MIRA INFORM REPORT
|
Report No. : |
309290 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIME TECHNOPLAST LIMITED |
|
|
|
|
Formerly known
as : |
TIME PACKAGING LIMITED [w.e.f.1992] TIME PACKAGING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Office No. 213, Sabari Apartments,
Building No. 1, Survey No. 387, Dungri Falia, Kachigam, Daman - 396210, Daman
and Dui (U.T.) |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
20.12.1999 |
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|
|
|
Com. Reg. No.: |
56-003240 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.210.118 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27203DD1989PLC003240 |
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|
|
|
IEC No.: |
0390025941 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT08803E |
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|
|
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PAN No.: [Permanent Account No.] |
AAACT2783J |
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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 Polymer Packaging Products. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
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 |
|
Maximum Credit Limit : |
USD 21970000 |
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|
|
|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and a reputed company having fine track
record. Financial position of the company appears to be sound. Trade relations
are reported as fair. Business is active. Payments are reported to be regular
and as per commitments. The company can be considered normal 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
February 06, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
February 06, 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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr.
Ashok Shukla |
|
Designation : |
Export-Import
Department |
|
Contact No.: |
91-22-28039700 |
|
Date : |
21.02.2015 |
LOCATIONS
|
Registered Office : |
Office No. 213, Sabari Apartments,
Building No. 1, Survey No. 387, Dungri Falia, Kachigam, Daman - 396210, Daman
and Dui (U.T.), India |
|
Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Area : |
10000
Sq. ft. |
|
Location : |
Owned
|
|
|
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Corporate Office 1 : |
102, Todi Complex, 35, Saki Vihar Road,
Andheri (East), Mumbai - 400072, Maharashtra, India |
|
Tel No.: |
91-22-28039999/
42119999 |
|
Fax No.: |
91-22-28575672 |
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E-Mail : |
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|
Corporate Office 2/ Head Office : |
2nd Floor, 55, Corporate Avenue, Saki Vihar Road, Andheri (East), Mumbai - 400072, Maharashtra, India |
|
Tel No.: |
91-22-28039999/ 28039700/ 71119999/ 71119000/ 42119999 |
|
Fax No.: |
91-22-28575672 |
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|
|
|
Factories : |
Located At : · Jammu · Baddi · Panthnagar · Bhuj · Ahmedabad · Panoli · Daman · Talasari · Umbergaon · Silvassa · Pen · Mahad · Hubli · Bangalore · Hosur · Gummidipundi · Hyderabad · Kolkata |
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|
|
|
Regional Offices : |
Located At : ·
·
·
·
Chennai ·
·
·
Kolkata ·
Sahibabad R.O. (Delhi) · Trivandrum |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr.
K. N. Venkatasubramanian |
|
Designation : |
Chairman
(Non-Executive and Independent) |
|
|
|
|
Name : |
Mr.
Anil Jain |
|
Designation : |
Managing
Director |
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|
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|
Name : |
Mr.
Bharat Vageria |
|
Designation : |
Whole
Time Director – Finance |
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|
|
|
Name : |
Mr.
Naveen Jain |
|
Designation : |
Whole
Time Director- Technical |
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|
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|
Name : |
Mr.
Raghupathy Thyagarajan |
|
Designation : |
Whole
Time Director- Marketing |
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|
|
|
Name : |
Mr.
Sanjaya Kulkarni |
|
Designation : |
Director
(Non-Executive and Independent) |
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|
|
|
Name : |
Mr.
M. K. Wadhwa |
|
Designation : |
Director
(Non-Executive and Independent) |
|
|
|
|
Name : |
Mr. Kartik
C Parija |
|
Designation : |
Director
(Non-Executive and Independent) |
|
Date of Appointment : |
09.03.2007 |
|
|
|
|
Name : |
Mrs.
Monika Shrivastava |
|
Designation : |
Director
(Non-Executive) |
KEY EXECUTIVES
|
Name : |
Mr.
Atul Gupta |
|
Designation : |
Vice
President- Finance |
|
|
|
|
Name : |
Mr.
Niklank Jain |
|
Designation : |
VP-legal
and Company Secretary |
|
|
|
|
Name : |
Mr.
Ashok Shukla |
|
Designation : |
Export-Import
Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2014
|
Category of Shareholder |
Total
No. of Shares |
As a % |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
17346258 |
8.26 |
|
|
107472371 |
51.15 |
|
|
92968 |
0.04 |
|
|
92968 |
0.04 |
|
|
124911597 |
59.45 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
124911597 |
59.45 |
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
19086496 |
9.08 |
|
|
160394 |
0.08 |
|
|
36982909 |
17.60 |
|
|
56229799 |
26.76 |
|
|
|
|
|
|
5187567 |
2.47 |
|
|
|
|
|
|
10871860 |
5.17 |
|
|
4443349 |
2.11 |
|
|
8473578 |
4.03 |
|
|
633531 |
0.30 |
|
|
1008667 |
0.48 |
|
|
3498567 |
1.67 |
|
|
105231 |
0.05 |
|
|
3227582 |
1.54 |
|
|
28976354 |
13.79 |
|
Total Public
shareholding (B) |
85206153 |
40.55 |
|
Total (A)+(B) |
210117750 |
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) |
210117750 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polymer Packaging Products. |
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|
|
|
Brand Names : |
'Meadowz' 'DuroTurf' 'Regal' |
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|
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|
Agencies Held : |
-- |
|
|
|
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Exports : |
|
|
Products : |
Polymer Packaging Products |
|
Countries : |
· Belgium · China · Egypt · Korea · Malaysia |
|
|
|
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Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Qatar |
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|
|
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Terms : |
|
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Selling : |
Cash, L/C and Credit [30 Days, 60 Days and 90 Days] |
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Purchasing : |
Cash, L/C and Credit [30 Days, 60 Days and 90 Days] |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End Users and OEM’s
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No. of Employees : |
500 (Approximately) |
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Bankers : |
· Bank of Baroda · ING Vysya Bank Limited · Axis Bank Limited · DBS Bank Limited · Citi Bank NA · Indusind Bank Limited · The Hong Kong Shanghai Banking Corporation Limited · HDFC Bank Limited · The Ratnakar Bank Limited · IDBI Bank Limited · The Royal Bank of Scotland NV |
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Facilities : |
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Financial Institutions : |
· Tata Capital Financial Services Limited · GE Money Financial Services Private Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Raman
S. Shah and Company Chartered
Accountants |
|
|
|
|
Common Key
Managerial Persons : |
v Avion Exim Private Limited v Vishwalaxmi Trading and Finance Private Limited v Time Exports Private Limited v Apex Plastics v Time Securities Services Private Limited v ACE Moulding Limited v Bharat
Infrastructures Private Limited |
|
|
|
|
Subsidiary Company : |
v
TPL Plastech Limited v
Elan Incorporated FZE v
Novo Tech Spz.o.o., v
NED Energy Limited v
Kampozit Praha s.r.o. v
Ikon Investment Holdings Limited v GNXT Investment
Holding Pte Limited |
|
|
|
|
Fellow Subsidiary : |
v
Gulf Powerbeat W.L.L Fellow Subsidiary v
Technika Corporation F.Z.E v
Tianjin Elan Plastech Company Limited v
YPA Thailand (Limited) v
Pack Delta Public Company Limited v
Powerbuild Batteries Private Limited v
Yung Hsin Contain Industry Company Limited v
Grasstech SRL v
PT Novo Complast v
Tech Complast v
Grasstech BVBA v
Excel Plastech Company Limited v
Qpack Industries SDN BHD v Pack Delta Pte
Limited |
|
|
|
|
Joint Venture : |
v
Time Mauser Industries Private Limited v
Schoeller Allibert Time Material Handling
Solutions Limited v
Nile Egypt Plastech Industries S.A.E. v
Guangzhou Fanshun Elan Plastech Company Limited v Schoeller Allibert
Time Holding Pte Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Re. 1/- each |
Rs. 250.000 Millions |
|
2500000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs. 25.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 275.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210117750 |
Equity Shares |
Re. 1/- each |
Rs. 210.118 Millions |
|
|
|
|
|
Of the Above
Includes
(I) 19,905,000 Shares were allotted as fully paid-up pursuant to the Scheme of Amalgamation of erstwhile Shalimar Packaging Private Limited and Oxford Mouldings Private Limited with the company without payment received in cash.
(II) 78,525,000 Shares were allotted as fully paid-up by way of Bonus shares by capitalisation of Share Premium Account and General Reserves.
(III) 852,750 Shares were allotted as fully paid-up under ESOP scheme.
(IV) The Equity Shares of Rs.10/- each of the Company have been sub divided into Equity Shares of Rs. 1 each with effect from 6th November 2008.
a) Rights of Equity Shareholders
The Company has only one class of Equity Shares having par value of Re. 1 each, holder of equity shares is entitled to one vote per share. In the event of liquidation of the Company, the holder of equity shares will be entitled to receive any of the remaining assets of the Company.
b) Reconciliation of numbers of equity shares
|
Particulars |
31.03.2014 |
|
|
|
Number |
Rs. In Millions |
|
Shares outstanding at the beginning of the year |
210117750 |
210.118 |
|
Shares issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
210117750 |
210.118 |
c) Details of members holding equity shares
more than 5%
|
Name of
Shareholders |
31.03.2014 |
|
|
|
No. of
Shares held |
% of Holding |
|
(a) Time Securities Services Private Limited |
42177098 |
20.07% |
|
(b) Vishwalaxmi Trading and Finance Private Limited |
39772667 |
18.93% |
|
(c) Time Exports Private Limited |
28547606 |
13.59% |
|
(d) HDFC Trustee Company Limited – HDFC Equity Fund AAATH1809A |
18165996 |
8.65% |
|
(e) American Funds Insurance Series Global Small Capitalization Fund |
11888000 |
5.66% |
|
(f) Core International FZC |
10719900 |
5.10% |
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 |
210.118 |
210.118 |
210.118 |
|
(b) Reserves & Surplus |
7480.997 |
6802.687 |
6132.205 |
|
(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) |
7691.115 |
7012.805 |
6342.323 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1766.037 |
1480.288 |
1715.105 |
|
(b) Deferred tax liabilities (Net) |
306.200 |
276.645 |
233.103 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
2072.237 |
1756.933 |
1948.208 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
2527.478 |
2461.249 |
1893.994 |
|
(b)
Trade payables |
1538.397 |
1311.437 |
1112.312 |
|
(c)
Other current liabilities |
858.587 |
904.395 |
662.691 |
|
(d)
Short-term provisions |
374.228 |
413.908 |
393.231 |
|
Total
Current Liabilities (4) |
5298.690 |
5090.989 |
4062.228 |
|
|
|
|
|
|
TOTAL |
15062.042 |
13860.727 |
12352.759 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
5786.829 |
4822.211 |
4381.538 |
|
(ii)
Intangible Assets |
14.383 |
12.433 |
17.618 |
|
(iii)
Capital work-in-progress |
403.506 |
1058.563 |
953.466 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
1498.990 |
1445.749 |
1605.477 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
82.514 |
79.347 |
68.416 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
7786.222 |
7418.303 |
7026.515 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
2339.226 |
2109.601 |
1731.491 |
|
(c)
Trade receivables |
2670.569 |
2248.998 |
1983.148 |
|
(d)
Cash and cash equivalents |
312.937 |
256.995 |
216.628 |
|
(e)
Short-term loans and advances |
1943.221 |
1818.546 |
1389.011 |
|
(f)
Other current assets |
9.867 |
8.284 |
5.966 |
|
Total
Current Assets |
7275.820 |
6442.424 |
5326.244 |
|
|
|
|
|
|
TOTAL |
15062.042 |
13860.727 |
12352.759 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
12180.263 |
10665.580 |
9207.391 |
|
|
|
Other Income |
234.849 |
43.040 |
58.423 |
|
|
|
TOTAL (A) |
12415.112 |
10708.620 |
9265.814 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
8539.736 |
7224.118 |
6235.272 |
|
|
|
Manufacturing and Operating Costs |
628.499 |
533.567 |
447.900 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
-123.145 |
-152.898 |
-134.234 |
|
|
|
Employees benefits expense |
453.640 |
391.493 |
327.767 |
|
|
|
Other expenses |
849.525 |
729.331 |
610.483 |
|
|
|
TOTAL (B) |
10348.255 |
8725.611 |
7487.188 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2066.857 |
1983.009 |
1778.626 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
613.974 |
563.915 |
444.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1452.883 |
1419.094 |
1334.071 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
439.801 |
402.444 |
356.035 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1013.082 |
1016.650 |
978.036 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
209.704 |
261.193 |
241.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
803.378 |
755.457 |
736.044 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
517.018 |
739.244 |
819.275 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Materials |
3913.423 |
3565.402 |
2784.646 |
|
|
|
Capital Goods |
39.400 |
127.075 |
478.613 |
|
|
|
Stores & Spares |
2.868 |
1.605 |
1.146 |
|
|
TOTAL IMPORTS |
3955.691 |
3694.082 |
3264.405 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
3.82 |
3.60 |
3.51 |
|
|
|
Diluted |
3.74 |
3.52 |
3.43 |
|
Expected Sales (2014-2015): Rs. 1500.000 Millions
The above information has been parted by Mr. Ashok Shukla [Export-Import
Department]
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
2943.000 |
3321.000 |
3463.300 |
|
Total Expenditure |
2490.100 |
2809.500 |
2946.200 |
|
PBIDT (Excl OI) |
452.900 |
511.500 |
517.100 |
|
Other Income |
0.000 |
11.700 |
0.000 |
|
Operating Profit |
452.900 |
523.200 |
517.100 |
|
Interest |
162.100 |
168.200 |
157.200 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
290.700 |
355.100 |
359.900 |
|
Depreciation |
124.100 |
134.200 |
138.100 |
|
Profit Before Tax |
166.600 |
220.900 |
221.800 |
|
Tax |
45.000 |
54.800 |
66.100 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
121.700 |
166.100 |
155.700 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
121.700 |
166.100 |
155.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
6.60 |
7.08 |
7.99 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT / Sales) |
(%) |
16.97 |
18.59 |
19.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.70 |
8.95 |
9.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.56 |
0.56 |
0.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37 |
1.27 |
1.31 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
210.118 |
210.118 |
210.118 |
|
Reserves & Surplus |
6132.205 |
6802.687 |
7480.997 |
|
Net
worth |
6342.323 |
7012.805 |
7691.115 |
|
|
|
|
|
|
Long-term borrowings |
1715.105 |
1480.288 |
1766.037 |
|
Short term borrowings |
1893.994 |
2461.249 |
2527.478 |
|
Total
borrowings |
3609.099 |
3941.537 |
4293.515 |
|
Debt/Equity ratio |
0.569 |
0.562 |
0.558 |
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 |
9207.391 |
10665.580 |
12180.263 |
|
|
|
15.837 |
14.202 |
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 |
9207.391 |
10665.580 |
12180.263 |
|
Profit |
736.044 |
755.457 |
803.378 |
|
|
7.99% |
7.08% |
6.60% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10503432 |
25/09/2014 * |
400,000,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
ONE FORBES, DR.
V. B. GANDHI MARG, FORT, MUMBAI, |
C38260907 |
|
2 |
10481279 |
20/02/2014 |
250,000,000.00 |
THE HONGKONG AND
SHANGHAI BANKING CORPORATION LIMITED |
52/60 MAHATMA
GANDHI ROAD, P O BOX 128, MUMBAI, MAHARASHTRA - 400001, INDIA |
B97925028 |
|
3 |
10475238 |
30/01/2014 |
330,000,000.00 |
IDBI BANK
LIMITED |
SPECIALISED
CORPORATE BRANCH, 5TH FLOOR, PLOT NO |
B95360152 |
|
4 |
10464392 |
30/07/2014 * |
750,000,000.00 |
GE MONEY
FINANCIAL SERVICES PRIVATE LIMITED |
401 402 4TH FLOORAGGARWAL
MILLENIUM TOWER, E1 2 3 NETAJI SUBHASH PLACE, PITAMPURA DELHI, DELHI -
110034, INDIA |
C18002279 |
|
5 |
10464058 |
20/11/2013 |
220,500,000.00 |
BANK OF BARODA |
APPLE HERITAGE,
GROUND FLOOR, 54-C, SIR MATHURDAS |
B91064667 |
|
6 |
10456339 |
08/10/2013 |
320,000,000.00 |
STANDARD
CHARTERED BANK |
NARAIN MANZIL,
23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B88064191 |
|
7 |
10430627 |
29/05/2013 |
500,000,000.00 |
INDUSIND BANK
LIMITED |
DR. GOPAL DAS
BHAWAN,, 28, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B76917301 |
|
8 |
10392958 |
05/12/2012 |
100,000,000.00 |
ING VYSYA BANK
LIMITED |
103/104,'A'
WING,I FLOOR, FLORAL DECK PLAZA, MID |
B64509730 |
|
9 |
10390501 |
02/07/2013 * |
500,000,000.00 |
ING VYSYA BANK
LIMITED |
NARIAN MANZIL,
GROUND FLOOR, SHOP NO. G1 TO G5, I FLOOR, SHOP NO.1001 TO 1007,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B80359789 |
|
10 |
10372555 |
13/08/2012 |
150,000,000.00 |
THE ROYAL BANK
OF SCOTLAND NV |
7TH FLOOR,
SAKHAR BHAVAN, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B56385396 |
|
11 |
10368605 |
18/07/2012 |
500,000,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND
FLR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B44931889 |
|
12 |
10359696 |
24/05/2012 |
500,000,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW G |
B41236142 |
|
13 |
10314200 |
15/05/2012 * |
240,000,000.00 |
STANDARD
CHARTERED BANK |
NARAIN MANZIL,, 23,
BARAKHAMBA ROAD, DELHI, DELHI - 110001, INDIA |
B39424320 |
|
14 |
10314348 |
14/09/2011 |
480,000,000.00 |
STANDARD
CHARTERED BANK |
NARAIN MANZIL,
23, BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B24000879 |
|
15 |
10292704 |
30/05/2011 |
460,000,000.00 |
DBS BANK LIMITED |
221, FORT HOUSE,
3RD FLOOR, D.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B15173560 |
|
16 |
10255249 |
14/09/2011 * |
368,000,000.00 |
STANDARD
CHARTERED BANK |
NARAIN MANZIL, 23,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
B23916133 |
|
17 |
10247983 |
01/09/2010 |
372,000,000.00 |
STANDARD
CHARTERED BANK (ACTING AS AN SECURITY AGENT) |
CREDIT RISK
CONTROL, NARAIN MANZIL, 23 BARAKHAMBA |
A94250768 |
|
18 |
10152654 |
12/11/2014 * |
900,000,000.00 |
INDUSIND BANK
LIMITED |
2401 GEN
THIMMAYYA ROAD, CONTONMENT, PUNE, MAHARASHTRA - 411001, INDIA |
C34410506 |
|
19 |
10140152 |
23/07/2014 * |
549,100,000.00 |
BANK OF BARODA |
APPLE HERITAGE,
GROUND FLOOR 54-C, SIR MATHURDAS |
C14831762 |
|
20 |
10117918 |
15/11/2011 * |
529,100,000.00 |
BANK OF BARODA |
APPLE HERITAGE, GROUND
FLOOR, 54-C, SIR MATHURDAS |
B26935262 |
|
21 |
10117916 |
23/07/2014 * |
549,100,000.00 |
BANK OF BARODA |
APPLE HERITAGE,
GROUND FLOOR, 54-C, SIR MATHURDAS |
C14831689 |
|
22 |
10102000 |
19/09/2013 * |
1,235,000,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006,
INDIA |
B85482222 |
|
23 |
80011640 |
22/04/2014 * |
6,400,000,000.00 |
BANK OF BARODA |
APPLE HERITAGE,
54 C, GROUND FLOOR, SIR MATHURDAS |
C03572625 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
From Bank |
354.754 |
500.000 |
|
Deferral Sales Tax Liability |
7.507 |
19.219 |
|
|
|
|
|
Total |
362.261 |
519.219 |
FINANCIAL PERFORMANCE OF THE YEAR:
Gross sales and
other income for the consolidated entity increased to Rs.23683.990 Millions, as
against Rs.19563.48 Millions in the previous year, registered an impressive
growth of 21.06%. The Net Profit stood at Rs.954.27 Millions as compared to the
previous year Rs.1034.72 Millions showing a decrease of 7.77%.
MANAGEMENT
DISCUSSION AND ANALYSIS
GLOBAL SCENARIO:
Looking ahead,
global growth is projected to strengthen from 3 percent in 2013 to 3.6 percent
in 2014 and 3.9 percent in 2015. In advanced economies, growth is expected to
increase to about 2¼ percent in 2014–15, an improvement of about 1 percentage
point compared with 2013. Key drivers are reduction in fiscal tightening,
except in Japan, and still highly accommodative monetary conditions.
Growth will be
strongest in the United States at about 2¾ percent. Growth is projected to be
positive but varied in the euro area, stronger in the core, but weaker in
countries with high debt (both private and public) and financial fragmentation,
which will both weigh on domestic demand. In emerging market and developing
economies, growth is projected to pick up gradually from 4.7 percent in 2013 to
about 5 percent in 2014 and 5¼ percent in 2015. Growth will be helped by
stronger external demand from advanced economies, but tighter financial
conditions will dampen domestic demand growth.
The strengthening
of the recovery from the Great Recession in the advanced economies is a welcome
development. But growth is not evenly robust across the globe, and more policy
efforts are needed to fully restore confidence, ensure robust growth, and lower
downside risks. Economic activity in Asia picked up speed in the second half of
2013, as exports to advanced economies accelerated. Domestic demand has been
solid, and retail sales across much of Asia have been brisk. Exports,
particularly to the United States and the euro area, have gained momentum.
In a number of
economies, including Brazil, India, and Indonesia, inflation pressure continues
and could be reinforced by currency depreciation since mid-2013. Although
policy rates were raised in many countries over the past year, further policy
tightening may be needed to rein in inflation. In addition to tackling
near-term vulnerabilities, Asia should also continue to push ahead with
structural reforms to enhance medium-term prospects.
The challenges
facing the Indian Economy in the last fiscal (FY-2012-13) – high inflation,
higher cost of borrowing, tightened liquidity, dampened investor sentiments,
waning demand, rising input cost etc. – continued unabated through much FY
2013- 14. The challenge of balancing growth and inflation coincided currency
(INR) depreciation. Having reduced the rapo rate by 25 bps at the start of the
year, RBI followed it up with three consecutive 25 bps hike. As a result, the
cost of borrowing remained high, further aggravating the difficult business
environment. Index of Industrial Production (IIP), the measure of industrial
output, remained almost flat with Y-o-Y change of negative 0.1% for the period
April 2013 to February 2014.
In the second half
of the year Central Government swung into moderate action, pushing ahead few
measures on policy reforms and fast-tracking clearances of industrial and
infrastructural projects. India’s growth is expected to recover from 4.4
percent in 2013 to 5.4 percent in 2014, supported by slightly stronger global
growth, improving export competitiveness, and implementation of recently
approved investment projects. A pickup in exports in recent months and measures
to curb gold imports have contributed to lowering the current account deficit..
Going forward, the
country expects to see a stable and growth – oriented government that succeeds
in fast-tracking next generation reforms. Gradual stabilization of growth in
advanced economics augurs well for country’s exports sector and also Foreign
Exchange Reserves. Overall growth is expected to firm up on policies supporting
investment and a confidence boost from recent policy actions, but will remain
below trend. Consumer price inflation is expected to remain an important
challenge, but should continue to move onto a downward trajectory.
SUBJECT (TIMETECH)
- BUSINESS OVERVIEW
INDUSTRIAL
PACKAGING
Company is a true
Indian Multinational to offer rigid industrial packaging products in most of
Asian Countries. The Company offers a large variety of different products in this
segment.
PE drums: Packaging for
liquid and powder/solid filling goods (Chemicals, acids, lubricants, additives
Various pharmaceutical intermediates);
Jerry-cans: Packaging for
liquid filling goods (Chemicals, acids, lubricants, additives Various
intermediates for pharmaceuticals);
Pails: Cylindrical grease
pails (Greases, Fats, Lacquers, Paints, Silican);
Composite IBCs : Composite IBC
range 640–1,250 l with 1,000 l versions being most often used, Relatively new
packaging type compared to metal and plastic drums & Fit for purpose in
several market segments for Liquids & Hazardous goods.
MARKET SIZE AND
DEVELOPMENT
Global industrial
packaging market accounts for EUR 6.9 bn, with the US and China being major
national markets. Steel and plastic drums still dominate the product offer
(~74% of total volume) Future growth will be mainly volume-driven by emerging
markets such as China (the largest metal drum market in the world), India and
other APAC countries. A clear trend towards IBC is visible, which is correlated
with a growing demand for reconditioning solutions mainly in developed regions
The main drivers for rigid industrial packaging are:
·
Growth of underlying customer industries :
Rigid industrial packaging demand is closely correlated with underlying growth
of customer industries (Chemical industry with largest influence)
·
Substitution across packaging segments: Shift
between different materials due to changing customer needs
·
Standardization of products: Standardization
increases comparability between packaging products.
·
Replacement of packaging by other transports:
Competitive landscape increasingly defined broader than just ‘manufacturing and
selling a container.
Customer
industries are expected to grow in a solid single-digit range, especially in
the regions APAC, Middle East / Africa and South America particularly APAC is
expected to grow above global average. About 50% of global market growth come
from APAC region.
Demand across all
major industries is fuelled by developing economies and rising living
standards, especially in the regions Asia/Pacific, Middle East/Africa and South
America
The market
experiences an ongoing substitution trend of metal drums being replaced by
plastic drums, which are in turn replaced by IBC
·
First product substitution occurred when
metal drums were replaced with plastic drums
·
Ongoing trend to replace classical metal and
even plastic drums with IBC due to a number of advantages
ü Easy to
handle (filling / emptying), easy to clean
ü Lower
freight costs,
ü Higher
volume (up to 25% more capacity on a pallet than standard metal drums)
The IBC market is
expected to grow at a higher rate than metal or plastic drums, driven primarily
by a continuing substitution trend. Packaging economics as well as volume and
weight advantages fuel the growth in IBC and growth is especially strong in
APAC where overall economic expansion and the growth of underlying customer
industries are combining positive momentum.
INDIA KEY MARKET
TRENDS
India is an
emerging economy with sizeable untapped potential for rigid industrial
packaging, especially in its main industrial centres near the coast. Industrial
packaging in India is expected to grow with 10% p. a. and will remain largely
dominated by metal and plastic drums. India’s industrial maturity is still
relatively low and low-value, low-quality packaging will increasingly be
replaced by rigid industrial packaging products. Thus, industrial packaging demand
growth exceeds GDP and underlying industry forecasts. The need for rollable
package products such as drums is partly influenced by the country’s lack of a
sufficient infrastructure network and easy ways for transportation.
INFRASTRUCTURE
The infrastructure
division has a comprehensive range of products catering to different
demographic industries. The product are includes high pressure pipes,
prefabricated shelters, waste/refuse bins and energy storage devices.
Infrastructure sector in India has not been able to perform to its full
capacity, majorly due to the Government red tapes, lack of funds and very long
gestation period in completion of the projects. With introduction of
Public-Private-Partnerships (PPP), this scenario is expected to change.
In the Eleventh
Five-Year Plan, investments that were allotted for this sector were to the tune
of 20 lakh crore, which was raised to 50 lakh crore in the Twelfth Five-Year
Plan. Further importantly, the government has envisaged that out of the total
investments, around 50% would come from the private sector in the Twelfth Plan
as against 30% estimated in the Eleventh Plan. This is a major step that the
government has taken for this sector is involving private sector participation
through encouraging Public Private Partnerships (PPP).
Infrastructure and
other public utility services have traditionally remained under the domain of
Government and other statutory bodies in India. But with an upsurge in the
demand for transport, water supply, sewerage, drainage and solid waste
management systems
In coming months,
the country expects to see a stable and growth – oriented government that
succeeds in fast-tracking next generation reforms which will increase the
demand of their infrastructure products. Prefab Shelters: The prefab industry
is growing in India and demand for portable cabin is increasing. With growing
demand for mass housing, shelters in remote places and environment-friendly
building material that is also aesthetically pleasing, the demand for prefab construction
is rising.
Composite
materials are used to produce pre-engineered components to build houses,
factories and infrastructure. Prefabrication finds ready acceptance in low-cost
housing and other projects where price is a criterion.
During the year
Company has successfully executed initial order received from Madhya Pradesh
Government for the supply and erection of Pre-Fabricated Shelter for E-Panchyat
Bhavans.
Dumpo Bins: India faces major
challenges in dealing with the increasing amount of municipal, healthcare and
hazardous wastes. Existing waste management systems have shortcomings but
greater government investment and private sector involvement offers significant
market potential. Waste management systems are assuming greater importance due to
the population explosion in municipal areas, legal intervention, and emergence
of newer technologies and rising public awareness about cleanliness.
The company is the
only manufacture of Dumpo Bins of European designed and as per EN standards. The
demand of the products are increasing. They are supplying Dumpo Bins to
Municipal Corporation of Greater Mumbai and other institutes like local
municipal corporations, Railways, Defence, residential premises etc. They are
very confident on the demand of Dumpo Bins in major other cities of the India.
Energy Storage
Devices. The demand for the batteries from the Telecom Companies gain momentum
which has reducedthe purchase of batteries for last three years. The Company
also gradual de risked the dependencies on telecom segments by augmenting
capacity for other Battery segment like Solar, UPS, inverters and railways
Batteries etc. The Battery for telecom sector is the largest contributor of the
Battery segment Telecom infrastructure like towers and exchanges directly
create demand for lead batteries. Major growth drivers of the Telecom Sector
are:
·
Roll out of 3G, 4G & Wi-Max services,
expansion of network coverage, strengthening of signal strength and network
density.
·
Increase in penetration of broadband internet.
The Company is very excited on the demand from Solar Batteries. The Solar
Energy in India is one of the most exciting growth industries in the world
right now. Solar Energy in India is poised to take off in a exponential manner
because of a unique confluence of favorable Supply and Demand factors. Here is
a list of factors that will make Solar Power one of the fastest growing energy
sectors in the world.
·
India has very high isolation (solar
radiation in layman language) which makes solar energy much cheaper to produce
solar power in India compared to countries like Germany, Denmark etc.
·
India has a huge electricity demand supply
gap – Large parts of India regularly face blackouts for lack of electricity
supply leading to huge monetary losses.
·
Lack of power grid availability – Solar
Energy is ideally suited for providing power to those areas which don’t have
power lines connecting it. Large parts of India don’t have electricity grid
connectivity and it is cheaper to power them through solar energy rather than
extending power lines.
·
Increasing expensive and unreliable
electricity supply - The rates of electricity prices are going up rapidly each
year due to a combination of factors like higher costs of fossil fuels,
increasing capital expenditure by utilities and privatization of power.
·
Solar Energy approaching Grid Parity – The
costs of Solar Energy has been decreasing rapidly over the last 2 years and has
reached retail price grid parity in countries like Italy, Hawaii.
·
Strong Support from the Government – The
Indian government through the Jawaharlal Nehru National Solar Mission has
provided strong support to the growth of this industry. The government has set
a target of 20 GW by 2022.
TECHNICAL
PRODUCTS:
AUTOMOTIVE
COMPONENTS
Subject manufactures
value added plastic auto components through innovation and technology
conforming to international standards i.e. Anti-Spray Flaps, Plastic Fuel Tank
(PFTs), De-aerating tanks (DAT) and Air Duct.
The auto Industry in
India is going through one its worst down turns clocking 35% lower than
previous year in commercial vehicle segment. This figure is further relevant
when compared to previous year i.e 2012-13 when the segment was down by 20%.
The prospects for the industry growth would largely depend upon the policy
measures announced by the Centre in the budget, particularly in the
manufacturing sector and speedy implementation of stalled infrastructure
projects. The fiscal deficit, volatility in the international crude oil prices
and below normal monsoon could still prove to be a stumbling block in the
economy recovery.
The Company’s is
in close coordination with major OEMs like Tata Motors, M & M, Ashok
Leyland to develop new products Plastic fuel Tanks or De-aeration Tanks for
their various models.
LIFESTYLE
Company is one of
the leading players in the matting segment. The Company has been delivering
value for many solutions across industries and customers, winning the trust of
millions across the nation. Plastic entrance mats and related household and
light industrial goods as well as a number of innovative artificial grass
product applications such as: poultry nest pads, surfaces for artificial snow
slopes and artificial grass Grand Prix surfaces for auto-racing circuits
worldwide.
The Company is
among the European leaders in plastic entrance mat and related household and
light industrial goods production, sold under the AstroTurf. The Company has in
recent years developed innovative entrance mating product lines with creative
shapes and high durability to cater to the high-end of the market.
The entrance
matting business enjoys very stable and highly predictable customer demand. The
poultry products are the preferred nest pad solution for a number of leading
poultry farm OEMs. The Company enjoys a very strong market position due to
lower quality of its competition’s products.
MATERIAL HANDLING
PRODUCTS:
Subject in
collaboration with Schoeller Alibert are focused on the transport and storage
of products using pallets, crates and other containers. Through this service,
Company assists customers in reducing their supply chain costs through improved
storage efficiency, handling savings and freight cost reduction.
The Indian retail
industry is one of the vibrant and fastest growing economic sectors
contributing to 14 -15 percent of the GDP. Including the organised and
unorganised sector at the economic level, this Indian retail market is
determined as one of the top five retail markets of the world. Factors like
disposable income enhancement, working population escalation, rapid
urbanisation, customer aspiration, new generation of entrepreneurs and liberal
FDI policy are acting as riders to the retail sector. The current advancement
in the field of information, communication and technology has altered the
concept of shopping. According to the FICCI report, the sector will grow at 7
per cent over the next 10 years, reaching a size of US$ 850 billion by 2020.
The Company also
focuses on the product life cycle, with the objective of providing a complete
and re-usable packaging solution- reducing environmental impact and generating
efficiencies for its customers.
COMPOSITE
CYLINDERS:
Composite Gas
cylinder offers incredible business opportunity across the globe but specifically
in Asia and Middle East where Subject has received its regulatory approval from
Petroleum Explosive & Safety Organization (PESO) and The Emirates Authority
for Standardization & Metrology (ESMA).
The Composite
cylinders have significant advantage over metal ones as they are lightweight,
explosion proof, aesthetic and durable. Composite Gas cylinder offers
incredible business opportunity across the globe but specifically in Asia,
Africa and Middle East.
The Company has introduced
first time composite LPG cylinders in India. The Company expected good demand
of the Composite Cylinders in coming days. The Indian Government is also
focused to reach the LPG connection in their vision 2015
·
Increase in Domestic LPG Connections: Focus
on areas where LPG penetration is low by giving incentives
·
Raise population coverage
from 50% to75%.
·
Increasing LPG customer from
125 millions to 180 millions
·
Switch Over from Kerosene to
LPG
·
To built Common LPG Kitchen to make LPG
affordable in all villages with population less than 5000 as a part of
Corporate Social responsibility.
The Company also exploring the export possibilities to various countries like Tanzania, Zimbabwe, Ukraine, Maldives, South Africa, Nigeria, Kenya, Egypt, Yemen and QATAR .
INFORMATION
TECHNOLOGY:
The Company continues to invest in IT, leveraging it as a
source of competitive advantage. The enterprise wide SAP platform, the backbone
of IT, encompasses all core business processes in your Company. It also
provides a comprehensive data warehouse with analytical capability that
facilitates better and faster decisions. The Company has leveraged the SAP
platform to aid business priorities and improve efficiencies
The Company continues to invest in IT infrastructure to support business applications and has leveraged India’s expanded telecom footprint to provide high bandwidth terrestrial links to all operating units.
UNAUDITED STANDALONE FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS
ENDED 31ST DECEMBER, 2014
(RS.
IN MILLIONS)
|
|
|
PARTICULARS |
Quarter ended 31.12.2014 |
Quarter ended 30.09.2014 |
Nine Months Ended 31.12.2014 |
|
1 |
Income from Operations |
|
|
|
|
|
|
Gross Sales |
3811.450 |
3655.181 |
10707.785 |
|
|
|
Less : Excise Duty |
348.184 |
334.170 |
980.503 |
|
|
|
a) Net Sales/Income from Operations (net of excise duty) |
3463.266 |
3321.011 |
9727.282 |
|
|
|
b) Other Operating Income |
-- |
-- |
-- |
|
|
|
Total Income from Operations (Net) |
3463.266 |
3321.011 |
9727.282 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Consumption of raw materials |
2428.068 |
2372.666 |
6769.588 |
|
|
b) |
Purchase of stock in-trade |
-- |
-- |
-- |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(13.287) |
(84.518) |
(37.537) |
|
|
d) |
Employee benefit expenses |
130.104 |
127.181 |
370.021 |
|
|
e) |
Depreciation and amortization expense |
138.103 |
134.180 |
396.394 |
|
|
f) |
Other
expenses |
401.325 |
394.149 |
1143.732 |
|
|
Total Expenses |
3084.313 |
2943.658 |
8642.198 |
|
|
3 |
|
Profit
/(Loss) from operations before other income, finance costs and exceptional
items (1-2) |
378.953 |
377.353 |
1085.084 |
|
4 |
Other
Income |
-- |
11.700 |
11.700 |
|
|
5 |
|
Profit /(Loss)
from ordinary activities before finance costs and exceptional items (3+4) |
378.953 |
389.053 |
1096.784 |
|
6 |
Finance
Costs |
157.182 |
168.180 |
487.509 |
|
|
7 |
|
Profit /(Loss)
from ordinary activities after finance costs but before exceptional items
(5-6) |
221.771 |
220.873 |
609.275 |
|
8 |
Exceptional
Items |
-- |
-- |
-- |
|
|
9 |
Profit /(Loss) from ordinary activities
before tax |
221.771 |
220.873 |
609.275 |
|
|
10 |
Tax
Expense |
66.101 |
54.781 |
165.833 |
|
|
11 |
Net Profit /(Loss) from ordinary activities
after tax (9-10) |
155.670 |
166.092 |
443.442 |
|
|
12 |
Extraordinary
items (net of tax expense) |
-- |
-- |
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
155.670 |
166.092 |
443.442 |
|
|
14 |
Paid up
equity share capital (Eq. shares of
Rs.10/- each) |
210.118 |
210.118 |
210.118 |
|
|
15 |
Reserve
excluding revaluation reserves |
-- |
-- |
-- |
|
|
16 |
|
Earnings per
share (before/after extraordinary items) of
Rs.10/- each |
|
|
|
|
|
|
Basic |
0.74 |
0.79 |
2.12 |
|
|
|
Diluted |
0.74 |
0.77 |
2.12 |
CONTINGENT LIABILITIES [AS ON 31.03.2014]:
CONTINGENT LIABILITIES
NOT PROVIDED FOR IN RESPECT OF:
1) Letter
of credit issued by banks on behalf of the Company Rs.1107.727
Millions (Previous year Rs.871.247 Millions)
2) Guarantee
given by the banks on behalf of the Company Rs.136.321
Millions (Previous Rs.134.205 Millions)
3) Disputed
Direct Taxes Rs.11.907 Millions (Previous Year Rs.6.330
Millions)
4) Disputed
Indirect Taxes Rs.1.129 Millions (Previous Year Rs.1.129
Millions)
5) Corporate
Guarantees give to banks for Loans taken by Subsidiaries / Joint Venture companies
Rs.5542.800
Millions against which outstanding as on 31st March 2014 is Rs.3970.000
Millions.
FIXED ASSETS
· Land
· Factory Buildings
· Office Premises
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment’s
· Vehicles
· Computers
· Software
PRESS RELEASES
FALL IN POLYMER PRICES TO ENHANCE MARGINS: TIME TECHNOPLAST
Anil Jain, Managing Director of Time
Technoplast in an interview to CNBC-TV18 spoke about impact of falling
crude prices and the business outlook going forward.
According to him the fall in crude prices led to decline in
polymer prices by 8-11 percent in the last four weeks. Polymer prices are
expected to go down further because of low demand in China and Europe going
forward too to around 15%, he added.
This would result in expansion of EBITDA margins by about 1
percent for the company, said Jain.
Commenting on the overseas ventures, he said the company has
already invested around Rs 600 crore in those businesses and is looking for
further expansion. All the overseas ventures are doing extremely well except
the one in China, he added.
As of now, the overseas ventures contribute 30% of their
turnover, said Jain.
Time Technoplast is a leading manufacturer of polymer
products with operations in Bahrain, Belgium, China, Egypt, Indonesia, Korea,
Malaysia, Poland, Romania, Singapore, Sharjah, Taiwan, Thailand, Vietnam and
India.
TIME TECHNOPLAST LAUNCHES COMPOSITE CYLINDERS
Time Technoplast Limited has informed BSE regarding
"'TimeTech' Launched Composite Cylinders". Time Technoplast
successfully commenced commercial sale to most reputed private sector LPG
Distribution Company in Western India. Time Tech has become the first and only
local manufacturer of Composite Cylinders for LPG distribution in the country.
PSU Oil Companies and other parallel marketers of LPG have evinced huge
interest in Composite Cylinders. Source: BSE
GROWTH IN OVERSEAS STARTUPS BOOST RESULTS: TIME TECHNOPLAST
Strong performance by overseas startups and reduced in
employee costs strengthened Time Technoplast 's fourth-quarter earnings,
said managing director Anil Jain. The company also expects its domestic
composite cylinder business to start contributing to overall revenues.
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. 62.18 |
|
|
1 |
Rs. 95.71 |
|
Euro |
1 |
Rs. 70.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
66 |
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.