MIRA INFORM REPORT
|
Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
HINDOOSTAN MILLS LIMITED |
|
|
|
|
Registered
Office : |
Sir Vithaldas Chambers, 16 Mumbai Samachar Marg, Fort,
Mumbai – 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.05.1904 |
|
|
|
|
Com. Reg. No.: |
11-000195 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.645 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
L17121MH1904PLC000195 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Sale of Textiles. |
|
|
|
|
No. of Employees
: |
462 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
Maximum Credit Limit : |
USD 3800000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually 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.
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.2453.2 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 DENIDE
Management Non-Cooperative (Tel No.: 91-22-22040846)
LOCATIONS
|
Registered Office : |
Sir Vithaldas Chambers, 16 Mumbai Samachar Marg, Fort,
Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22040846 / 47 |
|
Fax No.: |
91-22-22833841 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
Textiles Unit and Roll Manufacturing Unit 1 Plot No. D-1, MIDC Industrial Area,Village -
Taswade, Tal - Karad, District Satara - 415109, Maharashtra, India |
|
|
|
|
Factory 2 : |
Roll
Manufacturing Unit 2 Plot
No. B-24, Anand Nagar, MIDC Industrial Area, Addl. Ambernath, Thane - 421506,
Maharashtra, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr.
Sudhir Thackersey |
|
Designation : |
Chairman
Emeritus (Director upto 9.8.2012) |
|
|
|
|
Name : |
Raoul
Thackersey |
|
Designation : |
Chairman
|
|
|
|
|
Name : |
Chandrahas
Thackersey |
|
Designation : |
Vice
chairman |
|
|
|
|
Name : |
Hrishikesh
Thackersey |
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Abhimanyu Thackersey
|
|
Designation : |
Executive
Director |
|
|
|
|
Name : |
Krishnadas
D. Vora |
|
Designation : |
Director |
|
|
|
|
Name : |
Naresh
R. Kara |
|
Designation : |
Director |
|
|
|
|
Name : |
D.M.
Popat (director upto 9.8.2012) |
|
Designation : |
Director |
|
|
|
|
Name : |
R.N.
Bansal |
|
Designation : |
Director |
|
Qualifications
: |
B.Com., M.A.,F.C.A.,A.C.S.,
A.C.I.S. |
|
Date of Appointment : |
08.06.2011 |
|
|
|
|
Name : |
P.B.
Desai |
|
Designation : |
Director |
|
Qualifications
: |
B.Com. |
|
Date of Appointment : |
08.06.2011 |
|
|
|
|
Name : |
Sujal
A. Shah |
|
Designation : |
Director |
|
Qualifications
: |
B.Com.,
F.C.A. |
|
Date of Appointment : |
08.06.2011 |
|
|
|
|
Name : |
Bhavesh
V. Panjuani |
|
Designation : |
Director |
|
|
|
|
Name : |
Nitin
P. Shingala |
|
Designation : |
Director |
SHAREHOLDING PATTERN
As on 31.04.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
554665 |
33.32 |
|
|
415447 |
24.96 |
|
|
970112 |
58.28 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
970112 |
58.28 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
8 |
0.00 |
|
|
2120 |
0.13 |
|
|
2128 |
0.13 |
|
|
|
|
|
|
16181 |
0.97 |
|
|
|
|
|
|
438742 |
26.36 |
|
|
213772 |
12.84 |
|
|
23613 |
1.42 |
|
|
23613 |
1.42 |
|
|
692308 |
41.59 |
|
Total
Public shareholding (B) |
694436 |
41.72 |
|
Total
(A)+(B) |
1664548 |
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) |
1664548 |
100.00 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Abhimanyu
Investments Private Limited |
21977 |
1.32 |
|
Abhimanyu
J Thackersey |
34573 |
2.08 |
|
Ameeta
J Thackersey |
22660 |
1.36 |
|
Bhavika
Nimish Sonawala |
3720 |
0.22 |
|
Chandrahas
K Thackersey |
71184 |
4.28 |
|
Chandrali
Investment Private Limited |
85017 |
5.11 |
|
Delta
Investments Limited |
79880 |
4.80 |
|
Devaunshi
A Mehta |
2814 |
0.17 |
|
Devaunshi
Investments Private Limited |
58430 |
3.51 |
|
Ellora
Investment Private Limited |
53477 |
3.21 |
|
Hrishikesh
Investments Private Limited |
28937 |
1.74 |
|
Hrishikesh
J Thackersey |
26621 |
1.60 |
|
Jagdish
U Thackersey |
180586 |
10.85 |
|
Khushaal
C Thackersey |
31638 |
1.90 |
|
Leena
C Thackersey |
6474 |
0.39 |
|
Malti
U Thackersey |
2488 |
0.15 |
|
Mitika
C Thackersey |
5987 |
0.36 |
|
Nina
S Thackersey |
40024 |
2.40 |
|
Paulomi
B Jain |
4580 |
0.28 |
|
Paura
Investments Private Limited |
22639 |
1.36 |
|
Pushya
Trading Private Limited |
16067 |
0.97 |
|
Raoul
S Thackersey |
104690 |
6.29 |
|
Sudhir
K Thackersey |
16626 |
1.00 |
|
The
Bhor Chemicals & Plastics Private Limited |
37334 |
2.24 |
|
Uranus
Trading Private Limited |
11689 |
0.70 |
|
Total |
970112 |
58.28 |
Shareholding of securities (including shares, warrants, convertible securities)
of persons belonging to the category Public and holding more than 1% of the
total number of shares
|
Names of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Harsha
Hitesh Jhaveri |
20035 |
1.20 |
|
Hiren
Naresh Kara |
65394 |
3.93 |
|
Hitesh
Ramji Jhaveri |
23000 |
1.38 |
|
Naresh
Ranjitsinh Kara |
32210 |
1.94 |
|
Yogesh
Uttamlal Mehta |
34700 |
2.08 |
|
Total |
175339 |
10.53 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Sale of Textiles. |
||||||||
|
|
|
||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
462 (Approximately) |
|
|
|
|
Bankers : |
·
HDFC Bank Limited ·
UCO Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M.A. Parikh and Company Chartered Accountants |
|
|
|
|
Solicitors : |
·
Mulla and Mulla and
Craigie Blunt and Caroe ·
Federal and Rashmikant
|
|
|
|
|
Subsidiary Company : |
|
|
|
|
|
Associates / companies
where control exists : |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22767500 |
Equity Shares |
Rs.10/- each |
Rs.227.675 Millions |
|
2500 |
5% Redeemable Cumulative
"A" Preference Shares |
Rs.10/- each |
Rs.0.025 Millions |
|
780000 |
15% Non-Convertible Redeemable
Non-Cumulative Preference Shares |
Rs.10/- each |
Rs.7.800 Millions |
|
10000000 |
Preference Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
Total |
|
Rs.335.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1664548 |
Equity Shares |
Rs.10/- each |
Rs.16.645 Millions |
The Company has
issued only one class of shares referred to as Equity Shares having a par value
of Rs.10/-. Each holder of Equity Shares is entitled to one vote per share. 958708, Equity Shares of Rs.10 /- each are alloted on 27th June 2011 as fully
paid up without payment being received in cash pursuant to the scheme of
Amalgamation Sanctioned by the High Court of Bombay dated 1st April 2011.
Reconciliation of
the number of shares
|
Equity Shares |
Rs. In Millions |
|
|
|
|
1664548 Equity Shares at the
beginning and at the end of the year of Rs.10/- each fully paid up |
16.645 |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Chandrali Investments Private Limited |
83396 |
5.01% |
|
Mr. Jagdish Thackersey |
180586 |
10.85% |
|
Mr. Raoul Thackersey |
104690 |
6.29% |
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 |
|
16.645 |
16.645 |
|
(b) Reserves & Surplus |
|
933.039 |
905.805 |
|
(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) |
|
949.684 |
922.450 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
18.314 |
16.804 |
|
Total Non-current
Liabilities (3) |
|
18.314 |
16.804 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
0.000 |
9.000 |
|
(b) Trade
payables |
|
44.831 |
67.076 |
|
(c) Other
current liabilities |
|
72.792 |
64.208 |
|
(d) Short-term
provisions |
|
21.691 |
14.542 |
|
Total Current
Liabilities (4) |
|
139.314 |
154.826 |
|
|
|
|
|
|
TOTAL |
|
1,107.312 |
1,094.080 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
505.324 |
439.551 |
|
(ii)
Intangible Assets |
|
0.600 |
0.600 |
|
(iii)
Capital work-in-progress |
|
6.602 |
81.599 |
|
(iv)
Retired Fixed Assets |
|
0.209 |
0.000 |
|
(b) Non-current Investments |
|
4.301 |
4.301 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
10.415 |
19.674 |
|
(e) Other
Non-current assets |
|
0.696 |
0.838 |
|
Total Non-Current
Assets |
|
528.147 |
546.563 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
54.520 |
6.720 |
|
(b)
Inventories |
|
196.742 |
206.771 |
|
(c) Trade
receivables |
|
163.453 |
158.316 |
|
(d) Cash and
cash equivalents |
|
6.261 |
17.386 |
|
(e)
Short-term loans and advances |
|
157.678 |
157.923 |
|
(f) Other
current assets |
|
0.511 |
0.401 |
|
Total
Current Assets |
|
579.165 |
547.517 |
|
|
|
|
|
|
TOTAL |
|
1,107.312 |
1,094.080 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
16.645 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
925.977 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
942.622 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
942.622 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
277.399 |
|
|
Capital work-in-progress |
|
|
34.372 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
117.120 |
|
|
DEFERRED TAX ASSETS |
|
|
0.149 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
209.322 |
|
|
Sundry Debtors |
|
|
138.944 |
|
|
Cash & Bank Balances |
|
|
149.392 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
176.534 |
|
Total
Current Assets |
|
|
674.192 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
85.962 |
|
|
Other Current Liabilities |
|
|
39.011 |
|
|
Provisions |
|
|
35.637 |
|
Total
Current Liabilities |
|
|
160.610 |
|
|
Net Current Assets |
|
|
513.582 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
942.622 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1,064.350 |
1,027.213 |
963.698 |
|
|
|
Other Income |
20.087 |
20.101 |
97.061 |
|
|
|
|
0.255 |
1.463 |
3.571 |
|
|
|
TOTAL (A) |
1,084.692 |
1,048.777 |
1,064.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
619.417 |
704.737 |
|
|
|
|
Purchases of Stock-in-Trade |
65.196 |
61.333 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
4.985 |
(27.893) |
|
|
|
|
Employees benefits expense |
83.046 |
78.655 |
|
|
|
|
Other expenses |
210.256 |
213.445 |
|
|
|
|
Exceptional Items |
(0.125) |
(11.486) |
|
|
|
|
TOTAL (B) |
982.775 |
1,018.791 |
946.506 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
101.917 |
29.986 |
117.824 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.652 |
0.704 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
101.265 |
29.282 |
117.824 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.157 |
41.197 |
19.621 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
54.108 |
(11.915) |
98.203 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.365 |
0.000 |
12.536 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
41.743 |
(11.915) |
85.667 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
165.616 |
53.680 |
40.630 |
|
|
TOTAL EARNINGS |
165.616 |
53.680 |
40.630 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6.494 |
8.872 |
|
|
|
|
Stores & Spares |
4.674 |
11.032 |
|
|
|
|
Capital Goods |
5.102 |
193.831 |
|
|
|
TOTAL IMPORTS |
16.270 |
213.735 |
30.259 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
25.08 |
(7.16) |
47.74 |
|
QUARTERLY RESULTS
|
Particulars |
30.06.2013 (Unaudited) |
30.09.2013 (Unaudited) |
31.12.2013 (Unaudited) |
31.03.2014 (Unaudited) |
|
|
1st
Quarter |
2nd Quarter |
3rd Quarter |
4th
Quarter |
|
Net sales |
316.500 |
378.800 |
368.700 |
382.300 |
|
Total Expenditure |
279.000 |
341.900 |
346.000 |
365.400 |
|
PBIDT (Excluding Other Income) |
37.500 |
36.900 |
22.700 |
16.900 |
|
Other Income |
3.700 |
2.200 |
1.900 |
6.600 |
|
Operating Profit |
41.200 |
39.100 |
24.600 |
23.500 |
|
Interest |
0.000 |
0.500 |
0.900 |
0.000 |
|
Exceptional Items |
(0.300) |
2.000 |
1.000 |
0.100 |
|
PBDT |
40.900 |
40.600 |
24.700 |
23.600 |
|
Depreciation |
15.700 |
15.700 |
15.900 |
13.400 |
|
Profit Before Tax |
25.200 |
24.900 |
8.800 |
10.200 |
|
Tax |
5.000 |
5.000 |
1.000 |
3.000 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
20.200 |
19.900 |
7.800 |
7.200 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
20.200 |
19.900 |
7.800 |
7.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.85 |
(1.14) |
3.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.08 |
(1.16) |
5.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.94 |
(1.18) |
4.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
(0.01) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.01 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.16 |
3.54 |
4.16 |
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 |
16.645 |
16.645 |
16.645 |
|
Reserves & Surplus |
925.977 |
905.805 |
933.039 |
|
Net
worth |
942.622 |
922.450 |
949.684 |
|
|
|
|
|
|
Secured Loans |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
9.000 |
0.000 |
|
Total
borrowings |
0.000 |
9.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.010 |
0.000 |
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 |
963.698 |
1,027.213 |
1,064.350 |
|
|
|
6.591 |
3.615 |
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
|
963.698 |
1,027.213 |
1,064.350 |
|
Profit |
85.667 |
-11.915 |
41.743 |
|
|
8.89% |
-1.16% |
3.92% |
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 |
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 |
No |
|
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:
|
Particulars |
31.03.2013 Rs.
In Millions |
31.03.2012 Rs.
In Millions |
|
Short Term
Borrowings |
|
|
|
Unsecured loans from related parties |
0.000 |
9.000 |
|
Total |
0.000 |
9.000 |
REVIEW OF OPERAT
IONS
The revenue from operations of the
Company for the financial year 2012-13 is Rs.1064.350 Millions. The Profit
before tax is Rs.54.108 Millions. The
performance and overall view of the Textile as well as the Roll manufacturing
business has been cove red in the Management Discussion and Analysis which forms part of
this Directors’ Report.
The Company’s Roll manufacturing
factory at Ambernath is considered to be obsolete and economically
unsustainable by the management. Therefore it was decided to shift its activities to the
aforesaid factory at Karad.
OUTLOOK
The future outlook of the Company looks positive.
The Company plans to continuously invest in new machineries, a skilled
workforce and establishing a stronger goodwill in the market. The continued
focus on delivering quality products to our customers with commitment and
timeliness as well as diversification and value added products will help the
Company to grow steadily and maintain healthy margins.
Domestic consumption on the whole has a positive
outlook at the present time, but will be dictated by the behavior of raw
material prices and threat of cheap imports in the near future. The Company is
also focused on capturing key international markets but much depends on trade policy
support from the government.
The Company continues to focus on
its core values viz. Versatility, Quality and Commitment
NO
CHARGES EXIST FOR THE COMPANY
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.04 |
|
UK Pound |
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
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 |
|
48 |
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.