MIRA INFORM REPORT

 

 

Report No. :

357456

Report Date :

29.12.2015

 

 IDENTIFICATION DETAILS

 

Name :

GUJARAT AMBUJA EXPORTS LIMITED

 

 

Registered Office :

Ambuja Tower, Opposite Memnagar Fire Station, Post Navjivan, Navarangpura, Ahmedabad – 380014, Gujarat

Tel. No.:

91-79-26423316

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

21.08.1991

 

 

Com. Reg. No.:

04-016151

 

 

Capital Investment / Paid-up Capital :

Rs. 276.700 Million

 

 

CIN No.:

[Company Identification No.]

L15140GJ1991PLC016151

 

 

IEC No.:

0891013041

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMG00194F

 

 

PAN No.:

[Permanent Account No.]

AAACG3980A

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Subject is mainly engaged in three segments:

 

i) agro processing for solvent extraction and oil refining (mainly soyabean)

ii) maize processing through corn wet milling for manufacturing of unmodified

starch and other downstream value added derivatives and

iii) cotton yarn manufacturing. (Registered Activity)

 

 

No. of Employees :

Information declined by the management 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A  (60)

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good 

 

 

Payment Behavior :

Regular 

 

 

Litigation :

Exist

 

 

Comments :

Gujarat Ambuja Exports Limited, an Ahmedabad-based diversified agro processor, is mainly engaged in three segments i. e. i) agro processing for solvent extraction and oil refining (mainly soyabean)  ii) maize processing through corn wet milling for manufacturing of unmodified starch and other downstream value added derivatives and  iii) cotton yarn manufacturing.

 

The ratings of Gujarat Ambuja Exports Limited (GAEL) derive strength from the wide experience of the promoters in various agro processing businesses, company's long operational track record, established market position and diversified revenue profile supported by a wide product portfolio, strategic location of plants and reputed clientele catering to various end-user industries.

 

The ratings also factors along with its healthy financial risk profile, comfortable capital structure, debt-coverage indicators and healthy liquidity.

 

The ratings, is constrained by the vulnerability of its operating margins to volatility in the agro commodity prices and forex fluctuation and its working capital intensive operations.

 

Trade relations are reported as fair. Business is active. 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.

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long term Bank Facilities = A+

Rating Explanation

Adequate degree of safety and low credit risk.

Date

26.02.2015

 

Rating Agency Name

CARE

Rating

Short term Debt: A1+

Rating Explanation

Very strong degree of safety and carry lowest credit risk.

Date

26.02.2015

 

 

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 31-03-2015.

 

 

INFORMATION DECLINED BY

 

MANAGEMENT NON CO-OPERATIVE (91-79-26423316)

 

LOCATIONS

 

Registered Office / Corporate Office:

“Ambuja Tower”, Opposite Memnagar Fire Station, Navrangpura, Post Navjivan, Ahmedabad – 380014, Gujarat, India

Tel. No.:

91-79-26423316 (5 Lines)/ 26405535 (5 Lines) 2642331620/ 26405535-37/ 39

Fax No.:

91-79-26423079

E-Mail :

info@ambujagroup.com

exports@ambujagroup.com

cs@ambujagroup.com

mani@ambujagroup.com

Website :

http://www.ambujagroup.com

http://www.ambujaglobal.com

 

 

FACTORY:

 

 

 

Cotton Yarn Division/ Maize Processing Unit :

1, Vrindavan Road, Village Dalpur, Taluka Prantij District Sabarkantha, Gujarat, India

Tel. No.:

91-2772-226252-54

Fax No.:

91-2772-226250

E-Mail :

cotspin@ambujagroup.com

 

 

Maize Processing Unit :

C-50, Eldeco Sidcul Industrial Park, Sitargang, District Udhamsingh Nagar – 263153, Uttranchal, India

Tel. No.:

91-5948-260564

E-Mail :

ua@ambujagroup.com

 

 

Soya Processing / Edible Oil / Vanaspati Ghee / Cattle Feed / Flour Mill Unit:

Kadi-Thore Road, Mehsana, Kadi – 382715, Gujarat, India

Tel. No.:

91-2764-264013/ 14/ 15/ 16

Fax No.:

91-2764-264012

E-Mail :

soyakadi@ambujagroup.com

 

 

Soya Processing / Atta Chakki Unit :

Plot No. : 414-417, Sector-III, Pithampur Industrial Area, District Dhar, Madhya Pradesh, India

Tel. No.:

91-7292-256790/ 256264

Fax No.:

91-7292-256199

E-Mail :

soyapith@ambujagroup.com

 

 

Soya Processing / Edible Oil Unit :

Village Post : Kanheri, Gawali, N.H.No.6, Akola-Balapur Road, Taluka Balapur,
District:Akola, Maharastra, India

Tel. No.:

91-7257-285026/ 285027

Fax No.:

91-7257-285025

E-Mail:

akola@ambujagroup.com

 

 

Soya Processing / Edible Oil Unit :

Village Sondhani Mhow - Neemuch Road, Sondhani, District Mandsaur – 458001, Madhya Pradesh, India

Tel. No.:

91-7422-285237/ 285238

E-Mail:

mandsaur@ambujagroup.com

 

 

Maize Processing Unit :

Madli Cross P.B. Road, 37 km from Hubli Towards Bangalore Haveri, Shiggoan - 581205, Karnataka, India

Tel. No.:

91-836-2382432

Fax No.:

91-836-2382433

E-Mail:

hubli@ambujagroup.com 

 

 

Power Division I – Wind Mills

·         B-87, R S No. 471/P, Village Lamba, Taluka Kalyanpur, District Jamnagar, Gujarat, India

 

·         WTG No. 1,Machine No.1, Survey No. 400, Village Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India

 

·         WTG No. 2, Machine No.2, Survey No. 400, Village Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India

 

·         WTG No. 3, Machine No. 6, Survey No. 400, Village Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India

 

·         Survey No.213/2, Village Satapar, Taluka Kalyanpur, District Jamnagar, Gujarat, India

 

·         WTG No.1, V-4, Survey No. 43/1/P Village Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India

 

·         WTG No.2, V-7, Survey No. 36/2/P, Village Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India

 

·         Survey No. 115/P, Village Mindiyali, Taluka Anjar, District Kutch, Gujarat, India

 

 

II – Power Plant (11 MW Cogeneration Plant) :

Located at :

 

·         Himmatnagar

·         Shiggaon

 

 

III – Biogas Power Plants :

Located at

 

·         Himmatnagar

·         Sitarganj

·         Shiggaon

 

 

Branch Offices :

Located At:

 

·         Mumbai

·         New Delhi

·         Indore

·         Akola

·         Vietnam

 

 

DIRECTORS

 

AS ON 31.03.2015

 

Name :

Mr. Vijaykumar Durgaprasad Gupta

Designation :

Managing Director

Address :

8 Pratima Society, Near Dada Saheb Na Pagla, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

65 Years

Qualification :

B. DS

Experience :

42 Years

Date of Appointment :

24.05.2014

DIN No.:

00028173

 

Name :

Mr. Manish Vijaykumar Gupta

Designation :

Managing Director

Address :

8 Pratima Society, Near Dada Saheb Na Pagla, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

42 Years

Qualification :

B.Com

Experience :

23 Years

Date of Appointment :

24.05.2014

DIN No.:

00028196

 

 

Name :

Mr. Mohit Vijaykumar Gupta

Designation :

Managing Director

Address :

8 Pratima Society Near Dada Saheb Na Pagla, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

20.11.1981

Qualification :

B. Com., Diploma in IBM, HRM, FBM and Diploma in computer Information Systems

Date of Appointment :

24.05.2014

DIN No.:

00028282

 

Name :

Mr. Sandeep Agrawal

Designation :

Whole-Time Director

Address :

302, Sankalp Grace, Behind Rajpath Club, Near Satyam House, Bodakdev, Ahmedabad - 380054, Gujarat, India

Date of Birth/Age :

12.12.1971

Qualification :

Commerce Graduate and MBA.

Experience :

More than 21 Years

Date of Appointment :

01.08.2014

DIN No.:

00027244

 

Name :

Mrs. Sulochana Vijaykumar Gupta

Designation :

Director

Address :

8 Pratima Society Near Dada Saheb Na Pagla, Navrangpura, Ahmedabad - 380009, Gujarat, India

Date of Birth/Age :

01.11.1953

Experience :

36 Years

Date of Appointment :

21.08.1991

DIN No.:

00028225

 

 

Name :

Mr. Prakash Gopichand Ramrakhiani

Designation :

Director

Address :

279/1/1, Hansol, Airport Circle, Behind Gateway Hotel, Ahmedabad - 382475, Gujarat, India

Date of Birth/Age :

25.11.1940

Qualification :

B.A. [Hons], M.A. [Eco], IAS

Date of Appointment :

08.03.2003

DIN No.:

00027900

 

 

Name :

Mr. Ashok Chandrakant Gandhi

Designation :

Director

Address :

2, Prabhat Society, Paldi, Ahmedabad - 380007, Gujarat, India

Date of Birth/Age :

04.12.1939

Qualification :

B. Com. LLB and Advocate

Experience :

More than 42 years in the legal profession.

Date of Appointment :

24.07.2003

DIN No.:

00022507

 

 

Name :

Mr. Rohitbhai Jashbhai Patel

Designation :

Director

Address :

7, Anand Park, Naranpura, Ahmedabad - 380013, Gujarat, India

Date of Birth/Age :

22.02.1946

Qualification :

B. E. [Electrical]

Date of Appointment :

30.07.2005

DIN No.:

00012367

 

 

Name :

Mr. Sudhin Bhagwandas Choksey

Designation :

Director

Address :

B - 601, Ratnakar, Lane Opposite 10C Petrol Pump, Off 132 Feet Ring Road, Satellite, Ahmedabad - 380015, Gujarat, India

Date of Appointment :

29.09.2012

DIN No.:

00036085

 

 

Name :

Mr. Rashmikant Navinchandra Joshi

Designation :

Director

Address :

51, Sangrila Bungalows, Thaltej(Ct), Taluka - Daskroi, Ahmedabad - 380059, Gujarat, India

Date of Appointment :

12.09.2015

DIN No.:

06930067

 

 

KEY EXECUTIVES

 

Name :

Mr. Giridhar Nagaraj Venkatrao

Designation :

Chief Financial Officer

Address :

A/802, Heritage Skyz, Opposite Auda Garden, Prahladnagar, Satellite, Ahmedabad - 380015, Gujarat, India

PAN No :

AAIPG8171G

Date of Appointment :

24.05.2014

 

 

Name :

Mr. Chetna Prabhatkumar Dharajiya

Designation :

Secretary

Address :

97, Umiya Nagar Society, Near Nirnaynagar Sector-2, Rani, Ahmedabad - 382480, Gujarat, India

PAN No :

AKDPD5975A

Date of Appointment :

13.08.2015

 

 

Name :

Mr. Samir Shah

Designation :

Account Department

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2015

 

Category of Shareholder

Total No. of Shares

% of Total No. of Shares

(A) Shareholding of Promoter and Promoter Group

 

 

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

99564393

71.96

http://www.bseindia.com/include/images/clear.gifSub Total

99564393

71.96

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

99564393

71.96

(B) Public Shareholding

 

 

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

67095

0.05

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

7450

0.01

http://www.bseindia.com/include/images/clear.gifSub Total

74545

0.05

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

2753604

1.99

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

30926510

22.35

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

4195655

3.03

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

837168

0.61

http://www.bseindia.com/include/images/clear.gifTrusts

12850

0.01

http://www.bseindia.com/include/images/clear.gifNon-Resident Indians

821818

0.59

http://www.bseindia.com/include/images/clear.gifDirectors & their Relatives & Friends

2500

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

38712937

27.98

Total Public shareholding (B)

38787482

28.04

Total (A)+(B)

138351875

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

0

0.00

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

138351875

0.00

 

 

 

 

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

No. of Shares held

As a % of grand total (A)+(B)+(C)

Vijaykumar Gupta

2,80,23,083

20.25

Manish Gupta

3,75,85,230

27.17

Mohit Gupta

2,24,47,442

16.22

Sulochana Gupta

44,85,385

3.24

Shilpa Gupta

70,23,253

5.08

Total

9,95,64,393

71.96

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is mainly engaged in three segments:

 

i) agro processing for solvent extraction and oil refining (mainly soyabean)

ii) maize processing through corn wet milling for manufacturing of unmodified

starch and other downstream value added derivatives and

iii) cotton yarn manufacturing.

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged 

 

 

Imports :

Not Divulged 

 

 

Terms :

Not Divulged 

 

PRODUCTION STATUS: NOT AVAILABLE

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Experience :

Not Divulged 

Remark:

Not Divulged 

 

 

Customers :

Reference :

Not Divulged 

Name of the Person :

Not Divulged 

Contact No.:

Not Divulged 

Since How Long Known :

Not Divulged 

Maximum Limit Dealt :

Not Divulged 

Experience :

Not Divulged 

Remark:

Not Divulged 

 

 

No. of Employees :

Information declined by the management 

 

 

Bankers :

Bank of India, Ahmedabad, India

 

Bank Name

HDFC Bank Limited

Branch

HDFC House, Near Mithakhali Six Roads, Navrangpura, Ahmedabad - 380009, Gujarat, India

Person Name (With Designation)

Not Divulged 

Contact Number

Not Divulged 

Name of Account Holder

Not Divulged 

Account Number

Not Divulged 

Account Since (Date/Year of Account Opening)

Not Divulged 

Average Balance Maintained (If Possible)

Not Divulged 

Credit Facilities Enjoyed (If any)

Not Divulged 

Account Operation

Not Divulged 

Remarks (If any)

Not Divulged 

 

 

Facilities :

Secured Loan

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Long-term Borrowings

 

 

From Banks

 

 

TUF scheme

311.400

0.000

Amount disclosed under the head “other current liabilities”

(62.300)

0.000

Short-term borrowings

 

 

Working Capital Facilities from Banks Payable on demand

1711.100

2939.200

Suppliers line of credit from banks in foreign currency

739.000

0.000

Short term loan from banks

250.000

1000.000

Total

2949.200

3939.200

 

Note:

 

Long term borrowing :

 

Term loan is availed from HDFC bank limited, which carries gross interest @11.00% p.a. the loan is secured by hypothecation of specific movable plant and machineries.

 

The loan is repayable in quarterly installments of Rs. 15.600 million, each along with interest, form the next financial year i.e. 2015-2016. This loan is eligible for interest subsidy of 2% p.a. under TUF scheme of central government and 7% p.a. by Gujarat state government under the textile policy, 2012.

 

Short term borrowing :

 

Working capital, suppliers line of credit from banks in foreign currency and short term loan from banks is are secured by a hypothecation of current assets and certain tangible movable plant and machineries and joint equitable mortgage of certain immovable fixed assets of the company, personal guarantee of three promoter directors and lien on certain fixed deposits of company. 

 

Auditors :

 

Name :

Kantilal Patel and Company (A member firm of PrimeGlobal, USA).

Chartered Accountants

Address :

2nd Floor, Paritosh Building, Usmanpura, Ahmedabad – 380013, Gujarat, India

Tel. No.:

91-79-27551333/ 27552333

Mobile No.:

91-79-27550538

E-Mail :

services@kpcindia.com

Memberships :

-----

 

 

Collaborators :

-----

 

 

Subsidiary  :
  • Gujarat Ambuja International Pte. Limited

 

 

Enterprise significantly influenced by Key Managerial Persons :

 

·         SMAS Investors LLP

·         Jay Infrastructure and Properties LLP

 

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250000000

Equity Shares

Rs.2/- each

Rs. 500.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

138351875

Equity Shares

Rs.2/- each

Rs. 276.700 Million

 

Reconciliation of the number of shares outstanding at the beginning and the end of the reporting period:

 

Equity shares

As At 31st March 2015

 

Number of share

Amount

Outstanding at the beginning of the period

138351875

276.704

Outstanding at the end of the period

138351875

276.704

 

Terms/rights attached to equity shares

 

i) The company has only class of equity shares carrying par value of Rs. 2 per share, carrying equal rights as to dividend, voting and in all other respects.

 

ii) During the year ended 31st march 2015, the amount of per share dividend recognized as distributions to equity shareholders was Rs. 0.84 

 

Details of shareholders holding more than 5% shares in the company.

 

 

As At 31st March 2015

Equity shares of Rs. 2 each fully paid

No. Shares Held

% Holding in the class

Name of the Shareholder

 

 

Vijay Kumar Gupta

28023083

20.255

Manish V Gupta

37585230

27.166

Mohit V Gupta

22447442

16.225

Shiplap M Gupta

7023253

5.076

 

As per of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents legal ownerships of shares.  


 

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

276.700

276.700

276.700

(b) Reserves & Surplus

7982.300

7273.700

6270.400

(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)

8259.000

7550.400

6547.100

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

249.100

0.000

0.000

(b) Deferred tax liabilities (Net)

550.800

519.900

583.500

(c) Other long term liabilities

36.200

17.400

6.800

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

836.100

537.300

590.300

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

2781.600

4014.700

1831.600

(b) Trade payables

628.500

670.900

2691.200

(c) Other current liabilities

278.400

266.600

309.300

(d) Short-term provisions

45.400

62.000

50.800

Total Current Liabilities (4)

3733.900

5014.200

4882.900

 

 

 

 

TOTAL

12829.000

13101.900

12020.300

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

5417.000

4781.000

4564.800

(ii) Intangible Assets

10.900

12.400

14.700

(iii) Capital work-in-progress

629.400

635.800

381.200

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

424.400

417.200

446.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

343.500

380.100

264.800

(e) Other Non-current assets

2.400

3.700

4.500

Total Non-Current Assets

6827.600

6230.200

5676.000

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

100.000

0.000

0.000

(b) Inventories

4436.900

4972.900

4571.200

(c) Trade receivables

1080.700

1496.000

1088.000

(d) Cash and cash equivalents

55.900

57.800

324.200

(e) Short-term loans and advances

290.900

298.300

275.700

(f) Other current assets

37.000

46.700

85.200

Total Current Assets

6001.400

6871.700

6344.300

 

 

 

 

TOTAL

12829.000

13101.900

12020.300

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Revenue from operations

25313.000

30918.100

30046.200

 

Other Income

91.300

100.900

94.500

 

TOTAL

25404.300

31019.000

30140.700

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

16813.300

23665.300

20691.000

 

Purchases of Stock-in-Trade

2164.400

1902.300

4113.400

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

851.300

(830.200)

(49.800)

 

Employees benefits expense

762.000

722.000

645.200

 

Other expenses

3076.000

3509.300

2700.700

 

TOTAL

23667.000

28968.700

28100.500

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

1737.300

2050.300

2040.200

 

 

 

 

 

Less

FINANCIAL EXPENSES

150.000

206.500

217.000

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

1587.300

1843.800

1823.200

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

609.700

474.100

366.800

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

977.600

1369.700

1456.400

 

 

 

 

 

Less

TAX

135.900

253.100

322.900

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

841.700

1116.600

1133.500

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

 5255.100

4371.800 

 3486.700

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Interim Equity Dividend

116.200

96.800

110.600

 

Transfer to General Reserve

0.000

120.000

120.000

 

Tax on Dividend Equity dividend

19.700

16.500

17.800

 

Balance Carried to the B/S

5960.900

5255.100

4371.800

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

3006.400

6068.600

7791.300

 

TOTAL EARNINGS

3006.400

6068.600

7791.300

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

2953.500

1464.700

6689.300

 

Components and Stores parts

7.100

18.900

14.100

 

Capital Goods

171.700

192.000

53.700

 

TOTAL IMPORTS

3132.300

1675.600

6757.100

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

6.08

8.07

8.19

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

62.300

0.000

NA

Cash generated from operations

2711.700

(889.000)

3202.700

Net cash flow from (used in) operations

2535.200

(1204.800)

2941.900

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / sales)

(%)

3.33

3.61

3.77

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

6.86

6.63

6.79

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

8.30

11.37

13.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.12

0.18

0.22

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.37

0.53

0.28

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.61

1.37

1.30

 

QUARTERLY RESULTS

 

PARTICULARS

 

 

30.06.2015

30.09.2015

Unaudited

 

1st Quarter

2nd  Quarter

Net Sales

 

6105.870

6930.600

Total Expenditure

 

5557.210

6571.200

PBIDT (Excl OI)

 

548.660

359.400

Other Income

 

17.460

5.800

Operating Profit

 

566.120

365.200

Interest

 

35.550

22.800

Exceptional Items

 

NA

NA

PBDT

 

530.570

342.400

Depreciation

 

155.910

163.600

Profit Before Tax

 

374.660

178.800

Tax

 

126.160

18.500

Provisions and contingencies

 

NA

NA

Profit After Tax

 

248.510

160.300

 

 

STOCK PRICES

 

Face Value

Rs.2.00/-

Market Value

Rs.46.80/-

 

 

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

276.700

276.700

276.700

Reserves & Surplus

6270.400

7273.700

7982.300

Net worth

6547.100

7550.400

8259.000

 

 

 

 

long-term borrowings

0.000

0.000

249.100

Short term borrowings

1831.600

4014.700

2781.600

Total borrowings

1831.600

4014.700

3030.700

Debt/Equity ratio

0.280

0.532

0.367

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from operations

30046.200

30918.100

25313.000

 

 

2.902

(18.129)

 

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Revenue from operations

30046.200

30918.100

25313.000

Profit

1133.500

1116.600

841.700

 

3.77%

3.61%

3.33%

 

 

 

 

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

No

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

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

No

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

Yes

33

Market information

---

34

Payments terms

No

35

Negative Reporting by Auditors in the Annual Report

No

 

LITIGATION DETAILS:

 

 

HIGH COURT OF GUJARAT

 

TAX APPEAL No. 886 of 2011

 

 

 

Status : PENDING

( Converted from : ST/1607/2011 )

CCIN No : 001092201100886

Last Listing Date:

16/04/2014

 

Coram

HONOURABLE MR.JUSTICE AKIL KURESHI

HONOURABLE MS JUSTICE SONIA GOKANI

 

S.NO.

Name of the Petitioner

Advocate On Record

 

1

COMMISSIONER OF INCOME TAX

MRS MAUNA M BHATT for: Appellant(s) : 1

 

 

S.NO.

Name of the Respondant

Advocate On Record

1

GUJARAT AMBUJA EXPORTS LIMITED

MR B S SOPARKAR for :Opponent(s) : 1

Presented On

: 02/05/2011

Registered On

: 02/05/2011

 

Bench Category

: DIVISION BENCH

District

: AHMEDABAD

 

Case Originated From

: THROUGH HIS/HER/THEIR ADVOCATE

Listed

: 293 times

 

StageName

: TAX APPEALS U/S 80 IB (10)

 

 

Classification

DB - OJ - TAX APPEAL - INCOME TAX ACT, 1961 - APPEAL TO HIGH COURT - U/S 260 OF IT ACT - LONG TERM CAPITAL GAIN - U/S 54EA

Act

INCOME-TAX ACT, 1961

Office Details

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

02/05/2011

MEMO OF PETITION/APPEAL/SUIT

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) : 1

20

MRS MAUNA M BHATT:1

2

15/08/2011

VAKALATNAMA

MR B S SOPARKAR ADVOCATE
for RESPONDENT(s) : 1

-

MR B S SOPARKAR:1

3

15/08/2011

VAKALATNAMA

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) :  1

-

MRS MAUNA M BHATT:1

4

17/07/2012

VAKALATNAMA

MR B S SOPARKAR ADVOCATE
for RESPONDENT(s) : 1

5

MR B S SOPARKAR:1

 

 

Linked Matters

 

S. No.

CaseDetail

Status Name

Disposal Date

Action/Coram

1

TAX APPEAL/887/2011

PENDING

-

·         HONOURABLE MR.JUSTICE AKIL KURESHI 

·         HONOURABLE MS JUSTICE SONIA GOKANI

2

TAX APPEAL/1067/2014

PENDING

-

·         HONOURABLE MS.JUSTICE HARSHA DEVANI 

·         HONOURABLE MS JUSTICE SONIA GOKANI

 

Court Proceedings

 

 

S. No.

Notified Date

CourtCode

Board Sr. No.

Stage

Action

Coram

1

17/05/2011

3

-

OFFICE OBJECTION (FILING STAGE)

NEXT DATE

·         ADDITIONAL REGISTRAR ( JUDICIAL)

2

21/06/2012

3

22

BOARD NO. I-A

NEXT DATE

·         HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI 

·         NOURABLE MR.JUSTICE N.V.ANJARIA

3

30/11/2013

5

139

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE M.R. SHAH 

·         HONOURABLE MR.JUSTICE R.P.DHOLARIA

4

03/12/2013

5

58

FOR FINAL HEARING

RULE DISCHARGED/DISMISSED @ FH

·         HONOURABLE MR.JUSTICE M.R. SHAH 

·         HONOURABLE MR.JUSTICE R.P.DHOLARIA

5

17/12/2013

5

21

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE M.R. SHAH 

·         HONOURABLE MR.JUSTICE R.P.DHOLARIA

6

21/12/2013

5

12

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE M.R. SHAH 

·         HONOURABLE MR.JUSTICE R.D.KOTHARI and HONOURABLEMR.JUSTICE R.P.DHOLARIA

7

26/12/2013

5

49

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE M.R. SHAH 

·         HONOURABLE MR.JUSTICE R.P.DHOLARIA

8

13/01/2014

7

93

FOR FINAL HEARING

NEXT DATE

·         HONOURABLE MR.JUSTICE M.R. SHAH 

·         HONOURABLE MR.JUSTICE AKIL KURESHI and HONOURABLE MS JUSTICE SONIA GOKANI and HONOURABLE MR.JUSTICE R.P.DHOLARIA

9

26/02/2014

7

76

TAX APPEALS U/S 80 IB (10)

NEXT DATE

·         HONOURABLE MR.JUSTICE AKIL KURESHI 

·         HONOURABLE MS JUSTICE SONIA GOKANI

10

05/03/2014

7

142

TAX APPEALS U/S 80 IB (10)

NEXT DATE

·         HONOURABLE MR.JUSTICE AKIL KURESHI 

·         HONOURABLE MS JUSTICE SONIA GOKANI

11

16/04/2014

7

90

TAX APPEALS U/S 80 IB (10)

·         HONOURABLE MR.JUSTICE AKIL KURESHI 

·         HONOURABLE MS JUSTICE SONIA GOKANI

 

 

Available Orders

 

S. No.

Case Details

Judge Name

Order Date

CAV

Judgement

Questions

Transferred

1

TAX APPEAL/886/2011

·         HONOURABLE THE ACTING CHIEF JUSTICE MR. VIJAY MANOHAR SAHAI 

·         HONOURABLE MR.JUSTICE N.V.ANJARIA

21/06/2012

N

ORDER

-

Y

 

 

Certified Copy

 

S. No.

ApplicantName

AppliScationType

Application Date

UOL Number

Order Date

Notify Date

Delivery Date

Status

Nature Of Document

1

MRS MAUNA M BHATT

ORDINARY

22/06/2012

O/18913/2012

21/06/2012

25/06/2012

26/06/2012

Delivered

ORDER

 

COMPANY INFORMATION:

 

Subject is a public limited company domiciled in India. GAEL is an agro processing conglomerate with various manufacturing plants at different locations in states of Gujarat, Maharashtra, Madhya Pradesh, uttarkhand and Karnataka. The group’s product profile includes solvent extraction comprising of all types of oil seed processing , edible oil refining, cotton yarn spinning, maize based starch and its derivatives, wheat processing cattle feed and power generation through wind mills, bio gas and thermal power plants, mainly for internal consumption.

 

OPERATIONAL PERFORMANCE:

 

The company recorded operational revenue of Rs. 25313.000 Million as compared to Rs. 30918.100 Million during the previous financial year. The various profit parameters have significant growth during the year. The company achieved EBIDTA margin of 6.86% in FY 2014-15 against the same at the level of 6.61% in FY 2013-14.

 

Export sales for the year 2014-15 was Rs. 3176.200 Million as compared to Rs. 6261.100 Million for the year 2013-14 mainly due to surge in the domestic market in respect of Agro processing segment products. The company achieved Earnings before Interest, Depreciation and Tax (EBIDTA) of Rs. 1737.300 Million for the year 2014-15 against that of Rs. 2050.300 Million for the year 2013-14.

 

The cash Profit before tax, Profit after and EPS for the year remained at Rs 1587.300 Million, Rs. 841.700 Million and Rs. 6.08 per share respectively.

 

OUTLOOK FOR THE YEAR 2015-16

 

The global economic climate continues to be volatile, uncertain and prone to geo-political risks. The marked slowdown in global markets is expected to continue in 2015. The sharp fall in growth of emerging markets, notably china, will continue to keep commodity prices including oil, which is significantly lower than last year, volatile.

 

In this global backdrop, India is expected to perform batter, aided by improving macroeconomics fundamentals. However, execution of the reform agenda and kick starting the investments cycle will be key determinants of India’s economic performance. While currently inflation is benign, upside pressures on inflation from the vagaries of monsoon or sudden changes in the rupee, could have a significant bearing on inflation.

 

UNSECURED LOAN

 

PARTICULARS

31.03.2015

(Rs. in Million)

31.03.2014

(Rs. in Million)

Short term borrowing

 

 

Short term loan from banks

81.500

75.500

Total

81.500

75.500

 

CONTINGENT LIABILITIES:

 

PARTICULARS

31.03.2015

(Rs. In Million)

(a) Claims against the Company /disputed liabilities not acknowledged as debts

52.000

(b) Disputed Statutory Claims

 

i) Excise, Customs, Service Tax and DGFT

74.300

ii) Income Tax

 

a) Appeals preferred by Company

----

b) Appeals preferred by Department

6.200

iii) Sales Tax , VAT, Entry Tax and Mandi Tax

27.500

iv) Others

11.300

TOTAL

182.700

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10506595

23/06/2014

400,000,000.00

HDFC BANK LIMITED

HDFC HOUSE, NR. MITHAKHALI SIX ROADS, NAVRANGPUR 
A, AHMEDABAD  - 380009, Gujarat, INDIA

C09659657

2

10086124

17/04/2015 *

10,110,600,000.00

BOI CONSORTIUM - BOI LEAD + UBI + HDFC BK + SBI + 
YES BK

AHMEDABAD LARGE CORPORATE BRANCH, 2ND FLOOR BOI B 
UILDING BHADRA, AHMEDABAD - 380001, GUJARAT, INDIA

C52076114

 

* Date of charge modification

 

 

 

UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED AND SIX MONTHS ON 30.09.2015

 

[RS. IN MILLION]

 

PARTICULARS

 

 

 

3 Months Ended

6 Months Ended

30.09.2015

[Unaudited]

30.06.2015

[Unaudited]

30.09.2015

[Unaudited]

(a) Net sates/income from operations (Net of excise duty)

6904.900

6084.700

12989.600

(b) Other Operating Income

25.700

21.200

46.900

Total income from operations (net)

6930.600

6105.900

13036.500

Expenses

 

 

 

(a) Cost of materials consumed

4173.500

4187.500

8361.000

(b) Purchases of stock-in trade

1352.400

551.800

1904.200

(c) Changes in inventories of finished goods. work-in-progress and stock in trade

14.100

(135.800)

(121.700)

(d) Employee benefits expense

186.800

201.700

388.500

(e) Depreciation and Amortization Expenses

163.600

155.900

319.500

(f) Other Expenses

800.500

748.900

1549.400

(g)Foreign Exchange

43.900

3.100

47.000

Total expenses

6734.800

5713.100

12447.900

Profit/ (Loss) from operations before other Income, finance costs and exceptional Items (1-2)

195.800

392.800

588.600

Other Income

5.800

17.500

23.300

Profit/ (Loss) from operations before other income, finance costs and exceptional items (3+4)

201.600

410.300

611.900

Finance Costs

22.800

35.600

58.400

Profit/ (Loss) from ordinary activities after finance cost but before exceptional items (5-6)

178.800

374.700

553.500

Exceptional items

0.000

0.000

0.000

Profit/ (Loss) from ordinary activities before tax (7+8)

178.800

374.700

553.500

Tax expenses

18.500

126.200

144.700

Net Profit / (Loss) from ordinary activities after tax (9-10)

160.300

248.500

408.800

Extraordinary item (net of tax expense)

0.000

0.000

0.000

Net Profit / (Loss) for the period (11-12)

160.300

248.500

408.800

Share of profit' (loss) of associates

 

 

 

Minority Interest

 

 

 

Net Profit/ (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15)

 

 

 

Paid up equity share capital (Face Value of Rs 10/-each)

276.700

276.700

276.700

Reserve excluding Revaluation Reserve as per Balance Sheet of previous accounting year

 

 

 

Earnings per share (before extraordinary items) of Rs.10/- each (not annualized):

 

 

 

(a) Basic

1.16

1.8

2.96

(b) Diluted

1.16

1.8

2.96

 

 

 

 

PARTICULARS OF SHAREHOLDING

 

 

 

A. Public Shareholding

 

 

 

- Number of shares

38787482

38787482

38787482

- Percentage of shareholding

28.04

28.04

28.04

Promoters and Promoter group shareholding

 

 

 

a) Pledged / Encumbered

 

 

 

- Number of shares

0.00

0.00

0.00

- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group)

0.00

0.00

0.00

- Percentage of shares (as a % of the total Share Capital of the Company)

0.00

0.00

0.00

b) Non Encumbered

 

 

 

- Number of shares

99564393

99564393

99564393

- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group)

100.00

100.00

100.00

- Percentage of shares (as a % of the total Share Capital of the Company)

71.96

71.96

71.96

 

B. INVESTOR COMPLAINTS FOR THE QUARTER ENDED SEPTEMBER 30, 2015.

 

Pending at the beginning of the quarter

Received during the quarter 

Disposed of during the quarter

Remaining unresolved at the end of the quarter

 

 

 

 

 

 

NOTE:

 

1. The above standalone unaudited financial results have been reviewed by the Audit Committee of the Board at its meeting held on 30th October, 2015 and approved and taken on record by the Board of Directors of the company at its meeting held on 31st October 2015. Further in accordance with the requirement of Clause-41 of the Listing Agreement with the Stock Exchange, the Statutory Auditors have carried out Limited Review and the Review Report has been approved by the Board.

 

2. The break up details of exchange fluctuation (gain) loss are as follows.

Particulars

Quarter ended

30.09.2015

Quarter ended

30.06.2015

Quarter ended

30.09.2015

(gain)/loss (net) on account of sales/purchase

16.400

8.300

24.700

(gain)/loss (net) on account of restatement of foreign currency working capital borrowing  

(1.400)

(2.000)

(3.400)

(gain)/loss (net) on account of restatement of foreign currency working capital borrowing  

28.900

(3.200)

25.700

Total

43.900

3.100

47.000

 

 

SEGMENT REVENUE AND CAPITAL EMPLOYED FOR THE QUARTER ENDED 30TH SEPTEMBER 2015

 

    (Rs. In Million)

Sr. No.

Particulars

3 Months Ended

6 Months Ended

 

 

30.09.2015

[Unaudited]

30.06.2015

[Unaudited]

30.09.2015

[Unaudited]

1.

SEGMENT REVENUE

 

 

 

 

a. Cotton Yarn Division

442.400

414.129

856.500

 

b. maize processing Division

2679.400

2581.073

5260.500

 

c. other Agro processing Division

3771.800

3081.988

6853.800

 

d. Power division

266.700

205.983

472.700

 

e. Unallocated

0.000

0.000

0.000

 

Total

7160.300

6283.173

13443.500

 

Less : Inter Segment Revenue

229.700

177.308

407.000

 

Net Sales

6930.600

6105.865

13036.500

 

 

 

 

 

2.

SEGMENT RESULT

 

 

 

 

a. Cotton yarn Division

(58.500)

(57.124)

(115.600)

 

b. Maize Processing Division

326.300

353.698

680.000

 

c. Other Agro Processing Division

(19.000)

144.801

125.800

 

d. Power Division

87.600

63.944

151.600

 

e. Unallocated

0.000

0.000

0.000

 

Total

336.400

505.319

841.800

 

Less: Inter Segment

56.900

42.694

99.600

 

Less: Finance costs

22.800

35.553

58.400

 

Less: Loss on account of restatement of monetary

Assets and Liability

28.900

(3.243)

25.700

 

Less: Net unallocated income (expenditure)

49.000

55.651

104.800

 

Less: Exceptional Item

0.000

0.000

0.000

 

Total Profit Before Tax

178.800

374.664

553.500

 

 

 

 

 

3.

CAPITAL EMPLOYED

 

 

 

 

a. Cotton yarn Division

875.200

1033.589

875.200

 

b. Maize Processing Division

5228.800

5688.286

5228.800

 

c. Other Agro Processing Division

3535.000

3388.363

3535.000

 

d. Power Division

1184.400

1185.015

1184.400

 

e. Unallocated

 

 

 

 

Less: Unallocated

(2160.900)

(2793.936)

(2160.900)

 

Net Total

8662.500

8501.317

8662.500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(RS. IN MILLION)

     

 

SOURCES OF FUNDS

 

30.09.2015

[Unaudited]

I.              EQUITY AND LIABILITIES

 

(1) Shareholders' Funds

 

(a) Share Capital

276.700

(b) Reserves & Surplus

8385.800

Total Shareholders’ Funds

8662.500

 

 

(2) Share Application Money Pending Allotment

0.000

 

 

(3) Non-Current Liabilities

 

(a) long-term borrowings

296.900

(b) Deferred tax liabilities (Net)

575.500

(c) Other long term liabilities

0.000

(d) long-term provisions

36.200

Total Non-current Liabilities (3)

908.600

 

 

(4) Current Liabilities

 

(a) Short term borrowings

3511.700

(b) Trade payables

1118.400

(c) Other current liabilities

299.000

(d) Short-term provisions

78.600

Total Current Liabilities (4)

5007.700

 

 

TOTAL

14578.800

 

 

II.            ASSETS

 

(1) Non-current assets

 

(a) Fixed Assets

6114.500

(b) Non-current Investments

427.200

(c) Deferred tax assets (net)

0.000

(d)  Long-term Loan and Advances

446.400

(e) Other Non-current assets

0.700

Total Non-Current Assets

6988.800

 

 

(2) Current assets

 

(a) Current investments

1110.000

(b) Inventories

3977.300

(c) Trade receivables

2093.600

(d) Cash and cash equivalents

86.100

(e) Short-term loans and advances

265.500

(f) Other current assets

57.500

Total Current Assets

7590.000

 

 

TOTAL

14578.800

 

FIXED ASSETS

 

Tangible Assets

 

·         Freehold Land

·         Leasehold Land

·         Buildings

·         Windmills

·         Plant and Equipments

·         Office Equipments

·         Computers

·         Furniture and Fixtures

·         Vehicles

 

Intangible Assets

 

·         Brands / Trademarks

·         Technical know how

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No 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.66.14

UK Pound

1

Rs.98.69

Euro

1

Rs.72.55

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

KAS

 

 

Report Prepared by :

MTN

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

7

--LIQUIDITY

1~10

7

--LEVERAGE

1~10

7

--RESERVES

1~10

7

--CREDIT LINES

1~10

7

--MARGINS

-5~5

----

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

YES

--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

 

60

 

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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.