MIRA INFORM REPORT
|
Report No. : |
349182 |
|
Report Date : |
16.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
TIRUPATI FIBRES AND INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Tirupati Nagar, Abu Road, District Sirohi - 307026, Rajasthan |
|
Tel. No.: |
91-22-66104541 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
09.05.1980 |
|
|
|
|
Com. Reg. No.: |
17-002030 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 35.416
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24302RJ1980PLC002030 |
|
|
|
|
IEC No.: |
0309043867 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JDHT01435A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCT1849C |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Textile and more specifically Synthetic Yarn. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (13) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company incorporated in the year 1980. It
has moderate track record. The company has reported minimal net profit from its operations.
However the networth position of the company has eroded due to previous years
losses. However, trade relations are fair. Business is active. Payment terms
are reported to be slow. In view of aforesaid, the company can be considered for business
dealings with fully safe and secured 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 PARTED BY [GENERAL DETAILS]
|
Name : |
Mr. Prem |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-66104541 |
|
Date : |
10.11.2015 |
LOCATIONS
|
Registered Office/ Factory : |
Tirupati Nagar, Abu Road, District Sirohi - 307026, Rajasthan, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
702, 7th Floor, Bombay Market Building, 78 Tridev Road,
Mumbai – 400034, Maharashtra, India |
|
Tel. No.: |
91-22-66104541 |
DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Haresh S, Jain |
|
Designation : |
Chairman and Managing Director |
|
|
|
|
Name : |
Mr. Nimesh S. Jain |
|
Designation : |
Joint Managing Director |
|
|
|
|
Name : |
Mr. Piyush R. Vora |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Prem |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of Shareholder |
Total No. of Shares |
As a % |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
510200 |
14.41 |
|
|
2145950 |
60.59 |
|
|
2656150 |
75.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
2656150 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
158800 |
4.48 |
|
|
158800 |
4.48 |
|
|
|
|
|
|
248375 |
7.01 |
|
|
|
|
|
|
86525 |
2.44 |
|
|
391750 |
11.06 |
|
|
726650 |
20.52 |
|
Total Public shareholding (B) |
885450 |
25.00 |
|
Total (A)+(B) |
3541600 |
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) |
3541600 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Textile and more specifically Synthetic Yarn. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· Turkey · Indonesia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· China · Japan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
1000 (Approximately) |
||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||
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||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjay N. Shah and Company Chartered Accountants |
|
Address : |
108, 1st Floor Sujata Niketan, Next to Railway Station, Rani Sati Road, Malad (East), Mumbai – 400097, Maharashtra, India |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Million |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4415000 |
Equity Shares |
Rs. 10/- each |
Rs. 44.150
Million |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3541600 |
Equity Shares |
Rs. 10/- each |
Rs. 35.416
Million |
|
|
|
|
|
Reconciliation
of number of shares
|
Shares
at the beginning of the year |
3,541,600 |
|
Add
: Shares issued during the year |
-- |
|
Less
: Reduction in share capital as per BIFR Order |
-- |
|
Outstanding
shares at the year end |
3,541,600 |
Shares
held by each shareholder holding more than 5% of the Shares
|
Ambaji
Resources and Credit Private Limited |
232,500 |
|
Marudhar
Yarns Private Limited |
1,334,100 |
|
Venketesh
Securites Limited |
302,500 |
|
Satya
Securites Private Limited |
200,000 |
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 |
35.416 |
35.416 |
35.416 |
|
(b) Reserves & Surplus |
(36.855) |
(37.242) |
(48.832) |
|
(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) |
(1.439) |
(1.826) |
(13.416) |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
125.580 |
125.580 |
125.580 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
6.731 |
8.697 |
9.456 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
132.311 |
134.277 |
135.036 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b)
Trade payables |
39.500 |
25.501 |
22.430 |
|
(c)
Other current liabilities |
3.903 |
3.919 |
4.999 |
|
(d)
Short-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities (4) |
43.403 |
29.420 |
27.429 |
|
|
|
|
|
|
TOTAL |
174.275 |
161.871 |
149.049 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
73.549 |
72.195 |
32.061 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
5.070 |
6.813 |
10.417 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
78.619 |
79.008 |
42.478 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
10.275 |
0.000 |
12.642 |
|
(c)
Trade receivables |
25.983 |
19.551 |
46.525 |
|
(d)
Cash and cash equivalents |
1.937 |
1.418 |
1.328 |
|
(e)
Short-term loans and advances |
51.449 |
57.888 |
40.953 |
|
(f)
Other current assets |
6.012 |
4.006 |
5.123 |
|
Total
Current Assets |
95.656 |
82.863 |
106.571 |
|
|
|
|
|
|
TOTAL |
174.275 |
161.871 |
149.049 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
210.134 |
199.938 |
90.964 |
|
|
|
Other Income |
6.216 |
6.407 |
7.593 |
|
|
|
TOTAL (A) |
216.350 |
206.345 |
98.557 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
213.005 |
163.034 |
92.365 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(8.411) |
12.642 |
(12.642) |
|
|
|
Employees benefits expense |
0.540 |
0.909 |
0.800 |
|
|
|
Job Work Charges |
1.834 |
12.610 |
1.313 |
|
|
|
Other expenses |
2.222 |
2.182 |
1.684 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
(41.403) |
|
|
|
TOTAL (B) |
209.190 |
191.377 |
42.117 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.160 |
14.968 |
56.440 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.787 |
1.872 |
1.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.373 |
13.096 |
55.402 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.895 |
1.414 |
0.494 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.478 |
11.682 |
54.908 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.478 |
11.682 |
54.908 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.14 |
3.30 |
15.50 |
|
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 |
8.685 |
43.560 |
81.931 |
|
|
|
|
|
|
Net cash from operating activities |
8.685 |
43.560 |
81.931 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2014 |
|
Type |
1st
Quarter |
|
Net Sales |
41.950 |
|
Total Expenditure |
39.140 |
|
PBIDT (Excl OI) |
2.810 |
|
Other Income |
0.190 |
|
Operating Profit |
3.000 |
|
Interest |
2.150 |
|
Exceptional Items |
0.000 |
|
PBDT |
0.850 |
|
Depreciation |
0.800 |
|
Profit Before Tax |
0.050 |
|
Tax |
0.000 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
0.050 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
0.050 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.23 |
5.84 |
60.36 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
3.41 |
7.49 |
62.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.27 |
7.22 |
36.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.33) |
(6.40) |
(4.09) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(87.27) |
(68.77) |
(9.36) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.20 |
2.82 |
3.89 |
STOCK
PRICES
|
Face Value |
Rs. 10/- |
|
|
|
|
Market Value |
Not traded on BSE in the last 30 days. |
FINANCIAL ANALYSIS
[all figures are in
Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
35.416 |
35.416 |
35.416 |
|
Reserves & Surplus |
(48.832) |
(37.242) |
(36.855) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
(13.416) |
(1.826) |
(1.439) |
|
|
|
|
|
|
Long-term borrowings |
125.580 |
125.580 |
125.580 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
125.580 |
125.580 |
125.580 |
|
Debt/Equity ratio |
-9.360 |
-68.773 |
-87.269 |
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 |
90.964 |
199.938 |
210.134 |
|
|
|
119.799 |
5.100 |
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 |
90.964 |
199.938 |
210.134 |
|
Profit |
54.908 |
11.682 |
0.478 |
|
|
60.36% |
5.84% |
0.23% |
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 |
Yes |
|
8 |
Designation of contact person |
Yes |
|
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 |
No |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90071875 |
16/10/1998 |
2,160,000.00 |
BANK OF BARODA |
INDUSTRIAL FINANCE
BRANCH, BARODA HOUSE; CAWASJI |
- |
|
2 |
90071869 |
31/10/1997 |
1,500,000.00 |
BANK OF BARODA |
INDUSTRIAL FINANCE
BRANCH, BARODA HOUSE; C.P. STREET; FORT, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90071849 |
07/03/1994 * |
3,000,000.00 |
PUNJAB NATIONAL
BANK |
ABU ROAD, JAIPUR,
RAJASTHAN, INDIA |
- |
|
4 |
90071847 |
30/07/1992 |
2,500,000.00 |
BANK OF BARODA |
INDUSTRIAL FINANCE
BRANCH, C.P. STREET; FORT, BOMBAY, MAHARASHTRA - 400001, INDIA |
- |
|
5 |
90071846 |
10/01/1994 * |
86,541,000.00 |
BANK OF BARODA |
INDUSTRIAL FINANCE
BRANCH, C.P. STREET; FORT, BOMBAY, MAHARASHTRA - 400002, INDIA |
- |
|
6 |
90071845 |
18/02/1992 |
500,000.00 |
BANK OF BARODA |
INDUSTRIAL FINANCE
BRANCH, C.P. STREET; FORT, BOMBAY, MAHARASHTRA - 400023, INDIA |
- |
|
7 |
90071790 |
08/08/1994 * |
2,000,000.00 |
PUNJAB NATIONAL
BANK |
ABU ROAD, SIROHI,
RAJASTHAN - 307026, INDIA |
- |
|
8 |
90071787 |
05/02/1992 * |
9,000,000.00 |
INDSUTRIAL FINANCE
CORPORATION OF INDIA |
BANK OF BARODA
BUILDING, 16; SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
- |
* Date of charge modification
CORPORATE
INFORMATION
Subject
is a Public Company domiciled in India and incorporated under the provision of
the Companies Act, 1956. The Company is engaged in TEXTILE & MORE
SPECIFICALY SYNTHETIC YARN.
GENERAL REVIEW
The company’s performance was not satisfactory during the year. The company could not achieve its turnover as well it could not achieve its target of Net Profit. The Directors are hopeful that the company shall be able to achieve its target of Net Profit in the year to come. The future of the company seems to be bright.
MANAGEMENT
DISSCUSSION AND ANALYSIS
INDUSTRY STRUCTURE
AND DEVELOPMENTS
The textile industry continued to pass through a difficult phase during the year under review due to the general-economic slowdown and lack of demand in domestic as well as export markets. During the .year the Indian economy recorded a lower growth rate of 6.75% compared to an average of 8% in the previous three years. Though the agriculture and service sectors performed well, weak industrial growth was a major contribution to India's slowdown. However, there is general awareness and concern about the need to revive industry and exploit its export potential. The government also plans to introduce various incentives to increase exports.
Therefore they expect that although yarn exports have had a setback on account of adverse economic conditions globally the international demand for' synthetic yarn is likely to increase and a better realization is expected in the future.
The Government of India has restarted the reconstructed TUF Scheme for loans sanctioned after 01/04/12 to the extent of the unutilized amount of the subsidy caps of Rs. 19720.000 Million or the sectoral caps there under, whichever is reached earlier.
PERFORMANCE REVIEW
AND ANALYSIS
The Company is only in one line of business, namely marketing of Synthetic Blended yarn. The Company has no activity outside India except the export of yarn manufactured in India. The Company has achieved an Operational Profit (PBIT) of Rs. 4.265 Million during the year 2013-2014 as against Rs.13.553 Million in previous year. The Company has earned a profit before tax amounting to Rs.0.479 Million during the year 2013-2014 as against Rs. 11.682 Million in the previous year. The Company aims to reduce the cost of production through various methods in future.
OUTLOOK
Although the outlook for the textile industry is uncertain, the Directors hope that foreseeable improvements in the international scenario along with a change in the product mix and development of new qualities, it would be possible to meet the challenges being faced by the Indian Textile Industry. The Company's strategy to maximize gains and reduce costs in order to meet market challenges continues.
UNAUDITED FINANCIAL RESULTS (PROVISIONAL) FOR THE QUARTER ENDED
30.06.2014
(RS.
IN MILLION)
|
Particulars |
3 Months Ended
30.06.2014 |
|
|
(Unaudited) |
|
Income from Operations |
|
|
Net Sales/Income from Operations |
41.948 |
|
Other Operating Income |
0.000 |
|
Total Income from
operations (net) |
41.948 |
|
|
|
|
Expenses |
|
|
(a) Increase/ Decrease in stock in trade and work
in progress |
(12.082) |
|
(b) Consumption of raw material |
0.000 |
|
(c) Purchase of
stock in trade |
50.542 |
|
(d) Employee benefit expenses |
0.225 |
|
(e) Depreciation and amortization expenses |
0.800 |
|
(f) Other Expenses |
0.457 |
|
Total Expenses |
39.942 |
|
Profit from Operations
before Other Income, Finance costs and Exceptional item |
2.006 |
|
Other Income |
0.192 |
|
Profit/ Loss from
Ordinary Activities before Finance costs and Exceptional item |
2.198 |
|
Finance costs |
2.150 |
|
Profit/ Loss from
Ordinary Activities after Finance costs but Exceptional item |
0.048 |
|
Exceptional
item |
0.000 |
|
Profit/ Loss from Ordinary Activities
before tax |
0.048 |
|
Tax Expenses |
|
|
- Current Tax |
0.000 |
|
- Deferred
Tax Liability/ Assets |
0.000 |
|
- Short/
Excess Provisions for Current Tax of earlier years |
0.000 |
|
Net Profit/ Loss from Ordinary Activities
after tax |
(2.121) |
|
Extraordinary
Items |
0.000 |
|
Net Profit for the period |
(2.121) |
NOTES:
· The above unaudited financial results have been approved by the Board of Directors at its meeting held on
· Previous year’s figures have been regrouped/ rearranged wherever necessary.
· During the quarter, no investor complaint was received. There were no complaints pending as on.
FIXED ASSETS:
·
Freehold Land
·
Non Factory Building
·
Factory Buildings
·
Office Premises
·
Residential Premises
·
Plant & Equipments
·
Electrical Installations
·
Furniture & Fixtures
·
Vehicles
·
Water Supply Installation
·
Air Conditioners
·
Computers
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. 66.14 |
|
|
1 |
Rs. 100.55 |
|
Euro |
1 |
Rs. 71.26 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
13 |
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.