MIRA INFORM REPORT
|
Report No. : |
337941 |
|
Report Date : |
25.08.2015 |
IDENTIFICATION DETAILS
|
Name : |
RAMARAJU SURGICAL COTTON MILLS LIMITED |
|
|
|
|
Registered
Office : |
119, P.A.C. Ramasamy Raja Salai, Post Box No. 2, Rajapalayam – 626117, Tamilnadu |
|
Tel. No.: |
91-4563-235904 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.02.1939 |
|
|
|
|
Com. Reg. No.: |
18-002302 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.733 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17111TN1939PLC002302 |
|
|
|
|
IEC No.: |
0488021502 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4308D |
|
|
|
|
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 primarily in the production of cotton yarn and surgical products
(viz., absorbent cotton wool, gauze and bandages, plaster of Paris and
plaster of Paris bandages. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behavior : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Ramco Group (viz., Rajapalayam Mills Limited
(RML), it was incorporated on 20th February, 1939 it is an
established company having satisfactory track record. The rating consider on the company’s established market presence,
diversified product portfolio, rich experience of the promoters in the
industry and the financial flexibility enjoyed by virtue of being a part of
the “Ramco Group”. Rating further take consideration on company improved operation as
well as financial performance, profit margin and moderate track protection
metrics. Rating are constrained on company by the low pricing flexibility,
vulnerable to industry downturns, increase in raw material prices and modest
debt coverage to meet its obligations. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. In view of long established track record backed by vast experienced
promoter base, the company can be considered normal for business dealing at
its 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 – 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 |
ICRA |
|
Rating |
Long term Bank Facilities = BB- |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
February 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term Bank Facilities = A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February 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. Poosapadi Rajendra Raja Ramasubramanian |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-866-2572693 / 2422192 |
|
Date : |
24.08.2015 |
LOCATIONS
|
Registered Office : |
119, P.A.C. Ramasamy Raja Salai, Post Box No. 2, Rajapalayam – 626117, Tamilnadu, India |
|
Tel. No.: |
91-4563-235904 |
|
Fax No.: |
91-4563-235714 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Corporate Office: |
11-28, 78/E, Bhavnarayana Street, Vijayawada – 520001, Andhra Pradesh,
India |
|
|
|
|
Sales Depots : |
Chennai Sales Depot, 6, Balaraman Street, Krishna Nagar Annex, Alappakkam Main Road, Chennai - 600095, Tamilnadu, India |
|
Tel. No.: |
91- 44 23861051 |
|
Fax No.: |
91-44 23861061 |
|
|
|
|
Goodown : |
26-9-18/B, Ramarao Street, Gandhi Nagar, Vijayawada - 520003, Andhra Pradesh, India |
|
Tel. No.: |
91-866-2572693 |
|
Fax No.: |
91-866 -2570673 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Santhana Raman Vaidyanathan |
|
Designation : |
Director |
|
Address : |
N0 6, Sridevi Colony, Near 7th Avenue, Ashok Nagar, Chennai - 600083, Tamilnadu, India |
|
Date of Birth/Age : |
06.08.1949 |
|
Date of Appointment : |
25.05.2014 |
|
DIN No.: |
00212334 |
|
|
|
|
Name : |
Mr. Poosapadi Ramasamy Raja Ramasubrahmaneya Rajha |
|
Designation : |
Director |
|
Address : |
Ramamandiram, Rajapalayam - 626117, Tamilnadu, India |
|
Date of Birth/Age : |
04.07.1935 |
|
Date of Appointment : |
19.03.1956 |
|
Election Commission Identity Card No. |
TN/35/209/021/3352 |
|
DIN No.: |
00331357 |
|
|
|
|
Name : |
Mr. Venketrama Raja Poosapadi Ramasubrahmaneya Rajha |
|
Designation : |
Director |
|
Address : |
Ramamandiram, Tenkasi Road, Rajapalayam - 626117, Tamilnadu, India |
|
Date of Birth/Age : |
14.05.1959 |
|
Date of Appointment : |
04.03.1992 |
|
DIN No.: |
00331406 |
|
|
|
|
Name : |
Mr. Nambur Krishnama Raja Shrikantan Raja |
|
Designation : |
Director |
|
Address : |
Sri Bhavanam, P.S.K Nagar, Rajapalayam - 626108, Tamilnadu, India |
|
Date of Birth/Age : |
20.07.1948 |
|
Date of Appointment : |
15.04.2002 |
|
DIN No.: |
00350693 |
|
|
|
|
Name : |
Mr. Poosapaadi Alaga Raja Jaganatharaja |
|
Designation : |
Director |
|
Address : |
Door No.48, P.S.K Nagar, Rajapalayam, Virudhunagar - 626108, Tamilnadu, India |
|
Date of Birth/Age : |
20.04.1946 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
00446057 |
|
|
|
|
Name : |
Mr. Poosapadi Jagadeeswara Raja Ramkumar Rajha |
|
Designation : |
Director |
|
Address : |
D.No.90A 1/1, P.S.K. Nagar, Rajapalayam - 626117, Tamilnadu, India |
|
Date of Birth/Age : |
19.11.1961 |
|
Date of Appointment : |
25.05.2014 |
|
DIN No.: |
00487193 |
|
|
|
|
Name : |
Mr. Sinthalapadi Narayanaraja Rama Raju |
|
Designation : |
Director |
|
Address : |
100A PSK Nagar, Rajapalaiyam - 626108, Tamilnadu, India |
|
Date of Birth/Age : |
30.06.1935 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
01115384 |
|
|
|
|
Name : |
Mr. Kanthimathinathan Subramanian |
|
Designation : |
Director |
|
Address : |
Old No.12, 3A, Jubli Road, Ilanji Po, Tenkasi Taluk - 627805, Tamilnadu, India |
|
Date of Birth/Age : |
01.10.1942 |
|
Date of Appointment : |
06.08.2008 |
|
DIN No.: |
01124581 |
|
|
|
|
Name : |
Nalina Ramalakshmi |
|
Designation : |
Managing Director |
|
Address : |
A.O, 3rd Sri Renga Vihar, New-8, 1st Cross Street, Karpagam, Adyar, Chennai- 600020, Tamilnadu, India |
|
Date of Birth/Age : |
10.05.1963 |
|
Date of Appointment : |
01.04.2014 |
|
DIN No.: |
01364161 |
|
|
|
|
Name : |
Posapadi Perumal Subharao Janardhanaraja |
|
Designation : |
Director |
|
Address : |
Old No:7, New No: 13, Flat No: GB, Ponmari Towers, Montieth Lane, Egmore, Chennai - 600008, Tamilnadu, India |
|
Date of Birth/Age : |
21.01.1951 |
|
Date of Appointment : |
25.05.2014 |
|
DIN No.: |
06702871 |
|
|
|
|
Name : |
Mr. Muthukrishnan Sridharan |
|
Designation : |
Nominee Director |
|
Address : |
33, North Maharajapuram Street, Aruppukottai - 626101, Tamilnadu, India |
|
Date of Appointment : |
12.05.2015 |
|
DIN No.: |
07188379 |
KEY EXECUTIVES
|
Name : |
Mr. Ayyanar Emarajan |
|
Designation : |
Company Secretary |
|
Address : |
84/41, Kammapatti Street, Srivilliputtur - 626125, Tamilnadu, India |
|
PAN No : |
AAPPE3662D |
|
Date of Appointment : |
15.10.2014 |
|
|
|
|
Name : |
Mr. Poosapadi Rajendra Raja Ramasubramanian |
|
Designation : |
Chief Finance Officer |
|
Address : |
Old No 404 A, New No.450, Singarajakottai Street, Rajapalayam - 626117, Tamilnadu, India |
|
PAN No : |
AIDPR7226A |
|
Date of Appointment : |
25.05.2014 |
MAJOR SHAREHOLDERS
AS ON 04.08.2014
SHAREHOLDING FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 04.08.2014
|
Category |
Percentage |
|
Government (Central and State) |
2.20 |
|
Nationalized or other banks |
0.01 |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companies (s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
0.06 |
|
Bodies corporate |
0.70 |
|
Directors or relatives of Directors |
48.00 |
|
Other top fifty shareholders |
25.00 |
|
Others |
24.03 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is primarily in the production of cotton yarn and surgical products (viz., absorbent cotton wool, gauze and bandages, plaster of Paris and plaster of Paris bandages. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
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 : |
State Bank of India, Commercial Branch, Sankarankovil Road, Rajapalayam - 626117, Tamilnadu, India
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Facilities : |
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Auditors : |
|
|
Name : |
M.S. Jagannathan and N. Krishnaswami Chartered Accountants |
|
Address : |
Unit 5, Ground Floor, Abirami Apartments,No.14, V.O.C. Road, Cantonment, Tiruchirappalli – 620001, Tamil Nadu, India |
|
PAN. No.: |
AADFM3546J |
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Memberships : |
----- |
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Collaborators : |
----- |
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|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives: |
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|
|
|
Public Trusts: |
|
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, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1973280 |
Equity Shares |
Rs.10/- each |
Rs. 19.733 Million |
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 |
19.733 |
19.733 |
19.733 |
|
(b) Reserves &
Surplus |
547.273 |
387.615 |
169.036 |
|
(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) |
567.006 |
407.348 |
188.769 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
813.677 |
1089.314 |
1417.504 |
|
(b) Deferred tax
liabilities (Net) |
271.261 |
172.090 |
96.174 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
32.796 |
28.289 |
17.582 |
|
Total Non-current
Liabilities (3) |
1117.734 |
1289.693 |
1531.260 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1068.322 |
598.910 |
529.712 |
|
(b) Trade payables |
84.012 |
58.485 |
30.640 |
|
(c) Other current
liabilities |
384.068 |
386.462 |
334.486 |
|
(d) Short-term provisions |
90.666 |
71.205 |
79.544 |
|
Total Current Liabilities
(4) |
1627.068 |
1115.062 |
974.382 |
|
|
|
|
|
|
TOTAL |
3311.808 |
2812.103 |
2694.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1836.305 |
1923.830 |
2014.029 |
|
(ii) Intangible Assets |
1.060 |
2.623 |
4.281 |
|
(iii) Capital work-in-progress |
0.688 |
7.002 |
6.255 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
112.918 |
22.042 |
22.071 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
13.658 |
17.480 |
21.288 |
|
(e) Other Non-current
assets |
155.880 |
101.319 |
0.000 |
|
Total Non-Current Assets |
2120.509 |
2074.296 |
2067.924 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
682.511 |
365.960 |
267.507 |
|
(c) Trade receivables |
306.721 |
246.515 |
211.334 |
|
(d) Cash and cash
equivalents |
9.724 |
14.013 |
18.783 |
|
(e) Short-term loans and
advances |
122.017 |
73.427 |
68.082 |
|
(f) Other current assets |
70.326 |
37.892 |
60.781 |
|
Total Current Assets |
1191.299 |
737.807 |
626.487 |
|
|
|
|
|
|
TOTAL |
3311.808 |
2812.103 |
2694.411 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2667.365 |
2379.782 |
1961.086 |
|
|
Other Income |
111.644 |
17.793 |
26.347 |
|
|
TOTAL
(A) |
2779.009 |
2397.575 |
1987.433 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1291.851 |
1090.072 |
1104.045 |
|
|
Purchases of Stock-in-Trade |
123.775 |
1.599 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(89.284) |
(4.104) |
121.240 |
|
|
Employees benefits expense |
215.556 |
194.031 |
152.186 |
|
|
Other expenses |
565.294 |
516.352 |
373.644 |
|
|
TOTAL
(B) |
2107.192 |
1797.950 |
1751.115 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
671.817 |
599.625 |
236.318 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
189.808 |
218.392 |
245.225 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
482.009 |
381.233 |
-8.907 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
216.254 |
139.678 |
142.353 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
265.755 |
241.555 |
(151.260) |
|
|
|
|
|
|
|
Less |
TAX (H) |
99.171 |
16.088 |
(49.498) |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
166.584 |
225.467 |
(101.762) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.579 |
NA |
NA |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
160.000 |
200.000 |
NA |
|
|
Dividend |
5.920 |
4.933 |
NA |
|
|
Tax on Final Dividend |
0.000 |
0.168 |
NA |
|
|
Tax on Dividend |
1.006 |
0.800 |
NA |
|
|
Balance
Carried to the B/S |
18.237 |
18.579 |
NA |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
84.42 |
114.26 |
(5.157) |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
328.900 |
318.586 |
290.432 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operating activities |
60.272 |
514.082 |
705.074 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
6.25 |
9.47 |
-5.19 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
25.19 |
25.20 |
12.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.31 |
8.68 |
-5.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.59 |
-0.80 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.90 |
4.93 |
11.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.73 |
0.66 |
0.64 |
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 |
19.733 |
19.733 |
19.733 |
|
Reserves & Surplus |
169.036 |
387.615 |
547.273 |
|
Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
188.769 |
407.348 |
567.006 |
|
|
|
|
|
|
long-term borrowings |
1417.504 |
1089.314 |
813.677 |
|
Short term borrowings |
529.712 |
598.910 |
1068.322 |
|
Current maturities of
long-term debts |
290.432 |
318.586 |
328.900 |
|
Total borrowings |
2237.648 |
2006.810 |
2210.899 |
|
Debt/Equity ratio |
11.854 |
4.927 |
3.899 |
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 |
1961.086 |
2379.782 |
2667.365 |
|
|
|
21.350 |
12.084 |
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 |
1961.086 |
2379.782 |
2667.365 |
|
Profit |
(101.762) |
225.467 |
166.584 |
|
|
(5.19%) |
9.47% |
6.25% |
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 |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
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 |
FINANCIAL RESULTS
The financial results for the year ended 31st March, 2014, after charging all expenses and contribution to Ramaraju Memorial Fund of Rs.7.400 Million (which is within the limits laid in the Articles of Association) but before deducting finance cost and depreciation have resulted in operating profit of Rs.671.817 Million against Rs.599.625 Million for the previous financial year 2012-13.
After deducting Rs.189.808 Million towards finance cost and providing Rs.216.254 Million towards Depreciation, the Net profit for the year is Rs.265.755 Million as against Net profit of Rs.241.555 Million for the previous year. Adding the surplus of Rs.18.579 Million brought forward from the previous year, the Directors propose to appropriate the total sum of Rs.284.334 Million.
UNSECURED LOAN
|
PARTICULARS |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
Short-term
borrowing |
|
|
|
Loans repayable on demand |
155.555 |
0.000 |
|
Public deposits |
38.364 |
1.860 |
|
Loans and advances from related parties |
14.617 |
10.440 |
|
Other loans and advances |
0.038 |
0.038 |
|
Total |
208.574 |
12.338 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10567824 |
16/03/2015 |
150,000,000.00 |
TAMILNAD MERCANTILE BANK
LIMITED |
391, Aiswarya Complex,
Tenkasi Road, Rajapalayam - 626117, Tamil Nadu, INDIA |
C52887585 |
|
2 |
10457800 |
21/09/2013 |
80,000,000.00 |
The Karur Vysya Bank
Limited |
Whites Road Branch, No.37
Whites Road, Chennai - 600014, Tamil Nadu, INDIA |
B88624846 |
|
3 |
10321895 |
14/11/2011 |
200,000,000.00 |
TAMILNAD MERCANTILE BANK
LIMITED |
391, AISWARYA COMPLEX,
TENKASI ROAD, RAJAPALAYAM – 626117, Tamil Nadu, INDIA |
B27283241 |
|
4 |
10312136 |
23/09/2011 |
128,000,000.00 |
INDIAN BANK |
THOUSAND LIGHTS BRANCH,
KANNAMMAI BUILDING, 611 ANNA SALAI, CHENNAI - 600006, Tamil Nadu, INDIA |
B23246879 |
|
5 |
10312139 |
23/09/2011 |
200,000,000.00 |
INDIAN BANK |
THOUSAND LIGHTS BRANCH,
KANNAMMAI BUILDING, 611 ANNA SALAI, CHENNAI - 600006, Tamil Nadu, INDIA |
B23247349 |
|
6 |
10303447 |
01/08/2011 |
350,000,000.00 |
TAMILNAD MERCANTILE BANK LIMITED |
57,VICTORIA EXTENSION
ROAD, THOOTHUKUDI - 628002, TamilNadu, INDIA |
B19273234 |
|
7 |
10243873 |
28/09/2010 |
108,000,000.00 |
INDIAN BANK |
THOUSAND LIGHTS BRANCH,
KANNAMMAI BUILDINGS, NO.6 |
A96530670 |
|
8 |
10229495 |
06/02/2013 * |
3,381,700,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
SANKARANKOIL ROAD, RAJAPALAYAM -
626117, Tamil Nadu, INDIA |
B69151199 |
|
9 |
10198709 |
05/02/2010 |
200,000,000.00 |
3i Infotech Trusteeship Services
Limited |
3rd to 6th floor,
International Infotech Park,, Tower No.5, Vashi Railway Station Complex,
Vashi, Navi Mumbai - 400703, Maharashtra, INDIA |
A78115565 |
|
10 |
10086303 |
03/06/2011 * |
240,000,000.00 |
IDBI BANK LTD |
LIC BUILDING, FIRST FLOOR,
NO3 WEST MARRET STREET, MADURAI - 625001, Tamil Nadu, INDIA |
B14870745 |
* Date of charge modification
FIXED ASSETS
Tangible assets
- Land
- Buildings
- Plant and Equipment
- Furniture and Fixtures
- Vehicles
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 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. 66.51 |
|
|
1 |
Rs. 104.01 |
|
Euro |
1 |
Rs. 76.27 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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
unfavorable 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.