MIRA INFORM REPORT
|
Report No. : |
304250 |
|
Report Date : |
27.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
APCOTEX INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Plot No.3/1, M I D C Industrial Area, Taloja, Raigad - 410208,
Maharashtra |
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|
Country : |
India |
|
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|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
12.03.1986 |
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|
|
|
Com. Reg. No.: |
11-039199 |
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|
Capital
Investment / Paid-up Capital : |
Rs. 51.845 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999MH1986PLC039199 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA11171G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACA3427G |
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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
: |
Subject is engaged in manufacturing of Synthetic Lattices VP Latex,
Acrylic Latex, Nitrile Latex) and Synthetic Rubber (HSR, SBR). |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 2500000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track. The rating reflects company’s healthy financial risk profile marked by
adequate liquidity position and decent profitability margins of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Cash Credit : AA- |
|
Rating Explanation |
High degree of safety and very low credit risk |
|
Date |
January, 2015 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of Credit : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
January, 2015 |
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 Office /Factory : |
Plot No.3/1, M I D C Industrial Area, Taloja, Raigad - 410208, Maharashtra,
India |
|
Tel. No.: |
91-22-27403500 |
|
Fax No.: |
91-22-27412052 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
NKM International House, 178 Backbay Reclamation, Babubhai M Chinnai Marg, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22838302 / 04 |
|
Fax No.: |
91-22-22838291 |
|
Email.: |
DIRECTORS
As on 31.03.2014
|
Name : |
Atul C. Choksey |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Girish C. Choksey |
|
Designation : |
Director |
|
|
|
|
Name : |
Amit C. Choksey |
|
Designation : |
Director
|
|
|
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|
Name : |
Manubhai G. Patel |
|
Designation : |
Director
|
|
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|
Name : |
Bipin V. Jhaveri |
|
Designation : |
Director |
|
|
|
|
Name : |
Dr. S. Sivaram |
|
Designation : |
Director |
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|
|
|
Name : |
T. N. V. Ayyar (upto 31/03/2014) |
|
Designation : |
Director |
|
|
|
|
Name : |
Shailesh S. Vaidya |
|
Designation : |
Director |
|
|
|
|
Name : |
Kamlesh S. Vikamsey |
|
Designation : |
Director |
|
|
|
|
Name : |
Abhiraj A. Choksey |
|
Designation : |
Managing Director |
KEY EXECUTIVES
|
Name : |
Anand
V. Kumashi |
|
Designation : |
COMPANY SECRETARY |
|
|
|
|
Audit
Committee : |
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
shareholders |
Total No. of Shares |
Percentage
of Holding |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
1511642 |
14.58 |
|
|
4461391 |
43.03 |
|
|
5973033 |
57.60 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
5973033 |
57.60 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1348 |
0.01 |
|
|
2974 |
0.03 |
|
|
446 |
0.00 |
|
|
446 |
0.00 |
|
|
4768 |
0.05 |
|
|
|
|
|
|
268580 |
2.59 |
|
|
|
|
|
|
3207907 |
30.94 |
|
|
721024 |
6.95 |
|
|
193680 |
1.87 |
|
|
33765 |
0.33 |
|
|
274 |
0.00 |
|
|
155867 |
1.50 |
|
|
3774 |
0.04 |
|
|
4391191 |
42.35 |
|
Total Public shareholding (B) |
4395959 |
42.40 |
|
Total (A)+(B) |
10368992 |
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) |
10368992 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Synthetic Lattices VP Latex,
Acrylic Latex, Nitrile Latex) and Synthetic Rubber (HSR, SBR). |
|
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|
Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
Not Available |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Kalyaniwala
and Mistry Chartered
Accountants. |
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|
|
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Memberships : |
-- |
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|
|
|
Collaborators : |
-- |
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Related Parties: |
|
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29940000 |
Equity Shares |
Rs.5/- each |
Rs.149.700 Millions |
|
500 |
Preference Shares |
Rs.100/- each |
Rs. 0.050
Million |
|
50000 |
Unclassified Shares |
Rs.5/- each |
Rs. 0.250
Millions |
|
|
Total
|
|
Rs. 150.000 Millions
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10368992 |
Equity Shares |
Rs.5/- each |
Rs. 51.845
Millions |
|
Add |
(Including Rs. 0.390 million towards 78,051 shares forfeited at Rs. 5/- each) |
|
Rs. 0.390
Million |
|
|
Total |
|
Rs. 52.235 Millions |
Reconciliation
of the number of shares outstanding at the beginning and at the end of the year
|
Equity Shares |
As at 31st March 2014 |
|
|
|
No. of Shares |
Rs. In Millions |
|
At the beginning of
the year |
5184496 |
52.235 |
|
Add
: Increase in the no. of shares on subdivision of each
share of ` 10 each into 2 equity
share of ` 5 each during the year |
5184496 |
-- |
|
Outstanding at the
end of the year |
10368992 |
52.235 |
Details of Shareholders holding more than 5% equity shares in the
company
|
Equity Shares of Rs. 10/- Each |
As at 31st March 2014 |
|
|
|
No. of Equity Shares |
% Holding |
|
Trivikram
Investment & Trading Company Limited |
1973336 |
19.03 |
|
Dhumraketu
Investment & Trading Company Private Limited |
1,658,952 |
16.00 |
|
Atul
Champaklal Choksey |
667,700 |
6.44 |
|
Saldhar
Investment & Trading Company Private Limited |
566,544 |
5.46 |
d)
Rights, Preferences & Restrictions attached to Equity Shares:
The
Company has one class of share having a par value of `5 per share. Each
Shareholder is eligible for one vote per share held. The dividend proposed by
the Board of Directors is subject to the approval of the shareholders in the
ensuing Annual General Meeting. In the event of liquidation, the equity
shareholders are eligible to receive the remaining assets of the company after
distribution of all preferential amounts, in proportion to their shareholding.
NOTES
TO ACCOUNTS FOR THE YEAR ENDED 31ST MARCH 2014
e)
Aggregate number of
shares & class of shares bought back during the last 5 years:
|
Financial Year 2009-10 |
As
at 31st March 2014 |
As
at 31st March 2013 |
|
No
of Equity Shares |
342.856 |
342.856 |
|
Face
Value per Share bought |
10 |
10 |
|
Total
Face Value (`in Lacs) |
3.429 |
3.429 |
|
Premium
per Share |
7.889 |
7.889 |
|
Total
Premium (`in Lacs) |
27.049 |
27.049 |
|
Grand Total (`in Lacs) |
30.478 |
30.478 |
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 |
52.235 |
52.235 |
52.235 |
|
(b) Reserves &
Surplus |
800.518 |
729.744 |
645.532 |
|
(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) |
852.753 |
781.979 |
697.767 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
166.999 |
217.560 |
256.899 |
|
(b) Deferred tax
liabilities (Net) |
63.775 |
65.797 |
54.833 |
|
(c) Other long term
liabilities |
10.210 |
10.223 |
4.330 |
|
(d) long-term provisions |
16.413 |
10.854 |
22.629 |
|
Total Non-current
Liabilities (3) |
257.397 |
304.434 |
338.691 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
229.417 |
206.427 |
324.078 |
|
(b) Trade payables |
250.125 |
193.679 |
139.376 |
|
(c) Other current
liabilities |
174.278 |
168.847 |
51.456 |
|
(d) Short-term provisions |
72.322 |
62.473 |
115.646 |
|
Total Current Liabilities
(4) |
726.142 |
631.426 |
630.556 |
|
|
|
|
|
|
TOTAL |
1836.292 |
1717.839 |
1667.014 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
676.854 |
649.428 |
317.403 |
|
(ii) Intangible Assets |
1.062 |
0.463 |
0.432 |
|
(iii) Capital
work-in-progress |
11.275 |
13.662 |
72.167 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
244.495 |
225.155 |
214.051 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
59.368 |
56.387 |
49.885 |
|
(e) Other Non-current
assets |
10.093 |
8.479 |
0.000 |
|
Total Non-Current Assets |
1003.147 |
953.574 |
653.938 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
171.004 |
107.928 |
135.241 |
|
(c) Trade receivables |
517.054 |
471.843 |
447.704 |
|
(d) Cash and cash
equivalents |
61.215 |
153.956 |
343.310 |
|
(e) Short-term loans and
advances |
46.881 |
26.647 |
80.414 |
|
(f) Other current assets |
36.991 |
3.891 |
6.407 |
|
Total Current Assets |
833.145 |
764.265 |
1013.076 |
|
|
|
|
|
|
TOTAL |
1836.292 |
1717.839 |
1667.014 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
2953.781 |
2721.263 |
2538.472 |
|
|
Other Income |
48.129 |
12.580 |
33.958 |
|
|
TOTAL (A) |
3001.910 |
2733.843 |
2572.430 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
2301.921 |
2044.175 |
1935.532 |
|
|
Purchases of
Stock-in-Trade |
|
|
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(35.554) |
18.638 |
(2.766) |
|
|
Employees benefits
expense |
115.882 |
107.811 |
100.850 |
|
|
Other expenses |
344.019 |
328.192 |
311.225 |
|
|
TOTAL (B) |
2726.268 |
2498.816 |
2344.841 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
275.642 |
235.027 |
227.589 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
41.449 |
23.481 |
36.605 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
234.193 |
211.546 |
190.984 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
67.681 |
31.130 |
27.864 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
166.512 |
180.416 |
163.120 |
|
|
|
|
|
|
|
Less |
TAX (I) |
35.080 |
52.363 |
48.482 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
131.432 |
128.053 |
114.638 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
12.68 |
12.35 |
22.11 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.45 |
4.71 |
4.52 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.33 |
8.64 |
8.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.54 |
12.20 |
11.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.23 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.46 |
0.54 |
0.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.21 |
1.61 |
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 |
52.235 |
52.235 |
52.235 |
|
Reserves & Surplus |
645.532 |
729.744 |
800.518 |
|
Net worth |
697.767 |
781.979 |
852.753 |
|
|
|
|
|
|
long-term borrowings |
256.899 |
217.560 |
166.999 |
|
Short term borrowings |
324.078 |
206.427 |
229.417 |
|
Total borrowings |
580.977 |
423.987 |
396.416 |
|
Debt/Equity ratio |
0.833 |
0.542 |
0.465 |
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 |
2538.472 |
2721.263 |
2953.781 |
|
|
|
7.201 |
8.544 |
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 |
2538.472 |
2721.263 |
2953.781 |
|
Profit |
114.638 |
128.053 |
131.432 |
|
|
4.52% |
4.71% |
4.45% |
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 |
-- |
|
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 |
OPERATIONS
DURING THE FINANCIAL YEAR 2013-14.
During the year, the Company
achieved Gross Value Sales of Rs.3303.543 Millions, registering a growth of 9.16%, compared to that of the
preceding year. The company exported its products worth Rs.345.900 Millions
compared to exports of Rs.253.500 Millions during the previous year, a growth
of 36%.
Overall, there was a
satisfactory sales growth in the business of Synthetic Latexes. There was a
sales de growth in Synthetic Rubber business due to overall shrinking market
witnessing competition from cheaper polymers as well as change in customer
preferences.
There was a continuous
thrust from the management to develop a strong research and development and
technical service team to understand better the changing customer needs,
improve product quality, and customer needs to improve product quality and
introduce better controls, through technology up-gradation.
Profits before tax
came-down by 7.7% to Rs.166.512 Millions as compared to Rs.180.416 Millions
during the previous year due to higher interest and depreciation. However EBITDA
increased by 17.3% from Rs.235.027 Millions in the previous year to Rs.275.642
Millions in FY 2014-15.
The profit after tax stood
at Rs.131.432 Millions as compared to Rs.128.053 Millions in the previous year.
Your Directors consider
Company’s performance as satisfactory.
OUTLOOK.
The
Company expects the current year to be challenging one in terms of volatilities
in prices of major inputs materials. Overall growth of the economy,
introduction of new products, improving market share in the domestic market and
export growth, are expected to augur well for the Company.
With
company’s continuous endeavour to enhance efficiencies at all levels and
functions, your Directors view the prospects for the financial year 2014-15
with cautious optimism.
AUDITED FINANCIAL
RESULTS FOR THE QUARTER AND HALF YEAR ENDED 31ST SEPTEMBER 2014
|
Particulars |
Quarter ended |
Half Year Ended |
|
|
|
31.09.2014 (Audited) |
30.06.2014 (Audited) |
31.09.2014 (Audited) |
|
1) Income from
operations |
|
|
|
|
a)Gross Sales |
991.600 |
1124.668 |
2116.268 |
|
b) Net sales/income from operations (Net of excise duty) |
900.767 |
1025.042 |
1925.809 |
|
c) Other operating income |
4.380 |
4.562 |
8.942 |
|
Total Income from
operations (net) |
905.147 |
1029.604 |
1934.751 |
|
|
|
|
|
|
2) Expenses |
|
|
|
|
a) Cost of material consumed |
667.262 |
753.792 |
1421.054 |
|
b) Purchases of stock-in-trade |
|
|
|
|
c) Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(5.666) |
4.966 |
(0.700) |
|
d) Employee benefits expense |
35.792 |
35.527 |
71.319 |
|
e) Other Expenditure |
104.854 |
133.027 |
237.881 |
|
Total expenses |
802.242 |
927.312 |
1729.554 |
|
3) Profit from operations
before other income, finance costs and exceptional items (1-2) |
102.905 |
102.292 |
205.197 |
|
4) Other income |
22.870 |
12.199 |
35.069 |
|
5) Profit from
ordinary activities before finance costs and exceptional items (3+4) |
125.775 |
114.491 |
240.266 |
|
6) Finance costs |
9.704 |
9.033 |
18.737 |
|
7) Cash Profit (5-6) |
|
|
|
|
8) Depreciation and amortisation expense |
22.634 |
23.879 |
46.513 |
|
9) Profit / (Loss) from ordinary activities
after finance costs but before exceptional items (7-8) |
93.437 |
81.579 |
175.016 |
|
10) Exceptional items |
|
|
|
|
11) Profit / (Loss) from ordinary
activities before tax (9+/-10) |
93.437 |
81.579 |
175.016 |
|
12) Tax expense |
22.438 |
23.999 |
46.437 |
|
13) Net Profit from
ordinary activities after tax (11+/-12) |
70.999 |
57.580 |
128.579 |
|
14) Extraordinary items (net of tax expense) |
|
|
|
|
15) Net Profit for the period (13+/-14) |
70.999 |
57.580 |
128.579 |
|
16) Share of profit / (loss) of associates |
|
|
|
|
17) Minority interest |
|
|
|
|
18) Net Profit / (Loss) after taxes,
minority interest and share of profit / (loss) of associates (15 + 16 + 17) |
70.999 |
57.580 |
128.579 |
|
19) Paid up equity share capital(Face value Rs. 2/- each) |
52.235 |
52.235 |
52.235 |
|
20) Reserve excluding Revaluation Reserves as per balance sheet of previous accounting year |
|
|
914.427 |
|
21.i. Earnings per share (before
extraordinary items) (of Rs 5/- each)
(not annualised): |
|
|
|
|
Basic |
6.85 |
5.55 |
12.40 |
|
Diluted |
6.85 |
5.55 |
12.40 |
|
21.ii. Earnings per share (after extraordinary items) (of Rs 5- each) (not annualised): |
|
|
|
|
Basic |
6.85 |
5.55 |
12.40 |
|
Diluted |
6.85 |
5.55 |
12.40 |
|
|
|
|
|
|
A PARTICULARS OF SHAREHOLDINGS |
|
|
|
|
1. Public
Shareholding |
|
|
|
|
No. of shares |
4395959 |
4396564 |
4396564 |
|
Percentage of shareholding |
42.40 |
42.40 |
42.40 |
|
|
|
|
|
|
2. Promoter and Promoter
group Shareholding |
|
|
|
|
a. Pledged/Encumbered |
|
|
|
|
-Number of Shares |
|
|
|
|
Percentage of Shares(as a % of total shareholding of promoter group) |
|
|
|
|
b Non-Encumbered |
|
|
|
|
-Number of Shares |
5973033 |
5972428 |
5972428 |
|
-Percentage of Shares(as a % of total shareholding of promoter group) |
100 |
100 |
100 |
|
-Percentage of Shares(as a % of the total Share Capital of Company |
57.60 |
57.60 |
57.60 |
|
Particulars |
|
|
B. Investor Complaints |
|
|
Pending at the beginning of the quarter |
0 |
|
Received during the quarter |
47 |
|
Disposed of during the quarter |
47 |
|
Remaining unresolved at the end of the
quarter |
0 |
NOTE:
1. The Company is engaged
in the business of Synthetic Emulsion Polymers.
2. The above financial results were reviewed by the Audit Committee &
approved by the Board of Directors at their meeting held on Oct 31, 2014.
3. Consequent to Schedule II to The Companies Act, 2013 becoming applicable
w.e.f. April 01, 2014, depreciation for the half year ended Sept. 30, 2014 has
been provided on the basis of the useful lives as prescribed in Schedule II.
This has resulted in the depreciation expense for the quarter ended September
30, 2014 being higher by Rs. 4.641 Million and for half year ended September
30, 2014 being higher by Rs. 11.019 Million. Depreciation of Rs. 14.671 Million
(net of deferred tax) on account of assets whose useful life is already
exhausted as on April 01, 2014.
4. The above figures have been regrouped wherever necessary.
FIXED ASSETS
Tangible Assets
- Leasehold Land
- Buildings
- Plant and Equipment
- Equipment’s
- Furniture and Office equipment’s
- Office Equipment’s
- Vehicles
- Electric and Pipe Fittings
- Wind Turbine Generator
- Scientific Research
Intangible Assets
- Computer
Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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 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.61.50 |
|
|
1 |
Rs.92.16 |
|
Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
RCH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILITY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--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.