MIRA INFORM REPORT
|
Report No. : |
301595 |
|
Report Date : |
07.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
ITL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
111, Sector-B, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.01.1989 |
|
|
|
|
Com. Reg. No.: |
10-005037 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.32.544 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L28939MP1989PLC005037 |
|
|
|
|
TIN No.: |
Not Available |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BPLI00127B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI3932N |
|
|
|
|
Legal Form : |
A Public Limited Liability Company.
The Company’s Shares are Listed on the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing of Band Saw Machines, CNC Tube Mills,
Machine tools and Sale and Purchase of Hydraulic items etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There seems dip in the sales turnover as well as profit of the company
during 2014. However, trade relations are fair. Business is active. Payment terms
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BB |
|
Rating Explanation |
Have moderate risk of default |
|
Date |
08.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
08.04.2014 |
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
|
Registered Office / Factory : |
111, Sector-B, |
|
Tel. No.: |
91-731-2721767 / 2722802 / 2722020 / 2723316 / 3044400 / 3044409 |
|
Fax No.: |
91-731-2722372 / 2721110 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Rajendra Singh Jain |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
20.04.1954 |
|
Qualification : |
B.E. (Mech.), Hon. Ph.D. |
|
Date of Appointment : |
01.02.1993 |
|
|
|
|
Name : |
Mr. Mahendra Singh Jain |
|
Designation : |
Joint Managing Director |
|
Date of Birth/Age : |
19.10.1957 |
|
Qualification : |
M.Com, PGDBM |
|
Date of Appointment : |
01.02.1993 |
|
|
|
|
Name : |
Mr. Manohar Singh Jain |
|
Designation : |
Non-Executive Director |
|
|
|
|
Name : |
Mr. N. Chakraborty |
|
Designation : |
Non - Executive Independent Director |
|
Date of Birth/Age : |
24.10.1943 |
|
Qualification : |
B.Com, L.L.B. |
|
Date of Appointment : |
01.05.1999 |
|
DIN No.: |
00443524 |
|
|
|
|
Name : |
Mr. Dinesh Jain |
|
Designation : |
Non - Executive Independent Director |
|
Date of Birth/Age : |
25.05.1959 |
|
Qualification : |
M.Com, L.L.B. |
|
Date of Appointment : |
19.08.1994 |
|
DIN No.: |
00256177 |
|
|
|
|
Name : |
Dr. S.K. Kapoor |
|
Designation : |
Non - Executive Independent Director |
|
Date of Birth/Age : |
12.10.1931 |
|
Qualification : |
B.Com, L.L.B. |
|
Date of Appointment : |
30.12.2005 |
|
DIN No.: |
00443807 |
|
|
|
|
Name : |
Dr. Pratima Jain |
|
Designation : |
Independent and Non-Executive Director |
|
Date of Birth/Age : |
26.09.1978 |
|
Qualification : |
P.HD. (Finance), B.Com, MBA(Finance) Company Secretary (CS) |
|
Date of Appointment : |
27.09.2014 |
|
DIN No.: |
06955605 |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
1372487 |
41.62 |
|
|
131100 |
3.98 |
|
|
1503587 |
45.60 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
1503587 |
45.60 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
375870 |
11.40 |
|
|
|
|
|
|
1069168 |
32.43 |
|
|
275210 |
8.35 |
|
|
73465 |
2.23 |
|
|
72304 |
2.19 |
|
|
1161 |
0.04 |
|
|
1793713 |
54.40 |
|
Total Public shareholding (B) |
1793713 |
54.40 |
|
Total (A)+(B) |
3297300 |
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) |
3297300 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Band Saw Machines, CNC Tube Mills,
Machine tools and Sale and Purchase of Hydraulic items etc. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Available |
|
|
|
|
Imports : |
Not Available |
|
|
|
|
Terms : |
|
|
Selling : |
Not Available |
|
|
|
|
Purchasing : |
Not Available |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Customers : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Sme Khel Prashal Branch, Race Course Road, Indore, Madhya Pradesh, India · Bank of Baroda, Siyaganj Branch, Indore, Madhya Pradesh, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||||||||
|
Name : |
Mahaveer M. Jain and Company Chartered Accountants |
||||||||||||||||||||||||||||||
|
Address : |
105, Silver Sanchora Castle, 7-8, R.N.T. Marg, Indore – 452001, Madhya Pradesh, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Advisors/Consultants
: |
|
||||||||||||||||||||||||||||||
|
Name : |
Mahendra Badjatya and Company Chartered Accountants |
||||||||||||||||||||||||||||||
|
Address : |
208, Mourya Centre, Race Course Road, Indore, Madhya Pradesh, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Memberships : |
-- |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Collaborators : |
-- |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Subsidiary Company
: |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
A Company
controlled by relatives of Directors : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3297300 |
Equity Shares |
Rs. 10/- each |
Rs.32.973 Millions |
|
|
Less : Amount due on a/c of Allotment money |
|
Rs.0.429 Millions |
|
|
Total |
|
Rs.32.544
Millions |
Details of equity shares held by shareholders holding more than 5%
shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
|
|
|
|
Shri Rajendra Singh Jain |
363400 |
10.02% |
|
Shri Mahendra Singh Jain |
242713 |
7.36% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
32.544 |
32.544 |
32.544 |
|
(b) Reserves & Surplus |
173.563 |
164.057 |
148.774 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
206.107 |
196.601 |
181.318 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
32.317 |
26.839 |
32.658 |
|
(b) Deferred tax liabilities (Net) |
15.707 |
15.596 |
15.712 |
|
(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) |
48.024 |
42.435 |
48.370 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
133.799 |
125.369 |
92.051 |
|
(b) Trade
payables |
87.605 |
75.794 |
85.357 |
|
(c) Other
current liabilities |
52.292 |
54.150 |
51.430 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
273.696 |
255.313 |
228.838 |
|
|
|
|
|
|
TOTAL |
527.827 |
494.349 |
458.526 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
96.660 |
107.368 |
110.242 |
|
(ii)
Intangible Assets |
5.764 |
8.031 |
6.725 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
1.602 |
|
(b) Non-current Investments |
10.938 |
13.074 |
16.845 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.252 |
3.290 |
1.603 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
117.614 |
131.763 |
137.017 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
3.857 |
8.621 |
8.621 |
|
(b)
Inventories |
177.668 |
133.093 |
103.777 |
|
(c) Trade
receivables |
152.584 |
138.580 |
120.620 |
|
(d) Cash
and cash equivalents |
19.601 |
18.301 |
20.926 |
|
(e)
Short-term loans and advances |
56.503 |
63.991 |
67.565 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
410.213 |
362.586 |
321.509 |
|
|
|
|
|
|
TOTAL |
527.827 |
494.349 |
458.526 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
440.004 |
481.897 |
496.392 |
|
|
|
Other Income |
19.646 |
1.329 |
1.991 |
|
|
|
TOTAL (A) |
459.650 |
483.226 |
498.383 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
242.645 |
274.213 |
289.854 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
0.884 |
(22.921) |
(17.096) |
|
|
|
Employees benefits expense |
58.602 |
52.075 |
47.156 |
|
|
|
Other expenses |
108.196 |
124.616 |
120.902 |
|
|
|
TOTAL (B) |
410.327 |
427.983 |
440.816 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
49.323 |
55.243 |
57.567 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
22.747 |
20.923 |
14.782 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
26.576 |
34.320 |
42.785 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.711 |
9.618 |
8.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
16.865 |
24.702 |
34.211 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.486 |
7.545 |
13.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.379 |
17.157 |
20.444 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.057 |
3.774 |
2.053 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
15.000 |
15.000 |
|
|
|
Dividend |
1.602 |
1.602 |
3.203 |
|
|
|
Tax on Dividend |
0.272 |
0.272 |
0.520 |
|
|
BALANCE CARRIED
TO THE B/S |
3.562 |
4.057 |
3.774 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Goods on CIF / FOB Basis and Advance from customers |
7.345 |
0.752 |
0.000 |
|
|
TOTAL EARNINGS |
7.345 |
0.752 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.50 |
5.27 |
6.28 |
|
QUARTERLY RESULTS
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
94.900 |
137.100 |
|
Total Expenditure |
|
80.700 |
125.600 |
|
PBIDT (Excl OI) |
|
14.300 |
11.600 |
|
Other Income |
|
0.100 |
0.000 |
|
Operating Profit |
|
14.400 |
11.600 |
|
Interest |
|
7.300 |
6.500 |
|
Exceptional Items |
|
0.000 |
0.000 |
|
PBDT |
|
7.100 |
5.100 |
|
Depreciation |
|
2.200 |
2.400 |
|
Profit Before Tax |
|
4.900 |
2.800 |
|
Tax |
|
1.500 |
0.900 |
|
Provisions and
contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
3.400 |
1.900 |
|
Extraordinary Items |
|
0.000 |
0.000 |
|
Prior Period
Expenses |
|
0.000 |
0.000 |
|
Other Adjustments |
|
0.000 |
0.000 |
|
Net Profit |
|
3.400 |
1.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.59 |
3.56 |
4.12 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
11.21 |
11.46 |
11.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.26 |
5.13 |
7.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.13 |
0.19 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.81 |
0.77 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50 |
1.42 |
1.40 |
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 |
32.544 |
32.544 |
32.544 |
|
Reserves & Surplus |
148.774 |
164.057 |
173.563 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
181.318 |
196.601 |
206.107 |
|
|
|
|
|
|
long-term borrowings |
32.658 |
26.839 |
32.317 |
|
Short term borrowings |
92.051 |
125.369 |
133.799 |
|
Total
borrowings |
124.709 |
152.208 |
166.116 |
|
Debt/Equity
ratio |
0.688 |
0.774 |
0.806 |
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 |
496.392 |
481.897 |
440.004 |
|
|
|
(2.920) |
(8.693) |
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
|
496.392 |
481.897 |
440.004 |
|
Profit |
20.444 |
17.157 |
11.379 |
|
|
4.12% |
3.56% |
2.59% |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2014 Rs.
In Millions |
31.03.2014 Rs.
In Millions |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances
from related parties |
|
|
|
From Directors |
4.824 |
5.925 |
|
Total |
4.824 |
5.925 |
CORPORATE
INFORMATION
Subject is engaged in Manufacturing of Band Saw Machines, CNC Tube Mills, Machine tools and Sale/purchase of Hydraulic items etc. Registered Office of the Company is situated at 111, Sector B, Industrial Area Sanwer Road, Indore 452015 (M.P.)
OPERATIONS
During the year, the sales and other Income of Company decreased from Rs.483.226 Millions to Rs.459.650 Millions slightly due to overall recession in the market & due to above, profit after Tax of the Company for the year has also decreased slightly from Rs.17.157 Millions to Rs.11.319 Millions.
FUTURE OUTLOOK
The growth outlook for the Indian economy in the near term remains positive on account of inter-alia, the following factors:
(a) Expectations that the industrial sector would remain buoyant;
(b) Increase in corporate sales and profitability;
(c) Pick-up in order books and capacity utilization as per different survey results;
(d) Turnaround in exports with improving global conditions;
(e) Pick-up in lead services indicators for transportation, telecommunication and construction and;
(f) Revival in credit demand from the private sector.
OUTLOOK:
In current year the Company is confident of growing much faster in comparison to economy & capital goods industry looking to the present level of orders and enquiries for Manufacturing Division i.e. Bandsaw and Tube & Pipe Manufacturing equipment are showing good sign ofrecovery.
ITL's outlook on over-seas markets and domestic market are positive on account of its strength on cutting edge technology, cost and effective after sales services
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER ENDED 30TH SEPTEMBER 2014
(Rs. In Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
|
|
|
1.
Income from operations |
|
|
|
|
Net sales/ Income from operation (net of excise duty) |
151.665 |
105.694 |
257.359 |
|
Less: Other operating income |
14.540 |
10.771 |
25.311 |
|
Total
income from Operations(net) |
137.125 |
94.923 |
232.048 |
|
2.Expenditure |
|
|
|
|
a)
(Increase) / Decrease in Stock |
(2.930) |
(14.405) |
(17.355) |
|
b)
Consumption of Raw materials |
91.528 |
62.716 |
154.244 |
|
c)
Staff Cost |
15.371 |
14.848 |
30.219 |
|
d)
Depreciation |
2.346 |
2.213 |
4.559 |
|
e)
Other Expenditures |
21.598 |
17.504 |
39.102 |
|
Total expenses |
127.913 |
82.876 |
210.769 |
|
3. Profit from operations before other income and
financial costs |
9.212 |
12.047 |
21.279 |
|
4. Other income |
0.038 |
0.129 |
0.167 |
|
5. Profit from ordinary activities before finance costs |
9.250 |
12.176 |
21.446 |
|
6. Finance costs |
6.492 |
7.259 |
13.751 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
2.758 |
4.917 |
7.695 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary activities before tax
Expense: |
2.758 |
4.917 |
7.695 |
|
10.Tax expenses |
0.900 |
1.500 |
2.400 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
1.858 |
3.417 |
5.295 |
|
12.Extraordinary Items (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for the period (11 -12) |
1.858 |
3.417 |
5.295 |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
32.544 |
32.544 |
32.544 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Basic and Diluted EPS |
0.57 |
1.05 |
1.62 |
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
1793713 |
1793713 |
1793713 |
|
- Percentage of shareholding |
54.40% |
54.40% |
54.40% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
Nil |
Nil |
Nil |
|
Percentage of shares (as a % of total share capital of the
company) |
Nil |
Nil |
Nil |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
1503587 |
1503587 |
1503587 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
100.00% |
100.00% |
100.00% |
|
Percentage of shares (as a % of total share capital of the
company) |
45.60% |
45.60% |
45.60% |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
|
Nil |
|
|
Receiving during the quarter |
|
2 |
|
|
Disposed of during the quarter |
|
2 |
|
|
Remaining unreserved at the end of the quarter |
|
Nil |
|
UNAUDITED SEGMENT
WIE REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars
|
Quarter Ended ( Unaudited) |
Quarter Ended ( Unaudited) |
Half Year Ended ( Unaudited) |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
1. Segment Revenue |
|
|
|
|
Machine Manufacturing |
106.437 |
67.087 |
173.524 |
|
Trading Activities |
41.945 |
35.733 |
77.678 |
|
Total |
148.382 |
102.820 |
251.202 |
|
Less : Inter Segment Revenue |
11.257 |
7.897 |
19.154 |
|
Net Sales |
137.125 |
94.923 |
232.048 |
|
|
|
|
|
|
2. Segment Result (Profit before
Interest and Tax) |
|
|
|
|
Machine Manufacturing |
5.812 |
10.280 |
16.092 |
|
Trading Activities |
3.438 |
1.896 |
5.334 |
|
Total |
9.250 |
12.176 |
21.426 |
|
Less : (i) Interest |
0.000 |
7.259 |
13.751 |
|
Profit before Tax |
9.250 |
4.917 |
7.675 |
|
|
|
|
|
|
3. Capital Employed |
|
|
|
|
Machine Manufacturing |
135.030 |
134.112 |
135.030 |
|
Trading Activities |
76.351 |
75.411 |
76.351 |
|
Total |
211.381 |
209.523 |
211.381 |
Notes:
1. The above results were taken on at the meeting of the Board of Director held on 14th November, 2014.
2. Previous quarter's figures have been regrouped where ever necessary.
3. Provision for Deferred Tax Liability for the quarter, if any, will be made at the end of the year.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10442060 |
03/08/2013 |
15,000,000.00 |
Madhya Pradesh Financial Corporation |
Finance House, Bombay Agra Road, Indore, Madhya Pradesh - 452001, India |
B81699662 |
|
2 |
10382439 |
06/10/2012 |
7,500,000.00 |
Bank Of Baroda |
Siyaganj
Branch 15/16 Jawahar Marg, Indore, Madhya |
B60432481 |
|
3 |
10344918 |
09/03/2012 |
30,000,000.00 |
Madhya Pradesh Financial Corporation |
Navratan Bagh, Indore, Madhya Pradesh - 452001, India |
B36031490 |
|
4 |
10327967 |
25/04/2013 * |
22,500,000.00 |
State Bank Of India |
Sme Branch, Khel Prashal, Race Course Road, Indore, Madhya Pradesh - 452001, India |
B75427161 |
|
5 |
10134243 |
07/05/2010 * |
5,000,000.00 |
State Bank Of Indore |
Industrial
Finance Branch, Race Course Road, Indo |
A86533114 |
|
6 |
90210484 |
25/07/2007 * |
35,000,000.00 |
M. P. Financial Corporation |
Finance House, A. B. Road,, Indore, Madhya Pradesh - 452001, India |
A20859633 |
|
7 |
90203190 |
27/12/2011 * |
195,000,000.00 |
State Bank Of India |
Industrial Finance Branch, Race Course Road, Indore, Madhya Pradesh - 452003, India |
B29396108 |
|
8 |
90207788 |
31/12/2011 * |
207,500,000.00 |
State Bank Of India |
Industrial Finance Branch, Khel Prashal, Indore, Madhya Pradesh - 452003, India |
B29396900 |
|
9 |
90204863 |
20/05/1993 * |
1,000,000.00 |
State Bank Of Indore |
Industrial Finance Branch, Khel Prashal Race Course Road, Indore, Madhya Pradesh, India |
- |
|
10 |
90204850 |
20/05/1994 * |
3,000,000.00 |
State Bank Of Indore |
Industrial Finance Branch, Khelprashal Race Course Road, Indore, Madhya Pradesh, India |
- |
|
11 |
90207306 |
15/02/1998 * |
3,000,000.00 |
State Bank Of Indore |
Industrial Finance Branch, Khel Prashal Race Course Road, Indore, Madhya Pradesh, India |
- |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records 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 records 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.63.38 |
|
UK Pound |
1 |
Rs.96.72 |
|
Euro |
1 |
Rs.75.80 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--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 |
|
27 |
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.