MIRA
INFORM REPORT
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Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
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Name : |
SAMRUDDHI
INDUSTRIES LIMITED |
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Formerly Known
As : |
MALSONS ORGANICS LIMITED |
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Registered
Office : |
J-98, MIDC, Kupwad Block, Sangli - 416436 Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.09.1992 |
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Com. Reg. No.: |
11-068458 |
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Capital
Investment / Paid-up Capital : |
Rs.74.325 Millions |
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CIN No.: [Company Identification
No.] |
U24119PN1992PLC068458 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
KLPS05417G |
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PAN No.: [Permanent Account No.] |
AAHCS9137L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
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Manufacturer and Exporter of Plastic Products. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1221000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company possesses an acceptable financial profile marked by
adequate networth base and working capital intensive operations along with
elongated operating cycle on account of high inventory holding period. Management has reported a moderate, albeit growing, scale of
operations as well as net profitability during FY 2013. The ratings also take into consideration the susceptibility of margins
due to volatile raw material prices. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. In view of experienced promoters and established brand name, the
subject can be considered 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
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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
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Rating Agency Name |
CARE |
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Rating |
Long term bank facilities BB+ |
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Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
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Date |
January 21, 2014 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities A4+ |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
January 21, 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 NO CO-OPERATIVE (91-233-2645733)
LOCATIONS
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Registered
Office / Manufacturing Unit 1 : |
J-98, MIDC, Kupwad Block, Sangli - 416436 Maharashtra, India |
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Tel. No.: |
91-233-2645733/ 2644217/ 2645137 |
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Mobile No.: |
91-9423677044 (Mr. Ram Patil) |
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Fax No.: |
91-233-2644903 |
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E-Mail : |
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Website : |
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Area : |
500 sq. ft. |
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Location : |
Owned |
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Manufacturing
Unit 2 : |
Plot No. 31, L.K.
Akiwate Industrial Estate, Jaysingpur, Kolhapur - 416144, Maharashtra, India |
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Location : |
Owned |
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Manufacturing Unit 3 : |
Plot No. 39 and 42,
APIIC Industrial Park, Valasapalli, Madanapalle, District – Chittoor –
517325, Andhra Pradesh, India |
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Manufacturing Unit 4 : |
R Plot No.25, 25 Sector
6, Pant Nagar, Rudrapur – 263153, Uttarakhand, India |
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Corporate/ Head Office : |
J-84, MIDC, Kupwad
Block, Sangli, |
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Tel No.: |
91-233-2645137/
2644217/ 2644902/ 2645717 |
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Fax No.: |
91-233-2644903 |
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Email : |
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International Office : |
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Regional
Offices and |
Located at: ·
· Andhra Pradesh · Ahmedabad ·
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DIRECTORS
As on 27.09.2013
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Name : |
Mr. Ramakant Narayan Malu |
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Designation : |
Managing director |
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Address : |
196/ 3, M.G. Road, Jaysingpur, Kolhapur – 416101, Maharashtra, India |
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Date of Birth/Age : |
11.05.1966 |
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Qualification : |
B.E. (Plastic) |
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Date of Appointment : |
15.05.1995 |
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PAN No.: |
ABEPM4681J |
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DIN No.: |
00286135 |
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Name : |
Mr. Omprakash Narayan Malu |
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Designation : |
Whole-time director |
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Address : |
196/ 3, M.G. Road, Jaysingpur, Kolhapur – 416101, Maharashtra, India |
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Date of Birth/Age : |
24.02.1969 |
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Qualification : |
D. Pharmacy |
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Date of Appointment : |
01.01.2002 |
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PAN No.: |
ABFPM6230L |
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DIN No.: |
00286152 |
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Name : |
Mr. Pramod Narayan Malu |
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Designation : |
Whole-time director |
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Address : |
196/ 3, M.G. Road, Jaysingpur, Kolhapur – 416101, Maharashtra, India |
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Date of Birth/Age : |
21.11.1973 |
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Qualification : |
MBA |
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Date of Appointment : |
25.04.2003 |
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PAN No.: |
ABFPM6231M |
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DIN No.: |
00286155 |
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Name : |
Mr. Narayan Mangilal Malu |
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Designation : |
Director |
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Address : |
196/ 3, M.G. Road, Jaysingpur, Kolhapur – 416101, Maharashtra, India |
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Date of Birth/Age : |
28.07.1937 |
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Date of Appointment : |
08.09.1992 |
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DIN No.: |
00286126 |
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Name : |
Mrs. Shweta alias Ranjana Pramod Malu |
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Designation : |
Director |
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Address : |
196/ 3, M.G. Road, Jaysingpur, Kolhapur – 416101, Maharashtra, India |
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Date of Birth/Age : |
21.11.1973 |
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Qualification : |
B.Com |
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Date of Appointment : |
25.04.2003 |
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DIN No.: |
00286168 |
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Name : |
Mr. Rajakumar Kisanlal Zawar |
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Designation : |
Director |
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Address : |
Near Chumari Block, Near Hill Garden, Gokak, Belgaum – 591307,
Karnataka, India |
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Date of Birth/Age : |
05.12.1958 |
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Qualification : |
B.Com |
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Date of Appointment : |
31.08.2006 |
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DIN No.: |
03245365 |
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Name : |
Mrs. Minal Madhav Bapat |
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Designation : |
Director |
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Address : |
424, Gaon Bhag, Sangli - 416416, Maharashtra, India |
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Date of Birth/Age : |
17.07.1956 |
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Qualification : |
LL.B. |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
03343399 |
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Name : |
Mr. Venu Dabeer |
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Designation : |
Director |
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Address : |
2 Shivdarshan Society, Gandhinagar – 382424, Gujarat, India |
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Date of Birth/Age : |
06.04.1967 |
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Qualification : |
MBA |
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Date of Appointment : |
21.09.2010 |
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DIN No.: |
03339990 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
As on 27.09.2013
Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage of Holding |
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Directors or relatives of Directors |
92.00 |
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Others |
8.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plastic Products. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
· The Karnataka Bank Limited, P. B. No. 599, Mahaveera Circle, Kankanady Mangalore – 575002, Karnataka, India · The Shamrao Vitthal Co-Operative Limited, G-3,Balaji Celebrations, Neminath Nagar, Vishram Baug, Sangli - 416415, Maharashtra, India · Karnataka Bank Limited, Pune Main Branch, 10, Budhwar Peth, Bajirao Road, Pune – 411002, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Tejpal Chandrakant and Company Chartered Accountants |
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Address : |
C C No. 127/2, Rockel Lane, Vakhar Baug, Sangli, Maharashtra, India |
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Tel. No. : |
91-233-2623625/ 2622536 |
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E-Mail : |
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PAN
No. : |
AAGFT5410P |
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Associates : |
¨ Samruddhi Value
Mkt Limited ¨ Samadhan
Industries LLP |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8500000 |
Equity Shares |
Rs.10/- each |
Rs.85.000 Millions |
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1500000 |
Preference shares |
Rs.10/- each |
Rs.15.000 Millions |
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Total |
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Rs.100.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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5932530 |
Equity Shares |
Rs.10/- each |
Rs.59.325 Millions |
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1500000 |
Preference shares |
Rs.10/- each |
Rs.15.000 Millions |
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Total |
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Rs.74.325
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY
AND LIABILITIES |
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(1)Shareholders'
Funds |
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(a) Share Capital |
74.325 |
74.325 |
74.325 |
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(b) Reserves & Surplus |
231.047 |
183.146 |
150.778 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
305.372 |
257.471 |
225.103 |
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