1. Summary Information
|
|
|
Country |
|
|
Company Name |
SALORA
INTERNATIONAL LIMITED |
Principal Name 1 |
Mr. Gopal Sitaram Jiwarajka |
|
Status |
Moderate |
Principal Name 2 |
Mr. Gautam Khaitan |
|
|
|
Registration # |
55-004962 |
|
Street Address |
D – 13/4, Okhla Industrial Area Phase ll, New Delhi 110020, Delhi
India |
||
|
Established Date |
20.11.1968 |
SIC Code |
-- |
|
Telephone# |
91-11-49207100 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Distributors |
|
Homepage |
Product Name 1 |
Colour TV |
|
|
# of employees |
Not Available |
Product Name 2 |
FBT/DY |
|
Paid up capital |
Rs.88,145,000/- |
Product Name 3 |
Mobile Phone |
|
Shareholders |
Shareholding Of Promoter And Promoter Group - 66.72% Public shareholding –
33.28% |
Banking |
State Bank of |
|
Public Limited Corp. |
No |
Business Period |
46 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (34) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
|
-- |
|
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2014 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,087,473,000 |
Current Liabilities |
224,925,000 |
|
Inventories |
386,723,000 |
Long-term Liabilities |
439,654,000 |
|
Fixed Assets |
328,955,000 |
Other Liabilities |
31,897,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
696,476,000 |
|
Invest& other Assets |
35,241,000 |
Retained Earnings |
1,053,771,000 |
|
|
|
Net Worth |
1,141,916,000 |
|
Total Assets |
1,838,392,000 |
Total Liab. & Equity |
1,838,392,000 |
|
Total Assets (Previous Year) |
2,001,437.000 |
|
|
|
P/L Statement as of |
31.03.2014 |
(Unit: Indian Rs.) |
|
|
Sales |
3,956,335,000 |
Net Profit / (Loss) |
15,200,000 |
|
Sales(Previous yr) |
3,699,610,000 |
Net Profit(Prev.yr) |
24,875,000 |
MIRA
INFORM REPORT
|
Report Date : |
21.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SALORA INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
D – 13/4, Okhla Industrial Area Phase ll, New Delhi 110020, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.11.1968 |
|
|
|
|
Com. Reg. No.: |
55-004962 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 88.145 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L7499DL1968PLC004962 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELS08465C |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Distribution of televisions and
loudspeakers, FBT and deflection yoke; marketing of telephones, fax machines,
printer, monitors and other IT products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability of the company is low. Rating also takes into
consideration intensely competitive nature of the industry in which the
company operates However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 wih 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 |
ICRA |
|
Rating |
Found based limits = BB+ |
|
Rating Explanation |
Inadequate Credit quality and high credit risk |
|
Date |
August 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non found based limits = A4+ |
|
Rating Explanation |
Minimal Degree of safety and very high credit risk |
|
Date |
August 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
31-03-2014.
INFORMATION DENIED
Management non co-operative (91-11-49207100)
LOCATIONS
|
Registered / Corporate Office : |
D – 13/4, Okhla Industrial Area Phase ll, New Delhi 110020, Delhi,
India |
|
|
|
Tel. No.: |
91-11-49207100 |
|
|
|
Mobile No.: |
Not Available |
|
|
|
Fax No.: |
Not Available |
|
|
|
E-Mail : |
|
||
|
Website : |
|
||
|
|
|
|
|
|
Manufacturing Plants : |
Plot No. B-31-34 and 50-53, Sector – 80, Noida, |
||
|
Branch Office : |
Located At · Central Ware House · Delhi · Noida · Gurgoan · Punjab · Parwanoo · Chandigarh · Jaipur · Dehradun · Jammu · Kolkata · Patna · Ranchi · Mumbai · Goa · Pune · Nagpur · Raipur · Indore · Ahmedabad · Secundrabad · Banglore · Chennai · Kerala |
||
DIRECTORS
|
Name : |
Mr. Gopal Sitaram Jiwarajka |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Gautam Khaitan |
|
|
|
|
Name : |
Mr. P. N. Mehta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sanjeev Kaul Duggal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Patanjali Govind Keswani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Tarun Jiwarajka |
|
Designation : |
Whole Time Director |
KEY EXECUTIVES
|
Name : |
Mr. Surinder Sood |
|
Designation : |
Chief Finance Officer |
|
|
|
|
Name : |
Ms. Princy Anand |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as
a % of Total No. of Shares |
|
|
|
As a % of (A+B) |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
5317337 |
60.37 |
|
|
558929 |
6.35 |
|
|
5876266 |
66.72 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
5876266 |
66.72 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
400 |
0.00 |
|
|
100 |
0.00 |
|
|
200 |
0.00 |
|
|
700 |
0.01 |
|
|
|
|
|
|
1005792 |
11.42 |
|
|
|
|
|
|
1277089 |
14.50 |
|
|
498137 |
5.66 |
|
|
149316 |
1.70 |
|
|
175 |
0.00 |
|
|
2300 |
0.03 |
|
|
82948 |
0.94 |
|
|
7507 |
0.09 |
|
|
56386 |
0.64 |
|
|
2930334 |
33.27 |
|
Total Public shareholding (B) |
2931034 |
33.28 |
|
Total (A)+(B) |
8807300 |
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) |
8807300 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Distribution of televisions and loudspeakers,
FBT and deflection yoke; marketing of telephones, fax machines, printer,
monitors and other IT products. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Installed
Capacity* |
Actual
Production |
|
TV Sets and Sub Assemblies thereof |
Nos. |
300000 |
159414 |
|
Electronic Components |
Nos. |
13600000 |
4466706 |
Note : *The installed
capacity is as certified by the management and not verified by the auditors,
being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
Details of
security for secured Loans a Vehicle Loans are secured against
hypothecation of cars. b Terms of repayment of term loans and other i) Vechile Loans from Banks and Others on monthly instalment basis. ii) Unsecured Loans from related parties repayble on demand. c There is no continuing default as on the balance sheet date in respect of loans and interest Additional
Information: 1. Working Capital Loans are
secured by hypothecation of inventories & receivables and first
pari-passu charge with PICUP on immovable properties of Noida units as collateral
security. 2. Buyers Credit loan from bank
are secured against FDRS. |
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
K. Prasan and Company Chatered Accountant |
|
|
|
|
Subsidiaries : |
|
|
Associates and Joint venture |
|
|
Others related parties in which key managerial personal are able to
exercise significant influence |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : NA
Issued, Subscribed & Paid-up Capital : Rs. 88.145 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs. 10/- each |
Rs.200.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, and Subscribed
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8820000 |
Equity Shares |
Rs. 10/-each |
Rs. 88.200
Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8807300 |
Equity Shares |
Rs. 10/-
each |
Rs. 88.073
Millions |
|
12700 |
Add : Shares Capital forfeited Equity Shares |
Rs. 5.65/-
each |
Rs. 0.072
Million |
|
|
Total |
|
Rs.88.145 Millions |
Note : Number of Shares at the beginning and close
of the year are same
|
Details of Shareholders holding more than 5% Shares |
No. of Shares |
Percentage |
|
Gopal Sitaram Jiwarajka |
2029117 |
23.04 |
|
Gopal Sitaram Jiwarajka |
1498988 |
17.02 |
|
Neetu Jaiwarajka |
731410 |
8.30 |
|
Manori Properties |
558929 |
6.35 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF+B3:E43 FUNDS |
|
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
88.145 |
88.145 |
|
(b) Reserves &
Surplus |
|
1053.771 |
1038.571 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
1141.916 |
1126.716 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
48.111 |
86.924 |
|
(b) Deferred tax
liabilities (Net) |
|
(17.990) |
(6.954) |
|
(c) Other long term
liabilities |
|
21.064 |
19.560 |
|
(d) long-term provisions |
|
1.891 |
1.711 |
|
Total Non-current
Liabilities (3) |
|
53.076 |
101.241 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
391.543 |
326.786 |
|
(b) Trade payables |
|
213.571 |
372.209 |
|
(c) Other current
liabilities |
|
29.344 |
65.229 |
|
(d) Short-term provisions |
|
8.942 |
9.256 |
|
Total Current Liabilities
(4) |
|
643.400 |
773.480 |
|
|
|
|
|
|
TOTAL |
|
1838.392 |
2001.437 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
328.955 |
345.676 |
|
(ii) Intangible Assets |
|
0.000 |
4.909 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets
under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
35.241 |
77.681 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
84.225 |
97.326 |
|
(e) Other Non-current
assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
448.421 |
525.592 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
386.723 |
379.806 |
|
(c) Trade receivables |
|
725.891 |
767.375 |
|
(d) Cash and cash
equivalents |
|
24.652 |
16.780 |
|
(e) Short-term loans and
advances |
|
236.007 |
293.094 |
|
(f) Other current assets |
|
16.698 |
18.790 |
|
Total Current Assets |
|
1389.971 |
1475.845 |
|
|
|
|
|
|
TOTAL |
|
1838.392 |
2001.437 |
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
88.145 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1013.696 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1101.841 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
466.48 |
|
|
2] Unsecured Loans |
|
|
70.300 |
|
|
TOTAL BORROWING |
|
|
536.780 |
|
|
DEFERRED TAX LIABILITIES |
|
|
9.324 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1647.945 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
378.566 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
81.742 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
450.753
|
|
|
Sundry Debtors |
|
|
980.560
|
|
|
Cash & Bank Balances |
|
|
59.802
|
|
|
Other Current Assets |
|
|
20.861
|
|
|
Loans & Advances |
|
|
366.555
|
|
Total
Current Assets |
|
|
1878.531
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
612.272
|
|
|
Other Current Liabilities |
|
|
63.666
|
|
|
Provisions |
|
|
14.956
|
|
Total
Current Liabilities |
|
|
690.894
|
|
|
Net Current Assets |
|
|
1187.637
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1647.945 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.3.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3956.335 |
3699.610 |
4119.897 |
|
|
|
Other Income |
46.122 |
18.950 |
15.420 |
|
|
|
TOTAL (A) |
4002.457 |
3718.560 |
4135.317 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Consumed and Purchase of Goods |
215.436 |
179.952 |
156.773 |
|
|
|
Purchase of Stock in Trade |
3440.402 |
3073.031 |
3558.967 |
|
|
|
Changes in Inventories of Finished Goods, Work in Progress and Stock in Trade |
(7.624) |
60.480 |
81.408 |
|
|
|
Employee Benefits Expense |
88.886 |
104.954 |
135.057 |
|
|
|
Exceptional Items |
|
0.000 |
13.079 |
|
|
|
Manufacturing & Other Expenses |
152.541 |
175.346 |
163.885 |
|
|
|
TOTAL (B) |
3889.641 |
3593.763 |
4109.169 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
112.816 |
124.797 |
26.148 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
67.901 |
78.986 |
96.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.915 |
45.811 |
(70.301) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.226 |
37.214 |
36.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
9.689 |
8.597 |
(106.326) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(5.511) |
(16.278) |
(27.263) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
15.200 |
24.875 |
(79.063) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(9.511) |
(34.386) |
44.677 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
5.689 |
(9.511) |
(34.386) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
|
1374.021 |
1435.822 |
|
|
|
|
|
374.560 |
419.080 |
|
|
|
Service charges including Service Tax |
|
16.057 |
23.325 |
|
|
|
Reimbursement of component under warranty
service |
|
0.000 |
24.079 |
|
|
TOTAL EARNINGS |
NA |
1764.638 |
1902.306 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
49.747 |
69.771 |
|
|
|
Trading Goods- Direct Purchase |
|
63.231 |
152.531 |
|
|
|
Trading |
|
381.381 |
419.939 |
|
|
|
Spares |
|
0.000 |
0.168 |
|
|
|
Capital Goods |
|
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
494.359 |
642.409 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.73 |
2.82 |
(8.98) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
0.38 |
0.67 |
(1.91) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.24 |
0.23 |
(2.58) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.54 |
0.45 |
(4.71) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.01 |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.39 |
0.37 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.16 |
1.91 |
1.54 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
88.145 |
88.145 |
|
Reserves & Surplus |
1038.571 |
1053.771 |
|
Net worth |
1126.716 |
1141.916 |
|
|
|
|
|
long-term borrowings |
86.924 |
48.111 |
|
Short term borrowings |
326.786 |
391.543 |
|
Total borrowings |
413.710 |
439.654 |
|
Debt/Equity ratio |
0.367 |
0.385 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
4119.897 |
3699.610 |
3956.335 |
|
|
|
(10.201) |
6.939 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
4119.897 |
3699.610 |
3956.335 |
|
Profit |
(79.063) |
24.875 |
15.200 |
|
|
(1.92%) |
0.67% |
0.38% |
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 |
Yes |
|
10] |
Designation
of contact person |
Yes |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
--------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
No |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
No |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
---------------------- |
|
22] |
Litigations
that the firm / promoter involved in |
Yes |
|
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 |
|
LETIGATION
DETAILS: IN
THE HIGH COURT OF DELHI AT NEW DELHI ITA
173/2008 COMMISSIONER
OF INCOME TAX…. Appellant Through
Mrs. P.L. Bansal, Adv. Versus SALORA
INTERNATIONAL LITD…. Respondent Through CORAM: HON’BLE
MR. JUSTICE MADAN B. LOKUR HON’BLE
MR. JUSTIC V.B. GUPTA O
R D E R 11.03.2008 Issue
notice to the Assessee, returnable on 18th august, 2008. MADAN
B. LOKUR, J V.B.
GUPTA,J MARCH
11,2008 vk |
Salora launches
Zapper3G-14.4 mbps USB Dongle
Just Plug &
“Let the 3G magic Play”
New Delhi: Salora International Limited, a trusted brand in Indian Consumer Electronics Industry, launches Zapper3G-SIL 300B, high- speed 3G USB Dongle with a downloading speed up to 14.4Mbps at Rs. 1,599 only.
The newly launched Plug & Play 3G dongle provides network / operator flexibility by supporting any operator’s
SIM Card and Micro SD card with an expandable memory up to 32 GB. The device supports Voice Calls, SMS features and Video Calls through third party applications like Skype etc.
The dongle supports all major operating Systems like Microsoft Windows XP/Vista/7/8, Mac OSX (10.5-10.9),
Linux Ubuntu12.04 LTS (Data Service Only) and is available in colors- Black and White with a warranty of 1 year.
“The launch of Zapper 14.4 Mbps is opportune to meet the demand of our customers seeking high- speed mobile data offering faster and seamless internet connectivity,” said Mr. Gopal Jiwarajka, Chairman & Managing Director of Salora International Limited.
Salora’s Zapper 3G-SIL300B offers two latest Internet Security Packages i.e. - AVG Internet Security 2014 (for 1 month) & Kaspersky Internet Security 2014 (for 3 months) for free and various other offers & discounts on up gradation of these software to the paid version.
Commenting on the launch, Mr. Jagannath Patnaik Director Channel Sales, Kaspersky Lab, South Asia, said, “We are happy to announce our new strategic partnership with Salora to offer complimentary access to superior Internet security solutions that will help secure customers from all types of IT threats.
” Mr. Amit Goel, Business Head – ICT, AVG India, said, “The strategic move to associate with Salora International Ltd. has been made in order to secure customers from rising cyber threats by offering our premium Internet Security Solutions with Salora’s new Zapper 14.4 Mbps 3G dongle.”
Zapper3G-SIL300B is
available all across India through different sales networks including
Online and is backed
by Salora’s own pan India service network “SILCARE”.
About Salora
International Limited
Salora International Limited (SIL) is a leading player in the Indian consumer electronics industry and caters to both the B2B and retail space. With a track record of over 36 years in manufacturing and distribution, SIL became a public listed company in 1993. SIL is a listed entity on both the Bombay Stock Exchange and National Stock Exchange. Headquartered in New Delhi, SIL has a pan-India presence through 26 branch offices and 170 after-sales service centers in 127 cities named as ‘SILCARE’, also provides doorstep service to meet the customers’ expectations in consumer electronics.
For more
information, please contact:
Fourth Estate
Ms. Rituparna Madhukalya
Ms. Tanya Manocha
Email: rituparna@fourthestateindia.com Email: tanya.manocha@fourthestateindia.com
Mob: 08826639144
Mob: 09654603076
UNSECURED LOANS:
|
Particular |
31.03.2014 |
31.03.2013 (Rs. in Millions) |
|
Long Term Borrowing |
|
|
|
Loans and
advances from related parties |
|
|
|
From Subsidiary
comp[any |
NA |
5.400 |
|
From Related
Company |
NA |
79.500 |
|
|
|
|
|
Total |
NA |
84.900 |
FIXED ASSETS:
- Building
- Furniture and
Fixtures
- Plant and
Machinery
- Dies and
Moulds
- Motor
Vehicles
- Office
Equipment
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. 60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs. 81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.