MIRA INFORM REPORT
|
Report No. : |
317154 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
SIMMONDS
MARSHALL LIMITED |
|
|
|
|
Registered
Office : |
Mumbai – Pune Road, Kasarwadi, Pune – 411034, Maharashtra |
|
Tel. No.: |
91-20-3078-2152 / 2160 / 2153 / 2170 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
16.04.1960 |
|
|
|
|
Com. Reg. No.: |
11-011645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 22.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29299PN1960PLC011645 |
|
|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AABCS4968B |
|
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|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
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Line of Business
: |
The company is engaged in manufacturing and selling of Industrial Fasteners. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company with long operational history. It has a satisfactory track record. The company has reported decent profitability during FY 2014. Financial position of The Company seems to be sound. Trade relations are fair. Business is active. Payments are reported to
be 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 – 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 = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk |
|
Date |
June, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk |
|
Date |
June, 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.
LOCATIONS
|
Registered Office / Factory : |
Mumbai – Pune Road, Kasarwadi, Pune – 411034, Maharashtra, India |
|
Tel. No.: |
91-20-3078-2152 / 2160 / 2153 / 2170 |
|
Fax No.: |
91-20- 3078-2195 |
|
E-Mail : |
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|
Website : |
|
|
|
|
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Administrative Office / Sales Office
: |
Apeejay Chambers 5, Wallace Street, Fort, Mumbai – 411034, Maharashtra, India |
|
Tel. No.: |
91-22-6633-7425 / 6 / 7 |
|
Fax No.: |
91-22-6633 7433 /6633 7434 |
DIRECTORS
As on : 31.03.2014
|
Name : |
Mr. Shiamak Jeejeebhoy Marshall |
|
Designation : |
Chairman |
|
Address : |
71, EL – CID 13, B.G. Kher Marg, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
15.10.1937 |
|
Date of Appointment : |
16.04.1680 |
|
PAN No.: |
AACPM5502F |
|
DIN No.: |
00085682 |
|
|
|
|
Name : |
Mr. Navroze Shiamak Marshall |
|
Designation : |
Managing Director |
|
Address : |
71, EL – CID 13, B.G. Kher Marg, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1976 |
|
Date of Appointment : |
31.07.2013 |
|
PAN No.: |
AACPM5508R |
|
DIN No.: |
00085754 |
|
|
|
|
Name : |
Mr. Imran Mohomedali Panju |
|
Designation : |
Director |
|
Address : |
4, Symphony, 80 Napean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1960 |
|
Date of Appointment : |
01.01.1994 |
|
DIN No.: |
00121748 |
|
|
|
|
Name : |
Mr. Chintaman Bhargao Bambawale |
|
Designation : |
Director |
|
Address : |
G-84, Sujan Road, Humayun Road, New Delhi – 110003, India |
|
Date of Birth/Age : |
24.08.1934 |
|
Date of Appointment : |
01.01.1995 |
|
DIN No.: |
00121586 |
|
|
|
|
Name : |
Mr. Farokh Kekhushroo Banatwalla |
|
Designation : |
Director |
|
Address : |
603, Neel Sagar, TPS III, 28th Road, Bandra (West), Mumbai
– 400050, Maharashtra, India |
|
Date of Birth/Age : |
65 (19.04.1949) |
|
Qualification : |
B.com., LLB, CAIIB (I) |
|
Date of Appointment : |
20.07.2009 |
|
DIN No.: |
02670802 |
KEY EXECUTIVES
|
Name : |
Mr. N.D. Bharucha |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
6064758 |
54.15 |
|
|
200800 |
1.79 |
|
|
6265558 |
55.94 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6265558 |
55.94 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
500 |
0.00 |
|
|
500 |
0.00 |
|
|
|
|
|
|
1745852 |
15.59 |
|
|
|
|
|
|
2868088 |
25.61 |
|
|
263000 |
2.35 |
|
|
57002 |
0.51 |
|
|
19381 |
0.17 |
|
|
37621 |
0.34 |
|
|
4933942 |
44.05 |
|
Total Public shareholding (B) |
4934442 |
44.06 |
|
|
|
|
|
Total (A)+(B) |
11200000 |
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) |
11200000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The company is engaged in manufacturing and selling of Industrial Fasteners. |
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Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Million)
|
|
Auditors : |
|
|
Name : |
SHR and Company Chartered Accountants |
|
Address : |
212-A – 203, Rewa Chambers, Sir Vithaldas Thackersey Marg, Mumbai –
400020, India |
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PAN No.: |
ABAFS8477N |
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Enterprises in which
Key Management Personnel have significant influence : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiaries : |
STUD INDIA - Partnership Firm |
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Associate Company: |
Formex Private Limited |
CAPITAL STRUCTURE
As on : 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.2/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11200000 |
Equity Shares |
Rs.2/- each |
Rs.22.400
Million |
|
|
|
|
|
Reconciliation of the
number of shares and amount outstanding at the beginning and at the end of the
reporting period:
|
|
As at March 31, 2014 |
|
|
|
No. of Shares |
Rs. In Million |
|
Equity Shares |
|
|
|
Shares outstanding at the Beginning of the year |
11200000 |
22.400 |
|
Changes during the year |
0.000 |
0.000 |
|
Shares outstanding at the end of the year |
11200000 |
22.400 |
Terms / Rights
attached to shares:
The Company has only one class of equity shares having a par value of 2 per share. Each holder of equity share is entitled to one vote per share. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting except in case of interim dividend. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholder.
Details of shares
held by each shareholder holding more than 5% shares:
|
Class of shares / Name of shareholder |
As at March 31, 2014 |
|
|
|
No. of Shares |
%Holding |
|
Equity Shares |
|
|
|
Navroze S Marshall |
1463298 |
13.07 |
|
Shiamak J Marshall |
1512965 |
13.51 |
|
Maki S Marshall |
1630435 |
14.56 |
|
Kamal I Panju |
717155 |
6.40 |
|
Kayan J Pandole |
710655 |
6.35 |
|
Clover Technologies Private Limited |
1694462 |
15.13 |
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 |
22.400 |
22.400 |
22.400 |
|
(b) Reserves & Surplus |
346.547 |
309.232 |
281.224 |
|
(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) |
368.947 |
331.632 |
303.624 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
142.567 |
137.890 |
133.909 |
|
(b) Deferred tax liabilities (Net) |
24.885 |
20.954 |
16.286 |
|
(c) Other long term
liabilities |
0.000 |
0.513 |
0.343 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
167.452 |
159.357 |
150.538 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
146.197 |
164.010 |
156.934 |
|
(b) Trade
payables |
95.136 |
79.314 |
91.621 |
|
(c) Other
current liabilities |
37.483 |
44.344 |
44.097 |
|
(d) Short-term
provisions |
13.771 |
8.596 |
9.627 |
|
Total Current
Liabilities (4) |
292.587 |
296.264 |
302.279 |
|
|
|
|
|
|
TOTAL |
828.986 |
787.253 |
756.441 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
193.000 |
193.341 |
192.977 |
|
(ii)
Intangible Assets |
20.716 |
23.389 |
26.730 |
|
(iii)
Capital work-in-progress |
17.948 |
1.668 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.668 |
|
(b) Non-current Investments |
33.084 |
29.986 |
17.298 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
9.275 |
9.070 |
6.019 |
|
(e) Other
Non-current assets |
2.936 |
2.469 |
2.312 |
|
Total Non-Current Assets |
276.959 |
259.923 |
247.004 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
222.284 |
219.003 |
209.301 |
|
(c) Trade
receivables |
261.514 |
232.748 |
227.098 |
|
(d) Cash
and cash equivalents |
51.601 |
57.500 |
55.031 |
|
(e)
Short-term loans and advances |
16.268 |
16.757 |
17.478 |
|
(f) Other
current assets |
0.360 |
1.322 |
0.529 |
|
Total
Current Assets |
552.027 |
527.330 |
509.437 |
|
|
|
|
|
|
TOTAL |
828.986 |
787.253 |
756.441 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1031.410 |
903.436 |
910.929 |
|
|
Other Income |
6.156 |
3.417 |
2.086 |
|
|
TOTAL
(A) |
1037.566 |
906.853 |
913.015 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
424.248 |
378.549 |
392.703 |
|
|
Purchases of Stock-in-Trade |
7.409 |
3.880 |
5.163 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(8.980) |
(0.064) |
(5.322) |
|
|
Employees benefits expense |
156.678 |
139.158 |
123.35 |
|
|
Other expenses |
334.963 |
275.208 |
228.009 |
|
|
TOTAL
(B) |
914.318 |
796.731 |
743.903 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
123.248 |
110.122 |
169.112 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
33.110 |
39.512 |
34.111 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
90.138 |
70.610 |
135.001 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
20.645 |
18.821 |
15.689 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
69.493 |
51.789 |
119.312 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
25.631 |
17.231 |
41.014 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
43.862 |
34.558 |
78.298 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
73.927 |
56.873 |
87.055 |
|
|
TOTAL
EARNINGS |
73.927 |
56.873 |
87.055 |
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
187.561 |
199.404 |
NA |
|
|
Stores parts |
0.750 |
1.011 |
NA |
|
|
Capital Goods |
227.353 |
7.302 |
NA |
|
|
Tool |
43.013 |
33.225 |
NA |
|
|
TOTAL IMPORTS |
458.677 |
240.942 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
3.92 |
3.09 |
6.99 |
QUARTERLY RESULTS
(Rs In Million)
|
Particulars (Rs.
cr.) |
June 2014 |
September 2014 |
December 2014 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1st Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
342.700 |
336.300 |
317.000 |
|
Total Expenditure |
292.800 |
284.000 |
277.300 |
|
PBIDT (Excl OI) |
49.900 |
52.300 |
39.700 |
|
Other Income |
01.000 |
4.900 |
1.400 |
|
Operating Profit |
50.900 |
57.100 |
41.100 |
|
Interest |
10.500 |
10.700 |
8.100 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
40.400 |
46.400 |
33.000 |
|
Depreciation |
10.500 |
9.200 |
8.200 |
|
Profit Before Tax |
29.900 |
37.200 |
24.900 |
|
Tax |
10.100 |
6.500 |
15.600 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
19.800 |
30.800 |
9.200 |
|
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 |
19.800 |
30.800 |
9.200 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
4.25 |
3.83 |
8.60 |
|
|
|
|
|
|
|
Operating Profit Margin
(PBITD/Sales) |
(%) |
11.95 |
12.19 |
18.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.93 |
6.85 |
16.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.16 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.78 |
0.91 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current
Liability) |
|
1.89 |
1.78 |
1.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
22.400 |
22.400 |
22.400 |
|
Reserves & Surplus |
281.224 |
309.232 |
346.547 |
|
Net worth |
303.624 |
331.632 |
368.947 |
|
|
|
|
|
|
long-term borrowings |
133.909 |
137.890 |
142.567 |
|
Short term borrowings |
156.934 |
164.010 |
146.197 |
|
Total borrowings |
290.843 |
301.900 |
288.764 |
|
Debt/Equity ratio |
0.958 |
0.910 |
0.783 |
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 |
910.929 |
903.436 |
1031.410 |
|
|
|
(0.823) |
14.165 |
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 |
910.929 |
903.436 |
1031.410 |
|
Profit |
78.298 |
34.558 |
43.862 |
|
|
8.60% |
3.83% |
4.25% |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
OPERATIONS
The turnover during the year increased to Rs.1031.410 Million against Rs.903.436 Million in the previous year; registering an increase of 14.16% and the portability has risen from Rs.51.789 Million to Rs.69.493 Million registering an increase of 34.18%.
During the year, the cost of input continued to increase and the weakness of rupee against USD continued to put inflationary pressures. Inspite of this, the Company has been able to improve its performance.
MANAGEMENT DISCUSSION
AND ANALYSIS
BUSINESS OVERVIEW:
The main business of the Company is manufacturing and sale of Industrial Fasteners used in Auto Industry.
OPPORTUNITIES,
THREATS, OUTLOOK, RISKS AND CONCERNS:
Inspite of the dramatic change in the economic environment and the slow down across the board for all sectors of the economy, the Company’s turnover increased by 14.16%. The general outlook with respect to this Industry in India is of caution under immense competitive pressure. However the intrinsic strength of the company has helped us to effectively overcome such pressure and the sales therefore should register a modest but definite growth.
EXPORTS:
The Company is fast consolidating its resources to build a market presence in the international arena. The results are reflected with an impressive increase of 30% this year and are also continuing in the current year.
INTERNAL CONTROL
SYSTEMS AND THEIR ADEQUACY:
Internal Control Systems are designed to ensure the reliability of financial and other record and accountability of executive action to the management’s authorization. The internal control systems are reviewed by the top management and by the audit committee of the board and proper follow up action is ensured wherever required. Regular audit committee meetings are held where statutory auditors as well as internal auditors participate and internal audit reports are discussed and reviewed.
The internal audit of the transactions of the Company is carried out and the company is planning to enlarge the scope of work of the internal auditors.
FINANCIAL AND
OPERATIONAL PERFORMANCE:
During the year, the Company has achieved the sales and other income of Rs.1037.566 Million as against the sales and other income of Rs.906.853 Million in the previous year. The Company has earned net profit before tax of Rs.69.493 Million during the year as against the net profit before tax of Rs.51.789 Million in the previous year.
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Loans and advances from related parties |
70.600 |
73.383 |
|
|
|
|
|
Total |
70.600 |
73.383 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10546953 |
02/02/2015 |
2,045,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V. N. |
C42396549 |
|
2 |
10532174 |
10/11/2014 |
4,750,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V. N. |
C34197582 |
|
3 |
10527715 |
28/10/2014 |
22,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V. N. |
C31103237 |
|
4 |
10494745 |
24/03/2014 |
14,000,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V. N. |
C04551404 |
|
5 |
10442279 |
02/08/2013 |
6,950,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V. N. |
B81805897 |
|
6 |
10313964 |
27/03/2015 * |
394,200,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ |
C49408917 |
|
7 |
10313797 |
14/10/2011 |
220,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJ |
B23774672 |
|
8 |
10286281 |
02/05/2011 |
2,500,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
FORT BRANCH,, YUSUF BUILDING, GROUND FLOOR, V. N. |
B12739272 |
|
9 |
10256554 |
02/12/2010 |
7,500,000.00 |
THE ZOROASTRIAN CO-OPERATIVE BANK LIMITED |
MUMBAI MAIN BRANCH,, YUSUF BUILDING, GROUND FLOOR |
B01671478 |
* Date of charge modification
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER, 2014
Standalone statement of profit and loss
(Rs. In Million)
|
Sr. No |
Particulars |
Standalone |
||
|
Quarter Ended |
Nine Month Ended |
|||
|
33.12.2014 |
30.09.2014 |
31.12.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
1 |
Income From
Operations |
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
342.692 |
336.285 |
995.964 |
|
|
b. Other Operating Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income from
Operations (Net) |
342.692 |
336.285 |
995.964 |
|
2 |
Expenditure |
|
|
|
|
|
a. Cost of material Consumed |
129.071 |
133.174 |
394.099 |
|
|
b. Purchase of Stock-in trade |
0.000 |
1.380 |
3.057 |
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
(1.815) |
(11.499) |
(20.774) |
|
|
d. Employees Benefit Expenses |
57.652 |
56.355 |
167.839 |
|
|
f. Depreciation and Amortisation Expenses |
10.537 |
9.213 |
27.913 |
|
|
g. Other expenses |
107.871 |
100.833 |
306.102 |
|
|
Total Expenses (Any item
exceeding 10% of the total expenditure to be shown separately) |
303.316 |
289.456 |
878.236 |
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
39.376 |
46.829 |
117.728 |
|
4 |
Other Income |
0.966 |
1.098 |
3.433 |
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
40.342 |
47.927 |
121.161 |
|
6 |
Finance Cost |
10.472 |
10.693 |
29.211 |
|
7 |
Profit after
Interest but before Exceptional Items |
29.870 |
37.234 |
91.950 |
|
8 |
Profit/Loss from
ordinary Activities before tax |
29.870 |
37.234 |
91.950 |
|
9 |
Tax Expense |
|
|
|
|
|
Current Tax |
(10.500) |
(13.500) |
(34.000) |
|
|
Deferred tax |
0.398 |
7.015 |
1.805 |
|
10 |
Net Profit/ loss
from ordinary Activities After Tax |
19.768 |
30.749 |
59.755 |
|
11 |
Net Profit / loss for the period |
19.768 |
30.749 |
59.755 |
|
15 |
Paid-up equity share capital (face value of Rs.10 per share) |
22.400 |
22.400 |
22.400 |
|
|
Face value per Share |
2.00 |
2.00 |
2.00 |
|
16 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
0.000 |
0.000 |
0.000 |
|
17 |
Earning Per Share (of Rs.10 each) (not annualized) |
2.00 |
2.00 |
2.00 |
|
|
Basic and diluted EPS before Extraordinary items for the period, for the year to date and for the previous year (not to be annualized) |
1.77 |
2.75 |
5.34 |
|
|
Basic and Diluted EPS after Extraordinary items for the period, for the year to date and for the previous year (not to be aannualized) |
1.77 |
2.75 |
5.34 |
|
|
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
- No. of shares |
4934442 |
4934442 |
4934442 |
|
|
- Percentage of shareholding |
44.06 |
44.06 |
44.06 |
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- No. of shares |
0.000 |
0.000 |
0.000 |
|
|
b) Non-encumbered |
|
|
|
|
|
- No. of shares |
6265558 |
6265558 |
6265558 |
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100.00 |
100.00 |
100.00 |
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
55.94 |
55.94 |
55.94 |
NOTE :
1. The above interim financial results have been reviewed by the Audit Committee of the Board and approved by the Board of Directors in their meetings held on February 10, 2015. The same has been subjected to limited review by the Statutory Auditors.
2. For the preparation of these financial results, the company has followed the same accounting policies and generally accepted practices adopted for the preparation of audited financial statements for the year ended March 31, 2014, except for accounting of depreciation on fixed assets.
3. As per the requirement of the Companies Act, 2013, the company has reassessed the remaining useful life of the fixed assets taking into consideration the useful life prescribed in Schedule II of the Act. Accordingly depreciation has been charged in the current quarter.
4. Corresponding previous period figures have been regrouped / rearranged wherever necessary to make them comparable with current period figures.
5. The Company's business activity falls under single
primary business segment viz. "Manufacturing of Industrial Fastners",
thus disclosure requirement of accounting standard (AS-17) "Segment Reporting"
is not applicable.
6. The figures of the last quarter of financial year 2013 - 2014 are the
balancing figures between audited figures in respect of the full financial year
upto March 31, 2014 and the unaudited published year-to-date figures upto December
31, 2013 which were subject to limited review.
FIXED ASSETS
- Building
- Plant and
Equipment
- Furniture and
Fixture
- Vehicles
- Office
Equipment
- Electrical
Installation
- Computers
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 : |
KMN |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.