MIRA
INFORM REPORT
|
Report No. : |
304611 |
|
Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
RATNAMANI METALS AND TUBES LIMITED |
|
|
|
|
Registered
Office : |
17, Rajmugat Society, Naranpura Char Rasta, Ankur Road, Naranpura, Ahmedabad
– 380013, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
15.09.1983 |
|
|
|
|
Com. Reg. No.: |
04-006460 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 93.367 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L70109GJ1983PLC006460 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR01519A |
|
|
|
|
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, Exporter and Importer of Stainless Steel
Pipes and Tubes and Carbon Steel Pipes. |
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|
|
|
No. of Employees
: |
1600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (68) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
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|
|
|
Payment Behaviour : |
Regular |
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|
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Litigation : |
Exist |
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Comments : |
Subject is an
established company having fine track record. Overall financial
position of the company appears to be strong and healthy. Directors are
reported to be experienced and respectable businessmen. Rating also reflect
the company leadership position in the stainless steel tubes and pipe (SSTP)
segment. Trade relations
are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can
be considered normal for business dealings 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
AA (Long Term Rating) |
|
Rating Explanation |
High degree of safety and very low credit
risk. |
|
Date |
04.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1+ (Short Term Rating) |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
04.10.2013 |
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 PARTED BY
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Account Executive |
|
Contact No.: |
91-79-27415501 |
|
Date : |
21.01.2015 |
LOCATIONS
|
Registered/ Sales Office : |
17, Rajmugat Society, Naranpura Char Rasta, Ankur Road Naranpura,
Ahmedabad – 380013, Gujarat, India |
|
Tel. No.: |
91-79-27415501/ 2/ 3/ 4 |
|
Fax No.: |
91-79-27480999 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Mumbai Office : |
404-B
Sukh Sagar Building, N.S Patkar Marg, Chowpatty, Mumbai – 400007,
Maharashtra, India |
|
Tel. No.: |
91-22-43334555 |
|
Fax No.: |
91-22-43334575 |
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E-Mail : |
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|
|
|
|
Head Office / Factory 1: |
STAINLESS STEEL TUBES AND PIPES DIVISION Survey
No.769, Ahmedabad – Mehsana Highway, Village – Indrad, Near Chhatral GIDC,
Taluka – Kadi, District – Mehsana, Gujarat, India |
|
Tel. No.: |
91-2764-232254/ 232263/ 233766 |
|
Fax No.: |
91-2764-234105/ 233098 |
|
E-Mail : |
info.sstp@ratnamani.com |
|
Website : |
www.ratnamani.com |
|
|
|
|
Factory 2: |
SAW PIPE DIVISION Plot
No.3306-3309, GIDC; Chhatral, Taluka – Kalol, District – Mehsana, |
|
Tel. No.: |
91-2764-232234/
233919/ 232409 |
|
Fax No.: |
91-2764-233859 |
|
Email : |
|
|
|
|
|
Factory 3: |
Survey No.474, Village
– Bhimasar, Taluka – Anjar, District–Kutch, |
|
Tel. No.: |
91-2836-285538/
285539 |
|
Fax No.: |
91-2836-285540 |
|
Email : |
|
|
|
|
|
Branch Office
: |
44, C.P.
Tank Road, Mumbai – 400004, Maharashtra, India |
|
|
|
|
Ratnamani Techno Casts Limited (RTCL) : |
Plot No.3310, GIDC Estate Chhatral, Phase IV, Ahmedabad –
Mehsana Highway, P.O. Chhatral, Taluka Kalol, District Gandhinagar – 382729,
Gujarat, India |
|
Tel. No.: |
91-2764-233327/ 234488 |
|
Fax No.: |
91-2764-233165 |
|
E-Mail : |
|
|
|
|
|
Sales Office 2 :
|
404-B, Sukh Sagar
Building, N.S. Patkar Marg, Chowpatty, Mumbai – 400007, Maharashtra,
India |
|
|
|
|
Sales Office 3 :
|
516, Ansal
Chamber, II Bhikaji Cama Place, New Delhi – 110066, India |
|
|
|
|
Sales Office 4 : |
B-Wing, 2nd
Floor, 55-Gama Devi Road, Near Dharam Palace, Mumbai – 400007, Maharashtra,
India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Prakash M. Sanghvi |
|
Designation : |
Chairman and Managing Director |
|
Qualification : |
Matriculation |
|
Date of Appointment : |
12.06.1989 |
|
|
|
|
Name : |
Mr. Jayantilal M. Sanghvi |
|
Designation : |
Whole-Time Director |
|
Qualification : |
B.Com (FY) |
|
Date of Appointment : |
12.06.1989 |
|
|
|
|
Name : |
Mr. Shantilal M. Sanghvi |
|
Designation : |
Whole-Time Director |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
01.11.1998 |
|
|
|
|
Name : |
Mr. Divyabhash Chandrakant Anjaria |
|
Designation : |
Director |
|
Qualification : |
PGDM (Finance) from IIM, Ahmedabad |
|
|
|
|
Name : |
Dr. Vinodkumar Mahavirprasad Agrawal |
|
Designation : |
Director |
|
Qualification : |
MBBS |
|
Experience : |
Renowned doctor in practice since last 40 years |
|
|
|
|
Name : |
Mr.
Pravinchandra M. Mehta |
|
Designation : |
Director |
|
Qualification : |
B.E. (Mechanical) |
|
|
|
|
Name : |
Mrs. Nidhi Gadhecha |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. Vimal Katta |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Agarwal |
|
Designation : |
Account Executive |
|
|
|
|
Audit Committee: |
|
|
|
|
|
Nomination and Remuneration Committee: |
|
|
|
|
|
Investor Grievance Committee: |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
Percentage of
holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
27971990 |
59.92 |
|
|
27971990 |
59.92 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
27971990 |
59.92 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
62858 |
0.13 |
|
|
4368 |
0.01 |
|
|
6100869 |
13.07 |
|
|
6168095 |
13.21 |
|
|
|
|
|
|
1115323 |
2.39 |
|
|
|
|
|
|
3349828 |
7.18 |
|
|
7662487 |
16.41 |
|
|
415727 |
0.89 |
|
|
340610 |
0.73 |
|
|
61965 |
0.13 |
|
|
13152 |
0.03 |
|
|
12543365 |
26.87 |
|
Total Public shareholding (B) |
18711460 |
40.08 |
|
Total (A)+(B) |
46683450 |
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) |
46683450 |
0.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sl.No. |
Name of the
Shareholder |
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
No |
As a percentage |
As a % of |
|
1 |
Jayantilal Mishrimal Sanghvi |
19,02,855 |
4.08 |
0 |
0.00 |
0.00 |
|
2 |
Mishrimal N. Sanghvi |
16,93,000 |
3.63 |
0 |
0.00 |
0.00 |
|
3 |
Prakash Mishrimal Sanghvi |
13,99,000 |
3.00 |
0 |
0.00 |
0.00 |
|
4 |
Prakash M. Sanghvi |
12,83,259 |
2.75 |
0 |
0.00 |
0.00 |
|
5 |
Vimla Pavankumar Sanghvi |
11,52,415 |
2.47 |
0 |
0.00 |
0.00 |
|
6 |
Babulal M. Sanghvi |
11,09,330 |
2.38 |
0 |
0.00 |
0.00 |
|
7 |
Nilesh Prakash Sanghvi |
8,50,800 |
1.82 |
0 |
0.00 |
0.00 |
|
8 |
Shanti Sanghvi |
8,05,750 |
1.73 |
0 |
0.00 |
0.00 |
|
9 |
Vijay Chunilal Sanghvi |
7,70,000 |
1.65 |
0 |
0.00 |
0.00 |
|
10 |
Shantilal Mishrimal Sanghvi |
6,83,245 |
1.46 |
0 |
0.00 |
0.00 |
|
11 |
Arunaben C. Sanghvi |
6,25,205 |
1.34 |
0 |
0.00 |
0.00 |
|
12 |
Reshmidevi Prakash Sanghvi |
6,07,665 |
1.30 |
0 |
0.00 |
0.00 |
|
13 |
Talsiben Mishrimal Sanghvi |
5,92,245 |
1.27 |
0 |
0.00 |
0.00 |
|
14 |
Jayanti M. Sanghvi |
5,85,000 |
1.25 |
0 |
0.00 |
0.00 |
|
15 |
Prakash Mishrimal Sanghvi |
5,40,000 |
1.16 |
0 |
0.00 |
0.00 |
|
16 |
Shantaben Babulal Sanghvi |
5,26,665 |
1.13 |
0 |
0.00 |
0.00 |
|
17 |
Prashant Jayantilal Sanghvi |
5,16,910 |
1.11 |
0 |
0.00 |
0.00 |
|
18 |
Reshmidevi P. Sanghvi |
5,07,835 |
1.09 |
0 |
0.00 |
0.00 |
|
19 |
Babulal Mishrimal Sanghvi (Huf) |
5,05,495 |
1.08 |
0 |
0.00 |
0.00 |
|
20 |
Jigar Prakash Sanghvi |
5,04,415 |
1.08 |
0 |
0.00 |
0.00 |
|
21 |
Vijay C. Sanghvi |
4,92,875 |
1.06 |
0 |
0.00 |
0.00 |
|
22 |
Sanghvi Shantilal Mishrimal(Huf) |
4,62,165 |
0.99 |
0 |
0.00 |
0.00 |
|
23 |
Prakash Sanghvi |
4,50,106 |
0.96 |
0 |
0.00 |
0.00 |
|
24 |
Reshmidevi Sanghvi |
4,48,250 |
0.96 |
0 |
0.00 |
0.00 |
|
25 |
Jitendra B. Sanghvi |
4,47,160 |
0.96 |
0 |
0.00 |
0.00 |
|
26 |
Sanghvi Prakashmal Mishrimal(Huf) |
4,22,330 |
0.90 |
0 |
0.00 |
0.00 |
|
27 |
Jayantilal M Sanghvi (Huf) |
4,16,835 |
0.89 |
0 |
0.00 |
0.00 |
|
28 |
Sanghvi Chunilal Mishrimal (Huf) |
4,09,000 |
0.88 |
0 |
0.00 |
0.00 |
|
29 |
Manoj Prakash Sanghvi |
3,89,165 |
0.83 |
0 |
0.00 |
0.00 |
|
30 |
Chandra Vijay Sanghvi |
3,53,125 |
0.76 |
0 |
0.00 |
0.00 |
|
31 |
Chunilal M. Sanghvi |
3,43,010 |
0.73 |
0 |
0.00 |
0.00 |
|
32 |
Shobhnadevi Jayantilal Sanghvi |
3,41,665 |
0.73 |
0 |
0.00 |
0.00 |
|
33 |
Pavankumar Mishrimal Sanghvi |
3,13,600 |
0.67 |
313600 |
100.00 |
0.67 |
|
34 |
Manoj P. Sanghvi |
3,05,000 |
0.65 |
0 |
0.00 |
0.00 |
|
35 |
Shashiben Shantilal Sanghvi |
2,96,000 |
0.63 |
0 |
0.00 |
0.00 |
|
36 |
Shashi Shantilal Sanghvi |
2,92,250 |
0.63 |
0 |
0.00 |
0.00 |
|
37 |
Ravi Pavankumar Sanghvi |
2,55,415 |
0.55 |
0 |
0.00 |
0.00 |
|
38 |
Vimla Pavan Sanghvi |
2,50,000 |
0.54 |
0 |
0.00 |
0.00 |
|
39 |
Shashi Shantilal Sanghvi |
2,50,000 |
0.54 |
0 |
0.00 |
0.00 |
|
40 |
Manoj Prakash Sanghvi |
2,44,330 |
0.52 |
0 |
0.00 |
0.00 |
|
41 |
Mahendra C. Sanghvi |
2,29,080 |
0.49 |
0 |
0.00 |
0.00 |
|
42 |
Usha M. Sanghvi |
2,26,500 |
0.49 |
0 |
0.00 |
0.00 |
|
43 |
Ravi Pavan Sanghvi |
2,10,000 |
0.45 |
0 |
0.00 |
0.00 |
|
44 |
Jigar Prakash Sanghvi |
2,05,000 |
0.44 |
0 |
0.00 |
0.00 |
|
45 |
Jitendra B. Sanghvi |
1,85,000 |
0.40 |
0 |
0.00 |
0.00 |
|
46 |
Yash Shantilal Sanghvi |
1,80,000 |
0.39 |
0 |
0.00 |
0.00 |
|
47 |
Shantilal Mishrimal Sanghvi |
1,50,000 |
0.32 |
0 |
0.00 |
0.00 |
|
48 |
Pavan Sanghvi |
1,50,000 |
0.32 |
0 |
0.00 |
0.00 |
|
49 |
Pavankumar Mishrimal Sanghvi (Huf) |
1,31,250 |
0.28 |
0 |
0.00 |
0.00 |
|
50 |
Yash Shantilal Sanghvi |
1,30,000 |
0.28 |
0 |
0.00 |
0.00 |
|
51 |
Prashant J. Sanghvi |
1,25,000 |
0.27 |
0 |
0.00 |
0.00 |
|
52 |
Nilesh Prakash Sanghvi |
1,15,000 |
0.25 |
0 |
0.00 |
0.00 |
|
53 |
Ravi Pavan Sanghvi |
1,15,000 |
0.25 |
0 |
0.00 |
0.00 |
|
54 |
Dimple M. Sanghvi |
1,12,500 |
0.24 |
0 |
0.00 |
0.00 |
|
55 |
Pavan Mishrimal Sanghvi |
1,03,165 |
0.22 |
0 |
0.00 |
0.00 |
|
56 |
Dimple Manoj Sanghvi |
1,00,000 |
0.21 |
0 |
0.00 |
0.00 |
|
57 |
Sarika Prashant Sanghvi |
1,00,000 |
0.21 |
0 |
0.00 |
0.00 |
|
58 |
Shantilal Mishrimal Sanghvi |
98,000 |
0.21 |
0 |
0.00 |
0.00 |
|
59 |
Pavankumar M. Sanghvi |
86,400 |
0.19 |
86400 |
100.00 |
0.19 |
|
60 |
Latakumari Prakash Sanghvi |
85,125 |
0.18 |
0 |
0.00 |
0.00 |
|
61 |
Prashant Jayantilal Sanghvi |
85,000 |
0.18 |
0 |
0.00 |
0.00 |
|
62 |
Sarika P. Sanghvi |
75,000 |
0.16 |
0 |
0.00 |
0.00 |
|
63 |
Shobhnadevi J. Sanghvi |
70,000 |
0.15 |
0 |
0.00 |
0.00 |
|
64 |
Pinky Jitendra Sanghvi |
50,000 |
0.11 |
0 |
0.00 |
0.00 |
|
65 |
Prakashmal Mishrimal Sanghvi (Huf) |
50,000 |
0.11 |
0 |
0.00 |
0.00 |
|
66 |
Prashant J. Sanghvi |
49,830 |
0.11 |
0 |
0.00 |
0.00 |
|
67 |
Shital Jayantilal Sanghvi |
49,830 |
0.11 |
0 |
0.00 |
0.00 |
|
68 |
Vijay C. Sanghvi |
47,500 |
0.10 |
0 |
0.00 |
0.00 |
|
69 |
Jigar Prakash Sanghvi |
46,905 |
0.10 |
0 |
0.00 |
0.00 |
|
70 |
Mishrimal N. Sanghvi |
41,695 |
0.09 |
0 |
0.00 |
0.00 |
|
71 |
Jayantilal M Sanghvi (Huf) |
39,830 |
0.09 |
0 |
0.00 |
0.00 |
|
72 |
Usha M. Sanghvi |
33,330 |
0.07 |
0 |
0.00 |
0.00 |
|
73 |
Shobhnadevi Jayantilal Sanghvi |
29,750 |
0.06 |
0 |
0.00 |
0.00 |
|
74 |
Sheetal Nilesh Sanghvi & Nilesh P Sanghvi |
25,000 |
0.05 |
0 |
0.00 |
0.00 |
|
75 |
Rishabh M. Sanghvi |
25,000 |
0.05 |
0 |
0.00 |
0.00 |
|
76 |
Vimla Pavan Sanghvi |
21,665 |
0.05 |
0 |
0.00 |
0.00 |
|
77 |
Yash Sanghvi |
17,000 |
0.04 |
0 |
0.00 |
0.00 |
|
78 |
Jayantilal M. Sanghvi |
15,000 |
0.03 |
0 |
0.00 |
0.00 |
|
79 |
Arunaben Sanghvi |
5,000 |
0.01 |
0 |
0.00 |
0.00 |
|
80 |
Pavankumar M. Sanghvi |
5,000 |
0.01 |
0 |
0.00 |
0.00 |
|
81 |
Jayantilal M. Sanghvi |
3,580 |
0.01 |
0 |
0.00 |
0.00 |
|
82 |
Chunilal M. Sanghvi |
3,000 |
0.01 |
0 |
0.00 |
0.00 |
|
83 |
Shantaben Babulal Sanghvi |
2,250 |
0.00 |
0 |
0.00 |
0.00 |
|
84 |
Vijay C. Sanghvi |
435 |
0.00 |
0 |
0.00 |
0.00 |
|
|
Total |
2,79,71,990 |
59.92 |
400000 |
1.43 |
0.86 |
(*) The term encumbrance has the same meaning as assigned to it in regulation 28(3) of the SAST Regulations, 2011.
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 |
Nalanda India Fund Limited |
3906664 |
8.37 |
|
|
2 |
Pukhraj H. Bhansali |
1500000 |
3.21 |
|
|
3 |
Champalal Bachraj Bhansali |
1500000 |
3.21 |
|
|
4 |
Nalanda India Equity Fund Limited |
1461644 |
3.13 |
|
|
5 |
Darshana R. Shah |
862441 |
1.85 |
|
|
|
Total |
9230749 |
19.77 |
|
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 |
Nalanda India Fund Limited |
3906664 |
8.37 |
|
|
2 |
Nalanda India Equity Fund Limited.(PAC) |
1461644 |
3.13 |
|
|
|
Total |
5368308 |
11.50 |
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BUSINESS DETAILS
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Line of Business
: |
Manufacturer, Exporter and Importer of Stainless Steel
Pipes and Tubes and Carbon Steel Pipes. |
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Products : |
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Brand Name: |
Not Divulged |
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Agencies Held: |
Not Divulged |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C / Credit |
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Purchasing : |
L/C / Credit |
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PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1600 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name 1 : |
Mehta Lodha and Company Chartered Accountants |
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Address : |
63, Hirabhai Market, Diwan Ballubhai Road, Ahmedabad – 380022,
Gujarat, India |
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Name 2 : |
S.R. Batliboi and Associates Chartered Accountants |
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Cost Auditors : |
N.D. Birla and Company Cost Accountants |
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Enterprises owned or significantly influenced by key management
personnel or their relatives : |
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CAPITAL STRUCTURE
AFTER 11.09.2014
Authorised Capital : Rs.150.000
millions
Issued, Subscribed & Paid-up Capital : Rs. 93.456
Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
75000000 |
Equity Shares |
Rs.2/- each |
Rs.150.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
46683450 |
Equity Shares |
Rs.2/- each |
Rs.93.367 millions |
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Reconciliation of the
Equity Shares outstanding at the beginning and at the end of the reporting
period
(Rs. in millions)
|
Particular |
31.03.2014 |
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At the beginning of the year |
92.831 |
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Add: Issued during the year- ESOS |
0.536 |
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Outstanding at
the end of the year |
93.367 |
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At the beginning of the year |
46415609 |
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Add: Shares issued on exercise of Employee Stock Options |
267841 |
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Equity Shares at
the end of the year |
46683450 |
Terms/Rights
attached to Equity Shares
– The Company has
only one class of Equity Shares having a par value of Rs.2/- per share. Each
holder of Equity Shares is entitled to one vote per share. The Company declares
and pays dividend in Indian Rupees. The dividend proposed by the Board of
Directors is subject to approval of the Shareholders at the ensuing Annual
General Meeting. In the event of liquidation of the Company, the holders of
Equity Shares will be entitled to receive remaining assets of the Company,
after distribution of all preferential amounts. The distribution will be in
proportion to the number of Equity Shares held by Share holders.
Details of
Shareholders holding more than 5% Equity Shares in the Company
|
Name of the
Shareholder |
No.
of Shares |
%
held |
|
Nalanda India Equity Fund Limited |
3906664 |
8.37% |
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Prakash M. Sanghvi |
3672365 |
7.87% |
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Jayanti M. Sanghvi |
2506435 |
5.37% |
Shares Reserved
for issue under option
The Company reserved
issuance of 2250000 Equity Shares of Rs.2/- each for offering to eligible
employees of the Company under Employees Stock Option Scheme 2006 at a price of
Rs.59.40 per option plus all applicable taxes, as may be levied in this regard
on the Company. The options were granted on 31st October, 2006 and have vested
completely. Out of the reserved Equity Shares, 1415609 Equity Shares have been
issued till date. The maximum exercise period is 8 years from the date of grant
of options.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
93.367 |
92.831 |
92.831 |
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(b) Reserves & Surplus |
7571.986 |
6374.309 |
5232.024 |
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(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
7665.353 |
6467.140 |
5324.855 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
161.307 |
420.175 |
546.969 |
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(b) Deferred tax liabilities
(Net) |
466.806 |
399.587 |
356.642 |
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(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
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(d) long-term provisions |
0.000 |
0.000 |
0.000 |
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Total
Non-current Liabilities (3) |
628.113 |
819.762 |
903.611 |
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(4) Current Liabilities |
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(a) Short term borrowings |
568.663 |
772.569 |
2198.394 |
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(b) Trade payables |
1531.000 |
1005.979 |
955.126 |
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(c) Other current liabilities |
737.028 |
890.720 |
549.192 |
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(d) Short-term provisions |
345.924 |
330.709 |
212.647 |
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Total
Current Liabilities (4) |
3182.615 |
2999.977 |
3915.359 |
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TOTAL |
11476.081 |
10286.879 |
10143.825 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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(i) Tangible assets |
4394.258 |
3875.783 |
3645.504 |
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(ii) Intangible Assets |
23.982 |
29.065 |
22.282 |
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(iii) Capital work-in-progress |
129.874 |
228.558 |
283.296 |
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(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
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(b) Non-current Investments |
0.095 |
0.090 |
0.084 |
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(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
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(d) Long-term Loan and Advances |
79.853 |
89.484 |
63.535 |
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(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
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Total
Non-Current Assets |
4628.062 |
4222.980 |
4014.701 |
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(2) Current assets |
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(a) Current investments |
540.528 |
291.052 |
65.044 |
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(b) Inventories |
2517.154 |
2327.343 |
2838.061 |
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(c) Trade receivables |
2781.120 |
2511.887 |
2288.886 |
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(d) Cash and cash equivalents |
434.119 |
600.359 |
706.911 |
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(e) Short-term loans and
advances |
556.918 |
315.664 |
207.848 |
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(f) Other current assets |
18.180 |
17.594 |
22.374 |
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Total
Current Assets |
6848.019 |
6063.899 |
6129.124 |
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TOTAL |
11476.081 |
10286.879 |
10143.825 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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SALES |
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Income |
13261.049 |
12011.275 |
12217.402 |
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Other Income |
137.385 |
182.724 |
58.339 |
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TOTAL (A) |
13398.434 |
12193.999 |
12275.741 |
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Less |
EXPENSES |
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Cost of Raw Materials Consumed |
8097.962 |
7468.283 |
7871.654 |
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Purchase of Stock-in-trade |
228.917 |
47.660 |
34.985 |
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Changes in Inventories of Finished Goods, Work-in-Process |
79.087 |
(117.772) |
47.811 |
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Employee Benefits Expense |
789.299 |
721.198 |
567.471 |
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Other Expenses |
1498.907 |
1513.426 |
1771.695 |
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TOTAL (B) |
10694.172 |
9632.795 |
10293.616 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2704.262 |
2561.204 |
1982.125 |
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Less |
FINANCIAL
EXPENSES (D) |
103.395 |
121.366 |
165.599 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2600.867 |
2439.838 |
1816.526 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
458.648 |
424.725 |
424.915 |
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PROFIT BEFORE
TAX (E-F) (G) |
2142.219 |
2015.113 |
1391.611 |
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|
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Less |
TAX (H) |
714.137 |
655.613 |
277.192 |
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PROFIT AFTER TAX
(G-H) (I) |
1428.082 |
1359.500 |
1114.419 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1713.603 |
1171.318 |
718.735 |
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|
|
|
|
|
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Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
900.000 |
600.000 |
500.000 |
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Proposed Dividend with dividend tax |
245.778 |
217.215 |
161.836 |
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BALANCE CARRIED
TO THE B/S |
1995.907 |
1713.603 |
1171.318 |
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EARNINGS IN
FOREIGN CURRENCY |
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|
|
|
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Export at F.O.B. value |
3112.051 |
3437.626 |
2885.870 |
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TOTAL EARNINGS |
3112.051 |
3437.626 |
2885.870 |
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IMPORTS |
|
|
|
|
|
|
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Raw Materials |
2317.516 |
2467.397 |
3257.849 |
|
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Components and Spare Parts |
31.086 |
148.454 |
50.892 |
|
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Capital Goods |
317.610 |
238.315 |
216.386 |
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TOTAL IMPORTS |
2666.212 |
2854.166 |
3525.127 |
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Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
30.74 |
29.29 |
24.02 |
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|
- Diluted |
30.49 |
29.14 |
23.90 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
10.77 |
11.32 |
9.12 |
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Operating Profit Margin (PBIDT/Sales) |
(%) |
20.39 |
21.32 |
16.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
18.67 |
20.03 |
14.11 |
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.28 |
0.31 |
0.26 |
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|
|
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|
Debt Equity Ratio (Total Debt /Networth) |
|
0.10 |
0.18 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15 |
2.02 |
1.57 |
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 |
92.831 |
92.831 |
93.367 |
|
Reserves & Surplus |
5232.024 |
6374.309 |
7571.986 |
|
Net
worth |
5324.855 |
6467.140 |
7665.353 |
|
|
|
|
|
|
long-term borrowings |
546.969 |
420.175 |
161.307 |
|
Short term borrowings |
2198.394 |
772.569 |
568.663 |
|
Total
borrowings |
2745.363 |
1192.744 |
729.970 |
|
Debt/Equity
ratio |
0.516 |
0.184 |
0.095 |
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 |
12217.402 |
12011.275 |
13261.049 |
|
|
|
(1.687) |
10.405 |
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 |
12217.402 |
12011.275 |
13261.049 |
|
Profit |
1114.419 |
1359.500 |
1428.082 |
|
|
9.12% |
11.32% |
10.77% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM BORROWING
Rs. In Millions
|
Particular |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Current maturities of long-term Borrowing |
80.653 |
162.353 |
152.443 |
|
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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 |
Yes |
|
17] |
Major suppliers |
Yes |
|
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] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
LITIGATIONS DETAILS
HIGH COURT OF GUJARAT
TAX APPEAL No. 795 of 2013
[GROUP
00794-00795]
|
Status : PENDING
|
( Converted from : O/ST/2264/2013 ) |
CCIN No : 001092201300795 |
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S.NO. |
Name of the Petitioner |
Advocate On Record |
|||||||||
|
1 |
COMMISSIONER OF INCOME TAX CENTRAL II |
MRS MAUNA M BHATT for: Appellant(s) |
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|
S.NO. |
Name of the Respondant |
Advocate On Record |
|||||||||
|
1 |
RATNAMANI METALS AND TUBES LTD |
MR. HARDIK V VORA for :Opponent(s) |
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|
Presented On |
: 26/08/2013 |
Registered On |
: 13/09/2013 |
||||||||
|
Bench Category |
: - |
District |
: AHMEDABAD |
||||||||
|
Case Originated From |
: THROUGH HIS/HER/THEIR ADVOCATE |
Listed |
: 179 times |
||||||||
|
StageName |
: ADMISSION (FRESH MATTERS) |
||||||||||
|
Classification |
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|
Act |
|
Office Details |
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
26/08/2013 |
APPEARANCE NOTE |
MRS MAUNA M BHATT ADVOCATE |
0 |
MRS MAUNA M BHATT(174) for P:1 |
|
2 |
26/08/2013 |
MEMO OF APPEAL/PETITION/SUIT |
MRS MAUNA M BHATT ADVOCATE |
20 |
MRS MAUNA M BHATT(174), for P:1 |
|
3 |
08/01/2014 |
VAKALATNAMA |
MR. HARDIK V VORA ADVOCATE |
5 |
MR. HARDIK V VORA(7123) for R:1 |
Court Proceedings |
|||||
|
S. No. |
Notified Date |
CourtCode |
Board Sr. No. |
Stage |
Action |
Coram |
|
1 |
17/09/2013 |
5 |
57 |
FOR OFFICE OBJECTION |
NEXT DATE |
· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI |
|
2 |
24/09/2013 |
5 |
11 |
ADMISSION (FRESH MATTERS) |
RULE/ADMIT |
· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI |
Available Orders |
||||||
|
S. No. |
Case Details |
Judge Name |
Order Date |
CAV |
Judgement |
Questions |
Transferred |
|
1 |
TAX APPEAL/789/2013 |
· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI |
17/09/2013 |
N |
ORDER |
- |
Y |
|
2 |
TAX APPEAL/794/2013 |
· HONOURABLE MR.JUSTICE M.R. SHAH · HONOURABLE MS JUSTICE SONIA GOKANI |
24/09/2013 |
N |
ORDER |
- |
Y |
Certified Copy |
|||||||
|
S. No. |
ApplicantName |
ApplicationType |
Application Date |
UOL Number |
Order Date |
Notify Date |
Delivery Date |
Status |
Nature Of
Document |
|
1 |
MRS MAUNA M BHATT |
ORDINARY |
25/09/2013 |
O/29248/2013 |
24/09/2013 |
30/09/2013 |
30/09/2013 |
Delivered |
ORDER |
OPERATIONAL REVIEW
Operating in a volatile and uncertain environment, the company demonstrated the resilience of its business model. The Company has achieved net revenue from operations of Rs.13261.049 Millions compared to previous year''s Rs.12011.275 Millions registering a growth of 10,4%. Profit Before Tax at Rs.2142.219 Millions was higher by 6.3% compared to Rs. 2015.113 Millions in 2012-13. Profit After Tax was Rs. 1428.082 Millions in 2013-14 as compared to Rs. 1359.500 Millions in 2012-13 registering a growth of 5.04%.
OPERATIONS
The company is enjoying a leadership position in industrial high-end application Stainless Steel Tubes and Pipes and Carbon Steel Pipes within the country and the focus has been to continuously build upon this strength. The Company has been investing in incremental capacity built-up, expanding the product range and the latest testing facilities every year. The products of the Company have found acceptance in well developed markets viz. Japan, South Korea, USA, Europe, etc. This has helped In ensuring a consistent performance notwithstanding the gloomy economic situation within the country and overseas during major part of last financial year,
MANAGEMENT
DISCUSSIONS AND ANALYSIS
Indian and Global
Industrial Scenario
Indian economy has gone through stagnant/difficult phase in the light of global economy not recovering guick enough after 2008 economic crisis and as a result of fears of adverse impact of US Federal Reserve's withdrawal of Quantitative Easing on emerging economies like India impacting exchange rates, interest rates and bond and debt instruments. Continuation of high inflation, high fiscal deficit, adverse current account position and sluggish economic scenario in the domestic market kept the entailments and opportunities very low.
Though there is a recovery to a some extent with projects like TANAR RAMONES etc coming up, the markets are still reeling under the effect of slowdown. However, a stable new government in the center should help in revival of the Indian economy gradually. This, coupled with revival in some of the major global economies, is expected to be positive for the manufacturing industry in general.
OUTLOOK
The Company has been preferred supplier tor many lead Ug companies and was Involved In several national and International projects, it has earned the customers preference. The Company has emerged as a one stop source of tubes and pipes foran array of Industrial applications. The Company’s fortunes are linked to capox In Industries like Refineries, Petrochemicals, Power, Fertllzer, etc. where Investment on continuous basis has been there within the country and Internationally also.
UNSECURED LOAN
|
Particulars |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
Short-term
borrowings |
|
|
|
Buyer's Credits in Foreign Currencies |
474.155 |
618.270 |
|
Total |
474.155 |
618.270 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10178252 |
16/09/2009 |
1,217,000,000.00 |
ICICI BANK LIMITED |
9TH FLOOR, JMC
HOUSE, OPP. PARIMAL GARDEN, AHMEDA |
A70863808 |
|
2 |
10137333 |
15/01/2009 |
396,000,000.00 |
3I INFOTECH TRUSTEESHIP SERVICES LIMITED |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK,, T |
A54501564 |
|
3 |
80001941 |
27/01/2014 * |
5,285,100,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
"PARAMSIDDHI" COMPLEX, OPP. V. |
B95870341 |
* Date of charge modification
UNAUDITED FINANCIAL RESULT FOR THE 2nd QUARTER ENDED 30TH
SEPTEMBER 2014
(Rs. In Millions)
|
Particulars |
Quarter Ended (Unaudited) |
Half Years ended |
|
|
|
30.09.2014 |
30.06.2014 |
30.06.2014 |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
4176.746 |
3305.880 |
7482.626 |
|
b) Other operating income |
203.923 |
188.480 |
392.403 |
|
Total
income from Operations(net) |
4380.669 |
3494.360 |
7875.029 |
|
2.Expenditure |
|
|
|
|
Cost of material consumed |
3218.238 |
2564.526 |
3705.301 |
|
Purchase of stock in trade |
1.307 |
7.748 |
101.865 |
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(413.649) |
(303.258) |
(716.907) |
|
Employees benefit expenses |
249.611 |
211.471 |
461.082 |
|
Depreciation and amortization expenses |
162.272 |
126.878 |
289.150 |
|
Other expenditure |
443.179 |
325.216 |
768.395 |
|
Total expenses |
3660.958 |
2932.581 |
6593.539 |
|
3. Profit from operations before other income and
financial costs |
719..711 |
561.779 |
1281.490 |
|
4. Other income |
42.710 |
35.489 |
78.199 |
|
5. Profit from ordinary activities before finance costs |
762.421 |
597.268 |
1359.689 |
|
6. Finance costs |
12.718 |
14.060 |
26.778 |
|
7. Net profit/(loss) from
ordinary activities after finance costs but before exceptional items |
749.703 |
583.208 |
1332.911 |
|
8. Exceptional item |
0.000 |
0.000 |
0.000 |
|
9. Profit from ordinary
activities before tax Expense: |
749.703 |
583.208 |
1332.911 |
|
10.Tax expenses |
257.373 |
198.544 |
455.917 |
|
11.Net Profit / (Loss) from ordinary activities
after tax (9-10) |
492.330 |
384.664 |
876.994 |
|
12.Extraordinary Items (net
of tax expense) |
0.000 |
0.000 |
0.000 |
|
13.Net Profit / (Loss) for
the period (11 -12) |
492.330 |
384.664 |
876.994 |
|
14.Paid-up equity share capital (Nominal value Rs.2/- per share) |
93.367 |
93.367 |
93.367 |
|
15. Reserve excluding Revaluation Reserves as per balance sheet of
previous accounting year |
|
|
|
|
16.i) Earnings per share (before
extraordinary items) of Rs.2/- each) (not annualised): |
|
|
|
|
(a) Basic |
10.55 |
8.24 |
18.79 |
|
(b) Diluted |
10.51 |
8.21 |
18.72 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
18711460 |
18711460 |
18711460 |
|
- Percentage of shareholding |
40.08 |
40.08 |
40.08 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
400000 |
400000 |
400000 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
1.43 |
1.43 |
1.43 |
|
Percentage of shares (as a % of total share capital of the
company) |
0.86 |
0.86 |
0.86 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
27571990 |
27571990 |
27571990 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
98.57 |
98.57 |
98.57 |
|
Percentage of shares (as a % of total share capital of the
company) |
59.06 |
59.06 |
59.06 |
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
Nil |
|
Disposed of during the quarter |
Nil |
|
Remaining unreserved at the end of the quarter |
Nil |
UNAUDITED SEGMENT WIE
REVENUE, RESULTS AND CAPITAL EMPLOYED
(Rs. In
Millions)
|
Particulars |
Quarter
Ended (Unaudited) |
Half
Years ended |
|
|
|
30.09.2014 |
30.06.2014 |
30.06.2014 |
|
1.
Segment Revenue |
|
|
|
|
Steel Tubes and Pipes |
4323.782 |
3435.070 |
7758.852 |
|
Windmills |
56.887 |
59.290 |
116.177 |
|
Total |
4380.669 |
3494.360 |
7875.029 |
|
Less : Inter Segment Revenue |
0.000 |
0.000 |
0.000 |
|
Net
Sales |
4380.669 |
3494.360 |
7875.029 |
|
|
|
|
|
|
2.
Segment Result (Profit
before Interest and Tax) |
|
|
|
|
Steel Tubes and Pipes |
694.930 |
531.819 |
1226.749 |
|
Windmills |
28.906 |
32.706 |
61.612 |
|
Total |
723.836 |
564.525 |
1288.361 |
|
Less
: Interest and Dividend Income |
41.874 |
31.212 |
73.086 |
|
Less:
Foreign exchange (Gain) Loss on buyer credit |
3.289 |
(1.531) |
1.758 |
|
Less: Interest and Finance Charges |
12.718 |
14.060 |
26.778 |
|
|
|
|
|
|
Profit before tax |
749.703 |
583.208 |
1332.911 |
|
|
|
|
|
|
3.
Capital Employed |
|
|
|
|
Steel Tubes and Pipes |
8389.753 |
7678.540 |
8389.753 |
|
Windmills |
902.075 |
941.538 |
902.075 |
|
Un- allocable |
(749.481) |
(589.360) |
(749.481) |
|
Total |
8542.347 |
8030.718 |
8542.347 |
STATEMENT OF ASSETS AND LIABILITIES
|
SOURCES
OF FUNDS |
30.09.2014 |
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
(1)Shareholders' Funds |
|
|
(a) Share Capital |
93.367 |
|
(b) Reserves & Surplus |
8448.980 |
|
(c) Money received against
share warrants |
0.000 |
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
8542.347 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
123.980 |
|
(b) Deferred tax liabilities
(Net) |
456.855 |
|
(c) Other long term
liabilities |
0.000 |
|
(d) long-term provisions |
0.000 |
|
Total
Non-current Liabilities (3) |
580.835 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term borrowings |
228.244 |
|
(b) Trade payables |
1784.233 |
|
(c) Other current liabilities |
763.134 |
|
(d) Short-term provisions |
225.757 |
|
Total
Current Liabilities (4) |
3001.368 |
|
|
|
|
TOTAL |
12124.550 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed Assets |
4505.967 |
|
(b) Non-current Investments |
0.703 |
|
(c) Deferred tax assets (net) |
0.000 |
|
(d) Long-term Loan and Advances |
106.916 |
|
(e) Other Non-current assets |
0.000 |
|
Total
Non-Current Assets |
4613.586 |
|
|
|
|
(2) Current assets |
|
|
(a) Current investments |
317.781 |
|
(b) Inventories |
2944.740 |
|
(c) Trade receivables |
3327.665 |
|
(d) Cash and cash equivalents |
170.495 |
|
(e) Short-term loans and
advances |
747.724 |
|
(f) Other current assets |
2.559 |
|
Total
Current Assets |
7510.964 |
|
|
|
|
TOTAL |
12124.550 |
NOTE:
The aforesaid results, as reviewed by the Audit Committee, were approved by the Board of Directors in its meeting held on 6th November, 2014.
The Statutory Auditors have carried out limited review of the above financial
results.
Figures of previous periods have been regrouped, wherever considered necessary
to make them comparable.
In accordance with Companies Act 2013, the Company has revised the useful life
of its fixed assets to comply with the useful life as mentioned under Schedule
II of the Companies Act, 2013. As per transition provision, the Company had
adjusted, in last quarter, Rs 19.299 Millions (net of deferred tax of Rs 9.936
Millions) with the opening balances of retained earnings. However, during the
current quarter, the Company based on the clarification given by Ministry of
Corporate Affairs has adjusted the said additional depreciation charge to
Statement of Profit and Loss.
FIXED
ASSETS:
Tangible Assets
- Lease Hold Land
- Freehold Land
- Buildings
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Vehicles
Intangible Assets
- Software
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 records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
68 |
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.