MIRA INFORM REPORT
|
Report No. : |
324596 |
|
Report Date : |
03.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
GUJARAT AMBUJA EXPORTS LIMITED |
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|
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Registered
Office : |
“Ambuja Tower”, Opposite Memnagar Fire Station, Navrangpura, Post Navjivan,
Ahmedabad – 380014, Gujarat |
|
Tel. No.: |
91-79-26423316 (5 Lines)/ 26405535 (5 Lines) |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
21.08.1991 |
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Com. Reg. No.: |
04-016151 |
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Capital
Investment / Paid-up Capital : |
Rs. 276.704 Millions |
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IEC No.: |
Not Available |
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CIN No.: [Company Identification
No.] |
L15140GJ1991PLC016151 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMG00194F |
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PAN No.: [Permanent Account No.] |
AAACG3980A |
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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 mainly engaged in three segment: i) agro processing
for solvent extraction and oil refining (mainly soyabean). ii) maize
processing through corn wet milling for manufacturing of unmodified starch
and other down |
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|
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
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 23000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a well-established company having fine track record. Rating takes into consideration wide experience of the promoters in
various agro processing business marked by long operational track record,
established market position and diversified revenue profile supported by a
wide product portfolio. Rating also takes into consideration company’s healthy financial risk
profile backed by adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. In view of decent business profile, 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term Bank Facilities = A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
26.02.2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Debt
/ Commercial Paper = A1+ |
|
Rating Explanation |
Very strong degree of safety and carry lowest credit risk. |
|
Date |
26.02.2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under:
|
Borrowers’ Name : |
GUJARAT AMBUJA EXPORTS LIMITED |
|
Address : |
Ambuja Tower, Opposite Memnagar
Fire Station, Navrangpura, Post Navjivan, Ahmedabad – 380014, Gujarat, India |
|
Name of Individual : |
· Mr. Jagdish Sharan Varshney · Manish Kumar Gupta · P.G. Makhija · Sulochana Gupta · Vijay Kumar Gupta |
|
Name of Credit Grantors / Bank & Branch: |
Indusind Bank Limited |
|
Amount (Rs. In Millions) : |
Rs. 78.700 Million |
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED BY
|
Name : |
Mr. N. Giridhar |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-79-26423316 |
|
Tel. No.: |
26.05.2015 |
LOCATIONS
|
Registered Office / Corporate Office: |
“Ambuja Tower”, Opposite Memnagar Fire Station, Navrangpura, Post
Navjivan, Ahmedabad – 380014, Gujarat, India |
|
Tel. No.: |
91-79-26423316 (5 Lines)/ 26405535 (5 Lines) |
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Fax No.: |
91-79-26423079 |
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E-Mail : |
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Website : |
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FACTORIES: |
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Cotton Yarn
Division/ Maize Processing Unit : |
1, Vrindavan Road, Village Dalpur, Taluka Prantij District Sabarkantha, Gujarat, India |
|
Tel. No.: |
91-2772-226252-54 |
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Fax No.: |
91-2772-226250 |
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E-Mail : |
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Maize Processing
Unit : |
C-50, Eldeco Sidcul Industrial Park, Sitargang, District Udhamsingh Nagar – 263153, Uttranchal, India |
|
Tel. No.: |
91-5948-260564 |
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E-Mail : |
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Soya Processing /
Edible Oil / Vanaspati Ghee / Cattle Feed / Flour Mill Unit: |
Kadi-Thore Road, Mehsana, Kadi – 382715, Gujarat, India |
|
Tel. No.: |
91-2764-264013/ 14/ 15/ 16 |
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Fax No.: |
91-2764-264012 |
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E-Mail : |
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Soya Processing /
Atta Chakki Unit : |
Plot No. : 414-417, Sector-III, Pithampur Industrial Area, District Dhar, Madhya Pradesh, India |
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Tel. No.: |
91-7292-256790/ 256264 |
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Fax No.: |
91-7292-256199 |
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E-Mail : |
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Soya Processing /
Edible Oil Unit : |
Village Post : Kanheri, Gawali, N.H.No.6, Akola-Balapur Road,
Taluka Balapur, |
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Tel. No.: |
91-7257-285026/ 285027 |
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Fax No.: |
91-7257-285025 |
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E-Mail: |
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Soya Processing / Edible Oil Unit : |
Village Sondhani
Mhow - Neemuch Road, Sondhani, District Mandsaur – 458001, Madhya Pradesh,
India |
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Tel. No.: |
91-7422-285237/ 285238 |
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E-Mail: |
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Maize Processing Unit : |
Madli Cross P.B. Road, 37 km from Hubli Towards Bangalore Haveri, Shiggoan - 581205, Karnataka, India |
|
Tel. No.: |
91-836-2382432 |
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Fax No.: |
91-836-2382433 |
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E-Mail: |
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Power Division I – Wind Mills |
· B-87, R S No. 471/P, Village Lamba, Taluka Kalyanpur, District Jamnagar, Gujarat, India · WTG No. 1,Machine No.1, Survey No. 400, Village Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India · WTG No. 2, Machine No.2, Survey No. 400, Village Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India · WTG No. 3, Machine No. 6, Survey No. 400, Village Kuranga, Taluka Dwarka, District Jamnagar, Gujarat, India · Survey No.213/2, Village Satapar, Taluka Kalyanpur, District Jamnagar, Gujarat, India · WTG No.1, V-4, Survey No. 43/1/P Village Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India · WTG No.2, V-7, Survey No. 36/2/P, Village Motisindhodi, Taluka Abdasa, District Kutch, Gujarat, India · Survey No. 115/P, Village Mindiyali, Taluka Anjar, District Kutch, Gujarat, India |
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II – Power Plant
(11 MW Cogeneration Plant) : |
Located at · Himmatnagar · Shiggaon |
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III – Biogas Power
Plants : |
Located at · Himmatnagar · Sitarganj · Shiggaon |
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Branch Offices : |
Located
At: · Mumbai · New Delhi · Indore · Akola ·
Vietnam |
DIRECTORS
As on: 31.03.2014
|
Name : |
Mr. Vijay Kumar Gupta |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
65 years |
|
Qualification : |
B. DS |
|
Experience : |
42 Years |
|
Date of Appointment : |
18.04.1988 |
|
|
|
|
Name : |
Mr. Manish V. Gupta |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
42 years |
|
Qualification : |
B.Com |
|
Experience : |
23 years |
|
Date of Appointment : |
28.12.1998 |
|
|
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|
Name : |
Mr. Mohit V. Gupta |
|
Designation : |
Joint Managing Director |
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Date of Birth/Age : |
20.11.1981 |
|
Qualification : |
B. Com., Diploma in IBM, HRM, FBM and Diploma in computer Information
Systems |
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|
|
|
Name : |
Mr. Sandeep N. Agrawal, |
|
Designation : |
Whole Time Director |
|
Date of Birth/Age : |
12.12.1971 |
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Qualification : |
Commerce Graduate and MBA. |
|
Experience : |
More than 21 Years |
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|
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|
Name : |
Mrs. Sulochana V. Gupta |
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Designation : |
Non-Executive Director |
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Date of Birth/Age : |
01.11.1953 |
|
Experience : |
36 Years |
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|
Name : |
Mr. Sudhin B. Choksey |
|
Designation : |
Independent Director |
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|
Name : |
Mr. Chaitan M. Maniar |
|
Designation : |
Independent Director |
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Date of Birth/Age : |
04.12.1935 |
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Qualification : |
B. Com. LLB, MA |
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|
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|
Name : |
Mr. Prakash G. Ramrakhiani |
|
Designation : |
Independent Director |
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Date of Birth/Age : |
25.11.1940 |
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Qualification : |
B.A. [Hons], M.A. [Eco], IAS |
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|
|
|
Name : |
Mr. Ashok C. Gandhi |
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Designation : |
Independent Director |
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Date of Birth/Age : |
04.12.1939 |
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Qualification : |
B. Com. LLB and Advocate |
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Experience : |
More than 42 years in the legal profession. |
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|
Name : |
Mr. Rohit J. Patel |
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Designation : |
Independent Director |
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Date of Birth/Age : |
22.02.1946 |
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Qualification : |
B. E. [Electrical] |
KEY EXECUTIVES
|
Name : |
Mr. N. Giridhar |
|
Designation : |
Chief Financial Officer |
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|
Name : |
Mr. Manan C. Bhavsar |
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Designation : |
Company Secretary |
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|
Name : |
Dr. K.R. Chandratra |
|
Designation : |
Practising Company Secretary, Pune |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
Total No. of
Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
99564393 |
71.96 |
|
|
99564393 |
71.96 |
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|
Total shareholding of Promoter and Promoter Group (A) |
99564393 |
71.96 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
67095 |
0.05 |
|
|
23752 |
0.02 |
|
|
26278 |
0.02 |
|
|
117125 |
0.08 |
|
|
|
|
|
|
3425726 |
2.48 |
|
|
|
|
|
|
30629164 |
22.14 |
|
|
3829582 |
2.77 |
|
|
785885 |
0.57 |
|
|
13050 |
0.01 |
|
|
770335 |
0.56 |
|
|
2500 |
0.00 |
|
|
38670357 |
27.95 |
|
Total Public shareholding (B) |
38787482 |
28.04 |
|
Total (A)+(B) |
138351875 |
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) |
138351875 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of Agro Processing,
Cotton Yarn, Maize Processing and Windmills Power Generation. |
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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 |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
· Bank of India · State Bank of India · Union Bank of India · HDFC Bank Limited · State Bank of Mysore ·
Yes Bank Limited |
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Facilities : |
NOTE SHORT TERM
BORROWINGS Working Capital
and Short term loan from banks is secured by a hypothecation of current
assets and certain tangible movable plant and machinery and joint equitable
mortgage of certain immovable fixed assets of the Company, personal guarantee
of three promoter directors and lien on certain Fixed Deposits of the
company. |
|
Auditors : |
|
|
Name : |
Kantilal Patel
and Company (A member firm of PrimeGlobal, USA). Chartered Accountants |
|
Address : |
2nd Floor, |
|
Tel. No.: |
91-79-27551333/ 27552333 |
|
Mobile No.: |
91-79-27550538 |
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E-Mail : |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Wholly Owned
Subsidiary (31.03.2014) : |
Gujarat Ambuja International Pte. Limited, Singapore |
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Enterprise significantly influenced by Key Managerial Persons (31.03.2014) : |
· SMAS Investors LLP · Jay Infrastructure and Properties LLP |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000000 |
Equity Shares |
Rs. 2/- each |
Rs.500.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
138351875 |
Equity Shares |
Rs. 2/- each |
Rs.276.700
Million |
|
|
|
|
|
a. Reconciliation of the Shares Outstanding at the Beginning and at the
end of the Reporting Period
|
Equity shares |
31.03.2014 |
|
|
|
No. of Share |
Rs. in Million |
|
Outstanding at the beginning of the period |
138351875 |
276.704 |
|
Outstanding at the end of the period. |
138351875 |
276.704 |
b. Terms/rights
attached to Equity Shares
i) The company has
only one class of equity shares carrying par value of Rs.2 per share, carrying
equal rights as to dividend, voting and in all other respects.
ii) During the
year ended 31st March 2014, the amount of per share dividend recognized as distribution
to equity shareholders was Rs.0.70 (31st March 2012: Rs.0.80).
c. During the period
from 01.04.2007 to 31.03.2014, in the year 2007-08 company bought back 966615
equity shares out of 139318490 equity shares as per the Board resolution passed
by the company at its Board Meeting held on 16th January 2007.
d. Details of
shareholders holding more than 5% shares in the company.
|
Equity shares of
Rs. 2 each fully paid |
31.03.2014 |
|
|
Name of the Shareholders |
No. of Shares
Held |
% Holding in the
class |
|
Vijay Kumar Gupta |
28023083 |
20.25 |
|
Manish V. Gupta |
37583861 |
27.17 |
|
Mohit V. Gupta |
22447442 |
16.23 |
|
Shilpa M. Gupta |
7023253 |
5.08 |
As per of the
company, including its register of shareholders/members and other declarations
received from shareholders regarding beneficial interest, the above
shareholding represents legal ownerships of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
276.704 |
276.700 |
276.700 |
|
(b) Reserves & Surplus |
7982.339 |
7273.700 |
6270.400 |
|
(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) |
8259.043 |
7550.400 |
6547.100 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
249.074 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
550.805 |
519.900 |
583.500 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
36.163 |
17.400 |
6.800 |
|
Total Non-current
Liabilities (3) |
836.042 |
537.300 |
590.300 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2781.633 |
4014.700 |
1831.600 |
|
(b) Trade
payables |
628.423 |
670.900 |
2691.200 |
|
(c) Other
current liabilities |
278.423 |
266.600 |
309.300 |
|
(d) Short-term
provisions |
45.422 |
62.000 |
50.800 |
|
Total Current
Liabilities (4) |
3733.901 |
5014.200 |
4882.900 |
|
|
|
|
|
|
TOTAL |
12828.986 |
13101.900 |
12020.300 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
5417.026 |
4781.000 |
4564.800 |
|
(ii)
Intangible Assets |
10.924 |
12.400 |
14.700 |
|
(iii)
Capital work-in-progress |
629.440 |
635.800 |
381.200 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
424.385 |
417.200 |
446.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
343.500 |
380.100 |
264.800 |
|
(e) Other
Non-current assets |
2.361 |
3.700 |
4.500 |
|
Total Non-Current
Assets |
6827.636 |
6230.200 |
5676.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
100.000 |
0.000 |
0.000 |
|
(b)
Inventories |
4436.871 |
4972.900 |
4571.200 |
|
(c) Trade
receivables |
1080.673 |
1496.000 |
1088.000 |
|
(d) Cash
and cash equivalents |
55.887 |
57.800 |
324.200 |
|
(e)
Short-term loans and advances |
290.882 |
298.300 |
275.700 |
|
(f) Other
current assets |
37.037 |
46.700 |
85.200 |
|
Total
Current Assets |
6001.350 |
6871.700 |
6344.300 |
|
|
|
|
|
|
TOTAL |
12828.986 |
13101.900 |
12020.300 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue From Operations (Net) |
25312.968 |
30918.084 |
30046.200 |
|
|
|
Other Income |
90.374 |
100.868 |
94.500 |
|
|
|
TOTAL |
25403.342 |
31018.952 |
30140.700 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
16813.358 |
23665.290 |
2069100 |
|
|
|
Purchases of Stock-in-Trade |
2164.396 |
1902.311 |
4113.400 |
|
|
|
Exchange Fluctuation |
50.168 |
175.063 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
851.272 |
(830.156) |
(49.800) |
|
|
|
Employees benefits expense |
762.034 |
721.957 |
645.200 |
|
|
|
Other expenses |
3024.844 |
3334.157 |
2700.700 |
|
|
|
TOTAL |
23666.072 |
28968.622 |
28100.500 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
1737.270 |
2050.330 |
2040.200 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
149.952 |
206.473 |
217.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1587.318 |
1843.857 |
1823.200 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
609.745 |
474.126 |
366.800 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
977.573 |
1369.731 |
1456.400 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
135.836 |
253.106 |
322.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
841.737 |
1116.625 |
1133.500 |
|
|
` |
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
5255.125 |
4371.800 |
3486.700 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
N.A |
96.800 |
110.600 |
|
|
|
Dividend Distribution Tax On Interim Dividend |
N.A |
16.500 |
17.800 |
|
|
|
Transfer To General Reserve |
N.A |
120.000 |
120.000 |
|
|
BALANCE CARRIED
TO THE B/S |
6096.862 |
5255.125 |
4371.800 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export Sales |
N.A |
6068.800 |
7791.300 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
N.A |
1464.700 |
6689.300 |
|
|
|
Stores and Components |
N.A |
18.900 |
14.100 |
|
|
|
Capital Goods |
N.A |
192.000 |
53.700 |
|
|
TOTAL IMPORTS |
N.A |
1675.600 |
6757.100 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.08 |
8.07 |
8.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
|
|
|
|
Net Profit Margin |
(%) |
3.33 |
3.61 |
3.77 |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
6.86 |
6.63 |
6.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.30 |
11.37 |
13.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.18 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37 |
0.53 |
0.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61 |
1.37 |
1.30 |
STOCK
PRICES
|
Face Value |
Rs.2.00 |
|
Market Value |
Rs. 36.75 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
276.700 |
276.704 |
276.704 |
|
Reserves & Surplus |
6270.400 |
7273.726 |
7982.339 |
|
Net
worth |
6547.100 |
7550.430 |
8259.043 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
249.074 |
|
Short term borrowings |
1831.600 |
4014.674 |
2781.633 |
|
Total
borrowings |
1831.600 |
4014.674 |
3030.707 |
|
Debt/Equity
ratio |
0.280 |
0.532 |
0.367 |
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 |
30046.200 |
30918.084 |
25312.968 |
|
|
|
2.902 |
(18.129) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
21140.900 |
30046.200 |
30918.100 |
|
Profit |
497.000 |
1133.500 |
1116.600 |
|
|
2.35% |
3.77% |
3.61% |
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 |
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 |
No |
|
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 GUJARAT
STAMP NUMBER No. 34 of 2013 To STAMP NUMBER No. 39 of 2013
|
Status : PENDING |
CCIN No :
001087201300034 |
|
||||
|
S.NO. |
Name of the Petitioner |
Advocate On Record |
||
|
1 |
COMMISSIONER OF INCOME TAX II |
MRS MAUNA M BHATT for: Petitioner (s) -1 |
||
|
S.NO. |
Name of the Respondant |
Advocate On Record |
|||
|
1 |
GUJARAT AMBUJA EXPORTS LTD |
||||
|
Presented On |
: 07/01/2013 |
Registered On |
: 07/01/2013 |
||
|
Bench Category |
: DIVISION BENCH |
District |
: AHMEDABAD |
||
|
Case Originated From |
: THROUGH HIS/HER/THEIR ADVOCATE |
Listed |
: 0 times |
||
|
StageName |
: ADMISSION (FRESH MATTERS) |
||||
|
Classification |
|
|
Act |
|
Other Forums
|
|
S.No. |
CASEDETAILS |
TRIBUNAL REFERRENCE |
ORDER PASSED BY |
JUDGEMENT DATE |
PLACE |
|
1 |
ITA/202/AHD/1999 |
INCOME TAX APPELLATE TRIBUNAL AHMEDABAD A
BENCH |
JUDICIAL MEMBER
AND ACCOUNTANT MEMBER |
20/07/2012 |
AHMEDABAD |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10506595 |
23/06/2014 |
400,000,000.00 |
HDFC BANK LIMITED |
HDFC HOUSE, NR. MITHAKHALI SIX ROADS,
NAVRANGPURA,, AHMEDABAD, GUJARAT - 380009, INDIA |
C09659657 |
|
2 |
10086124 |
06/05/2013 * |
10,810,600,000.00 |
BOI CONSORTIUM - BOI LEAD + UBI + SBM +
HDFC BK + SBI + YES BK |
AHMEDABAD LARGE CORPORATE BRANCH, 2ND
FLOOR BOI BUILDING BHADRA, AHMEDABAD, GUJARAT - 380001, INDIA |
B76179225 |
* Date of charge modification
UNSECURED LOAN
|
Particular |
31.03.2015 (Rs.
In Millions) |
31.03.2014 (Rs.
In Millions) |
|
Short term
Borrowing |
|
|
|
Short term loan from Banks |
N.A |
75.500 |
|
|
|
|
|
Total |
N.A |
75.500 |
As on 31.03.2014
COMPANY INFORMATION
Subject is Agro Processing conglomerate with various manufacturing
plants at different locations in states of Gujarat, Maharashtra, Madhya
Pradesh, Uttarakhand and Karnataka. The Group’s product profile includes
Solvent Extraction comprising of all types of Oil Seed processing, Edible Oil
Refining, Cotton Yarn Spinning, Maize based Starch and its derivatives, Wheat
Processing, Cattle Feed and Power Generation through Wind Mills, Bio gas and
Thermal Power Plants. The Company’s shares are listed with BSE and NSE.
The company has also setup a wholly-owned subsidiary at Singapore to
focus on international trading activities.
OPERATIONAL
PERFORMANCE:
The company recorded operational revenue of Rs. 30918.100 Million as compared to Rs. 300046.200 Million during the previous financial year. The various profit parameters have significant growth during the year. The company achieved EBIDTA margin of 6.81% in FY 2013-14 against the same at the level of 6.77% in FY 2012-13.
Export sales for the year 2013-14 was Rs. 6261.100 Million as compared to Rs. 7860.400 Million for the year 2012-13 mainly due to surge in the domestic market in respect of Agro processing segment products. The company achieved Earnings before Interest, Depreciation and Tax (EBIDTA) of Rs. 2050.300 Million for the year 2013-14 against that of Rs.2040.200 Million for the year 2012-13.
The cash Profit before tax, Profit after and EPS for the year remained at Rs 1843.800 Million, Rs. 1116.800 Millions and Rs. 8.07 per share respectively.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
|
(a) Claims against the Company /disputed liabilities not acknowledged as debts |
61.600 |
|
(b) Disputed Statutory Claims |
|
|
i) Excise, Customs, Service Tax and DGFT |
74.300 |
|
ii) Income Tax |
|
|
a) Appeals preferred by Company |
7.600 |
|
b) Appeals preferred by Department |
6.200 |
|
iii) Sales Tax , VAT, Entry Tax and Mandi Tax |
17.200 |
|
iv) Others |
15.800 |
|
TOTAL |
182.700 |
FIXED ASSETS:
Tangible Assets
·
Freehold Land
·
Leasehold Land
·
Buildings
·
Windmills
·
Plant and Equipments
·
Office Equipments
·
Computers
·
Furniture and Fixtures
·
Vehicles
Intangible Assets
· Brands / Trademarks
·
Technical know how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.83 |
|
|
1 |
Rs.98.10 |
|
Euro |
1 |
Rs.69.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
PPT |
|
|
|
|
Analysis Done by
: |
NYA |
|
|
|
|
Report Prepared
by : |
RKI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
62 |
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.