MIRA
INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAGREEKA EXPORTS LIMITED |
|
|
|
|
Registered
Office : |
18, R.N. Mukherjee Road, 6th Floor, Kolkata – 700001, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
06.03.1989 |
|
|
|
|
Com. Reg. No.: |
21-046387 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.62.550 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L1810WB1989PLC046387 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
CALN02503E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN9999A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and export of cotton yarn, knitted fabrics, cotton
fibre, woven fabrics and garments. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
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 3800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating is constrained on account of company’s moderate financial
risk profile marked by stretched liquidity position and thin profitability
margins of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings 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 |
CARE |
|
Rating |
Long term
facilities: BBB- |
|
Rating Explanation |
Moderate degree of
safety and moderate credit risk. |
|
Date |
25.03.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank
facilities: A3 |
|
Rating Explanation |
Moderate degree of
safety and higher credit risk. |
|
Date |
25.03.2014 |
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Nadar |
|
Designation : |
Finance Department |
|
Contact No.: |
91-22-61447500 |
|
Date : |
18.07.2014 |
LOCATIONS
|
Registered Office : |
18, |
|
Tel. No.: |
91-33-22108828 / 22484922 / 4943 |
|
Fax No.: |
91-33-22481693 |
|
E-Mail : |
vinodnagreeka.com |
|
Website : |
|
|
Location : |
Owned (Commercial) |
|
|
|
|
Corporate Office 1 : |
7, Kala Bhavan 2, |
|
Tel. No.: |
91-22-23670365 / 61447500 |
|
Fax No.: |
91-22-23612579 / 23630475 |
|
E-Mail : |
|
|
|
|
|
Corporate Office 2 : |
21-22, Kala Bhavan, 3, |
|
Tel. No.: |
91-22-23625977 / 61447500 / 23618873 |
|
|
|
|
Factory : |
Village Yavluji, Taluka Panhala, District – |
|
|
|
|
Factory 2 : |
Plot No. T-48, MIDC, Kagal-Hatkanangale, Five Star Industrial Area,
Village : Talandage, Taluka : Hatkanangale, District : Kolhapur, Maharashtra,
India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Sushi Patwari |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
20.08.1954 |
|
Qualification : |
B. Com (H) |
|
Date of Appointment : |
06.03.1989 |
|
Other Directorship : |
ô Rupa and Company Limited ô
Reliance Processors Limited ô
Nagreeka Capital and Infrastructure Limited ô
Jaidka Motor Company Limited |
|
|
|
|
Name : |
Mr. Sunil Patwani |
|
Designation : |
Vice Chairman and Managing Director |
|
Name : |
Mr. Kailash Chandra Purohit |
|
Designation : |
Whole – time Director |
|
Date of Birth/Age : |
18.06.1932 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
30.06.2001 |
|
Name : |
Mr. Mohan Kishen Ogra |
|
Designation : |
Director |
|
Date of Birth/Age : |
15.09.1930 |
|
Qualification : |
Graduate (Maths and Stastic) |
|
Date of Appointment : |
30.06.2001 |
|
Other Directorship : |
Ż Nicco Financial Services Limited Ż
Nicco Engg. Services Limited Ż
Nicco Biotech Limited Ż
Nagreeka Capital and Infrastructure Limited |
|
Name : |
Mr. Bibhuti Charan Talukdar |
|
Designation : |
Director |
|
Name : |
Mr. Mahendra Patwari |
|
Designation : |
Whole-time Director |
|
Date of Birth/Age : |
15.03.1963 |
|
Qualification : |
B. E. from IIT |
|
Date of Appointment : |
01.07.2004 |
|
Other Directorship : |
Nagreeka Foils Limited |
|
Name : |
Mr. Rajendra Mahavirprasad Ruia |
|
Designation : |
Director |
|
Name : |
Mr. Mahabir Prasad Periwal |
|
Designation : |
Director |
|
Date of Birth/Age : |
12.08.1944 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
07.08.2008 |
|
Other Directorship : |
ô Pinoreer Protec Limited ô
Pioneer Plastic Industrial Limited ô
Sarda Housing Developments Private Limited |
KEY EXECUTIVES
|
Name : |
Mr. J. Tiwari |
|
Designation : |
Company Secretary |
|
Name : |
Mr. Nadar |
|
Designation : |
Finance Department |
SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category
of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
|
|
|
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4472300 |
35.78 |
|
|
2105186 |
16.84 |
|
|
6577486 |
52.62 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
6577486 |
52.62 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
3300 |
0.03 |
|
|
300 |
0.00 |
|
|
300 |
0.00 |
|
|
500 |
0.00 |
|
|
4400 |
0.04 |
|
|
|
|
|
|
2219154 |
17.75 |
|
|
|
|
|
|
2585992 |
20.69 |
|
|
889830 |
7.12 |
|
|
222838 |
1.78 |
|
|
213279 |
1.71 |
|
|
9559 |
0.08 |
|
|
5917814 |
47.34 |
|
Total Public
shareholding (B) |
5922214 |
47.38 |
|
Total (A)+(B) |
12499700 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
12499700 |
0.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and export of cotton yarn and other various merchandise.
|
||||||
|
|
|
||||||
|
Products : |
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
China ·
Japan ·
Bangladesh ·
Pakistan |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
· ING VYSYA Bank Limited, Overseas Branch, Mumbai Oriental Bank of Commerce, Overseas Branch, Kolkata State Bank of Patiala, Commercial Branch, Mumbai Allahabad Bank, Industrial Finance Branch, Kolkata ICICI Bank, R.N. Mukherjee Road Branch, Kolkata Canara Bank, Bandra-Kurla Complex, Mumbai, Maharashtra,
India Canara Bank, Overseas Branch, Mumbai |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
NOTES : Term loan from
bank ii) Rupee Term loan
from Canara Bank - Kolkata, Oriental Bank of Commerce – Kolkata and State
Bank of Patiala – Mumbai is secured by (a) an equitable
mortgage ranking pari passu inter-se by deposit of title deeds of all the
immovable properties of the company both present and future, relating to its
spinning unit premises at Village : Yavluj, District : Kolhapur, Maharashtra
and (b) by way of
hypothecation ranking pari passu inter-se of all movable properties of the company
both present and future including movable machineries, spares, tools &
accessories (save & except book debts) subject to prior charges created or to be created
in favour of the Company’s Bankers, on its stock of Raw Materials, finished
goods, consumable stores, book debts and such other movables as may be
specifically permitted by the institutions in writing, to secure borrowings
for working capital requirements and (c) Personal
guarantee of some of the Directors of the Company. iii) Working
Capital Term Loan from Canara Bank, Overseas Branch, Kolkata is secured by
way of : (a)
hypothecation of stock of Raw materials, Work-in-process, finished goods and
book debts relating to spinning unit at Village : Yavluj, District : (b) Second
charge on immovable properties of the company relating to above mentioned
spinning unit, and (c) Personal
guarantee of some of the Directors of the Company. iv) For the above loan a securitisation agreement entered in between
the Company, AXIS Bank Limited and the above lenders. Working capital
loans from bank i) Working
Capital Loan from Canara Bank, Overseas Branch, Kolkata and Mumbai , Oriental
Bank of Commerce, Overseas Branch, Kolkata, Allahabad Bank, Industrial
Finance Branch, Kolkata, State Bank of Patiala - Commercial Branch, Mumbai
and ICICI Bank Limited, Kolkata are secured by way of : (a) First charge
by way of hypothecation of stock of Raw materials, Work-in-process, finished
goods and book debts relating to spinning unit at Village : Yavluj, District
: Kolhapur, Maharashtra and stock-in-trade at trading unit Kolkata, both
present and future in a form and manner satisfactory to the bank, ranking
pari pasu with each other participating working capital banks. (b) Second
charge on all the fixed assets of the company, both present and future
ranking pari pasu with each other participating working capital banks. (c) Personal
guarantee of some of the Directors of the Company. ii) Previous
Year working Capital Loan includes working capital loan from ING Vysya Bank
Limited, Overseas Branch, Mumbai was secured by way of : (a)
hypothecation of stock of raw materials, work in process, Finished goods, book
debts relating to spinning unit at Village : Yavluj, District : Kolhapur,
Maharashtra and (b) second
charge on immovable Properties of the Company relating to above mentioned
spinning unit and (c) Personal guarantee of some of the Directors of the Company. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Das and Prasad Chartered Accountant |
|
Address : |
4, |
|
|
|
|
Associates/Subsidiaries : |
·
Nagreeka Capital and Infrastructure Limited ·
Nagreeka Foils Limited ·
Nagreeka Synthetics Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued Subscribed & Paid-up Capital : Rs.62.550 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.5/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12510000 |
Equity Shares |
Rs.5/- each |
Rs.62.550
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12499700 |
Equity Shares |
Rs.5/- each |
Rs.62.498
Millions |
|
|
Add : 10300 Equity Forfeited Shares |
|
Rs.0.052
Million |
|
|
TOTAL |
|
Rs.62.550 Millions |
Reconciliation of
number of Equity Shares and amount outstanding
|
Particulars |
31.03.2013 |
|
|
|
Numbers |
Rs. In Millions |
|
Shares Outstanding at April 1, 2012 |
12499700 |
62.498 |
|
Shares Outstanding at March 31, 2013 |
12499700 |
62.498 |
The
details of Shareholders holding more than 5% shares
|
Name of the
Share Holder |
31.03.2013 |
|
|
|
Numbers |
Percentage |
|
Agarwal Galvanishing Private Limited |
675600 |
5.40% |
|
Mala Patwari |
891700 |
7.13% |
|
Sunil Patwari |
712000 |
5.70% |
|
Nagreeka Synthetics Private Limited |
940270 |
7.52% |
The Company has one class of equity share having a par value of Rs. 5
per share. Each shareholder is eligible for one vote per share held.
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
62.550 |
62.550 |
62.550 |
|
(b) Reserves & Surplus |
876.328 |
834.999 |
798.123 |
|
(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) |
938.878 |
897.549 |
860.673 |
|
|
|
|
|
|
(3) Non-current
liabilities |
|
|
|
|
(a) Long-term borrowings |
802.441 |
867.708 |
453.041 |
|
(b) Deferred tax liabilities (Net) |
184.485 |
160.950 |
149.776 |
|
(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) |
986.926 |
1028.658 |
602.817 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
1405.292 |
1131.966 |
1048.788 |
|
(b) Trade payables |
226.055 |
224.460 |
126.599 |
|
(c) Other current liabilities |
186.451 |
114.822 |
115.586 |
|
(d) Short-term provisions |
36.383 |
26.155 |
9.938 |
|
Total
Current Liabilities (4) |
1854.181 |
1497.403 |
1300.911 |
|
|
|
|
|
|
TOTAL |
3779.985 |
3423.610 |
2764.401 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1325.152 |
1362.275 |
833.632 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
16.452 |
0.000 |
129.445 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
142.434 |
142.434 |
142.344 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
32.828 |
38.580 |
26.296 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1516.866 |
1543.289 |
1131.717 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
939.341 |
826.455 |
913.332 |
|
(c) Trade receivables |
285.882 |
133.511 |
150.117 |
|
(d) Cash and cash equivalents |
19.191 |
23.354 |
54.124 |
|
(e) Short-term loans and
advances |
1018.705 |
897.001 |
515.111 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets
|
2263.119 |
1880.321 |
1632.684 |
|
|
|
|
|
|
TOTAL |
3779.985 |
3423.610 |
2764.401 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
6302.847 |
6418.391 |
4956.705 |
|
|
|
Other Income |
46.425 |
30.275 |
18.620 |
|
|
|
TOTAL (A) |
6349.272 |
6448.666 |
4975.325 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
1512.509 |
1324.123 |
1489.645 |
|
|
|
Purchase of Traded Goods |
3676.226 |
3828.515 |
2856.136 |
|
|
|
Change in inventories of Finished Goods, Stock in Process and Stock in
Trade |
(59.305) |
124.003 |
(279.053) |
|
|
|
Employees Benefit Expenses |
162.396 |
125.660 |
109.901 |
|
|
|
Other Expenses |
658.793 |
699.294 |
543.159 |
|
|
|
TOTAL (B) |
5950.619 |
6101.595 |
4719.788 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
398.653 |
347.071 |
255.537 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
198.555 |
212.133 |
174.303 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
200.098 |
134.938 |
81.234 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
99.284 |
70.529 |
69.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
100.814 |
64.409 |
11.998 |
|
|
|
|
|
|
|
|
|
Add |
TAX (H) |
52.173 |
20.222 |
9.732 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
48.641 |
44.187 |
21.730 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
138.533 |
101.656 |
79.926 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
6.249 |
0.000 |
|
|
|
Income tax on Dividend |
NA |
1.062 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
138.533 |
101.656 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
3018.436 |
3872.893 |
|
|
TOTAL EARNINGS |
NA |
3018.436 |
3872.893 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.89 |
3.54 |
1.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
0.77
|
0.69
|
0.44
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.60
|
1.00
|
0.24
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78
|
0.02
|
0.48
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.07
|
0.01
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.35
|
2.23
|
1.74
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.26
|
1.26
|
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
62.550 |
62.550 |
62.550 |
|
Reserves & Surplus |
798.123 |
834.999 |
876.328 |
|
Net
worth |
860.673 |
897.549 |
938.878 |
|
|
|
|
|
|
long-term borrowings |
453.041 |
867.708 |
802.441 |
|
Short term borrowings |
1,048.788 |
1,131.966 |
1,405.292 |
|
Total
borrowings |
1,501.829 |
1,999.674 |
2,207.733 |
|
Debt/Equity
ratio |
1.745 |
2.228 |
2.351 |
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) |
|
Revenue from operations |
4,956.705 |
6,418.391 |
6,302.847 |
|
|
|
29.489 |
(1.800) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
4,956.705 |
6,418.391 |
6,302.847 |
|
Profit/(Loss) After Tax |
21.730 |
44.187 |
48.641 |
|
|
0.44% |
0.69% |
0.77% |
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 |
Yes |
|
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 |
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 |
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 |
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 |
LITIGATION DETAILS
|
CULCUTTA HIGH COURT CASE STATUS INFORMATION SYSTEMS STATUS OF : INCOME TAX APPEALS (ITA) 106 of
2012 COMMISSIONER OF INCOME TAX, KOLKATA – II Vs. M/s NAGREEKA EXPORTS LIMITED PET’S ADV.: : G. S. MAKKER RES’S ADV.: : COURT NO. : 19 LAST
LISTED ON : FRIDAY, AUGUST 24, 2012 CATEGORY : INCOME TAX : REVENUE CONNECTED APPLICATION : NO CONNECTED APPLICATION CONNECTED MATTER : NO
CONNECTED CASES CASE UPDATE ON : WEDNESDAY,
AUGUST 29, 2012. |
FIXED ASSETS
·
Land and Site Development
·
Land (Leasehold)
·
Office Premises
·
·
Godown
·
Plant and Machinery
·
Furniture and Fixtures
·
Air Conditioner
·
Vehicles
·
Computer
·
Office Equipments
·
Non Factory Building
·
Refrigerator
·
Old Machine in Hand
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 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.60.19 |
|
|
1 |
Rs.102.87 |
|
Euro |
1 |
Rs.81.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
3 |
|
--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 |
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 |
|
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.