MIRA INFORM REPORT
|
Report No. : |
301928 |
|
Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
VISHNU CHEMICALS LIMITED (w.e.f. 23.08.2006) |
|
|
|
|
Formerly Known
As : |
KEYSTONE INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
6/3/662/B/4, 2nd Floor, Sri Sai Nilayam, Sangeet Nagar Colony, Somajiguda, Hyderabad – 500082, Telangana |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2014 |
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|
|
|
Date of
Incorporation : |
15.01.1993 |
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|
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Com. Reg. No.: |
01-046359 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.594.460
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L85200TG1993PLC046359 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDV00354E/
HYDV03911F |
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PAN No.: [Permanent Account No.] |
AAACU7238Q |
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Legal Form : |
A Public Limited Liability Company. The company’s Share are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer,
Exporter and Marketing of Chromium Chemicals and Other Specialty Chemicals |
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|
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3400000 |
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|
Status : |
Satisfactory |
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|
|
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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 satisfactory track record. The rating takes in to consideration long track record of the company
supported by diversified revenue profile with wide geographical presence catering
to both domestic as well as international markets and fair profitability
margins of the company. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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.
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 |
Inadequate credit quality and high credit
risk. |
|
Date |
29.09.2014 |
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.
INFORMATION DENIED BY
|
Name : |
Mr. Hari Krishna |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-40-66626680 |
|
Date : |
03.01.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
6/3/662/B/4, 2nd Floor, Sri Sai Nilayam, Sangeet Nagar Colony, Somajiguda, Hyderabad – 500082, Telangana, India |
|
Tel. No.: |
91-40-66626680 |
|
Fax No.: |
91-40-23314158 |
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E-Mail : |
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|
Website : |
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|
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Factory 1 : |
Survey No.15 Gaddapotharam, Medak District – 502319, Andhra Pradesh, India |
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Factory 2 : |
Survey No. 18-26 Nandini Road, Bhilai – 490026, Chhattisgarh, India |
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Factory 3 : |
Plot No. 57 Phase – III, IDA., Jeedimetla, Hyderabad - 500 055, Andhra Pradesh, India |
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Factory 4 : |
Plot No. 29 IOCL Road, J.N. Pharma City, Parawada, District Vishakapatnam - 531 019, Andhra Pradesh, India |
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Regional Office : |
Locate at:
|
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. |
|
Designation : |
Chairman and
Managing Director |
|
Address : |
Pushpam,
8-2-293/82/a/919/1, Road, No. 47, Jubli Hills, |
|
Date of Birth/Age : |
02.07.1957 |
|
Date of Appointment : |
02.01.2006 |
|
|
|
|
Name : |
Mr. Siddartha
Cherukuri |
|
Designation : |
Director |
|
Address : |
Pushpam ,
8-2-293/82/a/919/1, Road, No. 47, Jubli Hills, |
|
Date of Birth/Age : |
12.05.1985 |
|
Date of Appointment : |
02.01.2006 |
|
PAN No.: |
AGHPC0087C |
|
|
|
|
Name : |
Mrs. Manjula
Cherukuri |
|
Designation : |
Director |
|
Address : |
Pushpam , 8-2-293/82/a/919/1,
Road, No. 47, Jubli Hills, |
|
Date of Birth/Age : |
17.05.1965 |
|
Date of Appointment : |
02.01.2006 |
|
|
|
|
Name : |
Mr. U. Dileep Kumar |
|
Designation : |
Independent
Director |
|
Address : |
Plot No. 13,14,15-105, Yella Reddy Guda, Apsara Apts, Maruthi Nagar, Hyderabad, Andhra Pradesh, India |
|
Date of Birth/Age : |
10.08.1950 |
|
PAN No.: |
AAEPU9541J |
|
|
|
|
Name : |
Mr. V. Vimalanand |
|
Designation : |
Independent
Director |
|
Address : |
03.04.1965 |
|
Date of Birth/Age : |
# 6-4-423, Krishna Nagar, Bholakpur,
Musheerababd, Hyderabad – 500020, Andhra Pradesh, India |
|
PAN No.: |
ADPPV7505F |
|
|
|
|
Name : |
Mr. S. Chandrasekhar |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. B.S. Harikrishna |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
8959506 |
75.00 |
|
|
8959506 |
75.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
8959506 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
200 |
0.00 |
|
|
200 |
0.00 |
|
|
|
|
|
|
479483 |
4.01 |
|
|
|
|
|
|
1353091 |
11.33 |
|
|
845831 |
7.08 |
|
|
307909 |
2.58 |
|
|
239483 |
2.00 |
|
|
68426 |
0.57 |
|
|
2986314 |
25.00 |
|
Total Public shareholding (B) |
2986514 |
25.00 |
|
Total (A)+(B) |
11946020 |
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) |
11946020 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter and Marketing of Chromium Chemicals and Other Specialty Chemicals |
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|
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|
Products : |
Chemicals |
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Brand Names : |
-- |
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Agencies Held : |
-- |
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Exports : |
-- |
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Imports : |
-- |
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Terms : |
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Selling : |
-- |
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Purchasing : |
-- |
PRODUCTION STATUS
GENERAL INFORMATION
|
Suppliers : |
-- |
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Customers : |
-- |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
C K S Associates Chartered Accountant |
|
Address : |
87, Nagarjuna, Road # 3, Gagan Mahal Colony, Hyderabad –
500029, Andhra Pradesh, India |
|
|
|
|
Name : |
N. V. S. Kapardhi Cost Accountants |
|
Address : |
SRT-148, GHMC No. 7-1-621/468, S. R. Nagar, Hyderabad – 500038,
Telangana, India |
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|
|
|
Membership : |
-- |
|
|
|
|
Concerns in which
key management personnel are proprietors/directors : |
· Vasantha Transport Corporation · KMS Infrastructure Limited · Vishnu Life Sciences Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.00 Millions |
|
60000000 |
7% Redeemable Preference Shares |
Rs.10/- each |
Rs.600.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.750.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11946020 |
Equity Shares |
Rs.10/- each |
Rs.119.460
Millions |
|
47500000 |
7% Redeemable Preference Shares |
Rs.10/- each |
Rs.475.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.594.460 Millions |
1. All the equity shares carry equal rights and obligations including for dividend and with respect to voting rights.
2. 7% Redeemable Preference Shares which are cumulative in nature, are liable to be redeemed after the expiry of ten years from the date of its issue
3. "Dividend on Redeemable Preference
Share Capital:
Dividends on the 7% Redeemable Preference Share Capital of Rs. 475.000 Millions has not been provided for the year 2013-14. However as the Preference Shares are cumulative in nature, the amount payable as dividend of Rs. 33.250 Millions (Rs.3325.000 Millions) is being shown as a Contingent liability."
4. Names of shareholders holding more than 5% of the Share capital and their shareholding.
EQUITY SHARES
|
S. No. |
Name of shareholder |
|
Shares |
|
1. |
Ch. Krishna Murthy |
- No of Shares |
6,219,790 |
|
|
|
- % held |
52.07 |
|
2. |
Ch. Manjula |
- No of Shares |
1,614,048 |
|
|
|
- % held |
13.51 |
|
3. |
Ch. Sidhartha |
- No of Shares |
1,125,668 |
|
|
|
- % held |
9.42 |
PREFERENCE SHARES
|
S. No. |
Name of shareholder |
|
Shares |
|
1. |
Ch. Krishna Murthy |
- No of Shares |
44,100,000 |
|
|
|
- % held |
92.84 |
|
2. |
Ch. Manjula |
- No of Shares |
3,250,000 |
|
|
|
- % held |
6.84 |
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 |
594.460 |
594.460 |
594.460 |
|
(b) Reserves & Surplus |
601.729 |
470.513 |
397.172 |
|
(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) |
1196.189 |
1064.973 |
991.632 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
436.775 |
261.414 |
474.772 |
|
(b) Deferred tax liabilities (Net) |
272.357 |
251.278 |
215.927 |
|
(c) Other long term
liabilities |
515.400 |
272.156 |
241.900 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
1224.532 |
784.848 |
932.599 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
1072.014 |
955.194 |
750.133 |
|
(b) Trade
payables |
452.199 |
729.033 |
754.440 |
|
(c) Other
current liabilities |
257.327 |
536.618 |
566.926 |
|
(d) Short-term
provisions |
52.305 |
50.521 |
27.174 |
|
Total Current
Liabilities (4) |
1833.845 |
2271.366 |
2098.673 |
|
|
|
|
|
|
TOTAL |
4254.566 |
4121.187 |
4022.904 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1964.266 |
2063.765 |
1928.484 |
|
(ii) Intangible
Assets |
0.268 |
0.536 |
0.805 |
|
(iii)
Capital work-in-progress |
363.477 |
320.717 |
424.871 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.040 |
3.040 |
2.130 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
88.071 |
152.528 |
125.858 |
|
(e) Other
Non-current assets |
0.072 |
0.000 |
2.670 |
|
Total Non-Current
Assets |
2419.194 |
2540.586 |
2484.818 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
860.515 |
808.174 |
696.223 |
|
(c) Trade
receivables |
624.677 |
418.098 |
496.360 |
|
(d) Cash
and cash equivalents |
67.482 |
93.951 |
99.441 |
|
(e) Short-term
loans and advances |
251.737 |
199.849 |
205.180 |
|
(f) Other
current assets |
30.961 |
60.529 |
40.882 |
|
Total
Current Assets |
1835.372 |
1580.601 |
1538.086 |
|
|
|
|
|
|
TOTAL |
4254.566 |
4121.187 |
4022.904 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3521.688 |
3249.892 |
3293.660 |
|
|
|
Other Income |
7.555 |
10.809 |
22.859 |
|
|
|
TOTAL (A) |
3529.243 |
3260.701 |
3316.519 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1528.996 |
1427.258 |
1519.971 |
|
|
|
Purchases of Stock-in-Trade |
10.000 |
0.000 |
0.000 |
|
|
|
Changes in Inventories of Finished Goods & Work-in-Progress |
(7.490) |
(41.639) |
(160.201) |
|
|
|
Employee Benefit Expense |
120.814 |
113.998 |
102.882 |
|
|
|
Other Expenses |
1242.639 |
1210.482 |
1283.146 |
|
|
|
Prior Period Income |
(0.360) |
(10.660) |
8.691 |
|
|
|
TOTAL (B) |
2894.599 |
2699.439 |
2754.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
634.644 |
561.262 |
562.030 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
293.483 |
328.602 |
315.335 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
341.161 |
232.660 |
246.695 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
130.259 |
122.302 |
113.436 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
210.902 |
110.358 |
133.259 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
79.686 |
37.017 |
48.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
131.216 |
73.341 |
85.212 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
441.427 |
368.086 |
282.874 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
572.643 |
441.427 |
368.086 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on FOB basis |
1183.751 |
1070.260 |
1172.642 |
|
|
TOTAL EARNINGS |
1183.751 |
1070.260 |
1172.642 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
773.745 |
1000.220 |
471.340 |
|
|
|
Packing Material |
14.265 |
30.284 |
22.008 |
|
|
|
Capital Goods |
0.000 |
0.755 |
1.317 |
|
|
TOTAL IMPORTS |
788.010 |
1031.259 |
494.665 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.73 |
2.90 |
3.90 |
|
QUARTERLY RESULTS
(Rs.
In Millions)
|
Particulars |
|
30.06.2014 (Unaudited) |
30.09.2014 (Unaudited) |
|
|
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
836.200 |
1107.000 |
|
Total Expenditure |
|
700.900 |
927.900 |
|
PBIDT (Excluding Other
Income) |
|
135.300 |
179.100 |
|
Other Income |
|
0.000 |
0.000 |
|
Operating Profit |
|
135.300 |
179.100 |
|
Interest |
|
67.600 |
79.600 |
|
Exceptional Items |
|
-00.600 |
00.200 |
|
PBDT |
|
67.100 |
99.800 |
|
Depreciation |
|
32.300 |
30.700 |
|
Profit Before Tax |
|
34.900 |
69.100 |
|
Tax |
|
12.500 |
29.200 |
|
Provisions and
contingencies |
|
0.000 |
0.000 |
|
Profit After Tax |
|
22.400 |
39.900 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
3.73 |
2.26 |
2.59 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
18.02 |
17.27 |
17.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.42 |
2.91 |
3.71 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.10 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.26 |
1.14 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00 |
0.70 |
0.73 |
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 |
594.460 |
594.460 |
594.460 |
|
Reserves & Surplus |
397.172 |
470.513 |
601.729 |
|
Net
worth |
991.632 |
1064.973 |
1196.189 |
|
|
|
|
|
|
long-term borrowings |
474.772 |
261.414 |
436.775 |
|
Short term borrowings |
750.133 |
955.194 |
1072.014 |
|
Total
borrowings |
1224.905 |
1216.608 |
1508.789 |
|
Debt/Equity
ratio |
1.235 |
1.142 |
1.261 |
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 |
3293.660 |
3249.892 |
3521.688 |
|
|
|
(1.329) |
8.363 |
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
|
3293.660 |
3249.892 |
3521.688 |
|
Profit |
85.212 |
73.341 |
131.216 |
|
|
2.59% |
2.26% |
3.73% |
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 |
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 |
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 |
31.03.2013 Rs.
In Millions |
|
Long Term
Borrowings |
|
|
|
Sales tax deferment |
1.337 |
11.067 |
|
Loans from directors |
124.699 |
49.549 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
From others |
|
|
|
Inter Corporate Deposits |
20.784 |
41.535 |
|
Others |
35.927 |
73.107 |
|
|
|
|
|
Total |
182.747 |
175.258 |
OPERATIONS:
The company
performance is on improving trend compared with the previous financial year. During
the year of operations, the company sales has increased by 8.3% whereas the
profitability increased by 78.91%. Though there is Rs.7.73 earnings per share
during the current year, the company could not declare dividend in view of
banker`s stipulations in order to increase the cash reserves.
FUTURE PLANS:
The company samples
are also approved in the North American market and expecting the improved
market share for our product in this region. Furthermore the company is
expecting government support to increase its domestic market share also by
extending better services and support to the customers and make suitability of
the product to their needs.
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER / HALF YEAR
ENDED 30TH SEPTEMBER 2014
(Rs.
In Millions)
|
Particulars |
3 Months Ended |
3 Months Ended |
Half Year Ended |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
UNAUDITED |
||
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
1095.572 |
829.738 |
1925.310 |
|
b) Other operating income |
11.428 |
6.442 |
17.870 |
|
Total
income from Operations(net) |
1107.000 |
836.180 |
1943.180 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
682.255 |
399.951 |
1082.206 |
|
b) Purchases of stock in trade |
0.000 |
0.000 |
0.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(97.537) |
64.275 |
(33.262) |
|
d) Employees benefit expenses |
35.593 |
33.565 |
69.158 |
|
e) Depreciation and amortization expenses |
30.669 |
32.266 |
62.935 |
|
f) Other expenditure |
307.573 |
203.094 |
510.667 |
|
Total expenses |
958.553 |
733.151 |
1691.704 |
|
3. Profit from operations before other income and
financial costs |
148.447 |
103.029 |
251.476 |
|
4. Other income |
-- |
-- |
-- |
|
5. Profit from ordinary activities before finance costs |
148.447 |
103.029 |
251.476 |
|
6. Finance costs |
79.598 |
67.597 |
147.195 |
|
7. Net profit/(loss) from ordinary
activities after finance costs but before exceptional items |
68.849 |
35.432 |
104.281 |
|
8. Exceptional
Items |
0.227 |
(0.562) |
(0.335) |
|
9. Profit from ordinary
activities before tax Expense: |
69.076 |
34.870 |
103.946 |
|
10.Tax expenses |
29.159 |
12.493 |
41.652 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
39.917 |
22.377 |
62.294 |
|
12.Extraordinary Items (net
of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for
the period (11 -12) |
39.917 |
22.377 |
62.294 |
|
14.Paid-up equity share capital (Nominal
value Rs.10/- per share) |
119.460 |
119.460 |
119.460 |
|
15. Reserve excluding
Revaluation Reserves as per balance sheet of previous accounting year |
-- |
-- |
-- |
|
16.i) Earnings per share (before
extraordinary items) of Rs.10/- each) (not annualised): |
|
|
|
|
(a) Basic and diluted |
2.50 |
1.03 |
3.54 |
|
|
|
|
|
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
2986514 |
2986514 |
2986514 |
|
- Percentage of shareholding |
25.00 |
25.00 |
25.00 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
5990687 |
5990687 |
5990687 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
66.86 |
66.86 |
66.86 |
|
Percentage of shares (as a % of total share capital of the
company) |
50.15 |
50.15 |
50.15 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
2968819 |
2968819 |
2968819 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
33.14 |
33.14 |
33.14 |
|
Percentage of shares (as a % of total share capital of the
company) |
24.85 |
24.85 |
24.85 |
|
|
|
|
|
|
|
|||
|
B.
Investor Complaints |
|
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
|
Receiving during the quarter |
Nil |
|
|
|
Disposed of during the quarter |
Nil |
|
|
|
Remaining unreserved at the end of the quarter |
Nil |
|
|
STANDALONE
STATEMENT OF ASSTES AND LIABILITIES AS ON 30.09.2014
Rs. In Millions
|
SOURCES
OF FUNDS |
30.09.2014 |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
594.460 |
|
(b) Reserves & Surplus |
664.024 |
|
(c) Money received against
share warrants |
0.000 |
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1258.484 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
281.271 |
|
(b) Deferred tax liabilities
(Net) |
489.455 |
|
(c) Other long term
liabilities |
438.000 |
|
(d) long-term provisions |
0.000 |
|
Total
Non-current Liabilities (3) |
1208.726 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
1268.849 |
|
(b) Trade payables |
529.839 |
|
(c) Other current liabilities |
358.125 |
|
(d) Short-term provisions |
71.947 |
|
Total
Current Liabilities (4) |
2228.760 |
|
|
|
|
TOTAL |
4695.970 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
2269.058 |
|
(b) Non-current Investments |
3.040 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
66.730 |
|
(e) Other Non-current assets |
0.072 |
|
Total
Non-Current Assets |
2338.900 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
0.000 |
|
(b) Inventories |
996.333 |
|
(c) Trade receivables |
824.685 |
|
(d) Cash and cash equivalents |
102.716 |
|
(e) Short-term loans and
advances |
391.007 |
|
(f) Other current assets |
42.329 |
|
Total
Current Assets |
2357.070 |
|
|
|
|
TOTAL |
4695.970 |
NOTES:
1.
Corresponding previous period figures
have been regrouped / reclassified wherever necessary.
2.
The auditors of the Company have carried
out the limited review of the above unaudited financial results in terms of
clause 41 of the listing agreement. The above results have been reviewed by the
Audit Committee and taken on record by the Board of Directors in their meeting
held on 14-11-14.
3.
EPS has been arrived, after making
provision for dividend on Preference Share Capital.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10538204 |
05/12/2014 |
432,500,000.00 |
ANDHRA BANK |
SPECIALIZED CORPORATE FINANCE BRANCH,THE BELVEDERE, 6-3-891 & 892, RAJ BHAVAN ROAD, SOMAJIGUDA, HYDERABAD, TELANGANA - 500082, INDIA |
C37809795 |
|
2 |
10538166 |
03/11/2014 |
850,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL
FINANACE BRANCH, TOPAZ BUILDING, AMRUT |
C37794682 |
|
3 |
10531562 |
22/09/2014 |
100,000,000.00 |
ANDHRA BANK |
SPECIALIZED CORPORATE FINANCE BRANCH, 6-3-648,, 3 RD FLOOR, PADMAJA LAND MARK, SOMAJIGUDA, HYDERABAD, TELANGANA - 500082, INDIA |
C33770819 |
|
4 |
10512602 |
04/08/2014 |
80,000,000.00 |
UNION BANK OF INDIA |
S.D. ROAD BRANCH, L.G., 1-2-163, BHUVANA TOWERS, SECUNDERABAD, SECUNDERABAD, TELANGANA - 500003, INDIA |
C14842611 |
|
5 |
10509856 |
02/07/2014 |
490,000,000.00 |
INDIAN OVERSEAS BANK |
1-2-61 & 62, PARKLANE, SECUNDERABAD, SECUNDERABAD, TELANGANA - 500003, INDIA |
C11919875 |
|
6 |
10489298 |
22/03/2014 |
2,220,107.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
C03643343 |
|
7 |
10490504 |
20/03/2014 |
50,000,000.00 |
ANDHRA BANK |
SPECIALISED CORPORATE FINANCE BRANCH, GROUND FLOOR, THE BELVEDERE, 6-3-891-, RAJ BHAVAN ROAD, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
C03869294 |
|
8 |
10475529 |
31/01/2014 |
5,900,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD, KOLKATA, WEST BENGAL - 700046, INDIA |
B95471041 |
|
9 |
10467713 |
30/11/2013 |
3,116,000.00 |
SREI EQUIPMENT FINANCE LIMITED |
'VISHWAKARMA', 86C, TOPSIA ROAD,, KOLKATA, WEST BENGAL - 700046, INDIA |
B92561224 |
|
10 |
10461638 |
07/11/2013 |
920,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL FINANACE BRANCH, TOPAZ BUILDING, AMRUTHA HILLS, PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B90110446 |
|
11 |
10437649 |
30/06/2013 |
7,300,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN,, 227, NARIMAN POINT,, MUMBAI, MAHARASHTRA - 400021, INDIA |
B79968939 |
|
12 |
10382102 |
30/08/2012 |
600,000,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA BRANCH, ROSE MADE, 6-3-542/2, POST BOX NO. 1562, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B60302825 |
|
13 |
10365151 |
03/11/2014 * |
1,860,000,000.00 |
STATE BANK OF HYDERABAD |
INDUSTRIAL
FINANACE BRANCH, TOPAZ BUILDING, AMRUT |
C37794153 |
|
14 |
10320635 |
12/11/2011 |
300,000,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA BRANCH, H.NO. 6-3-542/2, " ROSE MADE", PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
B26606327 |
|
15 |
10311309 |
31/01/2014 * |
95,500,000.00 |
UNION BANK OF INDIA |
S.D.
ROAD BRANCH, L.G-1, 1-2-163, BHUVANA TOWERS, SECUNDERABAD, HYDERABAD, ANDHRA
PRADESH - 500003, |
C00447086 |
|
16 |
10269887 |
05/03/2011 * |
2,595,100,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA
BRANCH, PUNJAGUTTA, HYDERABAD, ANDHRA |
B16385742 |
|
17 |
10231514 |
23/07/2010 |
50,000,000.00 |
INDIAN OVERSEAS BANK |
SECUNDERABAD BRANCH, 1-2-61 & 62, PARKLANE, SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA |
A90120692 |
|
18 |
10124443 |
31/01/2010 * |
400,000,000.00 |
UNION BANK OF INDIA |
LG - 1, BHUVANA TOWERS, SAROJINIDEVI RAOD, SECUNDERABAD, HYDERABAD, ANDHRA PRADESH - 500003, INDIA |
A78277118 |
|
19 |
10127929 |
20/08/2008 |
51,600,000.00 |
UNION BANK OF INDIA |
1-2-163, BHUVANA TOWERS, SAROJINI DEVI ROAD, SECUNDERABAD, HYDERABAD, ANDHRA PRADESH - 500003, INDIA |
A47463096 |
|
20 |
10087588 |
22/02/2008 |
1,200,000,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUATTA BRANCH, 6-3-542/2,, ROSE NAMDE, PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
A32461485 |
|
21 |
10062979 |
08/09/2009 * |
403,700,000.00 |
STATE BANK OF HYDERABAD |
6-3-448, ROSE MADE,, PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
A69048262 |
|
22 |
10004475 |
29/04/2006 |
396,300,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA BRANCH, ROSE MADE, 6-3-542/2,, POST BOX-1526, PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
A00663773 |
|
23 |
10005100 |
08/09/2009 * |
396,300,000.00 |
STATE BANK OF HYDERABAD |
6-3-448, ROSE MADE,, PUNJAGUTTA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
A69047819 |
|
24 |
90124801 |
19/02/2005 |
20,000,000.00 |
STATE BANK OF HYDERABAD |
PUNJAGUTTA BRANCH, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
25 |
90121272 |
11/06/1999 * |
100,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
5-9-89/1 & 2; CHAPEL ROAD, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
26 |
90124056 |
11/06/1999 * |
100,000,000.00 |
INDUSTRIAL DEVELOPMENT BANK OF INDIA |
5-9-89/1 & 2; CHAPEL ROAD, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
*Date of
modification Charges
FIXED ASSETS:
· Land
· Buildings
· Plant and Machinery
· Lab Equipments
· R and D Equipment
· Data Process Equipment
· Office Equipment
· Furniture and Fixtures
· Vehicles
· Computer Software
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 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.63.45 |
|
UK Pound |
1 |
Rs.95.99 |
|
Euro |
1 |
Rs.75.28 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
41 |
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.