MIRA INFORM REPORT
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Report No. : |
331890 |
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Report Date : |
11.07.2015 |
IDENTIFICATION DETAILS
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Name : |
RUSHIL DÉCOR LIMITED |
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Formerly Known
As : |
RUSHIL DÉCOR PRIVATE LIMITED |
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Registered
Office : |
S. No. 125, Near Kalyanpura Patia Village Itla,
Gandhinagar Mansa Road, Taluka Kalol, Village Itla – 382845, Gujarat |
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Tel No.: |
91-79-26634346 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
24.05.1993 |
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Com. Reg. No.: |
04-019532 |
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Capital
Investment / Paid-up Capital : |
Rs.144.000 Million |
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CIN No.: [Company Identification
No.] |
L25209GJ1993PLC019532 |
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IEC No.: |
0893008401 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMR01041F |
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PAN No.: [Permanent Account No.] |
AABCR3005N |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufactures and markets decorative laminates, particle boards, and medium density fiber boards. |
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No. of Employees
: |
532 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has incurred loss from its operations during the FY 2015.
However, general financial position of the company seems to be decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. 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.
ECGC Country Risk Classification List – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CARE |
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Rating |
Long term bank facilities: BBB- |
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Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
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Date |
07.07.2014 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities: A3 |
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Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
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Date |
07.07.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2013.
INFORMATION DECLINED
MANAGEMENT NON CO-OPERATIVE (91-79-26622323)
LOCATIONS
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Registered Office/ Factory 1 (Unit - RHPL)/: |
S. No. 125, Near |
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Tel. No.: |
91-79-26634346 |
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Fax No.: |
91-79-26640969 |
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E-Mail : |
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Website : |
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Corporate Office 1 : |
2, |
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Corporate Office 2 : |
1, Krinkal Apartment, Opposite Mahalaxmi Mandir, Near Mahalaxmi
Char Rasta Paldi, Ahmedabad - 380007, |
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Tel. No.: |
91-79-26640970/ 26651346/ 26622323 |
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Fax No. : |
91-79-26640969 |
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Factory 2 (Unit –
RDL) : |
608, GIDC, Mansa, District Gandhinagar, Gujarat, India |
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Tel. No.: |
91-2763-270395 |
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Fax No.: |
91-2763-270695 |
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Factory 3 (Unit
–MRPL) : |
At Dholakuva Patia, Gandhinagar Mansa Road, Mansa, District Gandhinagar, Gujarat, India |
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Tel. No.: |
91-2763-271695 |
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Factory 4 (Unit –Navalgadh) : |
Particle Board
Division: S. No. 270, at Village Navalgadh, Taluka Dhrangadhra, District Surendranagar, Gujarat, India |
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Tel. No.: |
91-2754-293100 |
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Factory 5 (Unit –Karnataka) : |
MDF Board Division: Plot No. 58, 59 and 60P, Amble Industrial Estate, Village Amble, Taluka and District Chikmagalur, Karnataka, India |
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Domestic Network : |
Located at · Ahmedabad · Amritsar · Bangalore · Bhuvneshwar · Chandigarh · Chennai · Delhi · Goa · Hyderabad · Indore · Jaipur · Kolkata · Kanpur · Lucknow · Ludhiana · Mumbai · Mansa · Nagpur · Nashik · Patna · Pune · Rajkot · Raipur · Ranchi · Surat · Vadodara |
DIRECTORS
As on 31.03.2014
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Name : |
Mr. Ghanshyambhai A. Thakkar |
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Designation : |
Chairman and Whole time Director |
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Address: |
4, Pushpadhanva Bunglows, Premchand Nagar Road, Satellite, Ahmedabad - 380 015, Gujarat, India |
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Date of Birth/Age : |
18.11.1943 |
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Qualification : |
B.Sc. Diploma in Civil Engineering |
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Date of Appointment : |
08.03.2007 |
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Name : |
Mr. Krupesh Ghanshyambhai Thakkar |
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Designation : |
Managing Director |
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Address : |
4, Pushpadhanva Bunglows, Premchand Nagar Road, Satellite, Ahmedabad - 380 015, Gujarat, India |
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Date of Birth/Age : |
21.10.1970 |
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Qualification : |
B.Com. |
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Date of Appointment : |
24.05.1993 |
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Name : |
Mr. Kaushikbhai J. Thakkar |
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Designation : |
Executive Director |
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Date of Birth/ Age : |
27.03.1958 |
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Qualification : |
Higher Secondary |
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Date of Appointment : |
30.03.2013 |
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Name : |
Mr. Rohitbhai B. Thakkar |
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Designation : |
Independent Director |
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Date of Birth/ Age : |
11.04.1955 |
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Qualification : |
Under Graduate |
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Date of Appointment : |
30.03.2013 |
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Name : |
Mr. Harshadbhai N Doshi |
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Designation : |
Independent Director |
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Address : |
Navneet Bunglow, Near Bank of India Society, Commerce College, Navrangpura, Ahmedabad – 380009, Gujarat, India |
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Date of Birth/ Age : |
31.10.1942 |
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Date of Appointment : |
01.12.2007 |
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Name : |
Mr. Shankar Prasad Bhagat |
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Designation : |
Independent Director |
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Address : |
B-9, Goyal Plaza, Jadges Bunglow Road, Ahmedabad – 380015, Gujarat, India |
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Date of Birth/Age : |
11.10.1974 |
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Date of Appointment : |
13.10.2007 |
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Name : |
Miss. Jingle P. Thakkar |
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Designation : |
Additional Director (w.e.f. 7th August, 2014) |
KEY EXECUTIVES
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Name : |
Mr. Hasmukh K. Modi |
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Designation : |
Company Secretary and Compliance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding
as a % of Total No. of Shares |
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(A) Shareholding of Promoter and Promoter Group |
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6205964 |
43.10 |
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1845770 |
12.82 |
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1845770 |
12.82 |
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8051734 |
55.91 |
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Total shareholding of Promoter and Promoter Group (A) |
8051734 |
55.91 |
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(B) Public Shareholding |
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|
978500 |
6.80 |
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|
978500 |
6.80 |
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2940509 |
20.42 |
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|
455164 |
3.16 |
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1749257 |
12.15 |
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224836 |
1.56 |
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219150 |
1.52 |
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|
5686 |
0.04 |
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5369766 |
37.29 |
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Total Public shareholding (B) |
6348266 |
44.09 |
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Total (A)+(B) |
14400000 |
100.00 |
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(C) Shares held by Custodians and against which Depository Receipts
have been issued |
0 |
0.00 |
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|
0 |
0.00 |
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0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
14400000 |
0.00 |
BUSINESS DETAILS
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Line of Business : |
Manufactures and markets decorative laminates, particle boards, and medium density fiber boards. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
532 (Approximately) |
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Bankers : |
· Bank of Baroda, Kalol Branch, N. G. Road, Kalol, Gujarat, India
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Facilities : |
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Banking Relations
: |
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Auditors : |
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Name : |
Parikh and Majmudar Chartered Accountants |
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Address : |
303, GCP Business Centre, Opposite Memnagar Fire Station, Near Vijay Cross Road, Navrangpura, Ahmedabad – 380009, Gujarat, India |
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Associate Companies/ Enterprise (AS ON 31.03.2014): |
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CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.144.000 Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
14400000 |
Equity Shares |
Rs.10/- each |
Rs.144.000 Million |
NOTE:
(1) Reconciliation
of the shares outstanding at the beginning and at the end of the reporting year
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Particulars |
In numbers |
31.03.2014 (Rs. In Million) |
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At the beginning of period |
14400000 |
144.000 |
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Issued vide Initial Public Offer |
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|
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Outstanding at the end of year |
14400000 |
144.000 |
2) Details of
shares held by each shareholder holding more than 5% shares:
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Particulars |
31.03.2014 |
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Numbers of Shares held |
% holding in the class of shares |
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Ghanshyambhai Ambalal Thakkar |
025950 |
14.07 |
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Krupesh Ghanshyambhai Thakkar and Ghanshyambhai Ambalal Thakkar Repre. Rushil International (Partnership Firm) |
1845770 |
12.82 |
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Krupesh Ghanshyambhai Thakkar |
1542484 |
10.71 |
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Krupesh G. Thakkar Karta of Krupesh Ghanshyambhai Thakkar (HUF) |
1389693 |
9.65 |
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
144.000 |
144.000 |
144.000 |
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(b) Reserves & Surplus |
596.260 |
604.631 |
574.281 |
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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) |
740.260 |
748.631 |
718.281 |
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(3) Non-Current Liabilities |
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(a) long-term borrowings |
562.965 |
762.135 |
683.782 |
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(b) Deferred tax liabilities
(Net) |
140.437 |
108.015 |
86.838 |
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(c) Other long term
liabilities |
41.555 |
59.114 |
57.127 |
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(d) long-term provisions |
5.660 |
6.139 |
4.171 |
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Total
Non-current Liabilities (3) |
750.617 |
935.403 |
831.918 |
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(4) Current Liabilities |
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(a) Short term borrowings |
432.495 |
513.458 |
430.046 |
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(b) Trade payables |
493.634 |
547.004 |
485.064 |
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(c) Other current liabilities |
195.589 |
213.526 |
166.072 |
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(d) Short-term provisions |
6.792 |
6.557 |
14.691 |
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Total
Current Liabilities (4) |
1128.510 |
1280.545 |
1095.873 |
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|
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TOTAL |
2619.387 |
2964.579 |
2646.072 |
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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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|
|
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(i) Tangible assets |
|
1545.280 |
1485.695 |
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(ii) Intangible Assets |
|
0.561 |
0.538 |
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(iii) Capital work-in-progress |
|
4.949 |
3.962 |
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(iv) Intangible assets under
development |
|
0.000 |
0.000 |
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(b) Non-current Investments |
0.067 |
0.087 |
0.087 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
43.293 |
53.402 |
30.898 |
|
(e) Other Non-current assets |
42.975 |
34.716 |
17.617 |
|
Total
Non-Current Assets |
1453.703 |
1638.995 |
1538.797 |
|
|
|
|
|
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(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
563.217 |
653.203 |
502.557 |
|
(c) Trade receivables |
435.410 |
421.120 |
391.901 |
|
(d) Cash and cash equivalents |
68.906 |
55.900 |
46.995 |
|
(e) Short-term loans and
advances |
98.151 |
195.361 |
165.822 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1165.684 |
1325.584 |
1107.275 |
|
|
|
|
|
|
TOTAL |
2619.387 |
2964.579 |
2646.072 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
2756.559 |
2556.723 |
1820.252 |
|
|
Other Income |
24.271 |
16.264 |
14.807 |
|
|
TOTAL
(A) |
2780.830 |
2572.987 |
1835.059 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1689.385 |
1635.348 |
1156.466 |
|
|
Purchases of Stock-in-Trade |
70.936 |
16.662 |
8.604 |
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
0.564 |
(65.837) |
(34.488) |
|
|
Employees benefits expense |
157.179 |
144.579 |
94.142 |
|
|
Manufacturing and Other
expenses |
555.822 |
546.389 |
361.196 |
|
|
Prior period items |
0.000 |
0.000 |
0.000 |
|
|
TOTAL
(B) |
2473.886 |
2277.141 |
1585.920 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
306.944 |
295.846 |
249.139 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
143.456 |
154.264 |
111.666 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
163.488 |
141.582 |
137.473 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
69.233 |
76.286 |
51.240 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
94.255 |
65.296 |
86.233 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
100.709 |
35.131 |
45.973 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(6.454) |
30.165 |
40.260 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
161.696 |
129.804 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend on Equity Shares
(including tax on dividends) |
NA |
0.000 |
8.368 |
|
|
Tax on Proposed Dividend |
NA |
0.000 |
0.000 |
|
|
Balance
Carried to the B/S |
NA |
191.861 |
161.696 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
840.437 |
855.230 |
|
|
TOTAL
EARNINGS |
NA |
840.437 |
855.230 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
395.828 |
329.071 |
|
|
Capital Goods |
NA |
10.700 |
18.519 |
|
|
TOTAL
IMPORTS |
NA |
406.528 |
347.590 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.45) |
2.09 |
2.80 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
162.275 |
152.633 |
|
Cash generated from operations |
NA |
140.934 |
139.307 |
|
Net cash flows from (used in) operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
PAT / Total Income |
(%) |
(0.23) |
1.18 |
2.21 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
11.14 |
11.57 |
13.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.60 |
2.21 |
3.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.09 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.34 |
1.92 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
1.04 |
1.01 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.70.40/- |
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 |
144.000 |
144.000 |
144.000 |
|
Reserves & Surplus |
574.281 |
604.631 |
596.260 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
718.281 |
748.631 |
740.260 |
|
|
|
|
|
|
long-term borrowings |
683.782 |
762.135 |
562.965 |
|
Short term borrowings |
430.046 |
513.458 |
432.495 |
|
Total
borrowings |
1113.828 |
1275.593 |
995.460 |
|
Debt/Equity
ratio |
1.551 |
1.704 |
1.345 |
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 |
1820.252 |
2556.723 |
2756.559 |
|
|
|
40.460 |
7.816 |
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 |
1820.252 |
2556.723 |
2756.559 |
|
Profit |
40.260 |
30.165 |
-6.454 |
|
|
2.21% |
1.18% |
-0.23% |
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 |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS
|
Particulars |
31.03.2015 |
31.03.2014 |
|
|
(Rs. In Million) |
|
|
Long Term
Borrowings |
|
|
|
Unsecured Loans from related parties |
|
|
|
From Directors and related parties |
NA |
13.194 |
|
|
|
|
|
Total |
NA |
13.194 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10118640 |
22/11/2012 * |
125,000,000.00 |
ALLAHABAD BANK |
S P NAGAR BRANCH, 'ACME
CENTRE', SHRIMALI SOCIETY, NR. NAVRANGPURA RAILWAY CROSSING, NAVRANGPURA,, |
B65248387 |
|
2 |
10090484 |
21/09/2013 * |
1,434,800,000.00 |
BANK OF BARODA |
KALOL (N.G.) BRANCH, KALOL, GUJARAT - 382721, INDIA |
B85364115 |
|
3 |
10090486 |
21/09/2013 * |
1,434,800,000.00 |
BANK OF BARODA |
KALOL BRANCH, KALOL, GUJARAT - 382721, INDIA |
B85364388 |
* Date of charge modification
CONTINGENT
LIABILITIES: (RS. IN MILLION)
|
Particulars |
31.03.2015 |
31.03.2014 |
|
Outstanding Letter of Credit |
|
6.029 |
|
Disputed Income Tax Demand - Matter under Appeal |
|
1.257 |
|
There is a case u/s.92 of the Factories Act,1948 as well as u/s. 304A of the Indian Penal Code for accidents at Chikmagalur, Medium density fiber board manufacturing plant. The case is at additional Civil Judge, Senior Division, Chikmagalur. The matter is pending for decision by court. |
|
0.100 |
|
There is a case of the Factories Act,1948 for accidents at Navalgadh, Particle board manufacturing plant. The case is at Judicial Magistrate (first class) court,Dhrangadhra. The matter is pending for decision by court. |
|
0.100 |
|
Theft of Cash |
NA |
0.100 |
FIXED ASSETS
Tangible assets
- Land
- Leasehold Land
- Building
- Plant and Machinery
- Computer and Accessaries
- Vehicles
- 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,
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.63.38 |
|
|
1 |
Rs.97.65 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
0 |
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.