MIRA INFORM REPORT

 

 

Report No. :

316461

Report Date :

08.04.2015

 

IDENTIFICATION DETAILS

 

Name :

PASUPATI ACRYLON LIMITED

 

 

Registered Office :

Thakurdwara, Kashipur Road, District Moradabad – 244601, Uttar Pradesh

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

22.10.1982

 

 

Com. Reg. No.:

20-015532

 

 

Capital Investment / Paid-up Capital :

Rs.891.410 Million

 

 

CIN No.:

[Company Identification No.]

L50102UP1982PLC015532

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELP08493C

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturers of Acrylic Staple Fibre.

 

 

No. of Employees :

200 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track record.

 

The rating is constrained on account of some accumulated losses incurred by the company.

 

However, trade relation are reported as fair. Business is active. Payment terms are reported to be slow but correct.

 

The company can be considered for business dealings with some caution.

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CRISIL

Rating

Long term rating = B+

Rating Explanation

High risk of default

Date

June 30, 2014

 

Rating Agency Name

CRISIL

Rating

Short term rating = A4

Rating Explanation

Minimal degree of safety. It carry very high credit risk.

Date

June 30, 2014

 

 

RBI DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2014.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Vinshan

Designation :

Assistant of Marketing

Contact No.:

91-161-5083473

Date :

07.04.2015

 

 

LOCATIONS

 

Registered Office :

Thakurdwara, Kashipur Road, District Moradabad – 244601, Uttar Pradesh, India

Tel. No.:

91-161-5083473

Fax No.:

Not Available

E-Mail :

works@pasupatiacrylon.com

delhi@pasupatiacrylon.com

Website :

http://www.pasupatiacrylon.com

 

 

Sales Office :

17-A-18-19, 1st Floor, Jandu Tower, Milerganj, G T Road, Ludhiana, Punjab, India

Tel. No.:

91-161-5083473 / 2541043

 

 

Corporate Office :

M-14, Connaught Circus, Middle Circle, New Delhi – 110 001, India

Tel. No.:

91-11-23715125 / 23723682 / 3656 / 23315901 / 47627400

Fax No.:

91-11-2331 0684 / 23730598 / 47627497

E-Mail :

pal@giasdl01.vsnl.net.in

 

 

DIRECTORS

 

As on 31.03.2014

 

Name :

Mr. Vineet Jain

Designation :

Managing Director

 

 

Name :

Mr. M. M. Kohli

Designation :

Director

Date of Birth/Age :

01.06.1930

Qualification :

M.A. (Economics)

Date of Appointment :

01.02.1989

 

 

Name :

Mr. S. C. Malik

Designation :

Director

Date of Birth/Age :

10.01.1950

Qualification :

B.Com, (Hons), FCA

Date of Appointment :

14.02.2012

 

 

Name :

Mr. Sathyamoorthy

Designation :

Director

 

 

Name :

Mr. Devender Singh

Designation :

Director (PICUP Nominee)

 

 

Name :

Mr. Rakesh Gupta

Designation :

Director (PICUP Nominee)

 

Name :

Mr. Rakesh Mundra

Designation :

Director (Finance)

Date of Birth/Age :

14.04.1960

Qualification :

FCA, FCS and ACMA

Date of Appointment :

14.02.2012

Other Directorship:

AMG Mercantile Private Limited

 

 

 

KEY EXECUTIVES

 

Name :

Mr. Rakesh Mundra

Designation :

Company Secretary

 

 

Name :

Mr. Vinshan

Designation :

Assistant of Marketing

 

 

SHAREHOLDING PATTERN

 

As on 31.12.2014

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

As a % of (A+B)

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

17454996

19.58

http://www.bseindia.com/include/images/clear.gifBodies Corporate

36778697

41.26

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

4481752

5.03

http://www.bseindia.com/include/images/clear.gifSub Total

58715445

65.87

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

58715445

65.87

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

181755

0.20

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

6885

0.01

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

36000

0.04

http://www.bseindia.com/include/images/clear.gifSub Total

224640

0.25

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

3155917

3.54

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

14579250

16.36

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

7680944

8.62

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

4776925

5.36

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

686948

0.77

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

1710

0.00

http://www.bseindia.com/include/images/clear.gifForeign Corporate Bodies

4088177

4.59

http://www.bseindia.com/include/images/clear.gifSocieties

90

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

30193036

33.87

Total Public shareholding (B)

30417676

34.13

Total (A)+(B)

89133121

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

89133121

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers of Acrylic Staple Fibre.

 

 

Products :

Not Available

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

 

PRODUCTION STATUS = NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

No. of Employees :

200 (Approximately)

 

 

Bankers :
  • Allahabad Bank
  • State Bank of Patiala
  • UCO Bank
  • Bank of Maharashtra
  • State Bank of Travancore
  • Bank of Baroda
  • Canara Bank

 

 

Facilities :

SECURED LOANS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Rupee Loan

145.768

191.556

Working Capital Term Loan

22.398

43.091

Vehicle Loan

2.784

4.556

 

 

 

SHORT TERM BORROWINGS

 

 

Loans repayable on demand from Banks

8.765

37.672

Other Loans and Advances

 

 

Foreign Currency Buyers Credit

200.689

457.463

 

 

 

Total

380.404

734.338

Note:

 

  1. Loans of Rs.28.166 Million (Previous year Rs.54.647 Million) are secured interse on pari-passu basis by way of mortgage of immovable properties and hypothecation of all moveable properties (save and except book debts) both present and future subject to prior charges created in favour of company’s bankers for working capital facilities and further guaranteed by the Managing Director.
  2. Secured by hypothecation of specified assets acquired out of the loan amount.
  3. Loan of Rs.140.000 Million (previous year Rs.180.000 Million) are secured by 1st charge on New Plant and Machinery on pari-passu basis. 2nd Pari-passu charge by way of hypothecation of current assets of the Company, subject to existing charge of working capital bankers and assignment of project related documents, contract right interest, insurance contracts etc. and further guaranteed by the Managing Director.
  4. Secured by hypothecation of book debts, raw-material, finished goods, semi-finished goods, consumable stores and spares including in transit and also secured by a second charge by way of mortgage of immovable properties both present and future and further guaranteed by the managing director.

 

 

 

Auditors :

 

Name :

B. K. Shroff and Company

Chartered Accountants

Address :

New Delhi, India

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Enterprises over which key management personnel/relative have significant influence :
  • Prabhat Capital Services Limited
  • Accurex Traders Private Limited
  • Gurukripa Finvest Private Limited
  • Ujjwal Commodities Private Limited
  • Sulabh Plantation and Finance Private Limited

 

 

Other related parties :
  • Pasupati Officer’s Provident Fund Trust
  • The Pasupati Acrylon Limited. Employees Superannuation Scheme
  • The Pasupati Acrylon Limited. Employees Group Gratuity Scheme

 

 

 

 

 

CAPITAL STRUCTURE

 

As on 31.03.2014

 

Authorized Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

100000000

Equity Shares

Rs.10/-each

Rs.1000.000 Million

 

 

 

 

 

Issued Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

89158825

Equity Shares

Rs.10/-each

Rs.891.588 Million

 

 

 

 

 

Subscribed & Paid-up Capital

No. of Shares

Type

Value

Amount

 

 

 

 

89133121

Equity Shares

Rs.10/-each

Rs.891.410 Million

 

 

 

 

 

Note:

 

  1. Does not include 15800 Shares Previous year 15800 Shares) forfeited in earlier years, amount forfeited Rs.0.079 Million (Previous year Rs.0.079 Million) included in share capital subscribed and paid up.

 

  1. Presently no options are available on un-issued share capital except convertibility clause(s), which can be exercised by the Financial Institution(s) in terms of loan agreement(s).

 

Details of shares in the company held by each shareholder holding more than 5% of shares is as under:

 

Particulars

31.03.2014

No. of Shares

% of holding

Manish Jain

15649232

17.56

Shubh Exim Limited

4500000

5.05

PICUP

4481752

5.03

Arihant Exports Private Limited

4627867

5.19

Gurukripa Finvest Private Limited

9000000

10.10

Sulabh Plantation and Finance Private Limited

8250000

9.26

 

 

FINANCIAL DATA

[All figures are in Rupees Million]

 

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

891.410

891.410

891.410

(b) Reserves & Surplus

(124.719)

(123.511)

29.955

(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)

766.691

767.899

921.365

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

243.950

312.203

342.452

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(c) Other long term liabilities

25.906

40.828

34.203

(d) long-term provisions

15.240

9.059

7.873

Total Non-current Liabilities (3)

285.096

362.090

384.528

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

371.604

518.117

438.187

(b) Trade payables

1219.974

884.272

969.104

(c) Other current liabilities

197.989

209.058

190.038

(d) Short-term provisions

18.683

15.530

15.413

Total Current Liabilities (4)

1808.250

1626.977

1612.742

 

 

 

 

TOTAL

2860.037

2756.966

2918.635

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

853.295

1049.373

941.748

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

0.000

215.794

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.000

0.000

0.000

(c) Deferred tax assets (net)

235.460

269.013

239.583

(d)  Long-term Loan and Advances

0.000

0.000

7.049

(e) Other Non-current assets

0.695

0.697

0.546

Total Non-Current Assets

1089.450

1319.083

1404.720

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1135.575

1058.196

1050.871

(c) Trade receivables

334.837

208.510

185.038

(d) Cash and cash equivalents

161.719

121.117

128.158

(e) Short-term loans and advances

49.726

38.397

76.402

(f) Other current assets

88.730

11.663

73.446

Total Current Assets

1770.587

1437.883

1513.915

 

 

 

 

TOTAL

2860.037

2756.966

2918.635

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

5305.975

4165.885

3952.658

 

Other Income

37.543

43.199

39.251

 

TOTAL

5343.518

4209.084

3991.909

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

3692.042

3152.681

2762.840

 

Purchases of Stock-in-Trade

0.990

0.962

0.645

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

227.066

(65.154)

165.514

 

Exceptional Items

31.830

0.000

(134.538)

 

Exceptional Items-Exchange Fluctuation (Loss)

0.000

0.000

148.406

 

Employees benefits expense

181.717

169.652

153.003

 

Other expenses

922.248

875.072

889.172

 

TOTAL

5055.893

4133.213

3985.042

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

287.625

75.871

6.867

 

 

 

 

 

Less

FINANCIAL EXPENSES

98.278

127.089

102.276

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

189.347

(51.218)

(95.409)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

82.594

47.208

29.371

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

106.753

(98.426)

(124.780)

 

 

 

 

 

Less

TAX

34.160

(29.176)

(37.804)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

72.593

(69.250)

(86.976)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

675.514

335.604

496.891

 

TOTAL EARNINGS

675.514

335.604

496.891

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

3306.263

2859.514

2526.436

 

Components and Stores parts

4.516

7.059

14.118

 

TOTAL IMPORTS

3310.779

2866.573

2540.554

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

0.81

(0.78)

(0.98)

 

 

QUARTERLY RESULTS

 

PARTICULARS

 

June 2014 Unaudited

September 2014 Unaudited

December 2014 (Unaudited)

Net sales

1305.000

1398.200

1385.600

Total Expenditure

1152.700

1253.500

1331.400

PBIDT (Excl Ol)

152.300

144.700

54.200

Other Income

5.500

4.100

3.800

Operating Profit

157.800

148.800

58.00

Interest

17.000

20.800

16.400

Exceptional Items

0.000

0.000

0.000

PBDT

140.800

128.000

41.600

Depreciation

20.200

19.800

18.400

Profit Before Tax

120.600

108.200

23.200

Tax

35.900

35.000

7.400

Provisions and Contingencies

0.000

0.000

0.000

Profit After Tax

84.700

73.200

15.800

Extraordinary Items

0.000

0.000

0.000

Prior Period Expenses

0.000

0.000

0.000

Other Adjustments

0.000

0.000

0.000

Net Profit

84.700

73.200

15.800

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Net Profit Margin

(PAT / Sales)

(%)
1.36

(1.66)

(2.20)

 

 
 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
5.42

1.82

0.17

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

4.07

(3.96)

(5.07)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14

(0.13)

(0.14)

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

0.80

1.08

0.85

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.98

0.88

0.94

 

 

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

891.410

891.410

891.410

Reserves & Surplus

29.955

(123.511)

(124.719)

Net worth

921.365

767.899

766.691

 

 

 

 

long-term borrowings

342.452

312.203

243.950

Short term borrowings

438.187

518.117

371.604

Total borrowings

780.639

830.320

615.554

Debt/Equity ratio

0.847

1.081

0.803

 

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

3952.658

4165.885

5305.975

 

 

5.395

27.367

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2011

31.03.2012

31.03.2013

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

3952.658

4165.885

5305.975

Profit

(86.976)

(69.250)

72.593

 

           (2.20%)

(1.66%)

1.37%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check List by Info Agents

Available in Report (Yes / No)

1]

Year of Establishment

Yes

2]

Locality of the firm

Yes

3]

Constitutions of the firm

Yes

4]

Premises details

No

5]

Type of Business

Yes

6]

Line of Business

Yes

7]

Promoter's background

No

8]

No. of employees

Yes

9]

Name of person contacted

Yes

10]

Designation of contact person

Yes

11]

Turnover of firm for last three years

Yes

12]

Profitability for last three years

Yes

13]

Reasons for variation <> 20%

----------------------

14]

Estimation for coming financial year

No

15]

Capital in the business

Yes

16]

Details of sister concerns

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

No

21]

Market information

----------------------

22]

Litigations that the firm / promoter involved in

----------------------

23]

Banking Details

Yes

24]

Banking facility details

Yes

25]

Conduct of the banking account

----------------------

26]

Buyer visit details

----------------------

27]

Financials, if provided

Yes

28]

Incorporation details, if applicable

Yes

29]

Last accounts filed at ROC

Yes

30]

Major Shareholders, if available

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

 

 

OPERATIONS

 

The Company has recorded production of 31814 MT and Sale of 32838 MT during the year as against 29127 MT and Sale of 28977 MT respectively during the previous year, posting a strong growth of 9% and 13% respectively. The gross turnover during the year increased to Rs.5875.400 Million from Rs.4638.800 Million in the previous year, an increase of 27%.

 

 

MANAGEMENT DISCUSSION & ANALYSIS

 

Industry Structure and Development

 

The Demand of Acrylic Fibre during the year was better than the previous year and the company has sold 32838 MT during the year as compared to 28977 MT during the previous year. During the current year it is expected that momentum will continue.

 

 

Opportunities and Threat

 

Principal raw material of the company is A C N which is a by-product of crude oil. The crude oil prices continue to be volatile in the international market resulting direct impact on the A CN prices. The A C N is largely imported as such the upward fluctuation in foreign exchange i.e. USD vs. INR adversely affects the margin of the Company. Import of Acrylic Fibre at a low price from various countries more particularly from Thailand is causing serious injury to domestic Industry.

 

 

Segment-wise / Product-wise performance

 

The Company has only one segment i.e. Acrylic Fibre.

 

 

Risk and Concern

 

The Company uses imported raw materials as such upward movement in USD and Crude oil adversely affect the margin. To derisk the company is increasing its exports. During the Financial Year 2013-14 exports have gone up to Rs.675.500 Million from Rs.335.600 Million in the Financial Year 2012-13.

 

 

ISO CERTIFICATION

 

The Company is an ISO 9001:2000, accredited by Bureau of Indian Standard, Rooid Voor Accreditatie, and Netherland. This certification indicates our commitments in meeting global quality and standards.

 

 

 

INDEX OF CHARGES

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10321167

19/11/2011

349,100,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, 36 JANPATH, NEW DELHI, DELHI - 110001, INDIA

B26815142

2

10309813

19/09/2011

36,100,000.00

STATE BANK OF TRAVANCORE

SBT HOUSE, ARYASAMAJ ROAD KAROL BAGH, NEW DELHI - 110005, INDIA

B22348056

3

10278122

24/03/2011

270,000,000.00

ALLAHABAD BANK

I F BRANCH, 17 PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

B09904244

4

10273997

27/01/2011

7,250,000.00

BANK OF BARODA

16, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

B08711210

5

10254586

04/12/2010

70,000,000.00

BANK OF BARODA

16, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA

B01405836

6

10251030

19/11/2010

132,500,000.00

ALLAHABAD BANK

IF BRANCH, 17 PARLIAMENT STREET, NEW DELHI, DELHI 
- 110001, INDIA

A99342347

7

10233956

12/11/2011 *

81,600,000.00

CANARA BANK

74, JANPATH, NEW DELHI, DELHI - 110001, INDIA

B26376814

8

10235818

09/11/2011 *

188,800,000.00

BANK OF MAHARASHTRA

B-29, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA

B26187211

9

10226727

24/06/2010

261,300,000.00

STATE BANK OF PATIALA

COMMERCIAL BRANCH, 36 JANPATH, NEW DELHI, DELHI - 110001, INDIA

A88537295

10

10219821

22/09/2011 *

262,000,000.00

UCO BANK

MID CORPORATE BRANCH, 5 SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA

B22631188

 

 

UNSECURED LOANS

 

PARTICULAR

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

LONG TERM BORROWINGS

 

 

Inter Corporate Deposits

73.000

73.000

SHORT TERM BORROWINGS

 

 

Deferred Credit

162.150

22.982

Total

235.150

95.982

 

 

 UNAUDITED FINANCIAL RESULTS (REVIEWED) FOR THE QUARTER ENDED 31ST DECEMBER 2014

 

                                                                                      (Rs. In Million)

 

 

Particulars

Quarter Ended

Nine Months Ended

31.12.2014

30.09.2014

31.12.2014

(Reviewed)

(Reviewed)

(Reviewed)

 

 

 

 

Income from Operations

 

 

 

Net Sales / Income from Operations

1368.700

1384.000

4043.400

Other Operating Income

16.900

14.200

45.400

Total Income from Operations (net)

1385.600

1398.200

4088.800

Expenditure

 

 

 

a) Cost of materials consumed

1155.600

1084.700

3179.700

b) Purchase of stock-in-trade

0.700

0.000

0.700

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

(110.600)

(109.300)

(242.600)

d) Employee benefits expense

45.800

44.100

134.100

e) Depreciation and amortisation expense

18.400

19.800

58.400

f) Other expenses

239.900

234.000

665.700

Total Expenses

1349.800

1273.300

3796.000

Profit from Operations before Other Income and Finance Costs

35.800

124.900

292.800

Other Income

3.800

4.100

13.400

Profit before finance costs

39.600

129.000

306.200

Finance Costs

16.400

20.800

54.200

Profit Before  Exceptional Items

23.200

108.200

252.000

Exceptional Items

0.000

0.000

0.000

Profit Before Tax

23.200

108.200

252.000

Tax Expenses (Includes Deferred Tax)

7.400

35.000

78.300

Net Profit/ (Loss) from Ordinary activities before tax

15.800

73.200

173.700

Extraordinary Income (Net of MAT Credit)

0.000

0.000

0.000

Net Profit/ (Loss) after taxes

15.800

73.200

173.700

Paid up Equity Share Capital [Face Value - Rs.10 per share]

891.400

891.400

891.400

Reserves excluding Revaluation Reserves

0.000

0.000

0.000

Earnings Per Share (Rs.) – Basic and Diluted (Not annualized)

 

 

 

Before Extraordinary Items

0.18

0.82

1.95

After Extraordinary Items

0.18

0.82

1.95

 

 

 

 

PARTICULARS OF SHAREHOLDING

 

 

 

Public Shareholding

 

 

 

- Number of Shares

30417676

30417676

30417676

- Percentage of Shareholding

34.13

34.13

34.13

Promoters and Promoter Group Shareholding

 

 

 

a) Pledged/Encumbered

 

 

 

- Number of Shares

15125000

15125000

15125000

- Percentage of Shares (as a % of the Total Shareholding of promoter and promoter group)

25.76

25.76

25.75

- Percentage of Shares (as a % of the Total Share Capital of the Company)

16.97

16.97

16.97

b) Non Encumbered

 

 

 

- Number of Shares

43590445

43590445

43590445

- Percentage of Shares (as a % of the Total Shareholding of Promoter and Promoter Group)

74.24

74.24

74.24

- Percentage of Shares (as a % of the Total Share Capital of the Company)

48.90

48.90

48.90

 

PARTICULARS

3 Months ended (31.12.2014)

B   INVESTORS COMPLAINTS

 

Pending at the beginning of the quarter

Nil

Received during the quarter

6

Disposed during the quarter

6

Remaining unresolved at the end of the quarter

Nil

 

Note:

 

Effective April 01, 2014 the Company has charged depredation as per Schedule II of the Companies Act 2013 on fixed assets except on building, plant and machinery and power plant where company continues to charge depredation as per old rate in view of technical evaluation obtained by the Company. Due to this. depreciation charged for the quarter ended December 31, 2014 is higher by Rs.4.711 Million. Further based on transitional provisions provided in note no. 7(b) of Schedule II of the Companies Act 2013, an amount of Rs. 3.401 Million (net of deferred tax) has been debited to opening balance of Profit & Loss a/c.


Figures have been regrouped wherever considered necessary.


These results have been taken on record by the Board of Directors at the meeting held on February 06, 2015.

 

 

FIXED ASSETS

 

  • Leasehold Land
  • Freehold Land
  • Office Premises
  • Building
  • Plant and Machinery
  • Electrical Installation
  • Office Equipments
  • Furniture and Fixtures
  • Vehicles

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.62.33

UK Pound

1

Rs.92.83

Euro

1

Rs.68.08

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TRU

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

2

--CREDIT LINES

1~10

3

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

28

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.