.828 |
16.199 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.167 |
5.328 |
5.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
10.602 |
10.500 |
10.664 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
68.147 |
35.963 |
19.378 |
|
|
|
Capital Goods |
4.187 |
1.811 |
2.800 |
|
|
TOTAL IMPORTS |
72.334 |
37.774 |
22.178 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.52 |
2.50 |
2.54 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
June 2013 |
September 2013 |
December 2013 |
March 2014 |
|
|
Quarter 1 |
Quarter 2 |
Quarter 3 |
Quarter 4 |
|
|
|
|
|
|
|
Net Sales |
104.300 |
109.700 |
110.900 |
111.400 |
|
Total Expenditure |
96.200 |
103.000 |
101.100 |
106.200 |
|
PBIDT (Excl OI) |
8.100 |
6.700 |
9.800 |
5.200 |
|
Other Income |
0.300 |
0.100 |
0.000 |
0.700 |
|
Operating Profit |
8.400 |
6.800 |
9.800 |
5.900 |
|
Interest |
2.100 |
1.900 |
2.800 |
2.300 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
6.300 |
4.900 |
7.000 |
3.700 |
|
Depreciation |
1.000 |
1.000 |
1.100 |
1.100 |
|
Profit Before Tax |
5.300 |
3.900 |
6.000 |
2.600 |
|
Tax |
1.900 |
1.500 |
2.700 |
0.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
3.400 |
2.400 |
3.200 |
2.400 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
3.400 |
2.400 |
3.200 |
2.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.06 |
4.08 |
4.26 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.85 |
6.21 |
6.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.51 |
8.19 |
9.13 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62 |
0.52 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.26 |
1.40 |
1.36 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
42.000 |
42.000 |
42.000 |
|
Reserves & Surplus |
23.786 |
34.286 |
44.889 |
|
Net worth |
65.786 |
76.286 |
86.889 |
|
|
|
|
|
|
long-term borrowings |
1.054 |
0.793 |
9.693 |
|
Short term borrowings |
34.871 |
39.032 |
44.469 |
|
Total borrowings |
35.925 |
39.825 |
54.162 |
|
Debt/Equity ratio |
0.546 |
0.522 |
0.623 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
250.159 |
255.067 |
345.732 |
|
|
|
1.962 |
35.546 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
250.159 |
255.067 |
345.732 |
|
Profit |
10.664 |
10.500 |
10.602 |
|
|
4.26% |
4.12% |
3.07% |
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 |
No |
|
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 |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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, the
company's net sales increase to Rs.345.732 millions as compared to Rs.255.067
millions during the previous year showing the growth of over 35.55% compared to
previous year. The margins of the company were under pressure due to increase
in the cost of imported papers and chemicals. The company could not pass on the
increased cost to the customer in the recessionary conditions prevailing in the
market. This has adversely affected the profitability of the company.
UNSECURED LOAN
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
|
(Rs. In Millions) |
|
|
SHORT TERM
BORROWINGS: |
|
|
|
Buyers Credit |
13.045 |
8.855 |
|
Loan From Relatives |
21.810 |
19.857 |
|
Total |
34.855 |
28.712 |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED 31ST December, 2013
(Rs. In Millions)
|
Sr. No. |
Particulars |
Quarter ended |
Year ended |
|
|
|
|
31.12.2013 |
31.09.2013 |
31.03.2013 |
|
|
|
Unaudited |
Unaudited |
Unaudited |
|
|
PART I |
|
|
|
|
1 |
(a) Net Sales/Income from Operations (Net of excise duty) |
110.200 |
108.888 |
3322.902 |
|
|
(b) Other Operating Income |
0.681 |
0.832 |
2.006 |
|
|
Total Income from operations (a+b) |
110.881 |
109.720 |
324.908 |
|
2 |
Expenses |
|
|
|
|
a |
Cost of materials consumed |
83.302 |
84.429 |
251.490 |
|
b |
Purchase of Stock-in-trade |
0.000 |
1.100 |
1.100 |
|
c |
Changes in Inventories of finished goods, Work-in-progress and Stock-in-Trade |
1.218 |
(0.666) |
(4.673) |
|
d |
Employee Benefit expenses |
4.871 |
4.920 |
14.119 |
|
e |
Depreciation and amortization expenses |
1.066 |
1.024 |
3.091 |
|
f |
Other Expenses |
11.669 |
13.240 |
38.252 |
|
|
Total Expenses (a to f) |
102.126 |
104.047 |
303.379 |
|
3 |
Profit from Operations before Other Income, finance costs and Exceptional Items (1-2) |
8.755 |
5.673 |
21.529 |
|
4 |
Other Income |
(0.021) |
0.100 |
0.359 |
|
5 |
Profit/(Loss) from ordinary activities before finance costs and Exceptional Items (3 + 4) |
8.734 |
5.773 |
21.888 |
|
6 |
Finance costs |
2.783 |
1.859 |
6.749 |
|
7 |
Profit/(Loss) from ordinary activities after finance costs before Exceptional Items (5 - 6) |
5.951 |
3.914 |
15.139 |
|
8 |
Exceptional Items |
(0.002) |
0.001 |
0.00 |
|
9 |
Profit/(Loss) from ordinary activities before tax (7 + 8) |
5.949 |
3.914 |
15.139 |
|
10 |
Provision for Taxation (Including Deferred Tax and Taxes for Earlier Years etc.) |
2.705 |
1.469 |
6.020 |
|
11 |
Net Profit/(Loss) for the period (9-10) |
3.244 |
2.445 |
9.119 |
|
12 |
Paid-up equity share capital (Face Value Rs.10/- per share) |
42.000 |
42.000 |
42.000 |
|
13 |
Reserve excluding Revaluation Reserves as per balance sheet |
54.008 |
50.764 |
54.008 |
|
14 |
Earnings Per Share (EPS) |
0.77 |
0.58 |
2.17 |
|
|
|
|
|
|
|
|
PART -II |
|
|
|
|
A |
Particulars of Share holding |
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
- Number of shares |
1258400 |
1268400 |
1258400 |
|
|
- Percentage of shareholding |
29.96 |
30.20 |
29.96 |
|
|
Promoters and Promoter Group Shareholding |
|
|
|
|
|
- Number of shares |
2941600 |
2931600 |
2941600 |
|
|
- Percentage of shareholding |
70.04 |
69.80 |
70.04 |
|
2 |
Promoters and Promoter Group Shareholding |
|
|
|
|
a |
Pledged / Encumbered |
|
|
|
|
|
- Number of shares |
Nil |
Nil |
Nil |
|
|
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
Nil |
Nil |
Nil |
|
b |
Non - encumbered |
|
|
|
|
|
- Number of shares |
2941600 |
2931600 |
2941600 |
|
|
- Percentage of shares (as a % of the total shareholding of the Promoter and Promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
70.04 |
69.80 |
70.04 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10404374 |
12/02/2013 |
10,300,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B68605278 |
|
2 |
80051026 |
18/01/2014 * |
98,200,000.00 |
State Bank of India |
LAGHU UDHYOG
BRANCH, OPP. GANDHGRAM RAILWAY STATI |
B95702585 |
FIXED ASSETS:
·
Land
·
Factory Buildings
·
Plant and Machinery
·
Office Equipment
·
Furniture and Fixtures
·
Vehicles
·
Computers
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 judgment 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.59.87 |
|
UK Pound |
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.