MIRA INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN ADHESIVES LIMITED |
|
|
|
|
Registered
Office : |
340/2-A, G. T. Road, Shahdara, New Delhi - 110095 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on)
: |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
05.04.1988 |
|
|
|
|
Com. Reg. No.: |
55-031191 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 51.163 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74899DL1988PLC031191 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH00730C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Self Adhesives
Tapes and BOPP Films. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 530000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 |
|
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 : |
Ms. Suman Trivedi |
|
Designation : |
Account Executive |
|
Contact No.: |
91-120-2674450 |
LOCATIONS
|
Registered Office : |
340/2-A, |
|
Tel. No.: |
91-11-22111379/23719734 / 41650348 / 41650347 / 26714080 |
|
Fax No.: |
91-11-23328210 / 26191358 / 25131098 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
B-2 / 8, Safdarjung Enclave, |
|
Tel. No.: |
91-11-51650347-48, 51650350 / 26714080 |
|
Fax No.: |
91-11-51650349 / 26191358 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
29th Mile Stone, Village Achheja, Tehsil Dadri, District Gautam Budh Nagar, Uttar Pradesh |
|
Tel. No.: |
91-120-2674450 |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 15, K.I.E Industrial Estate, Village - Mundiyaki, Pargana- Manglour, Tehsil Roorkee, District Haridwar- 247 667, Uttarakhand, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Lalit Kumar Bagla |
|
Designation : |
Chairman |
|
Date of Birth/Age : |
25.09.1941 |
|
Qualification : |
Graduate |
|
Experience : |
50 years |
|
Date of Appointment : |
25.04.1988 |
|
Other Directorships
: |
1. Bagla Polifilms Limited 2. Agarwal Tracom Private Limited 3. Alora Trading Company Limited |
|
|
|
|
Name : |
Mr. M. S. Bagla |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
16.03.1963 |
|
Qualification : |
Graduate |
|
Experience : |
32 years |
|
Date of Appointment : |
05.04.1988 |
|
Other Directorships
: |
1. Hindustan Foils Limited 2. BhutnathTradelink Private Limited 3. Agarwal Tracom Private Limited 4. Bagla Polifilms Limited 5. Umesh Commercial Company Limited 6. Alora Trading Company Limited |
|
|
|
|
Name : |
Mr. Dev Prakash Gupta |
|
Designation : |
Director |
|
Date of Birth/Age : |
12.10.1961 |
|
Qualification : |
P.H.D. in Chemical |
|
Experience : |
24 years |
|
Date of Appointment : |
31.10.2011 |
|
|
|
|
Name : |
Mr. K.C. Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pawan Sharma |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Suresh Ajila |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Urmila Goenka |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. S. S. Dua |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Ms. Suman Trivedi |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of
Shareholder |
No. of Shares |
% of No. of
Shares |
|
|
(A) Shareholding of Promoter and Promoter Group |
|||
|
|
|
|
|
|
|
2393329 |
46.78 |
|
|
|
640400 |
12.52 |
|
|
|
3033729 |
59.30 |
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
3033729 |
59.30 |
|
|
(B) Public Shareholding |
|||
|
|
|
|
|
|
|
200 |
0.00 |
|
|
|
200 |
0.00 |
|
|
|
|
|
|
|
|
861723 |
16.84 |
|
|
|
|
|
|
|
|
1036973 |
20.27 |
|
|
|
165506 |
3.23 |
|
|
|
18169 |
0.36 |
|
|
|
10664 |
0.21 |
|
|
|
7405 |
0.14 |
|
|
|
100 |
0.00 |
|
|
|
2082371 |
40.70 |
|
|
Total Public shareholding (B) |
2082571 |
40.70 |
|
|
Total (A)+(B) |
5116300 |
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) |
5116300 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Self Adhesives
Tapes and BOPP Films. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Finished Goods |
||||||||
|
Countries : |
|
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Materials |
||||||||
|
Countries : |
Austria |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C / Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C / Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Salarpuria and Partners Chartered Accountants |
|
Address : |
1008 Chiranjiv Tower, 43, Nehru Place, New Delhi – 110 019, India |
|
|
|
|
Where Control Exist
: |
|
|
|
|
|
Others : |
Surya Consumers Goods Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5116300 |
Equity Shares |
Rs.10/- each |
Rs.51.163
Millions |
|
|
|
|
|
(Out of Which: 1,029,000 Equity share of Rs.10/- each Fully paid up, issued as Bonus Share by Capitalisation of General Reserve)
DETAILS OF
SHAREHOLDER HOLDING 5% OR MORE SHARES:
|
Name of Share
holder |
No. of Shares |
% |
|
Mr. Madhusudan Bagla |
812,419 |
15.88 |
|
Mrs. Anju Bagla |
598,630 |
11.70 |
|
Master Dhruv Bagla |
314,580 |
6.15 |
|
Mr. Nakul Bagla |
372,100 |
7.27 |
|
Mr. M S Bagla-karta (M S Bagla - HUF) |
269,250 |
5.26 |
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 |
|
51.163 |
51.163 |
|
(b) Reserves & Surplus |
|
83.541 |
67.224 |
|
(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) |
|
134.704 |
118.387 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
94.038 |
115.928 |
|
(b) Deferred tax liabilities (Net) |
|
19.996 |
17.440 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
6.684 |
5.562 |
|
Total Non-current
Liabilities (3) |
|
120.718 |
138.930 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
134.356 |
120.914 |
|
(b) Trade
payables |
|
58.285 |
50.504 |
|
(c) Other
current liabilities |
|
14.283 |
12.575 |
|
(d) Short-term
provisions |
|
0.343 |
0.347 |
|
Total Current
Liabilities (4) |
|
207.267 |
184.340 |
|
|
|
|
|
|
TOTAL |
|
462.689 |
441.657 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
226.572 |
227.509 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
11.636 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
5.048 |
5.393 |
|
Total Non-Current
Assets |
|
231.620 |
244.538 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
87.859 |
80.724 |
|
(c) Trade
receivables |
|
114.530 |
90.459 |
|
(d) Cash
and cash equivalents |
|
8.475 |
4.819 |
|
(e)
Short-term loans and advances |
|
13.301 |
14.213 |
|
(f) Other
current assets |
|
6.904 |
6.904 |
|
Total
Current Assets |
|
231.069 |
197.119 |
|
|
|
|
|
|
TOTAL |
|
462.689 |
441.657 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
51.163 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
51.075 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
102.238 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
134.767 |
|
|
2] Unsecured Loans |
|
|
30.613 |
|
|
TOTAL BORROWING |
|
|
165.380 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.400 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
281.018 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
104.583 |
|
|
Capital work-in-progress |
|
|
48.220 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
74.397
|
|
|
Sundry Debtors |
|
|
100.400
|
|
|
Cash & Bank Balances |
|
|
10.703
|
|
|
Other Current Assets |
|
|
6.904
|
|
|
Loans & Advances |
|
|
31.023
|
|
Total
Current Assets |
|
|
223.427
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
64.667
|
|
|
Other Current Liabilities |
|
|
10.099
|
|
|
Provisions |
|
|
20.446
|
|
Total
Current Liabilities |
|
|
95.212
|
|
|
Net Current Assets |
|
|
128.215
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
281.018 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
762.583 |
667.390 |
629.385 |
|
|
|
Other Income |
2.393 |
2.299 |
0.631 |
|
|
|
TOTAL
(A) |
764.976 |
669.689 |
630.016 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
497.638 |
|
|
|
|
|
Purchases of Stock-in-Trade |
0.000 |
10.017 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(3.362) |
(0.401) |
569.718 |
|
|
|
Employees benefits expense |
43.698 |
38.019 |
|
|
|
|
Other expenses |
147.150 |
128.488 |
|
|
|
|
TOTAL (B) |
685.124 |
610.433 |
569.718 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
79.852 |
59.256 |
60.298 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.890 |
21.258 |
18.266 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
45.962 |
37.998 |
42.032 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.883 |
15.312 |
15.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
24.079 |
22.686 |
26.385 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.315 |
6.983 |
8.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
15.764 |
15.703 |
17.720 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
43.017 |
27.314 |
9.594 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
58.781 |
43.017 |
27.314 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export value of FOB basis |
88.358 |
66.416 |
58.050 |
|
|
TOTAL EARNINGS |
88.358 |
66.416 |
58.050 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
147.890 |
83.445 |
69.770 |
|
|
|
Capital Goods |
6.014 |
82.370 |
0.482 |
|
|
|
Others |
3.768 |
2.881 |
0.245 |
|
|
TOTAL IMPORTS |
157.672 |
168.696 |
70.497 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.08 |
3.07 |
3.46 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
|
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
184.000 |
188.900 |
201.200 |
|
Total Expenditure |
157.400 |
168.800 |
183.700 |
|
PBIDT (Excl OI) |
26.600 |
20.100 |
17.500 |
|
Other Income |
0.000 |
0.000 |
1.200 |
|
Operating Profit |
26.600 |
20.100 |
18.700 |
|
Interest |
7.700 |
8.000 |
9.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
18.900 |
12.100 |
9.700 |
|
Depreciation |
5.300 |
5.500 |
5.300 |
|
Profit Before Tax |
13.600 |
6.600 |
4.400 |
|
Tax |
2.200 |
3.700 |
1.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
11.400 |
2.900 |
3.300 |
|
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 |
11.400 |
2.900 |
3.300 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
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 |
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
LONG TERM
BORROWINGS |
|
|
|
FROM BODIES
CORPORATE : |
|
|
|
Related Parties |
16.400 |
16.050 |
|
Others |
10.000 |
25.348 |
|
From Directors |
2.500 |
2.568 |
|
From Others (Including Deferred Credit) |
21.671 |
16.451 |
|
Total |
50.571 |
60.417 |
|
|
|
|
OPERATIONS
The Company continues to increase the sales of Carton Sealing Tapes and other Specialty Adhesive Coated products by providing the customers an excellent quality product backed by dedicated customer services. The Company continues to add value to the product and has focus towards using self adhesive tapes as both a security feature and as well as a product branding tool which have resulted in higher sales and as well better contribution to the profits of the company in the current year.
The Company has now reduced its BOPP film production for converting into adhesive tapes due to cheaper availability of films in the market from the competitors and has undertaken an initiative to upgrade the quality of the film plant by some major changes in the critical components of the film plant which will become operational by March 2014, and then allow the company to make a variety of films for selling in the market.
The Company has commenced production of POF shrink films from 16th March, 2012 in the new location at Roorkee in Uttarakhand and this new product has been well appreciated in the market and will also help significantly in improving the sales turnover of the company and enhancing its profits in the current financial year.
CURRENT SCENARIO
The growing sales of Carton Sealing Tapes and the acceptance of the new products developed by the Company for the Indian market and as well growth in the FMCG sector in India for all manufactured products and services provides ample opportunity for the Company to utilize full capacities for production of Self Adhesive Tapes and be able to focus on building its Brand and Image as a quality supplier of Adhesive Coated Products in India.
The Company expects to utilize 100% capacity of the POF shrink films plant during the current year which will enhance the turnover and bring good profits to the Company.
The recent fall in the value of the INR against the USD has been beneficial for the company as it has helped in promoting exports of our manufactured products, since it would now be able to take more advantage of the global network created over the last few years with consistent exports to various parts of the world for different types of packaging materials.
FINANCIAL RESULTS
The total income of the Company has increased by about 14.30% despite the slowdown in the global economy, whereas the PAT has increased marginally by about 0.39%, due to the volatility in raw material prices during the year and the higher rates of interest charged by the lenders.
The Company is confident of further improving the performance in the Current financial year and is pleased to inform you that it is moving towards greater success and prosperity and would keep looking for new opportunities to expand the business in the packaging industry.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10453011 |
10/02/2014 * |
60,000,000.00 |
IDBI BANK LIMITED |
3RD FLOOR, INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI -110001, INDIA |
B96102223 |
|
2 |
10382654 |
27/12/2013 * |
205,000,000.00 |
IDBI BANK LIMITED |
3RD FLOOR, INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI -110001, INDIA |
B93102846 |
|
3 |
10369534 |
17/10/2013 * |
123,000,000.00 |
IDBI BANK LIMITED |
3RD FLOOR, INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI -110001, INDIA |
B87124954 |
|
4 |
10219496 |
27/12/2013 * |
331,200,000.00 |
ALLAHABAD BANK |
INTERNATIONAL RANCH, NEW DELHI, 3RD FLOOR, 17 PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B93931194 |
|
5 |
10219493 |
19/03/2010 |
139,700,000.00 |
ALLAHABAD BANK |
INTERNATIONAL BRANCH, 17, PARLIAMENT STREET,, NEW |
A85365344 |
|
6 |
10157551 |
04/01/2014 * |
205,000,000.00 |
IDBI BANK LIMITED |
3RD FLOOR, INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI -110001, INDIA |
B93957694 |
|
7 |
10106269 |
05/06/2008 |
63,750,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A39900923 |
|
8 |
80026962 |
06/04/2004 |
95,500,000.00 |
THE UNITED WESTERN BANK LIMITED |
KAROL BAGH, NEW DELHI, DELHI - 110005, INDIA |
- |
|
9 |
90063104 |
06/04/2004 |
36,700,000.00 |
ALLAHABAD BANK |
DELHI GATE, 228; HAPUR ROAD, GHAZIABAD, UTTAR PRADESH - 201001, INDIA |
- |
|
10 |
90061434 |
17/04/2003 * |
34,700,000.00 |
ALLAHABAD BANK |
DELHI GATE, GHAZIABAD, UTTAR PRADESH, INDIA |
- |
|
11 |
90060820 |
10/01/1998 * |
26,100,000.00 |
ALLAHABAD BANK |
DELHI GATE, GHAZIABAD AND SCINDIA HOUSE, DELHI, DELHI, INDIA |
- |
|
12 |
90060721 |
06/12/1996 * |
600,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
2046; GURUDWARA ROAD, KAROL BAGH, NEW DELHI, DELHI, INDIA |
- |
* Date of charge modification
UNAUDITED
FINANCIAL RESULTS FOR THE THREE MONTHS ENDED 31.12.2013
(Rs. in millions)
|
Sr. No. |
Particular |
Quarter Ended |
Nine Months |
|
|
|
|
3 Months Ended 31.12.2013 |
3 Months Ended 30.09.2013 |
9 Months Ended 31.12.2013 |
|
1. |
Net Sales/Income
from Operations |
201.200 |
188.900 |
574.100 |
|
2. |
Other Income |
1.200 |
0.000 |
1.200 |
|
|
|
202.400 |
188.900 |
575.300 |
|
|
|
|
|
|
|
3. |
Expenditure |
|
|
|
|
|
Increase/Decrease in Stock in Trade |
2.300 |
3.400 |
(7.900) |
|
|
Consumption of Raw Materials |
129.500 |
114.600 |
368.800 |
|
|
Staff Cost |
12.800 |
10.900 |
34.400 |
|
|
Other Expenditures |
39.100 |
39.900 |
114.600 |
|
4. |
Interest |
9.000 |
8.000 |
24.700 |
|
5. |
Depreciation and Amortization Expenses |
5.300 |
5.500 |
16.100 |
|
|
f) Total |
198.000 |
182.300 |
550.700 |
|
|
|
|
|
|
|
6. |
Profit
/ Loss Before Tax |
4.400 |
6.600 |
24.600 |
|
|
|
|
|
|
|
7. |
Provision for Taxation |
(0.900) |
(1.300) |
(4.900) |
|
8. |
Mat Tax Credit |
0.000 |
(1.700) |
(1.700) |
|
9. |
Add: Deferred Tax Assets |
(0.200) |
(0.700) |
(0.400) |
|
|
|
|
|
|
|
10. |
Net
Profit / Loss |
3.300 |
2.900 |
17.600 |
|
|
|
|
|
|
|
11. |
Paid-up Equity Share Capital (Face Value of Rs.10/- Each) |
51.200 |
51.200 |
51.200 |
|
|
|
|
|
|
|
12. |
Reserves Excluding Revaluation Reserve |
101.100 |
97.700 |
101.100 |
|
|
|
|
|
|
|
13. |
Earning Per Shares |
0.64 |
0.57 |
3.44 |
|
|
|
|
|
|
|
14. |
Non
Promoted |
|
|
|
|
|
-Number of Shares |
2302571 |
2302571 |
2302571 |
|
|
- Percentage of Shareholding |
41% |
41% |
41% |
|
|
|
|
|
|
|
15. |
Promoters
and Promoter Group Shareholding |
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital of
the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
|
|
- Number of Shares |
2813729 |
2813729 |
2813729 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
100% |
100% |
100% |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
59% |
59% |
59% |
NOTES
- Above results
were taken on record by its Board of Directors at the meeting held on
15.02.2014.
- Segment reporting
as defined in accounting standard 17 is not applicable to the Company
- There were no
complaints from investors outstanding at the beginning of the quarter. The
company received one complaint from the investors during the qtr.
- Results for
the period ended December 31, 2013 have been received by the auditors of
company.
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.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.