MIRA INFORM REPORT
|
Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASTEC LIFESCIENCES LIMITED |
|
|
|
|
Registered
Office : |
Elite Square, 7th Floor, 274, Perin Nariman Street, Fort, Mumbai
– 400001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.01.1994 |
|
|
|
|
Com. Reg. No.: |
11-076236 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.185.291 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1994PLC076236 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20370A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA4832D |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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|
|
|
Line of Business
: |
Manufacturing of
Agro and Pharma Chemicals. |
|
|
|
|
No. of Employees
: |
177 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating reflects Astec’s established market position in the
manufacture and sale of triazole fungicides marked by expertise of the promoters
with over three decades of experience in the agrochemicals industry, fair
liquidity profile and sound profitability levels of the company. 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 trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans=BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
July, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term, Non-Fund Based Limits=A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
July, 2014 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Babu Subramanium |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-61205600 |
|
Date : |
01.01.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Elite Square, 7th Floor, 274, Perin Nariman Street, Fort,
Mumbai – 400 001, Maharashtra, India |
|
Tel No.: |
91-22-22618212/ 61205600 |
|
Mobile No.: |
91-9920689888 (Mr. Vijay Jain) |
|
Fax No.: |
91-22-22618289 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Research and |
F-39, MIDC, Phase-II, Dombivali (East), Thane – 421 204, Maharashtra,
India |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
B-17, B-18 and B-21, MIDC Mahad, Birwadi Industrial Area, Mahad,
District Raigad – 413 341, Maharashtra, India |
|
|
|
|
Factory 2 : |
B-16, MIDC Mahad, Birwadi Industrial Area, Local Unit Mahad, District
Raigad – 413 341, Maharashtra, India |
|
|
|
|
Factory 3 : |
Additional MIDC, Plot No.K-2/1/1, Mahad, District Raigad – 413 341,
Maharashtra, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Ashok Vishwanath Hiremath |
|
Designation : |
Chairman and Managing Director |
|
Address : |
3, Jai Kiran, 35, Cuffe Parade, Colaba, Mumbai – 400 005, Maharashtra,
India |
|
Date of Birth/Age : |
31.05.1955 |
|
Date of Appointment : |
01.02.1994 |
|
|
|
|
Name : |
Mr. Janak J. Rawal |
|
Designation : |
Whole Time Director (Appointed w.e.f. 20.01.2012) |
|
|
|
|
Name : |
Dr. P. L. Tiwari |
|
Designation : |
Non-Executive – Non Independent Director |
|
Date of Birth/Age : |
01.07.1945 |
|
Qualification : |
MBBS, MD |
|
Date of Appointment : |
25.01.1994 |
|
|
|
|
Name : |
Mr. Laxmikant Ramprasad Kabra |
|
Designation : |
Non-Executive – Non Independent Director |
|
Date of Birth/Age : |
09.03.1969 |
|
Qualification : |
B.com, F.C.A |
|
Date of Appointment : |
25.01.1994 |
|
|
|
|
Name : |
Prof. Vinod Malshe |
|
Designation : |
Non-Executive – Independent Director |
|
Date of Birth/Age : |
28.02.1947 |
|
Qualification : |
Master of Science (Technology) |
|
Date of Appointment : |
28.03.2008 |
|
|
|
|
Name : |
Mr. Sitendu Sharma |
|
Designation : |
Non-Executive – Independent Director |
|
|
|
|
Name : |
Mr. Mohammed Zakir |
|
Designation : |
Non-Executive – Independent Director |
|
|
|
|
Name : |
Mr. Mandar Kamlakar Patil |
|
Designation : |
Non-Executive – Independent Director |
|
Date of Birth/Age : |
24.05.1970 |
|
Qualification : |
B.Com, F.C.A |
|
Date of Appointment : |
27.05.2012 |
KEY EXECUTIVES
|
Name : |
Ms. Tejal Jariwala |
|
Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS
AS ON 30.09.2014
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A)
Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
8162880 |
44.05 |
|
|
943000 |
5.09 |
|
|
1651100 |
8.91 |
|
|
1651100 |
8.91 |
|
|
10756980 |
58.05 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
10756980 |
58.05 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
209800 |
1.13 |
|
|
10000 |
0.05 |
|
|
219800 |
1.19 |
|
|
|
|
|
|
1581717 |
8.54 |
|
|
|
|
|
|
3255304 |
17.57 |
|
|
2086036 |
11.26 |
|
|
629293 |
3.40 |
|
|
261912 |
1.41 |
|
|
367381 |
1.98 |
|
|
7552350 |
40.76 |
|
Total Public shareholding (B) |
7772150 |
41.95 |
|
Total (A)+(B) |
18529130 |
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) |
18529130 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Agro and Pharma Chemicals. |
|
|
|
|
Products : |
|
|
|
|
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Exports : |
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|
Products : |
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Countries : |
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Imports : |
|
|
Products : |
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|
Countries : |
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Terms : |
|
|
Selling : |
Cash, Credit and
L/C |
|
|
|
|
Purchasing : |
Cash, Cheque,
Credit and L/C |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Agro and Pharma Intermediates |
M.T. |
NA |
3450.00 |
2992.60 |
GENERAL INFORMATION
|
No. of Employees : |
177 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|
Name : |
Shah and Kathariya Chartered Accountants |
|
Address : |
Room No.6, Kermani Building, 4th Floor, 27, Sir P.M. Road,
Fort, Mumbai – 400 001, Maharashtra, India |
|
Tel. No.: |
91-22-66315862 |
|
Fax No.: |
91-22-22856615 |
|
Mobile No.: |
91-9821034665/ 9987249694/ 705 |
|
E-Mail: |
|
|
Website : |
|
|
|
|
|
Cost Auditors : |
Ritesh N. Talathi and Company Cost Accountants |
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|
|
|
Internal Auditors : |
P. S. V. Jain and Associates Chartered Accountants |
|
|
|
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Subsidiaries : |
|
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18529130 |
Equity Shares |
Rs.10/- each |
Rs.185.291 millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
18044130 |
Equity Shares |
Rs.10/- each |
Rs.180.441 millions |
|
|
|
|
|
a) Reconciliation of share capital (Equity)
|
Particulars |
No. of Shares |
Amount (Rs. in
Millions) |
|
Balance at the beginning of the year |
16929130 |
169.291 |
|
Add : Issued during the year |
1115000 |
11.150 |
|
Balance at the end of the year |
18044130 |
180.441 |
b) Shareholders holding more than 5% of the average shares in the
company’s Equity Shares
|
Name of Shareholder |
No. of Shares |
Amount (Rs. in
Millions) |
|
Ashok V. Hiremath |
6115780 |
61.158 |
|
Suresh Hiremath |
1650000 |
16.500 |
|
Dr. P. L. Tiwari |
1650000 |
16.500 |
|
Hridaynath Consultancy Private Limited |
1054849 |
10.548 |
|
Total |
10470629 |
104.706 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
185.291 |
180.441 |
169.291 |
|
(b) Reserves & Surplus |
961.378 |
885.212 |
814.735 |
|
(c) Money received against share warrants |
0.000 |
4.123 |
13.600 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1146.669 |
1069.776 |
997.626 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
184.759 |
214.555 |
110.820 |
|
(b) Deferred tax liabilities (Net) |
41.022 |
38.567 |
27.580 |
|
(c) Other long term liabilities |
307.292 |
263.572 |
218.292 |
|
(d) Long-term provisions |
7.286 |
4.289 |
0.738 |
|
Total Non-current
Liabilities (3) |
540.359 |
520.983 |
357.430 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
542.814 |
445.120 |
559.279 |
|
(b) Trade payables |
435.951 |
454.665 |
295.174 |
|
(c) Other current liabilities |
84.175 |
59.613 |
45.768 |
|
(d) Short-term provisions |
39.836 |
27.900 |
13.384 |
|
Total Current
Liabilities (4) |
1102.776 |
987.298 |
913.605 |
|
|
|
|
|
|
TOTAL |
2789.804 |
2578.057 |
2268.661 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1300.513 |
1201.563 |
755.418 |
|
(ii) Intangible Assets |
0.000 |
0.438 |
0.330 |
|
(iii) Capital work-in-progress |
58.368 |
130.716 |
436.206 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9.992 |
9.981 |
9.881 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
113.814 |
78.741 |
31.487 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1482.687 |
1421.439 |
1233.322 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.535 |
0.243 |
117.382 |
|
(b) Inventories |
679.175 |
441.125 |
433.230 |
|
(c) Trade receivables |
444.246 |
601.354 |
307.302 |
|
(d) Cash and cash equivalents |
38.457 |
43.024 |
35.408 |
|
(e) Short-term loans and advances |
144.704 |
70.872 |
142.017 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
1307.117 |
1156.618 |
1035.339 |
|
|
|
|
|
|
TOTAL |
2789.804 |
2578.057 |
2268.661 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
1894.654 |
1656.575 |
1108.406 |
|
|
|
Other Income |
10.045 |
14.375 |
10.189 |
|
|
|
TOTAL (A) |
1904.699 |
1670.950 |
1118.595 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1422.449 |
1181.137 |
780.078 |
|
|
|
Purchase of traded goods |
0.000 |
0.000 |
69.699 |
|
|
|
Changes in inventories of finished goods, work-in-progress and traded
goods |
(97.228) |
31.242 |
(82.386) |
|
|
|
Employee benefit expenses |
100.044 |
79.223 |
47.479 |
|
|
|
Other Expenses |
129.800 |
94.756 |
129.699 |
|
|
|
Duties and Taxes/Prior Period Items |
0.000 |
0.000 |
1.411 |
|
|
|
Extraordinary Items |
5.746 |
9.492 |
0.000 |
|
|
|
TOTAL (B) |
1560.811 |
1395.850 |
945.980 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
349.633 |
275.100 |
172.615 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
88.083 |
70.322 |
53.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
261.550 |
204.778 |
119.186 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
144.980 |
117.321 |
84.754 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
116.570 |
87.457 |
34.432 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.365 |
28.012 |
10.252 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
86.205 |
59.445 |
24.180 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports at FOB |
715.200 |
770.100 |
384.400 |
|
|
TOTAL EARNINGS |
715.200 |
770.100 |
384.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
826.300 |
772.900 |
301.800 |
|
|
|
Capital Goods |
0.000 |
0.000 |
1.200 |
|
|
TOTAL IMPORTS |
826.300 |
772.900 |
303.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
- Basic |
4.71 |
3.45 |
1.43 |
|
|
|
- Diluted |
5.02 |
3.43 |
1.43 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
1st
Quarter |
2nd
Quarter |
|
Net sales |
498.700 |
586.000 |
|
Total Expenditure |
406.300 |
440.600 |
|
PBIDT (Excluding Other Income) |
92.400 |
145.400 |
|
Other income |
0.000 |
0.000 |
|
Operating Profit |
92.400 |
145.400 |
|
Interest |
23.600 |
30.100 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
68.800 |
115.300 |
|
Depreciation |
37.400 |
38.600 |
|
Profit Before Tax |
31.400 |
76.800 |
|
Tax |
7.100 |
16.100 |
|
Profit after tax |
24.100 |
60.700 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
4.55 |
3.59 |
2.18 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
18.15 |
16.61 |
15.57 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.07 |
3.59 |
1.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.08 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.63 |
0.62 |
0.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.17 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
169.291 |
180.441 |
185.291 |
|
Reserves & Surplus |
814.735 |
885.212 |
961.378 |
|
Money received
against share warrants |
13.600 |
4.123 |
0.000 |
|
Net worth |
997.626 |
1069.776 |
1146.669 |
|
|
|
|
|
|
Long-term borrowings |
110.820 |
214.555 |
184.759 |
|
Short term borrowings |
559.279 |
445.120 |
542.814 |
|
Total borrowings |
670.099 |
659.675 |
717.305 |
|
Debt/Equity ratio |
0.672 |
0.617 |
0.626 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations (Net) |
1108.406 |
1656.575 |
1894.654 |
|
|
|
49.456 |
14.372 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operations (Net) |
1108.406 |
1656.575 |
1894.654 |
|
Profit |
24.180 |
59.445 |
86.205 |
|
|
2.18% |
3.59% |
4.55% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current
maturities of long term debt:
|
Particulars |
31.03.2014 (Rs.
in millions) |
31.03.2013 (Rs.
in millions) |
31.03.2012 (Rs.
in millions) |
|
Current maturities of long term debt |
62.175 |
10.084 |
9.228 |
|
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 |
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 |
No |
|
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 |
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 |
Yes |
OPERATIONS
For the year ending 31st March, 2014, Operating profit i.e. EBITDA is of the order of Rs.343.888 Millions, as against Operating Profit of Rs.275.099 Millions in preceding year 2012-13. Profit after Tax is Rs.86.204 Millions for the year 2013-14, compared to Profit after Tax of Rs.59.445 Millions reported for 2012-13.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10444906 |
11/08/2013 |
100,000,000.00 |
IDBI BANK LIMITED |
224A, 2ND FLOOR, A-WING,
MITTAL COURT, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B83020115 |
|
2 |
10441142 |
19/07/2013 |
250,000,000.00 |
AXIS BANK LIMITED |
CORPORATE BANKING BRANCH,
GROUND FLOOR, HOUSE BOMBAY DYEING
MILLS COMPOUND, P.B. MARG ,WORLI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B81186488 |
|
3 |
10441804 |
18/07/2013 |
220,000,000.00 |
IDBI BANK LIMITED |
CBG - NARIMAN POINT BRANCH,
224 A, 2ND FLOOR, A WING, MITTAL COURT, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, INDIA |
B81331951 |
|
4 |
10443772 |
11/03/2013 |
100,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B78384120 |
|
5 |
10339278 |
03/02/2012 |
178,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B33739020 |
|
6 |
10334542 |
13/01/2012 |
20,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU CENTRE,
DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI, MAHARASHTRA -
400018, INDIA |
B31666894 |
|
7 |
10265432 |
10/01/2011 |
52,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B04808325 |
|
8 |
10178426 |
27/07/2009 |
50,000,000.00 |
SATATE BANK OF HYDERABAD |
OVERSEAS BRANCH, 1204,
ASHOK MAHAL, TULLOCH ROAD, COLABA, MUMBAI, MAHARASHTRA - 400039, INDIA |
A69876019 |
|
9 |
10172696 |
30/06/2009 |
30,000,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A68073527 |
|
10 |
10142629 |
06/01/2009 |
160,000,000.00 |
AXIS BANK LIMITED |
201 ATLANTA BLD,, NARIMAN
POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A56858822 |
|
11 |
10125153 |
26/09/2008 |
40,000,000.00 |
STATE BANK OF HYDERABAD |
OVERSEAS BRANCH, ASHOK
MAHAL, 1204, TULLOCH ROAD, COLABA, MUMBAI, MAHARASHTRA - 400039, INDIA |
A47515689 |
|
12 |
10091557 |
29/10/2013 * |
690,000,000.00 |
AXIS BANK LIMITED |
NARIMAN POINT BRANCH,
GROUND FLOOR, ATLANTA BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,
INDIA |
B89134357 |
|
13 |
10041118 |
02/01/2014 * |
918,000,000.00 |
AXIS BANK LIMITED |
NARIMAN POINT BRANCH, GROUND
FLOOR, ATLANTA BUILDING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B94398559 |
|
14 |
10023050 |
23/09/2006 |
100,000,000.00 |
STATE BANK OF HYDERABAD |
OVERSEAS BRANCH, ASHOK MAHAL,
1204, TILLOCH MARG, COLABA, MUMBAI, MAHARASHTRA - 400039, INDIA |
A05882204 |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
17.136 |
|
Loans repayable on demand from other parties |
0.000 |
11.305 |
|
|
|
|
|
Total
|
0.000 |
28.441 |
FIXED ASSETS:
Tangible Assets
· Lease Hold Land
· Factory Building
· Corporate Office
· Plant and Machinery
· Electrical Installation
· Office Equipments
· Furniture and Fixtures
· Air Conditioner
· Motor Vehicles
· Computer
· Flats
Intangible Assets
· Computer Software
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR ENDED 30TH SEPTEMBER
2014
(Rs. In Millions)
|
Sr. No |
Particulars |
Quarter Ended |
Six Month Ended |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
||
|
(Unaudited) |
(Unaudited) |
(Unaudited) |
||
|
1 |
Income from
Operations |
|
|
|
|
|
a) Net Sales / Income from operations (Net of Excise Duty) |
590.867 |
489.155 |
1080.022 |
|
|
b) Other Operating Income |
(4.877) |
9.578 |
4.701 |
|
|
Total Income from
Operations (net) |
585.990 |
498.733 |
1084.723 |
|
2 |
Expenses |
|
|
|
|
|
a) Cost of materials consumed |
439.958 |
335.380 |
775.337 |
|
|
b) Purchase of stock in trade |
-- |
-- |
-- |
|
|
c) Changes in inventories of finished goods and WIP |
(57.129) |
20.750 |
(36.380) |
|
|
d) Employee benefits expenses |
25.256 |
24.187 |
49.442 |
|
|
e) Depreciation and amortisation expenses |
38.545 |
37.373 |
75.917 |
|
|
f) Other expenditure |
32.517 |
26.022 |
58.539 |
|
|
Total Expenses |
479.146 |
443.710 |
922.856 |
|
3 |
Profit/ (Loss) from
operations before other income, Finance Cost and Exceptional Items (1-2) |
106.844 |
55.023 |
161.866 |
|
4 |
Other Income |
-- |
-- |
-- |
|
5 |
Profit / (Loss)
from ordinary activities before finance cost and exceptional items (3+4) |
106.844 |
55.023 |
161.866 |
|
6 |
Finance Costs |
30.082 |
23.632 |
53.715 |
|
6A |
Foreign Exchange Fluctuation ( Profit ) / Loss |
-- |
-- |
-- |
|
7 |
Profit after
finance costs but before Exceptional Items (5-6-6A) |
76.761 |
31.390 |
108.152 |
|
8 |
Exceptional Items |
-- |
-- |
-- |
|
9 |
Profit / (Loss)
from ordinary activities before tax (7-8) |
76.761 |
31.390 |
108.152 |
|
10 |
Tax Expense (Including deferred tax) |
16.066 |
7.100 |
23.166 |
|
11 |
Net Profit / (Loss)
from ordinary activities after tax (9-10) |
60.695 |
24.290 |
84.985 |
|
12 |
Extra ordinary Items |
1.964 |
0.147 |
2.111 |
|
13 |
Net Profit / (Loss)
for the period (11 - 12) |
58.731 |
24.143 |
82.874 |
|
14 |
Minority Interest |
-- |
-- |
-- |
|
15 |
Net Profit / (Loss)
after taxes, minority interest (13-14-15) |
58.731 |
24.143 |
82.874 |
|
16 |
Paid-up equity share capital (Face Value Rs.10/-) |
185.291 |
185.291 |
185.291 |
|
17 |
Reserves (excluding Revaluation Reserve) |
1044.253 |
985.522 |
1044.253 |
|
18 |
Earnings per share |
|
|
|
|
|
- Basic |
3.28 |
1.30 |
3.28 |
|
|
|
|
|
|
|
|
PART II |
|
|
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
1 |
Public shareholding |
|
|
|
|
|
- No of shares |
7772150 |
7772150 |
7772150 |
|
|
- Percentage of shareholding |
41.95 |
41.95 |
41.95 |
|
2 |
Promoters and
promoter group shareholding |
|
|
|
|
|
a) Pledged /
Encumbered |
|
|
|
|
|
- No of shares |
1695000 |
0.000 |
1695000 |
|
|
- Percentage of shares (as a % of the total shareholding of promoters and promoter group |
15.76 |
0.00 |
15.76 |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
9.15 |
0.00 |
9.15 |
|
|
b) Non-encumbered |
|
|
|
|
|
- No of shares |
9061980 |
10756980 |
99061.980 |
|
|
- Percentage of shares (as a % of the total shareholding of promoters and promoter group |
84.00 |
100.00 |
84.00 |
|
|
- Percentage of shares (as a % of the total share capital of the company) |
49.00 |
58.05 |
49.00 |
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
0 |
|
Receiving during the quarter |
0 |
|
Disposed of during the quarter |
0 |
|
Remaining unreserved at the end of the quarter |
0 |
STANDALONE STATEMENT
OF ASSTES AND LIABILITIES AS ON 30.09.2014
|
SOURCES
OF FUNDS |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
185.291 |
|
(b) Reserves & Surplus |
1044.253 |
|
(c) Money received against
share warrants |
0.000 |
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1229.544 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
139.040 |
|
(b) Deferred tax liabilities
(Net) |
42.980 |
|
(c) Other long term
liabilities |
299.171 |
|
(d) long-term provisions |
6.904 |
|
Total
Non-current Liabilities (3) |
488.095 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
594.281 |
|
(b) Trade payables |
581.888 |
|
(c) Other current liabilities |
107.302 |
|
(d) Short-term provisions |
60.756 |
|
Total
Current Liabilities (4) |
1344.227 |
|
|
|
|
TOTAL |
3061.866 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
|
|
(i) Tangible assets |
1262.277 |
|
(ii) Intangible Assets |
0.000 |
|
(iii) Capital work-in-progress |
62.813 |
|
(iv) Intangible assets under
development |
0.000 |
|
(b) Non-current Investments |
9.981 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
141.824 |
|
(e) Other Non-current assets |
0.000 |
|
Total
Non-Current Assets |
1476.895 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.715 |
|
(b) Inventories |
653.509 |
|
(c) Trade receivables |
715.753 |
|
(d) Cash and cash equivalents |
83.568 |
|
(e) Short-term loans and
advances |
131.426 |
|
(f) Other current assets |
0.000 |
|
Total
Current Assets |
1584.971 |
|
|
|
|
TOTAL |
3061.866 |
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.63.32 |
|
|
1 |
Rs.98.64 |
|
Euro |
1 |
Rs.76.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.