MIRA INFORM REPORT
|
Report No. : |
318314 |
|
Report Date : |
20.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
P G FOILS LIMITED |
|
|
|
|
|
|
Registered
Office : |
6, Neptune Tower, Ashram Road, Ahmedabad - 380009, Gujarat |
|
|
Tel. No.: |
91-79-26587606 |
|
|
|
|
|
|
Country : |
India |
|
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
|
|
Date of
Incorporation : |
07.11.1979 |
|
|
|
|
|
|
Com. Reg. No.: |
04-008050 |
|
|
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 81.161 Million |
|
|
|
|
|
|
CIN No.: [Company Identification
No.] |
L27203GJ1979PLC008050 |
|
|
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
|
|
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
: |
Manufacturer and Seller of Aluminium Foil in the various form. |
|
|
|
|
|
|
No. of Employees
: |
Not Divulged |
|
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 |
|
Maximum Credit Limit : |
USD 2600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects company sound financial risk profile marked by
healthy networth position and fair profitability of the company. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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 – 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 |
CARE |
|
Rating |
Long term Bank facilities = A- |
|
Rating Explanation |
Adequate degree of safety and carry low
credit risk. |
|
Date |
April 08, 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities = A1 |
|
Rating Explanation |
Very strong degree of safety and carry
lowest credit risk. |
|
Date |
April 08, 2015 |
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
[CONTACT NO.: 91-79-26587606]
LOCATIONS
|
Registered Office : |
6, Neptune Tower, Ashram Road, Ahmedabad - 380009, Gujarat, India |
|
Tel. No.: |
91-79-26587606/ 32986262 |
|
Fax No.: |
91-79-26584187 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office/ Factory : |
P. O. Pipalia Kalan, District Pali – 306307, Rajasthan, India |
|
Tel. No.: |
91-2937-287151-56 |
|
Fax No.: |
91-2937-287150 |
|
|
|
|
Sales Offices : |
Located at: · Mumbai · Chennai · Ahmedabad · Delhi · Bangalore · Hyderabad · Jaipur · Kolkata ·
Indore |
|
|
|
|
Branch Offices : |
Located at: · Hyderabad · Kolkata · Jaipur · Ahmedabad · Chennai · Mumbai · Bangalore ·
Delhi |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr.
Pankaj P Shah |
|
Designation : |
Managing
Director |
|
Date of Birth/Age : |
15.07.1956 |
|
Experience : |
35
Years of Industrial experience |
|
Date of Appointment : |
11.07.1979 |
|
|
|
|
Name : |
Mr.
Abhay P Shah |
|
Designation : |
Whole
Time Director |
|
Date of Birth/Age : |
17.02.1967 |
|
Experience : |
32
Year Industrial Experience |
|
Date of Appointment : |
28.08.1982 |
|
|
|
|
Name : |
Mr.
Sahil P Shah |
|
Designation : |
Director |
|
Date of Birth/Age : |
18.03.1985 |
|
Experience : |
Young
and energetic entrepreneur having 3 years’ experience |
|
Date of Appointment : |
11.08.2007 |
|
Other Directorship : |
Prem
Foils Limited |
|
|
|
|
Name : |
Mr.
Vimal Dhadda |
|
Designation : |
Director |
|
Date of Birth/Age : |
04.04.1954 |
|
Experience : |
38
Years Vast Business Experience |
|
Date of Appointment : |
16.05.1995 |
|
|
|
|
Name : |
Mr.
Udhan Kumar Chordia |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.05.1971 |
|
Experience : |
22
Years Vast Business Experience |
|
Date of Appointment : |
21.03.2009 |
|
|
|
|
Name : |
Mr.
Arun Mohan Lal Joshi |
|
Designation : |
Additional
Director |
|
Date of Birth/Age : |
13.02.1965 |
|
Experience : |
28
Years Vast Business Experience |
|
Date of Appointment : |
13.08.2014 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of Shareholder |
Total No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
856739 |
10.56 |
|
|
3525780 |
43.47 |
|
|
4382519 |
54.04 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
4382519 |
54.04 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
1230410 |
15.17 |
|
|
|
|
|
|
1429206 |
17.62 |
|
|
519788 |
6.41 |
|
|
548077 |
6.76 |
|
|
545302 |
6.72 |
|
|
2775 |
0.03 |
|
|
3727481 |
45.96 |
|
Total Public shareholding (B) |
3727481 |
45.96 |
|
Total (A)+(B) |
8110000 |
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) |
8110000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Aluminium Foil in the various form. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
(Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· IDBI Bank Limited ·
State Bank of Bikaner and Jaipur |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Statutory Auditors : |
|
|
Name : |
H M Singhvi and Company Chartered Accountants |
|
Address : |
Pipalia Kalan, District Pali, Rajasthan, India |
|
|
|
|
Cost Auditors : |
|
|
Name : |
Rajesh Goyal and Company Cost Accountants |
|
Address : |
Jaipur, Rajasthan, India |
|
|
|
|
Related Parties
with whom transactions have been taken place : |
·
Prem Cables Private Limited ·
Miracle Carriers and Trading Company ·
Prem Nagar Industrial Estates Private
Limited ·
Pipalia Cables and Wires Private Limited ·
Miracle Foils Private Limited ·
Foils India Laminates Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8121600 |
Equity Shares |
Rs. 10/- each |
Rs. 81.216 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8110000 |
Equity Shares |
Rs. 10/- each |
Rs. 81.100 Million |
|
|
Add : Share forfeited (amount originally paid up) |
|
Rs. 0.061 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 81.161
Million |
1)
The
Company has only one class of equity shares having a par value of Rs. 10 per
share. Each Shareholder is eligible for one vote per share.
2)
In
the event of liquidation, the equity shareholders are eligible to receive the
remaining assets of the Company, after distribution of all preferential
amounts, in proportion of their shareholding.
Note 1
|
Particulars |
Opening Balance |
Closing Balance |
|
Equity
shares with voting rights |
|
|
|
Year
ended 31 March, 2014 |
|
|
|
-
Number of shares |
8,110,000 |
8,110,000 |
|
-
Amount (10/-`) |
81.100 |
81.100 |
Note 2
Details of shares held by each shareholder
holding more than 5% shares:
|
Class of shares / Name of
shareholders |
As at 31 March, 2014 |
|
|
|
Number of shares held |
%
holding in that class of shares |
|
Equity
shares with voting rights |
|
|
|
1
Prem Krishi Private Limited |
1,049,800 |
12.94% |
|
2
Tirumula Irons Private Limited |
843,030 |
10.39% |
|
3
Prem Cables Private Limited |
466,598 |
5.75% |
|
|
|
|
|
Total |
2,359,428 |
29.08% |
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 |
81.161 |
85.861 |
85.861 |
|
(b) Reserves & Surplus |
845.229 |
786.054 |
747.278 |
|
(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) |
926.390 |
871.915 |
833.139 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
107.500 |
22.500 |
30.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
7.903 |
5.429 |
|
(c)
Other long term liabilities |
24.356 |
25.430 |
19.718 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
131.856 |
55.833 |
55.147 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
454.719 |
487.675 |
528.151 |
|
(b)
Trade payables |
63.267 |
149.581 |
94.137 |
|
(c)
Other current liabilities |
166.730 |
37.005 |
78.315 |
|
(d)
Short-term provisions |
16.873 |
11.273 |
3.418 |
|
Total
Current Liabilities (4) |
701.589 |
685.534 |
704.021 |
|
|
|
|
|
|
TOTAL |
1759.835 |
1613.282 |
1592.307 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
187.213 |
189.398 |
221.896 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
107.361 |
5.853 |
5.054 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
110.000 |
110.000 |
|
(c) Deferred tax assets
(net) |
1.262 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
16.662 |
109.772 |
63.250 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
312.498 |
415.023 |
400.200 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
110.225 |
61.725 |
85.725 |
|
(b)
Inventories |
169.435 |
263.090 |
350.127 |
|
(c)
Trade receivables |
395.289 |
383.280 |
471.116 |
|
(d)
Cash and cash equivalents |
716.625 |
424.004 |
202.646 |
|
(e)
Short-term loans and advances |
42.650 |
52.408 |
79.973 |
|
(f)
Other current assets |
13.113 |
13.752 |
2.520 |
|
Total
Current Assets |
1447.337 |
1198.259 |
1192.107 |
|
|
|
|
|
|
TOTAL |
1759.835 |
1613.282 |
1592.307 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1888.273 |
1897.094 |
1923.359 |
|
|
|
Other Income |
86.232 |
68.110 |
95.120 |
|
|
|
TOTAL (A) |
1974.505 |
1965.204 |
2018.479 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1257.834 |
1192.825 |
1217.484 |
|
|
|
Purchases of Stock-in-Trade |
364.894 |
501.484 |
503.687 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
53.308 |
(2.758) |
(51.327) |
|
|
|
Employees benefits expense |
53.763 |
58.555 |
75.357 |
|
|
|
Other expenses |
152.632 |
134.450 |
108.882 |
|
|
|
Extraordinary Items |
(83.267) |
(59.040) |
(26.300) |
|
|
|
TOTAL (B) |
1799.164 |
1825.516 |
1827.783 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
175.341 |
139.688 |
190.696 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
75.100 |
48.513 |
71.483 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
100.241 |
91.175 |
119.213 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
29.071 |
31.340 |
35.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
71.170 |
59.835 |
83.261 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.509 |
20.847 |
22.890 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
54.661 |
38.988 |
60.371 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Basis] |
169.815 |
NA |
57.119 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.74 |
4.81 |
7.44 |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
615.900 |
679.300 |
658.000 |
|
Total Expenditure |
585.600 |
666.000 |
606.900 |
|
PBIDT (Excl OI) |
30.200 |
13.300 |
51.100 |
|
Other Income |
21..500 |
20.800 |
13.600 |
|
Operating Profit |
51.800 |
34.100 |
64.700 |
|
Interest |
9.600 |
7.100 |
31.800 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
42.100 |
27.000 |
32.900 |
|
Depreciation |
7.800 |
7.300 |
7.000 |
|
Profit Before Tax |
34.300 |
19.700 |
25.900 |
|
Tax |
10.000 |
7.500 |
7.500 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
24.300 |
12.200 |
18.400 |
|
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 |
24.300 |
12.200 |
18.400 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.89 |
2.06 |
3.14 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.29 |
7.36 |
9.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.31 |
4.00 |
5.64 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.07 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.61 |
0.59 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06 |
1.75 |
1.69 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
85.861 |
85.861 |
81.161 |
|
Reserves & Surplus |
747.278 |
786.054 |
845.229 |
|
Net
worth |
833.139 |
871.915 |
926.390 |
|
|
|
|
|
|
Long-term borrowings |
30.000 |
22.500 |
107.500 |
|
Short term borrowings |
528.151 |
487.675 |
454.719 |
|
Total
borrowings |
558.151 |
510.175 |
562.219 |
|
Debt/Equity
ratio |
0.670 |
0.585 |
0.607 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1923.359 |
1897.094 |
1888.273 |
|
|
|
(1.366) |
(0.465) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1923.359 |
1897.094 |
1888.273 |
|
Profit |
60.371 |
38.988 |
54.661 |
|
|
3.14% |
2.06% |
2.89% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
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
|
HIGH COURT OF
GUJARAT TAX APPEAL No. 1204 of 2007 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Status:
PENDING ( Converted from : ST/3140/2007 ) CCIN No: 001092200701204 Next Listing Date: 20/04/2015
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
S.NO. |
Name of the Petitioner |
Advocate On
Record |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1 |
THE COMMISSIONER OF INCOME TAX-III |
MR NITIN K MEHTA for: Appellant(s) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
S.NO. |
Name of the
Respondant |
Advocate On
Record |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1 |
P G FOILS LTD |
MR SN DIVATIA for :Opponent(s) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Office Details
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Court
Proceedings
Available Orders
Certified Copy
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10423485 |
12/04/2013 |
300,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74325242 |
|
2 |
10249620 |
10/11/2010 * |
60,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B00622092 |
|
3 |
80001481 |
04/12/2014 * |
1,000,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C38573192 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loan From others |
298.000 |
0.000 |
|
|
|
|
|
Total |
298.000 |
0.000 |
OPERATIONS (GENERAL REVIEW)
During
the year the company achieved a Gross turnover of Rs. 2050.889 Million as against
Rs. 2058.320 Million in the previous year.
Profit
before tax and extra ordinary income has decreased to Loss of Rs. 12.096
Million from profit of Rs. 0.794 Million of previous year mainly pressure on
margin due to price war on excess supply market on account of capacity addition
by existing and new units in industry and cheaper import.
Exports
have increased to Rs.169.815 Million from Rs. 75.156 Million.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY SCENARIO
As
aware the Indian economy has been passing through a period of sustained decline
in the recent past and this continued during the year as well.
GDP
growth rate for the year is estimated to have come down below 5%. Manufacturing
sector has been affected even more and has registered only a negligible growth.
Progress on infrastructure development has also been for below expectations. As
a results demand for most product segments specifically Pharma and Drugs has
been virtually stagnant. On the other hand cost of most inputs has continued to
rise putting pressure on margins.
However,
they still believe in the inherent strength of the Indian economy and are
convinced that they shall soon return to a period of good growth and achieve
their potential.
They
have utilized this period of slow down for improve their efficiencies and cost
competitiveness which has enable them to achieve a good growth and improved
bottom line in future.
FUTURE OUTLOOK
Due
to improvement in industrial environment after new government in country they
hopeful for good growth in domestic and export of drugs and pharma resulting
capacity increase in pharmaceutical industries and foil consumption.
Further
company expect improvement in realization of foil due to close of few foil manufacturing
units and costly import due to dollor rate increase.
OPERATIONAL PERFORMANCE
Company
achieved a Gross turnover of Rs. 2050.900 Million as against Rs. 2058.300
Million in the previous year and production for the year 5012.558 MT as against
last year 4875.093 MT.
FINANCIAL PERFORMANCE
Gross
turnover for the year is Rs.2050.900 Million against Rs. 2058.300 Million in
last year
.
Profit
for the year is Rs. 71.200 Million compared to profit of Rs. 59.800 Million in
last year higher mainly due to insurance maturity income and loss mainly due to
sales rate matching with new entrants in domestic market.
Company
contributed a total Rs. 162.600 Million to the National Exchequer as Excise
Duty.
OPPORTUNITIES AND OUTLOOK
Due
to closer of some units of foil manufacturing in the country and slow down of
import activities due to higher dollor rate, company has opportunity to
increase the selling rates and production to improve profit margin.
Company
expect improvement in demand of indigenous foil due to capacity increase by
pharmaceuticals companies in last one year and years to come.
STATEMENT OF UNAUDITED
RESULTS FOR THE QUARTER ENDED DECEMBER 2014
(RS.
IN MILLION)
|
PARTICULARS |
Quarter Ended |
Period Ended |
||
|
|
31.12.2014 (Unaudited) |
30.09.2014 (Unaudited) |
31.12.2014 (Unaudited) |
|
|
Income from Operations |
|
|
|
|
|
Net Sales/Income from Operations |
591.854 |
623.448 |
1798.967 |
|
|
Other Operating Income |
66.183 |
55.829 |
154.213 |
|
|
Total Income from
operations (net) |
658.037 |
679.277 |
1953.180 |
|
|
|
|
|
|
|
|
Expenses |
|
|
|
|
|
(a) Cost of Materials consumed |
508.857 |
476.328 |
1385.125 |
|
|
(b) Purchase of stock in trade |
39.548 |
136.029 |
320.800 |
|
|
(c) Changes in inventories of finished goods, work in
progress and stock in trade |
12.322 |
(0.032) |
3.623 |
|
|
(d) Employee benefit expenses |
15.421 |
17.223 |
47.229 |
|
|
(e) Depreciation and amortization expenses |
6.991 |
7.320 |
22.153 |
|
|
(f) Other Expenses |
|
|
|
|
|
Power and Fuel |
15.996 |
13.509 |
43.482 |
|
|
Other Expenditure |
14.771 |
22.932 |
58.263 |
|
|
Total Expenses |
613.906 |
673.309 |
1880.675 |
|
|
Profit from Operations
before Other Income, Finance costs and Exceptional item |
44.131 |
5.968 |
72.505 |
|
|
Other Income and Interest receipt |
13.614 |
20.815 |
55.949 |
|
|
Profit/ Loss from
Ordinary Activities before Finance costs and Exceptional item |
57.745 |
26.783 |
128.454 |
|
|
Finance costs |
31.842 |
7.081 |
48.565 |
|
|
Profit/ Loss from
Ordinary Activities after Finance costs but Exceptional item |
25.903 |
19.702 |
79.889 |
|
|
Exceptional
items |
-- |
-- |
-- |
|
|
Profit/ Loss from Ordinary Activities
before tax |
25.903 |
19.702 |
79.889 |
|
|
Tax Expenses |
7.500 |
7.500 |
25.000 |
|
|
Net Profit/ Loss from Ordinary Activities
after tax |
18.403 |
12.202 |
54.889 |
|
|
Extraordinary
Items |
-- |
-- |
-- |
|
|
Net Profit for the period |
18.403 |
12.202 |
54.889 |
|
|
Paid- up
Equity Share Capital (Face value of
the share – Rs. 10/-) |
81.100 |
81.100 |
81.100 |
|
|
Reserves
excluding revaluation reserves as per balance sheet of Previous Accounting
Year |
|
|
|
|
|
Earnings per share (before extraordinary
items) (of Rs. 10/- each) (not annualized) |
|
|
|
|
|
Basic and Diluted |
2.27 |
1.51 |
6.77 |
|
|
Earnings per share (after extraordinary
items) (of Rs. 10/- each) (not annualized)Basic |
|
|
|
|
|
Basic and
Diluted |
2.27 |
1.51 |
6.77 |
|
|
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
|
1. Public shareholding |
|
|
|
|
|
Number of
Shares |
3727481 |
3727481 |
3727481 |
|
|
Percentage of Shareholding |
45.96 |
45.96 |
45.96 |
|
|
2. Promoters and promoter group
shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
|
|
Non - encumbered |
|
|
|
|
|
- Number of
Shares |
4382519 |
4382519 |
4382519 |
|
|
- Percentage of Shares (as a % of the total shareholding of
promoter and promoter group) |
100 |
100 |
100 |
|
|
- Percentage of Shares (as a % of the total share capital of the
company) |
54.04 |
54.04 |
54.04 |
|
|
|
Particulars |
Quarter
Ended 31.12.2014 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending at the beginning of the quarter |
0 |
|
|
Received during the quarter |
0 |
|
|
Disposed of during the quarter |
0 |
|
|
Remaining unresolved at the end of the quarter |
0 |
NOTES:
1)
The above results were reviewed
and recommended by Audit Committee for approval by the Board at its meeting held
on 09.02.2015 and were approved and taken on record at the meeting of the Board
of Directors of the Company held on that date.
2)
The Company has only one business
segment.
3)
Previous year figures
regrouped/rearranged where necessary.
4)
Company is engaged in
manufacturing of Aluminum Foils. Power Generated by Wind Mills are mainly for
Captive use.
5)
Extraordinary items pertain to
income to partial withdrawal grom policies taken under employer employee plan.
CONTINGENT
LIABILITIES (AS ON 31.03.2014):
a) Guarantees
given by bank in favour of buyers/suppliers, and Central Excise for Rs. 50.139
Million (Previous Year Rs. 59.824 Million).
b) Letter of
Credit of Rs. 164.950 Million (Previous Year Rs.51.981 Million) opened in
favour of Raw Material Suppliers.
c) Estimated
amount of contract remaining to be executed on capital account and not provided
for Rs. 93.598 Million (Previous year Rs. 110.330 Million) against which
advances given Rs. 82.676 Million (previous year Rs. 92.216 Million)
d) Personal
Guarantee by the Managing Director and Whole Time Director have been given to
IDBI bank Limited against working Capital facilities sanctioned to company.
e) Uncompleted/reopened
assessments of sales tax
f) Suit
filed by NECLO for Sum of Rs. 0.227 Million against which a sum of Rs.0.025
Million has been deposited in the city Civil Court Ahmedabad.
* Matter pending since more than 14 years and company does not expect
any liability.
FIXED ASSETS:
·
Agriculture Land
·
Building
·
Plant and Machinery
· Furniture and Fixture
·
Vehicles
·
Office and Computer 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. 62.35 |
|
|
1 |
Rs. 93.10 |
|
Euro |
1 |
Rs. 67.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--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.