MIRA
INFORM REPORT
|
Report Date : |
25.09.2014 |
IDENTIFICATION DETAILS
|
Name : |
RSWM LIMITED (w.e.f.17.11.2006) |
|
|
|
|
Formerly Known
As : |
RAJASTHAN
SPINNING AND WEAVING MILLS LIMITED |
|
|
|
|
Registered
Office : |
Kharigram, P. O.
Gulabpura, Bhilwara - 311021, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
17.10.1960 |
|
|
|
|
Com. Reg. No.: |
17-008216 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 231.487
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17115RJ1960PLC008216 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHR02418D /
JDHR02137C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR9700M |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Yarn, Fabric and Denim. |
|
|
|
|
No. of Employees
: |
13857 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is a part of LNJ Bhilwara Group. It is an established company having a satisfactory track record. Overall fundamental of the company seems to be strong and healthy. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealings 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.
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
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 |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
December 11, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry higher
credit risk. |
|
Date |
December 11, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
LOCATIONS
|
Registered Office/ Factory 1 : |
Kharigram, P. O.
Gulabpura, Bhilwara - 311021, Rajasthan, India |
|
Tel. No.: |
91-1482-223144-50 |
|
Fax No.: |
91-1482-223361 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Bhilwara Towers,
A-12, Sector–1, Post Box No. 185, Noida - 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4390300 |
|
Fax No.: |
91-120-2531648 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Mayur Nagar, Lodha, P.O. Banswara - 327001, Rajasthan, India |
|
|
|
|
Factory 3 : |
Mandpam, Bhilwara - 311001, Rajasthan, India |
|
|
|
|
Factory 4 : |
Rishabhdev, District Udaipur - 313802, Rajasthan, India |
|
|
|
|
Factory 5 : |
Ringas, District Sikar - 332404, Rajasthan, India |
|
|
|
|
Factory 6 : |
LNJ Nagar, Mordi, P.O. Banswara - 327001, Rajasthan, India |
|
|
|
|
Regional Marketing Offices : |
Solaris Building No.1, D-Wing, 3rd Floor, Sakivihar Road, Powal,
Andheri (East), Mumbai - 400072, Maharashtra, India |
|
|
|
|
Other Regional Marketing Offices : |
Located at: · Ahmedabad Bhilwara
Delhi Indore Ichalkaranji Kolkata Kanpur Ludhiana
Tirupur |
|
|
|
|
Overseas
Marketing Offices : |
Located at : ·
Italy ·
Belgium ·
UK |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. L. N.
Jhunjhunwala |
|
Designation : |
Chairman -
Emeritus |
|
|
|
|
Name : |
Mr. Ravi
Jhunjhunwala |
|
Designation : |
Chairman |
|
Date of Birth/
Age : |
28.10.1955 |
|
Qualification
: |
B.Com, (Hons.) MBA |
|
Expertise in specific functional areas : |
Industrialist
with diversified business experience |
|
Date of Appointment : |
18.05.1979 |
|
Other Directorship : |
· AD Hydro Power Limited Bhilwara
Energy Limited Bhilwara
Green Energy Limited BSL
Limited Cheslind
Textiles Limited HEG
Limited India
Glycols Limited Indo
Canadian Consultancy Services Limited JK
Lakshmi Cement Limited Malana
Power Company Limited Maral
Overseas Limited NJC
Hydro Power Limited |
|
|
|
|
Name : |
Mr. Shekhar
Agarwal |
|
Designation : |
Vice Chairman |
|
Qualification
: |
B. Tech. (M.E.),
M. Sc. ( |
|
Date of
Appointment : |
13.02.1984 |
|
|
|
|
Name : |
Mr. Arun K
Churiwal |
|
Designation : |
Managing Director
and Chief Executive Officer |
|
Date of Birth/
Age : |
15.05.1950 |
|
Qualification
: |
B.A. (Hons) |
|
Expertise in specific functional areas : |
Rich Experience of Textile Industry |
|
Date of Appointment : |
23.10.2003 |
|
Other Directorship : |
· BSL Limited La
Opala RG Limited LNJ
Financial Services Limited |
|
|
|
|
Name : |
Mr. Riju Jhunjhunwala |
|
Designation : |
Joint Managing Director |
|
Date of Birth/
Age : |
13.01.1979 |
|
Qualification
: |
Graduate in Business Management Studies |
|
Expertise in specific functional areas : |
Industrialist with diversified business experience. |
|
Date of Appointment : |
01.01.2013 |
|
Other Directorship : |
· Bhilwara Energy Limited Bhilwara
Green Energy Limited Bhilwara
Infotechnology Limited Bhilwara
Technical Textiles Limited Chango
Yangthang Hydro Power Limited Cheslind
Textiles Limited HEG
Limited LNJ
Power Ventures Limited NJC
Hydro Power Limited |
|
|
|
|
Name : |
Mr. Kamal Gupta |
|
Designation : |
Director |
|
Date of Birth/
Age : |
12.02.1946 |
|
Qualification
: |
FCA, FICWA, Ph. D |
|
Expertise in specific functional areas : |
Consultant in the areas of Finance, Accounting and Corporate
Laws, Former Technical Director of The Institute of Chartered Accountants of
India. |
|
Date of Appointment : |
26.12.1987 |
|
Other Directorship : |
· AD Hydro Power Limited Bhilwara
Energy Limited HEG
Limited Malana
Power Company Limited Maral
Overseas Limited PNB
Gilts Limited |
|
|
|
|
Name : |
Mr. D N Davar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Sushil
Jhunjhunwala |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. A. N.
Choudhary |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. T. G. Regunathan |
|
Designation : |
Director (Nominee, EXIM Bank) |
|
|
|
|
Name : |
Mr. J. C. Laddha |
|
Designation : |
Executive
Director |
|
Date of Birth/
Age : |
12.12.1949 |
|
Qualification
: |
B.Com., F.C.A. |
|
Experience : |
40 Years of Possesses rich experience in Textile Industry. |
|
Date of
Appointment : |
01.01.1990 |
KEY EXECUTIVES
|
CORPORATE OFFICE |
|
|
Name : |
Mr. Prakash Maheshwari |
|
Designation : |
Chief Executive (Corporate Management Services) |
|
|
|
|
Name : |
Mr. B. M. Sharma |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. T. Dev Joshi |
|
Designation : |
President (Corporate HR and OD) |
|
|
|
|
Name : |
Mr. M. L. Jhunjhunwala |
|
Designation : |
President, Mumbai |
|
BUSINESS HEADS |
|
|
Name : |
J. C. Laddha |
|
Designation : |
Chief Executive (Yarn and TPP) |
|
|
|
|
Name : |
S. C. Garg |
|
Designation : |
Chief Executive (Melange yarn) |
|
|
|
|
Name : |
Y. C. Gupta |
|
Designation : |
Chief Executive (Denim) |
|
|
|
|
Name : |
Mr. Nirmal Jain |
|
Designation : |
Chief Executive (Fabric) |
|
|
|
|
Name : |
Mr. Surender Gupta |
|
Designation : |
Company Secretary |
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 |
|
|
|
|
|
|
|
|
1808068 |
7.81 |
|
|
5163816 |
22.31 |
|
|
6971884 |
30.12 |
|
|
|
|
|
|
4934770 |
21.32 |
|
|
4934770 |
21.32 |
|
Total shareholding
of Promoter and Promoter Group (A) |
11906654 |
51.44 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
1582786 |
6.84 |
|
|
13430 |
0.06 |
|
|
1732 |
0.01 |
|
|
138283 |
0.60 |
|
|
100 |
0.00 |
|
|
1736331 |
7.50 |
|
|
|
|
|
|
2705043 |
11.69 |
|
|
|
|
|
|
3586925 |
15.50 |
|
|
1746490 |
7.54 |
|
|
1467246 |
6.34 |
|
|
44281 |
0.19 |
|
|
100 |
0.00 |
|
|
418500 |
1.81 |
|
|
1004365 |
4.34 |
|
|
9505704 |
41.06 |
|
Total Public
shareholding (B) |
11242035 |
48.56 |
|
Total (A)+(B) |
23148689 |
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) |
23148689 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Yarn, Fabric and Denim. |
||||||||
|
|
|
||||||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
13857 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Bikaner and Jaipur Axis
Bank Limited Bank of
Baroda Central
Bank of India Dena
Bank Export-Import
Bank of India ICICI
Bank Limited IDBI
Bank Limited Oriental
Bank of Commerce Punjab
National Bank State
Bank of India State
Bank of Mysore UCO
Bank Union
Bank of India |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
S. Bhargava Associates Chartered Accountants |
|
|
|
|
Auditors 2 : |
|
|
Name : |
A. L. Chechani and Company Chartered Accountants |
|
|
|
|
Enterprises that
directly or indirectly through one or more intermediaries, control or are controlled
by or are under common control with the reporting enterprise (this includes
holding companies, subsidiaries and fellow subsidiaries) : |
Cheslind Textiles Limited |
|
|
|
|
Associate : |
LNJ Power Ventures Limited |
|
|
|
|
Enterprises over
which any person described in (c) or (d) is able to exercise significant
influence : |
· Aadi Marketing Company Private Limited A.D.
Hydro Power Limited Agarwal
Finestate Private Limited Agarwal
Trademart Private Limited Apeksha
Vyapaar Private Limited Bhilwara
Energy Limited Bhilwara
Services Private Limited Bhilwara
Technical Textiles Limited BMD
Power Private Limited BMD
Private Limited BMD
Renewable Energy Private Limited BSL
Limited Churiwala
Properties and Investments Private Limited Diplomat
Leasing and Finance Private Limited Essay
Marketing Company Limited Giltedged
India Securities Limited HEG
Limited India
Texfab Marketing Limited Indo
Canadian Consultancy Services Limited Investors
India Limited Jyoti
Knits Private Limited Kalati Holdings
Private Limited LNJ
Financial Services Limited Malana
Power Company Limited Maral
Overseas Limited Mayur
Knits Private Limited Maheshwari
Vastra Bhandar Mandapam
Vikas Private Limited Mandawa
Niyojan Private Limited Nikita
Electrotrades Private Limited Nivedan
Vanijiya Niyojan Limited Prapti
Apparels Company Private Limited PRC
Niyojan Private Limited Purvi
Vanijya Niyojan Limited Raghav
Commercial Limited Raghav
Knits and Textiles Private Limited Shashi
Commercial Company Limited Sudiva
Spinners Private Limited Ultramarine
Impex Private Limited Veronia
Tie-up Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
47500000 |
Equity Shares |
Rs. 10/- each |
Rs. 475.000 Millions |
|
2500000 |
Optionally Convertible Redeemable Preference Shares |
Rs. 150/- each |
Rs. 375.000 Millions |
|
|
Total |
|
Rs. 850.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23148689 |
Equity Shares |
Rs. 10/- each |
Rs. 231.487
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 |
231.487 |
231.487 |
231.487 |
|
(b) Reserves & Surplus |
3722.221 |
3036.134 |
2616.485 |
|
Government Capital Grants |
0.000 |
18.124 |
20.991 |
|
(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) |
3953.708 |
3285.745 |
2868.963 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
6062.963 |
7126.534 |
8168.843 |
|
(b) Deferred tax liabilities (Net) |
720.316 |
485.727 |
352.712 |
|
(c) Other long
term liabilities |
76.764 |
55.990 |
63.522 |
|
(d) long-term
provisions |
178.909 |
172.576 |
141.588 |
|
Total Non-current
Liabilities (3) |
7038.952 |
7840.827 |
8726.665 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
4589.657 |
4666.297 |
3760.900 |
|
(b)
Trade payables |
363.394 |
411.614 |
300.100 |
|
(c)
Other current liabilities |
2242.845 |
2011.971 |
1659.515 |
|
(d) Short-term
provisions |
358.042 |
288.171 |
15.936 |
|
Total Current Liabilities
(4) |
7553.938 |
7378.053 |
5736.451 |
|
|
|
|
|
|
TOTAL |
18546.598 |
18504.625 |
17332.079 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
9593.196 |
7737.117 |
|
(ii)
Intangible Assets |
|
64.877 |
61.975 |
|
(iii)
Capital work-in-progress |
|
111.466 |
2509.338 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
1273.578 |
1106.714 |
602.714 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
393.415 |
240.778 |
424.082 |
|
(e) Other
Non-current assets |
11.196 |
11.211 |
8.748 |
|
Total Non-Current
Assets |
11145.255 |
11128.242 |
11343.974 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3762.511 |
3997.147 |
3255.490 |
|
(c)
Trade receivables |
2368.627 |
2160.747 |
1844.125 |
|
(d) Cash
and cash equivalents |
14.746 |
19.103 |
18.655 |
|
(e)
Short-term loans and advances |
357.544 |
283.632 |
284.707 |
|
(f)
Other current assets |
897.915 |
915.754 |
585.128 |
|
Total
Current Assets |
7401.343 |
7376.383 |
5988.105 |
|
|
|
|
|
|
TOTAL |
18546.598 |
18504.625 |
17332.079 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
28822.900 |
24532.920 |
19869.975 |
|
|
|
Other Income |
132.800 |
228.352 |
223.345 |
|
|
|
TOTAL (A) |
28955.700 |
24761.272 |
20093.320 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
16812.000 |
14776.742 |
13073.953 |
|
|
|
Purchases of traded goods |
529.700 |
218.653 |
174.544 |
|
|
|
Change in inventories of finished goods, work-in-progress and stock- in- trade |
176.000 |
(546.353) |
(229.800) |
|
|
|
Employee benefits expense |
2328.300 |
2042.502 |
1642.049 |
|
|
|
Other expenses |
5221.900 |
4958.016 |
3822.705 |
|
|
|
TOTAL (B) |
25067.900 |
21449.560 |
18483.451 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3887.800 |
3311.712 |
1609.869 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1217.600 |
1212.906 |
1040.362 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2670.200 |
2098.806 |
569.507 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1106.900 |
1084.538 |
891.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1563.300 |
1014.268 |
(321.520) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
575.300 |
335.607 |
(103.628) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
988.000 |
678.661 |
(217.892) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
FOB value of Export |
NA |
6861.837 |
6939.578 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
271.975 |
387.007 |
|
|
|
Components and Spare Parts |
NA |
161.926 |
121.246 |
|
|
|
Capital Goods |
NA |
286.730 |
1297.091 |
|
|
TOTAL IMPORTS |
NA
|
720.631 |
1805.344 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
42.68 |
29.32 |
(9.41) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
3.41
|
2.74
|
(1.08) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.42
|
4.13
|
(1.62) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.05
|
5.87
|
(2.26) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
0.31
|
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.69
|
3.59
|
4.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98
|
1.00
|
1.04 |
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 |
231.487 |
231.487 |
231.487 |
|
Reserves & Surplus |
2616.485 |
3036.134 |
3722.221 |
|
Government Capital Grants |
20.991 |
18.124 |
0.000 |
|
Net
worth |
2868.963 |
3285.745 |
3953.708 |
|
|
|
|
|
|
long-term borrowings |
8168.843 |
7126.534 |
6062.963 |
|
Short term borrowings |
3760.900 |
4666.297 |
4589.657 |
|
Total
borrowings |
11929.743 |
11792.831 |
10652.620 |
|
Debt/Equity ratio |
4.158 |
3.589 |
2.694 |
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 |
19869.975 |
24532.920 |
28822.900 |
|
|
|
23.467 |
17.487 |
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 |
19869.975 |
24532.920 |
28822.900 |
|
Profit/ [Loss] |
(217.892) |
678.661 |
988.000 |
|
|
(1.10%) |
2.77% |
3.43% |
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 |
Yes |
|
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 |
Yes |
|
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 |
LITIGATION DETAILS
RAJASTHAN HIGH COURT
CASE STATUS INFORMATION SYSTEM
Case Status: PENDING
|
Status of INCOME TAX APPEAL 134 of 2014 C.I.T. (TDS) JAIPUR Vs. M/S. RSWM LIMITED Pet’s Adv. : RB MATHUR Res’s Adv : Next Date of Hearing : Friday, July 25, 2014 Last Listed On : 04.07.2014 Court No. : 2 Category : FOR ADMISSION – NOTICE NOT ISSUED
|
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10474920 |
21/01/2014 |
320,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURA, BHILWARA - 311021, RAJASTHAN, INDIA |
B95221909 |
|
2 |
10443730 |
03/08/2013 |
95,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM, GULABPURA,
BHILWARA - 311021, RAJASTHAN, INDIA |
B82450230 |
|
3 |
10442614 |
24/07/2013 |
120,000,000.00 |
BANK OF BARODA |
GULABPURA,
BHILWARA- 311021, RAJASTHAN, INDIA |
B81952087 |
|
4 |
10435750 |
12/11/2013 * |
86,200,000.00 |
UNION BANK OF
INDIA |
15/251 RAJENDRA
MARG, BHILWARA - 311001, RAJASTHAN, INDIA |
B90792995 |
|
5 |
10435748 |
12/11/2013 * |
267,400,000.00 |
UNION BANK OF
INDIA |
15/251 RAJENDRA
MARG, BHILWARA - 311001, RAJASTHAN, INDIA |
B91176685 |
|
6 |
10417538 |
12/11/2013 * |
112,500,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURA, BHILWARA - 311021, RAJASTHAN, INDIA |
B90513235 |
|
7 |
10329983 |
08/08/2012 * |
402,500,000.00 |
DENA BANK |
M-36, CONNAUGHT
CIRCUS, NEW DELHI - 110001, INDIA |
B58439159 |
|
8 |
10298225 |
27/01/2012 * |
1,400,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI -
400005, MAHARASHTRA, INDIA |
B32567588 |
|
9 |
10302297 |
27/01/2012 * |
1,440,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURA, BHILWARA - 311021, RAJASTHAN, INDIA |
B31633803 |
|
10 |
10294269 |
27/01/2012 * |
595,000,000.00 |
ORIENTAL BANK OF
COMMERCE |
SHANTI BHAWAN,
BHILWARA - 311001, RAJASTHAN, INDIA |
B31644420 |
|
11 |
10054519 |
27/03/2009 * |
250,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURA, BHILWARA - 311021, RAJASTHAN, INDIA |
A60601150 |
|
12 |
10055694 |
02/07/2012 * |
66,500,000.00 |
ORIENTAL BANK OF
COMMERCE |
SHANTI BHAWAN, BHILWARA
- 311001, RAJASTHAN, INDIA |
B44478980 |
|
13 |
10040542 |
27/03/2009 * |
250,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI -
400005, MAHARASHTRA, INDIA |
A60540408 |
|
14 |
10034916 |
06/11/2009 * |
70,000,000.00 |
CENTRAL BANK OF
INDIA |
PIPALI CHORAYA,
BIJAI NAGAR - 305624, RAJASTHAN, INDIA |
A72762065 |
|
15 |
10041347 |
27/03/2009 * |
500,000,000.00 |
STATE BANK OF
INDIA |
13, DEEPAK
BUILDING, NEHRU PLACE, NEW DELHI - 110019, INDIA |
A60541711 |
|
16 |
10041349 |
29/07/2009 * |
556,200,000.00 |
PUNJAB NATIONAL
BANK |
MID CORPORATE
BRANCH, M I ROAD, JAIPUR - 302001, RAJASTHAN , INDIA |
A68084656 |
|
17 |
10041342 |
24/07/2009 * |
130,000,000.00 |
STATE BANK OF
INDORE |
COMMERCIAL
BRANCH, M-47, CONNAUGHT CIRCUS, NEW DELHI - 110001, INDIA |
A67261388 |
|
18 |
10022053 |
27/03/2009 * |
500,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURS - 311021, RAJASTHAN, INDIA |
A60606076 |
|
19 |
10020758 |
27/03/2009 * |
1,000,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI -
400005, MAHARASHTRA, INDIA |
A60719960 |
|
20 |
10017317 |
27/03/2009 * |
500,000,000.00 |
STATE BANK OF
MYSORE |
NO.3,4 & 5,
DDA BUILDING, NEHRU PLACE, NEW DELHI - 110019, INDIA |
A62147574 |
|
21 |
10007935 |
27/03/2009 * |
510,000,000.00 |
CENTRAL BANK OF
INDIA |
PIPALI CHORAYA,
BIJAINAGAR - 305624, RAJASTHAN, INDIA |
A60342516 |
|
22 |
10005341 |
27/03/2009 * |
520,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI -
400005, MAHARASHTRA, INDIA |
A60541257 |
|
23 |
10005105 |
27/03/2009 * |
500,000,000.00 |
STATE BANK OF
MYSORE |
NO.3,4 & 5, DDA
BUILDING, NEHRU PLACE, NEW DELHI - 110019, INDIA |
A62153721 |
|
24 |
80007568 |
27/03/2009 * |
100,000,000.00 |
EXPORT-IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI -
400005, MAHARASHTRA, INDIA |
A60539079 |
|
25 |
80016859 |
27/03/2009 * |
247,500,000.00 |
PUNJAB NATIONAL
BANK |
MID CORPORATE
BRANCH, M I ROAD, JAIPUR- 302001, RAJASTHAN , INDIA |
A60597994 |
|
26 |
80016865 |
27/03/2009 * |
247,500,000.00 |
UNION BANK OF
INDIA |
239, VIDHAN BHAWAN
MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
A60664364 |
|
27 |
80016854 |
27/03/2009 * |
105,000,000.00 |
PUNJAB NATIONAL
BANK |
MID CORPORATE
BRANCH, M I ROAD, JAIPUR- 302001, RAJASTHAN , INDIA |
A60597515 |
|
28 |
80013179 |
27/03/2009 * |
250,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURA - 311021, RAJASTHAN, INDIA |
A60604832 |
|
29 |
80016906 |
27/03/2009 * |
250,000,000.00 |
UNION BANK OF
INDIA |
239, VIDHAN BHAWAN
MARG, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
A60664554 |
|
30 |
80007572 |
12/11/2013 * |
7,760,000,000.00 |
STATE BANK OF
BIKANER AND JAIPUR |
KHARIGRAM,
GULABPURA - 311021, RAJASTHAN, INDIA |
B90485756 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Deferred Payment Liabilities |
NA |
12.286 |
|
|
|
|
|
Total |
NA |
12.286 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
A. CONTINGENT
LIABILITY NOT PROVIDED FOR : |
|
|
|
(a) Claims against the Company not acknowledged as debt |
4.493 |
4.493 |
|
(b) Guarantees |
|
|
|
(i) Default
deferred payment guarantee to Exim Bank, ICICI, IDBI, Canara Bank, SBI and
SBOM for securing loan given to Cheslind Textiles Limited Outstanding Loan
{Maximum amount for which company may be liable during next 12 Months –
Rs.1.244 Millions} |
84.892 |
81.631 |
|
(ii) Guarantee
in favour of International Finance Corporation with HEG Limited on joint and
several basis on behalf of AD Hydro Power Limited |
60.000 |
60.000 |
|
(iii) Guarantee
by ICICI Bank Limited to LNJ Power Venture Limited |
100.000 |
0.000 |
|
(iv) Bills
discounted with banks |
1024.419 |
915.168 |
|
(c) Other money
for which the Company is contingently liable. |
|
|
|
(i) Excise and
Customs Duties, Sales tax and Other demands disputed by the Company |
29.630 |
27.385 |
|
(ii) Future
Export Obligation Against EPCG |
188.300 |
1099.700 |
FIXED ASSETS:
Tangible Assets
· Free Hold Land
Lease
Hold Land
Buildings
Plant and
Equipments
Furniture
Fixture and Other
Vehicles
Office
Equipments
Electric
Fitting and Water Supply Installation
Intangible Assets
·
Computer Software
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. 61.03 |
|
|
1 |
Rs. 99.99 |
|
Euro |
1 |
Rs. 78.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.