MIRA INFORM REPORT
|
Report No. : |
326984 |
|
Report Date : |
12.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
KELTECH ENERGIES LIMITED |
|
|
|
|
Registered
Office : |
Embassy Icon, 7th Floor, No. 03, Infantry Road, Bangalore –
560001, Karnataka |
|
Tel. No.: |
91-80-22257900 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
30.08.1977 |
|
|
|
|
Com. Reg. No.: |
08-031660 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.999 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L30007KA1977PLC031660 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRK00229F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACK4702A |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Explosives, MMAN and perlite product. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject was established in the year 1977. It is a part of Goa Based
Chowgule Group. The company, headquarted is in Bangalore (Karnataka) and it is in the
business of manufacturing industrial explosives and expanded perlite. It is an established company having satisfactory track. Overall financial position of the company seems to be decent. The rating also takes into consideration the company’s long track
record in the explosive industry. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based BBB+ |
|
Rating Explanation |
Have degree of safety and carry moderate credit risk. |
|
Date |
March 2015 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
Management non cooperative (91-80-22254355)
LOCATIONS
|
Registered Office : |
Embassy Icon, 7th Floor, No. 03, Infantry Road, Bangalore –
560001, Karnataka, India |
|
Tel. No.: |
91-80-22257900 |
|
Fax No.: |
91-80-22253857 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Vishwasnagar - 574 108 Karkala Taluk Udupi District Karnataka, India Plot S-3 and S-4, Udyog Deep Industrial Area Waidhan - 486 886, Singrauli, Madhya Pradesh, India Khasara 381, 382 and 383, Jamudi Gram - 484 224, District Anuppur, Madhya Pradesh, India Plot No. B-24/2 and B-25/1, M.I.D.C. Industrial Area, Chandrapur - 442 406 Maharashtra, India Village Garamsur, P.O. Dudhala, Katol Tehsil, Nagpur- 441 103, Maharashtra, India Sy. No. 314/2, Samithi Singaram Village, Near P.K.O.C. Project Office Manuguru Mandal & Post-507 117, Khammam, Telangana, India No.363, Mustyala Village, P.O. Godavarikhani – 505 209, District Karimnagar, Telangana, India S.Y. No. 178/2, P.O. Hardi Bazaar-495 446, Hardi Murli Road, District Korba, Chattishgarh, India Akashnagar, Deposit 05 & 10, Bacheli (Bailadila) - 494 553, District Dantewada, Chattishgarh, India Sy.No.14/B, Donimalai (Narasingapura), Sandur Taluk, Bellary District, Karnataka - 583 118, India |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Ashok Vishwasrao Chowgule |
|
Designation : |
Chairman |
|
Address : |
Kanchenjunga, 26th Floor, DR. G. Deshmukh Marg, Mumbai –
400036, Maharashtra, India |
|
Date of Birth/Age : |
25.01.1948 |
|
Email : |
|
|
Date of Appointment : |
19.05.2000 |
|
PAN No.: |
ACAPC9634L |
|
Voter ID No.: |
ISD0392970 |
|
DIN No.: |
00018970 |
|
|
|
|
Name : |
Mr. Vijay Vishwasrao Chowgule |
|
Designation : |
Director |
|
Address : |
Baina, Vasco-Da-Gama, Goa – 403802, India |
|
Date of Birth/Age : |
22.08.1946 |
|
Email : |
|
|
Date of Appointment : |
15.04.1988 |
|
PAN No.: |
ABKPC3971F |
|
Voter ID No.: |
HJZ1618396 |
|
DIN No.: |
00018903 |
|
|
|
|
Name : |
Mr. Hemraj Chaturbhuj Asher |
|
Designation : |
Director |
|
Address : |
32, Mody Street, Mumbai – 400001, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1934 |
|
Email : |
|
|
Date of Appointment : |
16.12.1987 |
|
PAN No.: |
AACPA1285B |
|
Voter ID No.: |
IYV4550281 |
|
DIN No.: |
00024863 |
|
|
|
|
Name : |
Mr. Harish Jagtiani |
|
Designation : |
Director |
|
Address : |
31, Palace Orchards Apartments, 9th Main Road, R.M.V.
Extention, Bangalore – 560080, Karnataka, India |
|
Date of Birth/Age : |
13.08.1939 |
|
Email : |
|
|
Date of Appointment : |
14.10.2002 |
|
PAN No.: |
ABHPJ1587F |
|
Voter ID No.: |
KT/12/087/213422 |
|
DIN No.: |
00262572 |
|
|
|
|
Name : |
Mrs. Umaji Vishwasrao Chowgule |
|
Designation : |
Director |
|
Address : |
Regina Mundi Road, Airport Road, Vasco-Da-Gama, Chickalm – 403711,
Goa, India |
|
Date of Birth/Age : |
27.12.1953 |
|
Email : |
|
|
Date of Appointment : |
23.01.2009 |
|
PAN No.: |
ABKPC3970E |
|
DIN No.: |
00018993 |
|
|
|
|
Name : |
Mrs. Arati Saran |
|
Designation : |
Director |
|
Address : |
#3, Devonshire House, Westfield Estate, B. Desai Road, Mumbai –
400026, Maharashtra, India |
|
Date of Birth/Age : |
30.12.1956 |
|
Email : |
|
|
Date of Appointment : |
20.07.2012 |
|
PAN No.: |
ANVPS8966M |
|
Voter ID No.: |
MT/04/024/270598 |
|
DIN No.: |
01157284 |
|
|
|
|
Name : |
Mr. Santosh Laxmanrao Chowgule |
|
Designation : |
Managing Director |
|
Address : |
Flat No. 0007, Embassy EROS, No. 07, Ulsoor Road, Bangalore – 560042,
Karnataka, India |
|
Date of Birth/Age : |
11.07.1958 |
|
Email : |
|
|
Qualification : |
BA |
|
Experience : |
29 Years |
|
Date of Appointment : |
29.04.2004 |
|
PAN No.: |
ABKPL3990J |
|
DIN No.: |
00097736 |
|
|
|
|
Name : |
Mr. V. N. Pangal |
|
Designation : |
Director (Operation) |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2015
|
Category of
Shareholder |
Total No. of Shares |
% of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
32078 |
3.21 |
|
|
503541 |
50.35 |
|
|
20 |
0.00 |
|
|
20 |
0.00 |
|
|
535639 |
53.56 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
535639 |
53.56 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
1400 |
0.14 |
|
|
1400 |
0.14 |
|
|
|
|
|
|
43547 |
4.35 |
|
|
|
|
|
|
401150 |
40.12 |
|
|
18264 |
1.83 |
|
|
2092 |
0.21 |
|
|
16035 |
1.60 |
|
|
137 |
0.01 |
|
|
462961 |
46.30 |
|
Total Public shareholding (B) |
464361 |
46.44 |
|
Total (A)+(B) |
1000000 |
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) |
1000000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Explosives, MMAN and perlite product. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
Canara Bank |
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Facilities : |
|
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
Address : |
No.701, Leela, Business Park, Andheri Kurla Road, Andheri East, Mumbai – 400059, Maharashtra, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AAAFH2010F |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Enterprises over
which major Shareholder is able to exercise significant influence (As on
31.03.2014) : |
Angre Ports Private Limited (Formerly known as Jaigad Ports and Infrastructure Private Limited) |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.9.999
Million
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
1,000,000 |
Unclassfied Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
Total |
|
Rs. 20.000
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
999,900 |
Equity Shares |
Rs.10/- each |
Rs.9.999 Million |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
As on 31.03.2014 |
|
|
|
No. of Shares held |
Amount (Rs In Million) |
|
Shares outstanding at the beginning of the year |
1,000,000 |
9.999 |
|
Shares Issued during the year |
-- |
-- |
|
Shares bought back during the year |
-- |
-- |
|
Shares outstanding at the end of the year |
1,000,000 |
9.999 |
Details of
shareholders holding more than 5% shares in the Company
|
Name of Shareholder |
As on 31.03.2014 |
|
|
|
No. of Shares held |
% of Holding |
|
Chowgule & Co., Pvt Ltd |
40940 |
40.99 |
|
Dolphin Investment Ltd |
93601 |
9.36 |
|
Solar Industries India Ltd |
70658 |
7.07 |
As per of the Company, including its register of shareholders/members, the above shareholding represents legal ownership of shares.
Terms/rights attached
to equity shares
The company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividends in Indian rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
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 |
9.999 |
9.999 |
9.999 |
|
(b) Reserves & Surplus |
351.251 |
329.728 |
273.169 |
|
(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) |
361.250 |
339.727 |
283.168 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
82.186 |
126.387 |
85.096 |
|
(b) Deferred tax liabilities (Net) |
26.796 |
31.147 |
20.093 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
25.566 |
17.182 |
17.537 |
|
Total Non-current
Liabilities (3) |
134.548 |
174.716 |
122.726 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
50.105 |
34.659 |
43.644 |
|
(b) Trade
payables |
298.320 |
314.899 |
255.094 |
|
(c) Other
current liabilities |
117.136 |
110.190 |
101.786 |
|
(d) Short-term
provisions |
14.372 |
22.887 |
15.704 |
|
Total Current
Liabilities (4) |
479.933 |
482.635 |
416.228 |
|
|
|
|
|
|
TOTAL |
975.731 |
997.078 |
822.122 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
449.973 |
488.173 |
247.492 |
|
(ii) Intangible
Assets |
0.170 |
0.000 |
0.055 |
|
(iii)
Capital work-in-progress |
4.328 |
2.122 |
92.008 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.010 |
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
48.243 |
47.047 |
52.977 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
502.724 |
537.352 |
392.542 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
131.975 |
138.028 |
95.151 |
|
(c) Trade
receivables |
276.620 |
251.408 |
230.113 |
|
(d) Cash
and cash equivalents |
37.178 |
35.162 |
78.688 |
|
(e)
Short-term loans and advances |
27.045 |
34.537 |
19.481 |
|
(f) Other
current assets |
0.189 |
0.591 |
6.147 |
|
Total
Current Assets |
473.007 |
459.726 |
429.580 |
|
|
|
|
|
|
TOTAL |
975.731 |
997.078 |
822.122 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
1919.659 |
1545.314 |
1558.253 |
|
|
Other Income |
1.454 |
2.596 |
2.740 |
|
|
TOTAL
(A) |
1921.113 |
1547.910 |
1560.993 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
1313.666 |
981.548 |
951.917 |
|
|
Purchases of Stock-in-Trade |
70.143 |
66.652 |
42.610 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.030) |
(11.019) |
(2.805) |
|
|
Employees benefits expense |
113.593 |
88.957 |
77.514 |
|
|
Other expenses |
312.148 |
294.826 |
392.421 |
|
|
TOTAL
(B) |
1802.520 |
1420.964 |
1461.657 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION (C) |
118.593 |
126.946 |
99.336 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.828 |
20.553 |
19.286 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
90.765 |
106.393 |
80.050 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
37.904 |
17.243 |
13.714 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
52.861 |
89.150 |
66.336 |
|
|
|
|
|
|
|
Less |
TAX (H) |
18.668 |
29.666 |
23.268 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
34.193 |
59.484 |
43.068 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD (K) |
64.128 |
57.569 |
47.426 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General Reserve |
|
50.000 |
30.000 |
|
|
Dividend |
|
2.500 |
2.500 |
|
|
Tax on Dividend |
|
0.425 |
0.425 |
|
|
Total
(M) |
|
52.925 |
32.925 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
|
64.128 |
57.569 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
NA |
|
|
|
|
F.O.B. Value of Exports |
|
240.563 |
145.356 |
|
|
TOTAL
EARNINGS |
|
240.563 |
145.356 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
23.667 |
26.147 |
|
|
Capital Goods |
|
41.201 |
0.000 |
|
|
TOTAL
IMPORTS |
|
64.868 |
26.147 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
34.19 |
59.48 |
43.07 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
32.061 |
41.383 |
|
Cash generated from operations |
NA |
NA |
NA |
QUARTERLY RESULTS
|
PARTICULARS |
Sep 2014 1st Quarter |
Dec 2014 2nd Quarter |
Mar 2015 3rd Quarter |
|
Net Sales |
445.880 |
478.620 |
545.230 |
|
Total Expenditure |
406.280 |
460.240 |
522.330 |
|
PBIDT (Excl OI) |
39.600 |
18.380 |
22.900 |
|
Other Income |
0.260 |
0.600 |
0.330 |
|
Operating Profit |
39.860 |
18.980 |
23.230 |
|
Interest |
7.770 |
6.280 |
7.770 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
32.090 |
12.700 |
15.460 |
|
Depreciation |
10.320 |
7.730 |
9.590 |
|
Profit Before Tax |
21.770 |
4.970 |
5.870 |
|
Tax |
7.060 |
1.710 |
3.310 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
14.710 |
3.260 |
2.560 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
14.710 |
3.260 |
2.560 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.78 |
3.85 |
2.76 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
6.18 |
8.21 |
6.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.44 |
8.96 |
9.09 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.26 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.37 |
0.57 |
0.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.99 |
0.95 |
1.03 |
STOCK
PRICES
|
Face Value |
Rs.10 |
|
Market Value |
Rs.490 |
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 |
9.999 |
9.999 |
9.999 |
|
Reserves & Surplus |
273.169 |
329.728 |
351.251 |
|
Net
worth |
283.168 |
339.727 |
361.250 |
|
|
|
|
|
|
long-term borrowings |
85.096 |
126.387 |
82.186 |
|
Short term borrowings |
43.644 |
34.659 |
50.105 |
|
Total
borrowings |
170.123 |
193.107 |
132.291 |
|
Debt/Equity
ratio |
0.601 |
0.568 |
0.366 |
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 |
1558.253 |
1545.314 |
1919.659 |
|
|
|
(0.830) |
24.225 |
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 |
1558.253 |
1545.314 |
1919.659 |
|
Profit |
43.068 |
59.484 |
34.193 |
|
|
2.76% |
3.85% |
1.78% |
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 |
Yes |
|
12 |
Voter Id Card No. of Proprietor / Partners |
Yes |
|
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 |
No |
|
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 LOAN
|
PARTICULARS |
31.03.2015 (Rs.
in Million) |
31.03.2014 (Rs.
in Million) |
|
Long-term
Borrowings |
|
|
|
a) Deferred payment
liabilities |
|
|
|
(i) Sales tax deferment loans (Deferred sales tax loan is interest free and payable in 8 years starting from April 2010) |
NA |
7.011 |
|
(ii) Sales tax deferment loans (Deferred sales tax loan is interest free and payable in 7 years starting from April 2012) |
NA |
3.666 |
|
b) Loans and
Advances from Related Parties |
|
0 |
|
Chowgule and Co Private Limited (Bearing 11% interest, repayable in 5 years from January 2016 to January 2020) |
NA |
91.500 |
|
Total |
NA |
102.177 |
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT/ OPERATIONS REPORTS OF COMPANY’S PERFORMANCE:
OPERATIONS
(A) Explosives
Division
The sale of Explosives for the year was 34,026 MT valued at Rs. 1267.600 Million as against 35,183 MT valued at Rs. 1210.900 Million of the previous year. The Sales turnover on Explosives increased by 5% in value terms and decreased by 3.29% in quantity terms. During the year, the turnover in regard to traded goods, service contracts and export of finished goods in Explosives sector was Rs. 132.900 Million as against Rs. 255.200 Million for the corresponding period of the previous year, significantly lower since there were no new projects during the year.
The sale of Detonating Fuse and related products during the year was valued at Rs. 73.300 Million as against Rs. 67.800 Million for the corresponding period of the previous year.
(B) Perlite Division
The sale of Perlite and Perlite based products for the year were 7856 MT valued at Rs. 126.700 Million as against 5,980 MT valued at Rs. 93.500 Million for the corresponding period of the previous year, registering a growth of 31% in quantity and 36% in value. The turnover of service contracts during the year was Rs. 51.400 Million as against Rs. 678 Million for the corresponding period of the previous year.
The export of Perlite products during the year was valued at Rs. 41.300 Million as against nil for the corresponding period of the previous year.
(C) The operations for the year 2013-14 have resulted in a net profit of Rs. 59.500 Million after charging depreciation, interest and tax as against Rs. 43.100 Million for the corresponding period of the previous year.
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10445757 |
12/08/2013 |
5,750,000.00 |
CANARA BANK |
RETAIL ASSET HUB BRANCH, M G ROAD, BANGALORE, Karnataka - 560001,
INDIA |
B83423863 |
|
2 |
10339823 |
21/02/2012 |
777,000.00 |
CANARA BANK |
TOWN HALL BRANCH, NO.51 STOCK EXCHANGE TOWERS, BA |
B33972076 |
|
3 |
10190989 |
18/11/2009 |
721,500.00 |
CANARA BANK |
RETAIL ASSET HUB BRANCH, BANGLAORE, Karnataka - 560001, INDIA |
A74631458 |
|
4 |
80014798 |
09/05/2015 * |
615,265,000.00 |
CANARA BANK |
TOWN HALL BRANCH, STOCK EXCHANGE TOWERS, BANGALORE, Karnataka -
560027, INDIA |
C55015135 |
FIXED ASSETS
- Land
- Plant and equipment
- Office equipment
- Furniture and fixture
- Vehicle
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
|
1 |
Rs.98.89 |
|
Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RSM |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.