MIRA INFORM REPORT
|
Report No. : |
336046 |
|
Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
K G DENIM LIMITED
|
|
|
|
|
Registered
Office : |
Then Thirumalai,
Coimbatore – 641 302, Tamilnadu |
|
Tel. No.: |
91-4254-304401 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
25.06.1992 |
|
|
|
|
Com. Reg. No.: |
18-003798 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.256.700 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17115TZ1992PLC003798 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBK03032B |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged in manufacturing and
selling of denim and apparel fabrics to fashion brands and retailers. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. For the financial year ended 2015, company has average operational
performance and profit of the company has drastically declined. Rating further constrained on account of cyclical nature of the denim industry
marked by moderate financial risk profile and leverage balance sheet profile
of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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: “BB-” |
|
Rating Explanation |
Inadequate-credit-quality and high credit risk. |
|
Date |
11.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
11.07.2014 |
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
31-03-2013.
INFORMATION PARTED BY
|
Name : |
Mr. Balaji Muthuswamy |
|
Designation : |
Chief Financial Officer |
|
Contact No.: |
91-4254-304401 |
|
Date : |
11.08.2015 |
LOCATIONS
|
Registered Office : |
Then Thirumalai,
Coimbatore – 641 302, Tamilnadu, India |
|
Tel. No.: |
91-4254-304401/ 235300/ 304300 |
|
Fax No.: |
91-4254-304400 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Jadayam Palayam, Via Sirumugai, Taluka Mettupalayam, Coimbatore – 641
302, Tamilnadu, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Govindaswamynaidu
Balakrishnan |
|
Designation : |
Managing
Director |
|
Address : |
188,
Race Course, Coimbatore – 641 018, Tamilnadu, India |
|
Date of Appointment : |
03.11.2003 |
|
DIN No.: |
00002174 |
|
|
|
|
Name : |
Balakrishnan
Srihari |
|
Designation : |
Managing
Director |
|
Address : |
188,
Race Course, Coimbatore – 641 018, Tamilnadu, India |
|
Date of Appointment : |
03.11.2003 |
|
DIN No.: |
00002556 |
|
|
|
|
Name : |
Balakrishnan
Sriramulu |
|
Designation : |
Managing
Director |
|
Address : |
188,
Race Course, Coimbatore – 641 018, Tamilnadu, India |
|
Date of Appointment : |
03.11.2003 |
|
DIN No.: |
00002560 |
|
|
|
|
Name : |
Ayyalusamy
Velusamy |
|
Designation : |
Director |
|
Address : |
46
A II Layout, Krishnasamy Nagar, Coimbatore – 641 045, Tamilnadu, India |
|
Date of Appointment : |
27.01.2005 |
|
DIN No.: |
00002204 |
|
|
|
|
Name : |
Subrahmanyam
Muthuswamy |
|
Designation : |
Whole-time
Director |
|
Address : |
3,
Premanikunjam, Dhamu Garden, SM Palayam Road, GN Mills Post, Coimbatore – 641
029, Tamilnadu, India |
|
Date of Appointment : |
30.05.2002 |
|
DIN No.: |
00004957 |
|
|
|
|
Name : |
Kodumudi
Narayanaswami Venkata Ramani |
|
Designation : |
Director |
|
Address : |
154,
Kalidas Road, Ramnagar, Coimbatore – 641 009, Tamilnadu, India |
|
Date of Appointment : |
31.10.2003 |
|
DIN No.: |
00007931 |
|
|
|
|
Name : |
Srikrishnadesikan |
|
Designation : |
Director |
|
Address : |
79
A K Nagar, Saibaba Mission Post, Coimbatore – 641 011, Tamilnadu, India |
|
Date of Appointment : |
31.10.2003 |
|
DIN No.: |
00050597 |
|
|
|
|
Name : |
Anandhi |
|
Designation : |
Director |
|
Address : |
218
Tea Estate Compound, Race Course, Coimbatore – 641 018, Tamilnadu, India |
|
Date of Appointment : |
31.10.2003 |
|
DIN No.: |
00050786 |
|
|
|
|
Name : |
Vydianathaswamy
Jagadisan |
|
Designation : |
Director |
|
Address : |
Old
No.2 New No.3 First Main Road, Gandhi Nagar Adayar, Chennai – 600 020,
Tamilnadu, India |
|
Date of Appointment : |
31.10.2003 |
|
DIN No.: |
00058769 |
|
|
|
|
Name : |
Surinder
Chhibber |
|
Designation : |
Director |
|
Address : |
Post
Office Box 91104, Tsim Sha Tsui Post Office, Kowloon, HKSAR, Hong Kong |
|
Date of Appointment : |
28.09.2006 |
|
DIN No.: |
00538853 |
|
|
|
|
Name : |
Gobichettipalayam
Periasamy Muniappan |
|
Designation : |
Director
appointed in casual vacancy |
|
Address : |
Deputy
Governer (retd), B-189 Sreevatsa Gardens, Mettupalayam Road, Thudiyalur,
Coimbatore – 641 043, Tamilnadu, India |
|
Date of Appointment : |
31.10.2008 |
|
DIN No.: |
01653599 |
KEY EXECUTIVES
|
Name : |
Mr. Subrahmanyam
Muthuswamy |
|
Designation : |
Company Secretary |
|
Address : |
214-B,
Peria Subbannan Street, KK Pudur, Coimbatore – 641 038, Tamilnadu, India |
|
Date of Appointment : |
20.12.2003 |
|
PAN No.: |
AEQPM4135E |
|
|
|
|
Name : |
Mr. Balaji Muthuswamy |
|
Designation : |
Chief Financial Officer |
|
Address : |
M4,
3rd Floor, Patteeswarar Park, South Block, Ramasamy Layout, KK
Pudur, Sai Baba Colony, Coimbatore – 641 025, Tamilnadu, India |
|
Date of Appointment : |
24.05.2014 |
|
PAN No.: |
ADOPM3437C |
|
|
|
|
Name : |
Mr.
Shaigal |
|
Designation : |
HR
Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
9869258 |
38.47 |
|
|
5162145 |
20.12 |
|
|
15031403 |
58.59 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
15031403 |
58.59 |
|
(B)
Public Shareholding |
|
|
|
|
|
|
|
|
5100 |
0.02 |
|
|
500 |
0.00 |
|
|
2300 |
0.01 |
|
|
7900 |
0.03 |
|
|
|
|
|
|
878984 |
3.43 |
|
|
|
|
|
|
5661694 |
22.07 |
|
|
2925554 |
11.40 |
|
|
1148370 |
4.48 |
|
|
280704 |
1.09 |
|
|
358008 |
1.40 |
|
|
509458 |
1.99 |
|
|
200 |
0.00 |
|
|
10614602 |
41.38 |
|
Total
Public shareholding (B) |
10622502 |
41.41 |
|
Total
(A)+(B) |
25653905 |
100.00 |
|
(C)
Shares held by Custodians and against which Depository Receipts have been
issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
25653905 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and
selling of denim and apparel fabrics to fashion brands and retailers. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30/ 60/ 90 days) |
|
|
|
|
Purchasing : |
Cash and Credit (30/ 60/ 90 days)
|
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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|
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|
Customers : |
End Users and OEM’s
|
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|
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|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||||||||||||||
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|
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|
Bankers : |
·
Bank of India ·
Allahabad Bank ·
State Bank of India ·
State Bank of Hyderabad ·
Indian Overseas Bank ·
The South Indian Bank Limited |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
BMW
India Financial Services Private Limited, DLF Cyber City, Phase II, Building
No.10, Tower C, 14th Floor, Gurgaon – 122 002, Haryana, India |
|
|
|
|
Auditors : |
|
|
Name : |
Gopalaiyer and Subramanian Chartered Accountants |
|
Address : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Subsidiaries (As on 31.03.2014) : |
·
Trigger Apparels Limited ·
KG Denim (USA) Inc. |
|
|
|
|
Other Related
Party (As on 31.03.2014) : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Paid-up Capital : Rs.256.700
million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
31000000 |
Equity Shares |
Rs.10/- each |
Rs.310.000 million |
|
1000000 |
10% Cumulative Redeemable Preference Shares |
Rs.100/- each |
Rs.100.000 million |
|
|
Total |
|
Rs.410.000
million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25691305 |
Equity Shares |
Rs.10/- each |
Rs.256.913
million |
|
|
|
|
|
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
25653905 |
Equity Shares |
Rs.10/- each |
Rs.256.539
million |
|
Add: |
Forfeited Shares (Amount
originally paid up) |
|
Rs.0.112
million |
|
|
Total |
|
Rs.256.651 million |
|
|
|
|
|
NOTES:
Reconciliation of the number of shares outstanding at the beginning and
at the end of the reporting period
|
Particulars |
31.03.2014 |
|
Shares outstanding at the beginning of the year 25653905 Number |
256.539 |
|
Shares outstanding
at the end of the year 25653905 Number |
256.539 |
Shares in the company held by each shareholder holding more than 5
percent shares
|
Name of the
shareholders |
31.03.2014 |
|
|
No. of shares held |
% of holding |
|
|
Sri Kannapiran Mills Limited |
3065183 |
11.95 |
|
KG Baalakrishnan |
2578560 |
10.05 |
|
B Srihari |
2231859 |
8.70 |
|
B Sriramulu |
2208659 |
8.61 |
|
B Sathyabama |
1886500 |
7.35 |
Terms and
Conditions of Equity Shares:
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.
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.
There are no shares allotted as fully paid without payments being
received in cash, bonus shares or shares bought back.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
256.700 |
256.651 |
256.651 |
|
(b) Reserves & Surplus |
355.600 |
419.702 |
376.204 |
|
(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) |
612.300 |
676.353 |
632.855 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
636.900 |
389.113 |
421.645 |
|
(b) Deferred tax
liabilities (Net) |
77.600 |
127.281 |
130.200 |
|
(c) Other long term
liabilities |
27.200 |
24.000 |
25.496 |
|
(d) Long-term provisions |
26.500 |
22.264 |
22.622 |
|
Total Non-current
Liabilities (3) |
768.200 |
562.658 |
599.963 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
723.400 |
656.191 |
563.823 |
|
(b) Trade payables |
1249.400 |
1231.445 |
1066.455 |
|
(c) Other current
liabilities |
291.500 |
276.352 |
241.164 |
|
(d) Short-term provisions |
74.600 |
23.964 |
23.880 |
|
Total Current Liabilities
(4) |
2338.900 |
2187.952 |
1895.322 |
|
|
|
|
|
|
TOTAL |
3719.400 |
3426.963 |
3128.140 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i) Tangible assets |
978.300 |
1204.135 |
1119.864 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
566.700 |
71.505 |
47.941 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
53.700 |
53.684 |
55.327 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
63.500 |
115.213 |
36.117 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1662.200 |
1444.537 |
1259.249 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
1237.800 |
1123.898 |
1103.753 |
|
(c) Trade receivables |
417.800 |
424.406 |
378.581 |
|
(d) Cash and cash
equivalents |
82.100 |
89.462 |
83.707 |
|
(e) Short-term loans and
advances |
194.700 |
179.359 |
186.322 |
|
(f) Other current assets |
124.800 |
165.301 |
116.528 |
|
Total Current Assets |
2057.200 |
1982.426 |
1868.891 |
|
|
|
|
|
|
TOTAL |
3719.400 |
3426.963 |
3128.140 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
5918.200 |
5918.646 |
5148.277 |
|
|
|
Other Income |
13.000 |
30.905 |
36.315 |
|
|
|
TOTAL |
5931.200 |
5949.551 |
5184.592 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
3655.800 |
3691.761 |
3020.877 |
|
|
|
Purchases of stock-in-trade |
1.000 |
0.397 |
0.006 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(113.500) |
(78.765) |
(65.371) |
|
|
|
Other manufacturing expenses |
1301.900 |
1272.860 |
1138.768 |
|
|
|
Employees benefits expense |
304.600 |
269.825 |
233.107 |
|
|
|
Other expenses |
285.500 |
278.616 |
245.733 |
|
|
|
TOTAL |
5435.300 |
5434.694 |
4573.120 |
|
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
495.900 |
514.857 |
611.472 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
266.300 |
280.515 |
257.630 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
229.600 |
234.342 |
353.842 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
209.800 |
133.460 |
119.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
19.800 |
100.882 |
234.672 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
17.700 |
35.023 |
79.393 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
2.100 |
65.859 |
155.279 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
219.687 |
176.189 |
43.271 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Equity Dividend |
NA |
19.240 |
19.240 |
|
|
|
Tax on Proposed Equity Dividend |
NA |
3.121 |
3.121 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
219.687 |
176.189 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods on Direct Export |
NA |
2315.479 |
1833.142 |
|
|
TOTAL EARNINGS |
NA |
2315.479 |
1833.142 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
114.687 |
143.326 |
|
|
|
Chemicals |
NA |
116.150 |
105.490 |
|
|
|
Spares & Components |
NA |
20.684 |
70.051 |
|
|
|
Capital Goods |
NA |
52.458 |
105.161 |
|
|
TOTAL IMPORTS |
NA |
303.979 |
424.028 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.08 |
2.57 |
6.05 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
200.221 |
182.828 |
|
Cash generated from operations |
NA |
527.325 |
576.172 |
|
Net cash from
operating activities |
NA |
489.382 |
497.115 |
QUARTERLY RESULTS
|
PARTICULARS |
|
|
30.06.2015 |
|
Unaudited |
|
|
1st
Quarter |
|
Net Sales |
|
|
1594.100 |
|
Total Expenditure |
|
|
1435.400 |
|
PBIDT (Excl OI) |
|
|
158.700 |
|
Other Income |
|
|
NA |
|
Operating Profit |
|
|
158.700 |
|
Interest |
|
|
77.900 |
|
Exceptional Items |
|
|
NA |
|
PBDT |
|
|
80.800 |
|
Depreciation |
|
|
42.800 |
|
Profit Before Tax |
|
|
38.000 |
|
Tax |
|
|
22.000 |
|
Provisions and contingencies |
|
|
NA |
|
Profit After Tax |
|
|
16.000 |
|
Extraordinary Items |
|
|
NA |
|
Prior Period Expenses |
|
|
NA |
|
Other Adjustments |
|
|
NA |
|
Net Profit |
|
|
16.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.04 |
1.11 |
3.02 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
8.38 |
8.70 |
11.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.64 |
3.06 |
7.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.15 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.22 |
1.55 |
1.56 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.88 |
0.91 |
0.99 |
STOCK
PRICES
|
Face Value |
Rs.10.00 |
|
Market Value |
Rs.43.35 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
256.651 |
256.651 |
256.700 |
|
Reserves & Surplus |
376.204 |
419.702 |
355.600 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
632.855 |
676.353 |
612.300 |
|
|
|
|
|
|
Long-term borrowings |
421.645 |
389.113 |
636.900 |
|
Short term borrowings |
563.823 |
656.191 |
723.400 |
|
Total borrowings |
985.468 |
1045.304 |
1360.300 |
|
Debt/Equity ratio |
1.557 |
1.546 |
2.222 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
5148.277 |
5918.646 |
5918.200 |
|
|
|
14.964 |
(0.008) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Revenue from operations |
5148.277 |
5918.646 |
5918.200 |
|
Profit |
155.279 |
65.859 |
2.100 |
|
|
3.02% |
1.11% |
0.04% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX
OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge holder |
Address |
Service Request Number
(SRN) |
|
1 |
10559619 |
24/03/2015 |
100,000,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31,
VARIETY HALL ROAD, COIMBATORE, TAMILNADU - 641001, INDIA |
C49303175 |
|
2 |
10556346 |
28/02/2015 |
4,100,000.00 |
BMW INDIA FINANCIAL
SERVICES PRIVATE LIMITED |
DLF CYBER CITY, PHASE II,
BUILDING NO.10 TOWER C, |
C47404058 |
|
3 |
10548789 |
19/01/2015 |
11,609,000.00 |
ICICI BANK |
NO-5, DAR COMPLEX, FIRST
FLOOR, SHASTRI ROAD, RAMNAGAR, COIMBATORE, TAMILNADU - 641009, INDIA |
C43417179 |
|
4 |
10552846 |
10/01/2015 |
17,500,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH,
31, VARIETY HALL ROAD, COIMBATORE, TAMILNADU - 641001, INDIA |
C45471786 |
|
5 |
10541132 |
18/12/2014 |
469,360.00 |
ICICI BANK |
NO-5, DAR COMPLEX, FIRST FLOOR,
SHASTRI ROAD, RAMNAGAR, COIMBATORE, TAMILNADU - 641009, INDIA |
C39494562 |
|
6 |
10541134 |
18/12/2014 |
469,360.00 |
ICICI BANK |
NO-5, DAR COMPLEX, FIRST
FLOOR, SHASTRI ROAD, RAMNAGAR, COIMBATORE, TAMILNADU - 641009, INDIA |
C39495296 |
|
7 |
10540503 |
26/11/2014 |
870,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL |
C39159553 |
|
8 |
10509218 |
21/06/2014 |
479,000.00 |
ICICI BANK |
NO-5, DAR COMPLEX, FIRST FLOOR,
SHASTRI ROAD, RAMNAGAR, COIMBATORE, TAMILNADU - 641009, INDIA |
C11444486 |
|
9 |
10506370 |
28/06/2014 * |
74,100,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
GANDHIPURAM BRANCH, C K N
BUILDING,100 FEET ROAD, |
C12280541 |
|
10 |
10465114 |
18/10/2013 |
23,000,000.00 |
HOUSING DEVELOPMENT
FINANCE CORPORATION LIMITED |
HDFC HOUSE, 29, KAMARAJ
ROAD, COIMBATORE, TAMILNADU - 641018, INDIA |
B91534743 |
|
11 |
10462477 |
11/10/2013 |
147,000,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
COIMBATORE GANDHIPURAM
BRANCH, CKN BUILDING, 100 FEET ROAD, GANDHIPURAM, COIMBATORE, TAMILNADU
- 641012, INDIA |
B90441502 |
|
12 |
10461438 |
14/11/2013 * |
148,000,000.00 |
BANK OF INDIA |
COIMBATORE MID CORPORATE
BRANCH, FIRST FLOOR, CHAMBER TOWERS, 8/732, AVINASHI ROAD, COIMBATORE,
TAMILNADU - 641018, INDIA |
B92516863 |
|
13 |
10459739 |
14/11/2013 * |
148,000,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31,
VARIETY HALL ROAD, COIMBATORE, TAMILNADU - 641001, INDIA |
B90725813 |
|
14 |
10366139 |
09/05/2013 * |
100,000,000.00 |
BANK OF INDIA |
MID CORPORATE BRANCH,
FIRST FLOOR, CHAMBER TOWERS, |
B78812088 |
|
15 |
10349045 |
19/04/2013 * |
120,000,000.00 |
INDIAN OVERSEAS BANK |
PARK SQUARE BRANCH, 1027-
AVINASHI ROAD, NEAR VOC PARK, UPPILIPALAYAM, COIMBATORE, TAMILNADU - 641018,
INDIA |
B76975879 |
|
16 |
10320308 |
19/04/2013 * |
100,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1443,
TRICHY ROAD,, COIMBATORE, TAMILNADU - 641018, INDIA |
B76817923 |
|
17 |
90007210 |
17/03/2015 * |
210,500,000.00 |
ALLAHABAD BANK |
98, MECRICAR ROAD, R S
PURAM, COIMBATORE, TAMILNADU - 641002, INDIA |
C52774262 |
|
18 |
90006921 |
22/08/2013 * |
324,900,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1443,
TRICHY ROAD, COIMBATORE, |
B85667590 |
|
19 |
90006688 |
17/03/2015 * |
430,300,000.00 |
BANK OF INDIA |
COIMBATORE MID CORPORATE
BRANCH, FIRST FLOOR, CHAMBER TOWERS, 8/732, AVINASHI ROAD, COIMBATORE,
TAMILNADU - 641018, INDIA |
C53861746 |
|
20 |
90006683 |
23/09/2013 * |
671,100,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31,
VARIETY HALL ROAD, COIMBATORE, TAMILNADU - 641001, INDIA |
B89323141 |
* Date of charge modification
CONTINGENT
LIABILITY:
|
Particulars |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
a)
Bills discounted with banks |
NA |
422.874 |
|
b) Estimated amount of
contracts remaining to be executed in capital account and not provided for |
NA |
208.974 |
|
c)
Disputed Excise / Customs Duties |
NA |
98.125 |
|
d)
Disputed Income Tax |
NA |
15.400 |
|
e)
Guarantees given to Bank for loan to subsidiary |
NA |
65.100 |
|
f) Guarantees given on
behalf of Associates for fulfilment of their Export obligation under EPCG
Scheme |
NA |
30.00 |
FIXED ASSETS
· Land
· Buildings
· Machinery
· Electric Machinery
· Office Equipments
· Furniture and Fittings
· Motor Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service, Interpol,
etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
|
UK Pound |
1 |
Rs.98.76 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.