MIRA INFORM REPORT
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Report Date : |
18.11.2014 |
IDENTIFICATION DETAILS
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Name : |
PLETHICO PHARMACEUTICALS LIMITED |
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Registered
Office : |
A. B. Road, Manglia, Indore – 453771, Madhya Pradesh |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
04.12.1991 |
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Com. Reg. No.: |
10-006801 |
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Capital
Investment / Paid-up Capital : |
Rs.340.667
Millions |
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CIN No.: [Company Identification
No.] |
L24232MP1991PLC006801 |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BPLP00257F / BPLP00659B |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
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Manufacturing, Marketing and Distribution of Pharmaceutical and Allied Healthcare Products. |
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No. of Employees
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Not Available [We tried to confirm the number of employees but no one
is ready to part any information from the company management] |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 14900000 |
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Status : |
Moderate |
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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 moderate track record. The rating is constrained on account of below average operational
performance and losses that company has incurred form its operational
activities. However, trade relations are
fair. Business is active. Payment terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
Note: The management has changed its financial year filling from
December to March and available financial record subject company is of 15
Months. |
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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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
N E W S
Verdict
Implications: Apex court order may alter coal import dynamics. Traders go
slowly 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.
EXTERNAL AGENCY RATING
NOT AVAILABLE
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.: 91-731-2422881)
LOCATIONS
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Registered Office/ Factory 1 : |
A. B. Road, Manglia, Indore – 453771, Madhya Pradesh, India |
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Tel. No.: |
91-731-2422881-85 |
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Fax No.: |
91-731-2420938 |
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E-Mail : |
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Website : |
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Administrative Office : |
37, Industrial Estate, Pologround, Indore-452015, Madhya
Pradesh, India |
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Tel. No.: |
91-731-2422881/ 84 |
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Fax No.: |
91-731-2420938/ 2421309 |
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E-Mail : |
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Corporate Office : |
Shabnam House, Ground Floor, Plot No. A/15-16, Central Cross Road B,
Behind MIDC Police Chowki, Andheri (East), Mumbai-400093, Maharashtra, India |
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Tel. No.: |
91-22-42359301/ 42359302 |
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Fax No.: |
91-22-42359300/ 42359330 |
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E-Mail : |
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Factory 2 : |
Village Dharawa, Post Kalaria, Indore - 452003, Madhya Pradesh, India |
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Factory 3 : |
Shed No. 347/348, A-II Types, Sector IV, Kandla Special Economic Zone,
Gandhidham, Kanchachh - 370230, Gujarat, India |
DIRECTORS
As on 31.12.2012
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Name : |
Mr. Shashikant Patel |
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Designation : |
Chairman and Managing Director |
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Name : |
Mr. Chirag Patel |
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Designation : |
Whole-time Director and Chief Executive Officer |
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Name : |
Mrs. Gauravi Parikh |
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Designation : |
Executive Director |
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Name : |
Dr. G N Qazi |
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Designation : |
Director |
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Name : |
Mr. Pramod K Shrivastava |
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Designation : |
Director |
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Name : |
Mr. Hitesh Thakar |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr. Amrish Kumar Chourasia |
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Designation : |
Company Secretary |
SHAREHOLDING PATTERN
As on 30.09.2014
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Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
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(A) Shareholding of Promoter and Promoter Group |
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24416430 |
71.67 |
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24416430 |
71.67 |
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Total shareholding of Promoter and Promoter Group (A) |
24416430 |
71.67 |
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(B) Public Shareholding |
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4066631 |
11.94 |
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1624594 |
4.77 |
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5691225 |
16.71 |
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563984 |
1.66 |
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2732307 |
8.02 |
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382164 |
1.12 |
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280557 |
0.82 |
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101656 |
0.30 |
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178901 |
0.53 |
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3959012 |
11.62 |
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Total Public shareholding (B) |
9650237 |
28.33 |
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Total (A)+(B) |
34066667 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
34066667 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, Marketing and Distribution of
Pharmaceutical and Allied Healthcare Products. |
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Products : |
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Brand Names : |
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Agencies Held : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Not Available [We tried to confirm the number of employees but no one is
ready to part any information from the company management] |
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Bankers : |
· Bank of Baroda · IDBI Bank Limited · Exim Bank · State Bank of India · Punjab national Bank · Allahabad Bank |
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Facilities : |
LONG-TERM BORROWINGS The corporate
term loan of Punjab National Bank is secured by: (a)
Pledge of company's equity shares held by one of
the Director (b)
Personal Guarantee of one of the Director of the
company. The term loans taken
from EXIM Bank, Mumbai is secured by: a) Exclusive first charge by way of equitable mortgage of company's land and building situated at Khasra No.821/2, Village Dharawara, Depalpur Tehsil, Indore b) Hypothecation of Plant and Machinery installed in the aforesaid factory premises situated at Khasra No. 821/2, Village Dharawara, Depalpur Tehsil, Indore c) Pledge of equity shares of the company by a director of the company d) Personal Guarantee of two directors of the company. The Term loan of
IDBI Bank is secured by: (a)
First charge by way of equitable mortgage over
company's land and building situated at Khasra No.285/1/1, Village Gari
Pipliya, Manglia, Indore (b)
Hypothecation of Plant and Machinery installed in
the factory premises situated at Khasra No. 285/1/1, Village Gari Pipliya,
Manglia, Indore (c)
Personal Guarantee of one of the director of the
company. Vehicle Loan is secured by hypothecation
against related vehicle of the company. Provision of Rs.403.450 Millions (Previous
year Rs.540.020 Millions) has been made during the year on account of premium
payable on redemption of FCCB in terms of the Offering Circular dated 18th
October, 2007, which has been charged to the General Reserve Account. The
Company has outstanding bonds at face value of USD 75 Million. Till date
neither bonds have been converted nor redeemed or cancelled. The term of the
bonds are 0% coupon, premium 7.7% YTM, Reset conversion price is Rs.484/-.
The said FCCB had fallen due on 23rd October, 2012 and the company is seeking
approval of restructuring of said FCCBs from Bondholders and concern
authorities. RBI has approved extension of maturity period in respect of said
FCCB up to 23rd April, 2013. SHORT TERM BORROWINGS The working capital
loans taken from Bank of Baroda are secured by: (a)
Hypothecation of company's entire stocks and book
debts on first pari passu charge basis (b)
On first pari passu charge basis by: I.
Equitable mortgage of company's land and building
situated at Khasra No. 821/1, Village Dharavara, Tehsil Depalpur, Indore and
at Khasra No. 285/1/2, Village Gari Pipliya, Manglia, Indore. II.
Hypothecation of Plant and Machinery installed in
the aforesaid factory premises situated at Khasra No. 821/1, Village
Dharavara, Tehsil Depalpur, Indore and at Khasra No. 285/1/2, Village Gari
Pipliya, Manglia, Indore (c)
Personal Guarantee of two directors of the
company. The working
capital loans taken from IDBI Bank are secured by: (a)
Hypothecation of company's entire stocks and book
debts on first pari passu charge basis (b)
Second charge by way of equitable mortgage over
company's land and building situated at Khasra No.285/1/1, Village Gari
Pipliya, Manglia, Indore (c)
Hypothecation of Plant and Machinery installed in
the factory premises situated at Khasra No. 285/1/1, Village Gari Pipliya,
Manglia, Indore (d)
Personal Guarantee of one of the director of the
company. The working
capital loan taken from State Bank of India is secured by: (a)
Hypothecation of company's entire stocks and book
debts on first pari passu charge basis (b)
On first pari passu charge basis by: (I)
Equitable mortgage of company's land and building
situated at Khasra No.821/1, Village Dharavara, Tehsil Depalpur, Indore and
at Khasra No. 285/1/2, Village Gari Pipliya, Manglia, Indore. (II)
Hypothecation of Plant and Machinery installed in
the aforesaid factory premises situated at Khasra No. 821/1, Village
Dharavara, Tehsil Depalpur, Indore and at Khasra No. 285/1/2, Village Gari
Pipliya, Manglia, Indore (c)
Personal Guarantee of one of the director of the
company. The working
capital loan taken from Punjab National Bank is secured by: (a)
Hypothecation of company's entire stocks and book
debts on first pari passu charge basis (b)
On first pari passu charge basis by: (c)
(i)
Equitable mortgage of company's land and building
situated at Khasra No.821/1, Village Dharavara, Tehsil Depalpur, Indore and
at Khasra No.285/1/2, Village Gari Pipliya, Manglia, Indore (ii)
Hypothecation of Plant and Machinery installed in
the aforesaid factory premises situated at Khasra No. 821/1, Village
Dharavara, Tehsil Depalpur, Indore and at Khasra No. 285/1/2, Village Gari
Pipliya, Manglia, Indore (d)
Personal Guarantee of two directors of the
company. The working
capital loan taken from Allahabad Bank is secured by: (a)
Hypothecation of company's entire stocks and book
debts on first pari passu charge basis (b)
On first pari passu charge basis by: (i)
Equitable mortgage of company's land and building
situated at Khasra No.821/1, Village Dharavara, Tehsil Depalpur, Indore and
at Khasra No.285/1/2, Village Gari Pipliya, Manglia, Indore (ii)
Hypothecation of Plant and Machinery installed in
the aforesaid factory premises situated at Khasra No. 821/1, Village
Dharavara, Tehsil Depalpur, Indore and at Khasra No. 285/1/2, Village Gari
Pipliya, Manglia, Indore (c)
Personal Guarantee of one of the director of the
company. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N.P. Gandhi and Company Chartered Accountants |
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Address : |
10, Radh Chambers, Level 3, Telli Park Lane, Andheri (East), Mumbai –
400069, Maharashtra, India |
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Tel. No.: |
91-22-26839105 |
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E-Mail : |
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Memberships : |
-- |
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Collaborators : |
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As on 31.12.2012 : |
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Significant influence of Director/ Relatives : |
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Wholly Owned Subsidiaries : |
· Plethico Global Holdings BV, Netherlands · Plethico International Limited, UAE |
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Wholly Owned Subsidiaries (Step-down): |
· Plethico US Holdings KFT, Hungary · Natrol INC, USA · Natrol Global FZ-LLC, UAE |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.340.667 Millions
As on 31.12.2012
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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60000000 |
Equity Shares |
Rs.10/- each |
Rs.600.000 Millions |
Issued Capital :
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No. of Shares |
Type |
Value |
Amount |
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34081767 |
Equity Shares |
Rs.10/- each |
Rs.340.820
Millions |
Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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34066667 |
Equity Shares |
Rs.10/- each |
Rs.340.670
Millions |
Subscribed and paid up share capital including 29109060
Equity Shares (Previous year 29109060) Equity Shares of Rs.10 each allotted as
fully paid bonus shares by way of capitalisation of General Reserve and Share
Premium.
Reconciliation of
the number of shares
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Equity Shares |
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Number
of Shares |
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Share outstanding as at the beginning of the year |
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34066667 |
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Add: Share issued during the year |
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-- |
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Share outstanding as at the end of the year |
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34066667 |
Details of equity shares held by shareholders holding more than 5%
shares:
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Name of
Shareholder |
Number
of Shares |
% holding |
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Shashikant Patel |
27388825 |
80.40% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 (15 Months) |
31.12.2012 (12 Months) |
31.12.2011 (12 Months) |
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I.
EQUITY
AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
340.667 |
340.670 |
340.670 |
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(b) Reserves & Surplus |
4,865.364 |
5,132.920 |
6,110.290 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
200.000 |
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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) |
5,206.031 |
5,473.590 |
6,650.960 |
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(3)
Non-Current Liabilities |
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(a) long-term borrowings |
418.941 |
1,302.090 |
1,517.390 |
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(b) Deferred tax liabilities (Net) |
172.374 |
168.000 |
159.590 |
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(c) Other long term
liabilities |
204.795 |
125.750 |
152.460 |
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(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current
Liabilities (3) |
796.110 |
1,595.840 |
1,829.440 |
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(4)
Current Liabilities |
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(a) Short
term borrowings |
2,279.298 |
2,189.390 |
1,441.580 |
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(b) Trade
payables |
213.839 |
228.820 |
186.120 |
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(c) Other
current liabilities |
8,361.058 |
6,942.950 |
5,953.360 |
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(d) Short-term
provisions |
625.624 |
611.360 |
291.360 |
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Total Current
Liabilities (4) |
11,479.819 |
9,972.520 |
7,872.420 |
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TOTAL |
17,481.960 |
17,041.950 |
16,352.820 |
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II.
ASSETS |
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(1)
Non-current assets |
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(a) Fixed
Assets |
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(i)
Tangible assets |
1,149.340 |
1,282.120 |
1,328.730 |
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(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
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(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
8,065.591 |
8,065.590 |
8,065.590 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
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(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
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Total Non-Current
Assets |
9,214.931 |
9,347.710 |
9,394.320 |
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(2)
Current assets |
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(a)
Current investments |
0.000 |
0.000 |
0.000 |
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(b)
Inventories |
136.414 |
225.370 |
223.280 |
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(c) Trade
receivables |
7,505.316 |
6,729.520 |
5,960.580 |
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(d) Cash
and cash equivalents |
150.980 |
260.440 |
275.320 |
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(e)
Short-term loans and advances |
474.319 |
478.910 |
494.310 |
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(f) Other
current assets |
0.000 |
0.000 |
5.010 |
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Total
Current Assets |
8,267.029 |
7,694.240 |
6,958.500 |
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TOTAL |
17,481.960 |
17,041.950 |
16,352.820 |
PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2014 (15 Months) |
31.12.2012 (12 Months) |
31.12.2011 (12 Months) |
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SALES |
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Income |
5,678.210 |
4,750.600 |
4,120.090 |
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Other Income |
7.831 |
357.590 |
812.700 |
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TOTAL (A) |
5,686.041 |
5,108.190 |
4,932.790 |
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|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1,937.853 |
2,515.550 |
2,158.250 |
|
|
|
Purchases of traded goods |
2,191.989 |
1,531.150 |
482.870 |
|
|
|
(Increase)/ decrease in inventories of finished goods, traded goods
and work in progress |
54.394 |
(9.310) |
(56.750) |
|
|
|
Employee cost |
337.037 |
289.150 |
353.950 |
|
|
|
Other Expenses |
516.065 |
503.100 |
784.640 |
|
|
|
Exceptional items |
0.000 |
(374.950) |
0.000 |
|
|
|
Extraordinary items |
0.000 |
141.750 |
630.000 |
|
|
|
TOTAL (B) |
5,037.338 |
4,596.440 |
4,352.960 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
648.703 |
511.750 |
579.830 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
627.666 |
499.260 |
771.880 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.037 |
12.490 |
(192.050) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
103.979 |
83.010 |
82.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(82.942) |
(70.520) |
(274.430) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.376 |
8.400 |
101.960 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(87.318) |
(78.920) |
(376.390) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
3175.340 |
2744.550 |
|
|
TOTAL EARNINGS |
NA |
3175.340 |
2744.550 |
|
|
|
|
|
|
|
|
|
|
CIF VALUE OF
IMPORTS |
NA |
2306.150 |
960.220 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
(2.56) |
(2.32) |
(11.05) |
|
|
|
Diluted
|
(2.56) |
(2.32) |
(9.28) |
|
QUARTERLY RESULTS
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
527.200 |
500.800 |
|
Total Expenditure |
|
498.100 |
455.600 |
|
PBIDT (Excl OI) |
|
29.100 |
45.200 |
|
Other Income |
|
(03.700) |
02.100 |
|
Operating Profit |
|
25.400 |
47.300 |
|
Interest |
|
112.800 |
99.500 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
(87.400) |
(52.200) |
|
Depreciation |
|
20.400 |
20.200 |
|
Profit Before Tax |
|
(107.800) |
(72.400) |
|
Tax |
|
0.000 |
0.000 |
|
Provisions and contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
(107.800) |
(72.400) |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
(107.800) |
(72.400) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 (15 Months) |
31.12.2012 (12 Months) |
31.12.2011 (12 Months) |
|
Net Profit Margin (PAT/Sales) |
(%) |
(1.54) |
(1.66) |
(9.14) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.42 |
10.77 |
14.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.88) |
(0.79)
|
(3.31)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.02) |
(0.01)
|
(0.04)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.52 |
0.64 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.72 |
0.77 |
0.88 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.12.2011 |
31.12.2012 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
340.670 |
340.670 |
340.667 |
|
Reserves & Surplus |
6110.290 |
5132.920 |
4865.364 |
|
Money received against share
warrants |
200.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
6650.960 |
5473.590 |
5206.031 |
|
|
|
|
|
|
long-term borrowings |
1517.390 |
1302.090 |
418.941 |
|
Short term borrowings |
1441.580 |
2189.390 |
2279.298 |
|
Total
borrowings |
2958.970 |
3491.480 |
2698.239 |
|
Debt/Equity
ratio |
0.445 |
0.638 |
0.518 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.12.2011 |
31.12.2012 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
4,120.090 |
4,750.600 |
5,678.210 |
|
|
|
15.303 |
19.526 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.12.2011 |
31.12.2012 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
4,120.090 |
4,750.600 |
5,678.210 |
|
Profit |
101.960 |
8.400 |
4.376 |
|
|
2.47% |
0.18% |
0.08% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
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 |
31.03.2014 Rs.
In Millions |
31.12.2012 Rs.
In Millions |
|
LONG TERM BORROWINGS |
|
|
|
Public Deposit |
NA |
1083.540 |
|
Interest accrued but not due on borrowings |
NA |
48.030 |
|
Total |
NA |
1131.570 |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2014
(Rs. In Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
475.494 |
505.001 |
980.495 |
|
b) Other operating income |
25.318 |
22.221 |
37.539 |
|
Total
income from Operations(net) |
500.812 |
527.222 |
1018.034 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
219.049 |
272.940 |
491.989 |
|
b) Purchases of stock in trade |
85.875 |
89.084 |
174.959 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
4.426 |
5.270 |
10.697 |
|
d) Employees benefit expenses |
83.255 |
55.856 |
139.111 |
|
e) Depreciation and amortization expenses |
20.200 |
20.400 |
40.600 |
|
f) Other expenditure |
62.009 |
74.940 |
136.949 |
|
Total expenses |
474.814 |
518.490 |
994.305 |
|
3. Profit from operations before other income and
financial costs |
25.998 |
8.732 |
33.729 |
|
4. Other income |
2.112 |
(3.720) |
(1.608) |
|
5. Profit from ordinary activities before finance costs |
28.110 |
5.012 |
32.121 |
|
6. Finance costs |
99.539 |
112.820 |
212.359 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
(71.429) |
(107.808) |
(180.238) |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax Expense: |
(71.429) |
(107.808) |
(180.238) |
|
10.Tax expenses |
0.000 |
0.000 |
0.000 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
(71.429) |
(107.808) |
(180.238) |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
(71.429) |
(107.808) |
(180.238) |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
340.667 |
340.667 |
340.667 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic |
(2.13) |
(3.16) |
(5.29) |
|
(b) Diluted |
(2.13) |
(3.16) |
(5.29) |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
9650237 |
9335737 |
9650237 |
|
- Percentage of shareholding |
28.33% |
27.40% |
28.33% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
20937385 |
21251885 |
20937385 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
85.75% |
85.93% |
85.75% |
|
Percentage of shares (as a % of total share capital of the
company) |
61.46% |
62.38% |
61.46% |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
3479045 |
3479045 |
3479045 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
14.25% |
14.25% |
14.25% |
|
Percentage of shares (as a % of total share capital of the
company) |
10.21% |
10.21% |
10.21% |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
|
Nil |
|
|
Receiving during the quarter |
|
2 |
|
|
Disposed of during the quarter |
|
2 |
|
|
Remaining unreserved at the end of the quarter |
|
Nil |
|
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10342667 |
29/06/2011 |
1,000,000,000.00 |
ALLAHABAD BANK |
Andheri West
Branch, 188 Rajesh Centre, 1st Floor, S.V. Road, Andheri-West, Mumbai -
400058, Maharashtra, India |
|
|
2 |
10284975 |
27/04/2011 * |
100,000,000.00 |
IDBI BANK
LIMITED |
Upper Ground Floor,
Captain C.S.Nayudu Arcade, 10/2, Old Palasia, Indore - 452001, Madhya
Pradesh, India |
|
|
3 |
10279768 |
08/03/2011 |
300,000,000.00 |
ALLAHABAD BANK |
Andheri West
Branch, 188 Rajesh Centre, 1st Floor, S.V. Road, Andheri-West, Mumbai - 400058,
Maharashtra, India |
|
|
4 |
10244511 |
25/09/2010 |
300,000,000.00 |
PUNJAB NATIONAL
BANK |
Sitlamata Bazar,
Indore - 452001, Madhya Pradesh, India |
|
|
5 |
10207876 |
12/08/2010 * |
150,000,000.00 |
IDBI BANK
LIMITED |
Specialised Corporate
Branch, Upper Ground Floor, Captain C.S.Nayudu Arcade, 10/2 Old Palasia,
Indore - 452001, Madhya Pradesh, India |
|
|
6 |
10207879 |
12/08/2010 * |
490,000,000.00 |
IDBI BANK
LIMITED |
Specialised Corporate
Branch, Upper Ground Floor, Captain C.S.Nayudu Arcade, 10/2 Old Palasia,
Indore - 452001, Madhya Pradesh, India |
|
|
7 |
10176114 |
18/12/2009 * |
250,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
Centre One Building,
Floor 21, World Trade Centre, Cuff Parade, Mumbai - 400005, Maharashtra,
India |
|
|
8 |
10143156 |
04/01/2009 |
2,200,000,000.00 |
BANK OF INDIA |
Indore Main
Branch, 1, Santha Bazaar, Indore - 452001, Madhya Pradesh, India |
|
|
9 |
10128332 |
29/10/2008 |
525,000,000.00 |
STATE BANK OF
INDIA |
Commercial
Branch, Near Gpo, A.B. Road,, Indore - 452001, Madhya Pradesh, India |
|
|
10 |
10113423 |
18/07/2008 |
475,000,000.00 |
BANK OF BARODA |
Siyaganj Branch,
15/16, Jawaharmarg, Indore - 452001, Madhya Pradesh, India |
|
|
11 |
10088191 |
27/03/2008 * |
600,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
Centre One
Building, Floor 21, World Trade Centre, Cuff Parade, Mumbai - 400005,
Maharashtra, India |
|
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.61.68 |
|
UK Pound |
1 |
Rs.96.93 |
|
Euro |
1 |
Rs.77.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
30 |
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.