MIRA INFORM REPORT
|
Report No. : |
325193 |
|
Report Date : |
30.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
CAPRIHANS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Block-D, Shivsagar
Estate, Dr. Annie Besant Road, Worli, Mumbai - 400 018, Maharashtra |
|
Tel. No.: |
91-22-30478664 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.04.1946 |
|
|
|
|
Com. Reg. No.: |
11-004877 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.131.340 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29150MH1946PLC004877 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC00097G |
|
|
|
|
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
: |
The Company is engaged in the processing
of plastic polymers and manufactures Rigid and Flexible PVC films by
Calendering process, PVDC coated Rigid PVC film and certain plastic products
through extrusion processes. |
|
|
|
|
No. of Employees
: |
362 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is established company incorporated in the year 1946 and it is
having satisfactory track record. Company has reported increase into its sales turnover, though rating is
constrained on its low profitability margins on the back of intensified
competition in the industry. However, rating takes into consideration on long track record of
company in packaging industry and renowned brand in domestic as well as
export market. Trade relations are fair. Business is active. Payments are reported to
be usually correct. In view of strong capital structure backed by its decent debt coverage
indicators, the company can be considered for the business dealings with
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Rating = A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
April 2015 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Rating = A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk |
|
Date |
April 2015 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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 (Tel No.: 91-22-30478664)
LOCATIONS
|
Registered Office / Corporate Office : |
Block-D, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai -
400018, Maharashtra, India |
|
Tel. No.: |
91-22-30478664 |
|
Fax No.: |
91-22-24939284 / 29450594 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
5640 Sq. ft. |
|
|
|
|
Factory 1: |
Plot Nos. C-13/16, Road No. 16/T, Wagle Industrial Estate, Thane –
400604, Maharashtra, India |
|
Tel. No.: |
91-22-39983417 / 418 / 415 |
|
Fax. No.: |
91-22-25822422 |
|
|
|
|
Factory 2: |
Plot Nos. 76/77, MIDC Industrial Estate, Trimbak Road, Satpur. District
Nasik – 422007, Maharashtra, India |
|
Tel. No.: |
91-253-3046400 / 401 |
|
Fax. No.: |
91-253-2350616 |
|
Email : |
|
|
|
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|
Regional Sales Offices 1 : |
B-103, Ground Floor, Okhla Industries
Area, Phase-1, New Delhi- 110020, India |
|
Tel. No.: |
91-11-41611591 |
|
Fax. No.: |
91-11-26814868 |
|
Email : |
|
|
|
|
|
Sales Offices 2 : |
105, Maurya Complex, B/H. C.U. Shah
Collage, Off Ashram Road, Income Tax Office Circle, Ahmedabad- 380014,
Gujarat, India |
|
Tel. No.: |
91-079-27542028/27542039 |
|
Email : |
|
|
|
|
|
Sales Offices 3 : |
New 7/4, Venkatesan Street, (Ground
Floor), East Tambaram, Chennai-600059, Tamil Nadu, India |
|
Tel. No.: |
91-44-22390359/22394589 |
|
Fax. No.: |
91-44-22390341 |
|
Email : |
|
|
|
|
|
Sales Offices 4 : |
No.39, 6th cross,
Wilson garden, Bangalore-560027, Karnataka, india |
|
Tel. No.: |
91-80-222235897/22220507 |
|
Fax. No.: |
91-80-22220108 |
|
Email : |
|
|
|
|
|
Sales Offices 5 : |
Plot No.4/B, Nagarjuna Nagar Colony, Behind
Surekha Motors, Mansoorabad, L.B. Nagar, Hyderabad-500074, Andhra Pradesh,
India |
|
Email : |
|
|
|
|
|
Sales Offices 6 : |
No.28/714 A, Ground Floor, P S Complex, K. P. Vallon Road,
Kandevanthra, Cohin 682020, Kerla, India |
|
Tel. No.: |
91-484-2320442 |
|
Email : |
|
|
|
|
|
Sales Offices 7 : |
8/A, Rawdon Strret, Kolkata-700017, West
Bengal, India |
|
Tel. No.: |
91-33-22877801 |
|
Email : |
DIRECTORS
As on 31.03.2014
|
Name : |
Mr. Mofatraj P. Munot |
|
Designation : |
Chairman |
|
Date of
Birth/Age : |
04.10.1944 |
|
Qualification
: |
Higher Secondary |
|
Date of
Appointment : |
28.05.1986 |
|
|
|
|
Name : |
Mr. Robin Banerjee |
|
Designation : |
Managing Director |
|
Date of Birth/Age : |
20.08.1955 |
|
Qualification : |
B.Com, A.I.C., A.C.A., A.C.S. |
|
Date of Appointment : |
28.03.2013 |
|
|
|
|
Name : |
Mr. Suresh A. Gandhi |
|
Designation : |
Director |
|
Date of
Birth/Age : |
25.09.1950 |
|
Qualification
: |
Chartered Accountant |
|
Date of
Appointment : |
01.08.1983 |
|
|
|
|
Name : |
Mr. Rakesh Khanna |
|
Designation : |
Director |
|
Date of Birth/Age : |
14.01.1952 |
|
Qualification : |
B.Com (Hons), FCA |
|
Date of Appointment : |
11.11.2010 |
|
|
|
|
Name : |
Mr. Mohan Bhandari |
|
Designation : |
Director |
|
Date of Birth/Age : |
14.11.1959 |
|
Qualification : |
B.Sc. (Physics), PG diploma in management studies and packaging
science |
|
Date of Appointment : |
08.08.2014 |
|
|
|
|
Name : |
Mr. Bhoumick Vaidya |
|
Designation : |
Director |
|
Date of Birth/Age : |
24.03.1984 |
|
Qualification : |
LLB |
|
Date of Appointment : |
04.12.2013 |
|
|
|
|
Name : |
Mr. K. V. Mani |
|
Designation : |
Director |
|
Date of Birth/Age : |
03.09.1943 |
|
Qualification : |
BE (Electrical), MBA |
|
Date of Appointment : |
08.08.2014 |
|
|
|
|
Name : |
Ms. Anjali Seth |
|
Designation : |
Director |
|
Date of Birth/Age : |
25.10.1958 |
|
Qualification : |
LLB |
|
Date of Appointment : |
08.08.2014 |
|
|
|
|
Name : |
Mr. Nitin joshi |
|
Designation : |
Director |
|
Date of Birth/Age : |
15.07.1964 |
|
Qualification : |
LLB |
|
Date of Appointment : |
08.08.2014 |
|
|
|
|
Name : |
Mr. Siddharth Shetye |
|
Designation : |
Director |
|
Date of Birth/Age : |
13.07.1979 |
|
Qualification : |
B.com, FCA |
|
Date of Appointment : |
08.08.2014 |
KEY EXECUTIVES
|
Name : |
Mr. K. R. Viswanathan |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Desai |
|
Designation : |
Accountant Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
1209523 |
9.21 |
|
|
1538975 |
11.72 |
|
|
2748498 |
20.93 |
|
|
|
|
|
|
6698325 |
51.00 |
|
|
6698325 |
51.00 |
|
Total
shareholding of Promoter and Promoter Group (A) |
9446823 |
71.93 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
5016 |
0.04 |
|
|
350 |
0.00 |
|
|
483020 |
3.68 |
|
|
450 |
0.00 |
|
|
488836 |
3.72 |
|
|
|
|
|
|
312982 |
2.38 |
|
|
|
|
|
|
1835756 |
13.98 |
|
|
610862 |
4.65 |
|
|
438712 |
3.34 |
|
|
37466 |
0.29 |
|
|
17113 |
0.13 |
|
|
2084 |
0.02 |
|
|
124872 |
0.95 |
|
|
256327 |
1.95 |
|
|
850 |
0.01 |
|
|
3198312 |
24.35 |
|
Total Public
shareholding (B) |
3687148 |
28.07 |
|
Total (A)+(B) |
13133971 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
13133971 |
0.00 |
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image016.gif){kind=small}
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image017.gif){kind=small}
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image018.gif){kind=small}
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Promoter and Promoter Group
|
Sl.No. |
Name of the
Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
||
|
1 |
Bilcare Research GmbH |
66,98,325 |
51.00 |
|
2 |
K C Holdings Private Limited |
12,42,609 |
9.46 |
|
3 |
Mofatraj Pukharaj Munot |
6,64,371 |
5.06 |
|
4 |
Parag Mofatraj Munot |
4,45,496 |
3.39 |
|
5 |
Kalpataru Properties Private Limited |
2,73,736 |
2.08 |
|
6 |
Imtiaz Kanga |
38,288 |
0.29 |
|
7 |
Monica Parag Munot |
26,300 |
0.20 |
|
8 |
Yugdharm Investment and Trading Company Private Limited |
22,350 |
0.17 |
|
9 |
Tara Kanga |
5,250 |
0.04 |
|
10 |
Mrigashish Investment & Trading Limited |
140 |
0.00 |
|
11 |
Shouri Investment & Trading Company Private Limited |
140 |
0.00 |
|
12 |
Yasmin Imtiaz Kanga |
70 |
0.00 |
|
13 |
Mohamad Ismail Kanga |
29,748 |
0.23 |
|
|
Total |
94,46,823 |
71.93 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons belonging to the category Public and holding more than
1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Life Insurance Corporation of India |
483020 |
3.68 |
|
|
|
Total |
483020 |
3.68 |
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image020.gif)
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the
processing of plastic polymers and manufactures Rigid and Flexible PVC films by
Calendering process, PVDC coated Rigid PVC film and certain plastic products
through extrusion processes. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Finished goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw material |
|
Countries : |
European Countries |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
|
||||||||||||
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|
|
||||||||||||
|
Customers : |
Wholesaler, Retailers and Manufacturer
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
362 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
M. P. Chitale and
Company Chartered
Accountants |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Holding Company: |
|
|
|
|
|
Fellow subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13133971 |
Equity Shares |
Rs.10/- each |
Rs.131.340
Millions |
Note:
a)
6698325 Equity Shares are held by Bilcare Research GmbH,
the holding company.
b)
Reconciliation of the number of shares
|
Equity Shares |
Number
of Shares |
|
As at the beginning of the year |
13133971 |
|
Add/(Less) : Movements during the year |
-- |
|
As at the end of
the year |
13133971 |
c)
Details of equity shares held by shareholders
holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% Holding |
|
Bilcare Research GmbH |
6698325 |
51.00% |
|
K. C. Holdings Private Limited |
1072494 |
9.46% |
d)
The
equity shares of the Company having par value of Rs.10/- per share rank
pari-passu in all respects including voting rights and entitlement to dividend.
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 |
131.340 |
131.340 |
131.340 |
|
(b) Reserves & Surplus |
955.834 |
926.342 |
889.084 |
|
(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) |
1087.174 |
1057.682 |
1020.424 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
2.200 |
6.200 |
|
(c) Other long term
liabilities |
5.104 |
5.304 |
5.104 |
|
(d) long-term
provisions |
17.097 |
14.961 |
13.871 |
|
Total Non-current
Liabilities (3) |
22.201 |
22.465 |
25.175 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade
payables |
178.455 |
172.096 |
119.342 |
|
(c) Other current
liabilities |
121.243 |
105.888 |
111.732 |
|
(d) Short-term
provisions |
41.718 |
45.004 |
30.283 |
|
Total Current
Liabilities (4) |
341.416 |
322.988 |
261.357 |
|
|
|
|
|
|
TOTAL |
1450.791 |
1403.135 |
1306.956 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
167.726 |
192.769 |
205.407 |
|
(ii)
Intangible Assets |
4.524 |
4.077 |
4.365 |
|
(iii)
Capital work-in-progress |
0.399 |
0.000 |
0.046 |
|
(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) |
1.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
18.336 |
16.508 |
40.373 |
|
(e) Other Non-current
assets |
26.891 |
26.996 |
27.634 |
|
Total Non-Current
Assets |
218.876 |
240.350 |
277.825 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
366.679 |
278.841 |
296.188 |
|
(c) Trade
receivables |
573.625 |
630.334 |
526.305 |
|
(d) Cash
and cash equivalents |
207.638 |
174.769 |
122.673 |
|
(e)
Short-term loans and advances |
50.667 |
50.688 |
50.970 |
|
(f) Other
current assets |
33.306 |
28.153 |
32.995 |
|
Total Current
Assets |
1231.915 |
1162.785 |
1029.131 |
|
|
|
|
|
|
TOTAL |
1450.791 |
1403.135 |
1306.956 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2419.571 |
2205.909 |
1949.012 |
|
|
|
Other Income |
33.577 |
30.786 |
30.061 |
|
|
|
TOTAL (A) |
2453.148 |
2236.695 |
1979.073 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1753.201 |
1525.257 |
1341.117 |
|
|
|
Changes in inventories of Finished Goods, Work-in-Progress and Scrap |
(30.514) |
(0.623) |
(5.852) |
|
|
|
Employee benefits expense |
180.670 |
151.364 |
136.023 |
|
|
|
Other expenses |
433.390 |
422.348 |
367.290 |
|
|
|
TOTAL (B) |
2336.747 |
2098.346 |
1838.578 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
116.401 |
138.349 |
140.495 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.034 |
0.030 |
0.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
116.367 |
138.319 |
140.461 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
35.326 |
34.412 |
33.739 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
81.041 |
103.907 |
106.722 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
28.500 |
36.000 |
35.339 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
52.541 |
67.907 |
71.383 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
241.495 |
201.637 |
158.151 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
19.701 |
19.701 |
19.701 |
|
|
|
Tax on Dividend |
3.348 |
3.348 |
3.196 |
|
|
|
Transfer to General Reserve |
5.000 |
5.000 |
5.000 |
|
|
BALANCE CARRIED
TO THE B/S |
241.495 |
201.637 |
158.151 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
321.834 |
268.906 |
270.665 |
|
|
|
Marketing Services |
1.780 |
1.974 |
0.264 |
|
|
TOTAL EARNINGS |
270.880 |
270.929 |
239.986 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
486.079 |
412.534 |
337.206 |
|
|
|
Stores & Spares |
0.802 |
2.358 |
3.771 |
|
|
|
Capital Goods |
3.277 |
5.586 |
0.676 |
|
|
TOTAL IMPORTS |
490.158 |
420.478 |
341.653 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.00 |
5.17 |
5.43 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
98.626 |
144.096 |
73.668 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
2.17 |
3.08 |
3.66 |
|
|
|
|
|
|
|
Operating Profit Margin (PBITD/Sales) |
(%) |
4.81 |
6.27 |
7.21 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.59 |
7.41 |
8.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.10 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.61 |
3.60 |
3.94 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 78.40/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
131.340 |
131.340 |
131.340 |
|
Reserves & Surplus |
889.084 |
926.342 |
955.834 |
|
Net
worth |
1020.424 |
1057.682 |
1087.174 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image022.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1949.012 |
2205.909 |
2419.571 |
|
|
|
13.181 |
9.686 |
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image024.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
1949.012 |
2205.909 |
2419.571 |
|
Profit |
71.383 |
67.907 |
52.541 |
|
|
3.66% |
3.08% |
2.17% |
%20LIMITED%20-%20325193_MIRA%2030-May-2015_files/image026.gif)
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
----- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
No |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
----- |
|
33 |
Market information |
----- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
GENERAL INFORMATION
The Company is engaged in the business of manufacture of Rigid and
Flexible PVC film by Calendering process and Plastic Extruded products. It has
manufacturing facilities at Thane and Nasik and Branch offices in 8 cities. The
Company started commercial production in the year 1957.
OPPORTUNITIES,
THREATS AND OUTLOOK
The Company
foresees ample opportunity of growth in the coming years. With the growing
trend of mass consumerism and better living standards, demand for Company’s products
are expected to grow.
Though the Company
is a major player over decades, it faces competition in domestic market, as
similar products being made available by many local players belonging to the
unorganised sector. However, Company always remained as a preferred supplier in
respective segments being a consistent and quality supplier. The overall
capacity in the industry is significantly more than the overall demand leading
to price-cuts and discounts.
FINANCIAL PERFORMANCE
Company’s Gross Sales for the year stood at Rs.2660.000 Million compared to Rs.2420.000 Million during the previous year. Prices of major raw materials increased during the year. There were significant increases in the cost of power and fuel. Though the sales realization improved, it could not fully compensate for the input cost increase. The Company earned a profit (before tax) of Rs.81.000 Million as compared to Rs.104.000 Million in the previous year. Company’s financial position for ten (10) years is appended separately in the Annual Report.
UNAUDITED FINANCIAL RESULTS FOR THE THREE QUARTER AND HALF YEAR ENDED 31ST DECEMBER 2015.
(Rs. In Millions)
|
Particulars |
Quarter Ended ( Unaudited) |
12 Months Ended (Unaudited) |
|
|
|
31.03.2015 |
31.12.2014 |
31.03.2015 |
|
1.
Income from operations |
|
|
|
|
a) Net sales/ Income from operation (net of excise duty) |
556.065 |
639.829 |
2519.557 |
|
b) Other operating income |
11.717 |
7.486 |
36.275 |
|
Total
income from Operations(net) |
567.782 |
647.315 |
2555.832 |
|
2.Expenditure |
|
|
|
|
a) Cost of material consumed |
327.573 |
454.274 |
1720.176 |
|
b) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
65.520 |
(12.657) |
45.159 |
|
c) Employees benefit expenses |
51.343 |
50.722 |
50.060 |
|
d) Depreciation and amortization expenses |
11.614 |
7.732 |
34.467 |
|
e) Power and Fuel |
41.070 |
51.683 |
44.240 |
|
f) Other expenditure |
56.486 |
65.873 |
256.492 |
|
Total expenses |
553.606 |
617.627 |
2449.552 |
|
3. Profit from operations before other income and
financial costs |
14.176 |
29.688 |
106.280 |
|
4. Other income |
0.650 |
0.650 |
2.473 |
|
5. Profit from ordinary activities before finance costs |
14.826 |
30.338 |
108.753 |
|
6. Finance costs |
0.007 |
0.004 |
0.030 |
|
7. Net profit/(loss) from ordinary activities
after finance costs but before exceptional items |
14.819 |
30.334 |
108.723 |
|
8. Exceptional item |
-- |
-- |
-- |
|
9. Profit from ordinary activities before tax
Expense: |
14.819 |
30.334 |
108.723 |
|
10.Tax expenses |
4.900 |
10.900 |
38.200 |
|
11.Net
Profit / (Loss) from ordinary activities after tax (9-10) |
9.919 |
19.434 |
70.523 |
|
12.Extraordinary Items (net of tax expense) |
-- |
-- |
-- |
|
13.Net Profit / (Loss) for the period (11 -12) |
9.919 |
19.434 |
70.523 |
|
14.Paid-up
equity share capital (Nominal value Re. 1/- per share) |
131.340 |
131.340 |
131.340 |
|
15. Reserve excluding Revaluation
Reserves as per balance sheet of previous accounting year |
|
|
|
|
16.i) Earnings per share (before extraordinary
items) |
0.76 |
1.48 |
5.37 |
|
ii) Earnings per share (after extraordinary items) |
0.76 |
1.48 |
5.37 |
|
Particulars |
Quarter Ended ( Unaudited) |
12 Months Ended (Unaudited) |
|
|
|
31.03.2015 |
31.12.2014 |
31.03.2015 |
|
A. Particulars of shareholding |
|
|
|
|
1. Public Shareholding |
|
|
|
|
- Number of shares |
3687148 |
3808148 |
3687148 |
|
- Percentage of shareholding |
28.07 |
28.09 |
28.07 |
|
2. Promoters and Promoters group Shareholding- |
|
|
|
|
a) Pledged /Encumbered |
|
|
|
|
Number of shares |
6698325 |
6698325 |
6698325 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
70.91 |
71.83 |
70.91 |
|
Percentage of shares (as a % of total share capital of the
company) |
51.00 |
51.00 |
51.00 |
|
|
|
|
|
|
b) Non Encumbered |
|
|
|
|
Number of shares |
2748498 |
2627498 |
2748498 |
|
Percentage of shares (as a % of total shareholding of the
promoter and promoter group) |
29.09 |
28.17 |
29.09 |
|
Percentage of shares (as a % of total share capital of the
company) |
20.93 |
20.01 |
20.93 |
|
|
|
|
|
|
B.
Investor Complaints |
|
|
Pending at the beginning of the quarter |
Nil |
|
Receiving during the quarter |
2 |
|
Disposed of during the quarter |
2 |
|
Remaining unreserved at the end of the quarter |
Nil |
STATEMENT OF ASSETS AND LIABILITIES
|
SOURCES OF FUNDS |
31.03.2015 Audited |
|
I.
EQUITY
AND LIABILITIES |
|
|
(1)Shareholders'
Funds |
|
|
(a) Share Capital |
131.340 |
|
(b) Reserves & Surplus |
999.315 |
|
Sub
Total |
1130.655 |
|
|
|
|
(3) Non-Current Liabilities |
|
|
(a) long-term borrowings |
0.000 |
|
(b) Deferred tax liabilities (Net) |
4.904 |
|
(c) Other long term
liabilities |
20.643 |
|
(d) long-term
provisions |
0.000 |
|
Sub
Total |
25.547 |
|
|
|
|
(4) Current Liabilities |
|
|
(a) Short term
borrowings |
0.000 |
|
(b) Trade
payables |
203.347 |
|
(c) Other
current liabilities |
102.113 |
|
(d) Short-term
provisions |
46.549 |
|
Sub
Total |
352.009 |
|
TOTAL |
1508.211 |
|
|
|
|
II.
ASSETS |
|
|
(1) Non-current assets |
|
|
(a) Fixed
Assets |
161.342 |
|
(b) Non-current Investments |
0.000 |
|
(c) Deferred tax assets (net) |
11.515 |
|
(d) Long-term Loan and Advances |
36.150 |
|
(e) Other
Non-current assets |
27.148 |
|
Sub
Total |
236.155 |
|
|
|
|
(2) Current assets |
|
|
(a) Current
investments |
0.000 |
|
(b)
Inventories |
274.963 |
|
(c) Trade
receivables |
606.160 |
|
(d) Cash
and cash equivalents |
315.497 |
|
(e)
Short-term loans and advances |
26.026 |
|
(f) Other
current assets |
49.410 |
|
Sub
Total |
1272.056 |
|
|
|
|
TOTAL |
1508.211 |
Notes:
1. The Company is engaged mainly in processing of plastic
polymers and its products are covered under a single reportable segment as per
Accounting Standard on Segment Reporting (AS 17) issued by ICAI.
2. Consequent to Schedule II to the Companies Act, 2013, depreciation for the
current quarter and for the current quarter and for the current nine months is
lower by Rs 1.673 Million and Rs 4.128 Million respectively. Further in respect
of assets where the remaining useful life is NIL as on 1st April, 2014 the
residual value of the said assets has been adjusted against Opening balance of
retained earnings (net of deferred tax) amounting to Rs 3.322 Million.
3. The above results were approved by the Board of Directors at its meeting
held on February 11, 2015 and a 'Limited review1 of the same has been carried
out by the Auditors of the Company.
INDEX OF CHARGE:
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10475103 |
09/01/2014 |
172,500,000.00 |
BANK OF MAHARASHTRA |
READY MONEY TERRACE, DR. ANNIE BESANT ROAD, WORLI |
B95303384 |
FIXED ASSETS:
·
Leasehold Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
·
Computer Software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources including
but not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.76 |
|
UK Pound |
1 |
Rs. 97.80 |
|
Euro |
1 |
Rs. 69.91 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.