MIRA
INFORM REPORT
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Report No. : |
301487 |
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Report Date : |
02.01.2015 |
IDENTIFICATION DETAILS
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Name : |
SPORTKING INDIA LIMITED |
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Registered
Office : |
5/69, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
15.02.1989 |
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Com. Reg. No.: |
55-035050 |
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Capital
Investment / Paid-up Capital : |
Rs. 118.804 Millions |
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CIN No.: [Company Identification
No.] |
L17122DL1989PLC035050 |
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TAN: |
Not Available |
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PAN No.: [Permanent Account No.] |
AAACS3037Q |
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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
: |
The company is in the business of manufacturer and selling
cotton yarn, acrylic yarn and blended synthetic yearn. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (32) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4200000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The company has taken huge external borrowing, which acts as
threatening to the liquidity position of the company. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
ICRA |
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Rating |
Long Term Fund Based Limits: “BBB-” |
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Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
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Date |
June 2014 |
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Rating Agency Name |
ICRA |
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Rating |
Short Term Non fund based limits: “A3” |
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Rating Explanation |
Moderate degree of safety and higher credit
risk. |
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Date |
June 2014 |
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.
LOCATIONS
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Registered Office : |
5/69, Guru Mansion, Padam Singh Road, New
Delhi – 110005, India |
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Tel. No.: |
91-161-2845456 |
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Fax No.: |
Not Available |
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E-Mail : |
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Administrative Office : |
178, Col. Gurdial Singh Road, Civil Lines, Ludhiana – 141001, Punjab, India |
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Corporate Office/Factory 1. : |
Village Kanech, Near Sahnewal,
G.T. Road, Ludhiana – 141120, Punjab, India |
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Factory 2. |
Village Maherban, Rahon
Road, Ludhiana – 141416, Punjab, India |
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Factory 3. |
Village Barmalipur, Near Doraha,
G.T. Road, Ludhiana – 141416, Punjab, India |
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Factory 3 |
Village Jeeda, Kotkapura
Road, Distt. Bathinda –
151201, Punjab, India |
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Branch Office: |
Located at: · Chandigarh · Delhi · Haryana · Himachal Pradesh · Jammu and Kashmir · Punjab · Rajasthan · Uttrakhand |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Raj Kumar Avasthi |
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Designation : |
Chairman and Managing director |
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Address : |
172, Col. G.S. Road, Civil Lines, Ludhiana –
141001, Punjab, India |
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Date of Birth/Age : |
18.06.1946 |
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Qualification : |
Intermediate |
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Date of Appointment : |
01.10.2009 |
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PAN No.: |
AASPA1953E |
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DIN No.: |
01041890 |
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Name : |
Mr. Munish Avasthi |
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Designation : |
Managing director |
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Address : |
172, Col. G.S. Road, Civil Lines, Ludhiana –
141001, Punjab, India |
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Date of Birth/Age : |
26.06.1973 |
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Qualification : |
Graduate |
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Date of Appointment : |
25.10.2007 |
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PAN No.: |
AAEPA1819K |
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DIN No.: |
00442425 |
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Name : |
Mr. Sunil Kumar Puri |
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Designation : |
Director |
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Address : |
G-171, B.R.S. Nagar, Ludhiana
– 141008, Punjab, India |
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Date of Birth/Age : |
21.03.1951 |
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Qualification : |
B. Tech |
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Date of Appointment : |
26.12.2005 |
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DIN No.: |
00425213 |
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Name : |
Mr. Ajay Chaudhry |
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Designation : |
Director |
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Address : |
76, Green Park, Civil Line, Ludhiana –
141001, Punjab, India |
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Date of Birth/Age : |
19.10.1953 |
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Qualification : |
B. sc., LL.B |
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Date of Appointment : |
25.04.2006 |
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DIN No.: |
00055733 |
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Name : |
Mr. Harbhajan Kaur
Bal |
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Designation : |
Director |
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Address : |
H. No. 2322, Phase-XI, Mohali – 160055,
Punjab, India |
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Date of Birth/Age : |
12.06.1939 |
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Qualification : |
M.A. PH. D |
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Date of Appointment : |
25.04.2006 |
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DIN No.: |
00008576 |
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Name : |
Mr. Naresh Kumar Jain |
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Designation : |
Executive director |
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Address : |
200/A, Col Gurdial Singh Road, Civil Lines, Ludhiana – 141001, Punjab, India |
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Date of Birth/Age : |
07.08.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.10.2009 |
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PAN No.: |
ACGPJ0219C |
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DIN No.: |
00254045 |
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KEY EXECUTIVES
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Name : |
Mr. Nikhil Kalra |
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Designation : |
Secretary |
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Address : |
410, Street No.9, Upkar Nagar,
Civil Lines, Ludhiana – 141001, Punjab, India |
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Date of Birth/Age : |
04.11.1987 |
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Date of Appointment : |
10.04.2013 |
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PAN No.: |
BCLPK0138B |
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Name : |
Mr. Parveen K. Gupta |
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Designation : |
Chief Financial Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2014
SHAREHOLDERS DETAILS FILE ATTACHED
BUSINESS DETAILS
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Line of Business : |
The company is in the business of manufacturer and selling
cotton yarn, acrylic yarn and blended synthetic yearn. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Applicable |
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Imports : |
Not Applicable |
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Terms : |
Not Divulged |
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 : |
· State Bank of India, IFB Branch, Golden Tower, Near Dholewal Chowk, G.T Road, Ludhiana - 141003, Punjab, India · Central Bank of India, Mid Corporate Branch, 369, R.K. Road, Industrial Area -A, Ludhiana - 141003, Punjab, India · Punjab National Bank, International Banking Branch, Industrial Area A, Ludhiana - 141003, Punjab, India · Punjab and Sind Bank, Industrial Finance Branch, Dholewal Chowk, Ludhiana, Punjab, India · Allahabad Bank, Link Road, Partap Chowk, Ludhiana, Punjab, India · State Bank of Patiala, Specialized Commercial Branch, Aarti Complex, Miller Ganj, Ludhiana, Punjab, India |
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Facilities : |
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Auditors : |
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Name : |
Rawla and Company Chartered Accountants |
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Address : |
504, Surya Kiran Building, 19 K.G. Marg, New Delhi, India |
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Tel No.: |
91-11-41510425 |
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Fax No. |
91-11-14510427 |
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Email. |
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PAN No.: |
AAAFR1524Q |
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Associates: |
· Sobhagia Clothing Company · Sobhagia Sales Private Limited · Classic Wears Private Limited · Aradhana Fabrics Private limited · Marvel Dyers and Processors Private Limited · N.T.M. Shawls Private Limited ·
Namokar Capital
Services Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
20000000 |
Redeemable Preference Shares |
Rs.10/- each |
Rs.200.000 Millions |
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Total |
|
Rs.250.000
Millions |
Issued
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
3561000 |
Equity Shares |
Rs.10/- each |
Rs.35.610
Millions |
|
8516200 |
5% Redeemable Non-cumulative Preference Shares |
Rs.10/- each |
Rs.85.162
Millions |
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Total |
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Rs. 120.772 Millions |
Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
29,77,000 |
Equity Shares |
Rs.10/- each |
Rs.29.770
Millions |
|
85,16,200 |
5% Redeemable Non-cumulative Preference Shares |
Rs.10/- each |
Rs.85.162
Millions |
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Equity Shares |
Rs.10/- each |
Rs.5.840
Millions |
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Less: Calls in Arrears |
|
Rs. 1.968
Millions |
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Total |
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Rs. 118.804 Millions |
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 |
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(1)Shareholders' Funds |
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(a) Share Capital |
118.804 |
118.804 |
118.802 |
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(b) Reserves & Surplus |
1355.527 |
1081.116 |
759.371 |
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(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 |
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Total
Shareholders’ Funds (1) + (2) |
1474.331 |
1199.920 |
878.173 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
3398.951 |
3223.352 |
1726.965 |
|
(b) Deferred tax liabilities
(Net) |
310.100 |
154.2 |
229.200 |
|
(c) Other long term
liabilities |
10.992 |
0.527 |
0.595 |
|
(d) long-term provisions |
39.743 |
27.586 |
15.559 |
|
Total
Non-current Liabilities (3) |
3759.786 |
3405.665 |
1972.319 |
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(4) Current Liabilities |
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|
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(a) Short term borrowings |
2814.303 |
2408.349 |
1878.719 |
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(b) Trade payables |
304.071 |
159.784 |
1022.307 |
|
(c) Other current liabilities |
839.438 |
580.937 |
1466.486 |
|
(d) Short-term provisions |
75.605 |
58.334 |
3.242 |
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Total
Current Liabilities (4) |
4033.417 |
3207.404 |
4370.754 |
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TOTAL |
9267.534 |
7812.989 |
7221.246 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i)
Tangible assets |
4967.131 |
4278.846 |
3687.572 |
|
(ii) Intangible Assets |
4.879 |
6.772 |
10.086 |
|
(iii) Capital work-in-progress |
5.147 |
24.414 |
302.911 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
71.491 |
115.727 |
148.955 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5048.648 |
4425.759 |
4149.524 |
|
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(2) Current assets |
|
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(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2373.849 |
1938.84 |
1738.925 |
|
(c) Trade receivables |
979.196 |
781.017 |
882.967 |
|
(d) Cash and cash equivalents |
43.163 |
92.671 |
96.421 |
|
(e) Short-term loans and
advances |
349.173 |
279.536 |
89.145 |
|
(f) Other current assets |
473.505 |
295.166 |
264.264 |
|
Total
Current Assets |
4218.886 |
3387.230 |
3071.722 |
|
|
|
|
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TOTAL |
9267.534 |
7812.989 |
7221.246 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
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Income |
10648.801 |
8597.903 |
7617.142 |
|
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Other Income |
24.126 |
18.618 |
15.813 |
|
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TOTAL
(A) |
10672.927 |
8616.521 |
7632.955 |
|
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Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
6575.823 |
5258.288 |
4805.957 |
|
|
Purchases of Stock-in-Trade |
5.001 |
433.860 |
1068.829 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
56.170 |
(210.981) |
(176.874) |
|
|
Employees benefits expense |
517.024 |
405.461 |
290.306 |
|
|
Other expenses |
1809.814 |
1361.322 |
1018.984 |
|
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TOTAL
(B) |
8963.832 |
7247.950 |
7007.202 |
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Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
1709.095 |
1368.571 |
625.753 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
812.455 |
707.644 |
520.716 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
896.640 |
660.927 |
105.037 |
|
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|
|
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|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
466.330 |
408.755 |
258.088 |
|
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|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
430.310 |
252.172 |
(153.051) |
|
|
|
|
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|
Less |
TAX
(I) |
155.899 |
(69.570) |
107.691 |
|
|
|
|
|
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|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
274.411 |
321.742 |
(260.742) |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD (K) |
579.307 |
261.865 |
526.865 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
4.300 |
4.300 |
4.258 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S (J+K+L-M) |
849.418 |
579.307 |
261.865 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
5661.155 |
3660.600 |
3225.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
186.341 |
191.855 |
318.012 |
|
|
Stores & Spares |
41.509 |
33.699 |
34.046 |
|
|
Capital Goods |
338.979 |
158.886 |
390.146 |
|
|
Dyes & Chemicals |
0.000 |
2.171 |
1.324 |
|
|
TOTAL IMPORTS |
566.829 |
386.611 |
743.528 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
77.06 |
90.35 |
(73.22) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
2.58 |
3.74 |
(3.42) |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
16.05 |
15.92 |
8.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.65 |
3.24 |
(2.21) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.21 |
(0.17) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.21 |
4.69 |
4.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.06 |
0.70 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
118.802 |
118.804 |
118.804 |
|
Reserves & Surplus |
759.371 |
1081.116 |
1355.527 |
|
Net
worth |
878.173 |
1199.920 |
1474.331 |
|
|
|
|
|
|
long-term borrowings |
1726.965 |
3223.352 |
3398.951 |
|
Short term borrowings |
1878.719 |
2408.349 |
2814.303 |
|
Total
borrowings |
3605.684 |
5631.701 |
6213.254 |
|
Debt/Equity
ratio |
4.106 |
4.693 |
4.214 |
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 |
7617.142 |
8597.903 |
10648.801 |
|
|
|
12.876 |
23.853 |
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 |
7617.142 |
8597.903 |
10648.801 |
|
Profit |
(260.742) |
321.742 |
274.411 |
|
|
(3.42%) |
3.74% |
2.58% |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
Long term
borrowings |
|
|
|
Loans and advances from directors |
10.000 |
10.000 |
|
|
|
|
|
Total |
10.000 |
10.000 |
MANAGEMENT'S
DISCUSSION AND ANALYSIS
BUSINESS REVIEW:
ECONOMIC OUTLOOK
Global economic activity is expected to strengthen in 2014-15 on the back of some recovery in advanced economies. The Euro area is also expected to register a growth rate of above 1 per cent as against contraction witnessed in 2012 and 2013. The European Central Bank’s monetary policy measures, most significantly introduction of the negative deposit facility interest rate are expected to boost economic activity in Europe. In addition, the performance of the real sector in the US (that is likely affect the pace of taper) is a major factor that would impact the global economic situation in 2014-15. The growth outlook for emerging Asian economies is generally benign with some grappling with inflation, structural bottlenecks, and external imbalances. The slowdown in emerging economies comes at an inopportune juncture.
Downward movement along with heightened volatility, witnessed, for example, in fixed investment post 2008- 09 in India, often tends to magnify the impact and transmission channels of shocks (e.g. below-normal monsoons and/or upshot in oil prices) and hampers build-up of positive expectations. Under such circumstances, the Indian economy can recover only gradually with the GDP at factor cost at constant prices expected to grow in the range of 5.4 – 5.9 per cent in 2014-15. This assumes the revival of growth in the industrial sector witnessed in April 2014 to continue for the rest of the year, the generally benign outlook on oil prices (notwithstanding the uncertainty on account of recent developments in the Middle East), and the absence of pronounced destabilizing shocks (including below-normal monsoons). Growth in the above range implies a pick-up, aided by an improved external economic situation characterized by a stable current account and steady capital inflows, improved fiscal situation and, on the supply side, robust electricity generation and some recovery in manufacturing and non-government services.
Growth in 2014-15 is expected to remain more on the lower side of the range given above, for the following reasons: (i) steps undertaken to restart the investment cycle (including project clearances and incentives given to industry) are perceived to be playing out only gradually; (ii) the benign growth outlook in some Asian economies, particularly China; (iii) still elevated levels of inflation that limit the scope of the RBI to reduce policy rates; and (iv) expectation of below-normal monsoons. Downside risk also emerges from prolonging of the geo-political tensions. On the upside, such factors as institutional reform to quicken implementation of large projects and a stronger than expected recovery in major advanced economies would help the Indian economy clock a higher rate of growth.
FINANCIAL ANALYSIS
PRODUCTION / SALES
REVIEW
During the year the company achieved a production of 42983 MT of cotton/synthetic yarn as compared to 38364 MT in the previous year showing an increase of about 12.04%. The company achieved a gross turnover/operating income of Rs. 10672.9000 Millions as compared to Rs. 8616.500 Millions in the previous year showing a growth of about 23.87%. The CIF value of exports increased to Rs. 5753.100 Millions against Rs. 3738.100 Millions in the previous year showing a growth of about 53.90%. The Company is recognized as ‘Trading House’ by Govt. of India.
.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10478468 |
18/01/2014 |
150,000,000.00 |
CENTRAL BANK OF
INDIA |
MID CORPORATE
BRANCH,, 369, R.K. ROAD, INDUSTRIAL |
B96761945 |
|
2 |
10472745 |
30/12/2013 |
450,000,000.00 |
PUNJAB NATIONAL
BANK |
INTERNATIONAL
BANKING BRANCH, INDUSTRIAL AREA - A, LUDHIANA, PUNJAB - 141003, INDIA |
B94384294 |
|
3 |
10361144 |
11/05/2012 |
500,000,000.00 |
PUNJAB NATIONAL BANK
|
INTERNATIONAL
BANKING BRANCH, INDUSTRIAL AREA A, LUDHIANA, PUNJAB - 141003, INDIA |
B41837121 |
|
4 |
10328062 |
25/11/2011 |
20,000,000.00 |
PUNJAB & SIND
BANK |
IINDUSTRIAL FINANCE
BRANCH, DHOLEWAL CHOWK, G. T. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B29475639 |
|
5 |
10317799 |
19/10/2011 |
350,000,000.00 |
PUNJAB AND SIND
BANK |
INDUSTRIAL
FINANCE BRANCH, CHOWK DHOLEWAL, G. T. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B25366873 |
|
6 |
10303226 |
04/01/2012 * |
750,000,000.00 |
STATE BANK OF
INDIA |
SCB MILLER GANJ,
PAHWA HOSPITAL COMPLEX MILLER GANJ, LUDHIANA, PUNJAB - 141003, INDIA |
B33221250 |
|
7 |
10296905 |
04/01/2012 * |
750,000,000.00 |
ALLAHABAD BANK |
LINK ROAD,
LUDHIANA, LUDHIANA, PUNJAB - 141003, INDIA |
B33204819 |
|
8 |
10289462 |
22/04/2011 |
100,000,000.00 |
PUNJAB NATIONAL
BANK |
INTERNATIONAL
BANKING BRANCH, INDUSTRIAL AREA, LUDHIANA, PUNJAB - 141008, INDIA |
B73791386 |
|
9 |
10276310 |
04/01/2012 * |
750,000,000.00 |
CENTRAL BANK OF
INDIA |
MILLER GANJ,
LUDHIANA, PUNJAB - 141003, INDIA |
B33216136 |
|
10 |
10233150 |
04/01/2012 * |
270,000,000.00 |
ALLAHABAD BANK |
LINK ROAD,
LUDHIANA, PUNJAB - 141003, INDIA |
B33186818 |
* Date of charge modification
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Vehicles
· Furniture and Fixture
· Computer Software
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH JUNE 2014
|
Particulars |
Three months ended |
|
|
30.06.2014 |
||
|
Unaudited |
||
|
1 |
Income from Operations |
|
|
|
(a) Net sates/income from operations (Net of excise duty) |
2724.472 |
|
|
(b) Other Operating Income |
53.938 |
|
|
Total income from operations (net) |
2778.440 |
|
2 |
Expenses |
|
|
|
(a) Cost of materials consumed |
1897.816 |
|
|
(b) Purchases of stock-in trade |
1.703 |
|
|
(c) Changes in inventories of finished goods. work-in-progress and stock in trade |
(116.555) |
|
|
(d) Employee benefits expense |
136.005 |
|
|
(e) Depreciation and Amortization Expenses |
176.238 |
|
|
(f) Other Expenses |
277.419 |
|
|
Total expenses |
2594.001 |
|
3 |
Profit/ (Loss) from operations before other Income, finance costs and exceptional Items (1-2) |
184.439 |
|
4 |
Other Income |
31.566 |
|
5 |
Profit/ (Loss) from operations before other income, finance costs and exceptional items (3+4) |
216.005 |
|
6 |
Finance Costs |
214.911 |
|
7 |
Profit/ (Loss) from ordinary activities after finance cost but before exceptional items (5-6) |
1.094 |
|
8 |
Exceptional items |
0.000 |
|
9 |
Profit/ (Loss) from ordinary activities before tax (7+8) |
1.094 |
|
10 |
Tax expenses |
0.000 |
|
11 |
Net Profit / (Loss) from ordinary activities after tax (9-10) |
1.094 |
|
12 |
Extraordinary item (net of tax expense) |
0.000 |
|
13 |
Net Profit / (Loss) for the period (11-12) |
1.094 |
|
14 |
Share of profit' (loss) of associates |
0.000 |
|
15 |
Minority Interest |
0.000 |
|
16 |
Net Profit/ (Loss) after taxes, minority interest and share of profit/(loss) of associates (13+14+15) |
1.094 |
|
17 |
Paid up equity share capital (Face Value of Rs 10/-each) |
33.642 |
|
18 |
Reserve excluding Revaluation Reserve as per Balance Sheet of previous accounting year |
|
|
19.i |
Earnings per share (before extraordinary items) of Rs.10/- each (not annualized): |
|
|
|
(a) Basic |
0.31 |
|
|
(b) Diluted |
0.31 |
|
|
|
|
|
A |
PARTICULARS OF SHAREHOLDING |
|
|
1 |
A. Public Shareholding |
|
|
|
- Number of shares |
1134250 |
|
|
- Percentage of shareholding |
31.85 |
|
2 |
Promoters and Promoter group shareholding |
|
|
|
a) Pledged / Encumbered |
|
|
|
- Number of shares |
60000 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
24.72 |
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
16.85 |
|
|
b) Non Encumbered |
|
|
|
- Number of shares |
1826750 |
|
|
- Percentage of shares (as a % of the total shareholding of Promoter & Promoter group) |
75.28 |
|
|
- Percentage of shares (as a % of the total Share Capital of the Company) |
51.30 |
|
B |
INVESTOR COMPLAINTS |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed off during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
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.63.29 |
|
|
1 |
Rs.98.39 |
|
Euro |
1 |
Rs.76.31 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
MTN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.