MIRA INFORM REPORT
|
Report No. : |
312147 |
|
Report Date : |
16.03.2015 |
IDENTIFICATION DETAILS
|
Name : |
RUCHI STRIPS AND
ALLOYS LIMITED |
|
|
|
|
Registered
Office : |
611, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
18.06.1987 |
|
|
|
|
Com. Reg. No.: |
11-142326 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.500.128 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L27100MH1987PLC142326 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Subject is engaged only in trading activities of various products
including steel and agro commodities. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company moderate financial risk profile marked by
some dip in the turnover and a loss incurred by the company during FY 2014. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered
for business dealings with some caution. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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 |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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 DENIED
Management non co-operative
LOCATIONS
|
Registered Office : |
611, Tulsiani Chambers, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
Not Available |
DIRECTORS
As on : 31.03.2014
|
Name : |
Mr. Kailash Chandra Shahra |
|
Designation : |
Chairman Cum Managing Director |
|
|
|
|
Name : |
Mr. Umesh Shahra |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Arvind Mishra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Ashok Khasgiwala |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Navin Khandelwal |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manish Jain |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vijay Kumar Mahajan |
|
Designation : |
Director |
|
|
|
|
Name : |
Ms. Puneet Bedi |
|
Designation : |
Additional Director |
|
|
|
|
Name : |
Ms. Ishita Khandewal |
|
Designation : |
Additional Director |
|
|
|
|
Name : |
Mr. Veer Kumar Jain |
|
Designation : |
Director (Upto 13th August, 2014) |
KEY EXECUTIVES
|
Name : |
Deepak Upadhyay |
|
Designation : |
Company Secretary (w.e.f. – 29.05.2014) |
|
|
|
|
Name : |
Ravi Deshmukh |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 31.12.2014
|
Category of Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of Total No. of Shares |
|
|
|
|
|
(A) Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
1305000 |
2.61 |
|
|
12830502 |
25.66 |
|
|
14135502 |
28.27 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
14135502 |
28.27 |
|
(B) Public Shareholding |
||
|
|
|
|
|
|
79500 |
0.16 |
|
|
400 |
0.00 |
|
|
79900 |
0.16 |
|
|
|
|
|
|
24935963 |
49.88 |
|
|
|
|
|
|
5792578 |
11.59 |
|
|
5051008 |
10.10 |
|
|
750 |
0.00 |
|
|
750 |
0.00 |
|
|
35780299 |
71.57 |
|
Total Public shareholding (B) |
35860199 |
71.73 |
|
Total (A)+(B) |
49995701 |
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) |
49995701 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged only in trading activities of various products
including steel and agro commodities. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
|
|
|
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
Customers : |
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
Not Divulged |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Not Available |
|
Auditors : |
|
|
Name : |
Arun Maheshwari and Company Chartered Accountant |
|
Address : |
8/9, Mahesh Nagar, Indore (Madhya Pradesh), India |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Parties where control exist : |
|
|
|
|
|
Management Personnel have significance influence : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50250000 |
Equity Shares |
Rs.10/- each |
Rs.502.500 Million |
|
17000000 |
Preference Shares |
Rs.100/- each |
Rs.170.000 Million |
|
|
Total |
|
Rs.672.500
Million |
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50029901 |
Equity Shares |
Rs.10/- each |
Rs.500.299
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
49995701 |
Equity Shares |
Rs.10/- each |
Rs.499.957
Million |
|
|
Forfeited Shares |
|
Rs.0.171
Million |
|
|
Total |
|
Rs.500.128 Million |
a)The Reconciliation
of the number of shares and amount outstanding is set out below:
|
Particulars |
As at 31st march, 2014 |
|
|
|
No. of Shares |
Amount |
|
Issued |
|
|
|
Equity shares at the beginning of the year |
50029901 |
500.299 |
|
Add: Shares issued during the year |
50029901 |
500.299 |
|
|
|
|
|
Subscribed and
Fully paid up |
|
|
|
Equity Shares at the beginning of the year |
49995701 |
499.957 |
|
Add: Shares issued during the year |
0.000 |
0.000 |
|
Add: Amount paid up on Forfeited Shares |
0.000 |
0.171 |
The company has one class of equity shares having a per value of Rs.10
per share. Each shareholder is eligible for one value per share.
The dividend proposed by the Board of Director is subject to the
approval of shareholders in the ensuing Annual General Meeting., except in case
of interim dividend. In the event of liquidation, the equity shareholders are
eligible to receive the remaining assets of the Company, after distribution of
all preferential amounts, in proportion of their shareholding.
b) The details of
shareholders holding more than 5% shares:
|
Particulars |
As at 31st march, 2014 |
|
|
|
No. of Shares
held |
% held |
|
Rohini Forex Private Limited |
3343134 |
6.69 |
|
Jush Developers and Erectors Private Limited |
3806000 |
7.61 |
|
Top seals India Private Limited |
6976714 |
13.95 |
|
Joyful Developers Private
Limited |
3806075 |
7.61 |
|
Money Capfin Private
Limited |
4235796 |
8.47 |
|
Ruchi Foundation Private Limited |
6053987 |
12.11 |
|
Ruchi Acroni Industries Limited |
388852 |
0.78 |
|
Ruchi Infotech Limited |
3899263 |
7.80 |
c) During the
period of five year immediately preceding the date of which balance sheet is
made:
- No Bonus share issued.
- No shares were bought back.
- No shares are allotted for
consideration other than cash by the company.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2011 (18 month) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
500.128 |
500.128 |
500.128 |
|
(b) Reserves & Surplus |
88.976 |
90.908 |
79.013 |
|
(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) |
589.104 |
591.036 |
579.141 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.016 |
0.017 |
0.057 |
|
Total
Non-current Liabilities (3) |
0.016 |
0.017 |
0.057 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
12.000 |
10.616 |
25.000 |
|
(b) Trade payables |
75.490 |
234.392 |
782.727 |
|
(c) Other current liabilities |
8.126 |
13.782 |
10.011 |
|
(d) Short-term provisions |
0.001 |
0.001 |
0.002 |
|
Total
Current Liabilities (4) |
95.617 |
258.791 |
817.740 |
|
|
|
|
|
|
TOTAL |
684.737 |
849.844 |
1396.938 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
0.037 |
0.050 |
0.060 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
509.487 |
509.587 |
509.587 |
|
(c) Deferred tax assets (net) |
43.799 |
51.108 |
57.567 |
|
(d) Long-term Loan and Advances |
2.576 |
4.318 |
0.219 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
555.899 |
565.063 |
567.433 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
4.370 |
|
(c) Trade receivables |
84.450 |
260.901 |
804.879 |
|
(d) Cash and cash equivalents |
3.291 |
4.810 |
2.219 |
|
(e) Short-term loans and
advances |
40.108 |
17.735 |
15.979 |
|
(f) Other current assets |
0.989 |
1.335 |
2.058 |
|
Total
Current Assets |
128.838 |
284.781 |
829.505 |
|
|
|
|
|
|
TOTAL |
684.737 |
849.844 |
1396.938 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2011 (18
month) |
|
|
SALES |
|
|
|
|
|
Income |
2755.461 |
5532.708 |
10084.560 |
|
|
Other Income |
9.423 |
15.095 |
70.401 |
|
|
TOTAL
(A) |
2764.884 |
5547.803 |
10154.961 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
4336.494 |
|
|
Purchases of Stock-in-Trade |
2748.877 |
5438.104 |
4528.672 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
4.369 |
374.474 |
|
|
Employees benefits expense |
2.524 |
4.654 |
96.554 |
|
|
Extraordinary Item |
(0.430) |
0.000 |
(33.504) |
|
|
Other expenses |
4.399 |
8.430 |
418.547 |
|
|
TOTAL
(B) |
2755.370 |
5455.557 |
9721.237 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
9.514 |
92.246 |
433.724 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.568 |
69.282 |
200.292 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.946 |
22.964 |
233.432 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
0.013 |
0.019 |
34.469 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
7.933 |
22.945 |
198.963 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
9.865 |
11.050 |
73.104 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(1.932) |
11.895 |
125.859 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.04) |
0.24 |
2.52 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2011 (18
Months) |
|
|
|
|
|
|
|
Net Profit Margin (PAT/Sales) |
(%) |
-0.07 |
0.21 |
1.25 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
0.35 |
1.67 |
4.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.03 |
7.94 |
23.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01 |
0.04 |
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.02 |
0.02 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.10 |
1.01 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 (18
month) |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
500.128 |
500.128 |
500.128 |
|
Reserves & Surplus |
79.013 |
90.908 |
88.976 |
|
Net
worth |
579.141 |
591.036 |
589.104 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
25.000 |
10.616 |
12.000 |
|
Total
borrowings |
25.000 |
10.616 |
12.000 |
|
Debt/Equity
ratio |
0.043 |
0.018 |
0.020 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 (18
month) |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10084.560 |
5532.708 |
2755.461 |
|
|
|
(45.137) |
(50.197) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 (18
month) |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
10084.560 |
5532.708 |
2755.461 |
|
Profit |
125.859 |
11.895 |
(1.932) |
|
|
1.25% |
0.21% |
(0.07%) |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
---------------------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10353551 |
28/03/2012 |
2,414,800,000.00 |
Dena Bank |
Industrial Finance, Branch Navlakha, A B Road, In |
B38884060 |
|
2 |
10284631 |
17/03/2011 |
243,800,000.00 |
ALLAHABAD BANK |
NEW PALASIA BRANCH, EMBASSY TOWER, NEW PALASIA, I |
B11790904 |
|
3 |
10256679 |
21/10/2010 |
320,000,000.00 |
ALLAHABAD BANK |
NEW PALASIA BRANCH,, EMBASSY TOWER, NEW PALASIA, |
A99828618 |
|
4 |
10119277 |
30/03/2010 * |
30,000,000.00 |
STATE BANK OF INDORE |
INDUSTRIAL FINANCE BRANCH, KHEL PRASHAL, INDORE, |
A82572694 |
|
5 |
10052339 |
11/01/2010 * |
430,000,000.00 |
State Bank of India |
Commercial Branch,, A.B. Road, Near GPO,, Indore, |
A78096682 |
UNSECURED LOAN
(Rs.
In Million)
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
Short Term
Borrowing |
|
|
|
Deposits from public |
12.000 |
9.711 |
|
Overdraft from Bank |
0.000 |
0.905 |
|
|
|
|
|
Total |
12.000 |
10.616 |
|
|
|
|
CONTIGENT LIABILIES
AND COMMITMENT
(Rs. In Million)
|
|
2013-14 |
2011.13 |
|
A. CONTIGENT LIABILITIES |
|
|
|
i)
Guarantees issued by Bank |
Nil |
Nil |
|
ii)
Income Tax demand disputes in appeal |
6.76 |
6.76 |
|
iii)
Corporate guarantee given on behalf of subsidiary |
24148.00 |
24148.00 |
|
B. Commitment |
Nil |
Nil |
OPERATIONAL
PERFORMANCE :
Subject is engaged only in trading activities of various products
including steel and agro commodities. The Company recorded a turnover of
Rs.2755.461 Million for the year ended 31st March, 2014 as compared
to Rs. 5532.708 Million in the previous 18 months and net loss of Rs. 1.932
Million as compared to profit of Rs. 11.895 Million in the previous 18 months.
However, the Company is exploring various other business opportunities so that
margin can be improved.
INDUSTRY OUTLOOk:
Year 2013-14 witnessed with a slowdown in Developing and Emerging
markets. In the domestic market, growth continued to be muted with the second successive
year. The GDP Growth is 5% in 2013-14 as compared to last year 4.8%. The year
saw steep currency depreciation in an environment, where industrial activity
remained in contraction mode. With sluggish growth across the larger economy,
further compounded by high consumer inflation and weak sentiment, market growth
moderated throughout the year in both volume and value terms.
FIXED ASSETS
- Freehold land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Office
Equipment
- Vehicles
STANDALONE
UNAUDITED FINANCIAL RESULTS FOR AND NINE MONTHS ENDED DECEMBER 31, 2014
Standalone statement of profit and loss
(Rs. In Millions)
|
Sr. No |
Particulars |
Standalone |
|||
|
Quarter Ended |
Nine Month Ended |
||||
|
31.12.2014 |
30.09.2014 |
31.12.2014 |
|||
|
Unaudited |
Unaudited |
Unaudited |
|||
|
1 |
Income From
Operations |
|
|
|
|
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
552.193 |
958.232 |
2062.609 |
|
|
|
b. Other Operating Income |
1.195 |
1.040 |
3.553 |
|
|
|
Total Income from
Operations (Net) |
553.388 |
959.272 |
2066.162 |
|
|
2 |
Expenditure |
|
|
|
|
|
|
a. Cost of material Consumed |
0.000 |
0.000 |
0.000 |
|
|
|
b. Purchase of Stock-in trade |
551.501 |
957.609 |
2060.524 |
|
|
|
c. Changes in inventory of finished Goods, work- in-progress and Stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
|
d. Employees Benefit Expenses |
0.722 |
0.749 |
2.192 |
|
|
|
e. Job Work Charges |
0.000 |
0.000 |
0.000 |
|
|
|
f. Depreciation and Amortisation Expenses |
0.000 |
0.000 |
0.001 |
|
|
|
g. Other expenses |
0.632 |
1.443 |
2.640 |
|
|
|
Total Expenses |
552.855 |
959.801 |
2065.357 |
|
|
3 |
Profit from
Operations before Other Income, Interest and Exceptional Items |
0.533 |
(0.529) |
0.805 |
|
|
4 |
Other Income |
0.066 |
0.620 |
0.749 |
|
|
5 |
Profit from
ordinary activities before finance cost & exceptional items |
0.599 |
0.091 |
1.554 |
|
|
6 |
Finance Costs |
0.077 |
0.081 |
0.991 |
|
|
7 |
Exchange Difference Loss / (Gain) (Net) |
|
|
|
|
|
8 |
Profit from
ordinary activities after finance costs & exceptional items |
0.522 |
0.010 |
0.563 |
|
|
9 |
Exceptional items |
0.000 |
0.000 |
0.000 |
|
|
10 |
Profit from
ordinary activities before tax |
0.522 |
0.010 |
0.563 |
|
|
11 |
Tax Expense |
|
|
|
|
|
|
- Income Tax |
0.001 |
0.003 |
0.107 |
|
|
|
- Deferred Tax |
0.143 |
(0.129) |
0.173 |
|
|
12 |
Net Profit from
ordinary activity after tax |
0.279 |
0.136 |
0.283 |
|
|
13 |
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
|
14 |
Net Profit After
Tax |
0.279 |
0.136 |
0.283 |
|
|
15 |
Paid-up equity share capital (face value of Rs.10 per share) |
500.128 |
500.128 |
500.128 |
|
|
16 |
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
0.000 |
0.000 |
0.000 |
|
|
17 |
Earning Per Share (of Rs.10 each) (not annualized) |
|
|
|
|
|
|
Basic EPS |
0.001 |
0.000 |
0.006 |
|
|
|
Diluted EPS |
0.001 |
0.000 |
0.006 |
|
|
A |
PARTICULARS OF
SHAREHOLDING |
|
|
|
|
|
17 |
Public Shareholding |
|
|
|
|
|
|
- No. of shares |
35860199 |
35860199 |
35860199 |
|
|
|
- Percentage of shareholding |
71.73 |
71.73 |
71.73 |
|
|
18 |
Promoter &
Promoter Group Shareholding |
|
|
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
|
|
- No. of shares |
9953250 |
9953250 |
9953250 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
7.041 |
7.041 |
7.041 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
1.991 |
1.991 |
1.991 |
|
|
|
b) Non-encumbered |
|
|
|
|
|
|
- No. of shares |
4182252 |
4182252 |
4182252 |
|
|
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
29.59 |
29.59 |
29.59 |
|
|
|
- Percentage of shareholding (as a % of the total share capital of the company) |
8.36 |
8.36 |
8.36 |
|
|
|
Particulars |
3 Months ended 30.09.2014 |
|
B |
Investor Complaints |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
1 |
|
|
Disposed off during the quarter |
1 |
|
|
Remaining unresolved at the end of the
quarter |
Nil |
- The above Results were reviewed by the Audit
committee and thereafter approved by the Board of Directors of the company
in their meeting held on 6th and 7th February, 2015
respectively.
- Previous period figures are re-grouped
and re- arranged wherever necessary.
- The company is engaged in trading
activities only. Hence, in the opinion of the management, provision of
Accounting Standard 17 Segment Reporting are not applicable to the
company’s standalone results.
4. a) Consequent to enactment of the Companies
Act 2013, the company has revised depreciation with reference to estimated economic life of
Fixed Assets prescribed by schedule ll of the act,
b) Due to revision in estimated economic
life, the charge of depreciation is lower by Rs.0.008 Million for the nine months ended 31st
December, 2014 including Rs.0.003 Million for the Quarter ended 31st
December, 2014, In accordance with
transitional provision inrespect of assets whose useful life is already
exhasted, as on 01.04.2014, depreciation (net of deferred tax) has been
recognized in opening balance of retained earning in accordance with the
requirements of schedule ll of the act.
5. The above result have been reviewed by the
statutory Auditors as required under clause 41 of the listing agreement.
MANAGEMENT DISCUSSION AND ANALYSIS
INDUSTRY STRUCTURE AND DEVELOPMENT
The Company is engaged in trade in various products including steel and
agro commodities after transferring the steel Division of the Company to its
wholly owned subsidiary Company namely, RSAL Steel Private Limited. Also, the
Company is exploring various other business opportunities but looking to the
uncertainly in economy the decision for other activities will be taken at
appropriate time after streamline of economy.
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.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.65.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SUJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.