MIRA INFORM REPORT
|
Report No. : |
302908 |
|
Report Date : |
12.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
MODERN STEEL LIMITED |
|
|
|
|
Registered
Office : |
G T Road, Mandi Gobindgarh – 147301, Punjab |
|
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|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
19.11.1973 |
|
|
|
|
Com. Reg. No.: |
16-003358 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 132.300 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27109PB1973PLC003358 |
|
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|
|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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|
Line of Business
: |
Manufacturing Critical Grades of Alloy Steels for the relatively
stable two-wheeler Industry. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 a moderate track record. The company has incurred a loss from its corporations 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 |
CRISIL |
|
Rating |
Long term rating = B |
|
Rating Explanation |
Have high risk of default |
|
Date |
April 03, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
April 03, 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. Raj |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-172-2609001 |
LOCATIONS
|
Registered Office/ Factory : |
G.T. Road, Mandi Gobindgarh - 147301, Punjab, India |
|
Tel. No.: |
91-1765-257991/92/93 |
|
Fax No.: |
91-1765-257994/95 |
|
E-Mail : |
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|
|
|
|
Corporate Office : |
Sco No. 98-99, Sub City Centre Sector -34-A, Chandigarh, India |
|
Tel. No.: |
91-172-2609001/02/03 |
|
Fax No.: |
91-172-2609000 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Amarjit Goyal |
|
Designation : |
Chairman and Whole Time Director |
|
|
|
|
Name : |
Mr. Krishan Kumar Goyal |
|
Designation : |
Managing Director and Chief Executive Officer |
|
|
|
|
Name : |
Prof. Triloki Nath Kapoor |
|
Designation : |
Director |
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|
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|
Name : |
Mr. D. S. Gill |
|
Designation : |
Director |
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|
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|
Name : |
Mr. Ramesh C. Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Aditya Goyal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. P. L. Talwar |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Sharma |
|
Designation : |
GM (Secretarial) and Company Secretary |
|
|
|
|
Name : |
Mr. Raj |
|
Designation : |
Finance Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2014
|
Category of Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
6885859 |
50.03 |
|
|
2133077 |
15.50 |
|
|
9018936 |
65.53 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
9018936 |
65.53 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
6000 |
0.04 |
|
|
1000 |
0.01 |
|
|
7000 |
0.05 |
|
|
|
|
|
|
334444 |
2.43 |
|
|
|
|
|
|
2546929 |
18.51 |
|
|
1813192 |
13.18 |
|
|
41858 |
0.30 |
|
|
41858 |
0.30 |
|
|
4736423 |
34.42 |
|
Total Public
shareholding (B) |
4743423 |
34.47 |
|
Total (A)+(B) |
13762359 |
100.00 |
|
(C) Shares held
by Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
13762359 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Critical Grades of Alloy Steels for the relatively
stable two-wheeler Industry. |
|
|
|
|
Products : |
Not Available |
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|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Available |
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Purchasing : |
Not Available |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
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Auditors : |
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|
Name : |
A. Goel and Associates Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
Modern Automotives Limited |
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Related Party : |
|
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : 132.300
Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24900000 |
Equity Shares |
Rs.10/- each |
Rs. 249.000 Millions |
|
10000 |
9.5% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs. 1.000 Millions |
|
|
Total |
|
Rs. 250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12592359 |
Equity Shares |
Rs.10/- each |
Rs. 125.924
Millions |
|
|
Forfeited Shares |
|
Rs. 0.100
Million |
|
|
Forfeited Warrants |
|
Rs. 6.400
Millions |
|
|
Total |
|
Rs. 132.424 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 |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
132.300 |
132.300 |
132.300 |
|
(b) Reserves & Surplus |
103.200 |
209.900 |
347.100 |
|
(c) Money received against
share warrants |
106.800 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
342.300 |
342.200 |
479.400 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
914.000 |
642.100 |
170.000 |
|
(b) Deferred tax liabilities (Net) |
0.400 |
0.000 |
8.500 |
|
(c) Other long term
liabilities |
0.000 |
0.300 |
0.300 |
|
(d) long-term
provisions |
16.700 |
19.200 |
19.300 |
|
Total Non-current
Liabilities (3) |
931.100 |
661.600 |
198.100 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
671.100 |
488.500 |
893.300 |
|
(b) Trade payables |
294.200 |
286.800 |
295.100 |
|
(c) Other current
liabilities |
85.100 |
45.000 |
120.400 |
|
(d) Short-term
provisions |
6.700 |
5.000 |
3.800 |
|
Total Current
Liabilities (4) |
1057.100 |
825.300 |
1312.600 |
|
|
|
|
|
|
TOTAL |
2330.500 |
1829.100 |
1990.100 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
724.800 |
527.500 |
501.900 |
|
(ii) Intangible Assets |
0.000 |
2.200 |
4.300 |
|
(iii) Capital
work-in-progress |
0.000 |
13.100 |
36.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
70.300 |
70.300 |
70.300 |
|
(c) Deferred tax
assets (net) |
104.100 |
55.000 |
0.000 |
|
(d) Long-term Loan and Advances |
92.700 |
58.200 |
63.200 |
|
(e) Other
Non-current assets |
18.000 |
6.300 |
6.100 |
|
Total Non-Current
Assets |
1009.900 |
732.600 |
681.800 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
548.500 |
406.100 |
481.400 |
|
(c) Trade receivables |
630.100 |
531.100 |
689.800 |
|
(d) Cash and cash
equivalents |
83.900 |
51.700 |
47.000 |
|
(e) Short-term loans
and advances |
53.100 |
52.400 |
86.500 |
|
(f) Other current
assets |
5.000 |
55.200 |
3.600 |
|
Total Current Assets |
1320.600 |
1096.500 |
1308.300 |
|
|
|
|
|
|
TOTAL |
2330.500 |
1829.100 |
1990.100 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2631.400 |
2613.600 |
3379.600 |
|
|
|
Other Income |
36.200 |
46.100 |
34.100 |
|
|
|
TOTAL (A) |
2667.600 |
2659.700 |
3413.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1669.000 |
1692.900 |
2195.100 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(50.000) |
78.200 |
70.100 |
|
|
|
Employees benefits expense |
133.400 |
126.500 |
134.900 |
|
|
|
Other expenses |
826.000 |
748.700 |
918.700 |
|
|
|
Prior period items |
0.000 |
(0.400) |
1.200 |
|
|
|
TOTAL (B) |
2578.400 |
2645.900 |
3320.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
89.200 |
13.800 |
93.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
198.300 |
167.700 |
192.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(109.100) |
(153.900) |
(98.600) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
46.700 |
46.800 |
44.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(155.800) |
(200.700) |
(142.700) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(49.100) |
(63.500) |
(44.600) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(106.700) |
(137.200) |
(98.100) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
576.709 |
456.523 |
|
|
|
Stores & Spares |
NA |
37.212 |
35.870 |
|
|
TOTAL IMPORTS |
NA |
613.921 |
492.393 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(8.47) |
(10.90) |
(7.79) |
|
QUARTERLY
RESULTS
(Rs.
In Millions)
|
Particulars |
30.06.2014 |
30.09.2014 |
|
Audited /
UnAudited |
UnAudited 1st
Quarter |
UnAudited 2nd
Quarter |
|
Net Sales |
754.600 |
837.900 |
|
Total Expenditure |
730.700 |
835.400 |
|
PBIDT (Excl OI) |
23.900 |
2.500 |
|
Other Income |
9.300 |
11.800 |
|
Operating Profit |
33.200 |
14.300 |
|
Interest |
52.900 |
62.700 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
(19.700) |
(48.400) |
|
Depreciation |
11.500 |
14.900 |
|
Profit Before Tax |
(31.200) |
(63.300) |
|
Tax |
(9.800) |
(20.000) |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
(21.400) |
(43.300) |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
(21.400) |
(43.300) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
(4.05)
|
(5.25) |
(2.90) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.39
|
0.53 |
2.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.23) |
(11.87) |
(7.58) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46) |
(0.59) |
(0.30) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.63 |
3.30 |
2.22 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25 |
1.33 |
1.00 |
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 |
132.300 |
132.300 |
132.300 |
|
Reserves & Surplus |
347.100 |
209.900 |
103.200 |
|
Money received against
share warrants |
0.000 |
0.000 |
106.800 |
|
Net worth |
479.400 |
342.200 |
342.300 |
|
|
|
|
|
|
long-term borrowings |
170.000 |
642.100 |
914.000 |
|
Short term borrowings |
893.300 |
488.500 |
671.100 |
|
Total borrowings |
1063.300 |
1130.600 |
1585.100 |
|
Debt/Equity ratio |
2.218 |
3.304 |
4.631 |
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 |
3379.600 |
2613.600 |
2631.400 |
|
|
|
(22.665) |
0.681 |
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 |
3379.600 |
2613.600 |
2631.400 |
|
Profit |
(98.100) |
(137.200) |
(106.700) |
|
|
(2.90)% |
(5.25)% |
(4.05)% |
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 |
Yes |
|
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 |
No |
|
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 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10447444 |
25/07/2013 |
746,000,000.00 |
STATE BANK OF INDIA |
MANDI GOBINDGARH, MANDI GOBINDGARH, Punjab - 147301, INDIA |
B84230705 |
|
2 |
10422569 |
30/03/2013 |
12,600,000.00 |
State Bank of Patiala |
Commercial Branch,
SCO 103 - 107,, Sector 8 C,, C |
B73982118 |
|
3 |
10422229 |
30/03/2013 |
25,200,000.00 |
PUNJAB NATIONAL BANK |
MANDI GOBINDGARH, MANDI GOBINDGARH, Punjab - 147301, INDIA |
B73887127 |
|
4 |
10423782 |
30/03/2013 |
45,900,000.00 |
State Bank of Patiala |
Commercial Branch,
SCO 103 - 107,, Sector 8 C,, C |
B74446675 |
|
5 |
10422572 |
30/03/2013 |
80,000,000.00 |
State Bank of Patiala |
Commercial Branch,
SCO 103 - 107,, Sector 8 C,, C |
B73983306 |
|
6 |
10422381 |
30/03/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
MANDI GOBINDGARH, MANDI GOBINDGARH, Punjab - 147301, INDIA |
B73888786 |
|
7 |
10422444 |
30/03/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
MANDI GOBINDGARH, MANDI GOBINDGARH, Punjab - 147301, INDIA |
B73888117 |
|
8 |
10422520 |
30/03/2013 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
MANDI GOBINDGARH, MANDI GOBINDGARH, Punjab - 147301, INDIA |
B73968919 |
|
9 |
10422927 |
30/03/2013 |
191,100,000.00 |
CANARA BANK |
SCO 311-312,, SECTOR 35 B,, CHANDIGARH, Chandigarh - 160035, INDIA |
B74122433 |
|
10 |
10256496 |
18/11/2010 |
100,000,000.00 |
STATE BANK OF INDIA |
MANDI GOBINDGARH, MANDI GOBINDGARH, Punjab - 147301, INDIA |
B01924802 |
* Date of charge modification
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
From Related Parties |
41.800 |
|
From Others |
2.300 |
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
Buyer's Credit |
108.800 |
|
|
|
|
Total |
152.900 |
FIXED ASSETS
- Land
- Buildings
- Plant & Machinery
- Office Equipment
- Furniture
- Vehicles
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 30TH DECEMBER 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended |
Year Ended |
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
|
|
Audited |
Unaudited |
Unaudited |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
835.000 |
751.900 |
1586.900 |
|
b) Other operating income |
2.900 |
2.700 |
5.600 |
|
Total
income from Operations(net) |
837.900 |
754.600 |
1592.500 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
537.600 |
503.500 |
1041.100 |
|
b) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(30.400) |
(21.500) |
(51.900) |
|
c) Employees benefit expenses |
35.800 |
34.900 |
70.700 |
|
d) Depreciation and amortization expenses |
14.900 |
11.500 |
26.400 |
|
e) Other expenditure |
292.400 |
213.800 |
506.200 |
|
Total expenses |
850.300 |
742.200 |
1592.500 |
|
3.
Profit from operations before other income and financial costs |
(12.400) |
12.400 |
-- |
|
4. Other income |
11.800 |
9.300 |
21.100 |
|
5.
Profit from ordinary activities before finance costs |
(0.600) |
21.700 |
21.100 |
|
6. Finance costs |
62.700 |
52.900 |
115.600 |
|
7. Net profit/(loss) from
ordinary activities after finance costs but before exceptional items |
(63.300) |
(31.200) |
(94.500) |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary
activities before tax Expense: |
(63.300) |
(31.200) |
(94.500) |
|
10.Tax
expenses |
|
|
|
|
-- Current Income Tax |
-- |
-- |
-- |
|
-- Minimum Alternative Tax Credit Entitlement |
(20.000) |
(9.800) |
(29.800) |
|
-- Taxation for Earlier |
-- |
-- |
-- |
|
-- Deferred Tax |
-- |
-- |
-- |
|
11.Net Profit / (Loss) from ordinary activities
after tax (9-10) |
(43.300) |
(21.400) |
(64.700) |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for
the period (11 -12) |
(43.300) |
(21.400) |
(64.700) |
|
14.Paid-up equity share capital (Nominal value Rs.10/- per share) |
144.000 |
144.000 |
144.000 |
|
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): |
(3.15) |
(1.55) |
(4.70) |
|
Particulars |
Quarter Ended ( Unaudited) |
Year Ended ( Unaudited) |
|
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
4743423 |
4743423 |
4743423 |
|
- Percentage of shareholding |
34% |
34% |
34% |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
7848936 |
7847936 |
7848936 |
|
Percentage of shares (as a % of total shareholding of the promoter
and promoter group) |
87% |
87% |
87% |
|
Percentage of shares (as a % of total share capital of the
company) |
57% |
57% |
57% |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
1170000 |
1170000 |
1170000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
13% |
13% |
13% |
|
Percentage of shares (as a % of total share capital of the
company) |
9% |
9% |
9% |
|
PARTICULARS |
For the quarter ended 30.09.2014 |
|
B INVESTORS
COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
5 |
|
Disposed during the quarter |
5 |
|
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 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. 62.40 |
|
|
1 |
Rs. 94.17 |
|
Euro |
1 |
Rs. 73.61 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--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 |
|
26 |
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.