MIRA INFORM REPORT
|
Report No. : |
337516 |
|
Report Date : |
19.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHANKAR PACKAGINGS LIMITED |
|
|
|
|
Formerly Known
As : |
SHANKAR PACKAGINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, Turf Estate, Dr. E. Moses Road, Shakti Mills Lane, Mumbai –
400011, Maharashtra |
|
Tel. No.: |
91-22-24903225 / 24903228 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of Incorporation
: |
06.05.1985 |
|
|
|
|
Com. Reg. No.: |
11-036120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 28.050 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1985PLC036120 |
|
|
|
|
IEC No.: |
0388055847 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01961B / MUMS40482B / MUMS40819C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8076P FT001 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
of FIBC Bags. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was incorporated in the year 1985 and it is engaged in to manufacturing
FIBC bags. Subject is an established company having satisfactory track
record. For the financial year ended 2014, company possesses sound operational
performance and it has mentioned adequate profitability margins during a year
under a review. Rating also takes into consideration company’s established track
record of business operations backed by promoters extensive industry
experience in segment and sound financial base of the company. Trade relations are reported as fair. Payment terms are reported to be
usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 |
CRISIL |
|
Rating |
Long term rating=BBB+ (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.08.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating=A2 (Suspended) |
|
Rating Explanation |
Strong degree of safety and low credit risk.
|
|
Date |
13.08.2014 |
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. Pranab Mitra |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-9824408902 |
|
Date : |
18.08.2015 |
LOCATIONS
|
Registered / Corporate Office: |
303, Turf Estate, Dr. E. Moses Road, Shakti Mills Lane, Mumbai –
400011, Maharashtra, India |
|
Tel. No.: |
91-22-24903236/ 24903225/ 24903228 |
|
Mobile No.: |
91-9824408902 (Mr. Pranab Mitra) |
|
Fax No.: |
91-22-24903227 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory/ Sales Office : |
2-3-4-5-6, GIDC Estate, Vaghodia,
District: Vadodara – 391760, Gujarat, India |
|
Tel. No.: |
91-2668-262334/ 262434 |
|
Fax No.: |
91-2668-262833 |
|
|
|
|
Branch Office : |
(Hyderabad -
Marketing) 508, Maheshwari Chambers, Somajiguda, Hyderabad – 500082, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-40038828 |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Gaj Singh Jodhpur |
|
Designation : |
Director |
|
Address : |
Umaid Bhavan Palace, Jodhpur – 342006, Rajasthan, India |
|
Date of Birth/Age : |
13.01.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
27.02.1988 |
|
DIN No.: |
00061278 |
|
|
|
|
Name : |
Mr. Govind Shankar Pandya |
|
Designation : |
Director |
|
Address : |
A-5, Garibdas CHSL, N.S. Road No. 5, J.V.P.D. Scheme, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
19.03.1930 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.04.2008 |
|
DIN No.: |
00316822 |
|
PAN No.: |
AADPP9794R |
|
|
|
|
Name : |
Mr. Praveen Shankar Pratap Shankar Pandya |
|
Designation : |
Director |
|
Address : |
132/133, 13th Floor, D Building, Petit Hall 66, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1950 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
06.05.1985 |
|
DIN No.: |
00316843 |
|
|
|
|
Name : |
Mr. Rajeevshankar Anandshankar Pandya |
|
Designation : |
Additional Director |
|
Address : |
A-273-283, Kalpataru Horizon Tower, 28th Floor, S K Ahire Marg, Near Doordarshan, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1951 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
23.11.2013 |
|
DIN No.: |
01131603 |
|
|
|
|
Name : |
Mr. Anandshankar Revashankar Pandya |
|
Designation : |
Director |
|
Address : |
A-273-283, Kalpataru Horizon Tower, 28th Floor, S K Ahire Marg, Near Doordarshan, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
11.04.1923 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.06.1986 |
|
DIN No.: |
01163634 |
|
PAN No.: |
AAFPP4024N |
|
|
|
|
Name : |
Mr. Akshayshankar Pratapshankar Pandya |
|
Designation : |
Director |
|
Address : |
112-A, Paradise Apartments, 44, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
21.09.2010 |
|
DIN No.: |
01557239 |
|
|
|
|
Name : |
Mr. Vikramshankar Govindshankar Pandya |
|
Designation : |
Managing Director |
|
Address : |
A/5, Garib CHSL, N.S. Road, No.5, JVPD, Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
16.04.1961 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
09.04.2013 |
|
PAN No.: |
AGJPP9410C |
|
DIN No.: |
01595269 |
KEY EXECUTIVES
|
Name : |
Mr. Pranab Mitra |
|
Designation : |
Finance Controller |
|
|
|
|
Name : |
Mrs. Pranab Lalit Mitra |
|
Designation : |
Secretary |
|
Address : |
302, Usha Sadan Chsl,, Next To Bhavani Nagar, Marol Maroshi Road,, Mumbai, 400059, Maharashtra, India |
|
Date of Appointment : |
01.01.1986 |
|
PAN No.: |
AAFPM3756L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Praveen Shankar Pandya |
35547 |
|
Rajeev Shankar Pandya |
134500 |
|
Anand Shankar Pandya |
10000 |
|
Umaid Investment Company (Private) Limited, India |
690000 |
|
Govind Shankar Pandya |
147375 |
|
Vikram Shankar Pandya |
290905 |
|
Alka Rajeev Pandya |
31625 |
|
Namita Praveen Pandya |
29274 |
|
Urvashi B. Bhatt |
2185 |
|
Akshay Shankar Pandya |
34500 |
|
Ankur Jyoti Shankar Pandya |
120000 |
|
Saroj Pandya |
62360 |
|
Rati Pandya |
1572 |
|
Aparna Kulkarni |
5750 |
|
Manoj Selot |
5750 |
|
Sangeeta Pandya |
46000 |
|
Shivani Pandya |
34500 |
|
Shuchi Pandya |
34500 |
|
Avinash Pandya |
70437 |
|
Siddarth Pandya |
70437 |
|
Vivek Pandya |
65500 |
|
Shankar Securities (Private) Limited, India |
150000 |
|
Bulk Bags India Limited, India |
391100 |
|
Dolphin Investments Limited, India |
150600 |
|
Jyotishankar A. Pandya |
43125 |
|
Revashankar Gems Limited, India |
11250 |
|
Shankar Jewels Limited, India |
11250 |
|
Shankar Realty Private Limited, India |
22590 |
|
R.D. Pandya (HUF) |
650 |
|
Master Dhruv Akshay Pandya |
35938 |
|
Master Kashyap Akshay Pandya |
24438 |
|
Komal Goel |
41295 |
|
Total |
2804953 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2014
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
13.00 |
|
Bodies corporate |
21.00 |
|
Directors or relatives of Directors |
66.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of FIBC Bags. |
||||
|
|
|
||||
|
Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
|
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
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 : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· The Hongkong and Shanghai Banking Corporation Limited, 52/60 Mahatma Gandhi Road, Fort, Mumbai – 400 001, Maharashtra, India ·
Citibank N.A., Pelican, 2nd
Floor, Opposite Race Course Towers, Gotri Road, Vadodara – 390 007, Gujarat,
India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal Tower, 211, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFR1878D |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Joint venture : |
Lift Pack DOO |
|
|
|
|
Subsidiaries Company: |
· LC Shankar Pty Limited, Singapore · Shankarpack Poland Sp Zoo, Poland · Lift Pack Doo, Serbia ·
Shankar Europe BVBA, United Kingdom |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives : |
· Umaid Investment Company Private Limited, India CIN No.: U65993DL1981PTC012505 · Bulk Bags India Limited CIN No.: U70100MH1996PTC097400 |
CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2804953 |
Equity Shares |
Rs.10/- each |
Rs. 28.050 Millions |
|
|
|
|
|
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 |
28.050 |
28.050 |
28.050 |
|
(b) Reserves & Surplus |
840.810 |
699.693 |
572.433 |
|
(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) |
868.860 |
727.743 |
600.483 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
439.957 |
205.224 |
168.067 |
|
(b) Deferred tax liabilities (Net) |
69.646 |
64.387 |
52.052 |
|
(c) Other long term
liabilities |
9.273 |
5.919 |
58.272 |
|
(d) long-term
provisions |
14.183 |
12.009 |
9.999 |
|
Total Non-current
Liabilities (3) |
533.059 |
287.539 |
288.390 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
532.323 |
461.139 |
397.307 |
|
(b) Trade
payables |
95.090 |
114.798 |
89.692 |
|
(c) Other
current liabilities |
195.334 |
131.041 |
117.283 |
|
(d) Short-term
provisions |
95.123 |
73.344 |
45.584 |
|
Total Current
Liabilities (4) |
917.870 |
780.322 |
649.866 |
|
|
|
|
|
|
TOTAL |
2319.789 |
1795.604 |
1538.739 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
878.042 |
836.884 |
822.116 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
73.985 |
11.663 |
0.014 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
18.015 |
18.015 |
4.250 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
31.882 |
66.495 |
28.255 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1001.924 |
933.057 |
854.635 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
84.252 |
24.838 |
20.837 |
|
(b)
Inventories |
308.488 |
257.816 |
230.384 |
|
(c) Trade
receivables |
344.001 |
294.587 |
176.189 |
|
(d) Cash
and cash equivalents |
368.244 |
95.551 |
52.471 |
|
(e)
Short-term loans and advances |
167.002 |
138.416 |
172.462 |
|
(f) Other
current assets |
45.878 |
51.339 |
31.761 |
|
Total
Current Assets |
1317.865 |
862.547 |
684.104 |
|
|
|
|
|
|
TOTAL |
2319.789 |
1795.604 |
1538.739 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2512.601 |
2394.580 |
2044.261 |
|
|
|
Other Income |
8.992 |
9.874 |
6.460 |
|
|
|
TOTAL (A) |
2521.593 |
2404.454 |
2050.721 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1368.059 |
1260.311 |
1115.188 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(80.034) |
18.843 |
(33.271) |
|
|
|
Employees benefits expense |
204.970 |
158.561 |
112.310 |
|
|
|
Other expenses |
675.583 |
639.054 |
582.615 |
|
|
|
TOTAL (B) |
2168.578 |
2076.769 |
1776.842 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
353.015 |
327.685 |
273.879 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
43.173 |
49.905 |
43.132 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
309.842 |
277.780 |
230.747 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
72.311 |
68.325 |
51.976 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
237.531 |
209.455 |
178.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
88.209 |
74.045 |
54.426 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
149.322 |
135.410 |
124.345 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
2234.923 |
2091.550 |
1769.965 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
236.956 |
121.519 |
NA |
|
|
|
Components and Spare Parts |
25.353 |
10.485 |
NA |
|
|
|
Capital Goods |
11.953 |
12.122 |
NA |
|
|
TOTAL IMPORTS |
274.262 |
144.126 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
53.24 |
48.28 |
39.25 |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover |
|
|
3000.000 |
|
|
|
|
|
The above information has been parted by Mr. Pranab Mitra (Finance
Controller)
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
134.574 |
65.823 |
71.317 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
156.827 |
148.602 |
218.247 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.94 |
5.65 |
6.08 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
14.05 |
13.68 |
13.40 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.66 |
11.86 |
11.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27 |
0.29 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.27 |
1.01 |
1.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44 |
1.11 |
1.05 |
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 |
28.050 |
28.050 |
28.050 |
|
Reserves & Surplus |
572.433 |
699.693 |
840.810 |
|
Net
worth |
600.483 |
727.743 |
868.860 |
|
|
|
|
|
|
long-term borrowings |
168.067 |
205.224 |
439.957 |
|
Short term borrowings |
397.307 |
461.139 |
532.323 |
|
Current Maturities of
Long-Term Debts |
71.317 |
65.823 |
134.574 |
|
Total
borrowings |
636.691 |
732.186 |
1106.854 |
|
Debt/Equity
ratio |
1.060 |
1.006 |
1.274 |
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 |
2044.261 |
2394.580 |
2512.601 |
|
|
|
17.137 |
4.929 |
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 |
2044.261 |
2394.580 |
2512.601 |
|
Profit |
124.345 |
135.410 |
149.322 |
|
|
6.08% |
5.65% |
5.94% |
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 |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
Yes |
|
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 |
NOTE: The Registered address of the company has been shifted
from A-4, Purshottam Buildings, Opera House, Mumbai, Maharashtra, India to
present address w.e.f. 13.04.2008
OPERATING RESULTS AND
BUSINESS
The gross turnover of the company for the year increased to Rs. 2531.500 Million which is a quantum jump of nearly 5% over the previous year. In tune with increased sales, the profit after tax of the company has gone up from 135.4 Million to 149.300 Million. The total capacity of the company as on date is 15470 MT per annum. The actual capacity utilization have been 14426 MT which reflects the capacity utilization of up to 93.25%. The business environment of the company continues to remain favorable barring developments in the global environment.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from shareholders (Repayable after a period of 5 years) |
5.252 |
6.229 |
|
Intercorporate deposits (Repayable after a period of 5 years) |
6.509 |
4.253 |
|
Total |
11.761 |
10.482 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10478991 |
31/12/2013 |
50,000,000.00 |
CITIBANK N. A. |
Pelican, 2nd floor, Opp Race Course Towers,, Gotri Road, Vadodara,
Baroda, Gujarat - 390007, INDIA |
B96955760 |
|
2 |
10478992 |
31/12/2013 |
300,000,000.00 |
CITIBANK N. A. |
Pelican, 2nd floor, Opp Race Course Towers,, Gotri Road, Vadodara,
Baroda, Gujarat - 390007, INDIA |
B96956149 |
|
3 |
10062886 |
09/01/2014 * |
1,473,000,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MA |
B94021383 |
|
4 |
90210878 |
08/08/1996 * |
50,013,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
5 |
90215987 |
15/12/1995 |
50,013,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, MUMBAI, Maharashtra - 400023, INDIA |
- |
|
6 |
90212351 |
18/03/1993 |
4,348,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
7 |
90212300 |
30/11/2006 * |
300,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FIANANCE BRANCH, 'THE ARCADE',, 2ND FL |
- |
|
8 |
90236969 |
31/10/2005 * |
33,263,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
9 |
90212136 |
24/12/1990 |
13,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, MUMB |
- |
|
10 |
90211883 |
13/02/1989 |
12,000,000.00 |
STATE BANK OF INDIA |
COMERCIAL BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
|
Claims against company not acknowledged as debt |
3.647 |
1.047 |
|
Other money for which company is contingently liable |
125.649 |
187.551 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Vehicles
· Motor Vehicles
· Office Equipment
· Other Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON DESIGNATED
PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.22 |
|
|
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.