MIRA INFORM REPORT
|
Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
AUNDE INDIA LIMITED |
|
|
|
|
Formerly Known
As : |
AUNDE FAZE THREE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 146, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
30.06.2013 |
|
|
|
|
Date of
Incorporation : |
03.10.1997 |
|
|
|
|
Com. Reg. No.: |
54-000196 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.107.232 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17120DN1997PLC000196 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Automotive fabrics |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company is decent. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing 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.
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.
EXTERNAL AGENCY RATING
CARE- WITHDRAWN - 29.01.2014
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Nitin Panchal |
|
Designation : |
Operator |
|
Contact No.: |
91-260-66604600 |
|
Date : |
13.10.2014 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. 146, |
|
Tel. No.: |
91-260-2668539 |
|
Fax No.: |
91-260-2668501 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
102, Shiv Smriti Chambers, 49-A, Dr |
|
Tel. No.: |
91-22-6618 8777 |
|
Fax No.: |
91-22-2493 6811 |
|
E-Mail : |
|
|
|
|
|
Branches : |
10C, Big Jo's Towers, Chennai
Office |
DIRECTORS
As on: 30.6.2013
|
Name : |
Mr. Ajay Anand |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr Rolf Konigs |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.R. J. Avadhani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.Kapil Sethi |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Reema J Mathias |
|
Designation : |
AGM Legal and Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
|
Category of
Shareholder |
Total No. of Shares |
% of Total No. of
Shares |
|
|
||
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
1287200 |
12.00 |
|
|
2124000 |
19.81 |
|
|
3411200 |
31.81 |
|
|
||
|
|
4591200 |
42.82 |
|
|
4591200 |
42.82 |
|
Total shareholding
of Promoter and Promoter Group (A) |
8002400 |
74.63 |
|
(B) Public
Shareholding |
||
|
|
||
|
|
150 |
0.00 |
|
|
150 |
0.00 |
|
|
300 |
0.00 |
|
|
||
|
|
1716539 |
16.01 |
|
|
||
|
|
647673 |
6.04 |
|
|
354130 |
3.30 |
|
|
2165 |
0.02 |
|
|
1965 |
0.02 |
|
|
200 |
0.00 |
|
|
2720507 |
25.37 |
|
Total Public
shareholding (B) |
2720807 |
25.37 |
|
Total (A)+(B) |
10723207 |
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) |
10723207 |
100.00 |
SHAREHOLDING
BELONGING TO THE CATEGORY "PROMOTER AND PROMOTER GROUP"
|
Sr.No. |
Name of the
Shareholder |
Details of Shares
held |
Total shares as a %
of diluted share capital |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|||
|
1 |
AJAY ANAND |
5,65,251 |
5.27 |
5.27 |
|
2 |
RASHMI ANAND |
2,13,750 |
1.99 |
1.99 |
|
3 |
AJAY ANAND (HUF) |
4,35,000 |
4.06 |
4.06 |
|
4 |
ANADRY INVESTMENTS PRIVATE LIMITED |
5,700 |
0.05 |
0.05 |
|
5 |
HEMAMBAR INVESTMENTS PRIVATE LIMITED |
3,15,300 |
2.94 |
2.94 |
|
6 |
INSTYLE INVESTMENTS PRIVATE LIMITED |
14,35,500 |
13.39 |
13.39 |
|
7 |
JOINT PRODUCERS PRIVATE LIMITED |
3,15,000 |
2.94 |
2.94 |
|
8 |
MAMATA FINVEST PRIVATE LIMITED |
52,500 |
0.49 |
0.49 |
|
9 |
ROHINA ANAND |
1,249 |
0.01 |
0.01 |
|
10 |
VISHNU ANAND |
1,000 |
0.01 |
0.01 |
|
11 |
SANJAY ANAND |
70,950 |
0.66 |
0.66 |
|
12 |
AUNDE ACHTER & EBELS GMBH |
45,91,200 |
42.82 |
42.82 |
|
|
Total |
80,02,400 |
74.63 |
74.63 |
SHAREHOLDING
BELONGING TO THE CATEGORY "PUBLIC" AND HOLDING MORE THAN 1% OF THE
TOTAL NO. OF SHARES
|
Sr. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares as a %
of diluted share capital |
|
|
1 |
DESANA IMPEX LIMITED |
237005 |
2.21 |
2.21 |
|
|
2 |
FORESIGHT HOLDINGS PRIVATE LIMITED |
291411 |
2.72 |
2.72 |
|
|
3 |
GREENVIEW TRACOM PRIVATE LIMITED |
291295 |
2.72 |
2.72 |
|
|
4 |
RANGILA VANIJYA PRIVATE LIMITED |
199100 |
1.86 |
1.86 |
|
|
5 |
SAGUN COMMERCIALS PRIVATE LIMITED |
244000 |
2.28 |
2.28 |
|
|
6 |
SHUB LABH INDIA MARKETING & CONSULTANTS PRIVATE LIMITED |
175148 |
1.63 |
1.63 |
|
|
7 |
NAVEEN BOTHRA |
131142 |
1.22 |
1.22 |
|
|
|
Total |
1569101 |
14.63 |
14.63 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automotive fabrics |
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Products : |
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GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
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Bankers : |
The Saraswat Co-Operative Bank Limited |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Majibail and Company Chartered Accountant Mumbai |
|
|
|
|
Advocates and
solicitors |
Vikram Philip and Associates |
|
|
|
|
Venturer : |
Aunde Achter and Ebels GMBH |
|
|
|
|
Associates : |
Madhyam vinimay private limited |
CAPITAL STRUCTURE
As on: 30.06.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10723207 |
Equity Shares |
Rs.10/- each |
Rs.107.232
Millions |
|
|
|
|
|
Reconciliation
of the shares outstanding at the beginning and at the end of the reporting
period
|
Particulars |
30th June 2013 |
|
|
|
Number |
Rs. in Millions |
|
Shares outstanding at the beginning of the year |
10,723,207 |
107.232 |
|
Shares outstanding
at the end of the year |
10,723,207 |
107.232 |
TERMS/RIGHTS ATTACHED
TO EQUITY SHARES
The Company has only one class of Equity Shares having a par value of ` 10/- per share. All the Equity Shares rank pari passu in all respect.
The company has not issued bonus shares and shares for consideration other than cash nor the company has bought back any shares during the period of five years immediately preceeding the reporting date.
DETAILS OF
SHAREHOLDERS HOLDING MORE THAN 5% SHARES IN THE COMPANY.
|
Name of Shareholder |
30th June 2013 |
|
|
|
No. of Shares held |
% of Holding in the
class |
|
Equity Shares of Rs.10/- each fully paid |
|
|
|
Aunde Achter & Ebels GmbH |
4591200 |
42.82 |
|
Ajay Anand |
565251 |
5.27 |
|
Instyle Investments Pvt Ltd |
1435500 |
13.39 |
As per of the company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
107.232 |
107.232 |
107.232 |
|
(b) Reserves & Surplus |
275.252 |
238.282 |
203.291 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
382.484 |
345.514 |
310.523 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
280.564 |
258.860 |
290.472 |
|
(b) Deferred tax liabilities (Net) |
53.671 |
52.176 |
49.760 |
|
(c) Other long term
liabilities |
40.112 |
32.679 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
374.347 |
343.715 |
340.232 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
298.002 |
264.463 |
228.417 |
|
(b) Trade
payables |
144.399 |
88.292 |
61.876 |
|
(c) Other
current liabilities |
121.543 |
68.566 |
124.596 |
|
(d) Short-term
provisions |
6.621 |
0.900 |
2.997 |
|
Total Current
Liabilities (4) |
570.565 |
422.221 |
417.886 |
|
|
|
|
|
|
TOTAL |
1327.396 |
1111.450 |
1068.641 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
549.008 |
557.510 |
538.766 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
34.468 |
0.204 |
5.762 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
583.476 |
557.714 |
544.528 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
307.383 |
247.188 |
255.000 |
|
(c) Trade
receivables |
354.301 |
261.352 |
184.249 |
|
(d) Cash
and cash equivalents |
24.271 |
14.484 |
7.296 |
|
(e)
Short-term loans and advances |
44.158 |
26.318 |
49.228 |
|
(f) Other
current assets |
13.807 |
4.394 |
28.340 |
|
Total
Current Assets |
743.920 |
553.736 |
524.113 |
|
|
|
|
|
|
TOTAL |
1327.396 |
1111.450 |
1068.641 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1131.241 |
827.582 |
699.417 |
|
|
|
Other Income |
11.081 |
1.613 |
1.442 |
|
|
|
TOTAL (A) |
1142.322 |
829.195 |
700.859 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
593.918 |
388.879 |
344.350 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(45.745) |
(15.678) |
21.101 |
|
|
|
Employees benefits expense |
47.070 |
42.852 |
33.907 |
|
|
|
Other expenses |
387.868 |
257.503 |
172.731 |
|
|
|
TOTAL (B) |
983.111 |
673.556 |
572.089 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
159.211 |
155.639 |
128.770 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
68.956 |
69.331 |
54.594 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
90.255 |
86.308 |
74.176 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/ AMORTISATION (F) |
42.170 |
39.188 |
33.848 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.085 |
47.120 |
40.328 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
11.116 |
12.128 |
8.110 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.969 |
34.992 |
32.218 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
152.536 |
16.942 |
0.400 |
|
|
TOTAL EARNINGS |
152.536 |
16.942 |
0.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
97.540 |
68.899 |
77.397 |
|
|
|
Stores & Spares |
2.924 |
5.670 |
3.295 |
|
|
|
Capital Goods |
17.819 |
36.445 |
25.409 |
|
|
TOTAL IMPORTS |
118.283 |
111.014 |
106.101 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.45 |
3.26 |
3.00 |
|
QUARTERLY /
SUMMARISED RESULTS
|
Particulars (Rs.
Millions) |
Jun 2014 |
Mar 2014 |
Dec 2013 |
Sep 2013 |
|
Audited / UnAudited |
UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
315.500 |
342.600 |
281.400 |
410.000 |
|
Total Expenditure |
288.400 |
298.000 |
235.200 |
365.900 |
|
PBIDT (Excl OI) |
27.100 |
44.600 |
46.200 |
44.100 |
|
Other Income |
1.100 |
6.700 |
1.000 |
3.200 |
|
Operating Profit |
28.200 |
51.300 |
47.300 |
47.300 |
|
Interest |
24.700 |
22.500 |
21.300 |
19.900 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
3.500 |
28.800 |
26.000 |
27.500 |
|
Depreciation |
7.600 |
11.400 |
11.100 |
11.100 |
|
Profit Before Tax |
(4.100) |
17.400 |
14.900 |
16.400 |
|
Tax |
1.200 |
3.500 |
3.000 |
3.300 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(5.300) |
14.000 |
11.900 |
13.100 |
|
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 |
(5.300) |
14.000 |
11.900 |
13.100 |
KEY RATIOS
|
PARTICULARS |
|
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
PAT / Total Income |
(%) |
3.24 |
4.22 |
4.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.25 |
5.69 |
5.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.72 |
4.24 |
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.14 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.51 |
1.51 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.31 |
1.25 |
FINANCIAL ANALYSIS
[All figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
107.232 |
107.232 |
107.232 |
|
Reserves & Surplus |
203.291 |
238.282 |
275.252 |
|
Net worth |
310.523 |
345.514 |
382.484 |
|
|
|
|
|
|
long-term borrowings |
290.472 |
258.860 |
280.564 |
|
Short term borrowings |
228.417 |
264.463 |
298.002 |
|
Total borrowings |
518.889 |
523.323 |
578.566 |
|
Debt/Equity ratio |
1.671 |
1.515 |
1.513 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.06.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
699.417 |
827.582 |
1131.241 |
|
|
|
18.325 |
36.692 |
NET PROFIT MARGIN
|
Net Profit Margin |
30.06.2011 |
30.06.2012 |
30.06.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
699.417 |
827.582 |
1131.241 |
|
Profit |
32.218 |
34.992 |
36.969 |
|
|
4.61% |
4.23% |
3.27% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT:
(Rs.
in Millions)
|
Particulars |
30.06.2013 |
30.06.2012 |
30.06.2011 |
|
Current Maturities Of Long Term Debt: |
42.420 |
50.448 |
43.536 |
|
|
|
|
|
|
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 |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
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 |
Yes |
UNSECURED LOAN
|
Particulars |
As on 30.06.2013 |
As on 30.06.2012 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
Loans |
161.055 |
127.518 |
|
Total |
161.055 |
127.518 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10488143 |
25/03/2014 |
30,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
THE SARASWAT
CO-OPERATIVE BANK LIMITED, 1ST FLOOR |
C02281004 |
|
2 |
10449311 |
30/08/2013 |
40,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B85119337 |
|
3 |
10449318 |
26/08/2013 |
34,530,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B85120467 |
|
4 |
10445966 |
14/08/2013 |
5,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B83518894 |
|
5 |
10445103 |
14/08/2013 * |
37,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B83518100 |
|
6 |
10436767 |
02/07/2013 |
8,900,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B79580478 |
|
7 |
10429229 |
06/05/2013 |
1,850,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B76364983 |
|
8 |
10420100 |
28/03/2013 |
3,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM
ENTERPRISES BR, POPATLAL NIWAS,, 1ST FLR, RANADE ROAD, DADAR, MUMBAI,
MAHARASHTRA |
B73301624 |
|
9 |
10404892 |
24/01/2013 |
5,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B68688175 |
|
10 |
10400392 |
21/01/2013 |
1,850,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B67048520 |
|
11 |
10396693 |
24/12/2012 |
2,042,534.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
RASEC DADAR BRANCH,
LAXMAN ZULLA, 1ST FLOOR, 50, |
B65783946 |
|
12 |
10374557 |
10/12/2012 * |
50,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, POPATLAL NIWAS,, 1ST FLOOR, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B65490443 |
|
13 |
10325371 |
06/03/2013 * |
18,450,000.00 |
THE SARASWAT CO-OP. BANK LIMITED |
SME BRANCH-DADAR, POPATLAL NIWAS, 1ST FLOOR,, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B73302267 |
|
14 |
10321087 |
10/12/2012 * |
22,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, POPATLAL NIWAS,, 1ST FLOOR, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B65489676 |
|
15 |
10321090 |
10/12/2012 * |
44,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, POPATLAL NIWAS,, 1ST FLOOR, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B65490146 |
|
16 |
10321080 |
10/12/2012 * |
145,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, POPATLAL NIWAS,, 1ST FLOOR, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B65489387 |
|
17 |
10321094 |
10/12/2012 * |
300,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME BRANCH, POPATLAL NIWAS,, 1ST FLOOR, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B65488686 |
|
18 |
10321093 |
30/08/2013 * |
395,500,000.00 |
THE SARASWAT CO-OPERATIVE BANK LTD. |
SMALL AND MEDIUM ENTERPRISES BRANCH,, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR,, MUMBAI, MAHARASHTRA - 400028, INDIA |
B85119956 |
|
19 |
10321084 |
15/11/2011 |
115,000,000.00 |
THE SARASWAT C0-OPERATIVE BANK LTD. |
SME BRANCH, POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD, DADAR(WEST),, MUMBAI, MAHARASHTRA - 400028, INDIA |
B26815407 |
OPERATING RESULTS
Subject recorded a significant growth of 36.58% in gross turnover from Rs.918.243 Millions in the previous year to Rs.1254.136 Millions in FY 2012-13. This is the highest turnover recorded by the Company achieving a milestone of 100 Crores in the current year
The revenues (net of excise) for FY 2012-13 of Rs.1131.241 Millions as against previous years Rs. 827.581 Millions grew by 36.70% over last year due to strong growth in volumes across products, markets and range of fabrics offered by the Company. The Profit before Tax and Profit after Tax were Rs. 48.086 Millions and Rs. 36.970 Millions, showing a growth of 2.3% & 5.7% respectively.
BUSINESS OVERVIEW
FY 2012-13 was a challenging year for the economy, both globally and in India. The world economy grew by a mere 3.1% in 2012 as compared to 3.9% in the previous year. The domestic situation in India was influenced by these global trends and the ripple effect of a global slowdown was felt. After years of strong positive growth, the Indian economy slowed down to a GDP of 5% from 6.5% in the previous year.
The automotive textile industry is highly dependent on the growth of the Automobile Industry and the sluggish growth of automobile industry suppreses the growth of auto textile industry. AUNDE India is also highly dependent upon the OEM's demand for the seat fabric manufactured by the Company. The demand for passenger vehicles was affected mainly by weak sentiments, high cost of ownership, high interest rates, fuel prices and reduction in discretionary spends. Overall growth in Domestic passenger vehicle industry was flat in FY 2012-13.
Aunde India has continued on its growth path by achieving a milestone turnover of Rs. 1250.000 Millions recording a highest growth of 36.58%. Company's exports of Rs. 165.000 Millions have contributed to boost sales. Going forward, company is hoping to get ample exports orders in current year. The company is determined to maintain its turnover this year as well. The Company's efforts will be aiming towards maintaining its market share of 40% by offering range of automotive fabrics and to be competitive in the domestic market. The exports are growing slower due to global slowdown, however, the company is hoping that once the global markets will start gearing up, the company is very confident that it will be able to locate new end users through AUNDE Global Group and expand its exports market as well.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
COMPANY OVERVIEW AND
OUTLOOK
The year 2012-13 was also challenging to the company, to maintain its volumes and profitability like previous year. The domestic sales were under pressure due to lower demand for fabrics. However, increase in exports has played a major role in achieving higher turnover.
The Company's team is working on the Integrated Development Process by which the company can curb undue delays in processing fabric and monitor the entire process so qualitative issues can be addressed. The well-equipped design team is working on the various design and fabric development projects and they are closely working with other Group members so that Aunde India can contribute to various design and fabric development programs conducted by AUNDE Global Group, which in turn will help the company to get better export orders in the coming years.
The company is well aware of the current market and cost trends, which are quite volatile. Considering above factors, the company has framed its sourcing policies and effective cost control techniques to reduce the strain on its working capital and as well as on margins. The Company going forward hopes that the Indian auto market will show positive trend while global economy will start flourishing again, Aunde India will be ready to face the new challenges of being competitive in the market and will focus on achieving higher sales growth.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 31st MARCH,
2014
|
Sr. No. |
Particulars |
Rs in Millions |
Rs in Millions |
|||
|
Quarter ended |
9 months ended |
|||||
|
as on 30.06.2014 |
As on 31.12.2013 |
As on 30.06.2013 |
||||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||||
|
|
|
|
|
|
||
|
1 |
(a) Gross Sales/Income from Operations |
383.131 |
311.065 |
896.481 |
||
|
|
Less : Excise Duty |
40.535 |
29.664 |
87.080 |
||
|
|
(b)Other Operating Income |
-- |
-- |
-- |
||
|
|
Total Income
From Operations (Net) |
342.596 |
281.401 |
809.401 |
||
|
2 |
Expenditure |
|
|
|
||
|
|
(a) |
Cost of Materials Consumed |
231.324 |
242.101 |
518.259 |
|
|
|
(b) |
Purchases of Stock-in-Trade |
-- |
-- |
|
|
|
|
(c) |
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(27.280) |
(81.207) |
(16.462) |
|
|
|
(d) |
Employees benefits expense |
15.466 |
14.878 |
35.081 |
|
|
|
(e) |
Depreciation and amortization expense |
11.357 |
11.084 |
31.706 |
|
|
|
(f ) |
Other expenses |
78.463 |
59.396 |
162.522 |
|
|
|
|
TOTAL (B) |
309.330 |
246.251 |
731.106 |
|
|
|
|
|
|
|
||
|
3 |
Profit from operation before other income, interest and other
exceptional items(1-2) |
33.266 |
35.149 |
78.296 |
||
|
4 |
Other Income |
6.650 |
1.019 |
4.774 |
||
|
5 |
profit before interest and exceptional items(3+4) |
39.916 |
36.168 |
83.069 |
||
|
6 |
Interest |
22.473 |
21.269 |
48.626 |
||
|
7 |
Profit after interest but before exceptional items(5-6) |
17.443 |
14.900 |
34.443 |
||
|
8 |
Exceptional Items |
-- |
-- |
-- |
||
|
9 |
Profit(+)/Loss(-) from Ordinary Activities before tax (7-8) |
17.443 |
14.900 |
34.443 |
||
|
10 |
Tax Expenses |
3.492 |
2.9777 |
6.891 |
||
|
11 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10) |
13.951 |
11.923 |
27.552 |
||
|
12 |
Extra Ordinary Items |
-- |
-- |
-- |
||
|
13 |
Net Profit(+)/Loss(-) for the period (1112) |
13.951 |
11.923 |
27.552 |
||
|
14 |
Paid-up Equity Share Capital Rs.10/ per share |
107.232 |
107.232 |
107.232 |
||
|
15 |
Reserves excluding revaluation reserves |
-- |
-- |
-- |
||
|
16 |
Earning Per
Share |
|
|
|
||
|
(a) |
Basic and diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
1.30 |
1.11 |
2.57 |
||
|
(b) |
Basic and diluted EPS after Extraordinary
items for the period, for the year to date and for the previous year(not to
be annualised) |
1.30 |
1.11 |
2.57 |
||
|
17 |
Public
Shareholding |
|
|
|
||
|
|
Number of Shares |
2720807 |
2720807 |
1540807 |
||
|
|
Percentage of Shareholding |
25.37 |
25.37 |
14.37 |
||
|
18 |
Promoters and Promoter group |
|
|
|
||
|
|
a) Pledged/Encumbered |
|
|
|
||
|
|
Number of shares |
--- |
--- |
--- |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
--- |
--- |
--- |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
--- |
--- |
--- |
||
|
|
b) Non-encumbered |
|
|
|
||
|
|
Number of shares |
8002400 |
8002400 |
9182400 |
||
|
|
Percentage of Shares (as a % of the total shareholding of promoter and
promoter group) |
100.00 |
100.00 |
100.00 |
||
|
|
Percentage of Shares (as a % of the total share capital of the
Company) |
73.63 |
74.63 |
85.64 |
||
|
|
Particulars |
|
|
3 months ended 30.06.2014 |
||
|
|
INVESTOR
COMPLAINTS |
|
|
|
||
|
|
Pending at the beginning of the quarter |
|
|
NIL |
||
|
|
Received during the quarter |
|
|
2 |
||
|
|
Disposed off during the quarter |
|
|
2 |
||
|
|
Remaining unresolved at the end of the quarter |
|
|
NIL |
||
|
Notes: |
|
1. The above results were reviewed by the Audit Committee and were taken on record by the Board of Directors at their respective meetings held on August 30, 2014 and Statutory Auditors of the Company have carried out an audit of the above results. 2. The Accounting standard No. 17 relating to segment-wise reporting is not applicable as the company operates in only one segment viz. Technical Fabric.
|
FIXED ASSETS
- Land
- Building
- Plant & Machinery
- Furniture & Fixtures
- Office Equipments
- Electrical Installation
- Vehicles
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 judgment 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.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
JAY |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
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 |
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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.