IDENTIFICATION DETAILS
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Name : |
SWASTIK CERACON LIMITED (w.e.f. 27.04.2010) |
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Formerly Known
As : |
MARBOLITE GRANITO INDIA LIMITED |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM07596B |
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PAN No.: [Permanent Account No.] |
AAFCM4519E |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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No. of Employees
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700 (Approximately) |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Tiles. |
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Products : |
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Exports : |
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Products : |
Finished Good |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Suppliers : |
Sabarmathi Gas Limited |
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Customers : |
Others · Swastick Tiles |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Finance Branch, 2nd Floor, Neptune Annexe, Ellisbridge, Ahmedabad - 380006, Gujarat, India The Mehsana Uraban Co Operative Bank Limited Dena Bank |
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Facilities : |
NOTE The secured loans from State Bank of India, Dena Bank and
The Mehsana Uraban Co Operative Bank Limited are secured by hypothecation of
Plant and Machinery, EM over Land, at. Unit 1 - 254, Village Palaj, Dist.
Mehsana, Gujarat, Unit 2 , Survey No. 25, Shobhasan, Mehsana,Gujarat, Unit 3
, Survey No. 1071-1074, Nandasan, Ta: Kadi, mehsana and Unit 4 , Block no.
180-P, Dalpur, Ta: prantij, Dist: Sabarkantha, Gujarat Further secured by the
hypothecation of entire present and future current assets of the company and
second charge over the fixed assets of an associate concern
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Banking Relations
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-- |
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Financial Institution: |
Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi – 110017, India |
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Auditors : |
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Name : |
R.R.S and Associates Chartered Accountants |
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Address : |
211, Kamal Complex, Opposite State Bank of India, Near Stadium Circle , Navrangpura, Ahmedabad, Gujarat, India |
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Income-tax
PAN of auditor or auditor's firm : |
AAFFR0472A |
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Associate: |
· Gladder Ceramics Limited CIN No.:U26933GJ2002PLC041253 Vimal Oil and Foods Limited CIN No.:L15400GJ1992PLC017626 |
MAJOR SHAREHOLDERS
AS ON 28.09.2013
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Name of
Shareholders |
No. of Shares |
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Girishbhai J.
Patel |
3205223 |
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Jayendra Bhai
Patel |
5000 |
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Pankajbhai N.
Patel |
617073 |
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Rakeshbhai
Kacharabhai Patel |
406248 |
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Ramanbhai M.
Patel |
9000 |
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Sanjaybhai N.
Patel |
265190 |
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Vijaybhai
Dinkarrai Maniar |
866218 |
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Anilbhai
Shankarlal Patel |
269658 |
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Arvindkumar
Dwarkadas Patel |
361810 |
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Babubhai
Shankarbhai Patel |
278319 |
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Bhagvatiben
Ramanbhai Patel |
90000 |
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Bipinbhai
Mulshakarbhai Patel |
410474 |
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Chandubhai
Bhikhabhai Patel |
214302 |
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Dixitbhai
Chandubhai Patel |
55187 |
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Hansaben
Anilbhai Patel |
13000 |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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I.
EQUITY
AND LIABILITIES |
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(1)Shareholders'
Funds |
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(a) Share Capital |
222.117 |
118.000 |
118.000 |
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(b) Reserves & Surplus |
295.999 |
89.656 |
64.332 |
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(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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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) |
518.116 |
207.656 |
182.332 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
505.329 |
258.661 |
264.496 |
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(b) Deferred tax liabilities (Net) |
52.969 |
19.449 |
12.895 |
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(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total Non-current Liabilities (3) |
558.298 |
278.110 |
277.391 |
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(4) Current Liabilities |
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(a) Short term borrowings |
490.115 |
138.245 |
122.047 |
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(b) Trade payables |
311.849 |
136.758 |
106.155 |
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(c) Other current
liabilities |
183.096 |
66.097 |
69.205 |
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(d) Short-term provisions |
20.984 |
7.139 |
8.550 |
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Total Current Liabilities (4) |
1,006.044 |
348.239 |
305.957 |
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TOTAL |
2,082.458 |
834.005 |
765.680 |
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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 |
1,002.399 |
448.060 |
437.487 |
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(ii) Intangible Assets |
0.513 |
0.129 |
0.042 |
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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 |
5.592 |
0.000 |
0.000 |
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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 |
11.627 |
1.660 |
17.220 |
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Total Non-Current Assets |
1,020.131 |
449.849 |
454.749 |
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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 |
470.264 |
173.765 |
145.516 |
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(c) Trade receivables |
462.115 |
151.366 |
119.436 |
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(d) Cash and cash
equivalents |
26.533 |
8.433 |
8.084 |
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(e) Short-term loans and
advances |
6.505 |
2.226 |
11.683 |
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(f) Other current assets |
96.910 |
48.366 |
26.212 |
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Total Current Assets |
1,062.327 |
384.156 |
310.931 |
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TOTAL |
2,082.458 |
834.005 |
765.680 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
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SALES |
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Income |
1716.878 |
769.378 |
665.354 |
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Other Income |
15.271 |
1.527 |
3.354 |
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TOTAL (A) |
1732.149 |
770.905 |
668.708 |
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Less |
EXPENSES |
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Cost of materials consumed |
584.890 |
219.217 |
213.937 |
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Purchases of stock-in-trade |
8.204 |
42.985 |
20.411 |
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Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(36.832) |
(25.020) |
(55.581) |
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Employee benefit expense |
198.149 |
58.857 |
46.669 |
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Other expenses |
738.361 |
350.863 |
326.303 |
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TOTAL (B) |
1492.772 |
646.902 |
551.739 |
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PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
239.377 |
124.003 |
116.969 |
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Less |
FINANCIAL
EXPENSES (D) |
143.044 |
61.472 |
50.551 |
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PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
96.333 |
62.531 |
66.418 |
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Less |
DEPRECIATION/
AMORTISATION (F) |
18.467 |
29.890 |
26.648 |
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PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
77.866 |
32.641 |
39.770 |
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Less |
TAX (H) |
4.932 |
7.317 |
(2.694) |
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PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
72.934 |
25.324 |
42.464 |
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EARNINGS IN
FOREIGN CURRENCY |
5.744 |
0.000 |
0.000 |
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IMPORTS |
NA |
NA |
41.009 |
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Earnings /
(Loss) Per Share (Rs.) |
3.28 |
2.15 |
2.54 |
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FUTURE PROSPECTS
The Hon’ble Gujarat High Court has already approved the Amalgamation scheme, by which Ashok Ceracon Private Limited (ACPL), Akik Tiles Limited (ATL) and Gladder Ceramics Limited (GCL) were merged with The Company and the company become a resultant Company.
The Amalgamation of ACPL, ATL and GCL into SCL will result into consolidation of the business of all the companies in one entity and strengthening the position of the merged entity by enabling it to harness and optimize the synergies of all the four companies. Further, it will also result in reduction of overheads and other expenses, facilitate administrative convenience and ensure optimum utilization of available services and resources.
Consequent to the above developments, the Company’s capacity stands augmented to 1,95,000 MTPA, placing it among the top tiles manufacturing companies in the State and Country.
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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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
LOCATIONS
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Registered /
Corporate Office: |
D/801-807, Ganesh Meridian, Opposite Amiraj Farm, Nr. Gujarat High Court,
S.G. Highway, Ahmedabad – 380060, Gujarat, India |
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Tel. No. : |
91-79-40097072 |
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Mobile No. : |
91-9909964923 (Mr. Parth Shah) |
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Fax No. : |
91-79-29244721 |
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E-Mail : |
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Website : |
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Location: |
Owned |
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Factory 1: |
At P.O. Palaj, Mehsana-Becharaji Road, Taluka: Mehsana –
384410, Gujarat, India |
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Factory 2: |
25, Sobhasan Road, Mehsana – 384002, Gujarat, India |
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Factory 3: |
At P.O. Nandasan, Ahmedabad-Mehsana Highway, Taluka: Kadi,
Mehsana – 382706, Gujarat, India |
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Factory 4: |
Ceramic Zone, St. At P.O. Dalpur, Katwad Road, Ahmedabad-Himatnagar
Highway, District: Sabarkantha, Himatnagar – 383120, Gujarat, India |
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Regional Office /
Showrooms: |
Located at Ahmedabad New Delhi Mumbai Chennai Cochin |
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.