MIRA INFORM REPORT
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Report No. : |
329492 |
|
Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
NEO CORP INTERNATIONAL LIMITED |
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|
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Registered
Office : |
220, Mahavir Industrial Area, Off. Mahakali Caves Road, Andheri (East), Mumbai - 400093, Maharashtra |
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Tel. No.: |
91-22-26879510 |
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Country : |
India |
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Financials (as
on) : |
31.03.2015 |
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Date of
Incorporation : |
15.02.1985 |
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|
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Com. Reg. No.: |
11-223220 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 380.222
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24132MH1985PLC223220 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
Manufacturer and Trader of Technical Textiles and also has Polymer
Division in which consignment stockiest and Del Cedar Agency of Indian Oil
Corporation Limited and also set up Windmill for Power Generation. |
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|
|
|
No. of Employees
: |
Not Divulged |
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 |
|
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. Rating takes into consideration healthy financial risk profile marked by
strong liquidity position supported by healthy networth base, stable gearing
and acceptable net profit margin. However, rating also takes into consideration, high working capital
intensive nature of business operations and volatility in raw material prices. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In the view of subject established brand presence and extensive
experience of promoters, the subject can be considered 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term rating = CARE BBB- (Suspended) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
March 31, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term rating = CARE A3+ (Suspended) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
March 31, 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-COOPERATIVE
(CONTACT NO.: 91-7292-410400/ 410443)
LOCATIONS
|
Registered Office : |
220, Mahavir Industrial Area, Off. Mahakali Caves Road, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-26879510 |
|
Fax No.: |
91-22-26879510 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
‘Trivedi Chambers’, 2 Maharani Road, Indore – 452007, Madhya Pradesh, India |
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Tel. No.: |
91-731-4211900 |
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Fax No.: |
91-731-4211944 |
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E-Mail : |
|
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|
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Factory 1 : |
Plot # 62-63, Industrial Area, Sector 1, Pithampur, District Dhar – 454775, Madhya Pradesh, India |
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Tel. No.: |
91-7292-410400 |
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Fax No.: |
91-7292-420499 |
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E-Mail : |
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|
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Factory 2 : |
TECHTEXTIL (100%
EOU) (A Division of
NCIL) Plot # 64A, Industrial Area, Sector 1, Pithampur, District Dhar – 454775, Madhya Pradesh, India |
|
|
|
|
Factory 3 : |
GEOTECH WORLDWIDE (A Division of
NCIL) Plot # A12 and A13, SEZ II, Sector 3, (Apparel and Pharma Park), Pithampur, District Dhar – 454775, Madhya Pradesh, India |
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Regional Marketing
Offices : |
Located at: · New Delhi · Kolkata · Mumbai · Ahmedabad · Patna · Nagpur · Mangalore |
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International
Offices : |
Located at: · London · USA · Hong Kong · New York · Uruguay |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Sunil Kumar Trivedi |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Utkarsh Trivedi |
|
Designation : |
Executive Director |
|
Date of Birth/Age : |
24.04.1988 |
|
Qualification : |
BA honours in Business Studies from De Montfort University, Leicester, England and Diploma in Family Business Management from S.P. Jain Institute of Management and Research, Mumbai. |
|
Experience : |
Around 5 years of experience in the field of administration and management. |
|
Date of Appointment : |
22.04.2013 |
|
|
|
|
Name : |
Mr. Pradhuman Sharma |
|
Designation : |
Whole-time Director |
|
|
|
|
Name : |
Mr. Shrawan Kumar Patodi |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
19.07.1941 |
|
Qualification : |
B. Com, M.A., LLB and D.H.B |
|
Experience : |
An eminent lawyer having vast experience in the field of law. Experience of 10 years as Export Executive. |
|
Date of Appointment : |
01.09.2005 |
|
|
|
|
Name : |
Mrs. Shobha Dubey |
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Designation : |
Independent Director |
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Date of Birth/Age : |
19.11.1953 |
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Qualification : |
B.A. LLB. |
|
Experience : |
A vast experience in the legal arena. She has served as a Member Judge in Consumer Forum for a decade. |
|
Date of Appointment : |
01.09.2012 |
|
|
|
|
Name : |
Mr. Ladharam Patel |
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Designation : |
Independent Director |
|
Date of Birth/Age : |
28.05.1946 |
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Qualification : |
B. Com |
|
Experience : |
40 years of experience in the business of manufacture and trading of marbles and timber. |
|
Date of Appointment : |
08.07.2007 |
|
|
|
|
Name : |
Mr. Rolland Coderre |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
16.01.1937 |
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Qualification : |
Degree in Business Administration and business accounts and finance. |
|
Experience : |
An entrepreneur from Canada having experience in vast number of fields like packaging construction. |
|
Date of Appointment : |
30.06.2009 |
KEY EXECUTIVES
|
Name : |
Ms. Swati Gangrade |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Ms. Vaishali Jain |
|
Designation : |
Asst. CS and Compliance Officer
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Audit/ Nomination and Remuneration/ Stakeholders Relationship
Committee : |
· Shrawan Kumar Patodi · Swati Gangrade · Ladharam Patel · Shobha Dubey |
|
|
|
|
CSR Committee : |
· Sunil Trivedi · Swati Gangrade · Shobha Dubey · Shrawan Kumar Patodi |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of Shareholder |
Total No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
6727553 |
17.69 |
|
|
2439573 |
6.42 |
|
|
9167126 |
24.11 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
9167126 |
24.11 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
5600 |
0.01 |
|
|
200 |
0.00 |
|
|
500 |
0.00 |
|
|
6300 |
0.02 |
|
|
|
|
|
|
12369969 |
32.53 |
|
|
|
|
|
|
5735085 |
15.08 |
|
|
9937430 |
26.14 |
|
|
806288 |
2.12 |
|
|
745546 |
1.96 |
|
|
60742 |
0.16 |
|
|
28848772 |
75.87 |
|
Total Public shareholding (B) |
28855072 |
75.89 |
|
Total (A)+(B) |
38022198 |
100.00 |
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
38022198 |
100.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Sl. No. |
Name of the Shareholders |
Details of Shares held |
|
|
No. of Shares held |
As a % |
||
|
1 |
Sunil Kumar Trivedi |
16,39,679 |
4.31 |
|
2 |
Nandita Trivedi |
14,17,556 |
3.73 |
|
3 |
Panam Packers Private Limited |
12,46,497 |
3.28 |
|
4 |
Sanjay Trivedi |
10,51,000 |
2.76 |
|
5 |
Bhadrabala Trivedi |
9,47,776 |
2.49 |
|
6 |
Utkarsh Trivedi |
8,58,337 |
2.26 |
|
7 |
Vishwakarma Creations Private Limited |
5,55,000 |
1.46 |
|
8 |
Olympian Investors & Traders Private
Limited |
4,40,115 |
1.16 |
|
9 |
Kailash Chandra Trivedi |
2,86,300 |
0.75 |
|
10 |
Sanjay Trivedi |
2,50,000 |
0.66 |
|
11 |
Neo Flex Ltd |
1,78,034 |
0.47 |
|
12 |
Nandita Trivedi |
1,74,500 |
0.46 |
|
13 |
Aniruddh Sharma |
99,500 |
0.26 |
|
14 |
Vishwakarma Creations Private Limited |
19,927 |
0.05 |
|
15 |
Rani Sharma |
2,600 |
0.01 |
|
16 |
Pradhuman Sharma |
200 |
0.00 |
|
17 |
Anirudh Sharma |
105 |
0.00 |
|
Total |
91,67,126 |
24.11 |
|
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the
Shareholders |
No. of Shares held |
Shares as % |
|
|
1 |
VLS Finance Limited |
2968409 |
7.81 |
|
|
2 |
VRR Financial Services Private Limited |
1409002 |
3.71 |
|
|
3 |
Somesh Mehrotra |
1000508 |
2.63 |
|
|
4 |
Overall Financial Consultants Private
Limited |
961915 |
2.53 |
|
|
5 |
Jas Polysack Private Limited |
951617 |
2.50 |
|
|
6 |
Zenith Netals Private Limited |
924412 |
2.43 |
|
|
7 |
Emperor Impex Private Limited |
801650 |
2.11 |
|
|
8 |
Fraternity Plastofab Private Limited |
756455 |
1.99 |
|
|
9 |
Inertia Impex Private Limited |
530000 |
1.39 |
|
|
Total |
10303968 |
27.10 |
Shareholding of
securities (including shares, warrants, convertible securities) of persons
(together with PAC) belonging to the category “Public” and holding more than 5%
of the total number of shares of the company
|
Sl. No. |
Name(s) of the
shareholder(s) and the Persons Acting in Concert (PAC) with them |
No. of Shares |
Shares as % |
|
|
1 |
VLS Finance Ltd |
2968409 |
7.81 |
|
|
Total |
2968409 |
7.81 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Technical Textiles and also has Polymer
Division in which consignment stockiest and Del Cedar Agency of Indian Oil
Corporation Limited and also set up Windmill for Power Generation. |
|
|
|
|
Brand Names : |
· Suraksha · Pronet · Mansarovar · Bandhan · Neocon |
|
|
|
|
Agencies Held : |
-- |
|
|
|
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Exports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Imports : |
|
|
Products : |
Not Divulged |
|
Countries : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
· State Bank of India · IDBI Bank Limited · Punjab National Bank · State Bank of Bikaner and Jaipur · State Bank of Travancore · Union Bank of India |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.P. Garg and Company Chartered Accountants |
|
Address : |
“Vastu Bhawav”, 1st Floor, 71, Dhar Kothi, Indore – 452001,
Madhya Pradesh, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary Companies : |
· Euro Plast Limited · Sacos Indigo Private Limited · Neoflex Infracon Limited · Polybase (HK) Limited · Poly Logic International Private Limited · Prism Flexible Solutions Private Limited |
|
|
|
|
Associate Companies : |
· Panam Packers Private Limited · Synergy Education International Private Limited · Vishwkarma Creations Private Limited ·
Olympain Investors and Traders Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
69000000 |
Equity Shares |
Rs. 10/- each |
Rs. 690.000 Million |
|
1000000 |
Cum. Compulsorily Convertible Preference Shares |
Rs. 10/- each |
Rs. 10.000 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 700.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38022198 |
Equity Shares |
Rs. 10/- each |
Rs. 380.222
Million |
|
|
|
|
|
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 |
380.200 |
380.222 |
380.222 |
|
(b) Reserves & Surplus |
2479.200 |
2184.751 |
1974.224 |
|
(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) |
2859.400 |
2564.973 |
2354.446 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
1076.600 |
722.880 |
593.655 |
|
(b) Deferred tax liabilities (Net) |
106.300 |
97.700 |
92.946 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
9.800 |
9.177 |
7.899 |
|
Total
Non-current Liabilities (3) |
1192.700 |
829.757 |
694.500 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1353.700 |
1404.826 |
971.402 |
|
(b)
Trade payables |
1746.300 |
974.076 |
748.292 |
|
(c)
Other current liabilities |
647.300 |
452.554 |
391.107 |
|
(d)
Short-term provisions |
70.800 |
111.738 |
76.929 |
|
Total
Current Liabilities (4) |
3818.100 |
2943.194 |
2187.730 |
|
|
|
|
|
|
TOTAL |
7870.200 |
6337.924 |
5236.676 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1564.000 |
1333.391 |
795.664 |
|
(ii)
Intangible Assets |
0.000 |
7.463 |
8.453 |
|
(iii)
Capital work-in-progress |
0.000 |
278.069 |
541.935 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.650 |
|
(b) Non-current
Investments |
877.700 |
608.753 |
592.821 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
525.500 |
379.990 |
562.929 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
31.154 |
|
Total
Non-Current Assets |
2967.200 |
2607.666 |
2533.606 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
3077.100 |
2320.165 |
1297.019 |
|
(c)
Trade receivables |
1055.700 |
527.123 |
764.642 |
|
(d)
Cash and cash equivalents |
237.700 |
412.071 |
123.960 |
|
(e)
Short-term loans and advances |
134.700 |
110.172 |
127.356 |
|
(f)
Other current assets |
397.800 |
360.727 |
390.093 |
|
Total
Current Assets |
4903.000 |
3730.258 |
2703.070 |
|
|
|
|
|
|
TOTAL |
7870.200 |
6337.924 |
5236.676 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
7382.800 |
5922.461 |
4242.331 |
|
|
|
Other Income |
56.300 |
74.162 |
58.768 |
|
|
|
TOTAL |
7439.100 |
5996.623 |
4301.099 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
6827.600 |
5335.764 |
3725.853 |
|
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
1.348 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(892.700) |
(597.399) |
(384.978) |
|
|
|
Employees benefits expense |
238.200 |
182.022 |
164.424 |
|
|
|
Other expenses |
397.700 |
371.546 |
223.177 |
|
|
|
TOTAL |
6570.800 |
5291.933 |
3729.824 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
868.300 |
704.690 |
571.275 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
438.500 |
283.295 |
222.535 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
429.800 |
421.395 |
348.740 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
80.800 |
76.881 |
47.970 |
|
|
|
|
|
|
|
|
|
|
EXTRAORDINARY
ITEMS |
0.000 |
0.000 |
78.238 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
349.000 |
344.514 |
222.532 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
46.900 |
147.255 |
64.227 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
302.100 |
197.259 |
158.305 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings (FOB Value) |
NA |
1425.518 |
1008.475 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
322.392 |
107.204 |
|
|
|
Stores |
|
0.000 |
0.592 |
|
|
|
Capital Goods |
|
288.460 |
54.365 |
|
|
TOTAL IMPORTS |
NA
|
610.852 |
162.161 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.95 |
5.19 |
4.00 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
148.334 |
151.646 |
|
|
|
|
|
|
Cash Generated from Operations |
NA |
206.858 |
428.037 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
30.09.2014 |
31.12.2014 |
31.03.2015 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
4th
Quarter |
|
Net Sales |
1449.200 |
1913.100 |
1946.400 |
5492.800 |
|
Total Expenditure |
1279.600 |
1697.800 |
1741.500 |
4829.300 |
|
PBIDT (Excl OI) |
169.600 |
215.300 |
204.900 |
663.500 |
|
Other Income |
0.000 |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
169.600 |
215.300 |
204.900 |
663.500 |
|
Interest |
59.300 |
65.200 |
97.400 |
341.000 |
|
Exceptional Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
PBDT |
110.300 |
150.100 |
107.500 |
322.500 |
|
Depreciation |
20.000 |
20.100 |
25.100 |
55.700 |
|
Profit Before Tax |
90.300 |
130.000 |
82.400 |
266.800 |
|
Tax |
26.100 |
42.000 |
1.300 |
45.800 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
64.200 |
88.000 |
81.100 |
221.000 |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
0.000 |
|
Net Profit |
64.200 |
88.000 |
81.100 |
221.000 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
4.09 |
3.33 |
3.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
11.76 |
11.90 |
13.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.99 |
6.32 |
5.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.12 |
0.13 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.85 |
0.89 |
0.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.28 |
1.27 |
1.24 |
Total Liability = Short-term Debt + Long-term Debt + Current Maturities of
Long-term debts
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
|
|
|
Market Value |
Rs. 27.80/- |
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 |
380.222 |
380.222 |
380.200 |
|
Reserves & Surplus |
1974.224 |
2184.751 |
2479.200 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
2354.446 |
2564.973 |
2859.400 |
|
|
|
|
|
|
Long-term borrowings |
593.655 |
722.880 |
1076.600 |
|
Short term borrowings |
971.402 |
1404.826 |
1353.700 |
|
Total
borrowings |
1716.703 |
2276.040 |
2430.300 |
|
Debt/Equity ratio |
0.729 |
0.887 |
0.850 |
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 |
4242.331 |
5922.461 |
7382.800 |
|
|
|
39.604 |
24.658 |
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 |
4242.331 |
5922.461 |
7382.800 |
|
Profit |
158.305 |
197.259 |
302.100 |
|
|
3.73% |
3.33% |
4.09% |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10550971 |
27/01/2015 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
SITALA MATA BAZAR BRANCH, INDORE, MADHYA
PRADESH - |
C44060663 |
|
2 |
10546185 |
15/01/2015 |
96,500,000.00 |
IDBI BANK LIMITED |
47 OPUS CENTRE, GROUND FLOOR, CENTRAL ROAD,
OPP. TUNGA PARADISE HOTEL, MIDC, ANDHERI EAST, MUMBAI, MAHARASHTRA - 400093,
INDIA |
C41845405 |
|
3 |
10537833 |
23/12/2014 |
65,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 'THE ARCADE', 2ND FLOOR,
WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - |
C37595550 |
|
4 |
10536388 |
19/09/2014 |
900,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE BRANCH, SIYAGANJ, INDORE,
MADHYA PR |
C36836120 |
|
5 |
10495482 |
28/03/2014 |
95,000,000.00 |
STATE BANK OF TRAVANCORE |
STATE BANK OF TRAVANCORE, 20/2 SOUTH
TUKOGANJ, PALASIA, INDORE, MADHYA PRADESH - 452001, INDIA |
C03560323 |
|
6 |
10496038 |
28/03/2014 |
134,000,000.00 |
STATE BANK OF TRAVANCORE |
STATE BANK OF TRAVANCORE, 20/2 SOUTH
TUKOGANJ, PALASIA, INDORE, MADHYA PRADESH - 452001, INDIA |
C03383676 |
|
7 |
10529282 |
22/03/2014 |
240,000,000.00 |
UNION BANK OF INDIA |
MID CORPORATE BRANCH,2ND FLOOR,, APEEJAY
SURENDRA |
C32374878 |
|
8 |
10488289 |
04/03/2014 |
4,500,000.00 |
PUNJAB NATIONAL BANK |
PUNJAB NATIONAL BANK, INDORE, MADHYA
PRADESH - 452001, INDIA |
C02541209 |
|
9 |
10485728 |
28/02/2014 |
250,000,000.00 |
PUNJAB NATIONAL BANK |
SITALA MATA BAZAR BRANCH, INDORE, MADHYA
PRADESH - |
C00787812 |
|
10 |
10464888 |
11/12/2013 |
150,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE ARCADE, 2ND FLOOR,,
WORLD TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
B91340950 |
|
11 |
10461514 |
18/11/2013 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE BRANCH, SIYAGANJ, INDORE,
MADHYA PRADESH - 452001, INDIA |
B90044603 |
|
12 |
10445433 |
14/01/2015 * |
40,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE ARCADE, 2ND FLOOR,
WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
C41961442 |
|
13 |
10438423 |
04/06/2013 |
68,500,000.00 |
PUNJAB NATIONAL BANK |
SITALA MATA BAZAR BRANCH, INDORE, MADHYA
PRADESH - |
B80079999 |
|
14 |
10407807 |
01/03/2013 |
22,000,000.00 |
IDBI BANK LIMITED |
47 OPUS CENTRE, GROUND FLOOR, CENTRAL ROAD,
OPP. TUNGA PARADISE HOTEL, MIDC, ANDHERI EAST, MUMBAI, MAHARASHTRA - 400093,
INDIA |
B69539476 |
|
15 |
10410947 |
16/02/2013 |
64,500,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KANTI MANSION, SANYOGITAGANJ BRANCH,
INDORE, MADHYA PRADESH - 452003, INDIA |
B70484449 |
|
16 |
10397544 |
16/01/2013 |
39,500,000.00 |
STATE BANK OF TRAVANCORE |
GREAT BALAJI HOUSE, 20/2 SOUTH TUKOGANJ,
PALASIA, |
B66084286 |
|
17 |
10353768 |
24/03/2012 |
100,000,000.00 |
PUNJAB NATIONAL BANK |
SITALA MATA BAZAR BRANCH, INDORE, MADHYA
PRADESH - |
B38948766 |
|
18 |
10353651 |
13/03/2012 |
2,100,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
KANTI MANSION, SANYOGITAGANJ BRANCH,
INDORE, MADHYA PRADESH - 452003, INDIA |
B38910303 |
|
19 |
10342709 |
25/01/2012 |
50,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, WORLD TRADE CENTRE, CUFFE
PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B35232347 |
|
20 |
10320085 |
17/11/2011 |
100,000,000.00 |
IDBI BANK LIMITED |
47 OPUS CENTRE, GROUND FLOOR,CENTRAL ROAD,
OPP. TUNGA PARADISE HOTEL, MIDC, ANDHERI EAST, MUMBAI, MAHARASHTRA - 400093,
INDIA |
B26262766 |
|
21 |
10296848 |
22/05/2012 * |
58,100,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 2ND FLOOR, THE ARCADE,
WORLD TRA |
B43734110 |
|
22 |
10214537 |
31/03/2010 |
230,000,000.00 |
STATE BANK OF INDORE (ASSOCIATE OF STATE BANK
OF I |
INDUSTRIAL FINANCE BRANCH, KHEL PRASHAL,
INDORE, |
A84023936 |
|
23 |
10217277 |
09/09/2011 * |
110,000,000.00 |
SBI GLOBAL FACTORS LIMITED |
6TH FLOOR, METROPOLITAN BUILDING, BANDRA-KURLA,
COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B20602777 |
|
24 |
10200663 |
25/05/2011 * |
746,100,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE ARCADE, WORLD TRADE
CENTRE, |
B16774580 |
|
25 |
10192937 |
14/12/2009 |
112,000,000.00 |
STATE BANK OF INDORE |
INDUSTRIAL FINANCE BRANCH, RACE COURSE
ROAD, INDORE, MADHYA PRADESH - 452001, INDIA |
A75828863 |
|
26 |
10166322 |
15/06/2009 |
150,000,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, 2ND FLOOR,, THE ARCADE
WORLD TRADE CENTRE, CUFFE PARADE,, MUMBAI, MAHARASHTRA - 400004, INDIA |
A65238644 |
|
27 |
10095839 |
06/09/2012 * |
859,200,000.00 |
STATE BANK OF INDIA |
2ND FLOOR, ARCHADE BUILDING, WORLD TRADE
CENTRE, |
B60480613 |
|
28 |
90203254 |
28/04/2015 * |
2,626,200,000.00 |
STATE BANK OF INDIA |
OVERSEAS BRANCH, THE ARCADE, 2ND FLOOR, WORLD
TRADE CENTRE, CUFFE PARADE, COLABA, MUMBAI, MAHARASHTRA - 400005, INDIA |
C51734226 |
|
29 |
90207868 |
25/09/1996 |
130,500,000.00 |
STATE BANK OF NDORE |
KHEL PRASHAL, KANTI MENSION; SNYOGITAGANJ,
INDOR, |
- |
|
30 |
90201296 |
11/03/1997 * |
3,000,000.00 |
MADHYA PRADESH FINANCIAL CORPORATION
FINANCE HOUSE |
FINANCE HOUSE, BOMBAY AGRA ROAD, INDOR,
MADHYA PRADESH, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Hire purchase against hypothecations of vehicles |
11.402 |
9.610 |
|
Less: Installment of Term Loan payable in next one year |
4.833 |
5.020 |
|
From Corporate Bodies |
0.000 |
88.759 |
|
SHORT TERM BORROWINGS |
|
|
|
From Directors |
2.947 |
0.780 |
|
From Corporate Bodies |
245.048 |
0.000 |
|
|
|
|
|
Total |
254.564 |
94.129 |
COMPANYS OUTLOOK (AS ON 31.03.2014)
The technical textile business is one of the most promising and faster growing areas for global and Indian textile industry. NCIL has planned for systematic and continuous addition of several products under various technical textile segments. The object behind the same is to provide holistic solution to customer. For example geogrids, geonet and geo membrane shall make basket of geosynthetics complete. With consistent modernization and expansion with machinery of latest technology, it is expected that the Company will be able to improve efficiency and successfully face global competition and will be one of the leading players in the domestic as well as international markets.
As a strategy, they always wanted to be one-stop shop for all woven packaging needs of their customers. To this end, they have developed ourselves as a multi-product, multi-location and multi-market company serving to the needs of their customers. They also propose to further invest in forward and backward integration.
The company’s growth graph with respect to the financials showed a steep upward trend on account of diversification into the value added Packtech products likes FIBCRs for packaging of food products; leno bags and additions of Agrotech products
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Letters of Credit opened |
0.000 |
0.000 |
|
Bank Guarantee issued by Banks |
36.633 |
36.893 |
|
Corporate Guarantee (Issued for subsidiary Sacos Indigo Private
Limited) |
1407.000 |
1107.400 |
|
Income Tax demands to the extent disputed in appeals |
2.116 |
2.116 |
|
Commercial Tax demands to the extent disputed in appeals |
16.923 |
16.923 |
|
Excise and Customs due to various show cause notices issued by the authorities
is disputed by the company. The company is hopeful of getting the matter
settled in its favour. |
7.843 |
11.719 |
FIXED ASSETS:
· Land and Site Development
· Plant and Machinery
· Building
· Electric Installation
· Office Equipments
· Vehicle
· Fire Extinguisher
· Furniture and Fixture
· Weighing Scale
· Computer
· Windmill
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. 63.60 |
|
|
1 |
Rs. 100.09 |
|
Euro |
1 |
Rs. 71.23 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--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 |
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 |
YES |
|
--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.