MIRA INFORM REPORT
|
Report No. : |
330097 |
|
Report Date : |
02.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
PROVOGUE (INDIA) LIMITED |
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|
|
|
Formerly Known
As : |
ACME CLOTHIND PRIVATE LIMITED |
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Registered
Office : |
105/106, Provogue House, 1st Floor, Off New Link Road,
Andheri West Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-30620000/ 30680640/ 26735682/ 83/ 30680566/ 30653111/ 222 |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
17.11.1997 |
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|
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|
Com. Reg. No.: |
11-111924 |
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Capital
Investment / Paid-up Capital : |
Rs. 114.357 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L18101MH1997PLC111924 |
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IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA21494E |
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PAN No.: [Permanent Account No.] |
AABCA8524F |
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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 the business of manufacturing,
trading of garments, fashion accessories, textile products and related
materials. |
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|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Exist |
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Comments : |
PIL, founded in 1997, is engaged in the manufacturer, sale and retail of
the fashion apparel products and accessories for men and women under its
well-known brand “Provogue”. Subject is established company and it is having satisfactory track
record. The ratings assigned to Provogue (India) Limited (PIL) factors in the deterioration
in operational and financial performance of the company during FY15.
Moreover, the ratings continue to be constrained by persistency high
operating cycle, and risk associated with foreign exchange fluctuation and
modest net worth base of the company. However, rating continue to derive strength from the experience of the
management and the promoters in the field of retail and trading operations,
moderate gearing levels and wide spread network in retail market. Trade relation are fair. Business is active. Payments are reported to
be slow but correct. In a view of experienced promoters backed by its wide network in the
market with good brand name “Provogue”, the company can be considered for the
business dealings at usual 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 |
CARE |
|
Rating |
Long Term Bank Facilities = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
January 2015. |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher 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) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DENIED BY
|
Name : |
Mr. Sameer Khandelwal |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-30620000 |
|
Date : |
01.07.2015 |
LOCATIONS
|
Registered/ Corporate Office: |
105/106, 1ST Floor, Dream Square, Off New Link Road,
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-30620000/ 30680640/ 26735682/ 83/ 30680566/ 30653111/ 222 |
|
Fax No.: |
91-22-30680570/ 26735688 |
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E-Mail : |
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|
Website : |
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Factory 1 : |
98/8 Ground
Floor Daman Industrial Estate Kadaiya Village, Nani Daman, Daman and Diu,
India |
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|
|
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Factory 2 : |
Village Gullarwala
Sai Road, Baddi - 173205, Himachal Pradesh, India |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Dinesh Arya |
|
Designation : |
Independent Director and Chairman |
|
Date of Appointment : |
26.05.2014 |
|
|
|
|
Name : |
Mr. Nikhil Chaturvedi |
|
Designation : |
Managing Director |
|
Qualification : |
B. Com |
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|
|
|
Name : |
Mr. Akhil Chaturvedi |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
20.04.1965 |
|
Qualification : |
MMS |
|
Experience : |
17 Years |
|
Date of Appointment : |
17.11.1997 |
|
|
|
|
Name : |
Mr. Deep Gupta |
|
Designation : |
Whole Time Director |
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Qualification : |
MBA B. Sc. |
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|
|
|
Name : |
Mr. Hetal Hakani |
|
Designation : |
Independent Director |
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Date of Appointment : |
26.05.2014 |
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|
|
|
Name : |
Mr. Salil Chaturvedi |
|
Designation : |
Non-Executive Director |
|
Qualification : |
B. Sc., B.E. |
|
|
|
|
Name : |
Mr. Rakesh Rawat |
|
Designation : |
Non-Executive Director |
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Date of Birth/Age : |
20.04.1965 |
|
Qualification : |
MBA |
|
Experience : |
15 Years |
|
Date of Appointment : |
04.09.2004 |
|
|
|
|
Name : |
Nigam Patel |
|
Designation : |
Non-Executive Director |
|
Date of Birth/Age : |
28.02.1970 |
|
Qualification : |
B.Com |
|
Experience : |
15 Years |
|
Date of Appointment : |
17.11.1997 |
KEY EXECUTIVES
|
Name : |
Mr. Ajayendra P Jain |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Sameer Khandelwal |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
34661174 |
30.31 |
|
|
12539640 |
10.97 |
|
|
12539640 |
10.97 |
|
|
47200814 |
41.27 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
47200814 |
41.27 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
936506 |
0.82 |
|
|
5712435 |
5.00 |
|
|
6648941 |
5.81 |
|
|
|
|
|
|
7460873 |
6.52 |
|
|
|
|
|
|
27033235 |
23.64 |
|
|
10593621 |
9.26 |
|
|
15419611 |
13.48 |
|
|
3641578 |
3.18 |
|
|
6000000 |
5.25 |
|
|
2350268 |
2.06 |
|
|
3427765 |
3.00 |
|
|
60507340 |
52.91 |
|
Total Public
shareholding (B) |
67156281 |
58.73 |
|
Total (A)+(B) |
114357095 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
114357095 |
0.00 |
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%20LIMITED%20-%20330097_MIRA%2002-Jul-2015_files/image017.gif){kind=small}
%20LIMITED%20-%20330097_MIRA%2002-Jul-2015_files/image018.gif){kind=small}
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 |
Nikhil Anupendra Chaturvedi |
80,85,806 |
7.07 |
|
2 |
Salil Anupendra Chaturvedi |
1,02,95,135 |
9.00 |
|
3 |
Rakesh Rawat |
41,11,750 |
3.60 |
|
4 |
Deep Subash Gupta |
56,73,445 |
4.96 |
|
5 |
Nigam Patel |
27,46,222 |
2.40 |
|
6 |
Akhil Anupendra Chaturvedi |
28,84,330 |
2.52 |
|
7 |
Anisha Chaturvedi |
1,44,225 |
0.13 |
|
8 |
Veena Gupta |
70,005 |
0.06 |
|
9 |
Vandana Vaidh |
1,620 |
0.00 |
|
10 |
Anisha Chhabra |
22,035 |
0.02 |
|
11 |
Ghanshyam Rawat |
20,500 |
0.02 |
|
12 |
Pushplata Raawat |
36,501 |
0.03 |
|
13 |
Bala Chhabra |
1,00,000 |
0.09 |
|
14 |
Sushant Chhabra |
67,300 |
0.06 |
|
15 |
Virendra Chhabra |
3,92,300 |
0.34 |
|
16 |
Meerut Festival City LLP |
14,99,640 |
1.31 |
|
17 |
Floro Mercantile LLP |
62,40,000 |
5.46 |
|
18 |
Topseed Trading Company LLP |
48,00,000 |
4.20 |
|
19 |
Santosh Subhash Gupta |
10,000 |
0.01 |
|
|
Total |
4,72,00,814 |
41.27 |
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 |
Nailsfield Limited (Account FDI) |
6000000 |
5.25 |
|
|
2 |
Nailsfield Limited (Account FII) |
5415000 |
4.74 |
|
|
3 |
Sandeep G Raheja |
4489600 |
3.93 |
|
|
4 |
Rajesh R Narang |
2324160 |
2.03 |
|
|
5 |
Acacia Partners LP |
1618875 |
1.42 |
|
|
6 |
Fairprice Traders (India) Private Limited |
1525195 |
1.33 |
|
|
7 |
Anand Rathi Share & Stock Brokers Limited |
2087301 |
1.83 |
|
|
|
Total |
23460131 |
20.51 |
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 |
Nailsfield Limited (Aggregate of shares held through FDi route and FII
route) |
11415000 |
9.98 |
|
|
|
Total |
11415000 |
9.98 |
Details of disclosure
made by the Trading Members holding 1% or more of the Total No. of shares of
the company.
|
Sl. No. |
Name of the
Trading Member |
Name of the
Beneficial Owner |
No. of shares
held |
% of total no.
of shares |
Date of reporting
by the Trading Member |
|
1 |
ANAND RATHI SHARE & STOCK BROKERS LTD. |
LAKSHON ELECTRONICS PRIVATE LIMITED |
20,49,909 |
1.79 |
08/05/2015 |
%20LIMITED%20-%20330097_MIRA%2002-Jul-2015_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of manufacturing,
trading of garments, fashion accessories, textile products and related
materials. |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
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|
Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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|
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Imports : |
Not Divulged |
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|
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Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Andhra Bank · Corporation Bank
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Facilities : |
(Rs.
In Million)
Note:
LONG
TERM BORROWINGS a)
Term Loans from Banks includes : i) Nil (PY Rs.
12.146 Millions) term loan from Corporation Bank carries interest @ Base Rate
+ 3.85% p.a.The loan is repayable in 20 quarterly instalments along with
interest starting from 6th May, 2009. The loan is secured by Equitable
Mortgage: First charge on factory land & building and Hypothecation:
First charge on P&M and other moveable assets acquired or to be acquired
out of the loan at the estimated cost of Rs. 84.500 Millions in Baddi,
Himachal Pradesh. ii) Rs. 636.334
Millions (PY Rs. 647.766 Millions) term loan from Bank of India carries
interest @ Base Rate + 2.50% per annum. The loan is repayable in 60 stepped up monthly
instalments commencing from April 2013. The loan is secured by First exclusive
charge on future credit card cash flows through escrow account mechanism;
Second pari passu charge on movable & immovable fixed asset of the
company and current asset of the company. All the above loans are further secured by
personal guarantee of promoter directors. b)
Hire
Purchase Loans amounts to Rs. 0.659 Millions (PY Rs. 1.934 Millions) are
secured by hypothecation of respective vehicles financed. The loan carries
interest ranging from 11% to 12.50% p.a. The loan is repayable in 36 to 60 equal
monthly instalments starting from the respective date of finance. SHORT
TERM BORROWINGS Cash Credit Loan: Rs.1580.330 Millions (PY Rs.1394.689
Millions) - Secured by hypothecation of stocks and book debts, the personal guarantee
of promoter directors and further collaterally secured by equitable mortgage
of office and factory premises (at Daman) of the Company carrying interest @
12.50% to 13.50% p.a. Packing Credit Loan and Foreign Bills
Purchased: Rs. 519.708 Millions (PY Rs. 620.529
Millions) – Secured by hypothecation of stocks and book debts of export
division and the personal guarantee of promoter directors and further
collaterally secured by equitable mortgage of office and factory premises (at
Daman) of the Company carrying interest @ 10% p.a. Others : Rs. 54.428 Millions (PY Rs. 66.091
Millions) - secured by lien of approved mutual funds carrying interest @
10.50% p.a. |
|
Auditors : |
|
|
Name : |
Ajay Shobha and Company Chartered Accountant |
|
Address : |
A-701, La Chappelle, Evershine Nagar, Malad West, Mumbai – 400064,
Maharashtra, India |
|
|
|
|
Memberships : |
-- |
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|
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|
Collaborators : |
-- |
|
|
|
|
Enterprises under significant influence : |
·
Acme Exports ·
Prozone Capital Shopping Centres Limited ·
Empire Mall Private Limited |
|
|
|
|
Subsidiaries - The Ownership, Directly or Indirectly through
Subsidiary/ Subsidiaries : |
·
Sporting and Outdoor Ad Agency Private Limited ·
Pronet Interactive Private limited ·
Millennium Accessories Limited ·
ProSFL Private Limited (Formerly known as Oasis
Fashions Limited) ·
Profab Fashions (India) Limited ·
Provogue Infrastructure Private Limited ·
Flowers, Plant and Fruits (India) Private Limited ·
Faridabad Festival City Private Limited ·
Acme Advertisements Private Limited ·
Brightland Developers Private Limited ·
Classique Creators Limited ·
Prozone Infrastructure Limited ·
Standard Mall Private Limited ·
Elite Team HK Limited ·
Provogue Holding Limited (Singapore) |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 114.357
Million
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
330,000,000 |
Equity Shares |
Rs. 1/- each |
Rs. 330.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
114,357,095 |
Equity Shares |
Rs. 1/- each |
Rs. 114.357
Million |
|
|
|
|
|
Reconciliation of
shares outstanding at the beginning and at the end of the period
|
Particulars |
As at 31.03.2014 |
|
|
Equity Shares |
No. in Lakhs |
Rs. In Million |
|
At the beginning of the period |
1,143.57 |
1,143.57 |
|
Reduction and
reorganization pursuant to The Scheme |
-- |
-- |
|
Outstanding at
the end of the period |
1,143.57 |
114.357 |
Terms/rights attached to equity shares
The Company has only one class of equity
shares having a par value of Rs. 1 per share. Each holder of equity share is entitled
to one vote per share. The company declares and pays dividends in Indian
rupees. The dividend proposed by the Board of Directors, if any, is subject to
the approval of the shareholders in the ensuing Annual General Meeting.
In the event of liquidation of the Company,
the holder 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 the shareholders.
Details of Shareholders holding more than 5% shares in the company:
|
Particulars |
As at 31.03.2014 |
|
|
|
No. in Lakhs |
% holding |
|
Nailsfield Limited |
114.15 |
9.98 |
|
Nikhil Chaturvedi |
106.12 |
9.28 |
|
Salil Chaturvedi |
102.95 |
9.00 |
|
Floro Mercantile Private Limited |
62.40 |
5.46 |
Other Information
(i) 29.00 lakhs Equity Shares (of Rs.10 each
fully paid) have been issued as preferential allotment at a premium of Rs. 440
per share in the financial year 2006-07.
(ii) 13.34 lakhs Equity Shares (of Rs. 10 each
fully paid) have been issued on conversion of the share warrants issued at Rs.
450 in the ratio of one share per warrant in the financial year 2007-08 and
2008-09
(iii) 28.50 lakhs Equity Shares (of Rs. 10 each
fully paid) have been issued as preferential allotment at a premium of Rs. 1090
per share in the financial year 2008-09
(iv) The Company has sub divided the equity
share of Rs. 10 each (fully paid up) into 5 (five) equity shares of Rs. 2 each
(fully paid up) based on the approval of the shareholders in the Annual General
Meeting held on 15th September 2008.
(v) 2.050 Million Equity Shares of Rs. 2 each
have been extinguished under Buy Back Scheme in the financial year 2009-10.
(vi) During the financial year 2011-12,
pursuant to The Scheme of Arrangement, 1143.57 lakhs Equity Shares of Rs. 2/-
each have been reduced to 1143.57 lakhs Equity Shares of Rs. 1/- each.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
114.357 |
114.357 |
114.357 |
|
(b) Reserves & Surplus |
4725.038 |
5505.895 |
5496.553 |
|
(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) |
4839.395 |
5620.252 |
5610.910 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
456.642 |
581.828 |
603.345 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
27.140 |
35.056 |
28.089 |
|
(d) long-term
provisions |
1.278 |
1.478 |
1.897 |
|
Total Non-current
Liabilities (3) |
485.060 |
618.362 |
633.331 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2148.609 |
2214.462 |
2149.733 |
|
(b) Trade
payables |
662.892 |
629.722 |
847.543 |
|
(c) Other
current liabilities |
142.276 |
74.464 |
76.104 |
|
(d) Short-term
provisions |
25.908 |
34.508 |
44.601 |
|
Total Current
Liabilities (4) |
2979.685 |
2953.156 |
3117.981 |
|
|
|
|
|
|
TOTAL |
8304.140 |
9191.770 |
9362.222 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
250.311 |
364.641 |
451.601 |
|
(ii)
Intangible Assets |
0.000 |
15.099 |
8.539 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1075.846 |
1078.338 |
1346.849 |
|
(c) Deferred tax assets (net) |
113.537 |
96.200 |
91.801 |
|
(d) Long-term Loan and Advances |
541.931 |
570.267 |
509.587 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1981.625 |
2124.545 |
2408.377 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
13.738 |
131.926 |
153.578 |
|
(b)
Inventories |
3806.687 |
3435.756 |
3241.772 |
|
(c) Trade
receivables |
2005.399 |
2553.495 |
2035.712 |
|
(d) Cash
and cash equivalents |
250.649 |
97.087 |
172.164 |
|
(e)
Short-term loans and advances |
141.041 |
949.491 |
1276.920 |
|
(f) Other
current assets |
105.001 |
99.470 |
73.699 |
|
Total
Current Assets |
6322.515 |
7267.225 |
6953.845 |
|
|
|
|
|
|
TOTAL |
8304.140 |
9391.770 |
9362.222 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5454.585 |
6143.603 |
5406.229 |
|
|
|
Other Income |
32.674 |
74.270 |
128.658 |
|
|
|
TOTAL (A) |
5487.259 |
6217.873 |
5534.887 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
4842.413 |
3849.394 |
2493.707 |
|
|
|
Purchase of Stock-in-Trade |
342.356 |
1076.470 |
1289.190 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(70.658) |
(217.666) |
9.412 |
|
|
|
Employees benefit expenses |
81.356 |
133.346 |
161.204 |
|
|
|
Other expenses |
674.235 |
728.150 |
854.386 |
|
|
|
Exceptional Items |
(104.283) |
184.293 |
3.211 |
|
|
|
TOTAL (B) |
5765.419 |
5753.987 |
4811.110 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
(278.160) |
463.886 |
723.777 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
388.652 |
370.106 |
355.724 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(666.812) |
93.780 |
368.053 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
84.193 |
82.927 |
109.683 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(751.005) |
10.853 |
258.370 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(5.424) |
1.423 |
129.427 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(745.581) |
9.430 |
128.943 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1546.483 |
1537.053 |
1421.401 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
NA |
0.000 |
11.436 |
|
|
|
Tax on Dividend |
NA |
0.000 |
1.855 |
|
|
BALANCE CARRIED
TO THE B/S |
800.902 |
1546.483 |
1537.053 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1941.897 |
2143.077 |
|
|
TOTAL EARNINGS |
NA |
1941.897 |
2143.077 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
0.000 |
0.000 |
|
|
|
Stores & Spares |
NA |
777.506 |
1072.167 |
|
|
|
Capital Goods |
NA |
0.000 |
0.850 |
|
|
TOTAL IMPORTS |
NA |
777.506 |
1073.017 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(6.52) |
0.08 |
1.12 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
48.409 |
55.821 |
|
Cash generated from operations |
NA |
(1395.302) |
487.721 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
(13.67) |
0.15 |
2.39 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
(5.10) |
7.55 |
13.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(10.56) |
0.14 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
0.00 |
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.54 |
0.50 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
2.39 |
2.23 |
STOCK
PRICES
|
Face Value |
Rs. 1.00/- |
|
Market Value |
Rs. 5.46/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
114.357 |
114.357 |
114.357 |
|
Reserves & Surplus |
5496.553 |
5505.895 |
4725.038 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5610.910 |
5620.252 |
4839.395 |
|
|
|
|
|
|
long-term borrowings |
603.345 |
581.828 |
456.642 |
|
Short term borrowings |
2149.733 |
2214.462 |
2148.609 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
2753.078 |
2796.290 |
2605.251 |
|
Debt/Equity
ratio |
0.491 |
0.498 |
0.538 |
%20LIMITED%20-%20330097_MIRA%2002-Jul-2015_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5406.229 |
6143.603 |
5454.585 |
|
|
|
13.639 |
(11.215) |
%20LIMITED%20-%20330097_MIRA%2002-Jul-2015_files/image024.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
5406.229 |
6143.603 |
5454.585 |
|
Profit |
128.943 |
9.430 |
(745.581) |
|
|
2.39% |
0.15% |
(13.67%) |
%20LIMITED%20-%20330097_MIRA%2002-Jul-2015_files/image026.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
--- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF BOMBAY |
||||
|
CASE DETAILS |
||||
|
BENCH:- BOMBAY |
||||
|
PRESENTATION DATE:- 03/06/2015 |
||||
|
LODGING NO:- CPL/529/2015 |
FAILING DATE:- 03/06/2015 |
|||
|
MAIN MATTER |
||||
|
PETITIONER:- |
KAMAL SUPERS LTD.- |
RESPONDENT:- |
PROVOGUE INDIA LTD.- CIN NO |
|
|
PETN.ADV:- |
MANSUKHLAL HIRALAL AND COMPANY |
RESP. ADV:- |
0(0) |
|
|
DISTRICT:- |
MUMBAI |
|||
|
BENCH:- |
SINGLE |
|||
|
STATUS:- |
PRE-ADMISSION |
CATEGORY:- |
COMPANY PETITION U/SEC 433,434,439 COMPANIES ACT |
|
|
LAST DATE:- |
02/07/2015 |
STAGE:- |
||
|
LAST CORAM:- |
HON’BLE SHRI JUSTICE S.C. GUPTE |
|||
|
ACT:- |
Companies Act and Rules 1956 |
|||
|
UNDER SECTION:- |
433, 434 and 439 |
|||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10500441 |
27/05/2014 |
50,000,000.00 |
ANDHRA BANK |
116 SAURABH,
ANDHERI-KURLA ROAD, ANDHERI (EAST), |
C05768296 |
|
2 |
10415018 |
28/06/2013 * |
650,000,000.00 |
BANK OF INDIA |
Star House, Plot
No. C-5, G-Block,, Bandra Kurla |
B79449385 |
|
3 |
80017409 |
28/06/2013 * |
2,495,000,000.00 |
ANDHRA BANK |
116 SAURABH, ANDHERI - KURLA ROAD, ANDHERI (EAST),
|
B80143431 |
|
4 |
80013146 |
12/10/2010 * |
1,845,000,000.00 |
ANDHRA BANK |
116 SAURABH, ANDHERI
- KURLA ROAD, ANDHERI (EAST) |
A9775959 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2015 (Rs.
in Millions) |
31.03.2014 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working capital loan from bank |
NA |
59.996 |
|
Total |
NA |
59.996 |
|
Note: Unsecured
: Rs. 59.996
Millions (PY Rs. 68.424 Millions) supplier’s bills discounting limit from
SIDBI carries interest rate @ 13% p.a. |
||
FIXED ASSETS
- Land
- Buildings
- Plant and
Machinery
- Office
Equipments
- Vehicles
- Computers
- Furniture and
Fixture
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. 63.82 |
|
UK Pound |
1 |
Rs. 99.89 |
|
Euro |
1 |
Rs. 70.77 |
INFORMATION DETAILS
|
Information Gathered
by : |
PPT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
4 |
|
--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 |
|
44 |
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.