MIRA INFORM REPORT
|
Report No. : |
303024 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME PETROCHEM LIMITED |
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|
|
|
Registered
Office : |
Solitaire Corporation Park, Building No.11, 5th Floor, Andheri
– Ghatkopar Link Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra |
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|
Country : |
India |
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Financials (as
on) : |
30.06.2014 |
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Date of
Incorporation : |
14.12.1989 |
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|
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Com. Reg. No.: |
11-054633 |
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Capital
Investment / Paid-up Capital : |
Rs.965.020
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L23200MH1989PLC054633 |
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|
IEC No.: |
Not Available |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS01358A |
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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
: |
Manufacturer of Polystyrene (PS), Expendable Polystyrene (EPS),
Specialty Polymers and Compounds and Extruded Polystyrene (XPS). |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having satisfactory track record. There is a dip in profit of the company in the year 2013-14. However,
overall financial position of the company is decent. Tarde relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company can be considered for business dealing at usual trade
terms and conditions. |
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 |
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 / Corporate Office : |
Solitaire Corporation Park, Building No.11, 5th Floor,
Andheri – Ghatkopar Link Road, Chakala, Andheri (East), Mumbai – 400 093,
Maharashtra, India |
|
Tel. No.: |
91-22-67091900 |
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Fax No.: |
91-22-40055681 |
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E-Mail : |
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|
Website : |
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Factory 1 : |
Amdoshi, Wakan Roha Road, Post: Patansai, Taluka Roha, District Raigad
– 402 106, Maharashtra, India |
|
Tel. No.: |
91-2194-222540-2548 |
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Fax No.: |
91-2194-222337/
2537/ 2617 |
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E-Mail : |
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Factory 2 : |
Ammulavoyil Village, Andarkuppam Post, Manali New Town, Chennai – 600
103, Tamilnadu, India |
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Branch Office : |
404, Raheja Chambers Nariman Point Mumbai - 400021,
Maharashtra, India |
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Marketing Office : |
Located At:
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DIRECTORS
As on 31.03.2014
|
Name : |
Mr. M. P. Taparia |
|
Designation : |
Chairman |
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|
Name : |
Mr. Rajan B. Raheja |
|
Designation : |
Director |
|
Address : |
Rahejas GB Jukar Road, Juhu, Mumbai – 400 049, Maharashtra, India |
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Date of Birth/Age : |
17.06.1954 |
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Date of Appointment : |
14.12.1989 |
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DIN No.: |
00037480 |
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Name : |
Mr. B. L. Taparia |
|
Designation : |
Director |
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|
Name : |
Mr. Satish Raheja |
|
Designation : |
Director (Upto May 27, 2014) |
|
Address : |
Case Postal 3153, 1211 |
|
Date of Birth/Age : |
49 Years |
|
Qualification : |
B. Sc. Business Management |
|
Experience : |
Is a Director of
various Companies. He is a Non-resident Indian and has experience in Business
Management. |
|
Date of Appointment : |
22.11.1993 |
|
DIN No.: |
00927801 |
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|
|
|
Name : |
Mr. S. J. Taparia |
|
Designation : |
Director |
|
Address : |
Giri Kunj, NS Road, 71, Marine Drive, Mumbai – 400 020, Maharashtra,
India |
|
Date of Birth/Age : |
67 Years |
|
Qualification : |
B. E. (Mechanical) |
|
Experience : |
Expertise and rich experience in technical, operational and marketing
aspects of industrial products. Actively involved in industry forum. |
|
Date of Appointment : |
22.11.1993 |
|
DIN No.: |
00112513 |
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|
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|
Name : |
Mr. Hasmukh Shah |
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Designation : |
Director |
|
Address : |
15, Dhanushya Society, Sama Road, Vadodara – 390 008, Gujarat, India |
|
Date of Birth/Age : |
79 Years |
|
Qualification : |
B. A. |
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Experience : |
Long experience in industry and is the Ex-Chairman of IPCL besides
being the Member of the Board of Directors of reputed Companies. |
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Date of Appointment : |
17.10.1994 |
|
DIN No.: |
00152195 |
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|
Name : |
Mr. M. S. Ramachandran |
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Designation : |
Director |
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Address : |
Q8, First Floor, Hauz Khas Enclave, |
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Date of Birth/Age : |
26.02.1945 |
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Date of Appointment : |
04.10.2007 |
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DIN No.: |
00943629 |
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|
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Name : |
Mr. R. Kannan |
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Designation : |
Director |
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Address : |
21, Parthasarathy Puram, North Usman Road, T Nagar, Chennai – 600 017,
Tamilnadu, India |
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Date of Birth/Age : |
23.09.1947 |
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Date of Appointment : |
06.10.2009 |
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DIN No.: |
00380328 |
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|
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|
Name : |
Mr. Nihalchand Chauhan |
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Designation : |
Director |
|
Address : |
Shripati Arcade, 20th Floor, Flat No. 4, August Kranti
Marg, Nana Chowk, Mumbai – 400 036, Maharashtra, India |
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Date of Birth/Age : |
20.11.1935 |
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Date of Appointment : |
27.04.2006 |
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DIN No.: |
00021782 |
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|
Name : |
Ms. Ameeta Parpia |
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Designation : |
Director |
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Date of Appointment : |
24.04.2013 |
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Date of Birth/Age : |
49 Years |
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Qualification : |
B.A., LLB. |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
58712000 |
60.84 |
|
|
58712000 |
60.84 |
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|
Total shareholding of Promoter and Promoter Group (A) |
58712000 |
60.84 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
55644 |
0.06 |
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|
41733 |
0.04 |
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|
119117 |
0.12 |
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|
216494 |
0.22 |
|
|
|
|
|
|
4699321 |
4.87 |
|
|
|
|
|
|
13830830 |
14.33 |
|
|
17584975 |
18.22 |
|
|
1458338 |
1.51 |
|
|
123489 |
0.13 |
|
|
1219960 |
1.26 |
|
|
98022 |
0.10 |
|
|
16867 |
0.02 |
|
|
37573464 |
38.94 |
|
Total Public shareholding (B) |
37789958 |
39.16 |
|
Total (A)+(B) |
96501958 |
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) |
96501958 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polystyrene (PS), Expendable Polystyrene (EPS),
Specialty Polymers and Compounds and Extruded Polystyrene (XPS). |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
v State Bank of
India, Corporate Account Group Branch, Neville House, J N Heredia Marg,
Mumbai – 400 001, Maharashtra, India v Axis Bank
Limited v Central Bank of
India v ICICI Bank
Limited v IDBI Bank
Limited v ING Vysya Bank
Limited v The Karur Vysya
Bank Limited v
The Hong Kong and Shanghai Banking Corporation
Limited |
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Facilities : |
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Auditors : |
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Name : |
G. M. Kapadia and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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|
|
Promoters : |
v
The Supreme Industries Limited v R. Raheja
Investments Private Limited |
CAPITAL STRUCTURE
As on 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
Rs.10/- each |
Rs. 1250.000 Millions |
|
25000000 |
Redeemable Cumulative Preference Shares |
Rs.10/- each |
Rs. 250.000 Millions |
|
|
|
|
|
|
|
TOTAL |
|
Rs. 1500.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
96501958 |
Equity Shares |
Rs.10/- each |
Rs.965.020
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
965.020 |
968.386 |
968.386 |
|
(b) Reserves & Surplus |
2677.704 |
2559.630 |
2114.638 |
|
(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) |
3642.724 |
3528.016 |
3083.024 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
93.000 |
320.945 |
940.857 |
|
(b) Deferred tax liabilities (Net) |
492.415 |
487.204 |
438.559 |
|
(c) Other long term
liabilities |
12.037 |
12.256 |
9.887 |
|
(d) long-term
provisions |
13.599 |
14.922 |
16.351 |
|
Total Non-current
Liabilities (3) |
611.051 |
835.327 |
1405.654 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
4907.273 |
4908.524 |
5039.559 |
|
(c) Other
current liabilities |
435.357 |
609.046 |
659.785 |
|
(d) Short-term
provisions |
239.343 |
403.274 |
258.502 |
|
Total Current
Liabilities (4) |
5581.973 |
5920.844 |
5957.846 |
|
|
|
|
|
|
TOTAL |
9835.748 |
10284.187 |
10446.524 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3690.594 |
3636.123 |
3424.894 |
|
(ii)
Intangible Assets |
22.279 |
21.785 |
23.671 |
|
(iii)
Capital work-in-progress |
39.874 |
314.319 |
555.251 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
81.713 |
82.169 |
115.166 |
|
(e) Other
Non-current assets |
110.481 |
50.328 |
61.071 |
|
Total Non-Current
Assets |
3944.941 |
4104.724 |
4180.053 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1792.597 |
2195.330 |
2634.592 |
|
(c) Trade
receivables |
3372.041 |
3265.956 |
2432.892 |
|
(d) Cash
and cash equivalents |
231.728 |
277.393 |
365.136 |
|
(e)
Short-term loans and advances |
457.212 |
383.096 |
794.857 |
|
(f) Other
current assets |
37.229 |
57.688 |
38.994 |
|
Total
Current Assets |
5890.807 |
6179.463 |
6266.471 |
|
|
|
|
|
|
TOTAL |
9835.748 |
10284.187 |
10446.524 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
32642.978 |
29671.590 |
22726.722 |
|
|
|
Other Income |
58.555 |
53.852 |
64.876 |
|
|
|
TOTAL |
32701.533 |
29725.442 |
22791.598 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
20926.832 |
17959.723 |
13982.635 |
|
|
|
Purchases of Stock-in-Trade |
8588.918 |
8298.978 |
6023.927 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
282.606 |
(59.727) |
207.524 |
|
|
|
Employees benefits expense |
282.705 |
239.984 |
218.01 |
|
|
|
Other expenses |
1664.758 |
1670.712 |
1332.569 |
|
|
|
TOTAL |
31745.819 |
28109.670 |
21764.665 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
955.714 |
1615.772 |
1026.933 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
228.439 |
238.815 |
319.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
727.275 |
1376.957 |
707.005 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
287.374 |
277.061 |
229.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
439.901 |
1099.896 |
477.771 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
134.002 |
371.663 |
164.024 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
305.899 |
728.233 |
313.747 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
409.001 |
364.009 |
457.826 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
150.000 |
400.000 |
250.000 |
|
|
|
Dividend |
144.753 |
242.097 |
135.574 |
|
|
|
Tax on Dividend |
24.601 |
41.144 |
21.990 |
|
|
BALANCE CARRIED
TO THE B/S |
395.546 |
409.001 |
364.009 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
7631.774 |
5398.835 |
4353.319 |
|
|
TOTAL EARNINGS |
7631.774 |
5398.835 |
4353.319 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw materials and Traded goods |
27518.837 |
23919.526 |
18398.960 |
|
|
|
Stores & Spares |
40.771 |
30.166 |
19.621 |
|
|
|
Capital Goods |
5.016 |
87.125 |
126.962 |
|
|
TOTAL IMPORTS |
27564.624 |
24036.817 |
18545.543 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.16 |
7.52 |
3.24 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2014 |
30.06.2013 |
30.06.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.94 |
2.45 |
1.38 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/ Sales) |
(%) |
2.93 |
5.45 |
4.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.49 |
11.03 |
4.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.31 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.09 |
0.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06 |
1.04 |
1.05 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
968.386 |
968.386 |
965.020 |
|
Reserves & Surplus |
2114.638 |
2559.630 |
2677.704 |
|
Net worth |
3083.024 |
3528.016 |
3642.724 |
|
|
|
|
|
|
long-term borrowings |
940.857 |
320.945 |
93.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total borrowings |
940.857 |
320.945 |
93.000 |
|
Debt/Equity ratio |
0.305 |
0.091 |
0.026 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
22726.722 |
29671.590 |
32642.978 |
|
|
|
30.558 |
10.014 |
NET PROFIT MARGIN
|
Net Profit Margin |
30.06.2012 |
30.06.2013 |
30.06.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Revenue from operations |
22726.722 |
29671.590 |
32642.978 |
|
Profit |
313.747 |
728.233 |
305.899 |
|
|
1.38% |
2.45% |
0.94% |
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 |
Yes |
|
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 |
No |
UNSECURED LOANS
|
PARTICULAR |
30.06.2014 (Rs.
In Millions) |
30.06.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed Deposits |
0.000 |
41.945 |
|
|
|
|
|
Total |
0.000 |
41.945 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
CHARGE HOLDER |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10463830 |
11/11/2013 |
400,000,000.00 |
ING VYSYA BANK
LIMITED |
185, ANNASALAI,
CHENNAI, TAMIL NADU - 600006, INDIA |
B90955121 |
|
2 |
10353936 |
30/10/2012 * |
338,700,000.00 |
THE KARUR VYSYA
BANK LIMITED |
KAMANWALA
CHAMBERS, SIR P.M. ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B62284401 |
|
3 |
10330666 |
29/03/2012 * |
600,000,000.00 |
STATE BANK OF
INDIA |
CAG BRANCH,
VOLTAS HOUSE, 23, J N HEREDIA MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001,
INDIA |
B39674890 |
|
4 |
10133430 |
03/11/2008 |
200,000,000.00 |
ING VYSYA BANK
LIMITED |
PATEL CHAMBERS
GROUND FLOOR, SANDHURST BRIDGE OPE |
A52331469 |
|
5 |
10096096 |
27/10/2008 * |
200,000,000.00 |
THE KARUR VYSYA
BANK LIMITED |
POST BOX NO.21,,
ERODE ROAD, KARUR, TAMIL NADU - |
A50150077 |
|
6 |
80022213 |
23/02/2006 |
200,000,000.00 |
UTI BANK LIMITED |
FORT, P M ROAD,
MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
7 |
80006091 |
28/11/2005 |
320,000,000.00 |
STATE BANK OF
INDIA |
NARIMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
8 |
90230060 |
09/06/2006 * |
493,080,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
- |
|
9 |
90230011 |
04/10/2004 |
120,000,000.00 |
UTI BANK LIMITED |
131; MAKER
TOWER; F; 13 TH FLOOR, CUFFE PARADE; COLOBA, MUMBAI, MAHARASHTRA - 400005,
INDIA |
- |
|
10 |
90283294 |
06/09/2005 * |
65,000,000.00 |
ANDHRA BANK |
MOUNT ROAD, 95;
ANNA SALAI, CHENNAI, TAMIL NADU - 600002, INDIA |
- |
|
11 |
90229949 |
06/04/2004 * |
200,000,000.00 |
THE KARUR VYSYA
BANK LIMITED |
KAMANWALA CHAMBERS,
SIR P.M. ROAD, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
12 |
90229944 |
10/03/2004 |
200,000,000.00 |
ING VYSYA BANK
LIMITED |
OPERA HOUSE,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
13 |
90229925 |
29/12/2003 |
300,000,000.00 |
ING VYSYA BANK
LIMITED |
PATEL CHEMBAER;
GROUND FLOOR, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400007,INDIA |
- |
|
14 |
90281583 |
27/08/2003 |
50,250,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE
BANKING BRANCH, TARAPORE TOWERS; ANNA SALAI, CALCUTTA, WEST BENGAL - 600002,
INDIA |
- |
|
15 |
90229891 |
21/11/2003 * |
200,000,000.00 |
THE KARUR VYSYA
BANK LIMITED |
KAMANWALA
CHAMBERS, FORT BRANCH, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
16 |
90229855 |
21/03/2003 |
150,000,000.00 |
ICICI LIMITED |
FREE PRESS
HOUSE, 215 NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
17 |
90229798 |
04/09/2002 |
100,000,000.00 |
INDUSIND BANK
LIMITED |
HOECHST HOUSE; 3RD
FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
18 |
90229673 |
17/04/2001 |
276,500,000.00 |
VYSYA BANK
LIMITED |
OPERA HOUSE
BRNACH, OPERA HOUSE, MUMBAI, MAHARASHTRA - 400007, INDIA |
- |
|
19 |
90229630 |
16/12/2000 |
368,700,000.00 |
BANK OF INDIA |
244-A; MITTAL
COURT, A; WING ; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,INDIA |
- |
|
20 |
90229616 |
20/10/2000 |
540,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIZL BRANCH,
JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
21 |
90229608 |
18/12/2000 * |
367,500,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRNACH, M.G. ROAD; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
22 |
90229606 |
22/09/2000 |
472,000,000.00 |
CORPORATION BANK |
INDUSTRIAL
FINANCE BRANCH; BHARAT HOUSE', GROUND FLOOR; B.S. MARG, MUMBAI, MAHARASHTRA -
400001, INDIA |
- |
|
23 |
90229599 |
20/06/2001 * |
200,000,000.00 |
IDBI BANK
LIMITED |
224; A- MITTAL
COURT, A; WING; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
24 |
90229597 |
03/01/2001 * |
75,000,000.00 |
SICOM LIMITED |
NIRMAL 1ST
FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA - 40001, INDIA |
- |
|
25 |
90229567 |
11/04/2000 |
100,000,000.00 |
UCO BANK |
BALDOTA BHAVAN;
QUEEN'S ROAD BRNACH, MAHARASHI KARVE ROAD, MUMBAI, MAHARASHTRA - 400020,
INDIA |
- |
|
26 |
90229535 |
01/03/2001 * |
126,750,000.00 |
STATE BANK OF
INDORE |
NANABHAI LANE, FORT,
MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
27 |
90229530 |
07/04/2000 * |
390,000,000.00 |
ICICI LIMITED |
FREE PRESS
HOUSE, 215; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
28 |
90232526 |
25/11/1999 |
1,486,500,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
29 |
90229517 |
01/03/2001 * |
110,000,000.00 |
BOMBAY
MERCANTILE CO-OP; BANK LIMITED |
CORPORATE FINANCE
OFFICE, P.D. MELLO ROAD, MUMBAI, MAHARASHTRA - 400009, INDIA |
- |
|
30 |
90229508 |
03/01/2001 * |
150,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER,
COLOBA, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
31 |
90229497 |
21/12/1999 * |
100,000,000.00 |
CENTRAL BANK OF
INDIA |
M.G. ROAD, FORT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
32 |
90229476 |
08/07/1999 |
241,500,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRNACH, M.G. ROAD; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
33 |
90229460 |
06/05/1999 |
150,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER,
COLOBA, MUMBAI, MAHARASHTRA - 40005, INDIA |
- |
|
34 |
90229457 |
09/04/1999 |
100,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE FINANCE
BRNACH, M.G. ROAD; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
35 |
90229429 |
20/10/1999 * |
123,500,000.00 |
IDBI BANK
LIMITED |
224; A- MITTAL
COURT, A; WING; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
36 |
90229416 |
29/12/1998 |
67,000,000.00 |
STATE BANK OF
INDORE |
INDUSTRIAL
FINANCE BRNACH; 10; NAHABHAI LANE, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
37 |
80022212 |
10/01/2006 * |
4,100,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
38 |
90229410 |
30/10/2012 * |
7,650,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE
ACCOUNT GROUP BRANCH, NEVILLE HOUSE, 23, J N HEREDIA MARG, MUMBAI,
MAHARASHTRA - 400001, INDIA |
B62165162 |
|
39 |
90229363 |
20/06/2001 * |
190,000,000.00 |
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH;. BARODA HOUSE, C.P. ST
REET FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
40 |
90232506 |
23/01/1998 |
1,075,000,000.00 |
ING BANK NV |
7TH FLOOR;
HOECHSTR HOUSE, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
41 |
90229292 |
19/02/1999 * |
100,000,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
42 |
90229261 |
23/01/1998 * |
45,000,000.00 |
IDBI BANK LTD. |
IDBI TOWER,
COLOBA, MUMBAI, MAHARASHTRA - 400005,
INDIA |
- |
|
43 |
90229251 |
08/04/1996 * |
100,000,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
44 |
90229055 |
23/01/1998 * |
90,000,000.00 |
IDBI BANK LTD. |
IDBI TOWER,
COLOBA, MUMBAI, MAHARASHTRA - 400005,
INDIA |
- |
|
45 |
90229043 |
23/03/2005 * |
870,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRNACH,
JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
46 |
90242072 |
14/09/2012 * |
7,650,000,000.00 |
STATE BANK OF
INDIA |
CORPORATE
ACCOUNT GROUP BRANCH, NEVILLE HOUSE, 23, J N HEREDIA MARG, MUMBAI,
MAHARASHTRA - 400001, |
B60547056 |
|
47 |
90228993 |
06/09/1996 * |
160,000,000.00 |
CORPORATION BANK |
INDUSTRIAL
FINANCE BRANCH; BHARAT HOUSE', GROUND FLOOR; B.S. MARG, MUMBAI, MAHARASHTRA -
400001, INDIA |
- |
|
48 |
90228955 |
14/11/1995 * |
50,000,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 400020, INDIA |
- |
|
49 |
90228882 |
26/07/2001 * |
525,600,000.00 |
ICICI LIMITED |
163; BACKBAY
RECLAMATION, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
50 |
90228871 |
24/10/1998 * |
168,000,000.00 |
CORPORATION BANK |
INDUSTRIAL
FINANCE BRNACH; BHARAT HOUSE;, GROUND FLOOR; B.S. MARG, BOMBAY, MAHARASHTRA -
400001, INDIA |
- |
|
51 |
90228846 |
14/11/1995 * |
50,000,000.00 |
BANK OF BARODA |
INDUSTRIAL
FINANCE BRANCH, BARODA HOUSE; C.P. STREET, MUBAI, MAHARASHTRA - 400001, INDIA |
- |
|
52 |
90281797 |
10/10/1994 * |
2,000,000.00 |
INDUSTRIAL
RECONSTRUCTION BANK OF INDIA |
19; NETHAJI
SUBASH ROAD, CALCUTTA, WEST BENGAL - 700007, INDA |
- |
|
53 |
90281790 |
10/10/1994 * |
6,500,000.00 |
INDUSTRIAL
DEVELOPMENT BANK OF INDIA |
IDBI TOWER;
CUFFE PARADE, COLABA, BOMBAY, TAMIL NADU - 400005, INDIA |
- |
|
54 |
90281761 |
27/08/2003 * |
47,000,000.00 |
BANK OF INDIA |
CHENNAI CORPORATE
BANKING BRANCH, TARAPORE TOWERS; ANNA SALAI, CALCUTTA, WEST BENGAL - 600002,
INDIA |
- |
|
55 |
90228265 |
05/09/2001 * |
870,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRNACH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
* Date of charge modification
REVIEW OF OPERATIONS
The markets for the Company`s products continued to be weak in the year
due to high inflation, wild fluctuations in rupee value, lower growth in
industrial production, low consumer confidence and poor offtake of consumer
durables. The domestic Polystyrene (PS) and Expandable Polystyrene (EPS)
markets declined by 9.5% and 5.2% respectively during the year.
The traditional export markets continued to be affected due to uncertain
economic and political situation in these markets. The Company could increase
its exports of PS and EPS by changing the focus to other markets/ customers.
The Speciality Polymers and Compounds (SPC) business recorded a marginal
increase of 4.6% in volume whereas the Extruded Polystyrene Insulation Board
(XPS) business has shown healthy growth over the previous year.
Despite the weak economic conditions in both domestic and international
markets the Company could maintain its volumes with a marginal decline of 0.8%
during the year. With the installation of stable Government at centre,
continued excise duty relief to the consumer durables market, increased
disposable income in the hands of consumers and improvement in consumer
confidence it is expected that the sales volume of the Company`s products will
be better in 2014-15 as compared to the year.
FIXED ASSETS
- Land
(Freehold)
- Buildings
- Plant and
Machinery
- Office
Equipment’s
- Computers
- Air
conditioners
- Vehicles
- Furniture and
Fixtures
- Computer
Software
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED ON
30TH
SEPTEMBER, 2014
(Rs. in millions)
|
|
|
Particulars |
1st
Quarter Ended |
|
|
|
|
30.09.2014 Unaudited |
|
1 |
Income from Operations |
|
|
|
|
a) Net Sales/Income from Operations (net of excise duty) |
6942.344 |
|
|
|
b) Other Operating Income |
42.679 |
|
|
|
Total Income from Operations (Net) |
6985.023 |
|
|
2 |
Expenses |
|
|
|
|
a) |
Cost of Materials consumed |
4332.691 |
|
|
b) |
Purchase of stock in-trade |
2155.769 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(216.256) |
|
|
d) |
Employee benefit expenses |
63.168 |
|
|
e) |
Depreciation and amortization expense |
53.364 |
|
|
f) |
Other
expenses |
382.808 |
|
|
Total Expenses |
6771.544 |
|
|
3 |
|
Profit
/(Loss) from operations before other income, finance costs and exceptional
items (1-2) |
213.479 |
|
4 |
Other
Income |
5.003 |
|
|
5 |
|
Profit /(Loss)
from ordinary activities before finance costs and exceptional items (3+4) |
218.482 |
|
6 |
Finance
Costs |
59.013 |
|
|
7 |
|
Profit
/(Loss) from ordinary activities after finance costs but before exceptional
items (5-6) |
159.469 |
|
8 |
Exceptional
Items |
-- |
|
|
9 |
Profit /(Loss) from ordinary activities
before tax |
159.469 |
|
|
10 |
Tax
Expense |
52.039 |
|
|
11 |
Net Profit /(Loss) from ordinary activities
after tax (9-10) |
107.430 |
|
|
12 |
Extraordinary
items (net of tax expense) |
-- |
|
|
13 |
Net Profit /(Loss) for the period (11-12) |
107.430 |
|
|
14 |
Paid up
equity share capital (Eq. shares of
Rs.10/- each) |
965.020 |
|
|
15 |
Reserve
excluding revaluation reserves |
-- |
|
|
16 |
|
Earnings per
share (before/after extraordinary items) of
Rs.10/- each |
|
|
|
|
Basic |
1.11 |
|
|
|
Diluted |
1.11 |
|
|
|
Cash EPS before Extraordinary Items |
1.67 |
|
|
|||
|
A |
|
PARTICULARS
OF SHAREHOLDING |
|
|
1 |
|
Public Shareholding |
|
|
|
|
- No. of
Shares |
37789958 |
|
|
|
-
Percentage of Shareholding |
39.16% |
|
2 |
|
Promoters and promoter group shareholding |
|
|
|
|
a) Pledged/Encumbered |
|
|
|
|
- Number
of shares |
-- |
|
|
|
- Percentage
of shares ( as a % of the total shareholding of the promoter and promoter
group) |
-- |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
-- |
|
|
|
b) Non-
encumbered |
|
|
|
|
- Number
of shares |
58712000 |
|
|
|
-
Percentage of shares ( as a % of the total shareholding of the promoter and
promoter group) |
100.00 |
|
|
|
-
Percentage of shares (as a % of the total share capital of the Company) |
60.84% |
|
|
Particulars |
1st
Quarter ended 30.09.2014 |
|
|
B |
|
Investor
Complaints |
|
|
|
|
Pending at
the beginning of the quarter |
Nil |
|
|
|
Received
during the quarter |
12 |
|
|
|
Disposed
during the quarter |
12 |
|
|
|
Remaining
unresolved at the end of the quarter |
Nil |
NOTE:
- Styrenics is the primary business segment of the Company. The secondary segment (Geographical) is as under:
|
Particulars |
1st Quarter ended on 30.09.2014 Unaudited |
|
|
|
|
(a) Net Sales/Income from Operations: |
5786.845 |
|
Within India |
1198.178 |
|
Outside India |
6985.023 |
|
|
|
|
(b) All the Assets of the Company are within India except these Debtors |
351.115 |
|
|
|
- As per the requirement of
the provisions of Schedule II of the Companies Act, 2013 (the
"Act") the Management has decided to adopt the useful lives as
suggested in Part C of Schedule II of the Act with effect from 1st July,
2014 for all its fixed assets. Accordingly depreciation for the quarter is
decreased by Rs.1980.700 millions. In accordance with the
transitional provisions under note 7(b) to Part C of Schedule II of the
Act, the Company has opted to adjust an amount of
286.59
lacs (net of deferred tax of Rs.14.757 millions) in the retained
earnings, pertaining to assets whose balance useful life was NIL as at 1st
July, 2014.
- The Company has
bought back 336655 Equity Shares since the opening of the current Buy Back
Scheme.
- Figures of the
previous year/quarter are regrouped wherever necessary.
- The above results have been reviewed by the Audit Committee, approved by the Board of Directors in the meeting held on October 16, 2014 and subjected to limited review by the statutory auditors.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.94.10 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KLS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
47 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.