MIRA INFORM REPORT
|
Report Date : |
15.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
METROGLOBAL LIMITED (w.e.f. 02.09.2011) |
|
|
|
|
Formerly Known
As : |
GLOBAL BOARDS LIMITED |
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|
Registered Office
: |
101, 1st Floor, Mangal Disha, Near |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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|
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Date of
Incorporation : |
12.11.1992 |
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|
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|
Com. Reg. No.: |
11-069527 |
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|
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|
Capital
Investment / Paid-up Capital : |
Rs.163.267 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21010MH1992PLC069527 |
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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
: |
The company is engaged in the business of Dyes and Dyes Intermediates,
Realty and Infrastructure. |
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|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There are accumulated losses recorded by the company. However, rating
also takes into consideration vast experiences of promoters in dyes and dye
intermediates business and improvement in performance of the company as
compared to previous year. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks over
coal supply contracts, uncertainty over cancellation of blocks weigh on stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
16.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
16.12.2013 |
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 BY
MANAGEMENT NON CO-OPERATIVE (91-79-26468016)
LOCATIONS
|
Registered Office : |
101, 1st Floor, Mangal Disha, Near Guru Gangeshwar Temple,
6th Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
Website : |
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|
|
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|
Administrative / Corporate Office : |
508-509, Ship, C.G. Road, Navarangpura, Ahmedabad – 380 009, Gujarat,
India |
|
Tel. No.: |
91-79-26468016 / 26469150 |
|
Fax No.: |
91-79-26407838 |
|
E-Mail : |
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|
|
|
|
Accounts Office : |
808-809, Shilp Building, Opposite Girish Cold Drinks, C.G. Road,
Navarangpura, Ahmedabad – 380 009, Gujarat, India |
|
Tel. No.: |
91-79-26403212, 26403930 |
|
Fax No.: |
91-79-26463805 |
|
E-Mail : |
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Factory 1 : |
Plot No: A-472-475, and 489-492 , Phase II, GIDC, Vatva, Ahmedabad - 382445,
Gujarat, India |
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|
|
|
Factory 2 : |
Plot No: Al-407,and A2-408 , Phase II, GIDC, Vatva, Ahmedabad -
382445, Gujarat, India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Gautani M. Jain |
|
Designation : |
Chairman and Managing Director |
|
Date of Appointment : |
12.11.2011 |
|
DIN No.: |
00160167 |
|
|
|
|
Name : |
Mr. Rahul G. Jain |
|
Designation : |
Executive Director |
|
Date of Appointment : |
12.11.2011 |
|
DIN No.: |
01813781 |
|
|
|
|
Name : |
Mr. Sandeep S. Bhandari |
|
Designation : |
Independent Director |
|
Date of Birth / Age : |
19.12.1962 |
|
Qualification : |
MBA Finance |
|
Date of Appointment : |
12.11.2011 |
|
DIN No.: |
01379445 |
|
|
|
|
Name : |
Mr. Nilesh R. Desai |
|
Designation : |
Independent Director |
|
Date of Appointment : |
12.11.2011 |
|
DIN No.: |
00058890 |
KEY EXECUTIVES
|
Name : |
Mr. Nitin S. Shah |
|
Designation : |
Company Secretary and Compliance Officer |
|
|
|
|
Name : |
Ms. Kirti |
|
Designation : |
HR Department |
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|
|
|
Name : |
Mr. Sumit Mehta |
|
Designation : |
Finance Manager |
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 |
|
|
|
|
|
|
|
|
3388977 |
20.76 |
|
|
6083717 |
37.26 |
|
|
9472694 |
58.02 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
9472694 |
58.02 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
568 |
0.00 |
|
|
10787 |
0.07 |
|
|
7576 |
0.05 |
|
|
107 |
0.00 |
|
|
1142 |
0.01 |
|
|
20180 |
0.12 |
|
|
|
|
|
|
4221000 |
25.85 |
|
|
|
|
|
|
1396764 |
8.56 |
|
|
1145926 |
7.02 |
|
|
70178 |
0.43 |
|
|
7723 |
0.05 |
|
|
14192 |
0.09 |
|
|
48263 |
0.30 |
|
|
6833868 |
41.86 |
|
Total Public shareholding (B) |
6854048 |
41.98 |
|
Total (A)+(B) |
16326742 |
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) |
16326742 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Name of the
Shareholder |
Details of Shares held |
|
|
No. of Shares held |
% of grand total |
|
|
Nitu Sandeep Jain |
55,300 |
0.34 |
|
Gautamkumar Mithalal Jain |
31,25,413 |
19.14 |
|
Cheer Trading and Investment
Private Limited |
8,09,350 |
4.96 |
|
Spring Trading and Investment
Private Limited |
4,87,666 |
2.99 |
|
Amaze Trading and Investment
Private Limited |
5,66,156 |
3.47 |
|
Bloom Investment and Trading
Private Limited |
24,800 |
0.15 |
|
Sparkling Tradefin Private
Limited |
2,36,800 |
1.45 |
|
Progressive Invatrade Private
Limited |
2,09,391 |
1.28 |
|
Minerva Dyechem Industries
Private Limited |
55,200 |
0.34 |
|
Charm Trading and Investment
Private Limited |
1,25,416 |
0.77 |
|
Ritu G Jain |
64,000 |
0.39 |
|
Rahul Gautamkumar Jain |
74,818 |
0.46 |
|
Bhavna Gautamkumar Jain |
36,546 |
0.22 |
|
Maiden Tradefin Private Limited |
16,78,052 |
10.28 |
|
Search Invatrade Private
Limited |
9,84,360 |
6.03 |
|
Gautamkumar Mithalal (HUF) |
32,900 |
0.20 |
|
Anil Dyechem Ind Private
Limited |
9,06,526 |
5.55 |
|
Total |
94,72,694 |
58.02 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No.
of Shares |
|
|
Alankar Mahendra Lodha |
276000 |
1.69 |
|
|
Megha Biotech Private Limited |
2705667 |
16.57 |
|
|
Navkar Synthchem Private
Limited |
566500 |
3.47 |
|
|
Worship Trading And Investment
Private Limited |
631736 |
3.87 |
|
|
Total |
4179903 |
25.60 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons (together with PAC) belonging to the
category “Public” and holding more than 5% of the total number of shares of the
company
|
Name(s) of the shareholder(s)
and the Persons Acting in Concert (PAC) with them |
No. of Shares |
% of Total No. of
Shares |
|
|
Megha Biotech Private Limited |
2705667 |
16.57 |
|
|
Total |
2705667 |
16.57 |
Details of Locked-in Shares
|
Name of the Shareholder |
No. of Shares |
% of |
|
Gautamkumar Mithalal Jain |
18,37,033 |
11.25 |
|
Total |
18,37,033 |
11.25 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in the business of Dyes and Dyes Intermediates,
Realty and Infrastructure. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by management |
||||||||||||||||||||||||
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Bankers : |
State
Bank of India, Law Garden Branch, Navrangpura, Ahmedabad - 380 009, Gujarat,
India |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
AMPAC and Associates, Chartered Accountants |
|
Address : |
Mumbai, Maharashtra, India |
|
|
|
|
Subsidiaries : |
v Metrochem Capital Trust Limited |
|
|
|
|
Associates
Companies : |
v Anil Dyechem Industries Private Limited v Search Invatrade Private Limited v Harvest Tradelink Private Limited v Sparkling Tradefin Private Limited v Maiden Tradefin Private Limited v Spring Trading And Investment Private Limited v Minerva Dyechem Industries Private Limited v Progressive Invatrade Private Limited v Bloom Investment and Trading Private Limited v DK Metro Procon Private Limited v Charm Trading and Investment Private Limited v Miraj Impex Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
95000000 |
Equity Shares |
Rs.10/- each |
Rs.950.000 Millions |
|
25000000 |
Cumulative/Non-Cumulative, Redeemable, Convertible/Non-convertible
Preference Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 1200.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
16326742 |
Equity Shares |
Rs.10/- each |
Rs.163.267 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 |
163.267 |
155.397 |
126.130 |
|
(b) Reserves & Surplus |
2037.327 |
1673.973 |
961.258 |
|
(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) |
2200.594 |
1829.370 |
1087.388 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
478.496 |
333.587 |
846.402 |
|
(b) Deferred tax liabilities (Net) |
4.607 |
4.607 |
4.607 |
|
(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) |
483.103 |
338.194 |
851.009 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
205.946 |
163.776 |
154.676 |
|
(b) Trade payables |
349.199 |
26.650 |
19.217 |
|
(c) Other current
liabilities |
12.043 |
13.553 |
14.066 |
|
(d) Short-term provisions |
1.830 |
1.184 |
30.284 |
|
Total Current Liabilities (4) |
569.018 |
205.163 |
218.243 |
|
|
|
|
|
|
TOTAL |
3252.715 |
2372.727 |
2156.640 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
52.145 |
50.098 |
51.083 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
79.686 |
25.047 |
47.367 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
116.565 |
92.684 |
99.266 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
836.440 |
1134.096 |
1077.992 |
|
(e) Other Non-current assets |
5.072 |
6.526 |
7.304 |
|
Total Non-Current Assets |
1089.908 |
1308.451 |
1283.012 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
316.542 |
141.817 |
9.370 |
|
(c) Trade receivables |
335.111 |
62.929 |
77.984 |
|
(d) Cash and cash
equivalents |
524.162 |
147.283 |
62.292 |
|
(e) Short-term loans and
advances |
986.992 |
712.247 |
723.982 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
2162.807 |
1064.276 |
873.628 |
|
|
|
|
|
|
TOTAL |
3252.715 |
2372.727 |
2156.640 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2719.758 |
1966.963 |
1453.306 |
|
|
|
Other Income |
45.724 |
62.917 |
29.413 |
|
|
|
TOTAL |
2765.482 |
2029.880 |
1482.719 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
57.564 |
78.352 |
|
|
|
Purchases of Stock-in-Trade |
2555.457 |
1721.180 |
1100.205 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(176.727) |
(35.072) |
19.279 |
|
|
|
Employees benefits expense |
9.733 |
9.508 |
10.712 |
|
|
|
Impairment Expenses |
0.000 |
7.096 |
0.000 |
|
|
|
Other expenses |
128.631 |
40.619 |
46.363 |
|
|
|
TOTAL |
2517.094 |
1800.895 |
1254.911 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
248.388 |
228.985 |
227.808 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
15.212 |
9.986 |
8.696 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
233.176 |
218.999 |
219.112 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.618 |
3.817 |
5.340 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
229.558 |
215.182 |
213.772 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
229.558 |
215.182 |
213.772 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
31.760 |
61.903 |
|
|
TOTAL EARNINGS |
0.000 |
31.760 |
61.903 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
14.06 |
13.85 |
17.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
8.30 |
10.60 |
14.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.44 |
10.94 |
14.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.51 |
9.54 |
10.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.12 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31 |
0.27 |
0.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.80 |
5.19 |
4.00 |
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 |
126.130 |
155.397 |
163.267 |
|
Reserves & Surplus |
961.258 |
1673.973 |
2037.327 |
|
Net worth |
1087.388 |
1829.370 |
2200.594 |
|
|
|
|
|
|
long-term borrowings |
846.402 |
333.587 |
478.496 |
|
Short term borrowings |
154.676 |
163.776 |
205.946 |
|
Total borrowings |
1001.078 |
497.363 |
684.442 |
|
Debt/Equity ratio |
0.921 |
0.272 |
0.311 |
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 |
1453.306 |
1966.963 |
2719.758 |
|
|
|
35.344 |
38.272 |
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 |
1453.306 |
1966.963 |
2719.758 |
|
Profit |
213.772 |
215.182 |
229.558 |
|
|
14.71% |
10.94% |
8.44% |
LOCAL AGENCY FURTHER INFORMATION
NOTE: Current
Maturities of Long Term Debts is Not Available.
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Debentures |
|
|
|
Unsecured Convertible
Debentures of Rs.100 each |
0.000 |
141.666 |
|
Other Unsecured Loan from
Corporate Bodies (The unsecured loan includes loan taken from associate companies
amounting to Rs.429.700 millions
(Previous year Rs. 191.900 millions) which
is expected to be paid within a period of 2-5 years. |
429.687 |
191.921 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Unsecured Loan from Corporate Bodies |
77.849 |
67.358 |
|
|
|
|
|
Total |
507.536 |
400.945 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10478273 |
24/01/2014 |
100,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227,D, NARIMAN POINT,
MUMBAI, Maharashtra - 400021, INDIA |
B96673173 |
|
2 |
10399100 |
17/12/2013 * |
500,000,000.00 |
STATE BANK OF INDIA |
SME LAW GARDEN BRANCH, ZODIAC AVENUE, OPP.
COMMIS |
B94443702 |
|
3 |
10401271 |
17/12/2013 * |
500,000,000.00 |
STATE BANK OF INDIA |
SME LAW GARDEN BRANCH, ZODIAC AVENUE, OPP.
COMMIS |
B94705902 |
|
4 |
90099491 |
02/02/2007 * |
770,000,000.00 |
STATE BANK OF INDIA |
CORPORATE FINANCE BRANCH, 58, SHRIMALI
SOCIETY, NAVARANGPURA, AHMEDABAD, Gujarat - 380009, INDIA |
A11118692 |
|
5 |
90099100 |
19/09/2000 * |
580,000,000.00 |
STATE BANK OF INDIA |
SHRIMALI SOCIETY MITHAKALI, AHMEDABAD,
Gujarat - 380006, INDIA |
- |
|
6 |
90102644 |
18/02/1998 |
18,400,000.00 |
STATE BANK OF INDIA |
SHRIMALI SOCIETY MITHAKHALI, AHMEDABAD,
Gujarat - |
- |
|
7 |
90098700 |
21/10/1997 * |
355,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, AHMEDABAD, Gujarat, INDIA |
- |
|
8 |
90097863 |
23/04/1998 * |
215,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, AHMEDABAD, Gujarat, INDIA |
- |
* Date of charge modification
OPERATIONAL PERFORMANCE
The turnover of the company for the various segments was Rs. 2719.758 millions for the year 2013-14 as against the turnover of Rs. 1966.963 millions during the year 2012-13.
The Company earned net profit of Rs. 229.558 millions during the year 2013-14 as against the net profit of Rs. 215.182 millions during the year 2012-13.
The management of the company is hopeful for the better performance in the coming years.
MANAGEMENT
DISCUSSION AND ANALYSIS
OVERALL INDUSTRIAL VIEW
India’s economy to grow 4.7
per cent in 2013-14, according to the gross domestic product (GDP) provisional
estimates released, according to that the GDP growth rate in the previous year
was a decade-low of 4.5 per cent. This is the second year in a row during which
the economy’s growth remained below the 5 percent.
The manufacturing sector
contracted (-) 0.7 per cent in 2013-14 against 1.1 per cent in 2012-13.
Investments or capital formation fell due to low movement in infrastructure and
high interest rates. The situation in India has obviously gone through a
difficult period for the last couple of years, with growth below 5 per cent
after several years after it was eight per cent and even higher.
With the new Indian
government showing signs of economic reforms and brings in transparency in
governance, the World Bank feels that the world’s third-largest economy could
achieve a growth rate of 5.5 per cent this year as compared to 4.7 per cent
last year.
DYES AND INTERMEDIATES:
Dyestuff sector is one of
the core chemical industries in India. It is also the second highest export
segment in chemical industry. At present, India contributes about 6% of the
share in the global market with a CAGR of more than 15% in the last decade. The
dye markets are mostly dominated by reactive and disperse dyes. The demand for
reactive and disperse dyes is expected to grow in future.
REALTY INFRASTRUCTURE:
The Indian Real Estate
Industries is expected to give upward swing from 2015 onwards. The Present
Market Scenario is mixed way trend which is to the expectation of the Board of
Directors. However due to Managerial skill what the Board has, able to cope up
Such Challenges.
FIXED ASSETS
œ Land Freehold
œ Factory Building
œ Office Building
œ Plant and Machinery
œ Electric Installation
œ Laboratory Equipment’s
œ Office Equipment’s
œ Furniture and Fixtures
œ Vehicles
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) |
652.114 |
|
|
|
b) Other Operating Income |
12.537 |
|
|
|
Total Income from Operations (Net) |
664.651 |
|
|
2 |
Expenses |
|
|
|
|
a) |
(Increase) / Decreases in stock in trade |
(34.205) |
|
|
b) |
Consumption of raw material |
-- |
|
|
c) |
Staff cost |
2.173 |
|
|
d) |
Power, water and fuel |
0.095 |
|
|
e) |
Depreciation and impairment |
0.695 |
|
|
f) |
Purchase of traded goods |
627.085 |
|
|
g) |
Other expenses |
4.011 |
|
|
Total Expenses |
599.854 |
|
|
|
|
Profit / (Loss) from ordinary
activities before finance costs and exceptional items |
64.797 |
|
|
Finance Costs |
3.314 |
|
|
|
|
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items |
61.483 |
|
|
Exceptional Items |
-- |
|
|
|
Net Profit /(Loss) for the period |
61.483 |
|
|
|
Paid up equity share
capital (Eq. shares of Rs.10/- each) |
163.267 |
|
|
|
Reserve excluding
revaluation reserves |
|
|
|
|
|
Earnings per share
(before/after extraordinary items) of
Rs.10/- each |
|
|
|
|
Basic |
3.77 |
|
|
|
Diluted |
3.77 |
|
A |
|
PARTICULARS OF
SHAREHOLDING |
|
|
1 |
|
Public Shareholding |
|
|
|
|
- No. of Shares |
6854048 |
|
|
|
- Percentage of
Shareholding |
41.98% |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number of shares |
Nil |
|
|
|
- Percentage of shares (
as a % of the total shareholding of the promoter and promoter group) |
Nil |
|
|
|
- Percentage of shares (as
a % of the total share capital of the Company) |
Nil |
|
|
|
b) Non- encumbered |
|
|
|
|
- Number of shares |
9472694 |
|
|
|
- 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) |
58.02% |
UNAUDITED
RESULTS FOR THE QUARTER AND ENDED ON 30TH JUNE, 2014
|
|
Particulars |
Quarter
ended 30.06.2014 |
|
1. |
Segment Revenue (Sales and Other Operating
Income) |
|
|
a) |
Dyestuffs and Dye Intermediates Mfg. |
-- |
|
b) |
Infrastructure and Reality |
13.956 |
|
c) |
Trading and Finance |
650.695 |
|
|
TOTAL |
664.651 |
|
2. |
Segment Results: [Profit/ (Loss) before
tax and interest from each segment] |
|
|
|
Segment Revenue (Sales and Other Operating
Income) |
|
|
a) |
Dyestuffs and Dye Intermediates Mfg. |
-- |
|
b) |
Infrastructure and Reality |
13.956 |
|
c) |
Trading and Finance |
47.527 |
|
|
Total Profit/
Loss –before tax |
61.483 |
|
3. |
Capital Employed: |
|
|
|
Segment Revenue (Sales and Other Operating
Income) |
|
|
a) |
Dyestuffs and Dye Intermediates Mfg. |
155.306 |
|
b) |
Infrastructure and Reality |
593.546 |
|
c) |
Trading and Finance |
1513.225 |
|
|
TOTAL |
2262.077 |
NOTE:
1. The above results have been verified by the Audit committee at its meeting held on August 04, 2014 and taken on record by the Board of Directors at its meeting held on August 04, 2014.
2. The company has received two complaints during the period and resolved the same and pending complaint as on June 30, 2014 is Nil.
3. Tax provision for current year, if any, will be made at the time of finalization of accounts.
4. Segmentwise Report for Dyestuffs and Dye Intermediates Mfg., Infrastructure and Reality Segment. Trading and Finance Segment is enclosed.
5. Previous period figures have been regrouped / rearranged wherever necessary for comparison purposes
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.60.84 |
|
|
1 |
Rs.98.72 |
|
Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
Z
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.