MIRA INFORM REPORT
|
Report No. : |
319590 |
|
Report Date : |
30.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
BHAGWATI AUTOCAST LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 816, Village Rajoda, Near Bavla, Ahmedabad - 382220,
Gujarat, India |
|
Tel. No.: |
91-2714-232283 / 232066 / 232983 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.10.1981 |
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|
|
Com. Reg. No.: |
004718 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.28.807 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27100GJ1981PLC004718 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMB00776G |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
|
Line of Business
: |
Manufacturer of castings and hence requirements |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 620000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and healthy.
Profitability of the company is fair. Trade relations are fair. Business is active. Payments are reported to
be usually correct. The company can be considered for business dealing 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 |
16.01.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
16.01.2015 |
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 BY
|
Name : |
Mr. Balwant Parikh |
|
Designation : |
Account Manager |
|
Contact No.: |
91-2714-232283 |
LOCATIONS
|
Registered Office / Factory : |
Survey No. 816, Village Rajoda, Near Bavla, Ahmedabad - 382220,
Gujarat, India |
|
Tel. No.: |
91-2714-232283 / 232066 / 232983 |
|
Fax No.: |
91-2714-232383 |
|
E-Mail : |
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|
Website : |
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Location : |
Owned |
|
|
|
|
Branch Office : |
101, Shatdal Complex, 1st Floor, Ashram Road, Ahmedabad -
380009, Gujarat, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Dr. P N Bhagwati |
|
Designation : |
Chairman & Managing Director |
|
|
|
|
Name : |
Ms. Reena P Bhagwati |
|
Designation : |
Joint Managing Director |
|
|
|
|
Name : |
Mrs. M P Bhagwati |
|
Designation : |
Directors [up to 28.04.2014] |
|
|
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|
Name : |
Mr. Padmin H Buch |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. R. J. Shah |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. M N Shah |
|
Designation : |
Directors |
KEY EXECUTIVES
|
Name : |
Mr. Balwant Parikh |
|
Designation : |
Account Manager |
|
|
|
|
Name : |
Mr. Dinesh K. Sheth |
|
Designation : |
Chief Financial Officer |
|
|
|
|
Name : |
Mr. Nimish Sakhiya |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
|
||
|
(A) Shareholding of Promoter
and Promoter Group |
||
|
|
|
|
|
|
1043437 |
36.22 |
|
|
625815 |
21.72 |
|
|
1669252 |
57.95 |
|
|
|
|
|
Total shareholding of
Promoter and Promoter Group (A) |
1669252 |
57.95 |
|
|
|
|
|
(B) Public Shareholding |
||
|
|
|
|
|
|
300 |
0.01 |
|
|
1 |
0.00 |
|
|
301 |
0.01 |
|
|
|
|
|
|
57679 |
2.00 |
|
|
|
|
|
Individual shareholders
holding nominal share capital up to Rs. 0.100 Million |
803614 |
27.90 |
|
Individual shareholders holding
nominal share capital in excess of Rs. 0.100 Million |
259963 |
9.02 |
|
|
89875 |
3.12 |
|
|
71505 |
2.48 |
|
|
18370 |
0.64 |
|
|
1211131 |
42.04 |
|
Total Public shareholding
(B) |
1211432 |
42.05 |
|
|
|
|
|
Total (A)+(B) |
2880684 |
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) |
2880684 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of castings and hence requirements |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
Millin J Jani and Company Chartered Accountants |
|
Address : |
306, 3rd Floor, Shital Varsha Arcade Girish Cold Drink
Cross Road, C.G. Road, Ahmedabad – 380 009, Gujarat, India |
|
|
|
|
Parties where
control Exists : |
Bhagwati Spherocast Private Limited Bhagwati Filters Private Limited |
|
|
|
|
Firm in which
Director is a Partner : |
Mahendra N Shah and Company |
|
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Firms in which
Director's relative is proprietor : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2933637 |
Equity Shares |
Rs.10/- each |
Rs.29.336 Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2880684 |
Equity Shares |
Rs.10/- each |
Rs.28.807 Million |
|
|
|
|
|
|
Particulars |
Number |
Rs. In Million |
|
Share outstanding at the beginning of the year |
2,880,684 |
28.807 |
|
Shares Issued during the year |
0 |
0.000 |
|
Shares bought back during the |
0 |
0.000 |
|
Shares outstanding at the end of the year |
2,880,684 |
28.807 |
Name of Shareholder
|
|
No. of Shares held |
% of Holding |
|
Ms. Reena P. Bhagwati |
520,000 |
18.05 |
|
Mrs. Mandakini P Bhagwati |
305,913 |
10.62 |
|
M/s. Bhagwati Spherocast Private Limited |
611,246 |
21.22 |
During last 5 years the Company has not issued any shares as bonus shares or for payment received otherwise than cash or bought back any share.
There are no unpaid calls from Directors or officers.
The Company has only one class of equity shares having a par value of Rs. 10/- per share. Each equity shareholder is entitled to one vote per share. The Company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting.
During the year ended 31st March 2014, the amount of dividend, per share, recognised as distributions to equity shareholders is Rs. 0.90 (Year ended 31st March 2013 Rs. 0.70)
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 |
28.807 |
28.807 |
28.807 |
|
(b) Reserves & Surplus |
186.989 |
143.521 |
131.197 |
|
(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) |
215.796 |
172.328 |
160.004 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
14.850 |
17.499 |
19.999 |
|
(b) Deferred tax liabilities (Net) |
20.559 |
19.473 |
16.268 |
|
(c) Other long term
liabilities |
1.333 |
1.450 |
1.150 |
|
(d) long-term
provisions |
11.383 |
11.571 |
10.763 |
|
Total Non-current
Liabilities (3) |
48.125 |
49.993 |
48.180 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
57.362 |
27.566 |
34.517 |
|
(b) Trade
payables |
156.914 |
133.250 |
138.071 |
|
(c) Other
current liabilities |
19.090 |
25.208 |
21.246 |
|
(d) Short-term
provisions |
59.484 |
39.559 |
34.810 |
|
Total Current
Liabilities (4) |
292.850 |
225.583 |
228.644 |
|
|
|
|
|
|
TOTAL |
556.771 |
447.904 |
436.828 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
194.076 |
171.205 |
174.607 |
|
(ii)
Intangible Assets |
1.977 |
2.390 |
0.149 |
|
(iii) Capital
work-in-progress |
0.000 |
1.214 |
0.000 |
|
(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) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
10.767 |
10.061 |
9.293 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
206.820 |
184.870 |
184.049 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
62.098 |
53.197 |
51.646 |
|
(c) Trade
receivables |
214.490 |
149.971 |
139.056 |
|
(d) Cash
and cash equivalents |
5.879 |
10.462 |
14.144 |
|
(e)
Short-term loans and advances |
67.484 |
49.404 |
47.933 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
349.951 |
263.034 |
252.779 |
|
|
|
|
|
|
TOTAL |
556.771 |
447.904 |
436.828 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
819.265 |
691.621 |
580.064 |
|
|
|
Other Income |
0.348 |
11.095 |
0.526 |
|
|
|
TOTAL (A) |
819.613 |
702.716 |
580.590 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
398.378 |
351.458 |
296.010 |
|
|
|
Purchases of Stock-in-Trade |
2.306 |
0.000 |
1.020 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.496) |
0.478 |
(0.191) |
|
|
|
Employees benefits expense |
79.448 |
79.197 |
60.632 |
|
|
|
Power & Fuel |
78.652 |
0.000 |
0.000 |
|
|
|
Other expenses |
173.046 |
221.385 |
190.006 |
|
|
|
TOTAL (B) |
724.334 |
652.518 |
547.477 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
95.279 |
50.198 |
33.113 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.458 |
11.826 |
6.124 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
85.821 |
38.372 |
26.989 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.407 |
17.185 |
14.356 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
67.414 |
21.187 |
12.633 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
21.887 |
6.504 |
4.838 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
45.527 |
14.683 |
7.795 |
|
|
|
|
|
|
|
|
|
Add |
Earlier year excess proposed dividend and dividend
distribution tax |
0.974 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT FOR THE
YEAR |
46.501 |
14.683 |
7.795 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
39.025 |
26.701 |
20.580 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
2.593 |
2.016 |
1.440 |
|
|
|
Tax on Dividend |
0.440 |
0.343 |
0.234 |
|
|
BALANCE CARRIED
TO THE B/S |
82.493 |
39.025 |
26.701 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.14 |
5.10 |
2.71 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin |
(%) |
5.56 |
2.12 |
1.34 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
11.63 |
7.26 |
5.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.11 |
4.74 |
2.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.12 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.33 |
0.26 |
0.34 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.17 |
1.11 |
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 |
28.807 |
28.807 |
28.807 |
|
Reserves & Surplus |
131.197 |
143.521 |
186.989 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
160.004 |
172.328 |
215.796 |
|
|
|
|
|
|
long-term borrowings |
19.999 |
17.499 |
14.850 |
|
Short term borrowings |
34.517 |
27.566 |
57.362 |
|
Total borrowings |
54.516 |
45.065 |
72.212 |
|
Debt/Equity ratio |
0.341 |
0.262 |
0.335 |
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 |
580.064 |
691.621 |
819.265 |
|
|
|
19.232 |
18.456 |
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 |
580.064 |
691.621 |
819.265 |
|
Profit |
7.795 |
14.683 |
45.527 |
|
|
1.34% |
2.12% |
5.56% |
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 |
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULAR |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
SHORT TERM
BORROWINGS |
|
|
|
(a) From related parties |
|
|
|
From Directors |
4.070 |
4.070 |
|
From Company |
2.950 |
2.950 |
|
From relatives of Directors |
0.000 |
1.250 |
|
(b) From others (There is no default as on the balance sheet date in repayment of loans and interest.) |
0.000 |
1.000 |
|
Total |
7.020 |
9.270 |
CONTINGENT
LIABILITIES
|
PARTICULAR |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Contingent liabilities (to the extent not provided for) |
|
|
|
Claims against the company not acknowledged as debt |
0.077 |
0.077 |
|
Guarantees |
10.500 |
10.500 |
|
Other money for which the company is contingently liable |
1.153 |
1.153 |
|
Total |
11.730 |
11.730 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
90103780 |
25/03/2014 * |
109,900,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, OPP. NATRAJ CINEMA, ASHRAM RO |
C00801779 |
|
2 |
90103613 |
13/03/2014 * |
109,900,000.00 |
BANK OF BARODA |
ASHRAM ROAD BRANCH, OPP. NATRAJ CINEMA, ASHRAM RO |
C00801290 |
* Date of charge modification
REVIEW OF OPERATIONS
During the year, the Company’s sales increased by 16.63 % and operating profit increased by 89.80 %. This is due to good demand from our customers and better sales realisation. The company in this year planning for expansion of factory building & modernization of its Core Shop and other infrastructural facilities.
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND NINE MONTHS
ON 31.12.2014
[RS.
IN MILLIONS]
|
PARTICULARS |
Quarter Ended |
9 Months Ended |
|
|
31.12.2014 [Unaudited] |
30.09.2014 [Unaudited] |
31.12.2014 [Unaudited] |
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
135.288 |
199.154 |
513.935 |
|
b) Other operating income |
0.000 |
0.000 |
0.000 |
|
Total
Income from Operations (net) |
135.288 |
199.154 |
513.935 |
|
|
|
|
|
|
2.Expenditure |
|
|
|
|
Cost of material consumed |
61.903 |
106.772 |
262.828 |
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
10.724 |
(5.655) |
9.501 |
|
Employees benefits expense |
19.825 |
22.190 |
63.070 |
|
Depreciation |
8.815 |
8.698 |
25.955 |
|
Power and Fuel |
20.220 |
25.590 |
66.622 |
|
Other expenses |
27.938 |
48.822 |
116.655 |
|
Total expenses |
149.425 |
206.417 |
544.631 |
|
|
|
|
|
|
3. Profit from operations before other income, and financial
costs and Exceptional Items |
(14.137) |
(7.263) |
(30.696) |
|
4. Other income |
0.423 |
0.055 |
0.714 |
|
5.Ecxhange Gain |
-- |
-- |
-- |
|
6. Profit from ordinary activities before finance costs |
(13.714) |
(7.208) |
(29.982) |
|
7. Finance costs |
1.680 |
1.945 |
5.742 |
|
8. Net profit/(loss) from
ordinary activities after finance costs but before exceptional items |
(15.394) |
(9.153) |
(35.724) |
|
9. Exceptional item |
0.000 |
0.000 |
0.000 |
|
10. Profit from ordinary activities
before tax Expense: |
(15.394) |
(9.153) |
(35.724) |
|
11.Tax expenses |
(1.368) |
(1.457) |
(4.296) |
|
12.Net Profit / (Loss) from
ordinary activities after tax (9-10) |
(14.026) |
(7.696) |
(31.428) |
|
13.Extraordinary Items (net of tax
expense) |
0.000 |
0.000 |
0.000 |
|
14.Net
Profit / (Loss) for the period (11 -12) |
(14.026) |
(7.696) |
(31.428) |
|
15.Paid-up equity share capital (Nominal value Rs.10
per share) |
28.807 |
28.807 |
28.807 |
|
16. Reserve excluding Revaluation Reserves as per
balance sheet of previous accounting year |
-- |
-- |
-- |
|
17.i)
Earnings per share (before extraordinary items) of Rs.10/- each) (not
annualised): |
|
|
|
|
(a) Basic and diluted |
(4.87) |
(2.67) |
(1.091) |
|
|
|
|
|
|
A.
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1.
Public Shareholding |
|
|
|
|
- Number of shares |
1211432 |
1223566 |
1211432 |
|
- Percentage of shareholding |
42.05 |
43.47 |
42.05 |
|
2. Promoters
and Promoters group Shareholding |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
1669252 |
1657118 |
1669252 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
100.00 |
100.00 |
100.00 |
|
Percentage of shares (as a % of total share capital of the
company) |
57.95 |
57.53 |
57.95 |
|
|
PARTICULARS |
Quarter Ended 31.12.2014 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the Quarter |
Nil |
|
|
Disposed of during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
NOTE :
1. The above results were approved by the Board of Directors at the meeting held on 10/02/2014.
2. Limited Review for the quarter ended on 31/12/2014, as required under clause 41 of Listing Agreement has been carried out by Statutory Auditors.
3. The Company has only one segment viz. Manufacturing of Castings, hence A.S. 17 "Segment Reporting" issued by ICAI is not applicable.
4. During the Quarter very low demand of castings from customers in the month of December have adversely affected the performance of the Company.
5. The depreciation for the quarter ended on 31st December, 2014 has been calculated as per the provisions of the Companies Act, 2013 which are effective from 1st April,2014. Due to the same the Company has charged additional depreciation of Rs.110.85 Lacs in the current quarter. Under the circumstances, it is not comparable with the same for other quarters/year, which was calculated as per the provisions of the Companies Act, 1956.
6. Previous year and quarter figures have been regrouped / rearranged wherever required.
FIXED ASSETS
- Land
- Office buildings
- Plant and equipment
- Electrical installations
- Laboratory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computers
- Moulding boxes
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.63.20 |
|
|
1 |
Rs.97.01 |
|
Euro |
1 |
Rs.69.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
|
48 |
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.