MIRA INFORM REPORT
|
Report No. : |
343447 |
|
Report Date : |
02.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
EVEREST ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
Aroor Village, Sadasivapet Mandal, Medak – 502291, Telangana |
|
Tel. No.: |
91-8455-250113-115 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
19.02.1993 |
|
|
|
|
Com. Reg. No.: |
015426 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 92.730
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24230TG1993PLC015426 |
|
|
|
|
IEC No.: |
0991023234 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE4400F |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. [Suspended on BSE due to Penal reasons] |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Active Pharmaceutical Ingredients and
Intermediates. |
|
|
|
|
No. of Employees
: |
226 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 166000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1993 engaged in the manufacturing
and exporting of active pharmaceutical ingredients and intermediates. For the financial year ended 2015, company has reported 10.08% sales
turnover growth as compared to previous sales turnover and it has maintained
above average profitability margins at 1.55% during the year under a review. However, rating remain constrained on account of company’s modest
scale of operations in the highly fragmented and intensely competitive bulk
drugs segment, its weak financial risk profile marked by high gearing and low
net worth, and its working capital intensive nature of operations. Trade relations are reported as fair. Payments are reported to be slow
but correct. In view of aforesaid, the company can be considered for business
dealing with some caution. |
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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = B+ |
|
Rating Explanation |
Risk prone credit quality and very high
credit risk. |
|
Date |
September 30, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
September 30, 2014 |
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
(TEL. NO.: 91-8455-250113)
LOCATIONS
|
Registered Office/ Factory : |
Aroor Village, Sadasivapet Mandal, Medak – 502291, Telangana, India |
|
Tel. No.: |
91-8455-250113-115 |
|
Fax No.: |
91-8455-250114 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office
: |
Plot No. 127/128, 1st Floor, Amar Cooperative, Society, Opposite Madhapur Police Station Road, Near Durgam Cheruvu, Madhapur, Hyderabad – 500033, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23115956/ 40040783/ 23115951 |
|
Fax No.: |
91-40-23115954 |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. S. K Srihari Raju |
|
Designation : |
Director |
|
Date of Birth/Age : |
08.04.1952 |
|
Qualifications : |
MBBS, MD, DA |
|
Expertise in specific functional area : |
Corporate Management |
|
Date of Appointment : |
19.02.1993 |
|
|
|
|
Name : |
Mr. K. Ramakrishnam Raju |
|
Designation : |
Director |
|
Date of Birth/Age : |
09.06.1949 |
|
Qualifications : |
B. Sc. |
|
Expertise in specific functional area : |
Projects Manufacturing Operation, GM |
|
Date of Appointment : |
05.09.2009 |
|
|
|
|
Name : |
Mr. V. Swaminathan |
|
Designation : |
Director |
|
Date of Birth/Age : |
01.01.1952 |
|
Qualifications : |
B Pharma (H), MBA |
|
Expertise in specific functional area : |
Business Development and Marketing |
|
Date of Appointment : |
05.09.2009 |
|
|
|
|
Name : |
Mr. K. Easwer Reddy |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.05.1944 |
|
Qualifications : |
MD, FACR |
|
Expertise in specific functional area : |
Radiation Oncology, Doctor of Medicine |
|
Date of Appointment : |
31.08.2015 |
|
|
|
|
Name : |
Mr. Raju S. Kakarlapudi |
|
Designation : |
Director |
|
Date of Birth/Age : |
04.07.1946 |
|
Qualifications : |
B. Tech, M Tech in Chemical Engineering |
|
Expertise in specific functional area : |
Environment Management, General Management |
|
Date of Appointment : |
19.04.1995 |
|
|
|
|
Name : |
Mr. A. Parvatisem |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. K. Hari Krishna |
|
Designation : |
Director |
|
Date of Birth/Age : |
20.01.1979 |
|
Qualifications : |
(BE) MPIE |
|
Expertise in specific functional area : |
Projects, Administration |
|
Date of Appointment : |
29.09.2007 |
|
|
|
|
Name : |
Mr. Sreeramakrishna Grandhi |
|
Designation : |
Director |
|
Date of Birth/Age : |
26.07.1952 |
|
Qualifications : |
M. Sc. Chemistry, CAIIB |
|
Expertise in specific functional area : |
Finance |
|
Date of Appointment : |
30.07.2014 |
|
|
|
|
Name : |
Dr. S. K. Sirisha |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.12.1977 |
|
Qualifications : |
MBBS, MD |
|
Expertise in specific functional area : |
Regulatory Affairs, Business Development |
|
Date of Appointment : |
30.07.2014 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholders |
No. of Shares |
Percentage of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1278800 |
13.79 |
|
|
1312800 |
14.16 |
|
|
2591600 |
27.95 |
|
|
|
|
|
|
628600 |
6.78 |
|
|
628600 |
6.78 |
|
Total shareholding of Promoter and Promoter Group (A) |
3220200 |
34.73 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1600 |
0.02 |
|
|
11150 |
0.12 |
|
|
12750 |
0.14 |
|
|
|
|
|
|
385939 |
4.16 |
|
|
|
|
|
|
3123611 |
33.69 |
|
|
1333500 |
14.38 |
|
|
1197000 |
12.91 |
|
|
300 |
0.00 |
|
|
33900 |
0.37 |
|
|
1162800 |
12.54 |
|
|
6040050 |
65.14 |
|
Total Public shareholding (B) |
6052800 |
65.27 |
|
Total (A)+(B) |
9273000 |
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) |
9273000 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Active Pharmaceutical Ingredients and
Intermediates. |
|
|
|
|
Brand Names : |
-- |
|
|
|
|
Agencies Held : |
-- |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS [AS ON 31.03.2015]:
|
Name of the Products |
Installed
Capacity TPA |
|
Omeprazole |
180 |
|
Chloro Compound |
300 |
|
Benzimidazole |
180 |
|
Esomeprazole |
48 |
|
Pantaprazole |
60 |
|
Name of the Products |
Production (Qty
/ MTs) |
|
Omeprazole Powder |
141.89 |
|
Benzimidazole |
159.77 |
|
Chloro Compound |
246.79 |
|
Op. Sulphide |
230.08 |
|
Esomeprazole Magnesium |
46.91 |
|
Pantaprazole Sodium |
44.59 |
|
Ammonium Sulphate |
939.43 |
|
Tetralone |
33.25 |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
226 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Kotak Mahindra Bank Limited |
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
Statutory Auditors : |
|
|
Name : |
P.S.N. Ravi Shankar and Associates Chartered Accountants |
|
Address : |
Flat No. 205, II Floor, B-Block, Kushal Tower, Khairatabad, Hyderabad
- 500004, Andhra Pradesh, India |
|
Tel. No.: |
91-40-23320558/ 93381 |
|
Fax No.: |
91-40-23393381 |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Related Parties : |
· Virat & Co. · Veerat Finance and Investment Limited |
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9273000 |
Equity Shares |
Rs. 10/- each |
Rs. 92.730
Million |
|
|
|
|
|
Note: 1
No. of shares held
by individuals/entities each holding more than 5% of total stake
|
Name of
Shareholders |
No. of Shares |
% of Holding |
|
Veerat Finance and Investment Co. Limited |
1312800 |
14.16% |
|
S.K. Srihari Raju |
722000 |
7.79% |
Note: 2
There is no restriction on transferability of shares (presently the
shares are delisted on the share market)
Note: 3
Reconciliation of number of shares outstanding at the beginning and end
of the year
|
PARTICULARS |
No.
of Shares |
|
Shares issued and subscribed as on 01.04.2014 (92,73,000 Equity Shares of Rs. 10/- each fully paid up) |
92.730 |
|
Add: Issued during the year |
-- |
|
Less: Redemption/ Buyback |
-- |
|
Total Amount as per Balance Sheet (92,73,000 Equity
Shares of Rs. 10/- each fully paid up) |
92.730 |
Notes:
a)
There are no shares issued in last five years as
fully paid up pursuant to contracts without payment being received in cash.
b)
There are no shares issued in last five years as fully
paid up by way of bonus shares.
c)
There are no shares bought back in last five years.
d)
There are no calls unpaid.
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 |
92.730 |
92.730 |
92.730 |
|
(b) Reserves & Surplus |
(34.647) |
(51.181) |
(59.856) |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
7.270 |
|
Total
Shareholders’ Funds (1) + (2) |
58.083 |
41.549 |
40.144 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
112.853 |
101.056 |
46.811 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.078 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
112.853 |
101.056 |
46.889 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
106.193 |
133.450 |
112.002 |
|
(b)
Trade payables |
353.934 |
337.023 |
252.382 |
|
(c)
Other current liabilities |
25.609 |
33.907 |
103.932 |
|
(d)
Short-term provisions |
10.036 |
7.568 |
8.154 |
|
Total
Current Liabilities (4) |
495.772 |
511.948 |
476.470 |
|
|
|
|
|
|
TOTAL |
666.708 |
654.553 |
563.503 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
239.601 |
237.940 |
220.671 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
2.483 |
3.211 |
8.229 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.845 |
0.845 |
0.845 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.489 |
0.058 |
6.775 |
|
(e)
Other Non-current assets |
4.253 |
3.149 |
0.733 |
|
Total
Non-Current Assets |
247.671 |
245.203 |
237.253 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
84.737 |
83.666 |
84.912 |
|
(c)
Trade receivables |
289.328 |
278.840 |
198.483 |
|
(d)
Cash and cash equivalents |
10.499 |
10.868 |
10.436 |
|
(e)
Short-term loans and advances |
28.647 |
30.700 |
28.940 |
|
(f)
Other current assets |
5.826 |
5.276 |
3.479 |
|
Total
Current Assets |
419.037 |
409.350 |
326.250 |
|
|
|
|
|
|
TOTAL |
666.708 |
654.553 |
563.503 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
1059.769 |
960.440 |
796.441 |
|
|
|
Other Income |
5.305 |
7.066 |
1.939 |
|
|
|
TOTAL (A) |
1065.074 |
967.506 |
798.380 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
692.895 |
665.663 |
564.849 |
|
|
|
Changes in inventories of finished goods |
(7.030) |
0.884 |
(3.602) |
|
|
|
Work-in-progress |
16.510 |
1.221 |
1.405 |
|
|
|
Employees benefits expense |
65.872 |
57.247 |
46.504 |
|
|
|
Other expenses |
213.745 |
182.546 |
133.076 |
|
|
|
Extraordinary Items |
8.725 |
0.000 |
0.000 |
|
|
|
TOTAL (B) |
990.717 |
907.561 |
742.232 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
74.357 |
59.945 |
56.148 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
27.008 |
26.209 |
25.475 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.349 |
33.736 |
30.673 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
26.717 |
22.761 |
21.268 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
20.632 |
10.975 |
9.405 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.099 |
2.300 |
2.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
16.533 |
8.675 |
7.305 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
198.109 |
148.167 |
126.443 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.78 |
0.94 |
0.79 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
CURRENT
MATURITIES OF LONG TERM DEBT |
|
|
|
|
From Banks - Kotak Mahindra Bank Limited |
|
|
|
|
Term Loan - III |
0.000 |
0.000 |
5.149 |
|
Term Loan - IV |
0.000 |
3.130 |
11.598 |
|
Term Loan - V |
7.899 |
6.740 |
3.309 |
|
Kotak Prime Limited – Tata Indigo Manza Car Loan |
0.000 |
0.000 |
0.250 |
|
Kotak Prime Limited – Mahindra XUV 500 FWD W8 |
0.036 |
0.405 |
0.364 |
|
Working Capital Term Loan - I |
0.000 |
1.001 |
3.716 |
|
Working Capital Term Loan – II |
2.763 |
7.442 |
6.459 |
|
Reliance Capital Term Loan |
7.475 |
5.523 |
0.000 |
|
Magma Finance-Verna Car Loan |
0.000 |
0.194 |
0.260 |
|
Total |
18.173 |
24.435 |
31.105 |
|
|
|
|
|
|
Cash Generated from Operations |
41.388 |
11.109 |
71.551 |
|
|
|
|
|
|
Net Cash flow from (used in) Operations |
NA |
NA |
NA |
QUARTERLY RESULTS
|
PARTICULARS |
31.12.2015 |
|
Type |
3rd
Quarter |
|
Net Sales |
254.630 |
|
Total Expenditure |
238.610 |
|
PBIDT (Excl OI) |
16.020 |
|
Other Income |
0.760 |
|
Operating Profit |
16.780 |
|
Interest |
4.930 |
|
Exceptional Items |
0.000 |
|
PBDT |
11.850 |
|
Depreciation |
6.600 |
|
Profit Before Tax |
5.250 |
|
Tax |
1.100 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
4.150 |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
4.150 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.56 |
0.90 |
0.92 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.02 |
6.24 |
7.05 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.11 |
1.69 |
1.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36 |
0.26 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.08 |
6.23 |
4.73 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.85 |
0.80 |
0.68 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
|
|
|
Market Value |
Rs.3.85/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particulars |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
92.730 |
92.730 |
92.730 |
|
Reserves & Surplus |
(59.856) |
(51.181) |
(34.647) |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
7.270 |
0.000 |
0.000 |
|
Net
worth |
40.144 |
41.549 |
58.083 |
|
|
|
|
|
|
Long-term borrowings |
46.811 |
101.056 |
112.853 |
|
Short term borrowings |
112.002 |
133.450 |
106.193 |
|
CURRENT MATURITIES OF LONG-TERM DEBTS |
31.105 |
24.435 |
18.173 |
|
Total
borrowings |
189.918 |
258.941 |
237.219 |
|
Debt/Equity ratio |
4.731 |
6.232 |
4.084 |
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 |
796.441 |
960.440 |
1059.769 |
|
|
|
20.591 |
10.342 |
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 |
796.441 |
960.440 |
1059.769 |
|
Profit |
7.305 |
8.675 |
16.533 |
|
|
0.92% |
0.90% |
1.56% |
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 |
Yes |
|
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
|
CEA
47 / 2011 |
CEASR 2892 / 2008 |
CASE IS:PENDING |
|
PETITIONER |
|
RESPONDENT |
|
THE
COMMISSIONER OF CUSTOMS & CENTRAL EXCISE, HYD. |
VS |
M/S.
EVEREST ORGANICS LTD., MEDAK DIST., |
|
PET.ADV. : RAJASHEKAR
REDDY(SR SC FOR CBE&C) |
|
RESP.ADV. : SHAIK
JEELANI BASHA |
|
SUBJECT: CENTRAL
EXCISE APPEAL |
|
DISTRICT: VISAKHAPATNAM |
|
FILING
DATE: 24-09-2008 |
POSTING STAGE : FOR ORDERS
OF COURT |
|
|
REG.
DATE : 21-02-2011 |
LISTING DATE : |
STATUS : --------- |
|
HON'BLE
JUDGE(S): |
|
DEPUTY
REGISTRAR LIST |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10583937 |
30/07/2015 |
10,500,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI
AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C60729803 |
|
2 |
10582598 |
12/06/2015 |
7,037,300.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI
KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C60093804 |
|
3 |
10511884 |
27/06/2014 |
4,706,422.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI
KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
C14340558 |
|
4 |
10453646 |
30/09/2013 |
18,300,000.00 |
RELIANCE CAPITAL LIMITED |
"H" BLOCK 1ST FLOOR, DHIRUBHAI AMBANI
KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA - 400710, INDIA |
B86884582 |
|
5 |
10381424 |
20/02/2013 * |
239,600,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN
POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B72302847 |
|
6 |
10264029 |
29/01/2011 |
4,735,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN
POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B04445037 |
|
7 |
10264035 |
29/01/2011 |
50,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN
POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B04452710 |
|
8 |
10165115 |
30/05/2009 |
30,600,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
A65151482 |
|
9 |
10154628 |
24/04/2013 * |
239,600,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN
POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B74330606 |
|
10 |
10136085 |
26/12/2008 |
20,000,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN BHAVAN, 227, D, NARIMAN
POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A53764064 |
|
11 |
90138378 |
07/11/2002 |
10,000,000.00 |
STATE BANK OF TRAVANCORE |
KUSHAL CHAMBERS, KOTI, HYDERABAD, ANDHRA
PRADESH, |
- |
|
12 |
90262203 |
05/10/2002 |
15,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD;
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
- |
|
13 |
90262057 |
11/06/2001 |
24,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD;
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
- |
|
14 |
90263297 |
06/01/2009 * |
74,000,000.00 |
PHOENIX ARC PRIVATE LIMITED |
240 NAVSARI BUILDING, 1ST FLOOR D.N.ROAD,
MUMBAI, |
A58704123 |
|
15 |
80053388 |
30/06/2004 * |
40,000,000.00 |
ASSET RECONSTRUCTION COMPANY (INDIA)
LIMITED |
SHREEPATI ARCADE, AUGUST KRANTI MARG, NANA CHOWK,
MUMBAI, MAHARASHTRA - 400036, INDIA |
A62115597 |
|
16 |
90140106 |
18/06/1998 |
58,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN RAOD;
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
- |
|
17 |
90137948 |
15/09/2000 * |
91,200,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RAJBHAVAN ROAD;
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH, INDIA |
- |
|
18 |
90137684 |
01/08/1996 * |
20,000,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, RAJ BHAVAN RAOD;
SOMAJIGUDA, HYDERABAD, ANDHRA PRADESH - 500082, INDIA |
- |
|
19 |
80053390 |
30/06/2004 * |
52,500,000.00 |
ASSET RECONSTRUCTION COMPANY (INDIA)
LIMITED |
SHREEPATI ARCADE, AUGUST KRANTI MARG, NANA CHOWK,
MUMBAI, MAHARASHTRA - 400036, INDIA |
A62042072 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULARS |
31.03.2015 (Rs.
In Million) |
31.03.2014 (Rs.
In Million) |
|
LONG-TERM BORROWINGS |
|
|
|
Unsecured Loans from Directors and near Relatives |
30.359 |
24.721 |
|
Inter Corporate Deposits from Veerat Finance and Investment Limited
NBFC (two of their directors of NBFC are relatives of the M.D of the
Company) |
51.094 |
34.697 |
|
Security Deposit from Employees |
7.162 |
1.908 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on Demand |
|
|
|
From other parties |
0.000 |
27.094 |
|
|
|
|
|
Total |
88.615 |
88.420 |
OPERATIONS:
During the financial year, the turnover of the Company increased by Rs
97.568 Million registering a growth of 10.08% over the previous Year.
The PAT (Profit after Tax) of the company at Rs 16.533 Million recorded
an increase of 90.58% in the year, having risen by Rs. 7.858 Million over the
previous year.
There was no change in nature of the business of the Company, during the year.
UNAUDITED
RESULTS FOR THE QUARTER ENDED 30TH JUNE, 2015
(RS.
IN MILLION)
|
PARTICULARS |
Quarter Ended (Unaudited) |
|
|
30.06.2015 |
|
Income from Operations |
|
|
Net Sales/Income from Operations |
254.627 |
|
Other Operating Income |
0.000 |
|
Total Income from
operations (net) |
254.627 |
|
|
|
|
Expenses |
|
|
(a) Cost of Material consumed |
156.833 |
|
(b) Purchase of stock in trade |
0.000 |
|
(c) Changes in inventories of finished goods, work in
progress and stock in trade |
8.577 |
|
(d) Employee benefit expenses |
16.848 |
|
(e) Depreciation and amortization expenses |
6.600 |
|
(f) Power and Fuel |
20.473 |
|
(g) Other Expenses |
35.877 |
|
Total Expenses |
245.208 |
|
Profit from Operations
before Other Income, Finance costs and Exceptional item |
9.418 |
|
Other Income |
0.762 |
|
Profit/ Loss from Ordinary
Activities before Finance costs and Exceptional item |
10.180 |
|
Finance costs |
4.933 |
|
Profit/ Loss from
Ordinary Activities after Finance costs but Exceptional item |
5.247 |
|
Exceptional
item |
0.000 |
|
Profit/ Loss from Ordinary Activities before
tax |
5.247 |
|
Tax Expenses |
1.100 |
|
Net Profit/ Loss from Ordinary Activities
after tax |
4.147 |
|
Extraordinary
Items |
0.000 |
|
Net Profit for the period |
4.147 |
|
Paid- up
Equity Share Capital (Face value of the share – Rs. 10) |
92.730 |
|
Reserves
excluding revaluation reserves as per balance sheet of Previous Accounting
Year |
|
|
Earnings per
share (before extraordinary items) (of Rs. 10/- each) (not annualized) |
|
|
Basic |
0.45 |
|
Diluted |
0.45 |
|
|
|
|
PARTICULARS OF SHAREHOLDING |
|
|
1. Public
shareholding |
|
|
Number of
Shares |
6052800 |
|
Percentage of Shareholding |
65.27% |
|
2. Promoters
and promoter group shareholding |
|
|
a)
Pledged/Encumbered |
|
|
- Number of Shares |
-- |
|
- Percentage of Shares (as a % of the Total Shareholding
of promoter and promoter group) |
-- |
|
- Percentage of Shares (as a % of the Total Share Capital
of the Company) |
-- |
|
|
|
|
Non - encumbered |
|
|
- Number of
Shares |
9273000 |
|
- Percentage of
Shares (as a % of
the total shareholding of promoter and promoter group) |
34.73% |
|
- Percentage
of Shares (as a % of
the total share capital of the company) |
100.00% |
|
|
Particulars |
Quarter
Ended 30.06.2015 |
|
B |
Investor
complaints (Nos.) |
|
|
|
Pending at the beginning of the quarter |
Nil |
|
|
Received during the quarter |
Nil |
|
|
Disposed of during the quarter |
Nil |
|
|
Remaining unresolved at the end of the quarter |
Nil |
NOTES:
1)
The above results were reviewed by the Audit Committee
of Directors and taken on record by the Board of Directors at their meeting
held on 30.07.2014
2)
The Accounting Standard 17 relating to Segment
wise reporting is not applicable to the company.
3)
There were no complaints from investors
outstanding at the beginning of the Quarter ended 30th June, 2015 and the
Company has not received any complaints during the quarter ended 30th, June,
2015
4)
Previous period / year figures have been
regrouped wherever necessary.
CONTINGENT
LIABILITIES (AS ON 31.03.2015):
1)
Letters of Credit established by the Kotak Mahindra
Bank on behalf of the Company Rs.42.136 Million (Previous year – Rs.34.140
Million).
2)
Bank Guarantees issued by the Kotak Mahindra Bank
on behalf of the company Rs.1.000 Million. (Previous year- Rs.1.000 Million)
FIXED ASSETS:
· Land and Land Development
· Factory Buildings
· Plant and Machinery and Utilities
· Office Equipment
· Computers
· 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. 65.55 |
|
|
1 |
Rs. 99.17 |
|
Euro |
1 |
Rs. 73.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SUP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
32 |
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.