MIRA INFORM REPORT
|
Report Date : |
13.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
NAVKAR BUILDERS LIMITED |
|
|
|
|
Registered
Office : |
407, Sarita Complex, Behind Hotel Classic Gold, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
02.06.1992 |
|
|
|
|
Com. Reg. No.: |
04-017761 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 174.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L45200GJ1992PLC017761 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Ready Mix Concrete. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
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 |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating takes into consideration working capital intensive nature of
operations and existence in a highly competitive and fragmented construction
industry. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealings with some
cautions. |
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 BB+ |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
April 14, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
April 14, 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
MANAGEMENT NON CO-OPERATIVE (91-79-40064095)
LOCATIONS
|
Registered Office : |
407, Sarita Complex, Behind Hotel Classic Gold, C. G. Road, Ahmedabad
– 380009, Gujarat, India |
|
Tel. No. : |
91-79-26442293 |
|
Fax No. : |
91-79-26468271 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
304, Circle “P” Near PrahladnagarGarden, S.G. Road, Ahmedabad – 380051, Gujarat, India |
|
|
|
|
Factory 1: |
Plot
No.444/A, Adalaj-Koba Road, Village: Ambapur, Adalaj, Dist.: Gandhinagar,
Ahmedabad, Gujarat, India |
|
|
|
|
Factory 2: |
Block
No.: 923-924, Village : Dumad, Near Dumad Four Road, Taluka and Dist. :
Vadodara, Gujarat, India |
|
|
|
|
Factory 3: |
Survey
No.: 440/2, Samalpati, Taluko : Patan, District : Patan, Gujarat, India |
|
|
|
|
Factory 4: |
Block
No.: 186-B, 188, Village : Laxmipura, Taluka : Daskroi (Narol), Dist.
Ahmedabad, Gujarat, India |
|
|
|
|
Factory 5: |
Plot No. 1160,1161-A, Village : Sanghana, Ta.: Matar, Dist. Kheda, Gujarat, India |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Dakshesh Ramesh Shah |
|
Designation : |
Chairman and Managing Director |
|
Address : |
27, Jagaanath Park, Jivraj Park, Jivraj Park Road, Ahmedabad – 380051, Gujarat, India |
|
Date of Birth/Age: |
14.12.1972 |
|
Date of
Appointment: |
19.05.2007 |
|
PAN No.: |
ACEPS7056G |
|
|
|
|
Name : |
Mr. Samir Chandulal Patel |
|
Designation : |
Joint Managing Director |
|
Address : |
Plot No. 368/1, Sector-22, Ghandhinagar – 382022, Gujarat, India |
|
Date of Birth/Age: |
10.04.1972 |
|
Date of
Appointment: |
19.05.2007 |
|
PAN No.: |
ACMPP2410P |
|
|
|
|
Name : |
Mr. Shailesh Manubhai Shah |
|
Designation : |
Independent and Non-Executive Director |
|
Address : |
1981, Nagji Bhudarni Pole, Khadia, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age: |
27.05.1962 |
|
Date of
Appointment: |
01.10.2007 |
|
PAN No.: |
BDKPS2535N |
|
|
|
|
Name : |
Mr. Rameshchandra Dahyabhai Patel |
|
Designation : |
Independent and Non-Executive Director |
|
Address : |
Plot No. 494/1, Sector-08-B, Ghandhinagar – 382006, Gujarat, India |
|
Date of
Appointment: |
01.10.2007 |
|
PAN No.: |
AHWPP0737C |
|
|
|
|
Name : |
Mr. Sunil Chainrup Bohara |
|
Designation : |
Independent and Non-Executive Director |
|
Address : |
15, Shrinath Colony Flat, Bhairavnath Road, Maninagar, Ahmedabad – 380028, Gujarat, India |
|
Date of Birth/Age: |
01.12.1975 |
|
Date of
Appointment: |
11.06.2007 |
|
PAN No.: |
ABHPB3496K |
|
|
|
|
Name : |
Mr. Prakashbhai Shah |
|
Designation : |
Independent and Non-Executive Director |
|
Address : |
35, Vasantkunj Society, New Shardamandir Road, Ahmedabad – 380007, Gujarat, India |
|
Date of Birth/Age: |
26.11.1956 |
|
Date of Appointment: |
11.06.2007 |
|
PAN No.: |
AINPS6134J |
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 |
|
|
|
|
|
|
|
|
1940117 |
11.12 |
|
|
5030583 |
28.82 |
|
|
6970700 |
39.94 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6970700 |
39.94 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
4390961 |
25.16 |
|
|
|
|
|
|
863310 |
4.95 |
|
|
3444399 |
19.73 |
|
|
1783930 |
10.22 |
|
|
1777400 |
10.18 |
|
|
6530 |
0.04 |
|
|
10482600 |
60.06 |
|
Total Public shareholding (B) |
10482600 |
60.06 |
|
Total (A)+(B) |
17453300 |
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) |
17453300 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Ready Mix Concrete. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v HDFC Bank Limited v Axis Bank Limited v Union Bank of India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.B. Shah and Company Chartered Accountants |
|
Address : |
Ahmedabad, Gujarat, India |
|
|
|
|
Entities where key management personnel (KMP) relatives of key
management personnel (RKMP) have significant influence: |
v Parshva
Alluminium Company Private Limited v Yashnanad
Engineers and Contractors |
|
|
|
|
Associates : |
Navkar Fiscal Services Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13090000 |
Equity Shares |
Rs.10/- each |
Rs.130.900 Millions |
|
1050000 |
Convertible warrants (Rs. 2.50 partly paid up) |
Rs.10/- each |
Rs.2.625 Millions |
|
|
Total |
|
Rs. 133.525
Millions |
As on 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 174.500
Millions
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 |
174.500 |
133.525 |
123.411 |
|
(b) Reserves & Surplus |
119.100 |
84.616 |
46.741 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
12.922 |
|
Total
Shareholders’ Funds (1) + (2) |
293.600 |
218.141 |
183.074 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
80.200 |
86.886 |
149.378 |
|
(b) Deferred tax liabilities (Net) |
32.900 |
27.535 |
17.571 |
|
(c) Other long term liabilities |
85.600 |
83.926 |
14.823 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
198.700 |
198.347 |
181.772 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
102.400 |
94.570 |
37.189 |
|
(b) Trade payables |
12.000 |
22.261 |
25.207 |
|
(c) Other current
liabilities |
156.300 |
323.354 |
40.149 |
|
(d) Short-term provisions |
8.600 |
1.827 |
8.284 |
|
Total Current Liabilities (4) |
279.300 |
442.012 |
110.829 |
|
|
|
|
|
|
TOTAL |
771.600 |
858.500 |
475.675 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
361.400 |
333.990 |
307.624 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
6.600 |
2.500 |
4.700 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.600 |
5.295 |
4.154 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
375.100 |
341.785 |
316.478 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
83.500 |
56.278 |
7.410 |
|
(c) Trade receivables |
109.500 |
76.004 |
77.741 |
|
(d) Cash and cash
equivalents |
25.400 |
25.776 |
11.099 |
|
(e) Short-term loans and
advances |
178.100 |
358.657 |
62.947 |
|
(f) Other current assets |
0.000 |
|
|
|
Total Current Assets |
396.500 |
516.715 |
159.197 |
|
|
|
|
|
|
TOTAL |
771.600 |
858.500 |
475.675 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
584.169 |
418.691 |
407.888 |
|
|
|
Other Income |
3.040 |
0.841 |
1.003 |
|
|
|
TOTAL |
587.209 |
419.532 |
408.891 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
169.487 |
199.884 |
166.091 |
|
|
|
Purchases of Stock-in-Trade |
236.779 |
0.000 |
31.084 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(27.233) |
(48.868) |
0.000 |
|
|
|
Employees benefits expense |
28.458 |
26.184 |
23.365 |
|
|
|
Exceptional Item |
(3.216) |
0.000 |
0.000 |
|
|
|
Other expenses |
79.233 |
152.271 |
118.144 |
|
|
|
TOTAL |
483.508 |
329.471 |
338.684 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
103.701 |
90.061 |
70.207 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
37.432 |
26.537 |
24.338 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
66.269 |
63.524 |
45.869 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
15.714 |
15.449 |
8.894 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
50.555 |
48.075 |
36.975 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
15.445 |
10.860 |
10.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
35.110 |
37.215 |
26.909 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.20 |
2.37 |
2.27 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
5.98 |
8.87 |
6.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.65 |
11.48 |
9.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.61 |
5.62 |
7.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.22 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.62 |
0.83 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42 |
1.17 |
1.44 |
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 |
123.411 |
133.525 |
174.500 |
|
Reserves & Surplus |
46.741 |
84.616 |
119.100 |
|
Share
Application money pending allotment |
12.922 |
0.000 |
0.000 |
|
Net worth |
183.074 |
218.141 |
293.600 |
|
|
|
|
|
|
long-term borrowings |
149.378 |
86.886 |
80.200 |
|
Short term borrowings |
37.189 |
94.570 |
102.400 |
|
Total borrowings |
186.567 |
181.456 |
182.600 |
|
Debt/Equity ratio |
1.019 |
0.832 |
0.622 |
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) |
|
Revenue from Operations |
407.888 |
418.691 |
584.169 |
|
|
|
2.649 |
39.523 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from Operations |
407.888 |
418.691 |
584.169 |
|
Profit |
26.909 |
37.215 |
35.110 |
|
|
6.60% |
8.89% |
6.01% |
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10438820 |
24/07/2013 |
7,850,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B80385867 |
|
2 |
10438818 |
24/07/2013 |
10,200,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
B80384829 |
|
3 |
10363985 |
29/06/2012 |
500,000.00 |
Axis Bank Limited |
RAC Ahmedabad, CV/ CE Department, 4th
Floor, Shi |
B42992867 |
|
4 |
10257590 |
10/12/2010 |
6,600,000.00 |
Axis Bank Limited |
TRISHUL, OPP SAMARTHESHWAR TEMPLE, LAW
GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
B02365880 |
|
5 |
10257491 |
11/11/2010 |
15,309,000.00 |
Axis Bank Limited |
TRISHUL, OPP SAMARTHESHWAR TEMPLE, LAW
GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
B02134567 |
|
6 |
10241574 |
14/09/2010 |
587,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
A94775228 |
|
7 |
10245953 |
14/09/2010 |
2,938,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI BAPAT MARG, LOWER
PAREL |
A96537683 |
|
8 |
10125306 |
14/02/2014 * |
358,500,000.00 |
UNION BANK OF INDIA |
ASHRAM ROAD BRANCH, C U SHAH CHAMBERS,
AHMEDABAD, Gujarat - 380009, INDIA |
C01065556 |
|
9 |
10125337 |
09/12/2013 * |
258,500,000.00 |
UNION BANK OF INDIA |
ASHRAM ROAD BRANCH, C U SHAH CHAMBERS,
AHMEDABAD, Gujarat - 380009, INDIA |
B92863398 |
* Date of charge modification
FIXED ASSETS
œ Leasehold Land
œ Building
œ Plant and Machinery
œ Computer
œ Furniture and Fixture
œ Vehicle
UNAUDITED
RESULTS FOR THE QUARTER AND ENDED ON 30TH JUNE, 2014
(Rs. In Millions)
|
|
|
Particulars |
Quarter
ended 30.06.2014 |
|
1 |
Income from Operations |
|
|
|
|
a) Net Sales/Income from Operations (net of excise duty) |
153.010 |
|
|
|
b) Other Operating Income |
0.000 |
|
|
|
Total Income from Operations (Net) |
15.010 |
|
|
2 |
Expenses |
|
|
|
|
a) |
Cost of Materials consumed |
57.302 |
|
|
b) |
Purchase of stock in-trade |
0.000 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
3.482 |
|
|
d) |
Employee benefit expenses |
7.333 |
|
|
e) |
Depreciation and amortization expense |
4.006 |
|
|
f) |
Other expenses |
63.199 |
|
|
Total Expenses |
135.322 |
|
|
3 |
|
Profit /(Loss) from
operations before other income, finance costs and exceptional items (1-2) |
17.688 |
|
4 |
Other Income |
0.381 |
|
|
5 |
|
Profit /(Loss) from
ordinary activities before finance costs and exceptional items (3+4) |
18.069 |
|
6 |
Finance Costs |
9.463 |
|
|
7 |
|
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items (5-6) |
8.606 |
|
8 |
Exceptional Items |
-- |
|
|
9 |
Profit /(Loss) from ordinary activities before tax |
8.606 |
|
|
10 |
Tax Expense |
-- |
|
|
11 |
Net Profit /(Loss) from ordinary activities after tax
(9-10) |
8.606 |
|
|
12 |
Extraordinary items (net
of tax expense) |
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
8.606 |
|
|
14 |
Paid up equity share
capital (Eq. shares of Rs.10/- each) |
174.533 |
|
|
15 |
Reserve excluding
revaluation reserves |
|
|
|
16 |
|
Earnings per share
(before/after extraordinary items) of
Rs.10/- each |
|
|
|
|
Basic |
0.05 |
|
|
|
Diluted |
0.05 |
1. The above results were reviewed by Audit Committee and taken on record by the Board of Directors at its meeting held on August 14, 2014.
2. The Company has only single Reportable Business Segment in terms of requirements of Accounting Standard 17.
3. Previous quarter’s figures have been re-grouped / re-arranged wherever necessary.
|
A |
|
PARTICULARS OF
SHAREHOLDING |
30.06.2014 |
|
1 |
|
Public Shareholding |
|
|
|
|
- No. of Shares |
10482600 |
|
|
|
- Percentage of
Shareholding |
60.06% |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number of shares |
0.000 |
|
|
|
- Percentage of shares (
as a % of the total shareholding of the promoter and promoter group) |
0.000 |
|
|
|
- Percentage of shares
(as a % of the total share capital of the Company) |
0.000 |
|
|
|
b) Non- encumbered |
|
|
|
|
- Number of shares |
6970700 |
|
|
|
- Percentage of shares (
as a % of the total shareholding of the promoter and promoter group) |
100.00% |
|
|
|
- Percentage of shares
(as a % of the total share capital of the Company) |
39.94% |
|
|
Particulars |
Quarter
ended 30.06.2014 |
|
|
B |
|
Investor Complaints |
|
|
|
|
Pending at the beginning
of the quarter |
0 |
|
|
|
Received during the
quarter |
0 |
|
|
|
Disposed during the
quarter |
0 |
|
|
|
Remaining unresolved at
the end of the quarter |
0 |
STANDALONE
STATEMENT OF ASSETS AND LIABILITIES
|
Particular |
31.06.2014 (Rs.
In Millions) |
|
EQUITY AND
LIABILITIES |
|
|
Shareholders’
funds |
|
|
(a) Share capital |
174.500 |
|
(b) Reserves and surplus |
143.000 |
|
(c) Money Received against share warrants |
0.000 |
|
Sub-total
- Shareholders' funds |
317.500 |
|
|
|
|
Non-current
liabilities |
|
|
(a) Long-term borrowings |
71.000 |
|
(b) Deferred Tax Liabilities (Net) |
26.200 |
|
(c) Other Long Term Liability |
105.300 |
|
(d) Long Term Provision |
0.000 |
|
Sub-total
- Non-current liabilities |
202.500 |
|
|
|
|
Current
liabilities |
|
|
(a) Short -term borrowings |
171.000 |
|
(b) Trade payables |
11.300 |
|
(c) Other Current Liability |
48.000 |
|
(d) Short-term provision |
0.000 |
|
Sub-total
- Current liabilities |
230.300 |
|
TOTAL
- EQUITY AND LIABILITIES |
750.300 |
|
|
|
|
ASSETS |
|
|
Non-current
assets |
|
|
(a) Fixed assets |
|
|
(i)
Tangible Assets |
357.800 |
|
(ii)
Intangible Assets
|
0.000 |
|
(iii)
Capital work in Progress |
6.600 |
|
(iv)
Intangible assets under development / R and D |
0.000 |
|
(b) Non-current investment |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term loans and advances |
0.000 |
|
(e) Other non-current assets |
0.000 |
|
Sub-total
- Non-current assets Current assets |
364.900 |
|
Current assets |
|
|
(a) Current Investment |
0.000 |
|
(b) Inventories |
70.000 |
|
(c) Trade receivables |
157.700 |
|
(d) Cash and cash equivalents |
19.000 |
|
(e) Short-term loans and advances |
97.400 |
|
(f) Other current assets |
41.300 |
|
Sub-total
- Current assets |
385.400 |
|
|
|
|
TOTAL
- ASSETS |
750.300 |
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.
ONTRAVENTION
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.60.84 |
|
|
1 |
Rs.98.72 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
35 |
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.