MIRA
INFORM REPORT
|
Report No. : |
306463 |
|
Report Date : |
04.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RDB RASAYANS LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.10.1995 |
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Com. Reg. No.: |
21-074860 |
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Capital
Investment / Paid-up Capital : |
Rs. 177.148 Millions |
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CIN No.: [Company Identification
No.] |
L36999WB1995PLC074860 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer of PP Woven sacks. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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
31-03-2014.
INFORMATION DENIED
Management Non Co-Operative (Tel. No.: 91-3224-277088)
LOCATIONS
|
Registered Office : |
Bikaner Buildiing, 8/1 Lal Bazar Street, 3rd Floor, Room
No. 9, Kolkata – 700001, West Bengal, India |
|
Tel. No.: |
91-33-44500500 |
|
Fax No.: |
91-33-22420588 |
|
E-Mail : |
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|
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Branch Office : |
Link Intime India Private Limited, 59C, Chowringhee Road, 3rd
Floor, Kolkata – 700020, West Bengal, India |
|
Tel. No.: |
91-33-22890540/ 2290-9469 |
|
Fax No.: |
91-33-22890539 |
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E-Mail : |
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Works : |
126, Basudevpur Hpl Link Road, P.O. Khanjanchak Purba Medinipur,
Haldia – 721602, India |
|
Tel No.: |
91-3224277088/ 278108 |
|
Fax No.: |
91-3224277340 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As On 31.03.2014
|
Name : |
Mr. Shanti Lal Baid |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
02.06.1950 |
|
Date of Appointment : |
01.10.2001 |
|
Expertise in specific functional area : |
Management and Administration |
|
|
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|
Name : |
Mr. Mahendra Pratap Singh |
|
Designation : |
Non Executive Independent Director |
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Date of Birth/Age : |
01.07.1947 |
|
Date of Appointment : |
12.10.2009 |
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Expertise in specific functional area : |
Managerial Qualities |
|
|
|
|
Name : |
Mr. Sandeep Baid |
|
Designation : |
Whole Time Director |
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|
|
|
Name : |
Mr. Prabir Kumar Sarkar |
|
Designation : |
Non Executive Independent Director |
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Date of Birth/Age : |
01.02.1942 |
|
Date of Appointment : |
10.12.2009 |
|
Expertise in specific functional area : |
Financial Management |
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|
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|
Name : |
Mr. Sharad Kumar Bachhawat |
|
Designation : |
Non Executive Independent Director |
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Date of Birth/Age : |
07.02.1970 |
|
Date of Appointment : |
08.08.2012 |
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Expertise in specific functional area : |
Managerial Qualities |
|
|
|
|
Name : |
Mrs. Pragya Baid |
|
Designation : |
Non Executive Director |
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Date of Birth/Age : |
30.10.1981 |
|
Date of Appointment : |
15.07.2014 |
|
Expertise in specific functional area : |
Managerial Qualities |
KEY EXECUTIVES
|
Name : |
Ms. Swati Agarwal |
|
Designation : |
Company Secretary and Compliance Officer |
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|
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Name : |
Mr. Bidhan Neogi |
|
Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS On 31.12.2014
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
9131966 |
51.55 |
|
|
3513800 |
19.84 |
|
|
12645766 |
71.39 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
12645766 |
71.39 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
2030036 |
11.46 |
|
|
|
|
|
|
1150941 |
6.50 |
|
|
1273970 |
7.19 |
|
|
614087 |
3.47 |
|
|
279030 |
1.58 |
|
|
328557 |
1.85 |
|
|
6500 |
0.04 |
|
|
5069034 |
28.61 |
|
Total Public
shareholding (B) |
5069034 |
28.61 |
|
Total (A)+(B) |
17714800 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
17714800 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PP Woven sacks. |
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|
Products : |
·
Woven sacks ·
Fabrics ·
Liner ·
FIBC |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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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 Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
·
Tata Chemical Limited ·
Haldia Petrochemicals Limited ·
Dhunseri Petrochem and Tea Limited ·
Phillips Carbon Black Limited ·
Hindustan Unilever Limited ·
MCC PTA India Corporation Private Limited ·
Sky Carbon Black (India) Private Limited ·
Shree Renuka Sugar Limited ·
Himadri Chemicals and Industriales Limited |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
·
Axis Bank Limited ·
State Bank of India ·
Oriental Bank of Commerce ·
Kotak Mahindra Bank ·
HDFC Bank |
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Facilities : |
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Statutory Auditors : |
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Name : |
S.M. Daga and Company Chartered Accountants |
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Address : |
11, Clive Row, Kolkata – 700001, West Bengal, India |
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Cost Auditor : |
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|
Name : |
D.K. Lodha and Company Cost and Management Accountants |
|
Address : |
34A, B.K. Paul Avenue, Kolkata – 700005, West Bengal, India |
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|
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Internal Auditor
: |
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|
Name : |
J.B.S. and Company Chartered Accountants |
|
Address : |
60, Bentick Street, 4th Floor, Kolkata – 700069, West
Bengal, India |
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|
|
|
Memberships : |
Not Available |
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|
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Collaborators : |
Not Available |
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Related Parties : |
·
Ajanta Trading Company ·
R D Motors Private Limited ·
NTC Industries Limited ·
Infra Vision Developers Private Limited |
CAPITAL STRUCTURE
As On 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180,000,00 |
Equity Shares |
Rs. 10/- each |
Rs. 180.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
177,148,00 |
Equity Sahres |
Rs. 10/-
each |
Rs. 177.148
Millions |
|
|
|
|
|
A) Rights, preferences and restriction attaching to various classes of
shares including restriction on distribution of dividends and repayment of
capital.
The Company has only one class of shares which does not enjoy any preferential
right or bear any restriction with regard to distribution of dividend or
repayment of capital. Each holder of equity shares is entitled to one vote per
share.
B) Reconciliation of number of equity shares outstanding at the
beginning and at the end of the year
|
Particulars |
31.03.2014 |
31.03.2013 |
|
Shares outstanding as at the beginning of
the year |
17,714,800 |
17,714,800 |
|
Number of shares outstanding as at the end of the year |
17,714,800 |
17,714,800 |
C) Details of shares held by each shareholder holding more than 5%
shares with voting rights
|
Particulars |
31.03.2014 % of Holding/
No. of Shares |
31.03.2013 % of
Holding/ No. of Shares |
|
1. Sheetal Dugar |
23.39% |
23.22% |
|
4,413,071 |
4,114,093 |
|
|
2. Pyramid Sales Private Limited |
19.84% |
19.84% |
|
3,513,800 |
3,513,800 |
|
|
3. Vinod Dugar |
19.39% |
19.39% |
|
3,434,800 |
3,434,800 |
|
|
4. Growth Techno Projects Limited |
9.26% |
9.26% |
|
1,640,000 |
1,640,000 |
|
|
5. Sandeep Baid |
5.04% |
5.04% |
|
893,695 |
893.695 |
|
|
Total |
76.92% |
76.75% |
|
13,625, 366 |
13,596,388 |
|
Particulars |
As at 31st
March, 2014 |
As at 31st
March, 2014 |
|
D) Share reserved for issue under options
and contracts |
-- |
-- |
|
E) Commitments for sale of shares/
disinvestment |
-- |
-- |
F) Details of allotment of bonus shares during the period of five years
|
9,911,100 equity shares of Rs.10/- each
allotted during financial year |
99,111,000 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
177.148 |
177.148 |
177.148 |
|
(b) Reserves & Surplus |
360.856 |
354.895 |
357.534 |
|
(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) |
538.004 |
532.043 |
534.682 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
20.967 |
26.246 |
30.907 |
|
(b) Deferred tax liabilities (Net) |
8.959 |
10.468 |
10.911 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.213 |
1.109 |
0.619 |
|
Total Non-current Liabilities (3) |
31.139 |
37.823 |
42.437 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
67.778 |
93.520 |
78.853 |
|
(b) Trade payables |
31.120 |
27.475 |
22.535 |
|
(c) Other current
liabilities |
7.901 |
6.329 |
5.705 |
|
(d) Short-term provisions |
20.007 |
14.394 |
24.601 |
|
Total Current Liabilities (4) |
126.806 |
141.718 |
131.694 |
|
|
|
|
|
|
TOTAL |
695.949 |
711.584 |
708.813 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
124.937 |
138.671 |
131.056 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.447 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
55.000 |
55.000 |
95.000 |
|
(e) Other Non-current assets |
10.847 |
14.964 |
18.403 |
|
Total Non-Current Assets |
191.231 |
208.635 |
244.459 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
91.373 |
116.888 |
82.260 |
|
(c) Trade receivables |
99.393 |
95.084 |
46.845 |
|
(d) Cash and cash
equivalents |
267.786 |
266.639 |
319.050 |
|
(e) Short-term loans and
advances |
32.363 |
15.383 |
8.062 |
|
(f) Other current assets |
12.803 |
8.955 |
8.137 |
|
Total Current Assets |
503.718 |
502.949 |
464.354 |
|
|
|
|
|
|
TOTAL |
694.949 |
711.584 |
708.813 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
734.466 |
598.075 |
457.286 |
|
|
|
Other Income |
4.657 |
7.573 |
31.738 |
|
|
|
TOTAL (A) |
739.123 |
605.648 |
489.024 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
434.450 |
304.684 |
318.655 |
|
|
|
Purchase of Stock-in-Trade |
36.584 |
111.032 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
10.929 |
(11.309) |
(15.737) |
|
|
|
Employees benefit expenses |
40.826 |
35.145 |
25.818 |
|
|
|
Other expenses |
155.538 |
121.913 |
103.864 |
|
|
|
TOTAL (B) |
678.327 |
561.465 |
432.600 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
60.796 |
44.183 |
56.424 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.017 |
16.852 |
17.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.779 |
27.331 |
39.339 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.263 |
16.156 |
15.947 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
24.516 |
11.175 |
23.392 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.125 |
3.520 |
7.780 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
16.391 |
7.655 |
15.612 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
36.699 |
39.338 |
54.779 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed dividend on equity shares |
8.857 |
8.857 |
13.286 |
|
|
|
Dividend distribution tax on proposed
dividend |
1.505 |
1.437 |
2.155 |
|
|
BALANCE CARRIED
TO THE B/S |
26.337 |
36.699 |
39.338 |
|
|
|
|
|
|
|
|
|
|
EARNING FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
65.475 |
34.378 |
3.073 |
|
|
TOTAL EARNINGS |
65.475 |
34.378 |
3.073 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.93 |
0.43 |
0.88 |
|
QUARTERLY RESULTS
|
Particulars |
30.09.2014 Unaudited |
|
Net Sales |
186.800 |
|
Total Expenditure |
174.300 |
|
PBIDT (Excl OI) |
12.500 |
|
Other Income |
6.600 |
|
Operating Profit |
19.000 |
|
Interest |
3.300 |
|
Exceptional Items |
0.000 |
|
PBDT |
15.700 |
|
Depreciation |
3.200 |
|
Profit Before Tax |
12.600 |
|
Tax |
2.900 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
9.600 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
9.600 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
2.23
|
1.27 |
3.41 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.27
|
7.38 |
12.33 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.53 |
1.57 |
3.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.02 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.16 |
0.23 |
0.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.97 |
3.55 |
3.53 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
177.148 |
177.148 |
177.148 |
|
Reserves & Surplus |
357.534 |
354.895 |
360.856 |
|
Net
worth |
534.682 |
532.043 |
538.004 |
|
|
|
|
|
|
long-term borrowings |
30.907 |
26.246 |
20.967 |
|
Short term borrowings |
78.853 |
93.520 |
67.778 |
|
Total
borrowings |
109.760 |
119.766 |
88.745 |
|
Debt/Equity
ratio |
0.205 |
0.225 |
0.165 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
457.286 |
598.075 |
734.466 |
|
|
|
30.788 |
22.805 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
457.286 |
598.075 |
734.466 |
|
Profit |
15.612 |
7.655 |
16.391 |
|
|
3.41% |
1.28% |
2.23% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by
Info Agents |
Available
in Report (Yes / No) |
|
1] |
Year of
Establishment |
Yes |
|
2] |
Locality of
the firm |
Yes |
|
3] |
Constitutions
of the firm |
Yes |
|
4] |
Premises
details |
No |
|
5] |
Type of
Business |
Yes |
|
6] |
Line of
Business |
Yes |
|
7] |
Promoter's
background |
Yes |
|
8] |
No. of
employees |
No |
|
9] |
Name of
person contacted |
No |
|
10] |
Designation
of contact person |
No |
|
11] |
Turnover of
firm for last three years |
Yes |
|
12] |
Profitability
for last three years |
Yes |
|
13] |
Reasons for
variation <> 20% |
------------------------- |
|
14] |
Estimation
for coming financial year |
No |
|
15] |
Capital in
the business |
Yes |
|
16] |
Details of
sister concerns |
Yes |
|
17] |
Major
suppliers |
No |
|
18] |
Major
customers |
Yes |
|
19] |
Payments
terms |
No |
|
20] |
Export /
Import details (if applicable) |
No |
|
21] |
Market
information |
------------------------ |
|
22] |
Litigations
that the firm / promoter involved in |
----------------------- |
|
23] |
Banking
Details |
Yes |
|
24] |
Banking
facility details |
Yes |
|
25] |
Conduct of
the banking account |
------------------------- |
|
26] |
Buyer visit
details |
-------------------------- |
|
27] |
Financials,
if provided |
Yes |
|
28] |
Incorporation
details, if applicable |
Yes |
|
29] |
Last accounts
filed at ROC |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10147018 |
15/09/2011 * |
44,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING
BRANCH (CBB), 1, SHAKESPEARE S |
B21276977 |
|
2 |
10054253 |
15/09/2011 * |
180,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING
BRANCH (CBB),, 1, SHAKESPEARE S |
B21278387 |
* Date of charge modification
REVIEW
OF
OPERATION
The company
result during the period is commendable. The turnover of
the Company has
increased
to Rs. 811.800
Millions from last year Rs.
657.600 Millions. As a result of which net profit increased from Rs.11.200 Millions to Rs. 24.500
Millions. Net profit after tax is Rs. 16.400
Millions more against Rs. 7.600 Millions in the previous year.
MANAGEMENT AND
DISCUSSION ANALYSIS
Industry Structure and Development
Glabal packaging industry is worth US$424 billion and out of this Europe has US$127 billion (30%), Asia has US114 billion (27%), North America has US$118 billion (28%), and other countries have US$6O billion (14%). The global plastic packaging materials and products market would reach US$262.6 billion by 20 15, according to Global Industry Analysts, Inc. Although the global economic recession subdued the US and European markets that make up the bulk of the plastic packaging industry, the industry is witnessing a resurgence driven by demand from emerging markets in the Asia-Pacific and Latin America, as well as unrelenting technological innovations. Following a brief lull during the onset of worldwide recession, demand for plastic packaging rebounded due to, the rising demand from the food and beverage and consumer retail products sector. Plastic materials are fast becoming the preferred choice of manufacture packaging new products. With the development of stronger and cost-effective materials with improved barrier protection, and aesthetic qualities, plastic is expected to further encroach into the territories dominated by metal, glass and paper packaging materials. India's Rs. 650000.000 Millions packaging industry is expected to grow at 18-20% to reach Rs. 8250.000 Millions by 2016. India's per capita consumption of packaging is only 4.3 kg per person per annum, as against Germany's 42 kg and China's 20 kg, which is very low compared to global standards which leaves a sizeable market untapped.
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Cash credit from
bank : (Above loan is secured against first charge by way of hypothecation of raw materials, stocks, book-debts, store and spares and all other current assets of the company both present and future, equitable mortgage of leasehold lands, hypothecation of all the movable fixed assets of the company, both present and future along with personal guarantee of directors) |
67.778 |
93.520 |
|
Total |
67.778 |
93.520 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH SEPTEMBER 2014
(Rs. in millions)
|
Sr. No. |
Particulars |
Quarter Ended |
Quarter Ended |
Half Year Ended |
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
||
|
Unaudited |
Unaudited |
Unaudited |
||
|
Part I |
|
|
|
|
|
1. |
Income from
Operations |
|
|
|
|
|
a)
Net Sales / Income from Operations |
186.769 |
188.810 |
375.579 |
|
|
b)
Other Operating Income |
-- |
31.015 |
-- |
|
|
Total
Income from Operations (net) |
|
|
|
|
2. |
Expenditure |
|
|
|
|
|
a)
Cost of materials consumed |
109.640 |
113.352 |
222.992 |
|
|
b)
Manufacturing Expenses |
25.228 |
18.887 |
44.115 |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
5.003 |
12.610 |
17.613 |
|
|
d)
Employee benefits expense |
15.163 |
10.605 |
25.768 |
|
|
e)
Depreciation and amortisation expense |
3.192 |
1.327 |
4.519 |
|
|
f) Administrative expenses |
2.878 |
2.296 |
5.174 |
|
|
g)
Selling and Distribution expenses |
16.405 |
16.522 |
32.927 |
|
|
Total Expenses |
177.510 |
175.600 |
353.109 |
|
3. |
Profit/ (Loss) from
Operations before Other Income, Exchange gain/(loss), Finance costs and
Exceptional items (1-2) |
9.259 |
13.210 |
22.470 |
|
4a. |
Other Income |
6.584 |
1.725 |
8.309 |
|
4b. |
Exchange
Gain / (Loss) (Net) |
-- |
-- |
-- |
|
5. |
Profit /(Loss)
from Ordinary activities before finance costs and Exceptional items (3+4a+4b) |
15.844 |
14.935 |
30.779 |
|
6. |
Finance Costs |
3.295 |
3.040 |
6.335 |
|
7. |
Profit / (Loss) from ordinary activities
after Finance costs but before Exceptional items (5-6) |
12.548 |
11.895 |
24.444 |
|
8. |
Profit/ (Loss) from ordinary activities
before tax |
12.548 |
11.895 |
24.444 |
|
9. |
Tax expenses |
|
|
|
|
|
a) Income Tax |
2.700 |
4.500 |
7.200 |
|
|
b) Tax adjustment for earlier years |
0.004 |
-- |
0.004 |
|
|
c) Deferred Tax |
0.234 |
(2.387) |
(2.153) |
|
10. |
Net Profit / (Loss) from ordinary
activities after tax (9-10) |
9.611 |
9.782 |
19.393 |
|
11. |
Extraordinary
items |
-- |
-- |
-- |
|
12. |
Net Profit / (Loss)
for the period (11+12) |
9.611 |
9.782 |
19.393 |
|
13. |
Paid-up equity share capital (Face Value of Rs. 10 per share) |
177.148 |
177.148 |
177.148 |
|
14. |
Reserve excluding Revaluation reserve |
|
|
|
|
15. |
Earnings Per Share (EPS) before and after extraordinary items (of Rs.
10/- each) a) Basic b) Diluted |
0.54 0.54 |
0.55 0.55 |
1.09 1.09 |
|
|
|
|
|
|
|
Part II |
|
|
|
|
|
A. |
PARTIULARS OF SHAREHOLDINGS |
|
|
|
|
|
Public
Shareholding |
|
|
|
|
|
- Number of Shares |
5069034 |
5069034 |
5069034 |
|
|
- Percentage of Shareholding |
28.61% |
28.61% |
28.61% |
|
|
Promoters and
Promoter Group Shareholding |
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
- Number of Shares |
Nil |
Nil |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
Nil |
Nil |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
Nil |
Nil |
Nil |
|
|
b) Non
Encumbered |
|
|
|
|
|
- Number of Shares |
12645766 |
12645766 |
12645766 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
100% |
100% |
100% |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
71.39% |
71.395 |
71.39% |
|
PARTICULARS |
For the quarter ended 30th September
2014 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
Nil |
|
Disposed during the quarter |
Nil |
|
Remaining unresolved at the end of the quarter |
Nil |
STANDALONE /
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES
|
Particulars |
As at 30.09.2014 |
|
|
|
Particulars |
|
|
A |
EQUITY AND
LIABILITIES |
|
|
1 |
Shareholder’s Funds |
|
|
|
a) Share Capital |
177.148 |
|
|
b) Reserves & Surplus |
380.249 |
|
|
Sub Total-
Shareholders funds |
557.397 |
|
2 |
Share application
money pending allotment |
|
|
3 |
Minority Interest |
|
|
4 |
Non-current
liabilities |
|
|
|
(a) Long term borrowings |
21.752 |
|
|
(b) Deferred tax liabilities (net) |
6.806 |
|
|
(c) Long term provisions |
1.181 |
|
|
Sub Total- Non
Current Liabilities |
29.740 |
|
5 |
Current liabilities |
|
|
|
(a) Short term borrowings |
81.910 |
|
|
(b) Trade Payables |
38.593 |
|
|
(c) Other current liabilities |
15.091 |
|
|
(d) Short term provisions |
7.200 |
|
|
Sub Total- Current
Liabilities |
142.794 |
|
|
TOTAL-EQUITY AND
LIABILITIES |
729.930 |
|
B |
ASSETS |
|
|
1 |
Non-current assets |
|
|
|
(a) Fixed assets |
123.818 |
|
|
(b) Long term loans and advances |
0.000 |
|
|
(c) Other non-current assets |
8.760 |
|
|
Sub-Total- Non
current assets |
132.579 |
|
2 |
Current assets |
|
|
|
a) Current Investments |
0.000 |
|
|
b) Inventories |
94.905 |
|
|
c) Trade Receivables |
83.908 |
|
|
d) Cash and cash equivalents |
279.895 |
|
|
(e) Short term loans and advances |
132.550 |
|
|
(f) Other current assets |
6.094 |
|
|
Sub-Total- current
assets |
597.352 |
|
|
TOTAL ASSETS |
729.930 |
FIXED ASSETS
·
Leasehold lands
·
Factory Buildings
·
Air Condition Machine
·
Plant and machineries
·
Electric installation
·
Furniture and fixture
·
Vehicles
·
Office Equipment
·
Computers
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. |
|
|
1 |
Rs. |
|
Euro |
1 |
Rs. |
INFORMATION DETAILS
|
Information
Gathered by : |
|
|
|
|
|
Analysis Done by
: |
|
|
|
|
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
|
|
PAID-UP CAPITAL |
1~10 |
|
|
OPERATING SCALE |
1~10 |
|
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
|
|
--PROFITABILITY |
1~10 |
|
|
--LIQUIDITY |
1~10 |
|
|
--LEVERAGE |
1~10 |
|
|
--RESERVES |
1~10 |
|
|
--CREDIT LINES |
1~10 |
|
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
|
|
--LITIGATION |
YES/NO |
|
|
--OTHER ADVERSE INFORMATION |
YES/NO |
|
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
|
|
--EXPORT ACTIVITIES |
YES/NO |
|
|
--AFFILIATION |
YES/NO |
|
|
--LISTED |
YES/NO |
|
|
--OTHER MERIT FACTORS |
YES/NO |
|
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
|
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.