MIRA
INFORM REPORT
|
Report Date : |
20.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
TIRUPATI FOAM LIMITED (w.e.f.29.02.1996) |
|
|
|
|
Formerly Known
As : |
TIRUPATI FOAMS PRIVATE LIMITED |
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|
|
|
Registered
Office : |
Tirupati House, 4th Floor, Near Topaz Restaurant,
University Road, Polytechnic Char Rasta, Ambawadi, Ahmadabad - 380015,
Gujarat. |
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|
|
Country : |
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
14.10.1986 |
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|
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Com. Reg. No.: |
04-009071 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 44.392 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25199GJ1986PLC009071 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMTOOL32G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5741N |
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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 Polyurethane Foam. |
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|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 : |
Usually correct |
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|
|
|
Litigation : |
Not Available |
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Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s sound financial risk
profile and fair profitability levels of the company. 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.
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.
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-79-26304652)
LOCATIONS
|
Registered Office : |
Tirupati House, 4th Floor, Near Topaz Restaurant,
University Road, Polytechnic Char Rasta, Ambawadi, Ahmadabad - 380015,
Gujarat, India |
|
Tel. No.: |
91-79-26304652 |
|
Mobile No.: |
91-9825263645 (Mr. Amit Mehta) |
|
Fax No.: |
91-79-26304658 |
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E-Mail : |
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|
Website : |
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|
Area : |
5000 sq. ft. |
|
Location : |
Owned |
|
|
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|
Factory : |
Plot No.4-A, Block No.65, Village Khatraj, Post Khatraj, Taluka Kalol,
District Gandhinagar, Gujarat, India |
|
Tel. No.: |
91-2764-281049 / 281224 |
|
Fax No.: |
91-2764-281225 |
DIRECTORS
As on 30.09.2013
|
Name : |
Venibhai Bhudarji Purohit |
|
Designation : |
Director |
|
Address : |
601, Gurukripa Apartment, Near Sharda Apartment, Ramchandra Lane, Malad (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
15.07.1933 |
|
Date of Appointment : |
14.10.1986 |
|
DIN No. : |
00155932 |
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|
|
|
Name : |
Roshankumar Poonamchand Sanghavi |
|
Designation : |
Managing director |
|
Address : |
289/A, Manekbaug Society, Behind Manekbaug Hall, Near Nehrunagar Char Rasta, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
27.06.1966 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
17.08.1993 |
|
PAN No. : |
ACEPS6420L |
|
DIN No. : |
01006989 |
|
|
|
|
Name : |
Satishkumar Amrutlal Mehta |
|
Designation : |
Whole-time director |
|
Address : |
68, Tapovan Society, Near Manekbaug Society, Shanti Towers Gali, Ambawadi, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
04.05.1962 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
17.08.1993 |
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PAN No. : |
AAZPM1813E |
|
DIN No. : |
01007020 |
|
|
|
|
Name : |
Deepakkumar Takhatmal Mehta |
|
Designation : |
Whole-time director |
|
Address : |
11, Tapovan Society, Opposite Jain Upashray, Ambawadi, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
30.09.1966 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
24.05.1995 |
|
PAN No. : |
AAXPM0598E |
|
DIN No. : |
00156096 |
|
|
|
|
Name : |
Manharlal Amrutlal Mehta |
|
Designation : |
Director |
|
Address : |
6-B, Matangi Building, 17 Marve Road, Malad (West), Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
30.09.1951 |
|
Date of Appointment : |
14.10.1986 |
|
DIN No. : |
00156016 |
|
|
|
|
Name : |
Mukeshbhai Babulal Kothari |
|
Designation : |
Director |
|
Address : |
3/8, Malad Co-operative Society, Podar Road, Malad (East), Mumbai, Maharashra, India |
|
Date of Birth/Age : |
13.05.1965 |
|
Date of Appointment : |
24.04.1995 |
|
DIN No. : |
00156145 |
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|
|
|
Name : |
Mukeshkumar Babulal Shah |
|
Designation : |
Director |
|
Address : |
Bunglow No.22, Adarsh 23, Opposite Swati Bunglows, Bodakdev, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
28.12.1961 |
|
Date of Appointment : |
14.10.1986 |
|
DIN No. : |
01711956 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Category of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
2829086 |
64.20 |
|
|
2829086 |
64.20 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
2829086 |
64.20 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
52423 |
1.19 |
|
|
|
|
|
|
410251 |
9.31 |
|
|
1106917 |
25.12 |
|
|
8323 |
0.19 |
|
|
8323 |
0.19 |
|
|
1577914 |
35.80 |
|
Total Public shareholding (B) |
1577914 |
35.80 |
|
Total (A)+(B) |
4407000 |
100.00 |
|
(C) Shares held by Custodians and against which
Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
4407000 |
100.00 |
Shareholding of securities (including shares,
warrants, convertible securities) of persons belonging to the category Promoter
and Promoter Group
|
Sl.No. |
Name of the Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % |
||
|
1 |
|
28,29,086 |
64.20 |
|
|
Total |
28,29,086 |
64.20 |
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
|
Sl. No. |
Name of the Shareholder |
No. of Shares held |
Shares as % |
|
|
1 |
Alpa Manish Sanghvi |
151400 |
3.44 |
|
|
2 |
Amit Poonamchand Mehta |
143500 |
3.26 |
|
|
3 |
Shruti V Mehta |
130000 |
2.95 |
|
|
4 |
Rita K Kothari |
71310 |
1.62 |
|
|
5 |
Poonamchand N Mehta |
65100 |
1.48 |
|
|
6 |
Chartered Capital Investment Limited |
50000 |
1.13 |
|
|
7 |
Anurag Deepak Mehta |
45900 |
1.04 |
|
|
|
Total |
657210 |
14.91 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyurethane Foam. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
Bank of India, Ellisbridge Branch, Opposite Town Hall Ellisbridge, Ahmedabad -380006, Gujarat, India |
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||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Mayank Shah and Associates Chartered Accountants |
|
Address : |
706/708-A, Mahakant, Opposite V.S. Hospital, Ellisbridge, Ahmedabad – 380006, Gujarat, India |
|
Tel. No. : |
91-79-26575642/ 26579106 |
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E-Mail : |
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|
Income-tax
PAN of auditor or auditor's firm : |
AMEPS9579G |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs.
44.392 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 |
44.392 |
44.070 |
44.070 |
|
(b) Reserves & Surplus |
133.703 |
129.200 |
123.619 |
|
(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) |
178.095 |
173.270 |
167.689 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
205.870 |
220.282 |
209.875 |
|
(b) Deferred tax liabilities (Net) |
6.710 |
7.761 |
7.275 |
|
(c) Other long term liabilities |
1.623 |
1.276 |
1.004 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
214.203 |
229.319 |
218.154 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
208.770 |
177.961 |
115.831 |
|
(b) Trade payables |
95.884 |
98.944 |
49.180 |
|
(c) Other current
liabilities |
38.696 |
38.082 |
36.674 |
|
(d) Short-term provisions |
7.788 |
0.051 |
6.196 |
|
Total Current Liabilities (4) |
351.138 |
315.038 |
207.881 |
|
|
|
|
|
|
TOTAL |
743.436 |
717.627 |
593.724 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
263.525 |
271.169 |
267.162 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.002 |
0.002 |
0.003 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.863 |
1.231 |
5.489 |
|
(e) Other Non-current assets |
0.048 |
1.354 |
1.831 |
|
Total Non-Current Assets |
265.438 |
273.756 |
274.485 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
128.737 |
145.186 |
98.660 |
|
(c) Trade receivables |
310.518 |
267.812 |
199.785 |
|
(d) Cash and cash
equivalents |
11.451 |
5.021 |
1.906 |
|
(e) Short-term loans and
advances |
27.292 |
25.852 |
18.888 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
477.998 |
443.871 |
319.239 |
|
|
|
|
|
|
TOTAL |
743.436 |
717.627 |
593.724 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
946.441 |
768.187 |
605.595 |
|
|
|
Other Income |
4.351 |
5.516 |
2.982 |
|
|
|
TOTAL (A) |
950.792 |
773.703 |
608.577 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
808.187 |
657.280 |
518.346 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
5.221 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(5.448) |
(17.289) |
(14.238) |
|
|
|
Employees benefits expense |
6.690 |
3.800 |
2.229 |
|
|
|
Other expenses |
50.286 |
51.837 |
43.118 |
|
|
|
TOTAL (B) |
859.715 |
695.628 |
554.676 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
91.077 |
78.075 |
53.901 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.344 |
47.555 |
25.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
39.733 |
30.520 |
28.560 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.858 |
22.401 |
11.803 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
17.875 |
8.119 |
16.757 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.314 |
2.538 |
5.502 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
12.561 |
5.581 |
11.255 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
55.149 |
49.568 |
44.749 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend |
NA |
0.000 |
5.288 |
|
|
|
Distribution tax |
NA |
0.000 |
0.858 |
|
|
|
Transfer to general reserve |
NA |
0.000 |
0.290 |
|
|
BALANCE CARRIED
TO THE B/S |
NAS |
55.149 |
49.568 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
245.713 |
125.440 |
|
|
TOTAL IMPORTS |
NA |
245.713 |
125.440 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
2.85 |
1.27 |
2.55 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2014 |
|
|
|
|
1st
Quarter |
|
Net Sales |
|
|
205.300 |
|
Total Expenditure |
|
|
184.300 |
|
PBIDT (Excl OI) |
|
|
21.000 |
|
Other Income |
|
|
1.600 |
|
Operating Profit |
|
|
22.700 |
|
Interest |
|
|
13.000 |
|
Exceptional Items |
|
|
0.000 |
|
PBDT |
|
|
9.700 |
|
Depreciation |
|
|
6.000 |
|
Profit Before Tax |
|
|
3.700 |
|
Tax |
|
|
(0.700) |
|
Provisions and
contingencies |
|
|
0.000 |
|
Profit After Tax |
|
|
4.300 |
|
Extraordinary
Items |
|
|
0.000 |
|
Prior Period
Expenses |
|
|
0.000 |
|
Other Adjustments |
|
|
0.000 |
|
Net Profit |
|
|
4.300 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.32 |
0.72 |
1.85 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.89 |
1.06 |
2.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.40 |
1.13 |
2.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.05 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.33 |
2.30 |
1.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.41 |
1.54 |
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 |
44.070 |
44.070 |
44.392 |
|
Reserves & Surplus |
123.619 |
129.200 |
133.703 |
|
Net
worth |
167.689 |
173.270 |
178.095 |
|
|
|
|
|
|
long-term borrowings |
209.875 |
220.282 |
205.870 |
|
Short term borrowings |
115.831 |
177.961 |
208.770 |
|
Total
borrowings |
325.706 |
398.243 |
414.640 |
|
Debt/Equity
ratio |
1.942 |
2.298 |
2.328 |
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 |
605.595 |
768.187 |
946.441 |
|
|
|
26.848 |
23.205 |
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 |
605.595 |
768.187 |
946.441 |
|
Profit |
11.255 |
5.581 |
12.561 |
|
|
1.86% |
0.73% |
1.33% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturities of Long Term Debts |
NA |
25.346 |
23.382 |
|
|
|
|
|
|
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 |
No |
|
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 |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10473449 |
03/01/2014 |
6,500,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPPOSITE TOWN HALL ELLISBRIDGE, AH |
B94671153 |
|
2 |
10388837 |
03/01/2014 * |
299,500,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPPOSITE TOWN HALL ELLISBRIDGE, AH |
B94672581 |
|
3 |
10388835 |
03/01/2014 * |
471,750,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPPOSITE TOWN HALL ELLISBRIDGE, AH |
B94669793 |
|
4 |
10284321 |
17/03/2011 |
880,065.00 |
KOTAK MAHINDRA PRIME LIMITED |
KOTAK INFINITI, 4TH
FLOOR, BUILDING NO.21, INFIN |
B11639770 |
|
5 |
10254415 |
01/12/2010 |
74,600,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH, AHMEDABAD, GUJARAT - 380006, INDIA |
B01119759 |
|
6 |
80023087 |
07/01/2014 * |
471,750,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPP TOWN HALL ELLISBRIDGE, AH |
B94671575 |
|
7 |
80023086 |
03/01/2014 * |
200,000,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPP TOWN HALL ELLISBRIDGE, AH |
B94669553 |
|
8 |
80023083 |
03/01/2014 * |
232,250,000.00 |
BANK OF INDIA |
ELLISBRIDGE BRANCH,
OPP TOWN HALL ELLISBRIDGE, AH |
B94670817 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
Loans and advances from directors |
59.254 |
|
Loans and advances from others |
41.734 |
|
Total |
100.988 |
STATEMENT OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND YEAR ENDED 30TH
JUNE, 2014
PART I
(Rs. In Millions)
|
Sr. No. |
Particulars |
Quarter Ended 30.06.2014 Unaudited |
|
1 |
Income from operations |
|
|
a. |
Net Sales/ Income from operation |
205.310 |
|
b. |
Other Operating Income |
0.000 |
|
|
Total |
205.310 |
|
|
|
|
|
2. |
Expenditure |
|
|
a. |
(-)Increase/(+)Decrease in stock in trade |
0.034 |
|
b. |
Cost of material consumed |
170.988 |
|
c. |
Employee benefits expenses |
1.455 |
|
d. |
Other Expenditure |
11.794 |
|
e. |
Depreciation |
6.030 |
|
|
Total |
190.301 |
|
3. |
Profit from operation before other income interest and exceptional items (1-2) |
15.009 |
|
4. |
Other Income |
1.640 |
|
5. |
Profit before financial cost and exceptional items (3+4) |
16.649 |
|
6. |
Financial Cost |
12.998 |
|
7. |
Profit from financial cost but before exceptional items |
3.651 |
|
8. |
Exceptional Items |
0.000 |
|
9. |
Profit/ (Loss) from ordinary activities before tax (7+8) |
3.651 |
|
10. |
Tax expenses including deferred tax |
(0.687) |
|
11. |
Net Profit/ (Loss) from ordinary activities after tax (9-10) |
4.338 |
|
12. |
Extraordinary items (net of tax expenses) |
0.000 |
|
13. |
Net Profit/ (Loss) for the period (12-13) |
4.338 |
|
14. |
Share of Profit/ (Loss) of associates |
0.000 |
|
15. |
Minority Interest |
0.000 |
|
16. |
Net Profit/ (Loss) after taxes, minority interest, share of profit/(loss) of associates |
4.338 |
|
17. |
Paid up equity share capital (Face value Rs. 10/-) |
44.070 |
|
18. |
Reserve excluding revaluation reserves as per previous accounting year |
0.000 |
|
19. i. |
Earning Per Share (before extraordinary Items) (of Rs. 10/- each) (not annualised) |
|
|
|
1.Basic EPS |
0.98 |
|
|
2.Diluted EPS |
0.98 |
|
|
|
|
|
20. ii |
Earning Per Share (after extraordinary Items) (of Rs. 10/- each) (not annualised) |
|
|
|
1.Basic EPS |
0.98 |
|
|
2.Diluted EPS |
0.98 |
|
Sr. No. |
Particulars |
Quarter Ended 30.06.2014 Unaudited |
|
|
|
|
|
1. |
Public
Shareholding |
|
|
|
-Number of Shares |
1577914 |
|
|
- Percentage of Shareholding |
35.80 |
|
|
|
|
|
2. |
Promoters
and Promoter Group Shareholding |
|
|
|
a) Pledged/Encumbered |
|
|
|
- Number of Shares |
0.00 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
0.00 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
0.00 |
|
|
|
|
|
|
b)
Non Encumbered |
|
|
|
- Number of Shares |
2829086 |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of Promoter and Promoter Group) |
100.00 |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
64.20 |
|
Particulars |
Quarter ended 30.06.2014 |
|
B INVESTOR COMPLAINTS (Nos.) |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed of during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
NOTE
1. The Company is primarily engaged in only one segment. There are no reportable segments as per AS 17.
2. The figures of last quarter are the balancing figures between audited figures
in respect of the full financial year and the published year to date figures
upto the third quarter of the current financial year.
3. The above results have been reviewed by the Audit Committee of the board of directors
and approved by the Board of Directors at their meeting held on August 14, 2014
and has been approved for release.
4. The previous year’s figures have been regrouped wherever necessary.
5. Income tax expense is accrued in accordance with AS 22 "Accounting for
taxes on income" which includes current taxes and deferred taxes.
6. From April 01, 2014, new Companies Act, 2013 has come into force as per
Schedule II of the Companies Act, 2013; company has revised the useful life of
the Company’s Fixed Assets for providing depreciation on it. Accordingly,
carrying amount as on April 01, 2014 has been depreciated over the remaining
useful life of the fixed assets. Due to this change the depreciation for the
quarter ended June 30, 2014 is higher and profit before tax is lower to the
extent of Rs. 1.066 Millions.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Other
Equipments
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.60.81 |
|
|
1 |
Rs.100.06 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
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 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
45 |
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.