MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT MICROWAX PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

300 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Microcrystalline Cellulose Powder used in Pharmaceutical Industries.

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         USA

·         Europe

 

 

Imports :

 

Products :

Raw Material

Countries :

·         USA

·         Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

PRODUCTION STATUS (AS ON 31.03.2012)

 

Particulars

Unit

Licensed Capacity

Installed Capacity

 

Microcrystalline Cellulose Powder

MT

5100.000

4830.582

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

300 (Approximately)

 

 

Bankers :

State Bank of India, Overseas Branch, 3rd Floor, Amrut Jayanti Bhavan, Near Navjivan P.O., Ahmedabad - 380014, Gujarat, India

 

 

Facilities :

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

Long Term Borrowings

 

 

HDFC Bank Loan‐ Volkswagan Car

(Secured against Hypothecation of Motor Vehicle Volkswagan car)

0.000

0.219

Short Term Borrowings

 

 

Cash Credit of S.B.I. ‐ Ahmedabad

142.877

42.412

P.C.F.C. A/c‐ USD

0.000

101.035

P.C.F.C. A/c‐ EURO

0.000

2.627

EBR A/C No. 30176195733 (NLC)

0.000

2.493

Total

142.877

148.786

 

 

UNSECURED LOANS

 

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

Long Term Borrowings

 

 

Loans and advances from related parties

 

 

Rettenmaier Asia Holding GMBH

48.854

48.508

Short Term Borrowings

 

 

Loans and advances from related parties

 

 

Anilkumar Jhajharia ‐ HUF

0.000

41.525

AnilKumar Jhajharia

23.702

9.814

Manas Jhajharia ‐ HUF

0.000

0.138

Meenakshi Jhajharia

15.636

4.386

Manas Jhajharia

3.200

1.675

Total

91.392

106.046

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Pipara and Company

Chartered Accountants

Address :

Pipara Corporate House, Near Gruh Finance, Netaji Mark, Law Garden, Ahmedabad – 380006, Gujarat, India

PAN No.:

AABFP9063B

 

 

Associates:

·         Gujarat Overseas Inc.

·         Gujarat Paraffins Private Limited

·         Gujarat Parachlore Private Limited

·         Rettenmaier Asia Holding GMBH

·         Shaili Bio‐Tech Private Limited

·         Gujarat Parawaxes (Private) Limited

·         Rettenmaier India Private Limited

 

 

MAJOR SHAREHOLDERS

 

As on 25.09.2013

 

Names of Shareholders

 

No. of Shares

 

Anilkumar Jhajharia

 

929120

Manas Jhajharia

 

108080

Meenakshi Jhajharia

 

125000

Swati Jhajharia

 

76800

Anilkumar Jhajharia HUF

 

127650

Manas Jhajharia HUF

 

56975

Rettenmaier Asia Holding GMBH

 

1423625

Total

 

2847250

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

SOURCES OF FUNDS

 

31.03.2013

31.03.2012

31.03.2011

I.        EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

28.473

28.473

28.473

(b) Reserves & Surplus

452.269

331.395

264.041

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.010

0.010

0.010

Total Shareholders’ Funds (1) + (2)

480.752

359.878

292.524

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

48.854

48.727

58.612

(b) Deferred tax liabilities (Net)

38.800

36.772

33.981

(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)

87.654

85.499

92.593

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

185.415

206.105

197.805

(b) Trade payables

18.268

10.662

78.827

(c) Other current liabilities

19.786

32.417

69.331

(d) Short-term provisions

63.851

30.982

2.169

Total Current Liabilities (4)

287.320

280.166

348.132

 

 

 

 

TOTAL

855.726

725.543

733.249

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

286.955

301.406

305.014

(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

0.018

0.019

6.704

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

58.111

27.274

6.463

(e) Other Non-current assets

3.883

3.098

3.535

Total Non-Current Assets

348.967

331.797

321.716

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

116.832

134.428

106.072

(c) Trade receivables

185.699

155.552

153.908

(d) Cash and cash equivalents

144.175

47.555

30.736

(e) Short-term loans and advances

27.378

9.295

59.675

(f) Other current assets

32.675

46.916

61.142

Total Current Assets

506.759

393.746

411.533

 

 

 

 

TOTAL

855.726

725.543

733.249

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

 

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

958.824

741.500

671.677

 

 

Other Income

NA

NA

39.933

 

 

TOTAL                                    

NA

NA

711.610

 

 

 

 

 

Less

EXPENSES

NA

NA

618.103

 

 

 

 

(Including Interest and Depreciation)

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, EXTRA ORDINARY ITEMS, DEPRECIATION AND AMORTISATION

207.463

127.213

 

 

 

 

 

 

Less

EXTRA ORDINARY ITEMS                                

0.016

0.132

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

207.447

127.081

 

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

8.066

8.861

 

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION              

199.381

118.220

 

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

18.939

18.502

 

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX            

180.442

99.718

93.507

 

 

 

 

 

Less

TAX                                                                 

59.569

32.364

11.070

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  

120.873

67.354

82.437

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

240.911

173.557

91.120

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

361.784

240.911

173.557

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

775.610

623.052

561.882

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

42.45

23.66

28.95

 

FUTURE PROSPECTS

 

The market of their products as well the production and sales of companies products will increase substantially in coming years. During the year Company has commenced production at new unit and export of Croscarmellose Sodium. Directors feels extensive demand of the product in the coming year.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (49)

 

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 :

Not Available

 

 

RBI DEFAILTERS’ LIST STATUS

 

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

 

 

LOCATIONS

 

Registered Office :

401, 402 Sarthik Square, Near GNFC Tower, Sarkhej Gandhinagar Highway , Bodakdev, Ahmedabad – 380054, Gujarat, India

Tel. No. :

91-79-26852181

Fax No. :

91-79-26854169 / 26854170

E-Mail :

mj@gmpl.in

jp@gmail.com

Website :

www.shailibiotech.com

www.gmpl.com

Location :

Owned

 

 

Factory :

Located at Nandasan Village, District Mehsana, Gujarat, India

 

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.