MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

ROLEX LANOLIN PRODUCTS LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMR14573G

 

 

PAN No.:

[Permanent Account No.]

AAACR3499P

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

No. of Employees :

50 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of lanolin anhydrous, lanolin derivatives, oils and fats, cosmetic raw materials.

 

 

Exports :

 

Products :

·         Finished Goods

Countries :

·         Sri Lanka

·         Pakistan

 

 

Terms :

 

Selling :

L/C and Credit

 

 

Purchasing :

L/C and Credit 

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

·         Union Bank of India, Princess Street Branch, Devkaran Mansion, Shamaldas Gandhi Marg, Princess Street, Mumbai – 400 002, Maharashtra, India

·         Citibank

 

 

Facilities :

Secured Loans

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

Term Loan from Bank

0.000

1.167

SHORT TERM BORROWINGS 

 

 

Working Capital Loan from Banks

34.507

4.637

Total

34.507

5.804

 

 

Unsecured Loans

31.03.2013

(Rs. in Millions)

31.03.2012

(Rs. in Millions)

LONG TERM BORROWINGS

 

 

From Others

5.537

5.924

Total

5.537

5.924

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Vora and Associates

Chartered Accountants

Address :

103, Rewa Chambers, 31, New Marine Lines, Mumbai – 400 020, Maharashtra, India 

Tel. No.:

91-22-22005934/ 22031110

Fax No.:

91-22-22063289

PAN No.:

AACFV6555H

 

 

Subsidiaries :

Euro Polythene Private Limited

 

 

Enterprises owned or significantly influenced by key management personnel or their relatives :

Consolidated Solvents and Chemical Corporation

 

 

 

MAJOR SHAREHOLDERS

 

AS ON 15.07.2013

 

Names of Shareholders

 

No. of Shares

Hansa Hasmujh Zaveri

25940

Hasit Hasmujh Zaveri

25940

Hasmukh Nathalal Zaveri

20839

Falguni Hasit Zaveri

17281

Total

90000

 

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

0.900

0.900

0.900

(b) Reserves & Surplus

31.879

22.528

16.631

(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)

32.779

23.428

17.531

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) Long-term borrowings

5.537

7.091

4.030

(b) Deferred tax liabilities (Net)

0.913

0.975

0.981

(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)

6.450

8.066

5.011

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

34.507

4.637

22.239

(b) Trade payables

10.622

5.988

5.299

(c) Other current liabilities

3.022

4.211

4.276

(d) Short-term provisions

0.931

1.235

0.159

Total Current Liabilities (4)

49.082

16.071

31.973

 

 

 

 

TOTAL

88.311

47.565

54.515

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

10.635

11.758

11.055

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

7.431

3.057

3.056

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

5.100

5.100

5.100

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

4.201

4.472

1.739

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

27.367

24.387

20.950

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

29.739

5.274

12.108

(c) Trade receivables

25.328

14.611

13.508

(d) Cash and cash equivalents

2.019

2.226

6.608

(e) Short-term loans and advances

3.858

1.067

1.341

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

60.944

23.178

33.565

 

 

 

 

TOTAL

88.311

47.565

54.515

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from operations

261.888

148.774

131.376

 

 

Other Income

0.154

0.171

0.413

 

 

TOTAL                                     (A)

262.042

148.945

131.789

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

174.019

75.243

90.753

 

 

Purchase of traded goods

38.019

22.396

17.137

 

 

Changes in inventories of finished goods, work-in-progress and traded goods

(12.731)

5.175

(6.250)

 

 

Employee benefits expense

13.308

12.374

7.025

 

 

Other expenses

30.719

20.042

16.614

 

 

TOTAL                                     (B)

243.334

135.230

125.279

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

18.708

13.715

6.510

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

3.303

3.907

3.466

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                               (E)

15.405

9.808

3.044

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

1.327

1.242

1.254

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)                 (G)

14.078

8.566

1.790

 

 

 

 

 

Less

TAX                                                                  (H)

4.727

2.669

0.543

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

9.351

5.897

1.247

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

20.785

14.888

13.641

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

30.136

20.785

14.888

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB value of exports

40.247

30.191

21.402

 

 

Income from sale of services

0.000

0.546

0.000

 

TOTAL EARNINGS

40.247

30.737

21.402

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Material

46.479

9.729

31.400

 

 

Traded Finished Goods

31.983

17.276

14.136

 

TOTAL IMPORTS

78.462

27.005

45.536

 

 

 

 

 

 

Earnings Per Share (Rs.)

103.90

65.53

13.86

 

 

Particulars

 

31.03.2014

Sales Turnover (Approximately)

240.000

(Due to competition in the market)

 

 

 

The above information has been parted by Mr. Punit (Accounts Executive).

 

 

OPERATIONS:

 

The Sales and Operating Income during the year has increased from Rs.148.800 millions to Rs.261.900 millions during the year. The Net profit before taxes is Rs.14.078 millions (P.Y.Rs.8.566 millions).

 

The increase in net profits during the year was due to higher sales realization. A continuous availability of raw material would be a challenge in the years to come which would determine the business prospects of the company in the years to come. The progress of setting up new plant at Vapi is as per schedule.

 

Euro Polythene Private Limited, a 100% subsidiary is in the process of merger with the company in due course. The same is expected to take place during F.Y. 2013-14

 

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

LOCATIONS

 

Registered/ Corporate/ Head Office :

‘Rolex House’, Level 1, 114 Tejpal Industrial Estate, Andheri-Kurla Road, Sakinaka, Andheri (East), Mumbai – 400 072, Maharashtra, India

Tel. No.:

91-22-28512345/ 22012345

Fax No.:

91-22-28517777

E-Mail :

info@rolexlanolin.com   

hasit@rolexlanolin.com

Website :

http://www.rolexlanolin.com

Location :

Owned

Locality :

Commercial

 

 

City Liason Office :

52/58, Babu Genu Road, Level 1, 24-26, Jivraj Shamji Building, Off Princess Street, Mumbai – 400 072, Maharashtra, India

Tel. No.:

91-22-22012345

Fax No.:

91-22-22015950

 

 

Factory 1 :

Unit No.14, Ground Floor, New Tejpal Industrial Premises Co-Operative Society Limited, Sakinaka, Andheri Kurla Road, Andheri (East), Opposite Sagar-Tech Plaza, Mumbai – 400 072, Maharashtra, India

 

 

Factory 2 :

Plot No.6309, Phase IV, G.I.D.C., Near Pump House, Phase III, Vapi,
Gujarat, India

 

 

Warehouses :

Located at:

 

·         Antop Hill

·         Sewree

·         Bhiwandi

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.