MIRA
INFORM REPORT
|
Report No. : |
305181 |
|
Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
RCI INDUSTRIES AND TECHNOLOGIES LIMITED |
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Registered
Office : |
B-97, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
07.01.1992 |
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Com. Reg. No.: |
55-047055 |
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Capital
Investment / Paid-up Capital : |
Rs.108.994 Millions |
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CIN No.: [Company Identification
No.] |
L74900DL1992PLC047055 |
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TIN No.: |
Not Available |
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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
: |
Trading of Metals. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1230000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. As per available financial of 2013-14 the company has reported low
profitability. External borrowing seems to be increasing considerably which is
affecting liquidity of the company. However, trade relation seems to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for business dealings with some caution.
s |
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 |
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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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Mr. Abhishek |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-11-27372194 |
|
Date : |
24.01.2015 |
LOCATIONS
|
Registered Office : |
B-97, All Heavens Building, Wazirpur Ring Road, Delhi – 110052, India |
|
Tel. No.: |
91-11-27372194 |
|
Fax No.: |
91-11-27371334 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Rajeev Gupta |
|
Designation : |
Managing Director |
|
Address : |
D-11/18, 1st Floor, Model Town-II, New Delhi - 110009, India |
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Date of Birth / Age : |
10.10.1967 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
17.01.1992 |
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DIN No.: |
00503196 |
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|
|
Name : |
Mrs. Gupta Mamta |
|
Designation : |
Director |
|
Address : |
D 11/18, Front Side, Model Town II, Delhi - 110009, India |
|
Date of Appointment : |
24.01.2009 |
|
DIN No.: |
00503302 |
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|
Name : |
Mr. Raj Singh Jamwal |
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Designation : |
Director |
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Address : |
307, Lane No. 4, Opposite Ved Mandir, Karan Nagar, Jammu - 180001,
Jammu And Kashmir, India |
|
Date of Appointment : |
30.09.2013 |
|
DIN No.: |
06698519 |
KEY EXECUTIVES
|
Name : |
Mr. Abhishek Kedia |
|
Designation : |
Company Secretary and Comlipance Officer |
|
Address : |
D-5, Part 2, Second Floor, Main Market, Shakarpur, New Delhi - 110092, India |
|
Date of Appointment : |
18.03.2014 |
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PAN No.: |
CLNPK4928B |
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Nomination and Remuneration Committee : |
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Name : |
Mr. Raj Singh Jamwal |
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Designation : |
Chairman |
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Name : |
Mr. Praveen Aggarwal |
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Designation : |
Member |
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Name : |
Mrs. Gupta Mamta |
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Designation : |
Member |
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Audit Committee : |
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|
Name : |
Mr. Raj Singh Jamwal |
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Designation : |
Chairman |
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|
Name : |
Mr. Praveen Aggarwal |
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Designation : |
Member |
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Name : |
Mr. Rajeev Gupta |
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Designation : |
Member |
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Shareholder Grievance Committee : |
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|
Name : |
Mr. Raj Singh Jamwal |
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Designation : |
Chairman |
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Name : |
Mr. Praveen Aggarwal |
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Designation : |
Member |
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|
Name : |
Mr. Rajeev Gupta |
|
Designation : |
Member |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
4776465 |
43.82 |
|
|
3240150 |
29.73 |
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|
8016615 |
73.55 |
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|
|
|
Total shareholding of Promoter and Promoter Group (A) |
8016615 |
73.55 |
|
(B) Public Shareholding |
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|
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|
132000 |
1.21 |
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|
132000 |
1.21 |
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|
93000 |
0.85 |
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|
|
|
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|
290800 |
2.67 |
|
|
2367000 |
21.72 |
|
|
2750800 |
25.24 |
|
Total Public shareholding (B) |
2882800 |
26.45 |
|
Total (A)+(B) |
10899415 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
10899415 |
0.00 |
Individual shareholders holding nominal share
capital up to Rs.0.100 million
BUSINESS DETAILS
|
Line of Business : |
Trading of Metals. |
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Products : |
Metals |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information denied by management |
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Bankers : |
·
State Bank of India ·
Yes Bank Limited |
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Facilities : |
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Auditors : |
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Name : |
RPMD and Associates Chartered Accountants |
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Address : |
AA-8, First Floorm Shalimar Bagh, Delhi – 110088, India |
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Memberships : |
-- |
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Collaborators : |
-- |
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Subsidiary : |
·
RCI World Trade Link DMCC |
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Investment in partnership firm : |
·
Satya Metals |
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Enterprises in which KMP / relatives of KMP can exercise significant influence
: |
·
ACE Matrix and Solutions Limited ·
Mamta Global Private Limited ·
All Heavens Restaurant Private Limited ·
Metal Rod Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10899415 |
Equity Shares |
Rs.10/- each |
Rs.108.994 Millions |
Reconciliation of
the number of shares
|
Equity Shares |
|
Number of Shares |
|
Shares outstanding at the beginning of the year |
|
6606915 |
|
Shares issued during the year |
|
4292500 |
|
Shares
outstanding at the end of the year |
|
10899415 |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
ACE Matrix and Solutions Limited |
1751900 |
16.07 |
|
Ace Trade Solutions Private Limited |
595750 |
5.47 |
|
Kamlesh Shantilalji Jain |
606000 |
5.56 |
|
Mamta Gupta |
409090 |
3.75 |
|
Metal Rod Limited |
812500 |
7.45 |
|
Rajeev Gupta |
4364720 |
40.50 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
108.994 |
66.069 |
|
(b) Reserves & Surplus |
|
319.760 |
186.626 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
428.754 |
252.695 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.613 |
0.918 |
|
(b) Deferred tax liabilities (Net) |
|
0.816 |
1.088 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.208 |
0.000 |
|
Total Non-current Liabilities (3) |
|
1.637 |
2.006 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
260.955 |
243.636 |
|
(b) Trade payables |
|
309.537 |
296.391 |
|
(c) Other current
liabilities |
|
91.941 |
21.406 |
|
(d) Short-term provisions |
|
3.609 |
0.663 |
|
Total Current Liabilities (4) |
|
666.042 |
562.096 |
|
|
|
|
|
|
TOTAL |
|
1,096.433 |
816.797 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
11.372 |
12.935 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
1.808 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
6.985 |
20.122 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
20.165 |
33.057 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
199.287 |
112.651 |
|
(b) Inventories |
|
160.303 |
174.027 |
|
(c) Trade receivables |
|
552.456 |
361.375 |
|
(d) Cash and cash
equivalents |
|
31.167 |
24.415 |
|
(e) Short-term loans and
advances |
|
130.673 |
109.956 |
|
(f) Other current assets |
|
2.382 |
1.316 |
|
Total Current Assets |
|
1,076.268 |
783.740 |
|
|
|
|
|
|
TOTAL |
|
1,096.433 |
816.797 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
|
4,277.893 |
2,768.581 |
|
|
|
|
Other Income |
|
3.582 |
1.417 |
|
|
|
|
TOTAL (A) |
|
4,281.475 |
2,769.998 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Purchase of Stock-in-trade |
|
4,069.142 |
2,627.570 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
|
13.724 |
72.887 |
|
|
|
|
Employee Benefits Expenses |
|
4.078 |
1.969 |
|
|
|
|
Other Expenses |
|
131.173 |
19.008 |
|
|
|
|
TOTAL (B) |
|
4,218.117 |
2,721.434 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
63.358 |
48.564 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
|
39.877 |
34.838 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
|
23.481 |
13.726 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
|
2.248 |
2.748 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
|
21.233 |
10.978 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
|
3.337 |
0.577 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
|
17.896 |
10.401 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
92.266 |
81.865 |
||
|
|
|
|
|
|
||
|
|
|
|
|
|
||
|
Less |
EXCESS PROVISION
OF INCOME TAX / INCOME W/OFF |
|
9.044 |
0.000 |
||
|
|
|
|
|
|
||
|
Less |
PROVISION FOR
GRATUITY OF EARLIER YEAR |
|
0.144 |
0.000 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED TO
THE B/S |
|
100.974 |
92.266 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
|
767.908 |
157.251 |
|
|
|
TOTAL EARNINGS |
|
767.908 |
157.251 |
||
|
|
|
|
|
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||
|
|
IMPORTS |
|
|
|
||
|
|
|
Traded Goods |
|
1244.596 |
539.172 |
|
|
|
TOTAL IMPORTS |
|
1244.596 |
539.172 |
||
|
|
|
|
|
|
||
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
2.22 |
1.62 |
||
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT/Sales) |
(%) |
|
0.42 |
0.38 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
|
1.48 |
1.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.94 |
1.34 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
0.61 |
0.97 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.62 |
1.39 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
|
66.069 |
108.994 |
|
Reserves & Surplus |
|
186.626 |
319.760 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net
worth |
|
252.695 |
428.754 |
|
|
|
|
|
|
Long Term borrowings |
|
0.918 |
0.613 |
|
Short Term borrowings |
|
243.636 |
260.955 |
|
Total
borrowings |
|
244.554 |
261.568 |
|
Debt/Equity
ratio |
|
0.968 |
0.610 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
|
2,768.581 |
4,277.893 |
|
|
|
|
54.516 |
NET PROFIT MARGIN
|
Net
Profit Margin |
|
31.03.2013 |
31.03.2014 |
|
|
|
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
|
2,768.581 |
4,277.893 |
|
Profit |
|
10.401 |
17.896 |
|
|
|
0.38% |
0.42% |
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 |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Millions |
31.03.2013 Rs. In Millions |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and
advances from related parties |
0.180 |
0.180 |
|
Total |
0.180 |
0.180 |
PERFORMANCE REVIEW
The company achieved an all-time high performance both in turnover and its profits. The Gross revenues touched Rs.4277.900 Millions and the Profit after taxes recorded was Rs.17.900 Millions. The company coupled high level of modernization with, concentrated efforts of both Management and employees, the whole hearted support of Banks, suppliers and customers to attain these levels of performance. The earnings per equity share (of face value Re. 10) for the year increased to Rs.2.22 from Rs.1.62 for the previous year.
FUTURE PROSPECTS
Despite stiff competition from other countries, international buyers show preference to your company`s product for its quality and timely delivery and hence the Directors are confident of achieving better working results in the coming years.
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED
30TH SEPTEMBER 2014
(Rs. In Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
2533.674 |
2706.054 |
2533.674 |
|
b) Other operating income |
27.241 |
51.243 |
27.241 |
|
Total
income from Operations(net) |
2560.915 |
2757.297 |
2560.915 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
(178.084) |
47.130 |
(178.084) |
|
b) Purchases of stock in trade |
719.415 |
0.000 |
719.415 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
1955.537 |
2599.622 |
1955.537 |
|
d) Employees benefit expenses |
3.250 |
2.070 |
3.250 |
|
e) Depreciation and amortization expenses |
2.158 |
1.124 |
2.158 |
|
f) Other expenditure |
13.870 |
78.143 |
13.870 |
|
Total expenses |
2516.146 |
2728.089 |
2516.146 |
|
3. Profit from operations before other income and
financial costs |
44.769 |
29.208 |
44.769 |
|
4. Other income |
4.051 |
0.240 |
4.051 |
|
5. Profit from ordinary activities before finance costs |
48.820 |
29.448 |
48.820 |
|
6. Finance costs |
32.454 |
15.826 |
32.454 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
16.366 |
13.622 |
16.366 |
|
8.
Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
16.366 |
13.622 |
16.366 |
|
10.Tax expenses |
5.057 |
2.139 |
5.057 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
11.309 |
11.483 |
11.309 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
11.309 |
11.483 |
11.309 |
|
14.Paid-up
equity share capital (Nominal value Rs.10/- per share) |
108.994 |
66.069 |
108.994 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary
items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic |
1.04 |
1.74 |
1.74 |
|
(b) Diluted |
1.04 |
1.74 |
1.74 |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
2882800 |
2800 |
2882800 |
|
- Percentage of shareholding |
26.45% |
0.004% |
26.45% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
-- |
|
-- |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
-- |
|
-- |
|
Percentage of shares (as a % of total share capital of the
company) |
-- |
|
-- |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
8016615 |
6604115 |
8016615 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
100.00% |
100.00% |
100.00% |
|
Percentage of shares (as a % of total share capital of the
company) |
73.55% |
99.96% |
73.55% |
Notes
1. The Audited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 30, 2014.
2. The Company does not have more than one reportable primary segment in terms of Accounting Standard 17 (AS 17 - Segment Reporting) issued by ICAI / Company (Accounting Standards) Rules, 2006, therefore the Company is not required to submit separate segment wise report.
3. Figures of the previous year have been re-grouped / re-arranged wherever considered necessary. Previous year figures of consolidated results have not been incorporated because the subsidiary was set up during the year. There is no minority interests because the only subsidiary of the Company is wholly owned subsidiary.
4. The financial result has been prepared on the basis of accrual accounting policy and in accordance with uniform accounting practices adopted for all the periods
5. The company has utilized the funds for those purpose mentioned in the prospectus. The details of utilization and material variation, if any, along with explanation will be provided in Directors Report.
UNAUDITED
STATEMENT OF ASSETS AND LIABILITIES AS AT 30TH SEPTEMBER 2014
|
SOURCES OF FUNDS |
|
|
30.09.2014 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
108.994 |
|
(b) Reserves & Surplus |
|
|
331.069 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
|
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
|
|
440.063 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
0.434 |
|
(b) Deferred tax liabilities (Net) |
|
|
0.816 |
|
(c) Other long term liabilities |
|
|
0.000 |
|
(d) long-term provisions |
|
|
0.208 |
|
Total Non-current Liabilities (3) |
|
|
1.458 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
542.809 |
|
(b) Trade payables |
|
|
519.578 |
|
(c) Other current
liabilities |
|
|
73.667 |
|
(d) Short-term provisions |
|
|
15.180 |
|
Total Current Liabilities (4) |
|
|
1,151.234 |
|
|
|
|
|
|
TOTAL |
|
|
1,592.755 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
26.433 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
1.811 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
20.114 |
|
(e) Other Non-current assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
48.358 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
652.224 |
|
(c) Trade receivables |
|
|
654.543 |
|
(d) Cash and cash
equivalents |
|
|
60.911 |
|
(e) Short-term loans and
advances |
|
|
173.817 |
|
(f) Other current assets |
|
|
2.902 |
|
Total Current Assets |
|
|
1,544.397 |
|
|
|
|
|
|
TOTAL |
|
|
1,592.755 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10544161 |
26/12/2014 |
50,000,000.00 |
Union Bank Of India Limited |
334/350, Ground Floor, Khazoor Road( Joshi Road), Karol Bagh, New Delhi, Delhi - 110015, India |
C40865644 |
|
2 |
10507042 |
13/06/2014 |
130,000,000.00 |
Oriental Bank Of Commerce |
H-15, Cannaught Circus, Delhi, Delhi - 110001, India |
C09897224 |
|
3 |
10504121 |
07/05/2014 |
400,000,000.00 |
Union Bank Of India Limited |
334/350, Ground Floor, Khazoor Road( Joshi Road), Karol Bagh, New Delhi, Delhi - 110015, India |
C07271208 |
|
4 |
10356740 |
29/03/2012 |
75,000,000.00 |
Jammu And Kashmir Bank Limited |
205 - B, Ansal Plaza, Hudco Place, Khel Gaon Marg, Andrews Ganj, New Delhi, Delhi - 110049, India |
B39853312 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.61.87 |
|
UK Pound |
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
35 |
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.