MIRA
INFORM REPORT
|
Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME TEX MART LIMITED (w.e.f. 05.09.2003) |
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Formerly Known
As : |
SUPREME WOOLLEN MILLS LIMITED |
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Registered
Office : |
424, Industrial Area – A, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.10.1988 |
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Com. Reg. No.: |
16-016933 |
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Capital
Investment / Paid-up Capital : |
Rs. 340.556 Millions |
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CIN No.: [Company Identification
No.] |
L17117PB1988PLC016933 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JLDM02038B |
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PAN No.: [Permanent Account No.] |
AAHCS9897D |
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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
: |
Manufacturer of Garments. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 8000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes tat many things such as apartment sales,
luxury products, etc. were largely bought with dirty money. And it is now
beginning to impact consumption. This may indeed be bad news for an economy
that is struggling to transition from an investment-driven export-oriented
economy to a domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
11.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk |
|
Date |
11.11.2013 |
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 corporative (91-161-2600593)
LOCATIONS
|
Registered Office : |
424, Industrial Area – A, , Ludhiana – 14103, Punjab,
India |
|
Tel. No.: |
91-161-2600593 / 2222719 / 6614400 / 2510622 / 2510320 / 2510097 |
|
Mobile No.: |
91-9915700175 (Mr. Robin Vijan) 91-9915710123 (Gaurav Mehra) |
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Fax No.: |
91-161-2609949 / 2510584 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
Spinning Unit – 1
and 2 Village Kanganwal. P.O. Jugiana, Ludhiana, Punjab, India |
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Factory 2 : |
Dyeing Unit and
Hand Knitting Yarn Unit B – 72, Phase – VIII, Focal Point, Ludhiana, Punjab, India |
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Factory 3 : |
Garment Unit Village Paharuwal, Ludhiana, Punjab, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Sanjay Gupta |
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Designation : |
Whole-time Director |
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Name : |
Mr. B B Goel |
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Designation : |
Independent Director |
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Name : |
Mr. R. C. Singal |
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Designation : |
Independent Director |
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Name : |
Mr. Marsel Menda |
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Designation : |
Director |
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Name : |
Mr. Rajive Bambri |
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Designation : |
Additional Director |
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Name : |
Mr. Daljeet Singh Sandhu |
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Designation : |
Additional Director |
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Name : |
Mr. Ashok Kumar Singla |
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Designation : |
Additional Director |
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Name : |
Mr. Ajay Gupta |
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Designation : |
Managing Director |
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Name : |
Mr. Gautam Gupta |
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Designation : |
Joint Managing Director |
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Name : |
Mr. Kuldeep Sing |
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Designation : |
Director |
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KEY EXECUTIVES
|
Name : |
Mr. Robin Vijan |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as
a % of Total No. of Shares |
|
|
|
As a % of (A+B) |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
30739080 |
45.05 |
|
|
7350000 |
10.77 |
|
|
1645222 |
2.41 |
|
|
39734302 |
58.24 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
39734302 |
58.24 |
|
(B) Public Shareholding |
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|
|
|
|
|
|
|
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|
5699372 |
8.35 |
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|
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|
1550052 |
2.27 |
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|
12481308 |
18.29 |
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|
8765201 |
12.85 |
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|
73169 |
0.11 |
|
|
186640 |
0.27 |
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|
8466940 |
12.41 |
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|
38452 |
0.06 |
|
|
28495933 |
41.76 |
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Total Public shareholding (B) |
28495933 |
41.76 |
|
Total (A)+(B) |
68230235 |
100.00 |
|
(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 |
|
Total (A)+(B)+(C) |
68230235 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Garments. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
· State Bank of India · Punjab National Bank · UCO Bank · Allahabad Bank ·
Central Bank of India |
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Facilities : |
Note: Long Term
Borrowing · Indian rupee term loan amounting to Rs. 57.500 Millions from State Bank of India carries interest @ 9.20% p.a. net of TUF subsidy. The loan is repayable in 31 quarterly installments of Rs.1.854 Millions each along with interest commencing from 01.10.2007. * · Indian rupee term loan amounting to Rs. 840.000 Millions from State Bank of India carries interest @ 10.00% p.a. net of TUF subsidy. The loan is repayable in 30 monthly installments of Rs. 4.200 Millions each, next 30 monthy instalments of Rs. 9.800 Millions each, next 35 monthly installments of Rs. 11.666 Millions each and last one monthly installment of Rs. 11.690 Millions along with interest. These installments have been started from 01.12.2010. * · Indian rupee term loan amounting to Rs. 750.000 Millions from Punjab National Bank carries interest @ 8.00% p.a. net of TUF subsidy. The loan is repayable in 30 monthly installments of ` 37.50 lacs each, next 30 monthly instalments of Rs.8.750 Millions each, next 35 monthly installments of Rs. 10.416 Millions each and last one monthly installment of Rs.10.440 Millions along with interest. These installments have been started from 01.12.2010. * · Indian rupee term loan amounting to Rs.135.000 Millions from Punjab National Bank carries interest @ 8.84% p.a. net of TUF subsidy. The loan is repayable in 96 monthly installments of Rs. 1.406 Millions each along with interest commencing rom 01.01.2011. * · Indian rupee term loan amounting to Rs. 231.994 Millions from Punjab National Bank carries interest @ 9.65% p.a. The loan is repayable in 77 monthly installments of Rs.3.021 Millions each along with interest commencing from 01.04.2012. * · Indian rupee term loan amounting to `Rs. 90.000 Millions from UCO Bank carries interest @ 7.70% p.a. net of TUF subsidy. The loan is repayable in 96 monthly installments of Rs. 0.937 Millions each along with interest commencing from 01.12.2010. * · Indian rupee term loan amounting to Rs. 129.500 Millions from Allahabad Bank carries interest @ 13.59% p.a. net of TUF subsidy. The loan is repayable in 108 monthly installments of Rs. 1.200 Millions each along with interest commencing from 01.04.2010. * · Indian rupee term loan amounting to Rs. 125.000 Millions from Allahabad Bank carries interest @ 10.09% p.a. net of TUF subsidy. The loan is repayable in 96 monthly installments of Rs. 1.302 Millions each along with interest commencing from 01.01.2011. * · Indian rupee term loan amounting to Rs. 450.000 Millions from Central Bank of India carries interest @ 8.75% p.a. net of TUF subsidy. The loan is repayable in 96 monthly installments of Rs. 4.700 Millions each along with interest commencing from 01.07.2013. * · All the above mentioned term loans are secured by first pari-passu charge over fixed assets and second pari-passu charge over current assets of the company. The loans are also secured by equitable mortgage of residential house of Director Mr. Ajay Gupta and Promoter Mr. Sanjay Gupta located at 445 Sant Nagar Ludhiana. Further, the loans have been guaranteed by the personal guarantee of Directors Mr. Ajay Gupta, Mr. Gautam Gupta and Promoter Mr. Sanjay Gupta. · Other loan and advance represents term loan on vehicles. This loan from HDFC Bank is taken during the financial year 2013-14 and carries interest @12.55% p.a. The loan is repayable in 23 monthly installments of Rs. 0.015 Millions including interest. Another loan from HDFC Bank is taken during the financial year 2013-14 and carries interest @13.65% p.a. The loan is repayable in 24 monthly installments of Rs. 0.034 Millions including interest. This loan from UCO Bank is taken during the financial year 2012-13 and carries interest @10.45% p.a. The loan is repayable in 36 monthly installments of Rs. 0.054 Millions including interest. Loan from financial institution is taken during the financial year 2011-12 and carries interest 10.94% p.a. The loan is repayable in 35 monthly installments of Rs. 0.032 Millions including interest. These loans are secured by way of hypothecation of respective vehicle. Further the loans have been guaranteed by the personal guarantee of Managing Director of the company. Short Term
Borrowing Working Capital Loans from banks are secured by first pari-passu charge over current assets and second pari-passu charge over fixed assets of the company. The loans are also secured by equitable mortgage of residential house of Director Mr. Ajay Gupta and Promoter Mr. Sanjay Gupta located at 445 Sant Nagar Ludhiana. Further, the loans have been guaranteed by the personal guarantee of Directors Mr. Ajay Gupta , Mr. Gautam Gupta and Promoter Mr. Sanjay Gupta. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Ashish Agarwal and Company Chartered Accountants |
|
Address : |
400/1 Rani Jhansi Road, Civil
Lines, Ludhiana – 141001, Punjab, India |
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Tel. No.: |
91-161-2420692 / 2420797 |
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E-Mail : |
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Enterprises controlled by Key Management Personnel : |
·
Venus Tex Spin Limited ·
Gautam Terry Tech Limited ·
Gttl ·
Goldleaf International Private Limited ·
Cimero Industrial Enterprises Limited ·
Ganeshgee Textile Trading Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.5 /- each |
Rs.450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
68230235 |
Equity Shares |
Rs.5 /- each |
Rs.341.151 Millions |
|
|
Less : Calls in arrear |
|
Rs. 0.595 Millions |
|
|
Total |
|
Rs. 340.556
Millions |
Note:
Reconciliation of the number of shares
outstanding
|
|
As at March 31 |
|
|
2014 |
||
|
No. |
Amount |
|
|
At
the beginning of the period |
64574963 |
322874815 |
|
Issued
during the period |
3655272 |
18276360 |
|
Outstanding
at the end of period |
68230235 |
341151175 |
Terms/rights attached
to equity shares
The company has one class of equity shares having a par value of Rs. 5 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividend in indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the company, the holders of equity shares will be entiltled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by shareholder.
Details of
shareholders holding more than 5% shares in the company
|
|
As at March 31, |
|
|
2014 |
||
|
No. |
% Holding in the
class |
|
|
Equity shares of `
5 each fully paid |
|
|
|
Sindia Investment Group Pte Limited |
7000000 |
10.26% |
|
Sinochamp Corporation Limited |
4807143 |
7.05% |
|
Gold Leaf International Private Limited |
4000000 |
5.86% |
|
Sanjay Gupta |
11933823 |
17.49% |
|
Ajay Gupta |
9575445 |
14.03% |
|
Bhavna Gupta |
3534665 |
5.18% |
|
White Stone Yarns Private Limited |
3350000 |
14.91% |
|
Venus Tex Spin Limited |
3350000 |
4.91% |
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 ownership of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
340.556 |
322.280 |
322.063 |
|
(b) Reserves &
Surplus |
1682.348 |
1469.778 |
1309.246 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
206.731 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2022.904 |
1998.789 |
1631.309 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1775.693 |
2180.120 |
1915.565 |
|
(b) Deferred tax
liabilities (Net) |
303.496 |
316.031 |
233.034 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
20.417 |
7.208 |
8.804 |
|
Total Non-current
Liabilities (3) |
2099.606 |
2503.359 |
2157.403 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1831.916 |
1785.559 |
1376.733 |
|
(b) Trade payables |
1291.850 |
848.015 |
926.681 |
|
(c) Other current
liabilities |
631.295 |
480.258 |
305.394 |
|
(d) Short-term provisions |
52.154 |
52.694 |
62.417 |
|
Total Current Liabilities
(4) |
3807.215 |
3166.526 |
2671.225 |
|
|
|
|
|
|
TOTAL |
7929.725 |
7668.674 |
6459.937 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3139.502 |
3286.989 |
2773.407 |
|
(ii) Intangible Assets |
3.086 |
4.819 |
6.146 |
|
Expenditure on power Lines |
0.000 |
0.049 |
0.460 |
|
(iii) Capital
work-in-progress |
3.256 |
18.675 |
42.979 |
|
(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 |
80.500 |
54.102 |
35.333 |
|
(e) Other Non-current
assets |
63.942 |
63.355 |
44.274 |
|
Total Non-Current Assets |
3290.286 |
3427.989 |
2902.599 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
2288.454 |
2624.964 |
1903.476 |
|
(c) Trade receivables |
1429.591 |
837.203 |
755.020 |
|
(d) Cash and cash
equivalents |
65.104 |
121.209 |
63.393 |
|
(e) Short-term loans and
advances |
517.159 |
423.494 |
607.118 |
|
(f) Other current assets |
339.131 |
233.815 |
228.331 |
|
Total Current Assets |
4639.439 |
4240.685 |
3557.338 |
|
|
|
|
|
|
TOTAL |
7929.725 |
7668.674 |
6459.937 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
8304.242 |
8935.831 |
8447.911 |
|
|
Other Income |
2.327 |
6.108 |
17.722 |
|
|
TOTAL (A) |
8306.569 |
8941.939 |
8465.633 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5277.007 |
6025.705 |
5457.104 |
|
|
Purchases of
Stock-in-Trade |
623.940 |
586.701 |
872.230 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
86.785 |
87.234 |
(113.487) |
|
|
Employees benefits
expense |
241.508 |
169.356 |
157.509 |
|
|
Other expenses |
1306.633 |
1159.392 |
1170.190 |
|
|
TOTAL (B) |
7535.873 |
8028.388 |
7543.546 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
770.696 |
913.551 |
922.087 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
501.549 |
492.134 |
511.173 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
269.147 |
421.417 |
410.914 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
266.064 |
170.364 |
173.265 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
3.083 |
251.053 |
237.649 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(8.446) |
90.522 |
79.172 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
11.529 |
160.531 |
158.477 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2298.731 |
1847.254 |
1338.006 |
|
|
TOTAL EARNINGS |
2298.731 |
1847.254 |
1338.006 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
11.093 |
47.276 |
47.381 |
|
|
Components and Stores parts |
8.959 |
10.088 |
15.010 |
|
|
Capital Goods |
0.326 |
477.895 |
6.765 |
|
|
TOTAL IMPORTS |
20.378 |
535.259 |
69.156 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.17 |
2.49 |
3.04 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
0.14 |
1.80 |
1.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.04 |
2.81 |
2.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.04 |
3.28 |
3.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.13 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.78 |
1.98 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.34 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
322.063 |
322.280 |
340.556 |
|
Reserves & Surplus |
1309.246 |
1469.778 |
1682.348 |
|
Share Application money
pending allotment |
0.000 |
206.731 |
0.000 |
|
Net worth |
1631.309 |
1998.789 |
2022.904 |
|
|
|
|
|
|
long-term borrowings |
1915.565 |
2180.120 |
1775.693 |
|
Short term borrowings |
1376.733 |
1785.559 |
1831.916 |
|
Total borrowings |
3292.298 |
3965.679 |
3607.609 |
|
Debt/Equity ratio |
2.018 |
1.984 |
1.783 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
8447.911 |
8935.831 |
8304.242 |
|
|
|
5.776 |
(7.068) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
8447.911 |
8935.831 |
8304.242 |
|
Profit |
158.477 |
160.531 |
11.529 |
|
|
1.88% |
1.80% |
0.14% |
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 |
No |
|
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 |
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 |
Yes |
|
30] |
Major
Shareholders, if available |
No |
|
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 |
Operations Detail
Production in both the spinning units was 23.985 Millions kgs. as compared to the figure of 33.405 Millions kgs. In the garment unit, 0.596 Millions pieces of garments & 678.96 MT Fabric were produced as compared to the figure of previous year of 0.946 Millions pieces of garments and 749.95 MT of fabric. Net Turnover during the year has shown decrease of 7.11%. There is net profit of Rs.11.500 Millions as compared to net profit of 160.500 Millions in the previous year. Cash profit during the current year ending on 31.03.2014 decreased to Rs.265.000 Millions from the figure of Rs. 413.900 Millions in the previous year ending on 31.03.2013.
Financial /
Operational Performance
Supreme is manufacturer and exporter of cotton yarn, synthetic yarn, blended yarn, knitted fabric (both grey and processed) and knitted garments. During the year, the Company's exports (FOB value) were to the tune of Rs.2298.700 Millions and accounts for about 27.67% of company’s revenues. The company has identified two segment yarn segment and garments segment. The yarn segment comprises production of various types of yarn (from cotton, manmade fibers and blend thereof) and yarn processing activities. Garment segment comprises of knitted garments.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10468318 |
05/12/2013 |
50,000,000.00 |
UNION BANK OF INDIA |
MCB, DUGRI ROAD, LUDHIANA, Punjab - 141001, INDIA |
B92772235 |
|
2 |
10399731 |
28/12/2012 |
50,000,000.00 |
State Bank of India |
IFB, Golden Tower, Dholewal chowk, Ludhiana, Punjab - 141003, INDIA |
B66785213 |
|
3 |
10361808 |
31/08/2013 * |
450,000,000.00 |
CENTRAL BANK OF INDIA |
MCB, R.K. Road,, Ludhiana, Ludhiana, Punjab - 141003, INDIA |
B88136783 |
|
4 |
10263447 |
31/08/2013 * |
250,000,000.00 |
PUNJAB NATIONAL BANK |
LCB, R.K. ROAD, BHAGWATI TOWER, R.K. ROAD, LUDHIANA, Punjab - 141003, INDIA |
B88049051 |
|
5 |
10198826 |
31/08/2013 * |
135,000,000.00 |
PUNJAB NATIONAL BANK |
LCB, R.K. ROAD, BHAGWATI TOWER, R.K. ROAD, LUDHIANA, Punjab - 141003, INDIA |
B87904520 |
|
6 |
10196068 |
31/08/2013 * |
125,000,000.00 |
ALLAHABAD BANK |
IIFB, INDUSTRIAL AREA "A", LUDHIANA, LUDHIANA, Punjab - 141003, INDIA |
B88145214 |
|
7 |
10166965 |
31/08/2013 * |
129,500,000.00 |
ALLAHABAD BANK |
IIFB, INDUSTRIAL AREA "A", LUDHIANA, LUDHIANA, Punjab - 141003, INDIA |
B88154109 |
|
8 |
10166966 |
02/06/2014 * |
2,534,200,000.00 |
SBI Consortium SBI
(Leader) & PNB & IDBI & UBI & C |
CB KAILASH NAGAR, FOCAL POINT ROAD, LUDHIANA, Punjab - 141001, INDIA |
C09989971 |
|
9 |
10125589 |
02/12/2013 * |
45,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA (EAST), MUMBAI, Maharashtra - 400051, INDIA |
B90984741 |
|
10 |
10051235 |
29/06/2009 * |
90,000,000.00 |
UCO BANK |
MID CORPORATE BRANCH, R.K. ROAD, NEAR CHEEMA CHOWK, LUDHIANA, Punjab - 141003, INDIA |
A65941593 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
0.000 |
129.841 |
|
From related parties (including inter corporate loans |
92.501 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working Capital Loans From bank |
|
|
|
Indian Rupee Loans |
0.000 |
2.594 |
|
From NBFCs |
|
|
|
Indian Rupee Loans |
7.748 |
7.788 |
|
Total |
100.249 |
140.223 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Bills discounted with banks against irrevocable letter of credit |
240.863 |
377.283 |
FIXED ASSETS
· Freehold Land
· Leasehold Land
· Buildings
· Plant and equipment
· Furniture fixtures
· Vehicles
· Office equipment
· Computer equipment
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 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. 60.91 |
|
|
1 |
Rs. 98.65 |
|
Euro |
1 |
Rs. 78.63 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
48 |
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.