MIRA INFORM REPORT
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Report No. : |
309754 |
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Report Date : |
28.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HIND COMMERCE LIMITED |
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Registered
Office : |
307, Arun Chambers, Tardeo Road, Mumbai – 400 034, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
09.10.1984 |
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Com. Reg. No.: |
11-085440 |
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Capital Investment
/ Paid-up Capital : |
Rs. 30.000 Million |
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CIN No.: [Company Identification
No.] |
L51900MH1984PLC085440 |
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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
: |
Subject is engaged solely in trading activity. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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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. The company has reported decent profitability for the financial year
2013-14. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual business
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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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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
Management non co-operative (91-22-40500100)
LOCATIONS
|
Registered Office : |
307, Arun Chambers, Tardeo Road, Mumbai – 400 034, Maharashtra, India |
|
Tel. No.: |
91-22-40500100 |
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Fax No.: |
91-22-40500140 |
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E-Mail : |
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|
Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Umesh R. Lahoti |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
49 Years |
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|
|
|
Name : |
Prakash Ramchandra Bang |
|
Designation : |
Non – Executive Independent Director |
|
Date of Birth/Age : |
58 Years |
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Qualification : |
B.Sc. (Hons); MBA (Marketing); MIMA |
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|
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|
Name : |
Mr. Ujwal R. Lahoti |
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Designation : |
Director |
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Date of Birth/Age : |
55 Years |
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|
Name : |
Mr. Sanjay R. Soni |
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Designation : |
Non – Executive Independent Director |
|
Date of Birth/Age : |
35 Years |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh Bangera |
|
Designation : |
Chief Financial Officer |
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|
|
|
Name : |
Mr. Aweline Mendes |
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Designation : |
Compliance Officer |
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|
Name : |
Ms. Hemali Gohil |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2014
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
917600 |
30.59 |
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|
917600 |
30.59 |
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|
Total shareholding of Promoter and Promoter Group (A) |
917600 |
30.59 |
|
(B) Public Shareholding |
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|
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|
1456000 |
48.53 |
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|
101400 |
3.38 |
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|
525000 |
17.50 |
|
|
2082400 |
69.41 |
|
Total Public shareholding (B) |
2082400 |
69.41 |
|
Total (A)+(B) |
3000000 |
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) |
3000000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged solely in trading activity. |
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Products : |
Not Available |
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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 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 : |
Not Divulged |
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Bankers : |
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Statutory Auditors
: |
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Name : |
M/s. K. K. Khadaria and Company Chartered Accountants |
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Address : |
401-A, Pearl Arcade, Opposite P.K. Jewellers, Off. J. P. Road, Andheri (W), Mumbai – 400 053, Maharashtra, India |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Subsidiary : |
Crystal Tradecom Limited |
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Enterprises over which
Key Management Personnel are able to exercise significant influence : |
P.S. Ware Information Private Limited |
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Enterprises over
which Key Management Personnel are able to exercise significant influence : |
Lahoti Overseas Limited |
CAPITAL STRUCTURE
As on 27.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 million |
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|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000
million |
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|
a) The number of
shares and amount outstanding at the beginning and at the end of the reporting
year is same.
b) The Company has one
class of equity shares having a par value of Rs.10/- per share. Each holder of
equity share is entitled to same right based on the number of shares held.
c) Shares in the
Company held by each shareholders holding more than 5% shares
|
Particular |
No. of the Share
Percentage of holding |
|
|
|
|
Three shareholders (P.Y. Three shareholders) |
10,75,000 |
|
|
35.83% |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
38.258 |
35.642 |
35.377 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
68.258 |
65.642 |
65.377 |
|
|
|
|
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.001 |
0.001 |
|
(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) |
0.000 |
0.001 |
0.001 |
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
0.000 |
0.000 |
0.000 |
|
(c) Other
current liabilities |
0.238 |
1.453 |
1.591 |
|
(d) Short-term
provisions |
0.467 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
0.705 |
1.453 |
1.591 |
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|
|
|
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TOTAL |
68.963 |
67.096 |
66.969 |
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II.
ASSETS |
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|
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(1)
Non-current assets |
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(a) Fixed
Assets |
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|
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|
(i)
Tangible assets |
0.000 |
0.004 |
0.005 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
52.368 |
64.638 |
63.630 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.413 |
0.473 |
0.709 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
52.781 |
65.115 |
64.344 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade
receivables |
0.503 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
0.331 |
0.571 |
0.466 |
|
(e) Short-term
loans and advances |
15.348 |
1.405 |
2.159 |
|
(f) Other
current assets |
0.000 |
0.005 |
0.000 |
|
Total
Current Assets |
16.182 |
1.981 |
2.625 |
|
|
|
|
|
|
TOTAL |
68.963 |
67.096 |
66.969 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3.800 |
6.425 |
0.000 |
|
|
|
Other Income |
4.292 |
0.308 |
1.593 |
|
|
|
TOTAL |
8.092 |
6.733 |
1.593 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of Stock-in-Trade |
3.738 |
5.129 |
0.000 |
|
|
|
Employees benefits expense |
0.570 |
0.495 |
0.442 |
|
|
|
Other expenses |
0.377 |
0.561 |
0.209 |
|
|
|
TOTAL |
4.685 |
6.185 |
0.651 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
3.407 |
0.548 |
0.942 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
0.030 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.377 |
0.548 |
0.942 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.000 |
0.001 |
0.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
3.377 |
0.547 |
0.941 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.761 |
0.282 |
(0.002) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
2.616 |
0.265 |
0.943 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
35.641 |
35.376 |
34.433 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
38.257 |
35.641 |
35.376 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.800 |
2.775 |
0.000 |
|
|
TOTAL EARNINGS |
3.800 |
2.775 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.87 |
0.09 |
0.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
68.84 |
4.12 |
N.A |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
89.66 |
8.53 |
N.A |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
20.35 |
22.25 |
28.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.01 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
22.95 |
1.36 |
1.65 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
35.377 |
35.642 |
38.258 |
|
Net
worth |
65.377 |
65.642 |
68.258 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1.593 |
6.733 |
8.092 |
|
|
|
322.662 |
20.184 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1.593 |
6.733 |
8.092 |
|
Profit |
0.943 |
0.265 |
2.616 |
|
|
59.20% |
3.94% |
32.33% |
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 |
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 |
No |
|
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: NO
CHARGES EXIST FOR THE COMPANY
Management Discussion
and Analysis
Economy Review
The Textiles sector comprising cotton, man-made fibers, jute,
sericulture & silk, wool, a number of specially fibres and their products
and Handlooms and Handicrafts, play a key role in the Indian Economy by way of
significant contribution to GDP, manufacturing output, employment generation
and export earnings. The Indian Textiles contributes 12% to the industrial
production, 2% to the GDP at factor cost, 11% of total manufacturing exports
and directly employs about 45 million people. The textile sector is the second
largest producer of employment after agriculture. India's textiles and clothing
industry is one of the mainstays of the national economy. It is also one of the
largest contributing sectors of India's exports worldwide. The report of the
Working Group constituted by the Planning Commission on boosting India's
manufacturing exports during 12 Five Year Plan (2012-17), envisages India's
exports of Textiles and Clothing at USD 64.41 billion by the end of March,
2017. The textiles industry accounts for 14% of industrial production, which is
4% of GDP; employs 45 million people and accounts for nearly
11% share of the country's total exports basket.
Industry Overview
With 47 Million
Spindles and 0.75 Million Open-End Rotors, India has the world's second largest
spinning capacity, commanding a share of the global Cotton Yarn market–currently
producing over 4700 Million. Kgs of spun yarn of which over 3,400 Million. Kgs
is cotton yarn. Cotton Yarn accounts for nearly 73% of total spun yarn
production. Indian Spinning Industry is the most modern and efficient in the
world. India produces a comprehensive range of yarns for every conveyable end
use – non-spun or open-end; combed or carded, basic, compact, mélange or fancy.
India's 1943 spinning mills produce them all for requirements ranging from a
fine 200 count to a coarse 2 count.
The world's most
renowned Indian Cotton Yarns are available as greige, bleached, mercerized,
gassed, twisted, dyed or an endless range of fashion yarns like mélange,
stretch, blends, high twist and so on to meet the different applications in
fashion, clothing, home textiles, hosiery and industrial fabrics. India can
meet every customer requirement whether large or small, regular or customized,
premium or basic.
Constant induction
of state-of-the-art technologies like compact spinning, using the most advanced
yarn – processing technology and high-precision process controls tools like
electronic cleaners, auto slavers, splicers, two-for-one twisters and
autoconers give Indian mills a competitive advantage. Today, Indian yarn is
widely accepted in International markets as the exporters here regularly meet
the needs of importers with unmatched efficiency and economy in countries like
USA, Italy, Spain, Japan, China, South Korea, Taiwan, Bangladesh, Vietnam etc.
Outlook
The Vision Statement for the textiles industry for the 11th Five Year Plan (2007-12), inter-alia, envisages India securing a 7% share in the global textiles trade by 2012.
The Indian textiles industry has enormous opportunities for domestic as well as international investors given its consistent growth performance, abundant cheap skilled manpower and growing domestic demand. With time, India has surged ahead of other countries and positioned itself as a value-added manufacturer with a varied material base, an educated and English-speaking class of executives with high product development and design orientation.
There has been considerable broadening and deepening of the Indian financial markets due to various financial market reforms undertaken by the regulators, the introduction of innovative financial instruments in recent years and the entry of sophisticated domestic and international players. Strong economic growth, favourable demographics, increased geographic penetration, growth of small and medium enterprises and the increasing needs for capital among Indian corporations are expected to continue to drive India's financial services industry.
STATEMENT
OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31st
DECEMBER 2014
(Rs. in millions)
|
Sr. No. |
Particulars |
Quarter Ended |
Nine Months Ended |
|
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
1 |
Income from
Operations |
|
|
|
|
|
(a) Net
Sales/Income from Operations (Net of excise duty) |
0.000 |
0.000 |
0.100 |
|
|
(b) Other Operating Income |
0.170 |
1.164 |
1.885 |
|
|
Total Income
from Operations (net) |
0.170 |
1.164 |
1.985 |
|
2 |
Expenses |
|
|
|
|
|
(A) Purchases of stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
(B) (Increase)/ Decrease In Stock in Trade |
0.000 |
0.000 |
0.000 |
|
|
(C) Employee benefits expense |
0.210 |
0.158 |
0.511 |
|
|
(D) Depreciation and amortisation expense |
0.000 |
0.000 |
0.000 |
|
|
(E) Other expenses |
0.091 |
0.723 |
1.473 |
|
|
Total Expenses |
0.301 |
0.881 |
1.984 |
|
3 |
Profit / (Loss)
from Operations before other income, finance costs and exceptional items
(1-2) |
(0.131) |
0.283 |
0.001 |
|
4 |
Other Income |
0.000 |
0.000 |
0.000 |
|
5 |
Profit / (Loss)
from ordinary activities before finance costs and exceptional items (3+4) |
(0.131) |
0.283 |
0.001 |
|
6 |
Finance costs |
0.000 |
0.000 |
0.000 |
|
7 |
Profit / (Loss) from
ordinary activities after finance costs but before exceptional items (5-6) |
(0.131) |
0.283 |
0.001 |
|
8 |
Exceptional Items (Note 4) |
0.000 |
0.000 |
0.000 |
|
9 |
Profit / (Loss) from ordinary activities before tax (7+8) |
(0.131) |
0.283 |
0.001 |
|
10 |
Tax Expense |
0.000 |
0.000 |
0.000 |
|
11 |
Net Profit /
(Loss) from ordinary activities after tax (9-10) |
(0.131) |
0.283 |
0.001 |
|
12 |
Extraordinary Item (net of tax expenses) |
0.000 |
0.000 |
0.000 |
|
13 |
Net Profit / (Loss) for the period (11-12) |
(0.131) |
0.283 |
0.001 |
|
14 |
Paid-up Equity Shares Capital (Face value of Rs.10/- each) |
30.000 |
30.000 |
30.000 |
|
15 |
Reserves excluding Revaluation Reserve as per Balance Sheet of
Previous Year |
0.000 |
0.000 |
0.000 |
|
16i |
Earning Per Shares (EPS before extraordinary items) |
|
|
|
|
|
- Basic (in Rupees, not annualized) |
(0.004) |
0.009 |
0.000 |
|
|
- Diluted (in Rupees, not annualized) |
(0.004) |
0.009 |
0.000 |
|
16ii |
Earning Per Shares (EPS after extraordinary items) |
|
|
|
|
|
- Basic (in Rupees, not annualized) |
(0.004) |
0.009 |
0.000 |
|
|
- Diluted (in Rupees, not annualized) |
(0.004) |
0.009 |
0.000 |
|
PART II |
|
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public
shareholding |
|
|
|
|
|
- No of shares |
2082400 |
2082400 |
2082400 |
|
|
- Percentage of shareholding |
69.41% |
69.41% |
69.41% |
|
|
|
|
|
|
|
2 |
Promoters and
promoter group shareholding |
917600 |
917600 |
917600 |
|
|
a) Pledged /
Encumbered |
|
|
|
|
|
- No of shares |
|
|
|
|
|
- Percentage of shares (as a % of the total shareholding of promoters
and promoter group |
-- |
-- |
-- |
|
|
- Percentage of shares (as a % of the total share capital of the
company) |
-- |
-- |
-- |
|
|
b)
Non-encumbered |
|
|
|
|
|
- No of shares |
917600 |
917600 |
917600 |
|
|
- Percentage of shares (as a % of the total shareholding of promoters
and promoter group |
100.00% |
100.00% |
100.00% |
|
|
- Percentage of shares (as a % of the total share capital of the
company) |
30.59% |
30.59% |
30.59% |
|
B |
INVESTOR
COMPLAINTS |
3
months ended as on 31.12.2014 |
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed of during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
Note :
- The above
results have been subjected to limited review by Statutory Auditors of the
company and approved by the Board of Directors at its meeting held on 6th
February, 2015.
- The company
is engaged solely in trading activity segment and all activities of the
company revolve around this business. As such there are no other
reportable segment as defined by the Accounting Standard 17 on “Segment
Reporting” issued by the Institute of Chartered Accounts of India.
- Figure to the
previous periods have been regrouped, wherever necessary to correspond
with the figures of the current period.
- The above
financial results are available on
the website of the Company- www.hindcommerce.com
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.61.79 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.69.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUC |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.