MIRA
INFORM REPORT
|
Report Date : |
26.07.2014 |
IDENTIFICATION DETAILS
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Name : |
GUJARAT AMBUJA EXPORTS LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
21.08.1991 |
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Com. Reg. No.: |
04-016151 |
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Capital
Investment / Paid-up Capital : |
Rs. 276.704
Millions |
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CIN No.: [Company Identification
No.] |
L15140GJ1991PLC016151 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG00194F |
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PAN No.: [Permanent Account No.] |
AAACG3980A |
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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
: |
Subject is engaged in the business of Agro Processing, Cotton Yarn, Maize Processing and Windmills Power Generation. |
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No. of Employees
: |
3290 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (54) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 31000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having good track record. The company
is performing well. Financial position of the company seems to be strong and
healthy. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
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 |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
NEWS
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 |
CRISIL |
|
Rating |
Long term bank facilities: A |
|
Rating Explanation |
Have adequate degree of safety and carry low credit risk. |
|
Date |
25.06.2014 |
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Rating Agency Name |
CRISIL |
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Rating |
Short term Instrument: A1 |
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Rating Explanation |
Have very strong degree of safety and carry lowest credit risk. |
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Date |
25.06.2014 |
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 PARTED BY
|
Name : |
Mr. Ashok |
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Designation : |
Finance Manager |
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Contact No.: |
91-79-26423316 |
LOCATIONS
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Registered Office : |
“Ambuja Tower”, Opposite Memnagar Fire Station, Navrangpura, Post
Navjivan, Ahmedabad – 380014, Gujarat, India |
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Tel. No.: |
91-79-26423316-20/ 26405535-37/ 39 |
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Fax No.: |
91-79-26423079 |
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E-Mail : |
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Website : |
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PLANT LOCATIONS
: |
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Agro Processing
Division : |
1.
Edible Oil Refineries and Vanaspati Ghee Unit,
Kadi, District Mehsana, Gujarat, India 2.
Solvent Extraction Unit-I, Nani Kadi, District
Mehsana, Gujarat, India 3.
Solvent Extraction Unit-II, Kadi, District
Mehsana, Gujarat, India 4.
Solvent Extraction Unit-III, Kadi, District
Mehsana, Gujarat, India 5.
Solvent Extraction Unit-IV, Pithampur, District
Dhar, Madhya Pradesh, India 6.
Solvent Extraction Unit –V, Village
Kanheri-Gawali, Taluka Balapur, District Akola, Maharashtra, India 7.
Solvent Extraction Unit – VI, District Mandsaur,
Madhya Pradesh, India 8.
Wheat Processing Unit, Kadi, District Mehsana,
Gujarat, India 9.
Cattle Feed Unit, Kadi, District Mehsana,
Gujarat, India 10.
Wheat Processing Unit, Pithampur, District Dhar,
Madhya Pradesh, India |
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Power Division : |
Wind Mills (In
the State of Gujarat) 1.
B-87, R S No. 471/P, Village Lamba, Taluka
Kalyanpur, District Jamnagar, Gujarat, India 2.
WTG No. 1, Machine No.1, Survey No. 400, Village Kuranga,
Taluka Dwarka, District Jamnagar, Gujarat, India 3.
WTG No. 2, Machine No.2, Survey No. 400, Village
Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India 4.
WTG No. 3, Machine No. 6, Survey No. 400, Village
Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India 5.
Survey No.213/2, Village Satapar, Taluka
Kalyanpur, District Jamnagar, Gujarat, India 6.
WTG No.1, V-4, Survey No. 43/1/P, Village
Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India 7.
WTG No.2, V-7, Survey No. 36/2/P, Village Motisindhodi,
Taluka Abdasa, District Kutch, Gujarat, India 8.
Survey No. 115/P, Village Mindiyali, Taluka
Anjar, District Kutch, Gujarat, India 9.
Power Plant (11 MW Cogeneration Plant) Village
Dalpur, District Sabarkantha, Gujarat, India |
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Maize Processing
Division : |
1.
Bio-Chemical Division, Village Dalpur, District
Sabarkantha, Gujarat, India 2.
Sitarganj, District Udham Singh Nagar,
Uttarakhand, India 3.
Village Hulsoggi, P.O. Manakatti, Tq. Shiggoan,
District Haveri, Karnataka, India |
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Cotton Yarn
Division : |
Cotton Spinning Division, Village Dalpur, District Sabarkantha,
Gujarat, India |
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Branch Offices : |
Located
At: ·
Mumbai ·
New Delhi ·
Indore ·
Akola ·
Vietnam |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Vijay Kumar Gupta |
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Designation : |
Chairman and Managing Director |
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Date of Birth/Age : |
64 years |
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Qualification : |
B. DS |
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Experience : |
41 Years |
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Date of Appointment : |
18.04.1988 |
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Name : |
Mr. Manish V. Gupta |
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Designation : |
Managing Director |
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Date of Birth/Age : |
41 years |
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Qualification : |
B.Com |
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Experience : |
22 years |
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Date of Appointment : |
28.12.1998 |
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Name : |
Mr. Mohit V. Gupta |
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Designation : |
Joint Managing Director |
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Date of Birth/Age : |
20.11.1981 |
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Qualification : |
B. Com., Diploma in IBM, HRM, FBM and Diploma in computer Information
Systems |
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Name : |
Mr. Sandeep N. Agrawal, |
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Designation : |
Whole Time Director |
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Date of Birth/Age : |
12.12.1971 |
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Qualification : |
Commerce Graduate and MBA. |
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Experience : |
More than 21 Years |
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Name : |
Mrs. Sulochana V. Gupta |
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Designation : |
Director |
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Date of Birth/Age : |
01.11.1953 |
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Experience : |
36 Years |
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Name : |
Mr. Sudhin B. Choksey |
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Designation : |
Director |
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Name : |
Mr. Chaitan M. Maniar |
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Designation : |
Director |
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Date of Birth/Age : |
04.12.1935 |
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Qualification : |
B. Com. LLB, MA |
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Name : |
Mr. Prakash G. Ramrakhiani |
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Designation : |
Director |
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Date of Birth/Age : |
25.11.1940 |
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Qualification : |
B.A. [Hons], M.A. [Eco], IAS |
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Name : |
Mr. Ashok C. Gandhi |
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Designation : |
Director |
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Date of Birth/Age : |
04.12.1939 |
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Qualification : |
B. Com. LLB and Advocate |
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Experience : |
More than 42 years in the legal profession. |
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Name : |
Mr. Rohit J. Patel |
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Designation : |
Director |
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Date of Birth/Age : |
22.02.1946 |
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Qualification : |
B. E. [Electrical] |
KEY EXECUTIVES
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Name : |
Mr. N. Giridhar |
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Designation : |
Chief Financial Officer |
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Name : |
Mr. Manan C. Bhavsar |
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Designation : |
Company Secretary |
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Name : |
Mr. Ashok |
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Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category
of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
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(A) Shareholding
of Promoter and Promoter Group |
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|
99564393 |
71.96 |
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|
99564393 |
71.96 |
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Total shareholding
of Promoter and Promoter Group (A) |
99564393 |
71.96 |
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(B) Public
Shareholding |
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|
67095 |
0.05 |
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|
7450 |
0.01 |
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|
74545 |
0.05 |
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|
2991815 |
2.16 |
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|
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|
31392905 |
22.69 |
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|
3596522 |
2.60 |
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|
731695 |
0.53 |
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|
2500 |
0.00 |
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|
8050 |
0.01 |
|
|
721145 |
0.52 |
|
|
38712937 |
27.98 |
|
Total Public
shareholding (B) |
38787482 |
28.04 |
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Total (A)+(B) |
138351875 |
100.00 |
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(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
0 |
0.00 |
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|
Total (A)+(B)+(C) |
138351875 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million 
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Agro Processing, Cotton Yarn, Maize Processing and Windmills Power Generation. |
GENERAL INFORMATION
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No. of Employees : |
3290 (Approximately) |
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Bankers : |
· Bank of India State Bank of India Union Bank of India HDFC Bank Limited State Bank of Mysore Yes Bank Limited Punjab National Bank |
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Facilities : |
LONG-TERM BORROWINGS (i) Term loan
from Bank of India carries gross interest @ 12.25% p.a. The loan is secured by
hypothecation of specific movable Plant and Machinery. Further, the loan has
been guaranteed by the personal guarantee of three promoter directors. The
loan is repayable in quarterly installments of Rs.3.800 Millions each along
with interest, from the date of loan, viz. September 2009. This loan is
eligible for interest subsidy of 4% p.a. under TUF scheme of Central Govt.
The loan has been fully repaid during the year. (ii) Term loan
from Indian Renewable Energy Development Agency, New Delhi carries interest @
8% p.a. The loan is repayable in quarterly installments of Rs.1.700 Millions
along with interest from the date of June 2007.The loan is secured by
hypothecation of Wind Mills. The loan has been repaid during the year. SHORT TERM BORROWINGS Working Capital
and Short term loan from banks is secured by a hypothecation of current
assets and certain tangible movable plant and machinery and joint equitable
mortgage of certain immovable fixed assets of the Company, personal guarantee
of three promoter directors and lien on certain Fixed Deposits of the
company. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kantilal Patel
and Company (A member firm of PrimeGlobal, USA). Chartered Accountants |
|
Address : |
2nd Floor, |
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Tel. No.: |
91-79-27551333/ 27552333 |
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Fax No.: |
91-79-27550538 |
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E-Mail : |
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Wholly Owned Subsidiary : |
Gujarat Ambuja International Pte. Limited, Singapore |
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Enterprise significantly influenced by Key Managerial Persons : |
· Jay Infrastructure and Properties Private Limited Jay Ambe Infra Projects Private Limited Jay Infrastructure and Properties LLP |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 276.704 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs. 2/- each |
Rs.500.000 Millions |
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
138351875 |
Equity Shares |
Rs. 2/- each |
Rs.276.700
Millions |
|
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|
a. Reconciliation of the Shares Outstanding at the Beginning and at the
end of the Reporting Period
|
Equity shares |
31.03.2013 |
|
|
|
No. of Share |
Rs. in Millions |
|
Outstanding at the beginning of the period |
138351875 |
276.700 |
|
Outstanding at the end of the period. |
138351875 |
276.700 |
b. Terms/rights
attached to Equity Shares
i) The company has
only one class of equity shares carrying par value of Rs.2 per share, carrying equal
rights as to dividend, voting and in all other respects.
ii) During the
year ended 31st March 2013, the amount of per share dividend recognized as
distribution to equity shareholders was Rs.0.80 (31st March 2012: Rs.0.60).
c. During the period
from 01.04.2007 to 31.03.2013, in the year 2007-08 company bought back 966615
equity shares out of 139318490 equity shares as per the Board resolution passed
by the company at its Board Meeting held on 16th January 2007.
d. Details of
shareholders holding more than 5% shares in the company.
|
Equity shares of
Rs. 2 each fully paid |
31.03.2013 |
|
|
Name of the Shareholders |
No. of Shares
Held |
% Holding in the
class |
|
Vijay Kumar Gupta |
39023083 |
28.206 |
|
Manish V. Gupta |
37025348 |
26.761 |
|
Mohit V. Gupta |
9017095 |
6.517 |
As per of the
company, including its register of shareholders/members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents legal ownerships of shares.
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 |
276.704 |
276.700 |
276.700 |
|
(b) Reserves & Surplus |
7273.726 |
6270.400 |
5271.000 |
|
(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) |
7550.430 |
6547.100 |
5547.700 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
26.100 |
|
(b) Deferred tax liabilities (Net) |
519.902 |
583.500 |
493.200 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
17.390 |
6.800 |
6.800 |
|
Total Non-current
Liabilities (3) |
537.292 |
590.300 |
526.100 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a)
Short term borrowings |
4014.674 |
1831.600 |
3563.300 |
|
(b)
Trade payables |
670.939 |
2691.200 |
1378.500 |
|
(c)
Other current liabilities |
266.633 |
309.300 |
351.900 |
|
(d) Short-term
provisions |
61.968 |
50.800 |
21.300 |
|
Total Current
Liabilities (4) |
5014.214 |
4882.900 |
5315.000 |
|
|
|
|
|
|
TOTAL |
13101.936 |
12020.300 |
11388.800 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
4781.037 |
4564.800 |
2881.600 |
|
(ii)
Intangible Assets |
12.425 |
14.700 |
7.400 |
|
(iii)
Capital work-in-progress |
635.751 |
381.200 |
1690.600 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
417.277 |
446.000 |
443.200 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
380.122 |
264.800 |
266.400 |
|
(e) Other
Non-current assets |
3.660 |
4.500 |
5.800 |
|
Total Non-Current
Assets |
6230.272 |
5676.000 |
5295.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.300 |
|
(b) Inventories |
4972.863 |
4571.200 |
3711.000 |
|
(c)
Trade receivables |
1495.976 |
1088.000 |
1730.900 |
|
(d) Cash
and cash equivalents |
57.749 |
324.200 |
224.000 |
|
(e)
Short-term loans and advances |
298.347 |
275.700 |
372.400 |
|
(f) Other
current assets |
46.729 |
85.200 |
55.200 |
|
Total
Current Assets |
6871.664 |
6344.300 |
6093.800 |
|
|
|
|
|
|
TOTAL |
13101.936 |
12020.300 |
11388.800 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations (Net) |
30804.198 |
30046.200 |
21140.900 |
|
|
|
Other Income |
214.754 |
94.500 |
55.100 |
|
|
|
TOTAL (A) |
31018.952 |
30140.700 |
21196.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
23665.290 |
20691.000 |
14290.100 |
|
|
|
Purchase of Traded Goods |
1902.311 |
4113.400 |
2587.900 |
|
|
|
(Increase)/ Decrease in Inventories of Finished Goods, Work-in-Progress and Traded Goods |
(830.156) |
(49.800) |
232.800 |
|
|
|
Employee Benefits Expenses |
721.957 |
660.700 |
471.800 |
|
|
|
Exchange Fluctuation |
175.063 |
|
|
|
|
|
Other Expenses |
3334.157 |
2685.200 |
2500.700 |
|
|
|
TOTAL (B) |
28968.622 |
28100.500 |
20083.300 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2050.330 |
2040.200 |
1112.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
206.473 |
217.000 |
208.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1843.857 |
1823.200 |
903.800 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
474.126 |
366.800 |
298.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1369.731 |
1456.400 |
605.200 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
253.106 |
322.900 |
108.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1116.625 |
1133.500 |
497.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
4371.800 |
3486.700 |
3141.200 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
NA |
110.600 |
83.000 |
|
|
|
Dividend Distribution Tax On Interim Dividend |
NA |
17.800 |
13.500 |
|
|
|
Transfer To General Reserve |
NA |
120.000 |
55.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
4371.800 |
3486.700 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export Sales |
NA |
7791.300 |
5384.800 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
6689.300 |
2556.400 |
|
|
|
Stores and Components |
NA |
14.100 |
6.800 |
|
|
|
Capital Goods |
NA |
53.700 |
234.600 |
|
|
TOTAL IMPORTS |
NA |
6757.100 |
2797.800 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.07 |
8.19 |
3.59 |
|
The above information has been parted by Mr. Ashok (Finance Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.60
|
3.76
|
2.34 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.45
|
4.85
|
2.86 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.37
|
13.01
|
6.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.22
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.53
|
0.28
|
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.30
|
1.15 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
276.700 |
276.700 |
276.704 |
|
Reserves & Surplus |
5,271.000 |
6,270.400 |
7,273.726 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5,547.700 |
6,547.100 |
7,550.430 |
|
|
|
|
|
|
long-term borrowings |
26.100 |
0.000 |
0.000 |
|
Short term borrowings |
3,563.300 |
1,831.600 |
4,014.674 |
|
Total
borrowings |
3,589.400 |
1,831.600 |
4,014.674 |
|
Debt/Equity
ratio |
0.647 |
0.280 |
0.532 |
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 |
21,140.900 |
30,046.200 |
30,804.198 |
|
|
|
42.124 |
2.523 |
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 |
21,140.900 |
30,046.200 |
30,804.198 |
|
Profit/(Loss) After Tax |
497.000 |
1,133.500 |
1,116.625 |
|
|
2.35% |
3.77% |
3.62% |
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 |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES:
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10086124 |
06/05/2013 * |
10,810,600,000.00 |
BOI CONSORTIUM - BOI LEAD + UBI + SBM + HDFC BK + SBI + YES BK |
AHMEDABAD LARGE
CORPORATE BRANCH, 2ND FLOOR BOI B |
B76179225 |
* Date of charge modification
COMPANY INFORMATION
Subject is Agro Processing conglomerate with various manufacturing plants
at different locations in states of Gujarat, Maharashtra, Madhya Pradesh,
Uttarakhand and Karnataka. The Group’s product profile includes Solvent
Extraction comprising of all types of Oil Seed processing, Edible Oil Refining,
Cotton Yarn Spinning, Maize based Starch and its derivatives, Wheat Processing,
Cattle Feed and Power Generation through Wind Mills, Bio gas and Thermal Power
Plants. The Company’s shares are listed with BSE and NSE.
The company has also setup a wholly-owned subsidiary at Singapore to
focus on international trading activities.
FIXED ASSETS:
Tangible Assets
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Windmills
·
Plant and Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
· Brands / Trademarks
·
Technical know how
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 records 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.60.14 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
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 |
|
54 |
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.