MIRA INFORM REPORT
|
Report Date : |
03.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
RASOYA PROTEINS LIMITED |
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Registered
Office : |
Village Wanjari, Taluka Wani, Yavatmal – 445004, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
06.05.1992 |
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Com. Reg. No.: |
11-066662 |
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Capital
Investment / Paid-up Capital : |
Rs.1708.932 Millions |
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CIN No.: [Company Identification
No.] |
L15143MH1992PLC066662 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPR01697D |
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PAN No.: [Permanent Account No.] |
AABCM1757C |
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Legal Form : |
A Public Limited Liability Company. The Company’s Share are Listed on the
Stock Exchange. |
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Line of Business
: |
The company is primarily engaged in the business of soya processing through soya solvent extraction plant and oil refinery along with lecithin plant. The company is also engaged in the business of generation of Power having production capacity of 10 MW. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company is progressing well. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. 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 |
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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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB- (Revised from BB+): Long Term Bank
Facilities |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
March 14, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Revised from A4): Short Term Bank
Facilities |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
March 14, 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 DENIED
Management Non Co-Operative
LOCATIONS
|
Registered Office/(Unit – I) : |
Village Wanjari, Taluka Wani, Yavatmal – 445004, Maharashtra, India |
|
Tel. No.: |
91-7239-225901 / 225902/ 225903 / 5904 |
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E-Mail : |
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Website: |
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Head Office : |
Rasoya House, Plot No. 20/21 – Kheta Layout, Near New Sneh Nagar,
Nagpur – 440025, Maharashtra, India |
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|
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Works (Unit – II) |
Nh. No. 6 MSEB Sub Station, Village Kund, Taluka – Malkapur, District-
Buldhana – 443101, Maharashtra, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. A.N. Lonkar |
|
Designation : |
Managing Director |
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Name : |
Mr. P.G. Duchakke |
|
Designation : |
Executive Director |
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|
Name : |
Mr. A.K. Singh |
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Designation : |
Executive Director |
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|
Name : |
Mr. Sameer Y. Damle |
|
Designation : |
Executive Director |
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|
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Name : |
Mr. V.D.Bhagade |
|
Designation : |
Independent and Non Executive Director |
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|
Name : |
Mr. S.R. Khankhoje |
|
Designation : |
Independent and Non Executive Director |
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|
Name : |
Mr. A.N. Deshpande |
|
Designation : |
Independent and Non Executive Director |
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Name : |
Mr. P.D. Mujumdar |
|
Designation : |
Independent and Non Executive Director |
SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
362550870 |
28.95 |
|
|
178907100 |
14.29 |
|
|
541457970 |
43.24 |
|
|
|
|
|
Total shareholding
of Promoter and Promoter Group (A) |
541457970 |
43.24 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
22717 |
0.00 |
|
|
20 |
0.00 |
|
|
68117723 |
5.44 |
|
|
68140460 |
5.44 |
|
|
|
|
|
|
510056104 |
40.73 |
|
|
|
|
|
|
8694609 |
0.69 |
|
|
105081960 |
8.39 |
|
|
18786057 |
1.50 |
|
|
18786057 |
1.50 |
|
|
642618730 |
51.32 |
|
Total Public
shareholding (B) |
710759190 |
56.76 |
|
Total (A)+(B) |
1252217160 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
456714540 |
0.00 |
|
|
456714540 |
0.00 |
|
Total (A)+(B)+(C) |
1708931700 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
The
company is primarily engaged in the business of soya processing through soya solvent
extraction plant and oil refinery along with lecithin plant. The company is
also engaged in the business of generation of Power having production
capacity of 10 MW. |
PRODUCTION STATUS AS ON 31.03.2012
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Crushing Of Soya Seeds |
|
NA |
570000 MT |
287809.627 |
|
Power |
|
79200 MW |
79200 MW |
50009 MW |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
State bank of India, IFB Bharat Nagar, Nagpur,
Maharashtra, India ·
I.D.B.I Wani Branch, Wani, Maharashtra, India ·
I.D.B.I Dharampeth Branch, Nagpur, Maharashtra,
India ·
Bank of India Corporate Banking Branch, Nagpur,
Maharashtra, India ·
Bank of Baroda, Pratap Nagar Branch, Nagpur,
Maharashtra, India ·
Karur Vysya Bank, Central Avenue Branch, Nagpur,
Maharashtra, India ·
Vijaya Bank, Trimurtinagar Branch, Nagpur,
Maharashtra, India |
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Facilities : |
NOTES: Long Term
Borrowings: a)
The Term Loans are
secured by first pari-passu charge among the term lenders on the Fixed Assets of the company both present and future
belonging to the Solvent Plant Wani, Solvent Plant Malkapur and Power Plant
Wani and second pari passu charge on the current assets of the aforesaid plant. The said
charge is created on behalf of
the Term Lenders in favor of SBI CAP Trustee Company Limited, Mumbai as
security trustee. Further these Term Loans are secured by personal guarantee
of Managing Director of the Company b)
The Vehicle loans are secured by the hypothecation of Vehicles. c)
Term loan from Banks
carry rate of Interest from 12.50% to 14.50%. d)
Maturity profile
of term Loans are set out
as below.
Short Term Borrowings: a)
The Working Capital loan are secured by way of
first pari-passu charge among the working capital Lenders on the current assets of the company
both present and future belonging
to the Solvent Plant Wani, Solvent Plant Malkapur and Power Plant
Wani and second
pari-passu charges on entire Fixed assets
of the aforesaid plants
of the Company, The said
charge is created on behalf of the
Working capital lenders in favor
of SBI CAP Trustee Company Limited, Mumbai as security trustee. Further these working capital loans are
secured by personal guarantee of Managing Director of the Company. b)
The Warehouse loan is secured by way of pledge of Warehouse Receipts issued by State
Warehousing Corporation, Central Warehousing Corporation and Collateral
Manager, covering Soya Seeds lying in the Warehouse from time to time. |
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Banking
Relations : |
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Auditors : |
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|
Name : |
V.N. Bhuwania and Company Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
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Associate Companies : |
·
Ivory Exports Private Limited ·
Rasoya Foods and Drinks Private Limited ·
Eiravat Tradelink Private Limited |
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|
|
|
Subsidiary Companies : |
·
RPL Trade International (FZE) |
CAPITAL STRUCTURE
AS ON 31.03.2013
a)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1710000000 |
Equity Shares |
Re.1/- each |
Rs.1710.000 Millions |
|
|
|
|
|
b)
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1708931700 |
Equity Shares |
Re.1/- each |
Rs.1708.932 Millions |
|
|
|
|
|
c)
Reconciliation of share capital
|
Particulars |
Number
of Shares |
|
No. of shares at the
beginning of the year (face value Rs.5/- each) |
107528780 |
|
Add: Conversion of warrants into Equity (face
value Rs.5/- each) |
6400000 |
|
Total |
113928780 |
|
Shares split from one share of Rs.10/- each into two shares of Rs.5/-
each on
22nd June, 2011 |
-- |
|
Shares split from one share of Rs.5/- each
into five shares of Re.1/- each
on 22nd March, 2013 |
569643900 |
|
Add: Conversion of warrants into Equity (face value Rs.5/-
each) |
-- |
|
Allotment of
Bonus Shares (2 Equity Shares of
Re.1/- each for every 1 Equity Shares of Re.1/- each
on 23rd March, 2013 |
1139287800 |
|
No. of shares at the end of the
year (face value Re.1/- each) (previous year face value
Rs.5/- each) |
1708931700 |
d)
36391420 shares (then face value of Rs.10/- each) and 20000000 shares (then face value of Rs.5/- each) equivalent to 463914200 shares of 7 I/- each face value, out of issue, Subscribed
and paid up share capital were
allotted in the last five years on exercise of warrants, against GDR issue, since inception [36391420 shares (then face value of Rs.10/-
each) and 13600000 shares (then face value of Rs.5/-
each) equivalent to 195557100
shares of 35/- each face
value, out of issue, Subscribed and paid up share capital were allotted in the
last five years on exercise of warrants, against GDR issue, since inception]
e)
Details of equity shares held by shareholders
holding more than 5% shares:
|
Name of Shareholder |
Number of Shares |
% holding |
|
R4CA Trading Company Private Limited |
138450000 |
8.10% |
|
SBM Trading Company Private Limited |
148500000 |
8.68% |
|
PVK Trading Company Private
Limited |
131325000 |
7.68% |
|
Ivory Exports Private Limited |
160194780 |
9.37% |
|
Anil Narayzm Lonkar |
154834770 |
9.06% |
|
Manik Anil Lonkar |
100181100 |
5.86% |
f)
During the year the
company has allotted 64,00,000 equity
shares upon conversion of equity
share warrants issued to promoters on preferential basis on 30thApril,2012.
g)
The members of the company in the Extraordinary
general meeting held on 11th March, 2013 approved the
Split in the Face Value of the Equity Shares of the Company in the
ratio 5:1 i.e. 5 (Five) Equity Shares of Re.1/- (Rupees One Only) each for every 1
(One) Equity Share of Rs.5/- each and accordingly the Record Date was fixed as March, 22,2Q
13 for the said sub division.
h)
The members of the company in the Extraordinary general meeting
held on 11th March, 20 13 has
approved Bonus Shares in
the proportion of 2 (Two) new Equity
Shares of the company of Re.1/-
(Re. One) each for every 1 (One) existing Equity Shares of
Re.1/- (Rs. One) each held by
the shareholders an record date (22nd
March 2013) by capitalizing its past profit and Free Reserves.
i)
The members of the
company in the Extraordinary general meeting
held on 11th March, 2013 has approved increase in authotised capital of the company h m 7 700000000 (Seventy
Crore only) divided into 140000000 equity share of Rs.5/- each to Rs. 1710000000 (One hundred and seventy one crores only) divided into 342000000 equity share of
Rs.5/- each
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 |
1708.932 |
537.644 |
411.644 |
|
(b) Reserves & Surplus |
1508.117 |
2357.680 |
1845.773 |
|
(c) Money
received against share warrants |
0.000 |
115.200 |
302.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
3217.049 |
3010.524 |
2559.417 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
968.320 |
807.251 |
764.142 |
|
(b) Deferred tax liabilities (Net) |
71.045 |
103.736 |
45.378 |
|
(c) Other long term
liabilities |
35.867 |
101.693 |
73.162 |
|
(d) long-term
provisions |
50.256 |
5.145 |
4.160 |
|
Total Non-current
Liabilities (3) |
1125.488 |
1017.825 |
886.842 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1590.866 |
1105.461 |
738.131 |
|
(b) Trade
payables |
1206.666 |
1165.888 |
917.130 |
|
(c) Other
current liabilities |
141.294 |
71.454 |
82.549 |
|
(d) Short-term
provisions |
48.141 |
50.218 |
41.269 |
|
Total Current
Liabilities (4) |
2986.967 |
2393.021 |
1779.079 |
|
|
|
|
|
|
TOTAL |
7329.504 |
6421.370 |
5225.338 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2171.383 |
1561.447 |
776.518 |
|
(ii)
Intangible Assets |
0.881 |
1.452 |
1.740 |
|
(iii)
Capital work-in-progress |
1.553 |
368.113 |
716.484 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.963 |
1.958 |
1.949 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1205.910 |
1185.377 |
47.198 |
|
(e) Other
Non-current assets |
103.655 |
134.694 |
25.350 |
|
Total Non-Current
Assets |
3485.345 |
3253.041 |
1569.239 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1814.358 |
2380.798 |
1893.925 |
|
(c) Trade
receivables |
1217.352 |
201.837 |
251.486 |
|
(d) Cash and
cash equivalents |
156.596 |
460.711 |
1449.243 |
|
(e)
Short-term loans and advances |
499.637 |
62.957 |
61.171 |
|
(f) Other
current assets |
156.216 |
62.026 |
0.274 |
|
Total
Current Assets |
3844.159 |
3168.329 |
3656.099 |
|
|
|
|
|
|
TOTAL |
7329.504 |
6421.370 |
5225.338 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9463.590 |
7982.543 |
4169.022 |
|
|
|
Other Income |
74.521 |
108.553 |
4.313 |
|
|
|
TOTAL (A) |
9538.111 |
8091.096 |
4173.335 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
8135.658 |
7164.232 |
3649.648 |
|
|
|
Change in inventories |
130.446 |
(237.887) |
(111.140) |
|
|
|
Employee benefit expense |
75.662 |
57.423 |
27.370 |
|
|
|
Other Expense |
613.548 |
553.002 |
352.409 |
|
|
|
TOTAL (B) |
8955.314 |
7536.770 |
3918.287 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
582.797 |
554.326 |
255.048 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
281.118 |
254.032 |
109.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
301.679 |
300.294 |
145.509 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
84.143 |
64.691 |
39.969 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
217.536 |
235.603 |
105.540 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
10.832 |
68.073 |
34.103 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
206.704 |
167.530 |
71.437 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
452.847 |
83.248 |
23.490 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
0.35 |
1.79 |
3.24 |
|
|
|
Diluted |
0.35 |
1.68 |
2.87 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net sales |
1778.800 |
2001.900 |
4614.100 |
|
Total Expenditure |
1577.400 |
1836.000 |
4308.700 |
|
PBIDT (Excluding Other Income) |
201.400 |
165.900 |
305.500 |
|
Other income |
4.100 |
4.600 |
8.700 |
|
Operating Profit |
205.500 |
170.500 |
314.200 |
|
Interest |
105.500 |
95.500 |
115.300 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
100.500 |
75.000 |
198.900 |
|
Depreciation |
27.600 |
25.300 |
29.400 |
|
Profit Before Tax |
72.900 |
49.700 |
169.500 |
|
Tax |
13.700 |
14.300 |
44.300 |
|
Profit after tax |
59.200 |
35.400 |
125.100 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
59.200 |
35.400 |
12.5.100 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.17
|
2.07 |
1.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.30
|
2.95 |
2.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97
|
3.89 |
2.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.80
|
0.64 |
0.59 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.29
|
1.32 |
2.06 |
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 |
411.644 |
537.644 |
1,708.932 |
|
Reserves & Surplus |
1,845.773 |
2,357.680 |
1,508.117 |
|
Net
worth |
2,257.417 |
2,895.324 |
3,217.049 |
|
|
|
|
|
|
long-term borrowings |
764.142 |
807.251 |
968.320 |
|
Short term borrowings |
738.131 |
1,105.461 |
1,590.866 |
|
Total
borrowings |
1,502.273 |
1,912.712 |
2,559.186 |
|
Debt/Equity
ratio |
0.665 |
0.661 |
0.796 |
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 |
4,169.022 |
7,982.543 |
9,463.590 |
|
|
|
91.473 |
18.554 |
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 |
4,169.022 |
7,982.543 |
9,463.590 |
|
Profit |
71.437 |
167.530 |
206.704 |
|
|
1.71% |
2.10% |
2.18% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
---------- |
|
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 |
No |
|
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 |
UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short Term
Borrowings |
|
|
|
From banks |
150.000 |
150.000 |
|
|
|
|
|
Total |
150.000 |
150.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10453836 |
19/09/2013 |
30,000,000.00 |
BANK
OF BARODA |
PRATAPNAGAR
BRANCH, RING ROAD, TRIMURTI NAGAR, NAGPUR, MAHARASHTRA - 440022, INDIA |
B87030615 |
|
2 |
10424119 |
26/03/2013 |
220,000,000.00 |
VIJAYA
BANK |
GIRIJA
20 PADOLE LAYOUT,NEAR SWAWLAMBI NAGAR, SQUARE, TRIMURTI NAGAR ROAD, NAGPUR,
MAHARASHTRA - 440022, INDIA |
B74564220 |
|
3 |
10425913 |
19/03/2013 |
259,400,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
B75195933 |
|
4 |
10415999 |
12/03/2013 |
80,000,000.00 |
KARUR
VYSYA BANK LIMITED |
NAGPUR
BRANCH, 740, DALMIA SADAN, SEVA SADAN SQUARE, CENTRAL AVENUE ROAD, NAGPUR,
MAHARASHTRA - 440018, INDIA |
B71886246 |
|
5 |
10347462 |
03/10/2013
* |
2,866,400,000.00 |
SBICAP
TRUSTEE COMPANY LIMITED |
202,
MAKER TOWER, 'E', CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B88347182 |
|
6 |
10329160 |
22/12/2011 |
141,300,000.00 |
KARUR
VYSYA BANK LIMITED |
740,
DALMIA SADAN, SEVA SADAN SQUARE, CENTRAL AVENUE ROAD, NAGPUR, MAHARASHTRA - 440018,
INDIA |
B29603750 |
|
7 |
10329170 |
22/12/2011 |
141,300,000.00 |
KARUR
VYSYA BANK LIMITED |
740,
DALMIA SADAN, SEVA SADAN SQUARE, CENTRAL AVENUE ROAD, NAGPUR, MAHARASHTRA -
440018, INDIA |
B29603024 |
|
8 |
10301326 |
29/06/2011 |
437,000,000.00 |
STATE
BANK OF INDIA. |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
B18463703 |
|
9 |
10301080 |
29/06/2011 |
480,000,000.00 |
STATE
BANK OF INDIA. |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
B18381004 |
|
10 |
10292262 |
31/05/2011 |
40,000,000.00 |
BANK
OF INDIA |
NAGPUR
MID CORPORATE BRANCH BANK OF INDIA BUILDING, MEZZANINE FLOOR, S. V. PATEL MARG,
NAGPUR, MAHARASHTRA - 440001, INDIA |
B15025034 |
|
11 |
10288931 |
28/04/2011 |
120,000,000.00 |
THE
KARUR VYSYA BANK LIMITED |
NAGPUR
BRANCH, 740, DALMIA SADAN, SEVA SADAN SQUARE, CENTRAL AVENUE ROAD, NAGPUR,
MAHARASHTRA - 440018, INDIA |
B13755111 |
|
12 |
10279990 |
26/03/2013
* |
170,000,000.00 |
BANK
OF BARODA |
PRATAP
NAGAR BRANCH,, 177, TRIMURTY NAGAR, NAGPUR, MAHARASHTRA - 440022, INDIA |
B74933516 |
|
13 |
10298557 |
04/08/2010 |
120,000,000.00 |
BANK
OF BARODA |
PRATAP
NAGAR BRANCH, 177, TRIMURTY NAGAR, RING ROAD, NAGPUR, MAHARASHTRA - 440022,
INDIA |
B08256190 |
|
14 |
10237144 |
04/08/2010 |
240,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR, MAHARASHTRA
- 440033, INDIA |
A93199545 |
|
15 |
10237143 |
04/08/2010 |
480,000,000.00 |
STATE
BANK OF INDIA. |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
A93198695 |
|
16 |
10236103 |
31/07/2010 |
58,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
A92718840 |
|
17 |
10288784 |
23/06/2010 |
120,000,000.00 |
THE
KARUR VYSYA BANK LIMITED |
NAGPUR
BRANCH, 740, DALMIA SADAN, SEVA SADAN SQUARE. CENTRAL AVENUE ROAD, NAGPUR,
MAHARASHTRA - 440018, INDIA |
B07688815 |
|
18 |
10108180 |
31/07/2010
* |
398,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 5, SAI COMPLEX, BHARATNAGAR, AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
A92719608 |
|
19 |
10114394 |
30/05/2008 |
136,000,000.00 |
BANK
OF INDIA |
NAGPUR
CORPORATE BANKING BRANCH, S.V. PATEL MARG, KINGSWAY, NAGPUR, MAHARASHTRA - 440001,
INDIA |
A42227108 |
|
20 |
10091849 |
18/10/2010
* |
450,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCAL BRANCH, 5, SAI COMPLEX, BHARAT NAGAR, AMRAVATI RAOD, NAGPUR,
MAHARASHTRA - 440033, INDIA |
A98303845 |
|
21 |
10108290 |
17/11/2007 |
108,000,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA LIMITED |
WANI
BRANCH, WANI, WANI, MAHARASHTRA - 445304, INDIA |
A27530518 |
|
22 |
90232311 |
13/02/2007
* |
209,000,000.00 |
STATE
BANK OF INDIA (LEAD BANK) |
INDUSTRIAL
FINANCE BRANCH, 5 SAI COMPLEX, BHARAT NAGAR AMRAVATI ROAD, NAGPUR,
MAHARASHTRA - 440010, INDIA |
A12153888 |
|
23 |
90229409 |
13/11/1996
* |
18,000,000.00 |
THE
UNITED WERSTERN BANK LIMITED |
GANDHI
CHOWK WANI, YAVATMAL, MAHARASHTRA, INDIA |
- |
|
24 |
90231997 |
21/11/1996 |
18,000,000.00 |
UNITED
WESTERN BANK LIMITED |
GANDHI
CHOWK, YAGATMAL, MAHARASHTRA, INDIA |
- |
|
25 |
90229121 |
13/11/1996
* |
27,000,000.00 |
STATE
BANK OF INDIA |
INDL
FINANCE BRANCH, BHARAT NAGAR, NAGPUR, MAHARASHTRA, INDIA |
- |
|
26 |
90228580 |
20/09/1992 |
31,000,000.00 |
IDBI |
IDBI
TOWER, CUFFE PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
* Date of charge modification
PERFORMANCE REVIEW:
During the year subject’s net income from operations
is Rs 9463.600 Millions as
against Rs 7981.400 Millions in the previous year. Profit after
interest but before depreciation
and tax has increased from Rs.300.300 Millions
in year 2011-12 to Rs 301.800 Millions in year 20 12- 13.
BUSINESS
OUTLOOK:
·
Expansion Project:
The directors have
pleasure in informing you that during the year subject has successfully
expanded their new oil repacking division and completed the additional Go-down
for its raw material /Finished Goods.
·
Value Added
Projects:
The Aqua feed
plant started its commercial operation during the last quarter of the financial
year 12- 13. With the starting
of Commercial operation at unit Wani, subject has become one of the major Aqua
Feed processing units in Vidarbha region. In addition to above, subject had
started their other valued added products such as Soya Hi-Pro, Soya Flour etc.
The quality of finished products from the new unit has been well accepted in
the Market within the shortest span of time.
·
Value Added Project under Capex:
As mentioned in last Annual Report regarding the expansion of more business
opportunity, your directors have pleasure in informing subject has undertaken Powder lecithin project which is a
vertical Integration of existing
plant / projects. Which would become commercially operational in the current financial year of 2013-14
and will certainly offer long term economy and will improve the commercial viability of the overall operation of
subject.
UN-AUDITED FINANCIAL
RESULTS FOR THE QUARTER ENDED ON 31ST DECEMBER 2012
(Rs. In Millions)
|
Particular |
Quarter Ended |
Nine Month Ended |
|
|
|
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
|
Unaudited |
Unaudited |
Unaudited |
|
a Sales |
|
|
|
|
Sales (net of returns) |
4576.644 |
1972.378 |
8305.707 |
|
Less Excise duty |
3.025 |
0.829 |
4.508 |
|
(a) Net Sales |
4573.619 |
1971.549 |
3801.199 |
|
(b) Other Operating Income |
40.507 |
36.393 |
84.724 |
|
Total income |
4614.126 |
2001.941 |
8385.923 |
|
2. Expenditure |
|
|
|
|
a. Increase/decrease in stock in trade and work in progress |
(164.148) |
(88.749) |
(41.316) |
|
b. Consumption of raw materials |
4037.302 |
1773.726 |
7394.939 |
|
c. Purchase of traded goods |
0.000 |
0.000 |
0.000 |
|
d. Employees cost |
38.904 |
24.098 |
87.691 |
|
e. Depreciation |
29.410 |
25.329 |
82.322 |
|
f. Other expenditure |
396.598 |
126.939 |
641.810 |
|
g. Total Expenditure |
4338.067 |
1861.344 |
7795.443 |
|
3, Profit from
Operations before Other Income Interest and Exceptional Item( I-2) |
276.060 |
140.597 |
590.480 |
|
4. Other income |
8.675 |
4.555 |
17.308 |
|
5. Profit before
Interest and Exceptional Items (3+4) |
284.735 |
145.152 |
607.789 |
|
6. Interest |
115.275 |
95.450 |
315.748 |
|
7. Profit after Interest but before Exceptional Item (5+6) |
169.461 |
49.702 |
292.040 |
|
8. Exceptional items |
0.000 |
0.000 |
0.000 |
|
9. Profit (+)I Loss
(-) from Ordinary Activities before tax (7+8) |
169.461 |
49.702 |
292.040 |
|
10. Tax expense |
|
|
|
|
Current Tax |
50.838 |
14.910 |
87.612 |
|
Earlier year Tax |
0.000 |
0.000 |
0.000 |
|
Deferred Tax |
(6.515) |
(0.599) |
(15.287) |
|
11. Net Profit
(+)/Loss (-) from Ordinary Activities after tax (9-10) |
125.138 |
35.192 |
219.715 |
|
12. Extraordinary Item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13. Net Profit(+)/ Loss(-) for the period (1 1-12) |
125.138 |
35.192 |
219.715 |
|
14. Share of Profit of Associates |
0.000 |
0.000 |
0.000 |
|
15. Minority interest |
0.000 |
0.000 |
0.000 |
|
16. Net Profit
after taxes, minority interest and share of profit of associates |
125.138 |
35.192 |
219.715 |
|
17. Paid-up equity share capital |
1708.932 |
1708.932 |
1708.932 |
|
18. Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
1508.117 |
1508.117 |
1508.117 |
|
Earnings per share
(face value of Rs. 10/- each) - not annualised |
|
|
|
|
Basic and Diluted EPS (Rs.) |
0.07 |
0.11 |
0.13 |
|
|
|
|
|
|
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
Promoters and
Promoter group shareholding : (a) Pledged /
Encumbered |
|
|
|
|
- Number of shares |
33558844 |
33558844 |
33558844 |
|
- Percentage of shareholding (as a % of the total share holding of
promoter and promoter group) |
6.20% |
6.20% |
6.20% |
|
- Percentage of shareholding (as a % of the total share capital of the
Company) |
1.96% |
1.79% |
1.96% |
|
(b) Non Pledged
/ Non Encumbered |
|
|
|
|
- Number of shares |
507899126 |
507899126 |
507899126 |
|
- Percentage of shareholding (as a % of the total share holding of
promoter and promoter group) |
93.80% |
93.80% |
93.80% |
|
- Percentage of shareholding (as a % of the total share capital of the
Company) |
29.72% |
29.72% |
29.72% |
Notes:
1. The above Financial Results for the quarter ended December 31, 2013 have been reviewed by the Audit Committee and approved by the Board at its meeting held on February 14, 2014.
2. A Limited Review for the quarter ended December 31, 2013 was carried out by
the Statutory auditors of the Company pursuant to listing agreement with the
stock exchange.
3. Provision for Current Tax and Deferred Tax for the quarter ended December
31, 2013 has been made on estimated basis. The actual tax liability of the
Company will be determined on the basis of taxable income of the Company for
the year April 01, 2013 to March 31, 2014.
4. Segment wise revenue, Result and Capital Employed.
|
Sl. No. |
Particulars |
31.12.2013 |
30.09.2013 |
31.12.2013 |
|
1 |
Segment Revenue |
(Unaudited) |
(Unaudited) |
(Unaudited) |
|
|
a Solvent |
4554.603 |
1952.750 |
8252.021 |
|
|
b Power |
70.827 |
57.986 |
171.758 |
|
|
Total |
4525.430 |
2010.736 |
8423.779 |
|
|
Less: Inter Segment Revenue |
51.811 |
39.187 |
122.580 |
|
|
Total Segment Income |
4573.619 |
1971.549 |
8301.199 |
|
|
|
|
|
|
|
2 |
Segment Results |
|
|
|
|
|
Profit/(Loss) before Tax and Interest |
|
|
|
|
|
a Solvent |
318.310 |
141.281 |
635.242 |
|
|
b Power |
(33.575) |
3.871 |
(27.453) |
|
|
Total |
284.735 |
145.152 |
607.789 |
|
|
Less : Interest |
115.275 |
95.450 |
315.748 |
|
|
Total Profit before Tax |
169.461 |
49.702 |
292.040 |
|
|
|
|
|
|
|
3. |
Capital Employed |
|
|
|
|
|
a Solvent |
3108.073 |
2835.602 |
3108.073 |
|
|
b Power |
423.807 |
476.563 |
423.807 |
|
|
Total Capital Employed |
3531.880 |
3312.165 |
3531.880 |
5. Figures for the previous year/quarter have been regrouped as necessary to
confirm to current period classification.
6. Status of inventor for the quarter ended 31st December 2013
|
B |
INVESTOR COMPLAINTS
[Nos.] |
As on 31.12.2013 |
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
2 |
|
|
Disposed of during the quarter |
2 |
|
|
Remaining unresolved at the end of the quarter |
Nil |
FIXED ASSETS:
·
Land and building
·
Plant and machinery
·
Furniture and fixture
·
Computer
·
Vehicles
·
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.23. |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
44 |
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.