MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

VINAY INDUSTRIES LIMITED (w.e.f.09.05.2008)

 

 

Formerly Known As :

VINAY SOLVENT EXTRACTION INDUSTRIES LIMITED (w.e.f.04.04.2008)

 

VINAY SOLVENT EXTRACTION INDUSTRIES PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

RKTV00144E

 

 

PAN No.:

[Permanent Account No.]

AABCV1647C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

No. of Employees :

125 (Approximately)

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturing of Edible Oils and also Generation of Electricity.

 

 

Products :

ITC Code No.

 

Product Descriptions

15122910

Other Cotton Seed Oil of Edible Grade

15132910

Refined Palm Oil

23050020

Oil-Cake and Oil-Cake Meal Of Groundnut Slvnt Extracted

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Taiwan

·         China

·         Vietnam

·         Singapore

·         Jordon

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Singapore

·         Malaysia

·         China

 

 

Terms :

 

Selling :

Cash / L/C / Credit

 

 

Purchasing :

Cash / L/C / Credit

 

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers and End Users

 

 

No. of Employees :

125 (Approximately)

 

 

Bankers :

·         Axis Bank Limited

Shop 1,2,3 Raiji Nagar Shopping Centre, N K Mehta Road, Moti Baug,, Junagadh - 362001, Gujarat, India

 

·         State Bank Of India

1st Floor, Mahila Samaj Building, Diwan Chowk,, Junagadh - 362001, Gujarat, India

 

·         Corporation Bank

IFB Branch, Rangoli Complex, 1st Floor, Opposite V.S. Hospital, Ellishbridge, Ahmedabad - 380006, Gujarat, India

 

 

Facilities :

 

SECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Loans taken for vehicles

1.844

1.076

Loans taken for other fixed assets

0.000

7.822

SHORT TERM BORROWINGS

 

 

Working capital loans from banks

(All the Above is secured against Primary Security of Hypothecation of Stock and Book Debts and collateral security by hypothecation of Factory located at Junagadh & Bareja)

206.292

186.984

 

 

 

Total

 

208.136

195.882

 

 

UNSECURED LOANS

31.03.2013

(Rs. In Millions)

31.03.2012

(Rs. In Millions)

LONG-TERM BORROWINGS

 

 

Loans and advances from directors

6.917

15.134

Loans and advances from others

24.298

37.007

 

 

 

Total

 

31.215

52.141

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Baheti Bhadada and Associates

Chartered Accountants

Address :

201, Shaily Complex, Opposite Loha Bhavan, Old Gujarat High Court Lane, Navrangpura, Ahmedabad – 380009, Gujarat, India

PAN No.:

AAEFB4057A

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 15.06.2013

 

Names of Shareholders

 

No. of Shares

 

Kanaiyalal Veljibhai Domadia

 

1586721

Vijay Kanaiyalal Domadia

 

961716

Darshnaben Kanaiyalal Domadia

 

1246452

Piyush Domadia Kanaiyalal

 

773825

Pragnaben Kanaiyalal Domadia

 

559736

Amiben Piyush Domadia

 

454311

Beenaben Vijay Domadia

 

455649

Kanaiyalal V. Domadia

 

245433

Rameshchandra Veljibhai Domadia

 

988697

Radhaben Rameshchandra Domadia

 

308733

Naimish Rameshchandra Domadia

 

15300

Keyul Rameshchandra Domadia

 

104323

Hemantbhai Vallabhbhai Domadia

 

5000

Keshavlal Vallabhbhai Domadia

 

5000

Sureshbhai Jagjivanbhai Thummar

 

93403

Rameshchandra V. Domadia (HUF)

 

264329

Shrusti Vijaybhai Domadia

 

61575

Samarth Piyush Domadia

 

125530

Simran Nishitbhai Domadia

 

44267

 

 

 

Total

 

 

8300000

 

 

AS ON 23.10.2013

 

Names of Allottees

 

No. of Shares

 

Kanubhai V. Domadia

 

219158

Piyush Domadia Kanaiyalal

 

111362

Vijay Kanaiyalal Domadia

 

206475

Amiben Piyush Domadia

 

269160

Beenaben Vijay Domadia

 

237604

Darshnaben Kanaiyalal Domadia

 

299119

Keyul Rameshchandra Domadia

 

41812

K. V. Domadia (HUF)

 

24303

Pragnaben Kanaiyalal Domadia

 

194509

Radhaben Rameshchandra Domadia

 

173025

Rameshchandra Veljibhai Domadia

 

107059

Rameshchandra V. Domadia (HUF)

 

25946

Shrusti Vijaybhai Domadia

 

2734

Sureshbhai Jagjivanbhai Thummar

 

46991

Samarth Piyush Domadia

 

1459

Naimish Rameshchandra Domadia

 

39284

 

 

 

Total

 

 

2000000

 

 

AS ON 15.06.2013

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

 

 

Total

 

100.00

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

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

83.000

77.491

57.491

(b) Reserves & Surplus

20.295

8.779

1.839

(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)

103.295

86.270

59.330

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

33.059

61.039

40.664

(b) Deferred tax liabilities (Net)

0.000

0.560

0.962

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

33.059

61.599

41.626

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

206.292

186.984

131.842

(b) Trade payables

24.642

131.447

37.537

(c) Other current liabilities

10.431

13.952

14.610

(d) Short-term provisions

9.584

7.160

0.000

Total Current Liabilities (4)

250.949

339.543

183.989

 

 

 

 

TOTAL

387.303

487.412

284.945

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

51.354

50.224

55.725

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

12.176

4.216

4.097

(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)

0.115

0.000

0.000

(d)  Long-term Loan and Advances

6.131

3.440

3.440

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

69.776

57.880

63.262

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

242.119

215.720

96.748

(c) Trade receivables

60.155

193.917

111.181

(d) Cash and cash equivalents

2.285

3.523

3.210

(e) Short-term loans and advances

12.968

16.185

10.169

(f) Other current assets

0.000

0.187

0.375

Total Current Assets

317.527

429.532

221.683

 

 

 

 

TOTAL

387.303

487.412

284.945

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Revenue from operations

1751.614

1379.917

1164.695

 

 

Other Income

18.844

3.680

4.222

 

 

TOTAL                                     (A)

1770.458

1383.597

1168.917

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

1194.285

896.392

888.714

 

 

Purchases of stock-in-trade

365.471

370.703

145.438

 

 

Changes in inventories of finished goods, work-in-progress and stock-in-trade

(27.514)

(39.796)

26.812

 

 

Employee benefit expense

13.064

9.609

8.981

 

 

Other expenses

169.944

102.817

59.000

 

 

TOTAL                                     (B)

1715.250

1339.725

1128.945

 

 

 

 

 

Less

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

55.208

43.872

39.972

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

22.847

20.931

23.531

 

 

 

 

 

 

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

32.361

22.941

16.441

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

8.749

8.108

7.036

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

23.612

14.833

9.405

 

 

 

 

 

Less

TAX                                                                  (H)

4.379

2.489

0.601

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

19.233

12.344

8.804

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

695.531

341.809

270.508

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.36

2.11

2.00

 

 

Particulars

 

 

 

31.03.2014

Sales Turnover

 

 

1860.000

 

The above information has been parted by Mr. Rajesh Kokadia

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (30)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAULTERS’ LIST STATUS

 

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

 

LOCATIONS

 

Registered Office :

C/O. Gujarat Agro Processors, N.H. No. 8, Bareja Gam, Bareha, Daskoi, Ahmedabad - 382425, Gujarat, India

Tel. No.:

Not Available

Fax No.:

Not Available

E-Mail :

bba_201@yahoo.co.in

pmdatta@yahoo.com

vinsomany@gmail.com

 

 

Factory :

Out Side Majevadi Gate, Dhoraji Road, Junagadh - 362001, Gujarat, India

Tel. No.:

91-285-2661797/ 2661794

Fax No.:

91-285-2660944

E-Mail :

vinsomany@rediffmail.com

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.