MIRA INFORM REPORT
|
Report No. : |
321140 |
|
Report Date : |
09.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SOUNDARARAJA MILLS LIMITED (w.e.f. 07.10.1967) |
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|
|
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Formerly Known
As : |
SOUNDARARAJA MILLS PRIVATE
LIMITED |
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|
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Registered Office
: |
Soundararaja Buildings, G.T.N. Salai, Dindigul - 624005, Tamilnadu |
|
Tel. No.: |
91-451-2430104 |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
11.06.1937 |
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Com. Reg. No.: |
18-014821 |
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Capital
Investment / Paid-up Capital : |
Rs.9.693 Million |
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CIN No.: [Company Identification
No.] |
U17111TZ1937PLC014821 |
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IEC No.: |
0488000629 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHES00305E/ CHES16772A |
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PAN No.: [Permanent Account No.] |
AAACS8799R |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturers and Exporters of Synthetic and Cotton Yarn. |
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No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company has incurred loss during financial year 2014. However, the
rating takes into consideration company’s sound financial risk profile backed
by healthy networth and adequate liquidity profile of the company. Trade relations are fair. Business is active. Payments are reported to
be slow but correct. In view of decent networth profile, 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 – 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 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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 PARTED BY
|
Name : |
Mr. Narayanaraja Muralidharan |
|
Designation : |
Director |
|
Contact No.: |
91-9842131307 |
|
Date : |
06.05.2015 |
LOCATIONS
|
Registered/ Administrative/ Corporate Office : |
|
|
Tel. No.: |
91-451-2430104/
2430105 |
|
Mobile No.: |
91-9842205038 (Mr. Subramanium) |
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Fax No.: |
91-451-2430593 |
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E-Mail : |
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Website : |
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Factory 1 : |
Soudararaja Mills Road, Dindigul – 624003, Tamilnadu, India |
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Tel. No.: |
91-451-2470067 |
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Fax No.: |
91-451-2471407 |
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Factory 2 : |
Kamarajar Salai, Nedungadu - 609603, |
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Tel. No.: |
91-4368-261293/ 261284 |
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Fax No.: |
91-4368-261519 |
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Factory 3 : |
Nillakottai Taluk, Dindigul District, Siddargalnatham – 624219, |
DIRECTORS
AS ON 30.06.2014
|
Name : |
Mr. Soundarajan Ranjit |
|
Designation : |
Managing Director |
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Address : |
36 Vijayashree, Arch Bishop Avenue, Chennai-600028, Tamilnadu, India |
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Date of Birth/Age : |
16.07.1963 |
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Qualification : |
M.S.A.S.(USA) |
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Date of Appointment : |
01.07.1985 |
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DIN No.: |
00307132 |
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|
|
|
Name : |
Mr. Narayanaraja Muralidharan |
|
Designation : |
Director |
|
Address : |
19 A Kasimalli, Dindigul-624003, Tamilnadu, India |
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Date of Birth/Age : |
09.05.1959 |
|
Qualification : |
D.T.T. |
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Date of Appointment : |
30.04.2006 |
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PAN No.: |
ACMPM4302P |
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DIN No.: |
00391413 |
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Name : |
Mr. Ranjit Soundarajan Sangeetha |
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Designation : |
Whole-time Director |
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Address : |
Lakshmi Soundara, G T N Salai, Dindigul District-624005, Tamilnadu, India |
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Date of Birth/Age : |
09/11/1966 |
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Qualification : |
BBA |
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Date of Appointment : |
18.02.2008 |
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PAN No.: |
AACPR6741F |
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DIN No.: |
02186527 |
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|
|
Name : |
Mr. Venkattramnaidu Athinarayanasamy |
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Designation : |
Executive Director |
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Address : |
Old-17, New-25, Krishnarao, Second St. Dindigul-624001, Tamilandu, India |
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Date of Birth/Age : |
08.03.1958 |
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Qualification : |
B.COM. |
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Date of Appointment : |
24.06.2010 |
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PAN No.: |
AFEPA7549D |
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DIN No.: |
03136026 |
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|
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Name : |
Mr. Kiran Ranjit Soundarajan |
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Designation : |
Director |
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Address : |
Lakshmi Soundra, G.T.N Salai, B.K Puram, Dindigul-624005, Tamilnadu, India |
|
Date of Birth/Age : |
08.08.1988 |
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Date of Appointment : |
24.06.2010 |
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PAN No.: |
ATCPK3466D |
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DIN No.: |
03164195 |
MAJOR SHAREHOLDERS
AS ON 30.06.2014
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
AS ON 30.06.2014
|
Category |
Percentage |
|
Bodies corporate |
18.00 |
|
Directors or relatives of Directors |
71.00 |
|
Other top fifty shareholders |
11.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Synthetic and Cotton Yarn. |
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Products : |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cheque, Credit (30 / 60 / 90 Days) |
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Purchasing : |
Cheque, Credit (30 / 60 / 90 Days) |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
1500 (Approximately) |
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Bankers : |
· State Bank of Mysore Chennai Main Branch, 231 NSC Bose Road, Chennai - 600001, Tamilnadu, India · IDBI Bank Limited 3, West Market Street, Madurai – 625001, Tamilnadu, India · State Bank of Hyderabad Industrial Finance Branch, 45, II Line Beach, I Floor, Chennai – 600001, Tamilnadu, India · Syndicate Bank Dindigul Nagal Nagar Branch, Nagal Nagar, Dindigul – 624003, Tamilnadu, India · Corporate Bank Industrial Finance Branch, Trichy Road, Coimbatore – 641018, Tamilnadu, India |
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Facilities : |
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Auditors : |
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Name : |
N Balavenkatesan Chartered Accountants |
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Address : |
91/31, New Agraharam, Palani Road, Dindigul, Tamilnadu, India |
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PAN No.: |
ABEPB3151A |
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Collaborators : |
Not Divulged |
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Membership : |
Not Divulged |
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Associates : |
· Soundararaja Textiles Company · K and Y Enterprises Private Limited · Soundararaja and Company |
CAPITAL STRUCTURE
AS ON 30.06.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
969336 |
Equity Shares |
Rs.10/- each |
Rs.9.693 Million |
|
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|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
9.693 |
9.693 |
9.693 |
|
(b) Reserves & Surplus |
717.925 |
724.170 |
705.037 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
|
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|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
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Total
Shareholders’ Funds (1) + (2) |
727.618 |
733.863 |
714.730 |
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(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
121.011 |
191.986 |
197.162 |
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(b) Deferred tax liabilities (Net) |
67.795 |
63.305 |
80.402 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
188.806 |
255.291 |
277.564 |
|
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(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
222.776 |
222.288 |
245.161 |
|
(b) Trade
payables |
40.926 |
60.380 |
19.916 |
|
(c) Other
current liabilities |
131.346 |
124.159 |
152.821 |
|
(d) Short-term provisions |
10.598 |
12.564 |
8.641 |
|
Total Current
Liabilities (4) |
405.646 |
419.391 |
426.539 |
|
|
|
|
|
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TOTAL |
1322.070 |
1408.545 |
1418.833 |
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|
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II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
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|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
713.156 |
751.125 |
797.868 |
|
(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 |
0.459 |
0.458 |
0.458 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
44.203 |
178.887 |
150.350 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
757.818 |
930.470 |
948.676 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
528.195 |
429.356 |
393.909 |
|
(c) Trade
receivables |
24.369 |
41.420 |
56.188 |
|
(d) Cash and
cash equivalents |
11.688 |
7.299 |
20.060 |
|
(e)
Short-term loans and advances |
0.000 |
0.000 |
0.000 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
564.252 |
478.075 |
470.157 |
|
|
|
|
|
|
TOTAL |
1322.070 |
1408.545 |
1418.833 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1137.365 |
950.393 |
991.485 |
|
|
|
Other Income |
2.106 |
4.815 |
7.909 |
|
|
|
TOTAL (A) |
1139.471 |
955.208 |
999.394 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
607.607 |
460.151 |
481.608 |
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(121.868) |
(7.737) |
67.026 |
|
|
|
Employee Benefits Expenses |
137.255 |
89.462 |
72.152 |
|
|
|
Other Expenses |
355.385 |
300.286 |
241.807 |
|
|
|
Exceptional Items |
62.500 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
1040.879 |
842.162 |
862.593 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
98.592 |
113.046 |
136.801 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.267 |
63.073 |
81.329 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
43.325 |
49.973 |
55.472 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
45.102 |
47.359 |
53.309 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(1.777) |
2.614 |
2.163 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.468 |
(16.517) |
3.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(6.245) |
19.131 |
(1.383) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(205.765) |
(224.896) |
(223.513) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(212.010) |
(205.765) |
(224.896) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY ON FOB |
110.978 |
101.321 |
151.088 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(6.44) |
19.74 |
(737.34) |
|
|
Particulars |
|
|
31.03.2015 |
|
Sales Turnover (Approximately) |
|
|
1000.000 |
The above information has been parted by Mr. Naratanaraja
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin PAT / Sales |
(%) |
(0.55) |
2.01 |
(0.14) |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.67 |
11.89 |
13.80 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
(0.13) |
0.19 |
0.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.47 |
0.56 |
0.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39 |
1.14 |
1.10 |
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 |
9.693 |
9.693 |
9.693 |
|
Reserves & Surplus |
705.037 |
724.170 |
717.925 |
|
Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
714.730 |
733.863 |
727.618 |
|
|
|
|
|
|
long-term borrowings |
197.162 |
191.986 |
121.011 |
|
Short term borrowings |
245.161 |
222.288 |
222.776 |
|
Total
borrowings |
442.323 |
414.274 |
343.787 |
|
Debt/Equity
ratio |
0.619 |
0.565 |
0.472 |
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 |
991.485 |
950.393 |
1137.365 |
|
|
|
-4.144 |
19.673 |
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
|
991.485 |
950.393 |
1137.365 |
|
Profit |
(1.383) |
19.131 |
(6.245) |
|
|
(0.14%) |
2.01% |
(0.55%) |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
NOTE:
The Registered office of the company has been shifted
from No.8, Old No.36-A, B M Avenue, Chennai – 600028, Tamilnadu, India to the
present address w.e.f. 05.09.2008.
REVIEW OF OPERATIONS:
The Indian textile industry, after a gap of several years, witnessed growth in all segments. The preference of Chinese industry to source their yarn from India and world renowned chain stores and global textile brands started sourcing from India fueled growth in Indian spinning industry. 75-80% of yarn produced in India is heading towards China. Inspite of serious power outages, your Company has able to post an improved turnover during the current financial year, being an increase of 20% over the earlier financial year. The coordinated efforts of the Management, Employees and Agents yielded better performance. The Operating Profits was also much improved during the year due to better administration and vigilance over expenditure. However due to writing off of exceptional items and other statutory write-offs, the Company posted a Net Loss under Net Profit after Taxes.
UNSECURED LOANS:
|
Particulars |
31.03.2014 Rs. In Million |
31.03.2013 Rs. In Million |
|
Long Term Borrowings |
|
|
|
Deposits from directors |
55.467 |
40.392 |
|
Deposits from shareholders |
0.000 |
2.122 |
|
Public deposits |
0.000 |
11.242 |
|
|
|
|
|
Short Term Borrowings |
|
|
|
Public deposits |
0.000 |
0.166 |
|
|
|
|
|
Total |
55.467 |
53.922 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10135390 |
30/10/2007 |
9,200,000.00 |
INDIAN OVERSEAS BANK LIMITED |
17 THADICOMBU ROAD, CHENNAI, TAMIL NADU - 624008, INDIA |
A42003830 |
|
2 |
10035517 |
12/06/2009 * |
250,000,000.00 |
UCO BANK |
T. NAGAR MID CORPORPORATE BRANCH, NO.67, BURKIT ROAD, T NAGAR, CHENNAI, TAMIL NADU - 600017, INDIA |
A66948126 |
|
3 |
10034102 |
10/03/2007 * |
100,000,000.00 |
BHARAT OVERSEAS BANK LIMITED |
17 THADICOMBU ROAD, DINDIGUL, TAMIL NADU - 624008,INDIA |
A41994195 |
|
4 |
10023962 |
05/02/2010 * |
70,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANACE BRANCH, TRICHY ROAD, COIMBATORE, TAMIL NADU - 641018, INDIA |
A78638095 |
|
5 |
90297959 |
14/05/2004 |
30,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE CIRCLE, VADODARA, TAMIL NADU - 390007, INDIA |
- |
|
6 |
90297163 |
24/06/2010 * |
100,000,000.00 |
IDBI BANK LIMITED |
3 WEST MARRET STREET, MADURAI, TAMIL NADU - 625001, INDIA |
A92340959 |
|
7 |
90297926 |
21/11/2003 * |
170,000,000.00 |
ICICI BANK LIMITED |
LANDMARK,
RACE COURSE CIRCLE, VADODARA, GUJARAT - |
- |
|
8 |
90297129 |
21/12/2001 |
6,800,000.00 |
THE LAKSHMI VILAS BANK LTD. |
81; PNESIONER STREET, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
9 |
90290280 |
30/01/2008 * |
806,335,000.00 |
LAKSHMI VILAS BANK LIMITED |
SALEM ROAD KATHAPARAI,KARUR,, KARUR, TAMILNADU, TAMIL NADU – 639006, INDIA |
A38525143 |
|
10 |
90297127 |
10/05/2005 * |
152,900,000.00 |
THE LAKSHMI VILAS BANK LTD. |
P. N. TOWERS, PNESIONER STREET, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
11 |
90297750 |
21/01/2004 * |
72,000,000.00 |
THE LAKSHMI VILAS BANK LTD. |
81; PENSIONER STREET, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
12 |
90296997 |
21/05/1997 |
30,070,000.00 |
THE LAKSHMI VILAS BANK LTD. |
PNESIONER STREET, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
13 |
90297722 |
25/04/1997 |
9,000,000.00 |
THE LAKSHMI VILAS BANK LTD. |
PENSIONER STREET, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
14 |
90297712 |
09/01/1997 |
10,000,000.00 |
THE LAKSHMI VILAS BANK LTD. |
P.
N. TOWERS;, PENSIONER STREET, DINDIGUL, TAMIL |
- |
|
15 |
90297640 |
20/10/1994 |
17,000,000.00 |
STATE BANK OF INDIA |
SALAI ROAD, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
16 |
90297638 |
08/06/1995 * |
11,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMDNT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
17 |
90297604 |
20/04/1994 * |
30,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
18 |
90297590 |
08/06/1993 * |
30,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMENT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
19 |
90297567 |
28/10/1992 * |
15,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMDNT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
20 |
90297565 |
19/04/1993 * |
15,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMDNT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
21 |
90297529 |
19/04/1993 * |
20,000,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMDNT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
22 |
90297521 |
09/01/1991 |
9,350,000.00 |
THE INDUSTRIAL CREDIT AND INVESTMDNT CORPN. OF INDIA LTD. |
163; BACKBAY RECLAMATION, BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
23 |
90297480 |
14/03/1989 |
2,500,000.00 |
THE LAKSHMI VILAS BANK LTD. |
DINDIGUL, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
24 |
90297479 |
09/03/1989 |
10,000,000.00 |
STATE BANK OF INDIA |
DINDIGUL, DINDIGUL, TAMIL NADU, INDIA |
- |
|
25 |
90296775 |
18/06/1988 |
7,000,000.00 |
THE LAKSHMI VILAS BANK LTD. |
DINDIGUAL, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
26 |
90297455 |
11/06/2005 * |
72,000,000.00 |
THE LAKSHMI VILAS BANK LTD. |
P.
N. TOWERS;, PENSIONER STREET, DINDIGUL, TAMIL |
- |
|
27 |
90296770 |
03/02/1988 |
5,450,000.00 |
STANDARD CHARTERED BANK |
MADRAS, MADRAS, TAMIL NADU, INDIA |
- |
|
28 |
90297440 |
05/03/2015 * |
347,000,000.00 |
STATE BANK OF INDIA |
SME
BRANCH, NO. 100 & 101, FIRST FLOOR, MUNICIPAL |
C48579700 |
*Date of modification Charges
FIXED ASSETS:
· Land (Freehold)
· Buildings
· Plant and Machinery
· Electrical Machinery
· Furniture and Fittings
·
Vehicles
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.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
|
Information Gathered
by : |
MNJ |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
43 |
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.