MIRA INFORM REPORT
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Report No. : |
320718 |
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Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SUPREME TEX MART LIMITED (w.e.f. 05.09.2003) |
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Formerly Known
As : |
SUPREME WOOLLEN MILLS LIMITED |
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Registered
Office : |
424, Industrial Area – A, Ludhiana – 141003, Punjab |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
25.10.1988 |
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Com. Reg. No.: |
16-016933 |
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Capital
Investment / Paid-up Capital : |
Rs. 340.556 Million |
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CIN No.: [Company Identification
No.] |
L17117PB1988PLC016933 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
JLDM02038B |
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PAN No.: [Permanent Account No.] |
AAHCS9897D |
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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 of Garments. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 8000000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. Financial position of the company seems to be sound. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- (Suspended) |
|
Rating Explanation |
Have Moderate degree of safety and carry moderate credit risk |
|
Date |
06.02.2015 |
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Rating Agency Name |
CARE |
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Rating |
Short Term Bank Facilities = A3 (Suspended) |
|
Rating Explanation |
Have Moderate degree of safety and carry higher credit risk |
|
Date |
06.02.2015 |
Note:
Reason for Suspension:
The ratings has been suspended as the company has not furnished the
information required by the CARE monitoring of the ratings.
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 corporative (91-161-2600593)
LOCATIONS
|
Registered Office : |
424, Industrial Area – A, , Ludhiana – 14103, Punjab,
India |
|
Tel. No.: |
91-161-2600593 / 2222719 / 6614400 / 2510622 / 2510320 / 2510097 |
|
Mobile No.: |
91-9915700175 (Mr. Robin Vijan) 91-9915710123 (Gaurav Mehra) |
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Fax No.: |
91-161-2609949 / 2510584 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : |
Spinning Unit – 1
and 2 Village Kanganwal. P.O. Jugiana, Ludhiana, Punjab, India |
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Factory 2 : |
Dyeing Unit and
Hand Knitting Yarn Unit B – 72, Phase – VIII, Focal Point, Ludhiana, Punjab, India |
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Factory 3 : |
Garment Unit Village Paharuwal, Ludhiana, Punjab, India |
DIRECTORS
AS ON 31.03.2014
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Name : |
Mr. Sanjay Gupta |
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Designation : |
Whole-time Director |
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Name : |
Mr. B B Goel |
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Designation : |
Independent Director |
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Name : |
Mr. R. C. Singal |
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Designation : |
Independent Director |
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Name : |
Mr. Marsel Menda |
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Designation : |
Director |
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Name : |
Mr. Rajive Bambri |
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Designation : |
Additional Director |
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Name : |
Mr. Daljeet Singh Sandhu |
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Designation : |
Additional Director |
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Name : |
Mr. Ashok Kumar Singla |
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Designation : |
Additional Director |
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Name : |
Mr. Ajay Gupta |
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Designation : |
Managing Director |
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Name : |
Mr. Gautam Gupta |
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Designation : |
Joint Managing Director |
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Name : |
Mr. Kuldeep Sing |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Robin Vijan |
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Designation : |
Company Secretary |
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 |
|
As a % of (A+B) |
||
|
(A) Shareholding of Promoter and Promoter
Group |
||
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|
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|
30739080 |
45.05 |
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|
7350000 |
10.77 |
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|
1645222 |
2.41 |
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|
39734302 |
58.24 |
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Total shareholding of Promoter and Promoter
Group (A) |
39734302 |
58.24 |
|
(B) Public Shareholding |
||
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|
|
|
|
|
|
|
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|
5383404 |
7.89 |
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|
|
|
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|
1927320 |
2.82 |
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|
8159044 |
11.96 |
|
|
13503993 |
19.79 |
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|
43718 |
0.06 |
|
|
183085 |
0.27 |
|
|
13274083 |
19.45 |
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|
3107 |
0.00 |
|
|
28495933 |
41.76 |
|
Total Public shareholding (B) |
28495933 |
41.76 |
|
Total (A)+(B) |
68230235 |
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) |
68230235 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Garments. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
Note: Long Term
Borrowing
Short Term
Borrowing Working Capital Loans from banks are secured by first pari-passu charge over current assets and second pari-passu charge over fixed assets of the company. The loans are also secured by equitable mortgage of residential house of Director Mr. Ajay Gupta and Promoter Mr. Sanjay Gupta located at 445 Sant Nagar Ludhiana. Further, the loans have been guaranteed by the personal guarantee of Directors Mr. Ajay Gupta, Mr. Gautam Gupta and Promoter Mr. Sanjay Gupta. |
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Auditors : |
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|
Name : |
Ashish Agarwal and Company Chartered Accountants |
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Address : |
400/1 Rani Jhansi Road, Civil
Lines, Ludhiana – 141001, Punjab, India |
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Tel. No.: |
91-161-2420692 / 2420797 |
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E-Mail : |
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Enterprises controlled by Key Management Personnel : |
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CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90000000 |
Equity Shares |
Rs.5 /- each |
Rs.450.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
68230235 |
Equity Shares |
Rs.5 /- each |
Rs.341.151 Million |
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|
Less : Calls in arrear |
|
Rs. 0.595 Million |
|
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Total |
|
Rs. 340.556
Millions |
Note:
Reconciliation of the number of shares
outstanding
|
|
As at March 31 |
|
|
2014 |
||
|
No. |
Amount |
|
|
At
the beginning of the period |
64574963 |
322874815 |
|
Issued
during the period |
3655272 |
18276360 |
|
Outstanding
at the end of period |
68230235 |
341151175 |
Terms/rights attached
to equity shares
The company has one class of equity shares having a par value of Rs. 5 per share. Each holder of equity shares is entitled to one vote per share. The company declares and pays dividend 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 shareholder.
Details of
shareholders holding more than 5% shares in the company
|
|
As at March 31, |
|
|
2014 |
||
|
No. |
% Holding in the
class |
|
|
Equity shares of `
5 each fully paid |
|
|
|
Sindia Investment Group Pte Limited |
7000000 |
10.26% |
|
Sinochamp Corporation Limited |
4807143 |
7.05% |
|
Gold Leaf International Private Limited |
4000000 |
5.86% |
|
Sanjay Gupta |
11933823 |
17.49% |
|
Ajay Gupta |
9575445 |
14.03% |
|
Bhavna Gupta |
3534665 |
5.18% |
|
White Stone Yarns Private Limited |
3350000 |
14.91% |
|
Venus Tex Spin Limited |
3350000 |
4.91% |
As per of the company, including its register of shareholders/members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownership of shares.
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
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|
I.
EQUITY AND LIABILITIES |
|
|
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|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
340.556 |
322.280 |
322.063 |
|
(b) Reserves &
Surplus |
1682.348 |
1469.778 |
1309.246 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
206.731 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2022.904 |
1998.789 |
1631.309 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
1775.693 |
2180.120 |
1915.565 |
|
(b) Deferred tax
liabilities (Net) |
303.496 |
316.031 |
233.034 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
20.417 |
7.208 |
8.804 |
|
Total Non-current
Liabilities (3) |
2099.606 |
2503.359 |
2157.403 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1831.916 |
1785.559 |
1376.733 |
|
(b) Trade payables |
1291.850 |
848.015 |
926.681 |
|
(c) Other current
liabilities |
631.295 |
480.258 |
305.394 |
|
(d) Short-term provisions |
52.154 |
52.694 |
62.417 |
|
Total Current Liabilities
(4) |
3807.215 |
3166.526 |
2671.225 |
|
|
|
|
|
|
TOTAL |
7929.725 |
7668.674 |
6459.937 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
3139.502 |
3286.989 |
2773.407 |
|
(ii) Intangible Assets |
3.086 |
4.819 |
6.146 |
|
Expenditure on power Lines |
0.000 |
0.049 |
0.460 |
|
(iii) Capital
work-in-progress |
3.256 |
18.675 |
42.979 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
80.500 |
54.102 |
35.333 |
|
(e) Other Non-current
assets |
63.942 |
63.355 |
44.274 |
|
Total Non-Current Assets |
3290.286 |
3427.989 |
2902.599 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
|
|
(b) Inventories |
2288.454 |
2624.964 |
1903.476 |
|
(c) Trade receivables |
1429.591 |
837.203 |
755.020 |
|
(d) Cash and cash
equivalents |
65.104 |
121.209 |
63.393 |
|
(e) Short-term loans and
advances |
517.159 |
423.494 |
607.118 |
|
(f) Other current assets |
339.131 |
233.815 |
228.331 |
|
Total Current Assets |
4639.439 |
4240.685 |
3557.338 |
|
|
|
|
|
|
TOTAL |
7929.725 |
7668.674 |
6459.937 |
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
8304.242 |
8935.831 |
8447.911 |
|
|
Other Income |
2.327 |
6.108 |
17.722 |
|
|
TOTAL (A) |
8306.569 |
8941.939 |
8465.633 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
5277.007 |
6025.705 |
5457.104 |
|
|
Purchases of
Stock-in-Trade |
623.940 |
586.701 |
872.230 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
86.785 |
87.234 |
(113.487) |
|
|
Employees benefits
expense |
241.508 |
169.356 |
157.509 |
|
|
Other expenses |
1306.633 |
1159.392 |
1170.190 |
|
|
TOTAL (B) |
7535.873 |
8028.388 |
7543.546 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
770.696 |
913.551 |
922.087 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
501.549 |
492.134 |
511.173 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX,
DEPRECIATION AND AMORTISATION (C-D) (E) |
269.147 |
421.417 |
410.914 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
266.064 |
170.364 |
173.265 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
3.083 |
251.053 |
237.649 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(8.446) |
90.522 |
79.172 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
11.529 |
160.531 |
158.477 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
2298.731 |
1847.254 |
1338.006 |
|
|
TOTAL EARNINGS |
2298.731 |
1847.254 |
1338.006 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
11.093 |
47.276 |
47.381 |
|
|
Components and Stores
parts |
8.959 |
10.088 |
15.010 |
|
|
Capital Goods |
0.326 |
477.895 |
6.765 |
|
|
TOTAL IMPORTS |
20.378 |
535.259 |
69.156 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
0.17 |
2.49 |
3.04 |
Quarterly
Results
(Rs.
In Million)
|
Particulars |
Jun 2014 |
Sep 2014 |
Dec 2014 |
|
Audited / UnAudited |
UnAudited |
UnAudited |
UnAudited |
|
Net Sales |
1072.500 |
1502.600 |
813.400 |
|
Total Expenditure |
914.300 |
1737.100 |
916.400 |
|
PBIDT (Excl OI) |
158.200 |
(234.500) |
(103.000) |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating Profit |
158.200 |
(234.500) |
(103.000) |
|
Interest |
119.300 |
128.200 |
143.800 |
|
Exceptional Items |
0.000 |
(530.900) |
0.000 |
|
PBDT |
38.900 |
(893.600) |
(246.700) |
|
Depreciation |
111.400 |
113.200 |
112.600 |
|
Profit Before Tax |
(72.400) |
(1006.800) |
(359.400) |
|
Tax |
(19.100) |
(90.500) |
(187.800) |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
(53.300) |
(916.400) |
(171.500) |
|
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 |
(53.300) |
(916.400) |
(171.500) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
0.14 |
1.80 |
1.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.04 |
2.81 |
2.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.04 |
3.28 |
3.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.13 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.78 |
1.98 |
2.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.34 |
1.33 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Share Capital |
322.063 |
322.28 |
340.556 |
|
Reserves & Surplus |
1309.246 |
1469.778 |
1682.348 |
|
Share Application money pending allotment |
0.000 |
206.731 |
0.000 |
|
Net worth |
1631.309 |
1792.058 |
2022.904 |
|
|
|
|
|
|
long-term borrowings |
1915.565 |
2180.12 |
1775.693 |
|
Short term borrowings |
1376.733 |
1785.559 |
1831.916 |
|
Total borrowings |
3292.298 |
3965.679 |
3607.609 |
|
Debt/Equity ratio |
2.018 |
2.213 |
1.783 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
8447.911 |
8935.831 |
8304.242 |
|
|
|
5.776 |
(7.068) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs. In Million) |
(Rs. In Million) |
(Rs. In Million) |
|
Sales |
8447.911 |
8935.831 |
8304.242 |
|
Profit |
158.477 |
160.531 |
11.529 |
|
|
1.88% |
1.80% |
0.14% |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
UNAUDITED FINANCIAL RESULTS FOR THE QUARTER 30th SEPT, 2014
|
PARTICULARS |
(UN-AUDITED) |
Six Months Ended
|
|
|
|
(3 Months Ended) |
|
|
|
|
30.09.2014 |
30.06.2014 |
30.09.2014 |
|
Income from Operations |
|
|
|
|
Net Sales/Income from Operations |
1502.580 |
1072.466 |
2575.046 |
|
Other Operating Income |
0.011 |
0.010 |
0.021 |
|
|
|
|
|
|
Total Income from
operations (net) |
1502.591 |
1072.476 |
2218.180 |
|
|
|
|
|
|
Expenses |
|
|
|
|
Cost
of materials consumed |
1271.250 |
799.977 |
2071.227 |
|
Purchases
of stock-in-trade |
21.200 |
15.900 |
21.359 |
|
Changes in inventories of
finished goods, work-in- progress and
stock-in-trade |
183.941 |
(180.008) |
3.933 |
|
Employee
benefits expense |
50.969 |
55.199 |
106.168 |
|
Depreciation
and amortization expense |
113.199 |
111.347 |
224.546 |
|
Other
Expenses |
209.752 |
238.950 |
448.702 |
|
Total Expenses |
1850.311 |
1025.624 |
2875.935 |
|
Profit / loss from Operations
before Income, finance costs and Exceptional item (1-2) |
(347.720) |
46.852 |
(300.868) |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Profit / loss from
Ordinary activities before finance costs Exceptional item (3+4) |
(347.720) |
46.852 |
(300.868) |
|
Finance Costs |
128.244 |
119.292 |
247.536 |
|
Profit / loss from
Ordinary activities after finance costs before Exceptional item (3+4) |
(475.964) |
(72.440) |
(548.404) |
|
Exceptional Items: |
530.866 |
0.000 |
530.866 |
|
Net Profit/ Loss from Ordinary Activities
before tax |
(1006.830) |
(72.440) |
(1079.270) |
|
Less : Tax
Expenses |
(90.480) |
(19.120) |
(109.600) |
|
Net Profit/ Loss from Ordinary Activities
after tax |
(916.350) |
(53.320) |
(969.670) |
|
Extraordinary
Item (net of tax expense) |
0.000 |
0.000 |
0.000 |
|
Net Profit/ Loss for the period (11+12) |
(916.350) |
(53.320) |
(969.670) |
|
Paid- up
Equity Share Capital |
341.151 |
341.151 |
341.151 |
|
Reserves excluding
revaluation reserves as per balance sheet of previous accounting year |
NA |
NA |
NA |
|
Earnings per share (of Rs. 10/- each) (not annualised) * |
|
|
|
|
Basic |
(14.02) |
(0.78) |
(14.21) |
|
Diluted |
(14.02) |
(0.78) |
(14.21) |
|
|
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
|
|
1. Public
shareholding |
|
|
|
|
Number of
Shares |
28496 |
28496 |
28496 |
|
Percentage of Shareholding |
41.76 |
41.76 |
41.76 |
|
2. Promoters
and promoter group shareholding |
|
|
|
|
a)
Pledged/Encumbered |
|
|
|
|
- Number of Shares |
11426 |
11426 |
11426 |
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
28.76 |
28.76 |
28.76 |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
16.75 |
16.75 |
16.75 |
|
|
|
|
|
|
Non - encumbered |
|
|
|
|
- Number of
Shares |
28307 |
28307 |
28307 |
|
- Percentage
of Shares (as a % of
the total shareholding of promoter and promoter
group) |
71.24 |
71.24 |
71.24 |
|
- Percentage of Shares (as a % of the total share capital of the company) |
41.49 |
41.49 |
41.49 |
|
|
PARTICULARS |
Quarter
30.09.2014 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending
at the beginning of the quarter |
NIL |
|
|
Received
during the quarter |
NIL |
|
|
Disposed
of during the quarter |
NIL |
|
|
Remaining
unresolved at the end of the quarter |
NIL |
STATEMENT OF ASSETS AND LIABILITIES AS ON 30.09.2014
(Rs. In Million)
|
Particulars |
|
|
As at 30th
September, 2014 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
|
340.556 |
|
Reserves & Surplus |
|
|
671.650 |
|
Sub
–total- Shareholders’ find |
|
|
1012.206 |
|
|
|
|
|
|
(2)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
2076.079 |
|
(d) long-term provisions |
|
|
218.496 |
|
Sub-total Non-current
Liabilities |
|
|
2294.576 |
|
|
|
|
|
|
(3)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
2738.243 |
|
(b) Trade payables |
|
|
673.121 |
|
(c) Other current
liabilities |
|
|
294.963 |
|
(d) Short-term provisions |
|
|
47.460 |
|
Sub-total-current
Liabilities |
|
|
3753.787 |
|
|
|
|
|
|
TOTAL – EQUITY AND
LIABILITIES |
|
|
7060.568 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
2945.265 |
|
(b) Long-term Loan and
Advances |
|
|
30.079 |
|
(c) Other non-current
assets |
|
|
155.942 |
|
Sub-Total Non-Current
Assets |
|
|
3131.286 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Inventories |
|
|
1262.542 |
|
(b) Trade receivables |
|
|
1897.725 |
|
(c) Cash and cash
equivalents |
|
|
98.720 |
|
(d) Short-term loans and
advances |
|
|
200.197 |
|
(e) Other current assets |
|
|
470.098 |
|
Total Current Assets |
|
|
3929.282 |
|
|
|
|
|
|
TOTAL- ASSETS |
|
|
7060.568 |
Notes:
1) The above results were reviewed by the Audit Committee and have been taken on record in the Board Meeting held on 14.11.2014
2) Previous period/Year figures have been re-grouped re-classified wherever necessary to make them comparable
3) The Company has only one Reportable Segment Textiles hence Segment Reporting required under As-17 is not applicable
OPERATIONS DETAIL
Production in both the spinning units was 23.985 Million kgs. As compared to the figure of 33.405 Million kgs. In the garment unit, 0.596 Million pieces of garments & 678.96 MT Fabric were produced as compared to the figure of previous year of 0.946 Million pieces of garments and 749.95 MT of fabric. Net Turnover during the year has shown decrease of 7.11%. There is net profit of Rs.11.500 Million as compared to net profit of 160.500 Million in the previous year. Cash profit during the current year ending on 31.03.2014 decreased to Rs.265.000 Million from the figure of Rs. 413.900 Million in the previous year ending on 31.03.2013.
FINANCIAL /
OPERATIONAL PERFORMANCE
Supreme is manufacturer and exporter of cotton yarn, synthetic yarn, blended yarn, knitted fabric (both grey and processed) and knitted garments. During the year, the Company's exports (FOB value) were to the tune of Rs.2298.700 Million and accounts for about 27.67% of company’s revenues. The company has identified two segment yarn segment and garments segment. The yarn segment comprises production of various types of yarn (from cotton, manmade fibers and blend thereof) and yarn processing activities. Garment segment comprises of knitted garments.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10557988 |
30/03/2015 |
584,600,000.00 |
IDBI BANK LIMITED |
FEROZE GANDHI MARKET, LUDHIANA, PUNJAB - 141001, INDIA |
C48296727 |
|
2 |
10564032 |
30/03/2015 |
1,602,100,000.00 |
PUNJAB NATIONAL BANK |
LARGE CORPORATE BRANCH, BHAGWATI TOWER, RK ROAD, |
C51102689 |
|
3 |
10468318 |
05/12/2013 |
50,000,000.00 |
UNION BANK OF INDIA |
MCB, DUGRI ROAD, LUDHIANA, PUNJAB - 141001, INDIA |
B92772235 |
|
4 |
10399731 |
28/12/2012 |
50,000,000.00 |
STATE BANK OF INDIA |
IFB, GOLDEN TOWER, DHOLEWAL CHOWK, LUDHIANA, PUNJAB - 141003, INDIA |
B66785213 |
|
5 |
10361808 |
31/08/2013 * |
450,000,000.00 |
CENTRAL BANK OF INDIA |
MCB, R.K. ROAD,, LUDHIANA, LUDHIANA, PUNJAB - 141003, INDIA |
B88136783 |
|
6 |
10263447 |
31/08/2013 * |
250,000,000.00 |
PUNJAB NATIONAL BANK |
LCB, R.K. ROAD, BHAGWATI TOWER, R.K. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B88049051 |
|
7 |
10198826 |
31/08/2013 * |
135,000,000.00 |
PUNJAB NATIONAL BANK |
LCB, R.K. ROAD, BHAGWATI TOWER, R.K. ROAD, LUDHIANA, PUNJAB - 141003, INDIA |
B87904520 |
|
8 |
10196068 |
31/08/2013 * |
125,000,000.00 |
ALLAHABAD BANK |
IIFB, INDUSTRIAL AREA "A", LUDHIANA, PUNJAB - 141003, INDIA |
B88145214 |
|
9 |
10166965 |
31/08/2013 * |
129,500,000.00 |
ALLAHABAD BANK |
IIFB, INDUSTRIAL AREA "A", LUDHIANA, PUNJAB - 141003, INDIA |
B88154109 |
|
10 |
10166966 |
29/10/2014 * |
2,534,200,000.00 |
SBI CONSORTIUM SBI (LEADER) & PNB & IDBI & UBI
& C |
CB KAILASH NAGAR, FOCAL POINT ROAD, LUDHIANA, PUNJAB - 141001, INDIA |
C38047312 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Million) |
31.03.2013 (Rs.
in Million) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
0.000 |
129.841 |
|
From related parties (including inter corporate loans |
92.501 |
0.000 |
|
SHORT TERM
BORROWINGS |
|
|
|
Working Capital Loans From bank |
|
|
|
Indian Rupee Loans |
0.000 |
2.594 |
|
From NBFCs |
|
|
|
Indian Rupee Loans |
7.748 |
7.788 |
|
Total |
100.249 |
140.223 |
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Bills discounted with banks against irrevocable letter of credit |
240.863 |
377.283 |
FIXED ASSETS
- Freehold Land
- Leasehold Land
- Buildings
- Plant and equipment
- Furniture fixtures
- Vehicles
- Office equipment
- Computer equipment
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..64 |
|
|
1 |
Rs. 96.81 |
|
Euro |
1 |
Rs. 71.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
GTA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.