MIRA INFORM REPORT
|
Report No. : |
354246 |
|
Report Date : |
16.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDUSS FOOD PRODUCTS AND EQUIPMENTS LIMITED |
|
|
|
|
Formerly Known
As : |
CONSOLIDATED EQUIPMENTS (INDIA) LIMITED |
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|
|
Registered
Office : |
238/B, A J C Bose Road, 3rd Floor, Kolkata – 700020, West Bengal |
|
Tel. No.: |
91-33-22878503/ 9266/ 1962/ 22802743 |
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|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
26.05.1987 |
|
|
|
|
Com. Reg. No.: |
21-031664 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 8.500
Million |
|
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|
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CIN No.: [Company Identification
No.] |
L35204WB1987PLC031664 |
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|
|
IEC No.: |
Not Divulged |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALI00295B |
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|
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PAN No.: [Permanent Account No.] |
AAACI7443N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer and Processor of Parboiling and Drying Equipments. [Indirect Sources] |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 290000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject was established in the year 1987 and it is engaged in
manufacturing parboiling and drying equipment. It products include
centrifugal blower, steam heat exchanger, digital grain moisture meter, silo
and inline moisture meter for paddy drier. For the financial year ended 2014, company has reported 56.69% revenue
growth as compared to previous year revenue and it has maintained average
profitability margins at 5.20% during the year under review. Rating takes into consideration company’s established track record of
business operations supported by its satisfactory financial profile along
with favorable gap between trade payables to its receivables and sound debt
coverage indicators. Trade relations are reported as fair. Payments are reported to be regular
and as per commitment. The company can be considered good for normal 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.
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
NOT AVAILABLE
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
31-03-2015.
LOCATIONS
|
Registered Office : |
238/B, A J C Bose Road, 3rd Floor, Kolkata – 700020, West Bengal,
India |
|
Tel. No.: |
91-33-22878503/ 9266/ 1962/ 22802743 |
|
Fax No.: |
91-33-22871874/ 8246 |
|
E-Mail : |
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|
Website : |
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Branch Offices : |
Located at: · Burdwan · Tamilnadu · Haryana · Karnataka · Punjab · Maharashtra · Uttar Pradesh · Andhra Pradesh · Gujarat · Orissa · Chhattisgarh ·
Jharkhand |
DIRECTORS
AS ON 30.09.2014
|
Name : |
Shanti Swarup Aggarwal |
|
Designation : |
Managing director and Chief Executive Officer |
|
Address : |
Flat-12, Tivoli Court, 1A, Ballygunge Circular Road, Kolkata - 700019, West Bengal, India |
|
Date of Birth/Age : |
05.09.1951 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
26.05.1987 |
|
DIN No.: |
00322011 |
|
|
|
|
Name : |
Mr. Nandan Kumar Basu |
|
Designation : |
Director |
|
Address : |
Chotonilpur Road, Burdwan - 713103, West Bengal, India |
|
Date of Birth/Age : |
06.11.1948 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.01.2010 |
|
DIN No.: |
02449375 |
|
|
|
|
Name : |
Mr. Sohanlal Chopra |
|
Designation : |
Director |
|
Address : |
15, Nafar Chandra Das Road, Behala, Kolkata-700034, West
Bengal, India |
|
Date of Birth/Age : |
14.04.1939 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
03.12.2010 |
|
DIN No.: |
03183091 |
|
|
|
|
Name : |
Sadhana Agarwal |
|
Designation : |
Director |
|
Address : |
1A Ballygunge Circular Road, P.O.-Ballygunge, Kolkata -
700019, West Bengal, India |
|
Date of Appointment : |
20.11.2014 |
|
PAN No.: |
ACVPA8662K |
|
DIN No.: |
02239529 |
|
|
|
|
Name : |
Tapan Kumar Chakraborty |
|
Designation : |
Director |
|
Address : |
P-753, Flat No. 2B, Laketown, Block - A, Kolkata - 700089,
West Bengal, India |
|
Date of Appointment : |
20.11.2014 |
|
DIN No.: |
06676727 |
KEY EXECUTIVES
|
Name : |
Swapan Kumar Majumder |
|
Designation : |
Chief Financial Officer |
|
Address : |
3/C, Hind Road New Santoshpur, P.O. Santoshpur, Kolkata -
700075, West Bengal, India |
|
Date of Appointment : |
02.03.2015 |
|
PAN No.: |
AJFPM3820L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 30.09.2014
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
6.12 |
|
Directors
or relatives of directors |
66.82 |
|
Other
top fifty shareholders |
27.06 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Processor of Parboiling and Drying Equipments. [Indirect Sources] |
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Products : |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS (AS ON 31.03.2014)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
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|
|
|
|
|
|
Rice Mill Machineries |
Pcs. |
193 |
NA |
175 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
· Andhra Bank Chowringhee Branch, 58, Chowringhee Road, Kolkata - 700071, West Bengal, India
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
Chopra and Company Chartered Accountants |
|
Address : |
133, Canning Street, Kolkata – 700001, West Bengal, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFC1527A |
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Memberships : |
-- |
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Collaborators : |
-- |
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Entities over which
Key management personnel and their relatives have significant Influence : |
· Industrial Sales and Services · Prestige Icecream Private limited · Ovobel Foods Limited · Lick and Bite |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 20.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
850,000 |
Equity Shares |
Rs. 10/- each |
Rs. 8.500
Million |
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|
|
|
|
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 |
8.500 |
8.500 |
8.500 |
|
(b) Reserves & Surplus |
93.200 |
53.034 |
38.481 |
|
(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) |
101.700 |
61.534 |
46.981 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4.787 |
4.435 |
4.629 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
4.787 |
4.435 |
4.629 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
36.072 |
27.318 |
49.087 |
|
(b)
Trade payables |
51.803 |
78.446 |
84.490 |
|
(c)
Other current liabilities |
91.941 |
66.468 |
41.022 |
|
(d)
Short-term provisions |
26.093 |
8.579 |
2.202 |
|
Total
Current Liabilities (4) |
205.909 |
180.811 |
176.801 |
|
|
|
|
|
|
TOTAL |
312.396 |
246.780 |
228.411 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
51.784 |
51.159 |
54.565 |
|
(ii)
Intangible Assets |
2.671 |
3.168 |
2.064 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
9.978 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
9.944 |
9.978 |
0.000 |
|
Total
Non-Current Assets |
64.399 |
64.305 |
66.607 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
51.849 |
78.723 |
58.965 |
|
(c)
Trade receivables |
110.197 |
62.652 |
62.663 |
|
(d)
Cash and cash equivalents |
20.367 |
3.680 |
6.781 |
|
(e)
Short-term loans and advances |
65.584 |
37.420 |
33.395 |
|
(f)
Other current assets |
0.000 |
0.000 |
|
|
Total
Current Assets |
247.997 |
182.475 |
161.804 |
|
|
|
|
|
|
TOTAL |
312.396 |
246.780 |
228.411 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
952.728 |
608.074 |
475.497 |
|
|
|
Other Income |
15.203 |
4.742 |
6.788 |
|
|
|
TOTAL (A) |
967.931 |
612.816 |
482.285 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
686.743 |
414.045 |
349.449 |
|
|
|
Purchases of Stock-in-Trade |
29.506 |
43.819 |
24.494 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
4.264 |
(3.845) |
1.246 |
|
|
|
Employees benefits expense |
86.633 |
58.174 |
43.614 |
|
|
|
Other expenses |
96.996 |
72.651 |
49.661 |
|
|
|
TOTAL (B) |
904.142 |
584.844 |
468.464 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
63.789 |
27.972 |
13.821 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.225 |
3.907 |
5.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
62.564 |
24.065 |
8.791 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.531 |
3.330 |
2.936 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
58.033 |
20.735 |
5.855 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.866 |
6.183 |
1.881 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
40.167 |
14.552 |
3.974 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales (on FOB Value) |
364.714 |
260.076 |
84.509 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Moisture Meter |
1.267 |
1.334 |
|
|
|
|
Rice Polisher, Spare Parts & Others |
28.239 |
38.939 |
|
|
|
TOTAL IMPORTS |
29.506 |
40.273 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
47.25 |
17.12 |
4.68 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.000 |
0.000 |
NA |
|
|
|
|
|
|
Cash generated from operations |
NA |
NA |
NA |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
33.311 |
28.905 |
5.839 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.22 |
2.39 |
0.84 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
6.70 |
4.60 |
2.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.58 |
8.40 |
2.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.57 |
0.34 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.35 |
0.44 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20 |
1.01 |
0.92 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
8.500 |
8.500 |
8.500 |
|
Reserves & Surplus |
38.481 |
53.034 |
93.200 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
46.981 |
61.534 |
101.700 |
|
|
|
|
|
|
Long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
49.087 |
27.318 |
36.072 |
|
Total
borrowings |
49.087 |
27.318 |
36.072 |
|
Debt/Equity ratio |
1.045 |
0.444 |
0.355 |
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 |
475.497 |
608.074 |
952.728 |
|
|
|
27.882 |
56.680 |
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 |
475.497 |
608.074 |
952.728 |
|
Profit |
3.974 |
14.552 |
40.167 |
|
|
0.84% |
2.39% |
4.22% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
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) |
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10391617 |
16/11/2012 |
23,200,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE BRANCH,
KOLKATA, WEST BENGAL - 700071, INDIA |
B63988976 |
|
2 |
10368342 |
22/06/2012 |
23,200,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
B44822419 |
|
3 |
10346446 |
13/02/2012 |
10,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
B36628568 |
|
4 |
10291273 |
21/05/2011 |
8,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
B14659304 |
|
5 |
10192448 |
16/11/2009 |
30,000,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
A76119676 |
|
6 |
10133757 |
24/11/2008 |
2,130,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD, KOLKATA,
WEST BENGAL - 700071, INDIA |
A52843869 |
|
7 |
10098272 |
27/03/2008 |
4,800,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
A36270882 |
|
8 |
10076014 |
12/10/2007 |
16,971,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, |
A26635649 |
|
9 |
10066684 |
23/08/2007 |
3,400,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58,CHOWRINGHEE ROAD,
KOLKATA, |
A22509616 |
|
10 |
10058579 |
31/01/2015 * |
17,500,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
C48329361 |
|
11 |
90255434 |
18/03/2014 * |
41,200,000.00 |
ANDHRA BANK |
CHOWRINGHEE BRANCH, 58, CHOWRINGHEE ROAD,
KOLKATA, WEST BENGAL - 700071, INDIA |
C04724951 |
|
12 |
90256645 |
29/04/2005 |
13,500,000.00 |
WEST BENGAL FINANCIAL CORPORATION |
12A;NETAJI SUBHAS ROAD, KOLKATA, WEST
BENGAL - 700001, INDIA |
- |
|
13 |
90255176 |
10/06/2003 |
1,000,000.00 |
ANDHRA BANK |
58; CHOWRINGHEE ROAD, CALCUTTA, WEST BENGAL
- 700071, INDIA |
- |
|
14 |
90255175 |
02/06/2003 |
19,000,000.00 |
ANDHRA BANK |
58; CHOWRINGHEE ROAD, CALCUTTA, WEST BENGAL
- 700071, INDIA |
- |
|
15 |
90255151 |
07/01/2003 |
2,500,000.00 |
ANDHRA BANK |
58; CHOWRINGHEE ROAD, CALCUTTA, WEST BENGAL
- 700071, INDIA |
- |
|
16 |
90255145 |
13/12/2002 |
2,000,000.00 |
ANDHRA BANK |
58; CHOWRINGHEE ROAD, CALCUTTA, WEST BENGAL
- 700071, INDIA |
- |
|
17 |
90254036 |
13/06/2001 |
1,672,560.00 |
MAGMA LEASING LIMITED |
MAGNA HOUSE, 24; PARK STREET, KOLKATA, WEST
BENGAL - 700016, INDIA |
- |
|
18 |
90255904 |
16/10/1998 |
16,316,000.00 |
ANDHRA BANK |
58; CHOWRINGHEE ROAD, CALCUTTA, WEST BENGAL
- 700071, INDIA |
- |
|
19 |
90255603 |
04/11/1991 * |
1,975,000.00 |
WEST BENGAL FINANCIAL CORPORATION |
12A; NETAJI SUBHAS ROAD, CALCUTTA, WEST
BENGAL - 700001, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
0.500 |
|
|
|
|
|
Total |
0.000 |
0.500 |
PERFORMANCE OF THE COMPANY
The
turnover of the Company has been made by the Rice Mill Division only against
sale of Rice mill plants, machinery and equipments.
The
Turnover of the company, during the year under review, has achieved a
tremendous growth. The increase in turnover is Rs 344.654 Million as compared
to previous year, showing 38.46% of growth.
Exports
have increased also about 40%. The company has secured orders from a number of
new countries.
Moreover,
the profit after tax has increased from Rs.20.735 Million to Rs 58.032 Million,
showing 35.73 % of growth and earnings per share has increased from Rs17.12. to
Rs.47.25
The
higher profits are mainly due to exports where sales realization is higher and
also the Dollar value has increased from Rs. 54 (in the previous Financial Year)
to Rs. 61.5 (current Financial Year)
The
directors are hopeful to render you such a good result during the current
financial year also.
MAJOR DEVELOPMENTS MADE IN THIS INDUSTRY
The
company is the first manufacturing unit in India & Asia to successfully
commission a 100% Automatic and Continuous Parboiling Plant.
The
company has also achieved the distinction in successfully commissioning an
Automatic Fuel Efficient Husk Fired Furnace for multiple driers.
BUSINESS OVERVIEW
The
Government of India is encouraging exports of parboiled rice, both Basmati and
Non-Basmati. During the current year India is the highest exporter of Parboiled
Rice in the world. Therefore there is a demand for Induss Parboiling plants
within India.
Simultaneously
countries importing parboiled rice are looking at modernization of their own
parboiling facilities and they are confident of a greater demand for their
equipments in other countries.
LISTING ON STOCK EXCHANGE
The
Equity Shares of the company continue to be listed on Calcutta Stock Exchange
(CSE). The Company has remitted the listing fee to these stock exchanges, upto
date.
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Bank Guarantee issued to WBSEB |
0.847 |
0.847 |
|
Performance Bank Guarantee issued to Customer |
2.550 |
0.000 |
|
Prestige Ice cream Pvt. Ltd. (for Corporate
Guarantee)) |
20.500 |
12.000 |
|
|
|
|
|
Total |
23.897 |
12.847 |
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and equipment
·
Other plant and equipment
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipments
·
Other equipments
·
Computer software
·
Brands and trade marks
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. 67.04 |
|
|
1 |
Rs. 101.67 |
|
Euro |
1 |
Rs. 73.93 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.