MIRA INFORM REPORT
|
Report No. : |
348149 |
|
Report Date : |
03.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
INDIA GELATINE AND CHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
703/704, ’Shilp’, 7th Floor, Near Municipal Market, Sheth C.G.
Road, Navrangpura, Ahmedabad – 380009, Gujarat |
|
Tel. No.: |
91-79-26469514 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
16.04.1973 |
|
|
|
|
Com. Reg. No.: |
04-002260 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 94.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L99999GJ1973PLC002260 |
|
|
|
|
IEC No.: |
0388048425 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMI00091A |
|
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|
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PAN No.: [Permanent Account No.] |
AAACI3676F |
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|
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|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Chemical Products like Ossein, Gelatin and DCP. |
|
|
|
|
No. of Employees
: |
93 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3385700 |
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|
Status : |
Good |
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|
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject was incorporated on 16th April, 1973. It is engaged
into business of manufacturing of chemical products viz Ossein, Gelatine and
DCP. It has fine track record. The company possesses a healthy financial profile marked by strong
networth base, zero debt and ample liquidity. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitment. The company can be considered good for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
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
31-03-2015.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(Contact No: 91-79-26469514)
LOCATIONS
|
Registered Office : |
703/704, ’Shilp’, 7th Floor, Near Municipal Market, Sheth C.G.
Road, Navrangpura, Ahmedabad – 380009, Gujarat |
|
Tel. No.: |
91-79-26469514 |
|
Fax No.: |
91-79-26465569 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
77/78, Mittal Chambers, 228, Nariman Point, Mumbai - 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-22021874/ 22020341 |
|
Fax No.: |
91-22-22845522 |
|
E-Mail : |
|
|
|
|
|
Factory: |
Plot No.1A, GIDC Industrial Estate, National Highway No.8, Vapi -
396195, Gujarat, India |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Viren C. Mirani |
|
Designation : |
Chairman and Managing Director |
|
Date of Birth/Age : |
50 Years |
|
Qualification : |
B. Com |
|
Experience : |
30 Years |
|
|
|
|
Name : |
Mr. Nayan C. Mlrani |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Shridhar N. Pittie |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Pradip P. Madhavji |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Jayprakash M. Tiwari |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs. Shefali V. Mirani |
|
Designation : |
Director |
|
Date of Birth/Age : |
05.12.1971 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
07.07.2014 |
KEY EXECUTIVES
|
Name : |
Ms. Preetal P. Mepani |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2015
|
Category of Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
2633006 |
28.01 |
|
|
1874599 |
19.94 |
|
|
1873496 |
19.93 |
|
|
1873496 |
19.93 |
|
|
6381101 |
67.88 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
6381101 |
67.88 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
3638 |
0.04 |
|
|
3638 |
0.04 |
|
|
|
|
|
|
109135 |
1.16 |
|
|
|
|
|
|
2202789 |
23.43 |
|
|
681394 |
7.25 |
|
|
21943 |
0.23 |
|
|
21943 |
0.23 |
|
|
3015261 |
32.08 |
|
Total Public shareholding (B) |
3018899 |
32.12 |
|
Total (A)+(B) |
9400000 |
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) |
9400000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Chemical Products like Ossein, Gelatin and DCP. |
|
|
|
|
Brand Names : |
-- |
|
|
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|
Agencies Held : |
-- |
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Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
93 (Approximately) |
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Bankers : |
· HDFC Bank Limited, Mumbai, Maharashtra, India · Citibank Limited, Mumbai, Maharashtra, India |
||||||||||||||||||||||
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Facilities : |
-- |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahendra N. Shah And Company Chartered Accountants |
|
Address : |
E Block, 3rd Floor, Capital Commercial Centre, Near Sanyas Ashram, Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26575085/ 086/ 66614445/ 26569780 |
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Fax No.: |
91-79-26584359 |
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E-Mail : |
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|
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Memberships : |
-- |
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|
|
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Collaborators : |
-- |
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|
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|
Enterprises having
common Key Management Personnel and/or their Relatives: |
· KVS Sohare Private Limited · Khimji Visram and Sons (Guj) Private Limited · Olive Finance and Investment Private Limited · Khimji Visram and Sons (Partnership Firm) · Khimji Visram and Sons (Commission Dept) (Partnership Firm) · Khimji Visram and Company (Partnership Firm) · K. V. Logistics Private Limited · K. V. Cotton Ginning and Pressing Company Private Limited · S.E. International |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12500000 |
Equity Shares |
Rs. 10/- each |
Rs. 125.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9400000 |
Equity Shares |
Rs. 10/- each |
Rs. 94.000
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
94.000 |
94.000 |
94.000 |
|
(b) Reserves & Surplus |
1091.016 |
1049.846 |
989.086 |
|
(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) |
1185.016 |
1143.846 |
1083.086 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
0.000 |
0.000 |
0.163 |
|
(b) Deferred tax liabilities (Net) |
79.432 |
90.411 |
93.592 |
|
(c)
Other long term liabilities |
0.484 |
0.484 |
0.484 |
|
(d)
long-term provisions |
88.115 |
83.587 |
141.256 |
|
Total
Non-current Liabilities (3) |
168.031 |
174.482 |
235.495 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
28.206 |
39.756 |
47.093 |
|
(c)
Other current liabilities |
23.519 |
5.024 |
7.130 |
|
(d)
Short-term provisions |
132.339 |
116.189 |
122.925 |
|
Total
Current Liabilities (4) |
184.064 |
160.969 |
177.148 |
|
|
|
|
|
|
TOTAL |
1537.111 |
1479.297 |
1495.729 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
471.303 |
486.301 |
515.632 |
|
(ii)
Intangible Assets |
1.549 |
5.070 |
6.705 |
|
(iii)
Capital work-in-progress |
8.940 |
5.050 |
20.046 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
126.742 |
133.200 |
137.441 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
84.932 |
61.881 |
150.244 |
|
(e)
Other Non-current assets |
3.286 |
8.820 |
0.000 |
|
Total
Non-Current Assets |
696.752 |
700.322 |
830.068 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.793 |
|
(b)
Inventories |
288.864 |
282.725 |
229.665 |
|
(c)
Trade receivables |
39.125 |
63.627 |
78.122 |
|
(d)
Cash and cash equivalents |
306.370 |
127.935 |
146.353 |
|
(e)
Short-term loans and advances |
197.011 |
296.924 |
202.539 |
|
(f)
Other current assets |
8.989 |
7.764 |
8.189 |
|
Total
Current Assets |
840.359 |
778.975 |
665.661 |
|
|
|
|
|
|
TOTAL |
1537.111 |
1479.297 |
1495.729 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1154.469 |
1209.254 |
1171.244 |
|
|
|
Other Income |
66.363 |
26.078 |
29.847 |
|
|
|
TOTAL (A) |
1220.832 |
1235.332 |
1201.091 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
554.491 |
559.473 |
494.021 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(20.672) |
(62.582) |
(43.978) |
|
|
|
Employees benefits expense |
48.421 |
39.071 |
37.302 |
|
|
|
Other expenses |
515.289 |
520.756 |
494.261 |
|
|
|
TOTAL (B) |
1097.529 |
1056.718 |
981.606 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
123.303 |
178.614 |
219.485 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.008 |
0.086 |
0.546 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
123.295 |
178.528 |
218.939 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.140 |
54.006 |
48.777 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
72.155 |
124.522 |
170.162 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.966 |
43.967 |
56.143 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
62.189 |
80.555 |
114.019 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods (FOB) |
798.642 |
803.140 |
605.397 |
|
|
TOTAL EARNINGS |
798.642 |
803.140 |
605.397 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Components – Spare Parts |
2.439 |
2.449 |
4.638 |
|
|
|
Capital Goods |
0.000 |
0.000 |
16.355 |
|
|
TOTAL IMPORTS |
2.439 |
2.449 |
20.993 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.62 |
8.57 |
12.13 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term Borrowing |
0.000 |
0.148 |
1.050 |
|
|
|
|
|
|
Cash Generated from Operations |
182.342 |
34.955 |
113.770 |
|
|
|
|
|
|
Net Cash Flow from Operating Activities |
170.042 |
(7.621) |
54.408 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
5.39 |
6.66 |
9.73 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
10.68 |
14.77 |
18.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.15 |
9.29 |
12.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.11 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.57 |
4.84 |
3.76 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
|
|
|
Market Value |
Rs. 83.65/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
94.000 |
94.000 |
94.000 |
|
Reserves & Surplus |
989.086 |
1049.846 |
1091.016 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
1083.086 |
1143.846 |
1185.016 |
|
|
|
|
|
|
Long-term borrowings |
0.163 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Current Maturities of
Long-Term Borrowings |
1.050 |
0.148 |
0.000 |
|
Total
borrowings |
1.213 |
0.148 |
0.000 |
|
Debt/Equity
ratio |
0.001 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1171.244 |
1209.254 |
1154.469 |
|
|
|
3.245 |
(4.530) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1171.244 |
1209.254 |
1154.469 |
|
Profit |
114.019 |
80.555 |
62.189 |
|
|
9.73% |
6.66% |
5.39% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
No |
|
8 |
Designation of contact person |
No |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
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 |
No |
|
32 |
Litigations that the firm/promoter
involved in |
Yes |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS:
|
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|
S.NO.
Name of the Petitioner Advocate On
Record 1
COMMISSIONER OF INCOME TAX NOTICE NOT RECD BACK for:
Applicant(s) |
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|
S.NO. Name of the Respondant Advocate
On Record 1
INDIA GELATINE and CHEMICALS Limited NOTICE NOT RECD BACK for
:Respondent(s) |
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Act INCOME-TAX ACT, 1961 |
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|
LowerCourt Details |
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|
S.No. LowerCourt CaseDetail LowerCourtName JudgeName Judgmentdate 1
RECTIFICATION DISTRICT -- 10/10/1995
APPLICATION COURT,
/326/1995
AHMEDABAD
RURAL |
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|
Office Details |
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|
S. No.
Filing Date Document Advocate Name Court Fee on Document Details Name
Document 1
15/08/2008 DOCUMENT NOTICE NOT RECD --- NOTICE
NOT RECD
BACK BACK:1
for PETITIONER(s) 2
15/08/2008 DOCUMENT NOTICE
NOT RECD --- NOTICE
NOT RECD
BACK
BACK:1
for PETITIONER(s) |
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|
Court
Proceedings |
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|
S. No.
Notified Date CourtCode Board Stage Action Coram Sr. No. 1
23/06/2009 6 -- FOR FINAL HEARING- NEXT DATE HONOURABLE INCOME TAX REFERENCE MR.JUSTICE A.L.DAVE |
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INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
80022489 |
11/10/2012 * |
40,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR
MARG BRANCH,, 66/80,MUMBAI SAMACH |
B60371028 |
* Date of charge modification
ECONOMIC SCENARIO
AND OUTLOOK:
The turnover of the companu has decreased by about 4.34% over the
previous year. Getatine sales have increased by 7.29% and whereas Ossein sales
have reduced by 33% during the year.
The performance of the company is adversely affected due to shortage of
raw materials leading to steep rise in raw material prices. Increase in
manpower, labour costs, freight and forwarding costs have also put pressure on
margins and operating profits during the year.
During the year, the company initiated steps for the upgraduation of its
effluent treatment facility by refurbishing some of the existing equipments as
well as modernization of the raw material grading facility. The Completion of
both these projects would take place during the current financial year of
2015-16. The above measures being undertaken by the company will allow benefits
to accure over time.
On account of the fail in oil prices and to the extent the Govt. of India
has allowed the reduction to be passed on to industrial consumers it has
resulted into a reduced cost of energy by 8.65%. This was due to the steps
implemented by the Company for changing over the source of its energy needs
from Natural Gas to Furnace Oil.
With the above mentioned steps being taken as well as other efforts to
find newer markets for the company’s products it is likely that the company
will be in apposition to achieve better results in the future.
OUTLOOK:
Sales for both Gelatine and Di-Calcium Phosphate may remain stable
barring any drastic change in export policies for the company’s product or any further unprecedented rise in raw
material costs. Ossein sales is likely to be on downward trend.
STATEMENT OF UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR
ENDED 30TH JUNE, 2015
(Rs. in Million)
|
PART I |
|
|
Particulars |
30.06.2015 |
|
|
(Unaudited) |
|
Income From
Operations |
|
|
a. Net Sales/ Income from Operations (Net of Excise Duty) |
264.130 |
|
b. Other Operating Income |
6.910 |
|
Total Income from
Operations (Net) |
271.040 |
|
Expenses |
|
|
a. Cost of material Consumed |
98.484 |
|
b. Purchase of Stock-in trade |
-- |
|
c. Increase/(Decrease) in inventory of finished Goods, work- in-progress and Stock-in-trade |
36.071 |
|
d. Power and Fuel |
42.673 |
|
d. Employees Benefit Expenses |
18.844 |
|
e. Depreciation and Amortisation Expenses |
13.500 |
|
f. Other expenses |
63.678 |
|
Total Expenses |
273.250 |
|
Profit from Operations
before Other Income, finance costs and Exceptional Items (1-2) |
(2.210) |
|
Other Income |
21.833 |
|
Profit from
ordinary activities before finance cost and exceptional items (3-4) |
19.623 |
|
Finance Costs |
0.010 |
|
Profit from ordinary
activities after finance costs and exceptional items but before (5-6) |
19.613 |
|
Exceptional items |
-- |
|
Profit from
ordinary activities before tax (7+8) |
19.613 |
|
Tax Expense |
|
|
Current tax |
1.718 |
|
Deferred tax provision/ (written back) |
(1.785) |
|
Net Profit from
ordinary activities after tax (9+10) |
19.680 |
|
Extraordinary Items |
-- |
|
Net Profit for the
period (11+12) |
19.680 |
|
Paid-up equity share capital (face value of Rs.10/- each) |
94.000 |
|
Reserves excluding Revaluation Reserve as per balance sheet of previous accounting Year |
|
|
Earning Per Share (before extraordinary items) (of Rs.10 each) (not annualized) |
|
|
Basic and Diluted |
2.09 |
|
Earning Per Share (after extraordinary items) (of Rs.10 each) (not annualized) |
|
|
Basic and Diluted |
2.09 |
|
|
|
|
PART II |
|
|
PARTICULARS OF
SHAREHOLDING |
|
|
Public Shareholding |
|
|
- No. of shares |
3017719 |
|
- Percentage of shareholding |
32.10% |
|
Promoter &
Promoter Group Shareholding |
|
|
a)
Pledged/Encumbered |
|
|
- No. of shares |
Nil |
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
Nil |
|
- Percentage of shareholding (as a % of the total share capital of the company) |
Nil |
|
b) Non-encumbered |
|
|
- No. of shares |
6382281 |
|
- Percentage of shareholding (as a % of the total shareholding of promoter and promoter group) |
100% |
|
- Percentage of shareholding (as a % of the total share capital of the company) |
67.09% |
|
INVESTOR COMPLAINTS |
3 Months ended 30.06.2015 |
|
Pending at the beginning of the quarter |
NIL |
|
Received during the quarter |
NIL |
|
Disposed of during the year |
NIL |
|
Remaining unresolved at the end of the quarter |
NIL |
NOTES:
1. The above results were reviewed by me Audit Committee and approved by the Board of Directors at their meetings held on 01/08/2015.
2. The Limited Review for the quarter ended 30/06/15 as required under clause
41 of Listing Agreement has been carried out by statutory auditors.
3. The figures for the quarter ended 31/3/2015 are the balancing figures
between audited figures for full financial year and published year to date
figures up to third quarter i.e. 31/12/2014.
4. During the quarter performance is adversely affected due to higher raw
material costs. The Employee benefit expenses for the quarter includes
provision for arrears of salary of staff of Rs. 7.400 Million.
5. The other income includes profit on sale of investments of Rs.162.18 during
current quarter.
6. The company is primarily engaged in single segment i.e. "Manufacturing
of Chemical Products".
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2014 (Rs.
In Million) |
31.03.2013 (Rs.
In Million) |
|
Bank Guarantees
issued |
|
|
|
GSPC Gas Company Limited |
12.567 |
16.739 |
|
Pollution Control Board |
0.000 |
0.500 |
|
Dakshin Gujarat Vij Company Limited |
12.917 |
8.229 |
|
|
|
|
|
Total |
25.484 |
25.468 |
FIXED ASSETS:
Tangible Assets
· Land (Freehold)
· Land (Leasehold)
· Buildings
· Plant and Equipment
· Furniture and Fixture
· Office Equipment
· Vehicle
· Laboratory 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 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. 65.48 |
|
|
1 |
Rs. 101.06 |
|
Euro |
1 |
Rs. 72.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
KMN |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
IND |
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 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
53 |
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.