MIRA INFORM REPORT
|
Report No. : |
337350 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
ACRYSIL LIMITED (w.e.f. 22.02.1999) |
|
|
|
|
Formerly Known
As : |
ACRYSIL ( |
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|
Registered
Office : |
704, Centre Point, J. B. Nagar, Andheri – Kurla Road
(East), Mumbai – 400059, Maharashtra |
|
Tel. No.: |
91-22-66711101/ 66711105 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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|
Date of Incorporation
: |
19.01.1987 |
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|
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Com. Reg. No.: |
11-042283 |
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|
Capital
Investment / Paid-up Capital : |
Rs.46.580
Million |
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|
|
|
CIN No.: [Company Identification
No.] |
L26914MH1987PLC042283 |
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|
|
|
IEC No.: |
Not Available |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20070B |
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|
|
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PAN No.: [Permanent Account No.] |
AABCA0583C |
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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
: |
Subject is engaged in manufacturing and selling of kitchen sinks and appliances. |
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|
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|
No. of Employees
: |
Information declined by the management. |
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 |
|
Status : |
Good |
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|
|
Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having fine track. Financial position of the company seems to be sound. The rating also take into consideration, an acceptable share price of
Rs.701/- recorded by the company as against a face value of Rs.10.00 as on August
18, 2015. Trade relations are reported as fair. Business is active. Payment
terms are reported to be regular and as per commitments. 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term
fund based limits = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
May, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short
term fund based limits = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
May, 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
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Rajiv |
|
Designation : |
Accounts department |
|
Contact No.: |
91-278-2540232 |
|
Date : |
17.08.2015 |
LOCATIONS
|
Registered Office : |
704, Centre Point, J. B. Nagar, Andheri – Kurla Road (East), Mumbai – 400059, Maharashtra, India |
|
Tel. No.: |
91-22-66711101/ 66711105 |
|
Fax No.: |
91-22-66711109 |
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E-Mail : |
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|
Website : |
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|
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Head Office/ Factory : |
Survey
No. 312, Bhavnagar - Rajkot Highway, Navagam, Vartej, Bhavnagar - 364060,
Gujarat, India |
|
Tel. No.: |
91-278-2540218/ 2540893/ 2540392/ 2540232 |
|
Fax No.: |
91-278-2540558 |
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E-Mail : |
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Corporate Offices : |
Bangalore Office with Showroom : # 253/A, MDR House, 7th Block, Kanakapura Main Road,
Jayanagar, Bangalore-560082, Karnataka, India Tel. :
91-080-26642157 Email : kitchens@carysil.com Ahmedabad Office : U.G.F. Shop No.15-16, Rivera Arcade, Near Prahladnagar Garden, 100ft
Road, Tel. : 91-79-26937082 /
40034112 Fax : 91-79-40034112 Delhi Office: 11, First Floor Mansarover Garden, Opposite, Saheed A Azam Bhagatsingh
Park, Near Destimoney Kirti Nagar, New Delhi – 110015, India Tel. : +91-011-40524889 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Ashwin Mohanlal Parekh |
|
Designation : |
Executive Chairman |
|
Address : |
Devi Bhuvan, Victoria Park Road, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
12.07.1939 |
|
Date of Appointment : |
19.01.1987 |
|
|
|
|
Name : |
Mr. Chirag Ashwin Parekh |
|
Designation : |
Vice Chairman and Managing Director |
|
Address : |
Devi Bhuvan, Victoria Park Road, Bhavnagar - 364002, Gujarat, India |
|
Date of Birth/Age : |
30.08.1969 |
|
Date of Appointment : |
02.11.2002 |
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|
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|
Name : |
Mrs. Shetal C. Parekh |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Jagdish Ramanlal Naik |
|
Designation : |
Director |
|
Address : |
6, Padma, S V Road, Vile Parle (West), Mumbai - 400056, Maharashtra,
India |
|
Date of Birth/Age : |
23.09.1958 |
|
Date of Appointment : |
29.03.1989 |
|
|
|
|
Name : |
Mr. Ajit Rasiklal Sanghvi |
|
Designation : |
Director |
|
Address : |
1001, Amardeep, Plot No. 39, JVPD Scheme Road 3, Vile Parle (West),
Mumbai - 400056, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1957 |
|
Date of Appointment : |
31.01.2000 |
|
Name : |
Mr. Pradeep Gohil |
|
Designation : |
Director |
|
Name : |
Mr. Shyam Mariwala |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Damodar Hargovindbhai Sejpal |
|
Designation : |
Company Secretary |
|
Address : |
Block No. 304, Aksharvijay Apartment, Nr Grden, Ambawadi Keshod, junagadh-362220, Gujarat, India |
|
Date of Birth/Age : |
04.12.1978 |
|
Date of Appointment : |
18.11.2009 |
|
|
|
|
Name : |
Mr. Rajiv |
|
Designation : |
Accounts department |
|
|
|
|
Audit Committee |
|
|
Name : |
Mr. Ajit R. Sanghvi |
|
Designation : |
Chairman |
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|
|
|
Name : |
Mr. Jagdish R. Naik |
|
Designation : |
Member |
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|
|
|
Name : |
Mr. Chirag A. Parekh |
|
Designation : |
Member |
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|
|
|
Nomination
and Remuneration Committee |
|
|
Name : |
Mr. Jagdish R. Naik |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Shyam H. Mariwala |
|
Designation : |
Member |
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|
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|
Name : |
Mr. Pradeep H. Gohil |
|
Designation : |
Member |
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|
|
|
Stakeholder
Relationship Committee |
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|
Name : |
Mr. Ajit R. Sanghvi |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Jagdish R. Naik |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Chirag A. Parekh |
|
Designation : |
Member |
|
|
|
|
Corporate
Social Responsibility Committee |
|
|
Name : |
Mr. Chirag A. Parekh |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Shyam H. Mariwala |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Pradeep H. Gohil |
|
Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.06.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
As a % of (A+B) |
||
|
(A) Shareholding of
Promoter and Promoter Group |
||
|
|
|
|
|
|
2201350 |
47.26 |
|
|
2201350 |
47.26 |
|
|
|
|
|
Total shareholding of
Promoter and Promoter Group (A) |
2201350 |
47.26 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
150 |
0.00 |
|
|
75 |
0.00 |
|
|
225 |
0.00 |
|
|
|
|
|
|
176499 |
3.79 |
|
|
|
|
|
Individual shareholders
holding nominal share capital up to Rs. 0.100 Million |
1145919 |
24.60 |
|
Individual shareholders
holding nominal share capital in excess of Rs. 0.100 Million |
354990 |
7.62 |
|
|
779017 |
16.72 |
|
|
252 |
0.01 |
|
|
7356 |
0.16 |
|
|
3204 |
0.07 |
|
|
315805 |
6.78 |
|
|
452400 |
9.71 |
|
|
2456425 |
52.74 |
|
Total Public shareholding
(B) |
2456650 |
52.74 |
|
|
|
|
|
Total (A)+(B) |
4658000 |
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) |
4658000 |
100.00 |
SHAREHOLDING OF
SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS
BELONGING TO THE CATEGORY PROMOTER AND PROMOTER GROUP
|
Name of the
Shareholder |
Details of Shares
held |
Total shares (including
underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
||
|
CHIRAG PAREKH |
13,39,902 |
28.77 |
28.77 |
|
CHIRAG PAREKH |
3,21,044 |
6.89 |
6.89 |
|
ACRYCOL MINERALS LIMITED |
2,01,352 |
4.32 |
4.32 |
|
PUSHPA R PAREKH |
1,46,952 |
3.15 |
3.15 |
|
SHETAL CHIRAG PAREKH |
1,00,000 |
2.15 |
2.15 |
|
JATIN R PAREKH |
56,250 |
1.21 |
1.21 |
|
JATIN R PAREKH |
27,600 |
0.59 |
0.59 |
|
MALA M SANGHRAJKA |
7,500 |
0.16 |
0.16 |
|
ASHWIN M PAREKH |
750 |
0.02 |
0.02 |
|
Total |
22,01,350 |
47.26 |
47.26 |
SHAREHOLDING OF
SECURITIES (INCLUDING SHARES, WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS BELONGING
TO THE CATEGORY PUBLIC AND HOLDING MORE THAN 1% OF THE TOTAL NUMBER OF SHARES
|
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares (including
underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
|
SCHOCK AND CO GMBH |
452400 |
9.71 |
9.71 |
|
|
PIYUSH VRAJLAL MEHTA |
175350 |
3.76 |
3.76 |
|
|
MEHTA PIYUSH V |
71582 |
1.54 |
1.54 |
|
|
PARASKUMAR HARAKCHAND DAGA |
54770 |
1.18 |
1.18 |
|
|
VARUN DAGA |
52967 |
1.14 |
1.14 |
|
|
DINERO WEALTH ADVISORS PRIVATE LIMITED |
49546 |
1.06 |
1.06 |
|
|
Total |
856615 |
18.39 |
18.39 |
SHAREHOLDING OF SECURITIES (INCLUDING SHARES,
WARRANTS, CONVERTIBLE SECURITIES) OF PERSONS (TOGETHER WITH PAC) BELONGING TO
THE CATEGORY “PUBLIC” AND HOLDING MORE THAN 5% OF THE TOTAL NUMBER OF SHARES OF
THE COMPANY
|
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and
convertible securities) as a % of diluted share capital |
|
|
SCHOCK AND CO GMBH |
452400 |
9.71 |
9.71 |
|
|
Total |
452400 |
9.71 |
9.71 |
Details of Locked-in Shares
|
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as % of |
|
ACRYCOL MINERALS LIMITED |
2,00,000 |
4.29 |
|
Total |
2,00,000 |
4.29 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing and selling of kitchen sinks and appliances. |
|
|
|
|
Products : |
Kitchen sinks and appliances. |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS : NOT AVAILABLE
GENERAL INFORMATION
|
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 : |
|
|
Auditors : |
|
|
Name : |
Sanghavi and Company Chartered Accountants |
|
Address : |
Bhavnagar |
|
Tel. No.: |
|
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
Associates [AS ON
31.03.2014]: |
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Subsidiary
Companies [AS ON 31.03.2014]: |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.46.580 Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,508,000 |
Equity Shares |
Rs.10/- each |
Rs.45.080 Million |
Equity shares issued as fully paid up bonus shares or otherwise than by cash during the preceding five years: 1,486,000
Share Capital Reconciliation Equity Shares
|
Particulars |
31st March, 2014 |
|
|
|
No. of shares |
AMOUNT [Rs.in Million] |
|
Shares
outstanding at the beginning of the year |
4,458,000 |
44.580 |
|
Shares
issued during the year |
50,00 |
0.500 |
|
Shares
bought back during the year |
-- |
-- |
|
Shares
outstanding at the end of the year |
4,508,000 |
45.080 |
Shares held by each
shareholder holding more than five percent shares
|
Name of Shareholder |
31st March, 2014 |
|
|
|
No. of shares |
% of holding |
|
Chirag
A. Parekh |
1,735,946 |
38.51% |
|
Schock
& Co. GmbH |
452,400 |
10.03% |
|
Piyush
Vrajlal Mehta |
295,350 |
6.55% |
Rights, Preferences and Restrictions attached to Shares: Equity Shares
The Company has one class of equity shares having a face value of Rs.10 each ranking Pari Passu in all respects including voting rights and entitlement to dividend.
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 |
46.580 |
45.080 |
44.580 |
|
(b) Reserves & Surplus |
421.639 |
337.216 |
274.002 |
|
(c) Money received against
share warrants |
0.000 |
3.750 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
468.219 |
386.046 |
318.582 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
91.317 |
106.111 |
32.218 |
|
(b) Deferred tax liabilities
(Net) |
30.515 |
22.135 |
19.220 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.179 |
0.649 |
0.633 |
|
Total
Non-current Liabilities (3) |
123.011 |
128.895 |
52.071 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
376.116 |
225.245 |
217.183 |
|
(b) Trade payables |
113.809 |
122.672 |
100.544 |
|
(c) Other current liabilities |
109.919 |
70.784 |
39.861 |
|
(d) Short-term provisions |
42.488 |
33.645 |
33.932 |
|
Total
Current Liabilities (4) |
642.332 |
452.346 |
391.520 |
|
|
|
|
|
|
TOTAL |
1233.562 |
967.287 |
762.173 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
359.303 |
275.379 |
247.153 |
|
(ii) Intangible Assets |
0.000 |
2.939 |
0.828 |
|
(iii) Capital work-in-progress |
0.000 |
8.192 |
0.609 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
127.186 |
73.977 |
51.947 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
91.091 |
69.547 |
30.399 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
577.580 |
430.034 |
330.936 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
233.138 |
212.860 |
162.727 |
|
(c) Trade receivables |
275.645 |
243.885 |
200.577 |
|
(d) Cash and cash equivalents |
51.093 |
20.365 |
18.582 |
|
(e) Short-term loans and
advances |
96.106 |
60.143 |
49.351 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
655.982 |
537.253 |
431.237 |
|
|
|
|
|
|
TOTAL |
1233.562 |
967.287 |
762.173 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
1164.056 |
1037.095 |
784.493 |
|
|
Other Income |
11.211 |
7.662 |
8.051 |
|
|
TOTAL
|
1175.267 |
1044.757 |
792.544 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
279.391 |
325.532 |
267.557 |
|
|
Purchases of Stock-in-Trade |
106.596 |
162.967 |
81.828 |
|
|
Bought out items consumed |
72.134 |
0.000 |
0.000 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(3.313) |
(53.235) |
(26.106) |
|
|
Employees benefits expense |
81.607 |
69.832 |
68.565 |
|
|
Outward
& clearing charges |
64.138 |
0.000 |
0.000 |
|
|
Packing
material |
102.428 |
0.000 |
0.000 |
|
|
Power and Fuel |
38.290 |
0.000 |
0.000 |
|
|
Other expenses |
218.331 |
358.134 |
264.572 |
|
|
TOTAL
|
959.602 |
863.230 |
656.416 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
215.665 |
181.527 |
136.128 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
48.104 |
34.358 |
26.571 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
167.561 |
147.169 |
109.557 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
35.908 |
41.961 |
37.941 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
131.653 |
105.208 |
71.616 |
|
|
|
|
|
|
|
Less |
TAX |
36.870 |
25.397 |
16.570 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
94.783 |
79.811 |
55.046 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
739.884 |
(578.125) |
|
|
TOTAL
EARNINGS |
NA |
739.884 |
(578.125) |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
182.393 |
186.473 |
|
|
Packing
Material |
NA |
0.855 |
0.305 |
|
|
Components and Stores parts |
NA |
50.644 |
55.655 |
|
|
Stainless Steel Sink |
NA |
2.479 |
4.768 |
|
|
Foodwaste Disposer |
NA |
5.923 |
3.371 |
|
|
Faucets |
NA |
3.473 |
4.537 |
|
|
Engineering Stone |
NA |
0.000 |
0.000 |
|
|
Hod Hob Chimney |
NA |
76.589 |
11.884 |
|
|
Misc Traded Goods |
NA |
0.000 |
0.021 |
|
|
Capital Goods |
NA |
44.789 |
57.496 |
|
|
TOTAL
IMPORTS |
NA |
367.145 |
324.510 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
20.49 |
17.87 |
12.35 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
36.927 |
19.881 |
|
Cash generated from operations |
NA |
97.337 |
41.231 |
|
Net cash from operating activities |
NA |
68.282 |
29.414 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
8.14 |
7.70 |
7.02 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
18.53 |
17.50 |
17.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.90 |
11.89 |
10.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.27 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.00 |
0.86 |
0.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.19 |
1.10 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
Market Value |
Rs.701.00/- |
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 |
44.580 |
45.080 |
46.580 |
|
Reserves & Surplus |
274.002 |
337.216 |
421.639 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
318.582 |
382.296 |
468.219 |
|
|
|
|
|
|
long-term borrowings |
32.218 |
106.111 |
91.317 |
|
Short term borrowings |
217.183 |
225.245 |
376.116 |
|
Total borrowings |
249.401 |
331.356 |
467.433 |
|
Debt/Equity ratio |
0.783 |
0.867 |
0.998 |
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) |
|
Sales |
784.493 |
1037.095 |
1164.056 |
|
|
|
32.199 |
12.242 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
784.493 |
1037.095 |
1164.056 |
|
Profit |
55.046 |
79.811 |
94.783 |
|
|
7.02% |
7.70% |
8.14% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
Loans |
|
|
|
From Shareholders |
NA |
0.420 |
|
From Others |
NA |
41.400 |
|
Short-term
borrowings |
|
|
|
Loans |
|
|
|
From Shareholders |
NA |
0.000 |
|
From Others |
NA |
0.000 |
|
From a Subsidiary Company |
NA |
10.000 |
|
Total |
NA |
51.820 |
CONTINGENT
LIABILITIES [AS ON 31.03.2014]
• In respect of Excise Duty claim disputed by Excise Authorities: Rs.0.109 Million (Rs.0.109 Million)
• In respect of disputed Custom Duty Rs.6.231 Million (Rs.6.244 Million)
• In respect of corporate guarantees given by the company on behalf of a subsidiary company Rs.84.000 Million (Rs.62.500 Million)
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10553740 |
21/02/2015 |
20,000,000.00 |
YES BANK LIMITED |
102/103, C.G. Centre,, C.G. Road, Panchwati, Ahme |
C45944626 |
|
2 |
10532698 |
25/11/2014 |
470,700,000.00 |
Axis Bank Limited |
Trishul, 3rd Floor, Opposite Samartheshwar Temple, |
C34524181 |
|
3 |
10532754 |
25/11/2014 * |
165,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
Centre One Building, Floor 21,, World Trade Centr |
C34600643 |
|
4 |
10529741 |
14/10/2014 |
470,700,000.00 |
Axis Bank Limited |
Trishul, 3rd Floor, Opposite Samartheshwar Temple, |
C32694697 |
* Date of charge modification
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED AS ON 30.06.2015
(Rs. in million)
|
|
|
Particulars |
|
Quarter Ended |
|
|
|
|
|
|
|
30.06.2015 (Unaudited) |
|
1 |
Income from Operations |
|
|
|
|
|
|
a) Net Sales/Income from Operations (net of excise duty) |
|
|
340.968 |
|
|
|
b) Other Operating Income |
|
|
10.192 |
|
|
|
Total Income from Operations (Net) |
|
|
351.160 |
|
|
2 |
Expenses |
|
|
|
|
|
|
|
Cost of Materials consumed |
|
|
87.752 |
|
|
|
Purchase of stock in-trade |
|
|
32.578 |
|
|
|
Bought out items consumed |
|
|
23.852 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
|
|
3.078 |
|
|
|
Employee benefit expenses |
|
|
24.131 |
|
|
|
Outward freight and clearing expenses |
|
|
18.163 |
|
|
|
Depreciation and amortization expense |
|
|
10.633 |
|
|
|
Power and fuel |
|
|
9.533 |
|
|
|
Packing material |
|
|
29.160 |
|
|
|
Other
expenses |
|
|
63.152 |
|
|
Total Expenses |
|
|
302.032 |
|
|
3 |
|
Profit
/(Loss) from operations before other income, finance costs and exceptional
items (1-2) |
|
|
49.128 |
|
4 |
Other
Income |
|
|
2.478 |
|
|
5 |
|
Profit /(Loss)
from ordinary activities before finance costs and exceptional items (3+4) |
|
|
51.606 |
|
6 |
Finance
Costs |
|
|
12.820 |
|
|
7 |
|
Profit
/(Loss) from ordinary activities after finance costs but before exceptional
items (5-6) |
|
|
38.786 |
|
8 |
Exceptional
Items |
|
|
-- |
|
|
9 |
Profit /(Loss) from ordinary activities
before tax |
|
|
38.786 |
|
|
10 |
Tax
Expense |
|
|
|
|
|
|
Current |
|
|
12.250 |
|
|
|
Differed |
|
|
0.087 |
|
|
11 |
Net Profit /(Loss) from ordinary activities
after tax (9-10) |
|
|
26.449 |
|
|
12 |
Extraordinary
items (net of tax expense) |
|
|
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
|
|
26.449 |
|
|
14 |
Paid up
equity share capital (Eq. shares of
Rs.10/- each) |
|
|
46.580 |
|
|
15 |
Reserve
excluding revaluation reserves |
|
|
|
|
|
16 |
|
Earnings
per share (before/after extraordinary items) of Rs.10/- each |
|
|
|
|
|
|
Basic |
|
|
5.68 |
|
|
|
Diluted |
|
|
5.68 |
|
|
|||||
|
A |
|
PARTICULARS
OF SHAREHOLDING |
|
|
|
|
1 |
|
Public Shareholding |
|
|
|
|
|
|
- No. of
Shares |
|
|
2456650 |
|
|
|
-
Percentage of Shareholding |
|
|
52.74 |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
|
|
- Number of
shares |
|
|
-- |
|
|
|
-
Percentage of shares ( as a % of the total shareholding of the promoter and
promoter group) |
|
|
-- |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
|
|
-- |
|
|
|
b) Non-
encumbered |
|
|
|
|
|
|
- Number
of shares |
|
|
2201350 |
|
|
|
-
Percentage of shares ( as a % of the total shareholding of the promoter and
promoter group) |
|
|
100.00 |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
|
|
47.26 |
|
|
Particulars |
Quarter
ended 30.06.2015 |
|
|
B |
|
Investor
Complaints |
|
|
|
|
Pending at
the beginning of the quarter |
Nil |
|
|
|
Received
during the quarter |
05 |
|
|
|
Disposed
during the quarter |
05 |
|
|
|
Remaining
unresolved at the end of the quarter |
nil |
1. The
above results as reviewed by the Audit Committee have been approved at the
meeting of the Board of Directors held on 14.08.2015
- The Statutory Auditors of the Company have carried out a Limited Review of the above Results, as required under clause 41 of the Listing Agreement.
- 3. The
Company is engaged in Kitchen Sink business which is the only reportable
segment in accordance with the Accounting Standard, AS-17.
- The
other expenditure is standalone results include Rs.7.048 Million spent on
special brand and sales promotion campaign for the quarter ended on
30.06.2015
- Previous
period's figures have been regrouped or rearranged wherever necessary.
FIXED ASSETS
Tangible Assets
- Freehold Land
- Buildings
- Plant & Equipment
- Moulds and Dies
- Vehicles
- Furniture & Fixtures
- Office Equipment
Intangible Assets
- Computer Software
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 records 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.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
MNJ |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
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.