MIRA INFORM REPORT

IDENTIFICATION DETAILS

Name :	SUVARNA FIBROTECH PRIVATE LIMITED

Country :	India

Financials (as on) :	31.03.2013

TAN No.: [Tax Deduction & Collection Account No.]	PNES15853F

PAN No.: [Permanent Account No.]	AACCS3953P

Legal Form :	Private Limited Liability Company

No. of Employees :	100 (Approximately)

BUSINESS DETAILS

Line of Business :	Manufacturer of fibre glasses composite moulded products (FRP / GRP / CFRP).

Exports :
Products :	Finished Goods
Countries :	· Dubai · Netherland

Imports :
Products :	Raw Material
Countries :	· China · US

Terms :
Selling :	L/C and Credit

Purchasing :	L/C and Credit

GENERAL INFORMATION

Customers :

End Users

No. of Employees :

100 (Approximately)

Bankers :

· Punjab National Bank , Kamla Cross Road, Pune

· Canbank Factors Limited# 67/1, Kanakapura Main Road,Basavanagudi, Bangalore - 560004, Karnataka, India

· Bank of Maharashtra, Agri Hi Tech Branch, Mangalmurti Complex, Sinhagad, Pune - 411030, Maharashtra, India

· Bank of Bahrain and Kuwait, B S C Jolly Maker Chambers Ii,225, Nariman Point, Mumbai - 400021,Maharashtra, India

Facilities :

SECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Term Loan
From Bank	0.000	48.179
Bajaj Auto Finance	0.096	0.000
Bajaj Finance Limited	0.022	0.000
ICICI Bank	0.166	0.000
ICICI Bank	0.167	0.000
India Bulls Limited	0.380	0.000
Kotak Mahindra Limited	3.634	0.000
Tata Capital	0.861	0.000
Bank of Maharashtra	23.300	0.000

SHORT TERM BORROWINGS
Loans Repayable on demand
From Bank
Bank of Maharashtra	97.304	105.773
Can Bank Factors Limited	3.883	0.000
Tata Capital	0.308	0.000
Loans and Advances from related parties
Advances	11.169	0.000
Suvarna Fibrotech Private Limited	38.249	0.000
Tractor and Farm Equipment	0.174	0.000
Suvarna Fibrotech Private Limited (Chakan)	0.234	0.000
Total	179.947	153.952

UNSECURED LOANS	31.03.2013 (Rs. in Millions)	31.03.2012 (Rs. in Millions)
LONG TERM BORROWINGS
Loans and advances from related parties	0.000	7.003

SHORT TERM BORROWINGS
Loans and advances from related parties Loan From P.I. Varghese	0.158	11.924

Total	0.158	18.927


Banking Relations :	--

Auditors :
Name :	Bhave and Bhave Associates Chartered Accountants
Address :	799, Sadashiv Peth, Swamikripa, Br Gadgil Street, Pune – 411030, Maharashtra, India
PAN No.:	AAEFB6534C

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

AS ON 30.09.2013

Name of Shareholders		No. of Shares
Palamuttam Inasu Varghese		1,681,310
Sosanna Palamatam Varghes		2,414,992
Nelvin Palamatam Varghese		20,958
Naina Konkotra Johnson		74,400
Total		4,191,660

AS ON 30.09.2013

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Other top fifty shareholders
TOTAL	100.00

FINANCIAL DATA

[all figures are in Rupees Millions]

Particulars

31.03.2014

Sales Turnover (Approximately)

400.000

Expected Sales ( 2014-2015 ) : Rs.700.000 Millions

The above information has been parted by Mr. Sanjay (Accounts Executive).

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2013	31.03.2012	31.03.2011

I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	41.917	41.917	41.917
(b) Reserves & Surplus	85.990	27.593	31.323
(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)	127.907	69.510	73.240

(3) Non-Current Liabilities
(a) long-term borrowings	28.626	53.183	79.823
(b) Deferred tax liabilities (Net)	3.141	2.950	2.911
(c) Other long term liabilities	136.326	166.096	0.000
(d) long-term provisions	0.000	0.000	0.000
Total Non-current Liabilities (3)	168.093	222.229	82.734

(4) Current Liabilities
(a) Short term borrowings	151.478	117.696	87.359
(b) Trade payables	152.366	135.562	251.371
(c) Other current liabilities	0.000	8.376	16.294
(d) Short-term provisions	6.667	0.000	6.929
Total Current Liabilities (4)	310.511	261.634	361.953

TOTAL	606.511	553.373	517.927

II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	102.969	116.121	125.788
(ii) Intangible Assets	0.606	0.665	0.881
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	3.378	7.635	5.295
(c) Deferred tax assets (net)	0.000	0.000	0.000
(d) Long-term Loan and Advances	22.298	4.105	5.344
(e) Other Non-current assets	0.000	0.000	0.000
Total Non-Current Assets	129.251	128.526	137.308

(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	131.596	144.144	93.214
(c) Trade receivables	101.258	87.738	261.109
(d) Cash and cash equivalents	2.410	7.009	1.959
(e) Short-term loans and advances	177.046	9.581	12.278
(f) Other current assets	64.950	176.375	12.059
Total Current Assets	477.260	424.847	380.619

TOTAL	606.511	553.373	517.927

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2013	31.03.2012	31.03.2011
	SALES
		Income	329.755	349.085	367.564
		Other Income	2.737	5.031	1.837
		TOTAL (A)	332.492	354.116	369.401

Less	EXPENSES
		Office Expenses
		Administrative Expenses
		Advertising Expenses
		TOTAL (B)	328.263 (Included Finance and Depreciation Expenses)	350.795 (Included Finance and Depreciation Expenses)	340.766 (Included Finance Expenses)

	PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)

Less	FINANCIAL EXPENSES (D)

	PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)				28.635

Less/ Add	DEPRECIATION/ AMORTISATION (F)				17.151

	PROFIT/ (LOSS) BEFORE TAX (E-F) (G)		4.229	3.321	11.484

Less	TAX (H)		1.116	1.654	2.800

	PROFIT/ (LOSS) AFTER TAX (G-H) (I)		3.113	1.667	8.684

	EARNINGS IN FOREIGN CURRENCY		0.020	2.778	0.899

	Earnings / (Loss) Per Share (Rs.)		0.74	0.40	--

RATING & COMMENTS

MIRA’s Rating :

Ca (16)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate

Payment Behaviour :	Slow and delayed

Litigation :	Clear

RBI DEFAILTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

LOCATIONS

Registered Office / Factory 1 :	Plot No. S-27, T Block, MIDC, Bhosari, Pune – 411026, Maharashtra, India
Tel. No.:	91-20-27122934 / 67302021 / 27120053
Mobile No.:	91-9975592362 (Mr. Praveen Kumar)
Fax No.:	91-20-66115778
E-Mail :	sanjay@suvarnagroup.net suvarna@pn3.vsnl.net.in
Website :	www.suvarnagroup.net
Location :	Owned

Factory 2 :	Located at : · Bangalore

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