MIRA INFORM REPORT
|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
CAMSON BIO TECHNOLOGIES LIMITED |
|
|
|
|
Registered
Office : |
Survey 133, 132, 125, 130, 84, Madhure Hobli, Madagondanahalli, Dodabalapur,
Bangalore – 561203, Karnataka |
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|
|
Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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|
|
Date of
Incorporation : |
19.11.1993 |
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Com. Reg. No.: |
08-014944 |
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Capital
Investment / Paid-up Capital : |
Rs.181.300 Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
L85110KA1993PLC014944 |
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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
: |
Manufacturer of Biocides. |
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|
|
|
No. of Employees
: |
291 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6500000 |
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|
|
Status : |
Good |
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|
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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. Financial position of the company is sound and healthy. Trade relations are reported as fair. Business is active. Payments
terms 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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Narendra |
|
Designation : |
Account Manager |
|
Contact No.: |
91-80-40768900 |
|
Date : |
10.06.2014 |
LOCATIONS
|
Registered Office / Factory : |
Survey 133, 132, 125, 130, 84, Madhure Hobli, Madagondanahalli,
Dodabalapur, Bangalore – 561203, Karnataka, India |
|
Tel. No.: |
91-80-40768900 |
|
Fax No.: |
91-80-25202285 |
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E-Mail : |
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Website : |
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Corporate Headquarter: |
C-7, 7th Floor, Corporate Block, Golden Enclave, Old
Airport Road, Bangalore – 560017, Karnataka, India |
|
Tel. No.: |
91-80-40768900/25202283/84 |
|
Fax No.: |
91-80-25202285 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Dhirendra Kumar |
|
Designation : |
Managing Director |
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|
|
|
Name : |
Mr. A.N Singh |
|
Designation: |
Director |
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|
Name : |
Mr. Krishanswamy Ramaswamy |
|
Designation : |
Director |
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|
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|
Name : |
Mr. B.C Madappa |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Veerendra Kumar Singh |
|
Designation : |
Director |
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|
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|
Name : |
Dr. Anurudh Kumar Singh |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Gulshan Kumar Khanna |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Narendra |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Ms. Ekta Gandhi Thakurel |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2063180 |
8.18 |
|
|
2790000 |
11.06 |
|
|
1785420 |
7.08 |
|
|
1785420 |
7.08 |
|
|
6638600 |
26.32 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6638600 |
26.32 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
750000 |
2.97 |
|
|
4670398 |
18.51 |
|
|
5420398 |
21.49 |
|
|
|
|
|
|
3930798 |
15.58 |
|
|
|
|
|
|
3868394 |
15.34 |
|
|
3969668 |
15.74 |
|
|
1397655 |
5.54 |
|
|
1280427 |
5.08 |
|
|
111228 |
0.44 |
|
|
6000 |
0.02 |
|
|
13166515 |
52.20 |
|
Total Public shareholding (B) |
18586913 |
73.68 |
|
Total (A)+(B) |
25225513 |
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) |
25225513 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Biocides. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
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|
|
|
Purchasing : |
Cash and Credit, Depend |
GENERAL INFORMATION
|
No. of Employees : |
291 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Messers Iswar and Gopal Chartered Accountants |
|
Address : |
Sri Vinayaka Building, No. 21/3, 2nd Floor, T.S.P Road, Kalasipalyam, Bangalore-560002, Karnataka, India |
|
Tel. No.: |
91- 80-26700009/26701694 |
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Fax No.: |
91- 80-26706317 |
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Subsidiaries:: |
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Associates:
Entities where Key Management Personnel (KMP)/relatives of Key Management Personnel (RKMP) have
significant influence: |
|
CAPITAL STRUCTURE
As on 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
35000000 |
Equity Shares |
Rs.10/- each |
Rs. 350.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25225513 |
Equity Shares |
Rs.10/- each |
Rs. 252.255
Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18130000 |
Equity Shares |
Rs.10/- each |
Rs. 181.300
Millions |
|
|
|
|
|
NOTE:
a. Par value per equity Share is Rs. 10 /=
b. Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period.
|
Particulars |
31.03.2013 |
|
|
|
Number |
Rs. In Million |
|
Equity Shares |
|
|
|
Outstanding at the beginning of the period |
18,130,000 |
181.300 |
|
Outstanding at the end of the period |
18,130,000 |
181.300 |
c. Terms / rights attached to equity shares
The Company has only one class of equity shares having par value of Rs. 10 per Share. Each holder of an equity share is entitled to one vote per share. The company declares and pays dividend in Indian rupees. The dividend proposed by the board of directors is subject to the approval of share holders in the annual general meeting.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of shares held by the equity share holders.
d. Shares held by each shareholder holding more than 5 percent shares specifying the number of shares held
|
Name of the
Shareholder |
31.03.2013 |
|
|
|
No. of shares held |
% of holding |
|
Dhirendra Kumar |
1,944,680 |
10.73 |
|
Camson Farm Produce Private Limited |
1,061,093 |
5.85 |
|
Shashtika Health Resort and SPA Private Limited |
990,000 |
5.46 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
181.300 |
181.300 |
181.300 |
|
(b) Reserves & Surplus |
1283.671 |
1074.619 |
867.544 |
|
(c) Money received against
share warrants |
148.000 |
0.000 |
20.931 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1612.971 |
1255.919 |
1069.775 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
159.117 |
25.322 |
1.899 |
|
(b) Deferred tax liabilities
(Net) |
14.467 |
16.276 |
6.077 |
|
(c) Other long term
liabilities |
8.195 |
7.218 |
0.000 |
|
(d) long-term provisions |
4.004 |
3.169 |
2.463 |
|
Total
Non-current Liabilities (3) |
185.783 |
51.985 |
10.439 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
225.132 |
98.591 |
8.004 |
|
(b) Trade payables |
27.627 |
75.005 |
138.142 |
|
(c) Other current liabilities |
87.059 |
27.030 |
59.037 |
|
(d) Short-term provisions |
27.231 |
23.147 |
27.077 |
|
Total
Current Liabilities (4) |
367.049 |
223.773 |
232.260 |
|
|
|
|
|
|
TOTAL |
2165.803 |
1531.677 |
1312.474 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
783.855 |
345.936 |
266.028 |
|
(ii) Intangible Assets |
0.332 |
0.350 |
0.066 |
|
(iii) Capital work-in-progress |
0.000 |
221.186 |
111.578 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.083 |
0.091 |
0.091 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
231.545 |
64.909 |
6.668 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1015.815 |
632.472 |
384.431 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
395.586 |
400.063 |
43.423 |
|
(c) Trade receivables |
640.643 |
469.346 |
427.228 |
|
(d) Cash and cash equivalents |
16.755 |
8.591 |
423.629 |
|
(e) Short-term loans and
advances |
96.254 |
21.127 |
19.441 |
|
(f) Other current assets |
0.750 |
0.078 |
14.322 |
|
Total
Current Assets |
1149.988 |
899.205 |
928.043 |
|
|
|
|
|
|
TOTAL |
2165.803 |
1531.677 |
1312.474 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1196.080 |
1122.390 |
987.393 |
|
|
Other Income |
3.031 |
4.937 |
9.411 |
|
|
TOTAL
(A) |
1199.111 |
1127.327 |
996.804 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
282.838 |
243.561 |
420.046 |
|
|
Purchases of Stock-in-Trade |
98.627 |
0.000 |
0.000 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
2.626 |
25.449 |
(198.064) |
|
|
Employees benefits expense |
70.731 |
50.795 |
44.036 |
|
|
Other expenses |
459.565 |
583.071 |
496.245 |
|
|
TOTAL
(B) |
914.387 |
902.876 |
762.263 |
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
284.724 |
224.451 |
234.541 |
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
20.109 |
3.619 |
1.432 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
264.615 |
220.832 |
233.109 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
33.538 |
16.365 |
9.216 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
231.077 |
204.467 |
223.893 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
1.016 |
-2.756 |
3.787 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
230.061 |
207.223 |
220.106 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
486.185 |
300.041 |
300.944 |
|
|
|
|
|
|
|
Add |
Earlier
year excess proposed dividend and dividend distribution tax (L) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Proposed Final Dividend |
18.130 |
18.130 |
18.130 |
|
|
Tax on Dividend |
2.879 |
2.949 |
2.879 |
|
|
Transfer to General Reserve |
|
0.000 |
200.000 |
|
|
Total
(M) |
21.009 |
21.079 |
221.009 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
695.237 |
486.185 |
300.041 |
|
|
|
|
|
|
|
basic
|
12.69 |
11.43 |
13.64 |
|
|
Diluted |
9.53 |
11.43 |
13.64 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1450.000 |
The above information has been parted by Mr. Narendra (Account Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
19.19 |
18.38 |
22.08 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.32 |
18.22 |
22.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.67 |
15.60 |
18.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.16 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.24 |
0.10 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.13 |
4.02 |
4.00 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
181.300 |
181.300 |
181.300 |
|
Reserves & Surplus |
867.544 |
1074.619 |
1283.671 |
|
Net
worth |
1048.844 |
1255.919 |
1464.971 |
|
|
|
|
|
|
long-term borrowings |
1.899 |
25.322 |
159.117 |
|
Short term borrowings |
8.004 |
98.591 |
225.132 |
|
Total
borrowings |
9.903 |
123.913 |
384.249 |
|
Debt/Equity
ratio |
0.009 |
0.099 |
0.262 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
987.393 |
1122.390 |
1196.080 |
|
|
|
13.672 |
6.565 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
987.393 |
1122.390 |
1196.080 |
|
Profit |
220.106 |
207.223 |
230.061 |
|
|
22.29% |
18.46% |
19.23% |
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
four 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) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
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 |
No |
REVIEW OF OPERATIONS:
During the year, the Company has improved the topline to Rs.1196.080 Millions from Rs. 1122.390 Millions of the previous financial year. This was achieved despite of poor monsoons in the interior areas in many parts of the country. The net profit for the year is Rs.230.062 Millions as against Rs.207.223 Millions during the previous financial year. The Directors are on a continuous look-out for opportunities for future growth of the Company.
MANAGEMENT DISCUSSION
AND ANALYSIS
OVERVIEW:
Started in 1993, Camson Bio Technologies Limited is one of the leading biotechnology companies in the country with a focus on agricultural innovation. The Company is the brainchild of Mr. Dhirendra Kumar, who wanted to make a difference in the agricultural space which was being abused by chemical pesticides and overuse of fertilizers.
After a decade of research, the Company launched its first product (Calphomil) in 2000 and since then, there has
been no looking back. Today, the Company has a unique range of 22 biocides, 7 bio fertilizers and plant growth promoters in its kitty along with 45 varieties of hybrid seeds. It also boasts of having state of the art RandD centers which are aimed at creating food resources for India and the world through higher yields, safer produce and Zero-Residue Agriculture®. The Company also pioneered a concept of Zero Residue Agriculture® which exhorts farmers to shun chemical pesticides and minimize fertilizer requirements, thereby, protecting environment and enhancing productivity.
The Company was one among the 35 Indian companies to be selected in the Forbes list of best 200 companies under a billion in Asia. It was also recognized by Deloitte Technology Fast50 India 2011 Program as a leading technology company for the 4th year in succession.
CORPORATE INFORMATION
Subject is in the field of bio technology focused on cultivation of hybrid seeds and manufacture of effective, safe and environmentally friendly natural pest management products for the agricultural markets.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
From Related parties From Related parties |
51.399 |
24.871 |
|
Short-term
borrowings |
|
|
|
From Banks: Farmer Loan - HDFC Bank Limited |
46.363 |
0.000 |
|
From other parties: National Horticultural Board |
8.004 |
8.004 |
|
Total |
105.766 |
32.875 |
|
Note: The Cash credit facilities from HDFC Bank Limited are secured
by exclusive hypothecation of Stocks and Book receivables (Present &
Future) of the Company and further secured by first charge on the Land and
Building situated at Plot No 6 A and B, Phase -4, Industrial Area, Gwalthai,
Dist.: Bilasapur, Himachal Pradesh. |
||
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10323640 |
08/02/2013 * |
360,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B70721790 |
* Date of charge modification
STATEMENT OF
AUDITED RESULT FOR THE QUARTER AND YEAR ENDED 31ST MARCH, 2014
(Rs. In Millions)
|
Sr. No. |
Particular |
Quarter Ended |
Year
Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
Unaudited |
Unaudited |
Audited |
|
1 |
Income from
Operations |
|
|
|
|
|
a) Net Sales / Income from Operations (Net of Excise Duty) |
391.098 |
438.836 |
1456.278 |
|
|
b) Other Operating Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income
from Operations (Net) |
391.098 |
438.836 |
1456.278 |
|
2 |
Expenses |
|
|
|
|
a) Cost of materials consumed |
45.267 |
88.740 |
213.152 |
|
|
|
b) Purchase of Stock in trade |
229.828 |
67.346 |
486.683 |
|
|
c) Changes in Inventories of Finished Goods, Work-in-progress and
Stock-in-Trade |
(105.049) |
68.547 |
(29.173) |
|
|
d) Employee Benefits Expense |
25.577 |
23.129 |
85.676 |
|
|
e) Depreciation and Amortisation Expense |
13.458 |
12.770 |
51.130 |
|
|
f) Other Expenses |
|
|
|
|
|
|
11.165 |
14.508 |
41.059 |
|
|
|
39.116 |
49.051 |
193.116 |
|
|
|
52.201 |
79.839 |
218.945 |
|
|
Total Expenses |
312.563 |
403.930 |
1260.588 |
|
3 |
Profit / (Loss)
from Operations before Other Income, Finance Cost and Exceptional Items (1-2) |
78.353 |
34.906 |
195.690 |
|
4 |
Other Income |
0.425 |
0.511 |
5.328 |
|
5 |
Profit / (Loss) before
Finance Cost and Exceptional Items (3+4) |
78.962 |
35.417 |
201.018 |
|
6 |
Finance Costs |
2.142 |
9.023 |
38.686 |
|
7 |
Profit / (Loss)
after Finance cost but before Exceptional Items (5-6) |
66.820 |
26.394 |
162.332 |
|
8 |
Exceptional Items |
0.000 |
0.000 |
35.630 |
|
9 |
Profit / (Loss)
before Tax (7+8) |
66.820 |
26.394 |
126.702 |
|
10 |
Tax Expense |
(14.766) |
2.156 |
(6.010) |
|
11 |
Net Profit /
(Loss) after Tax (9-10) |
81.586 |
24.238 |
132.712 |
|
12 |
Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13 |
Net Profit /
(Loss) for the Period (11-12) |
81.586 |
24.238 |
132.712 |
|
14 |
Paid Up Equity Share Capital (Face Value of the share – Rs. 10/- each) |
252.255 |
252.255 |
252.255 |
|
15 |
Reserves excluding Revaluation Reserve as per balance sheet of
previous accounting year |
-- |
-- |
-- |
|
16 |
Earnings Per Share (EPS) (in Rs.) |
|
|
|
|
|
a) Basic |
3.23 |
0.96 |
5.65 |
|
|
b) Diluted |
2.72 |
0.87 |
4.72 |
|
Sr. No. |
Particular |
Quarter Ended |
Year
Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
Unaudited |
Unaudited |
Audited |
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public
Shareholding |
|
|
|
|
|
- Number of Shares |
18586913 |
18586913 |
18586913 |
|
|
- Percentage of Shareholding |
73.68 |
73.68 |
73.68 |
|
2 |
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a) Pledged /
Encumbered |
|
|
|
|
|
- Number of Shares |
-- |
-- |
-- |
|
|
- Percentage of Shares (as a % of
total shareholding of promoter and promoter group) |
-- |
-- |
-- |
|
|
- Percentage of Shares (as a %
of total share Capital of the Company) |
-- |
-- |
-- |
|
|
b) Non-Encumbered |
|
|
|
|
|
- Number of Shares |
6638600 |
6638600 |
6638600 |
|
|
- Percentage of Shares (as a %
of total shareholding of promoter and promoter group) |
100 |
100 |
100 |
|
|
- Percentage of Shares (as a %
of total share Capital of the Company) |
26.32 |
26.32 |
26.32 |
INVESTOR
COMPLAINTS
|
PARTICULARS |
QUARTER
ENDED 31.03.2014 |
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
1 |
|
disposed off during the quarter |
1 |
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENTWISE REVENUE, RESULTS AND CAPITAL EMPLOYED
UNDER CLAUSE 41 OF LISTING AGREEMENT
(Rs.
In Millions)
|
Sr.
No. |
Particulars |
Quarter
Ended |
Year
Ended |
|
|
|
|
31.03.2014 |
31.12.2013 |
31.03.2014 |
|
|
|
Unaudited |
Unaudited |
Audited |
|
1 |
Segment Revenue |
|
|
|
|
|
Seeds |
315.933 |
298.357 |
1026.012 |
|
|
Agribiotech Products |
75.65 |
140.479 |
430.266 |
|
|
Other |
0.000 |
0.000 |
0.000 |
|
|
Total |
391.098 |
438.836 |
1456.278 |
|
|
Less: Intersegment revenue |
0.000 |
0.000 |
0.000 |
|
|
Net sales/income from operation |
391.098 |
438.836 |
1456.278 |
|
|
|
|
|
|
|
2 |
Segment Result |
|
|
|
|
|
Seeds |
93.721 |
24.006 |
146.108 |
|
|
Agribiotech Products |
(14.759) |
11.411 |
19.280 |
|
|
Total |
78.962 |
35.417 |
165.388 |
|
|
Less: Other Income- Non operating and unallocated expenses |
0.000 |
0.000 |
0.000 |
|
|
Less: Financial cost |
12.142 |
9.023 |
38.686 |
|
|
Total profit before tax |
66.820 |
26.394 |
126.702 |
|
|
|
|
|
|
|
3 |
Capital Employed (Segment Assets- Segment Liabilities) |
|
|
|
|
|
Seeds |
1290.854 |
1244.737 |
1290.854 |
|
|
Agribiotech Products |
853.373 |
765.469 |
863.373 |
|
|
Other |
115.469 |
166.993 |
115.459 |
|
|
Total |
2269.696 |
2177.199 |
2269.969 |
STATEMENT OF ASSETS
AND LIABILITIES AS AT 31.03.2014
(Rs. In Millions)
|
SOURCES
OF FUNDS |
31.03.2014 |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
252.255 |
|
(b) Reserves & Surplus |
1786.338 |
|
(c) Money received against
share warrants |
231.104 |
|
|
0.000 |
|
(2) Share Application money
pending allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
2269.697 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
119.455 |
|
(b) Deferred tax liabilities
(Net) |
19.174 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term provisions |
5.303 |
|
Total
Non-current Liabilities (3) |
143.932 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
251.238 |
|
(b) Trade payables |
35.185 |
|
(c) Other current liabilities |
88.376 |
|
(d) Short-term provisions |
35.133 |
|
Total
Current Liabilities (4) |
409.932 |
|
|
|
|
TOTAL |
2823.561 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
775.468 |
|
(ii) Intangible Assets |
320.569 |
|
(iii) Capital work-in-progress |
0.099 |
|
(iv) Intangible assets under
development |
0.000 |
|
(b) Non-current Investments |
0.083 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
0.967 |
|
(e) Other Non-current assets |
388.178 |
|
Total
Non-Current Assets |
1485.364 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
399.767 |
|
(c) Trade receivables |
840.144 |
|
(d) Cash and cash equivalents |
19.183 |
|
(e) Short-term loans and
advances |
79.103 |
|
(f) Other current assets |
0.000 |
|
Total
Current Assets |
1338.197 |
|
|
|
|
TOTAL |
2823.561 |
NOTE:
- The above financial result were reviewed and recommended by the audit committee and have been approved by the board of director at their meeting held May 28, 2014.
- The company has opted to publish only audited standalone financial result. The audited consolidated financial result for the quarter and year ended March 31, 2014 of the company will be website of the company BSE Limited and BgSE.
- The nature of the companies business being related to agriculture and the composition of income varying due to the underlying environment and market conditions, the result the company quarter on can vary significantly and are therefore not comparable.
- The company operate in two segments i e seeds and agribiotech products.
- Result for the last quarter are the figure between the audited figures for the results published for the third quarter ended December 2013. Also the figures up to the end of the third quarter were only reviewed and not subject of audit.
- Figure for the previous year have been regrouped/rearranged wherever necessary.
FIXED ASSETS
Tangible Assets
- Land
- Building
- Plant and Machinery
- Office Equipment
- Computer
- Furniture and Fixture
- Vehicles
Intangible Assets
- Software
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.59.33 |
|
|
1 |
Rs.99.42 |
|
Euro |
1 |
Rs.80.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
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 |
|
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.