MIRA INFORM REPORT
|
Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOUTHERN PETROCHEMICAL INDUSTRIES CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
“Spic House”, 88 Mount Road, Guindy, Chennai – 600032, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.12.1969 |
|
|
|
|
Com. Reg. No.: |
18-005778 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2161.403 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L11101TN1969PLC005778 |
|
|
|
|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing and Selling Urea and Nitrogenous chemical fertilizer. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 5800000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The rating is constrained on account of company’s weak financial risk
profile marked by below average operational performance and moderate
liquidity position of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealing with some caution. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel No.: 91-44-22350245)
LOCATIONS
|
Registered Office : |
“Spic House”, 88 Mount Road, Guindy, Chennai – 600032, Tamilnadu,
India |
|
Tel. No.: |
91-44-22350245 |
|
Fax No.: |
91-44-22352163 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 30. 07.2014
|
Name : |
Ashwin C Muthiah |
|
Designation : |
Chairman |
|
Address : |
B.E. (Mech.), Management Studies, University of Detroir, USA |
|
|
|
|
Name : |
T K Arun |
|
Designation : |
Director |
|
|
|
|
Name : |
B Elangovan |
|
Designation : |
Director |
|
|
|
|
Name : |
B Narendran |
|
Designation : |
Director |
|
|
|
|
Name : |
S Shankar |
|
Designation : |
Director |
|
|
|
|
Name : |
K K Rajagopalan |
|
Designation : |
Whole-Time Director |
|
|
|
|
Name : |
S R Ramakrishnan |
|
Designation : |
Whole-Time Director |
KEY EXECUTIVES
|
Name : |
M B Ganesh |
|
Designation : |
Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
Shareholder Details File Not Available
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling Urea and Nitrogenous chemical fertilizer. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|
|
|
|
Bankers : |
Not Divulged |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sells Chartered Accountants |
|
Address : |
ASV N Ramana Tower, 52, Venkanarayan Road, Chennai – 600 017,
Tamilnadu, India |
|
|
|
|
Subsidiaries
: |
|
|
|
|
|
Associates : |
|
|
|
|
|
Jointly
controlled entities : |
|
|
|
|
|
Key Management
Personnel : |
|
|
|
|
|
Enterprises
owned by / over which Key Management
Personnel is able to exercise significant
influence |
|
|
|
|
|
Others : |
|
CAPITAL STRUCTURE
As On 31.03.2014
Authorised Capital: Rs. 4250.000 Millions
Issued, Subscribed & Paid-up Capital: Rs. 2161.403
Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
2161.403 |
2161.403 |
1787.784 |
|
(b) Reserves & Surplus |
(121.586) |
(780.204) |
(12111.841) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.0 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.0 |
|
Total
Shareholders’ Funds (1) + (2) |
2039.817 |
1381.199 |
(10324.057) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
570.004 |
1540.149 |
9029.820 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
204.074 |
1063.333 |
91.038 |
|
(d) long-term
provisions |
26.661 |
26.166 |
31.369 |
|
Total Non-current
Liabilities (3) |
800.739 |
2629.648 |
9152.227 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
3676.847 |
0.000 |
0.000 |
|
(b) Trade
payables |
6135.399 |
1865.879 |
2706.918 |
|
(c) Other
current liabilities |
1524.199 |
1044.143 |
6357.974 |
|
(d) Short-term
provisions |
29.545 |
67.134 |
117.980 |
|
Total Current
Liabilities (4) |
11365.990 |
2977.156 |
9182.872 |
|
|
|
|
|
|
TOTAL |
14206.546 |
6988.003 |
8011.042 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3087.735 |
4121.348 |
4476.136 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
65.774 |
35.589 |
12.277 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
162.352 |
428.237 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
390.718 |
351.786 |
377.453 |
|
(e) Other
Non-current assets |
319.842 |
319.841 |
0.000 |
|
Total Non-Current
Assets |
3864.069 |
4990.916 |
5294.103 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1837.488 |
554.233 |
873.424 |
|
(c) Trade receivables |
152.672 |
131.390 |
109.908 |
|
(d) Cash
and cash equivalents |
160.841 |
391.000 |
140.979 |
|
(e)
Short-term loans and advances |
7808.145 |
919.564 |
1589.582 |
|
(f) Other
current assets |
383.331 |
0.900 |
3.046 |
|
Total
Current Assets |
10342.477 |
1997.087 |
2716.939 |
|
|
|
|
|
|
TOTAL |
14206.546 |
6988.003 |
8011.042 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
13454.719 |
20689.134 |
24385.924 |
|
|
|
Other Income |
84.758 |
158.961 |
115.130 |
|
|
|
TOTAL |
13539.477 |
20848.095 |
24501.054 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
7948.641 |
12058.775 |
13879.897 |
|
|
|
Purchase of Stock-in-Trade |
(0.055) |
47.667 |
208.891 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(18.708) |
90.790 |
127.938 |
|
|
|
Employees benefit expense |
373.004 |
380.176 |
396.765 |
|
|
|
Power and fuel |
3510.144 |
5887.387 |
0.000 |
|
|
|
Other Expenses |
1269.030 |
2001.113 |
8893.059 |
|
|
|
TOTAL |
13082.056 |
20465.908 |
23506.550 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
457.421 |
382.187 |
994.504 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
209.182 |
440.027 |
798.844 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
248.239 |
(57.840) |
195.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
436.721 |
431.937 |
444.649 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE EXCEPTIONAL ITEMS AND
TAX |
(188.482) |
(489.777) |
(248.989) |
|
|
|
|
|
|
|
|
|
Add |
Exceptional Items |
847.100 |
11577.500 |
240.147 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
658.618 |
11087.723 |
(8.842) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
(36.429) |
(71.921) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
658.618 |
11051.294 |
(63.079) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share |
3.15 |
65.09 |
(1.72) |
|
QUARTERLY
|
PARTICULARS |
|
|
Jun 2014 1st Quarter |
|
Audited / Unaudited |
|
|
Unaudited |
|
Net Sales |
|
|
781.120 |
|
Total Expenditure |
|
|
741.090 |
|
PBIDT (Excl OI) |
|
|
40.030 |
|
Other Income |
|
|
2.160 |
|
Operating Profit |
|
|
42.190 |
|
0Interest |
|
|
11.050 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
31.140 |
|
Depreciation |
|
|
10.530 |
|
Profit Before Tax |
|
|
20.610 |
|
Tax |
|
|
0.000 |
|
Provisions and contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
20.610 |
|
Extraordinary Items |
|
|
0.000 |
|
Prior Period Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
20.610 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.89 |
53.41 |
(0.26) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.39 |
1.84 |
4.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(1.33) |
(7.21) |
(0.12) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.09) |
(0.35) |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.08 |
1.12 |
(0.87) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.67 |
0.30 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
1787.784 |
2161.403 |
2161.403 |
|
Reserves & Surplus |
(12111.841) |
(780.204) |
(121.586) |
|
Net
worth |
(10324.057) |
1381.199 |
2039.817 |
|
|
|
|
|
|
long-term borrowings |
9029.820 |
1540.149 |
570.004 |
|
Short term borrowings |
0.000 |
0.000 |
3676.847 |
|
Total
borrowings |
9029.820 |
1540.149 |
4246.851 |
|
Debt/Equity
ratio |
(0.875) |
1.115 |
2.082 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operation |
24385.924 |
20689.134 |
13454.719 |
|
|
|
(15.160) |
(34.967) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operation |
24385.924 |
20689.134 |
13454.719 |
|
Profit |
(63.079) |
11051.294 |
658.618 |
|
|
(0.26%) |
53.42% |
4.90% |
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 |
No |
|
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 |
Yes |
|
23] |
Banking Details |
No |
|
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 |
No |
|
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 |
No |
LITIGATION DETAILS
CHENNAI COURT
CASE STATUS
INFORMATION SYSTEM
|
Case Status : |
Pending |
|
Status Of : |
COMPANY PETITION |
|
Case No.: |
298 |
|
Year : |
2014 |
|
Petitioner : |
BAJAJ
ELECTRICALS LIMITED |
|
Respondent : |
SOUTHERN
PETROCHEMICALS |
|
Pet’s Advocate : |
M/S.
T.M.HARIHARAN |
|
Res’s Advocate : |
-- |
|
Category : |
NO CATEGORY
MENTIONED |
|
Last Listed on : |
No Date
Mentioned |
|
Case Updated on
: |
September 24,
2014 |
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
CORPORATE INFORMATION
Southern Petrochemical Industries Corporation Limited
(the Company), having its registered office at Chennai is a Public
Limited Company, incorporated under the provisions of the Companies Act, 1956.
Its shares are listed on National Stock Exchange of India. The Company is
manufacturing and selling Urea, a Nitrogenous chemical fertilizer and has its
manufacturing facility at Tuticorin.
INDUSTRY OVERVIEW:
India is expected to have a record food grain
output in the year 2013-14 of 263.200 million tonnes compared to 257.130
million tonnes in the previous year. (Source Press Information Bureau, Ministry
of Agriculture, GoI) For the year 2014-15, there is an apprehension of less
than normal rainfall due to the El Nino effect. (Source: Business Standard 16
Apr 2014). However, in view of the lowest nutrient price for Urea from amongst
all the available nutrients, we do not anticipate any adverse impact in the
market for Urea. India has 1260Millions mouths to feed. In comparison, China
has 139 crores population. With a population growth of 1.24% in India to 0.61%
in China, by the year 2030, the Indian population is expected to surpass
China’s population and become the most populous country in the world. This is
going to exert enormous strain on food grain availability. During the year
2013-14, the GoI imported 7.08 MMT of Urea. With such a huge deficit in
indigenous urea production and an ever growing demand, the company doesn’t
anticipate any problem in marketing all its capacity
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH JUNE 2014
(Rs. in millions)
|
Sr. No. |
Particulars |
Quarter Ended |
|
30.06.2014 |
||
|
Unaudited |
||
|
Part I |
|
|
|
1. |
Income from
Operations |
|
|
|
a)
Net Sales / Income from Operations |
7774.497 |
|
|
b)
Other Operating Income |
36.731 |
|
|
Total
Income from Operations (net) |
781.228 |
|
2. |
Expenditure |
|
|
|
a)
Cost of materials consumed |
4871.767 |
|
|
b)
Purchase of stock-in-trade |
0.027 |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(25.986) |
|
|
d)
Employee benefits expense |
93.168 |
|
|
e)
Depreciation and amortisation expense |
105.318 |
|
|
f) Power and Fuel Charges |
1967.635 |
|
|
g)
Other expenses |
504.313 |
|
|
Total Expenses |
7516.242 |
|
3. |
Profit/ (Loss) from Operations
before Other Income, Exchange gain/(loss), Finance costs and Exceptional
items (1-2) |
294.986 |
|
4a. |
Other Income |
4.742 |
|
4b. |
Exchange
Gain / (Loss) (Net) |
16.834 |
|
5. |
Profit /(Loss) from
Ordinary activities before finance costs and Exceptional items (3+4a+4b) |
316.562 |
|
6. |
Finance Costs |
110.476 |
|
7. |
Profit / (Loss) from ordinary activities
after Finance costs but before Exceptional items (5-6) |
206.086 |
|
8. |
Exceptional items (a) Loss on sale of Business undertaking (b) Loss on sale investment (c) Provision for diminution in value of
investments written back (d) Excess Liability written back (e) Provision for impairment loss |
- - - - - |
|
9. |
Profit/ (Loss) from ordinary activities
before tax (7+8) |
206.086 |
|
10. |
Tax expenses |
- |
|
11. |
Net Profit / (Loss) from ordinary
activities after tax (9-10) |
206.086 |
|
12. |
Extraordinary
items |
- |
|
13. |
Net Profit / (Loss)
for the period (11+12) |
206.086 |
|
14. |
Paid-up equity share capital (Face Value of Rs. 10 per share) |
2036.403 |
|
15. |
Reserve excluding Revaluation reserve |
|
|
16. |
Earnings Per Share (EPS) before and after extraordinary items (of Rs. 10/-
each) a) Basic b) Diluted |
0.99 0.99 |
|
|
|
|
|
Part II |
|
|
|
A. |
PARTIULARS OF SHAREHOLDINGS |
|
|
|
Public
Shareholding |
|
|
|
- Number of Shares |
81402638 |
|
|
- Percentage of Shareholding |
43.63% |
|
|
Promoters and Promoter
Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of Shares |
10044904 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
9.55% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
4.93% |
|
|
b) Non
Encumbered |
|
|
|
- Number of Shares |
95125994 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
90.45% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
46.71% |
|
PARTICULARS |
For the quarter ended 30th June 2014 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
SEGMENT WISE REVENUE, RESULTS AND CAPITAL
EMPLOYED
FOR THE QUARTER ENDED 30TH JUNE
2014
(Rs. in millions)
|
Sr. No. |
Particulars |
Quarter Ended |
|
30.06.2014 |
||
|
Unaudited |
||
|
A |
Segment Revenue |
|
|
|
a)
Agro Inputs |
7798.090 |
|
|
b)
Others |
12.135 |
|
|
c)
Unallocated Income |
1.003 |
|
|
Total |
7811.228 |
|
|
|
|
|
B |
Segment Results |
|
|
|
Profit/(Loss)
(Before Tax and Interest) For
each Segment |
|
|
|
a)
Agro Input |
353.388 |
|
|
b)
Others |
(2.726) |
|
|
Total |
350.663 |
|
|
|
|
|
|
Less:
Finance Cost |
110.476 |
|
|
Add
:Other Net Unallocable Income / (Expenses) |
(34.101) |
|
|
Total Profit Loss Before Taxation |
206.086 |
|
|
|
|
|
C |
Capital Employed (Segment
Assets - Segment Liabilities) |
|
|
|
a)
Agro Inputs |
3244.152 |
|
|
b)
Others |
38.939 |
|
|
c)
Unallocated |
(1037.188) |
|
|
Total |
2245.903 |
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 61.52 |
|
|
1 |
Rs. 97.39 |
|
Euro |
1 |
Rs. 76.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.