MIRA INFORM REPORT

 

 

Report No. :

304518

Report Date :

21.01.2015

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT FOILS LIMITED

 

 

Registered Office :

3436-3449, Chhatral GIDC, Phase – IV, Taluka Kalol, District, Gandhinagar - 382729, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

16.11.1992

 

 

Com. Reg. No.:

04-018570

 

 

Capital Investment / Paid-up Capital :

Rs. 332.018 Millions

 

 

CIN No.:

[Company Identification No.]

L28999GJ1992PLC018570

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMG00263E

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Manufacturer of Aluminium Sheet, Foils (Bare, Coated or Laminated and Printed), Strips, Containers for Food, Pharmaceuticals and Packaging Applications.

 

 

No. of Employees :

468 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (48)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is an established company having satisfactory track record.

 

The rating reflects company’s healthy operational risk profile marked by sound liquidity position and fair profitability levels of the company.

 

Trade relations are fair. Business is active. Payment terms are reported to be usually 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.

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

CARE

Rating

Long Term Bank Facilities: BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk

Date

19.03.2014

 

 

Rating Agency Name

CARE

Rating

Short Term Bank Facilities: A3

Rating Explanation

Moderate degree of safety and high credit risk.

Date

19.03.2014

 

 

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. Karthik

Designation :

Export Import Executive

Contact No.:

91-9033947139

Date :

20.01.2015

 

 

LOCATIONS

 

Registered Office/ Factory :

Plot No.3436-3449, Chhatral, G.I.D.C., Phase – IV, Taluka-Kalol, District – Gandhinagar – 382729, Gujarat, India

Tel. No.:

91-2712-233656/ 233657

Mobile No.:

91-9033947139 (Mr. Karthik Mudaliyar)

Fax No.:

91-2712-233657/ 58

E-Mail :

info@gujaratfoils.com

divyang_oza@gujaratfoils.com

richa.gole@topworthgroup.com

jigna@gujaratfoils.com

secretarial@topworthgroup.com

karthik.mudaliyar@gujaratfoils.com

Website :

http://www.gujaratfoils.com

Location :

Owned

 

 

Corporate Office :

106, 16th Floor Indiabulls Finance Center Tower -3, Senapati Bapat Marg, Elphistione Road (West), Mumbai – 400013, Maharashtra, India 

 

 

Sales and other Enquiries/  Ahmedabad Office :

309, “Akashrath”, Opposite National Handloom corporation, Off C. G. Road, Law Garden, Ahmedabad – 380006, Gujarat, India

Tel. No.:

91-79-40073727

Fax No.:

91-79-40073728

 

 

DIRECTORS

 

AS ON 31.03.2014

 

Name :

Mr. Abhay Lodha

Designation :

Executive, Chairman and Managing Director

Address :

603, Vaitarna, Sir Pochkhanwala Road, Worli Seaface, Worli, Mumbai – 400030, Maharashtra, India

Date of Birth / Age :

01.06.1971

Date of Appointment :

14.07.2008

 

 

Name :

Mr. Satish Chander Gupta

Designation :

Non-Executive, Independent Director

Address :

A – 1/135, Inder Puri, New Delhi – 110012, India

Date of Birth / Age :

05.05.1947

Date of Appointment :

31.01.2009

 

 

Name :

Mr. Prasenjit P. Datta

Designation :

Executive, Whole Time Director

 

 

Name :

Mr. Kanchan Murarka

Designation :

Non-Executive, Non-Independent Director

Date of Birth / Age :

06.01.1966

Qualification :

C.A., C.S., ICWA, B.Com

Date of Appointment :

16.05.2011

 

 

Name :

Mr. Surender Kumar Tuteja

Designation :

Non-Executive, Independent Director

Date of Birth / Age :

15.06.1945

Qualification :

I.A.S., M.COM., F.C.S.

Date of Appointment :

11.04.2012

 

 

Name :

Mr. Rahul B. Chhajed

Designation :

Non-Executive, Independent Director

Date of Birth / Age :

08.01.1972

Qualification :

B.Com

Date of Appointment :

10.07.2012

 

 

Name :

Mr. Viresh Mathur

Designation :

Non-Executive, Independent Director

Date of Birth / Age :

09.04.1946

Qualification :

M.A., Fiscal Studies (Diploma) from University of Bath (U.K.)

Date of Appointment :

14.08.2012

 

 

Name :

Mr. Sanjiv Goel

Designation :

Non-Executive, Non-Independent Director

Date of Birth / Age :

27.02.1958

Qualification :

B. Tech

Date of Appointment :

14.08.2012

 

 

KEY EXECUTIVES

 

Name :

Mr. Amit Kumar Gupta

Designation :

Company Secretary and Compliance Officer

 

 

Name :

Mr. Karthik Mudaliyar

Designation :

Manager

 

 

SHAREHOLDING PATTERN

 

AS ON 30.09.2014

 

Category of Shareholder

No. of Shares

% of Holdings

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

4041201

49.27

http://www.bseindia.com/include/images/clear.gifBodies Corporate

792876

9.67

http://www.bseindia.com/include/images/clear.gifSub Total

4834077

58.94

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

4834077

58.94

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

490699

5.98

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 1 lakh

1261111

15.38

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 1 lakh

1496459

18.25

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

119464

1.46

http://www.bseindia.com/include/images/clear.gifClearing Members

102258

1.25

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

17206

0.21

http://www.bseindia.com/include/images/clear.gifSub Total

3367733

41.06

Total Public shareholding (B)

3367733

41.06

Total (A)+(B)

8201810

100.00

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

0

0.00

http://www.bseindia.com/include/images/clear.gifSub Total

0

0.00

Total (A)+(B)+(C)

8201810

100.00

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Promoter and Promoter Group

 

Sl.No.

Name of the Shareholder

Details of Shares held

No. of Shares held

As a % of grand total (A)+(B)+(C)

1

Akshata Realtors Pvt Ltd

7,92,876

9.67

2

Abhay Narendra Lodha

30,47,104

37.15

3

Ashwin Narendra Lodha

7,03,959

8.58

4

Sheela Abhay Lodha

94,388

1.15

5

Prasanna Champalal Lodha

65,224

0.80

6

Surendra Champalal Lodha

65,263

0.80

7

Rajesh Kumar Jain

65,263

0.80

 

Total

48,34,077

58.94

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons belonging to the category Public and holding more than 1% of the total number of shares

 

Sl. No.

Name of the Shareholder

No. of Shares held

Shares as % of Total No. of Shares

1

Parmod Jain

827813

10.09

2

Asuti Trading Pvt Ltd

99500

1.21

3

Atul Dinkerray Raval

91300

1.11

 

Total

1018613

12.42

 

 

Shareholding of securities (including shares, warrants, convertible securities) of persons (together with PAC) belonging to the category “Public” and holding more than 5% of the total number of shares of the company

 

Sl. No.

Name(s) of the shareholder(s) and the Persons Acting in Concert (PAC) with them

No. of Shares

Shares as % of Total No. of Shares

1

Parmod Jain

827813

10.09

 

Total

827813

10.09

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Aluminium Sheet, Foils (Bare, Coated or Laminated and Printed), Strips, Containers for Food, Pharmaceuticals and Packaging Applications.

 

 

Products :

ITC Code No.

 

Product Description

76071991

Aluminium Foil / Sheet / Strip

76061200

Aluminium Coil / Sheet / Strip

76069290

Aluminium Foil / Sheet / Strip

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :
  • Dubai
  • Pakistan

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

L/C and Cheque 

 

 

Purchasing :

L/C and Cheque 

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Experience :

Not Divulged

Maximum Limit Dealt :

Not Divulged

 

 

Customers :

Retailers

 

·         LUPIN

·         Sun Pharmaceutical Industries Limited

·         AUROBINDO

·         Cadila Pharmaceuticals Limited

·         MAXHEAL

·         Ayrton Drug

·         ISEAL

·         HITACHI

·         Positive Packaging

 

 

No. of Employees :

468 (Approximately)

 

 

Bankers :

·         State Bank of India

Backbay Reclamation Branch, Raheja Chambers, Free Press Journal Marg, Nariman Point, Mumbai-400021, Maharashtra, India

 

·         Allahabad Bank

Industrial Finance Branch, Parliament Street, New Delhi, India

 

·         Oriental Bank of Commerce

Mumbai Overseas Branch, Nariman Point, Mumbai, Maharashtra, India

 

·         Dena Bank

Corporate Business Branch, Bandra-Kurla Complex, Bandra – East, Mumbai, Maharashtra, India

 

·         Union Bank of India

·         Bank of India

·         IDBI Bank

 

 

Facilities :

Secured Loan

As on 31.03.2014

[Rs. in Millions]

As on 31.03.2013

[Rs. in Millions]

Long Term Borrowings

 

 

Term Loans

-From Banks

296.821

267.697

Other loans and advances

(Secured By Hypothecation of Motor Vehicle)

0.391

0.587

 

 

 

Short Term Borrowings

 

 

Loans repayable on demand

-From banks

1053.393

1039.350

 

 

 

Total

 

1350.605

1307.634

 

NOTE:

 

LONG  TERM BORROWINGS

 

(A) Term loans from State Bank of India and Dena Bank have been secured by first mortgage / equitable mortgage on pari-passu basis on the Land, Building, Plant and Machinery and other fixed assets of the Company, situated on plot no. 3436 to 3439 and 3442 to 3446 at Chattral Industrial Area of GIDC, Phase IV, Tal: Kalol, Dist. Gandhinagar, Gujarat and second pari-passu charge on all the Current Assets of the Company (excluding Current Assets relating to Aluminium Pharma Foil Project and Wind Mill).

 

(B) Term loan from Bank of India for Aluminium Pharma Foil Project has been secured by mortgage / equitable mortgage on exclusive basis on the Land, Building, Plant and Machinery and other fixed assets of the Company, situated on plot no. 3440 and 3441 at Chattral Industrial Area of GIDC, Phase IV, Tal: Kalol, Dist. Gandhinagar, Gujarat.

(C) Corporate Loan from State Bank of India(pending creation) is secured by first pari-passu charge with other Term Lenders on entire Fixed Assets of the Company excluding Wind Mill project, Pharma Division project & Vehicles and extension of second pari-passu charge on the entire Current Asset of the Company.

(D) Car loans have been secured by hypothecation of respective cars.

 

 

SHORT TERM BORROWINGS

 

(A) Working Capital Facilities availed by the Company from the Consortium Lenders (excluding Working Capital limits availed from Bank of India for Aluminium Pharma Foil Project) are secured by way of first pari-passu hypothecation charge on all the Stocks, Receivable, Book Debts and other Current Assets of the Company and second pari-passu charge on the entire Fixed Assets (excluding Aluminium Pharma Foil Project and Wind Mill project) of the Company.

(B) Working Capital Facilities availed by the Company for its Aluminium Pharma Foil division from Bank of India are secured by  way of exclusive hypothecation charge on all the Stocks, Receivable, Book Debts and other Current Assets of the Aluminium Pharma Foil Project of the Company and also secured by mortgage / equitable mortgage on exclusive basis on the Land, Building, Plant and Machinery and other fixed assets of the Company situated on plot no 3440 and 3441 at Chattral Industrial Area of GIDC, Phase IV, Tal: Kalol, Dist. Gandhinagar, Gujarat.

 

 

 

Auditors :

 

Name :

H. R. Agarwal and Associates

Chartered Accountants

Address :

219-C, Old China Bazar Street, 1st Floor, Room No. B-6, Kolkata, West Bengal, India

Tel. No.:

91-33-2248-6561 / 30226561

Fax No.:

91-33-22303207

E-Mail :

gk.sons@hotmail.com

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Associates/Subsidiaries :

Not Available

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

50000000

Equity Shares

Rs. 10/- each

Rs. 500.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

82,01,810

Equity Shares

Rs. 10/- each

Rs. 82.018 Millions

2,50,00,000

10% Non convertible Non Cumulative Reedemables Preference shares

Rs. 10/- each

Rs. 250.000 Millions

 

 

 

 

 

Total

 

Rs. 332.018 Millions

 

 

(A) Reconciliation of the number of shares outstanding at the beginning and at the end of the reporting period

 

Particulars

2013-14

No. of Shares

Shares outstanding at the beginning of the year

8201810

Shares outstanding at the end of the year

8201810

 

 

(B) Reconciliation of the number of Preference shares outstanding at the beginning and at the end of the reporting period

 

Particulars

2013-14

No. of Shares

Shares outstanding at the beginning of the year

--

Shares issued/ (bought back) during the year

25000000

Shares outstanding at the end of the year

25000000

 

 

 

(C) Shares in the Company held by each shareholder holding more than 5% shares in the Company

 

Name of Shareholder

2013-14

 

 

No. of Shares

% of Holding

Abhay Narendra Lodha

3047104

37.15

Parmod Jain

1260204

15.36

Akshata Realtors Private Limited

792876

9.67

Rockdude Financial Services Private Limited

718013

8.75

Ashwin Narendra Lodha

703959

8.58

 

 

(D) Preference Shares in the Company held by each shareholder holding more than 5 percent shares

 

Name of Shareholders

2013-14

No. of shares held

% of holdings

Abhay Narendra Lodha

20000000

80%

Ashwin Narendra Lodha

500000

20%

 

 

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

332.018

82.018

82.018

(b) Reserves & Surplus

609.503

267.444

207.080

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

0.000

433.900

433.900

Total Shareholders’ Funds (1) + (2)

941.521

783.362

722.998

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

655.338

626.410

724.538

(b) Deferred tax liabilities (Net)

75.331

67.711

62.889

(c) Other long term liabilities

452.597

153.592

99.065

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

1183.266

847.713

886.492

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1053.393

1039.350

1030.780

(b) Trade payables

863.463

635.313

239.562

(c) Other current liabilities

131.541

100.179

98.801

(d) Short-term provisions

2.534

1.010

1.858

Total Current Liabilities (4)

2050.931

1775.852

1371.001

 

 

 

 

TOTAL

4175.718

3406.927

2980.491

 

 

 

 

II.            ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1444.066

1044.796

1145.403

(ii) Intangible Assets

0.000

0.000

0.000

(iii) Capital work-in-progress

0.000

80.126

80.072

(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

0.000

0.000

0.000

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

1444.066

1124.922

1225.475

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1532.718

1072.154

783.912

(c) Trade receivables

1052.028

1064.453

861.773

(d) Cash and cash equivalents

110.739

87.578

31.061

(e) Short-term loans and advances

0.000

0.000

0.000

(f) Other current assets

36.167

57.820

78.270

Total Current Assets

2731.652

2282.005

1755.016

 

 

 

 

TOTAL

4175.718

3406.927

2980.491

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

 

Revenue from Operations

4299.215

3443.319

2612.273

 

 

Other Income

0.000

0.000

0.000

 

 

TOTAL                                     (A)

4299.215

3443.319

2612.273

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of materials consumed

3771.820

2832.368

2191.703

 

 

Changes in inventories of finished goods work-in-progress and Stock-in-Trade

(306.775)

(120.105)

(153.418)

 

 

Employee benefits expenses

111.068

81.547

33.432

 

 

Other expenses

222.082

225.734

177.890

 

 

TOTAL                                     (B)

3798.195

3019.545

2249.607

 

 

 

 

 

Less

PROFIT / (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)     (C)

501.020

423.774

362.666

 

 

 

 

 

Less

FINANCIAL EXPENSES                                    (D)

260.904

230.900

209.495

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

240.116

192.874

153.171

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

111.437

111.201

97.793

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX (E-F)               (G)

128.679

81.673

55.378

 

 

 

 

 

Less

TAX                                                                  (H)

36.620

21.308

32.164

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX (G-H)                  (I)

92.059

60.365

23.214

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

169.550

109.185

85.971

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

261.609

169.550

109.185

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

Export Earnings

NA

69.290

87.655

 

TOTAL EARNINGS

NA

69.290

87.655

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

118.220

287.488

 

 

Capital Goods

NA

 

13.147

 

TOTAL IMPORTS

NA

118.220

300.635

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

11.22

7.36

2.83

 

 

Note:

 

1. The above financial results have been reviewed by the Audit Committee and approved and taken on record by the Board of Directors in their respective meetings held on May 19, 2014. The Statutory auditors have Audited the above results.

 

2. The Company operates only in single segment i.e., "Aluminium". There are no separate reportable segment as per Accounting Standard on "Segment Reporting (AS-17)".

 

3. On March 28, 2014 the Company has issued and allotted 2,50,00,000 fully paid up 10% Non-convertible Non-Cumulative Redeemable Preference Shares of Rs. 10/- each (at a premium of Rs. 10/per share), aggregating Rs 500.000 Millions to Promoters. The proceeds from this issue were fully utilised, for the purpose of working capital and for capital expenditure of the Company.

 

4. The figures of the quarter ended on March 31, 2014 are the balancing figures between audited figures in respect of the full financial year ended as on March 31, 2014 and the published year to date figures upto the third quarter ended December 31, 2013 of the financial year.

 

4. The figures of the quarter ended on March 31, 2014 are the balancing figures between audited figures in respect of the full financial year ended as on March 31, 2014 and the published year to date figures upto the third quarter ended December 31, 2013 of the financial year.

 

5. Figures for previous periods/year have been regrouped/reclassified/recast wherever necessary.

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

 

Net Profit Margin

PAT / Sales

(%)
2.15

17.53

0.88

 

 
 

 

 

Operating Profit Margin

(PBDIT/Sales)

(%)
6.07

12.31

13.88

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.08
2.46

1.91

 

 

 
 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.14
0.10

0.08

 

 

 
 

 

Debt Equity Ratio

(Total Debt/Networth)

 

1.81
2.13

2.43

 

 

 
 

 

Current Ratio

(Current Asset/Current Liability)

 

1.33
1.29

1.28

 

 

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

82.018

82.018

332.018

Reserves & Surplus

207.080

267.444

609.503

Share Application money pending allotment

433.900

433.900

0.000

Net worth

722.998

783.362

941.521

 

 

 

 

long-term borrowings

724.538

626.410

655.338

Short term borrowings

1030.780

1039.350

1053.393

Total borrowings

1755.318

1665.760

1708.731

Debt/Equity ratio

2.428

2.126

1.815

 

 

 

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

2612.273

3443.319

4299.215

 

 

31.813

24.857

 

 

 

 

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

2612.273

3443.319

4299.215

Profit

23.214

60.365

92.059

 

0.89%

1.75%

2.14%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

CURRENT MATURITIES OF LONG-TERM DEBT

Rs. In Millions

Particular

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

Current maturities of long-term debt

NA

79.805

75.417

 

 

 

 

 

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

Yes

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

No

17]

Major suppliers

No

18]

Major customers

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

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]

PAN of Proprietor/Partner/Director, if available

No

32]

Date of Birth of Proprietor/Partner/Director, if available

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

Yes

 

 

 

HIGH COURT OF GUJARAT

 

 

TAX APPEAL No. 916 of 2008

 

Status : PENDING

( Converted from : ST/1025/2008 )

CCIN No : 001092200800916

 

 

Last Listing Date:

18/02/2015

Coram

·         HONOURABLE MR. JUSTICE JAYANT PATEL

·         HONOURABLE MR.JUSTICE S.H. VORA

 

S.NO.

Name of the Petitioner

Advocate On Record

1

THE COMMISSIONER OF INCOME TAX-II

MRS MAUNA M BHATT for: Appellant(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

 

S.NO.

Name of the Respondant

Advocate On Record

1

GUJARAT FOILS LIMITED

RULES NOT RECD BACK for :Opponent (s) 1
RULES UNSERVED for : Opponent (s) 1

 

 

Presented On

: 24/03/2008

Registered On

: 24/03/2008

Bench Category

: DIVISION BENCH

District

: AHMEDABAD

Case Originated From

: THROUGH ADVOCATE

Listed

: 303 times

Stage Name

: FOR FINAL HEARING - TAX MATTERS

Classification
  • DB – OJ – TAX APPEAL TAX ACT, 1961 – APPEAL TO HIGH COURT – U/S 260 OF IT ACT – LONG TERM CAPITAL GAIN – U/S 54EA

 

 

Act
  • INCOME-TAX ACT, 1961

 

 

Other Forums

Detention Details

 

 

OFFICE DETAILS

 

S. No.

Filing Date

Document Name

Advocate Name

Court Fee on Document

Document Details

1

15/08/2008

VAKALATNAMA

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

MRS MAUNA M BHATT:1

2

15/08/2008

DOCUMENT

RULE UNSERVED
for RESPONDENT(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

RULE UNSERVED:1

3

01/12/2008

APPEARANCE NOTE

MRS MAUNA M BHATT ADVOCATE
for PETITIONER(s) http://gujarathc-casestatus.nic.in/gujarathc/images/arrow1.png1

-

MRS MAUNA M BHATT:1

 

 

INDEX OF CHARGES

 

S.

No.

Charge ID

Date of Charge Creation/

Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10395459

11/12/2012

140,000,000.00

ALLAHABAD BANK

INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, 37, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

B65311078

2

10312834

24/09/2011

50,000,000.00

DENA BANK

CORPORATE BUSINESS BRANCH, C-10, G-BLOCK, BANDRA
KURLA COMPLEX, BANDRA (E), MUMBAI, MAHARASHTRA -
400051, INDIA

B23446248

3

10299386

30/07/2011

70,000,000.00

IDBI BANK LIMITED

INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA

B17757527

4

10254397

08/07/2013 *

1,750,000,000.00

ALLAHABAD BANK

INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, 37, MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA

B83723361

5

10250353

15/02/2012 *

366,000,000.00

BANK OF INDIA

AHMEDABAD MID CORP BR FIRST FLOOR, BOI BUILDING, NR SWASTIK CROSS RD, C. G. ROAD, NAVRANGPURA, AHME
DABAD, GUJARAT - 380009, INDIA

B34644328

6

10230714

31/01/2012 *

366,000,000.00

BANK OF INDIA

AHMEDABAD MID CORP BR FIRST FLOOR, BOI BUILDING,
NR SWASTIK CROSS RD, C. G. ROAD, NAVRANGPURA, AHME
DABAD, GUJARAT - 380009, INDIA

B34643882

7

10219776

20/11/2010 *

240,000,000.00

IDBI Bank Limited

INDIAN RED CROSS SOCIETY BUILDING, 1, RED CROSS ROAD, NEW DELHI, DELHI - 110001, INDIA

A99507683

8

10217745

16/02/2013 *

310,000,000.00

UNION BANK OF INDIA

YASHWANT BHAWAN, PANDURANG BHUDKAR MARG,, LOWER PAREL, MUMBAI, MAHARASHTRA -400013, INDIA

B70392048

9

10184139

01/06/2011 *

195,000,000.00

STATE BANK OF INDIA

BACKBAY RECLAMATION BRANCH,, RAHEJA CHAMBERS, NAR
IMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

B14537443

10

10164111

31/07/2009 *

100,000,000.00

DENA BANK

CORPORATE BUSINESS BRANH, C-10, G-BLOCK, BANDRA KURLA COMPLEX, BANDRA (E),, MUMBAI, MAHARASHTRA - 400051, INDIA

A68311125

11

10145782

31/07/2009 *

150,000,000.00

STATE BANK OF INDIA

BACKBAY RECLAMATION BRANCH, RAHEJA CHAMBERS,, FRE
E PRESS JOURNAL MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA

A67831362

12

10145771

31/07/2009 *

220,000,000.00

DENA BANK

CORPORATE BUSINESS BRANCH, GROUND FLOOR,, C-10, G BLOCK, BANDR-KURLA COMPLEX, BANDRA (E),, MUMBAI,
MAHARASHTRA - 400051, INDIA

A68191444

 

* Date of charge modification

 

 

UNSECURED LOANS

 

Particulars

As on 31.03.2014

[Rs. in Millions]

As on 31.03.2013

[Rs. in Millions]

Long Term Borrowings

 

 

Other loans and advances

 

 

Other than Bank

358.126

358.126

 

 

 

Total

 

358.126

358.126

NOTE:

 

a) Unsecured Loans other than bank are free of Interest

 

 

 

 

FIXED ASSETS

 

  • Land
  • Buildings
  • Plant and Equipments
  • Furniture and Fixture
  • Vehicles
  • Office Equipments
  • Computers

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. 61.85

UK Pound

1

Rs. 93.26

Euro

1

Rs. 71.57

 

 

INFORMATION DETAILS

 

Information Gathered by :

DIP

 

 

Analysis Done by :

KAR

 

 

Report Prepared by :

JYO

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

5

--LIQUIDITY

1~10

5

--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

YES

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

YES

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

48

 

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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.