MIRA INFORM REPORT
|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
LMJ INTERNATIONAL LIMITED |
|
|
|
|
Registered
Office : |
15-B, Hemanta Basu Sarani, 5ht Floor, Kolkata – 700 001, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.11.1992 |
|
|
|
|
Com. Reg. No.: |
21-056951 |
|
|
|
|
Paid-up Capital
: |
Rs.160.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51226WB1992PLC056951 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Traders and Exporters of Tea, Coffee, Rice, Tea Bags, Jute Bags, Yeast
Fenugreek, Chick Peas, Sesean Seeds, Sugar and Fenu Greek |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Management of the company has failed to file its latest financials of
2013 with government department. Mr. Vikas Saraf, Chartered Accountant provided us the financials for
the year 2012 and 2013. As per available financials, overall financials of the company is
decent. However, trade relations are reported to be fair. Business is active.
Payments are reported to be usually correct. The company can be considered normal for business dealing 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in matters
where it decides to carry out detailed investigations. The number of complaints
received by the watchdog which keeps tabs on unfair trade practices in the
marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based limits=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits=A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
March, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vikas Saraf |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-9331289127 |
|
Date : |
08.03.2014 |
LOCATIONS
|
Registered Office : |
15-B, Hemanta Basu Sarani, 5ht Floor, Kolkata – 700001, West |
|
Tel. No.: |
91-33-39839999 / 22310950 |
|
Mobile No.: |
91-9331289127 (Mr. Vikas Saraf) |
|
Fax No.: |
91-33-39839900 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Suresh Kumar Jain |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
26B, Camac Steet, Kolkata – 700016, West Bengal, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.04.1960 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
09.01.2013 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No: |
ACKPJ7702Q |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00177788 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Lalit Tilakraj Bhasin |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
10/38, Hailey Road, 10th Floor, Dakshineshwar Building, New
Delhi – 110001, Delhi, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.01.1939 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2010 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No: |
AADPB9629D |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00001607 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Basudev Chandra Mallik |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
58, Munirka Enclave, New Delhi – 110067, Delhi, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.02.1945 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
15.10.2007 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No: |
ADMPM2569C |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01605906 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Akhilesh Shukla |
|
Designation : |
Secretary |
|
Address : |
14, Madho Babu Lane, Ghusuri, Howrah-711107, West Bengal, India |
|
Date of Birth/Age : |
26.06.1985 |
|
Date of Appointment : |
31.03.2011 |
|
PAN No.: |
BCSPS1004B |
MAJOR SHAREHOLDERS
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Suresh Kumar Jain |
3424080 |
21.40 |
|
Suresh Kumar Jain (HUF) |
1480000 |
9.25 |
|
Siddharth Jain |
2137850 |
13.36 |
|
Jayant Kumar Jain |
1605300 |
10.03 |
|
Navin Kumar Jain |
1926800 |
12.04 |
|
Sunita Jain |
1042600 |
6.52 |
|
Hulash Chand Jain |
1865870 |
11.66 |
|
Ekta Jain |
894000 |
5.59 |
|
Nilima Jain |
744000 |
4.65 |
|
Shalini Jain |
686000 |
4.29 |
|
LMJ Services Limited |
89000 |
0.56 |
|
LMJ Overseas Limited |
12000 |
0.08 |
|
LMJ Distributors Private Limited |
7000 |
0.04 |
|
LMJ Commercial Private Limited |
5500 |
0.03 |
|
Veerprabhu Marketing Limited |
80000 |
0.50 |
|
|
|
|
|
TOTAL |
16000000 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
1.21 |
|
Directors or relatives of Directors |
98.79 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders and Exporters of Tea, Coffee, Rice, Tea Bags, Jute Bags, Yeast
Fenugreek, Chick Peas, Sesean Seeds, Sugar and Fenu Greek |
||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
·
Standard Chartered Bank, 19, Netaji Subhas Road,
Kolkata-700001, West Bengal, India ·
UCO Bank, International Branch, 4 and 4/1, Red
Cross Lance, Kolkata-700001, West Bengal, India ·
Indian Overseas Bank, F47, Malhotra Building,
Janpath, New Delhi – 110001, India ·
Canara Bank, Chowringhee Branch, 7, Kyd Street,
Kolkata – 700016, West Bengal, India ·
Syndicate Bank, Camac Street Branch, 26,
Shakespeare Sarani, Kolkata – 700017, West Bengal, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. K. Mitra and Associates Chartered Accountant |
|
Address : |
178A, |
|
Tel. No.: |
91-33-24611006 |
|
Mobile No.: |
91-9830087692 |
|
PAN No.: |
ADSPM8838P |
|
|
|
|
Subsidiaries : |
Unicorp FZE, Dubai , UAE |
|
|
|
|
Associates : |
·
LMJ Logistics Limited ·
LMJ Services Limited ·
Veerprabhu Marketing Limited ·
Bengal Food Park Limited ·
Internet Valley Limited ·
LMJ Business Centre Private Limited ·
LMJ Commercial Private Limited ·
LMJ Distributors Private Limited ·
LMJ Overseas Limited ·
LMJ Projects Private Limited ·
LMJ Technologies Private Limited ·
LMJ Warehousing Private Limited ·
LMJ Shipping Private Limited ·
Tamilnadu Mega Food Park Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
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 |
|
|
|
|
|
|
16000000 |
Equity Shares |
Rs.10/- each |
Rs.160.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
160.000 |
160.000 |
|
(b) Reserves & Surplus |
|
920.087 |
825.695 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1080.087 |
985.695 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
61.451 |
86.126 |
|
(b) Deferred tax liabilities (Net) |
|
5.437 |
6.582 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
10.225 |
9.210 |
|
Total Non-current
Liabilities (3) |
|
77.113 |
101.918 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1621.289 |
1631.655 |
|
(b) Trade
payables |
|
1080.682 |
215.229 |
|
(c) Other
current liabilities |
|
222.333 |
203.117 |
|
(d) Short-term
provisions |
|
0.368 |
0.000 |
|
Total Current
Liabilities (4) |
|
2924.672 |
2050.001 |
|
|
|
|
|
|
TOTAL |
|
4081.872 |
3137.614 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
416.159 |
442.879 |
|
(ii)
Intangible Assets |
|
0.556 |
0.914 |
|
(iii)
Capital work-in-progress |
|
0.000 |
24.480 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
71.490 |
23.990 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
10.069 |
9.160 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
498.274 |
501.423 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1720.345 |
1018.877 |
|
(c) Trade
receivables |
|
838.101 |
638.999 |
|
(d) Cash
and cash equivalents |
|
299.132 |
253.896 |
|
(e)
Short-term loans and advances |
|
701.019 |
684.419 |
|
(f) Other
current assets |
|
25.001 |
40.000 |
|
Total
Current Assets |
|
3583.598 |
2636.191 |
|
|
|
|
|
|
TOTAL |
|
4081.872 |
3137.614 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
160.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
696.900 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
856.900 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1954.535 |
|
|
2] Unsecured Loans |
|
|
10.886 |
|
|
TOTAL BORROWING |
|
|
1965.421 |
|
|
DEFERRED TAX LIABILITIES |
|
|
20.240 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2842.561 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
423.129 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
23.891 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1578.663
|
|
|
Sundry Debtors |
|
|
2563.285
|
|
|
Cash & Bank Balances |
|
|
540.113
|
|
|
Other Current Assets |
|
|
60.072
|
|
|
Loans & Advances |
|
|
306.184
|
|
Total
Current Assets |
|
|
5048.317
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2276.856
|
|
|
Other Current Liabilities |
|
|
368.122
|
|
|
Provisions |
|
|
7.798
|
|
Total
Current Liabilities |
|
|
2652.776
|
|
|
Net Current Assets |
|
|
2395.541
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2842.561 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11930.277 |
11391.163 |
11909.476 |
|
|
|
Other Income |
37.051 |
27.855 |
53.251 |
|
|
|
TOTAL (A) |
11967.328 |
11419.018 |
11962.727 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
11722.140 |
9594.359 |
0.000 |
|
|
|
Other expenses |
508.988 |
745.910 |
0.000 |
|
|
|
Consumption materials changes inventories |
(701.468) |
559.786 |
10651.310 |
|
|
|
Manufacturing service costs |
0.000 |
0.000 |
39.437 |
|
|
|
Employee related expenses |
24.268 |
45.011 |
43.132 |
|
|
|
Administrative selling other expenses |
0.000 |
0.000 |
946.052 |
|
|
|
Prior period items |
0.000 |
0.000 |
0.876 |
|
|
|
TOTAL (B) |
11553.928 |
10945.066 |
11680.807 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
413.400 |
473.952 |
281.920 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
247.296 |
325.917 |
141.293 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
166.104 |
148.035 |
140.627 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.632 |
26.670 |
21.205 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
136.472 |
121.365 |
119.422 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.498 |
(7.429) |
9.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
130.974 |
128.794 |
110.298 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
203.664 |
192.023 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
10.000 |
|
|
|
Loan Redemption Reserve |
|
|
70.000 |
|
|
|
Interim Dividend |
|
|
18.657 |
|
|
|
Corporate Dividend Tax |
|
|
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
203.664 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
|
7307.176 |
|
|
TOTAL EARNINGS |
NA |
NA |
7307.176 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
|
|
5730.334 |
|
|
TOTAL IMPORTS |
NA |
NA |
5730.334 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
8.19 |
8.05 |
6.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.09 |
1.13 |
0.92
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.14 |
1.07 |
1.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.40 |
3.93 |
2.18
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.12 |
0.14
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.56 |
1.74 |
2.29
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23 |
1.29 |
1.90
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
160.000 |
160.000 |
|
Reserves & Surplus |
825.695 |
920.087 |
|
Net
worth |
985.695 |
1080.087 |
|
|
|
|
|
long-term borrowings |
86.126 |
61.451 |
|
Short term borrowings |
1631.655 |
1621.289 |
|
Total
borrowings |
1717.781 |
1682.740 |
|
Debt/Equity
ratio |
1.743 |
1.558 |
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 |
11909.476 |
11391.163 |
11930.277 |
|
|
|
(4.352) |
4.733 |
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
|
11909.476 |
11391.163 |
11930.277 |
|
Profit |
110.298 |
128.794 |
130.974 |
|
|
0.93% |
1.13% |
1.10% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
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 |
NOTE: The Registered Office
of the company has been shifted from 30 Jawahar Lal Nehru Roadsuit No.13A Block
C 2nd Floor, Kolkata – 700016, West Bengal, India to the present address w.e.f
01.04.2008.
LITIGATION
DETAILS:
|
CALCUTTA HIGH COURT Case Status : Pending
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10451277 |
07/08/2013 |
40,000,000.00 |
CANARA
BANK |
CHOWRINGHEE
BRANCH, 7, KYD STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
B85826873 |
|
2 |
10272475 |
19/02/2011 |
800,000,000.00 |
ALLAHABAD
BANK |
SME FINANCE
BRANCH, 3, RED CROSS PLACE,, KOLKATA, WEST BENGAL - 700001, INDIA |
B07975931 |
|
3 |
10231244 |
09/06/2010 |
200,000,000.00 |
UNION
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, M-11, 1ST FLOOR, MIDDLE CIRCLE, CONNAUGHT CIRCUS, NEW DELHI, DELHI
- 110001, INDIA |
A90801341 |
|
4 |
10203454 |
03/03/2010 |
400,000,000.00 |
UCO
BANK |
MID
CORPORATE BRANCH (IBB), 4 & 4/1, RED CROSS PLACE, KOLKATA, WEST BENGAL -
700001, INDIA |
A80052145 |
|
5 |
10135791 |
08/10/2010
* |
4,519,500,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A96666037 |
|
6 |
10107880 |
16/05/2008 |
150,000,000.00 |
EXPORT
IMPORT BANK OF INDIA |
CENTRE
ONE BUILDING, FLOOR - 21, WORLD TRADE CENTRE COMPLEX, MUMBAI, MAHARASHTRA -
400005, INDIA |
A39312087 |
|
7 |
10284078 |
17/03/2008 |
300,000,000.00 |
INDIAN
OVERSEAS BANK |
F47,MALHOTRA
BUILDING, JANPATH, NEW DELHI, DELHI - 110001, INDIA |
A39023106 |
|
8 |
10074586 |
25/09/2007 |
75,300,000.00 |
ALLAHABAD
BANK |
SSI
FINANCE BRANCH, 3, RED CROSS PLACE, KOLKATA, WEST BENGAL - 700001, INDIA |
A26489047 |
|
9 |
10046399 |
12/06/2008
* |
300,000,000.00 |
STANDARD
CHARTERED BANK |
19, N.
S. ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A39512439 |
|
10 |
10041548 |
24/06/2010
* |
750,000,000.00 |
ALLAHABAD
BANK |
SME
FINANCE BRANCH, 3, RED CROSS PLACE,, KOLKATA, WEST BENGAL - 700001, INDIA |
A88943584 |
|
11 |
10029189 |
17/08/2010
* |
4,452,500,000.00 |
BANK
OF BARODA (LEADER) |
INTERNATIONAL
BUSINESS BRANCH, 4, INDIA EXCHANGE |
A93214534 |
|
12 |
90254723 |
18/08/2005 |
12,500,000.00 |
L
& T FINANCE LIMITED |
SHAKESPERIAN
SARANI, CALCUTTA, WEST BENGAL - 700071, INDIA |
- |
|
13 |
90252984 |
13/06/2005 |
50,000,000.00 |
KOTAK
MAHINDRA BANK LIMITED |
36-38;
NARIMAN BHAVAN, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
14 |
90254177 |
29/01/2003 |
80,000,000.00 |
CANARA
BANK |
CHOWRINGHEE
BRANCH, 7; KYD ROAD, CALCUTTA, WEST BENGAL - 700016, INDIA |
- |
|
15 |
90253911 |
11/10/2010
* |
852,800,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, KOLKATA, 24, PARK STREET, KOLKATA, WEST BENGAL - 700016, INDIA |
A99840035 |
|
16 |
90253910 |
03/10/1999 |
195,000,000.00 |
STATE
BANK OF INDIA |
24
PARK STREET, COMMERCIAL BRANCH, KOLKATA, WEST |
- |
* Date of charge modification
FIXED ASSETS:
·
Leasehold land
·
Freehold land
·
Non factory building
·
Factory building
·
Plant and machinery
·
Computer and computer accessories
·
Furniture and fixture
·
Motor vehicle
·
Computer 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.61.20 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
47 |
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.