MIRA INFORM REPORT
|
Report No. : |
345785 |
|
Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
VTM LIMITED |
|
|
|
|
Registered
Office : |
Sulakarai, Virudhunagar, District Ramnad - 626003, Tamilnadu |
|
Tel. No.: |
91-4562-252019 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2015 |
|
|
|
|
Date of
Incorporation : |
27.07.1946 |
|
|
|
|
Com. Reg. No.: |
18-003270 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 40.228
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17111TN1946PLC003270 |
|
|
|
|
IEC No.: |
2888001730 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MRIV00353D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV3775E |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Cotton Fabrics. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
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|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject was incorporated on 27th July, 1946. It
manufactures cotton fabric at its factory in Sulakarai (Tamilnadu). The
company is promoted by Mr. T. Kannan. It is an old and well established company,
having a fine track record. The company possesses a healthy profile marked by adequate networth
base along with ample liquidity and good profitability. Trade relations are fair. Business is active. Payment terms are regular
and as per commitments. In view of established market position in the cotton fabric segment,
the company can be considered normal for business 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
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating= BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
31.03.2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating= A2+ |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
31.03.2015 |
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 DENIED
Management Non Co-operative (91-452-2482595 / 2549-280620)
LOCATIONS
|
Registered Office/ Factory : |
Sulakarai, Virudhunagar, District Ramnad - 426003, Tamilnadu, India |
|
Tel. No.: |
91-4562-252019/ 252907/ 234801 |
|
Fax No.: |
91-4562-288551 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Thiru T Kannan |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Dr. (Smt) Uma Kannan |
|
Designation : |
Director |
|
|
|
|
Name : |
Thiru K. Thiagarajan |
|
Designation : |
Director |
|
|
|
|
Name : |
Thiru R.M. Somasundaram |
|
Designation : |
Director |
|
|
|
|
Name : |
Thiru L.N.V. Subramanian |
|
Designation : |
Director |
|
|
|
|
Name : |
Thiru A. Mariappan |
|
Designation : |
Director |
|
|
|
|
Name : |
Thiru M. Murugesan |
|
Designation : |
Director |
|
|
|
|
Name : |
Thiru PL. Subbiah |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Thiru S Paramashivan |
|
Designation : |
Company Secretary |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholder |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
(1) Indian |
|
|
|
|
1613400 |
4.01 |
|
|
5518300 |
13.72 |
|
|
23038000 |
57.27 |
|
|
23038000 |
57.27 |
|
|
30169700 |
75.00 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
30169700 |
75.00 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
|
|
|
|
292122 |
0.73 |
|
|
|
|
|
Individual shareholders holding nominal share capital up
to Rs.0.100 million |
6666010 |
16.57 |
|
Individual shareholders holding nominal share capital in
excess of Rs.0.100 million |
2924477 |
7.27 |
|
|
175291 |
0.44 |
|
|
45324 |
0.11 |
|
|
3967 |
0.01 |
|
|
66000 |
0.16 |
|
|
60000 |
0.15 |
|
|
10057900 |
25.00 |
|
Total Public shareholding (B) |
10057900 |
25.00 |
|
Total (A)+(B) |
40227600 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
40227600 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton Fabrics. |
|
|
|
|
Products : |
Cotton Fabrics |
|
|
|
|
Brand Names : |
Not Divulged |
|
|
|
|
Agencies Held : |
Not Divulged |
|
|
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|
Exports : |
Not Divulged |
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|
|
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Imports : |
Not Divulged |
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|
|
|
Terms : |
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|
Selling : |
Not Divulged |
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|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS – NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Auditors : |
|
|
Name : |
Peri Thiagraj and Company Chartered Accountants |
|
Address : |
Madurai, Tamilnadu, India |
|
|
|
|
Collaborators : |
Not Divulged |
|
|
|
|
Membership : |
Not Divulged |
|
|
|
|
Associated Company
: |
Colour Yarns Limited |
|
|
|
|
Enterprises in
which Key Management Personnel have significant influence : |
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
Re.1/- each |
Rs.100.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40227600 |
Equity Shares |
Re.1/- each |
Rs. 40.228
Million |
|
|
|
|
|
Other Information:
1. The company has issued only one class of shares referred to as equity
shares having paid up value of Re. 1/- per share and each shareholder is
entitled to one vote per share.
2. The company declares dividend on equity shares. In the event of
declaration of interim dividend, the same is as per decision of the Board of
Directors. Final dividend is proposed by Board of Directors and approved by the
shareholders of the company at the Annual General Meeting.
3. In the event of liquidation, shareholder will be entitled to receive
remaining assets of the company after distribution of all preferential amount.
The distribution will be in proportion to the no. of equity share held by the
shareholder.
4. The company has Neither Holding nor any Subsidiary Company.
5. During the last five year immediately preceding the date of Balance
Sheet, the company has neither issued any shares as Bonus Shares nor for
consideration other than cash and has not bought back any shares.
6. During the year, the company splitted its Rs. 10/- paid up per share into
Re.1/- paid up per shares in October, 2012.
7. Equity Shares Include.
Particulars of equity shareholders holding more than 5% of the total
number of equity shares
|
Shareholders |
No. of Shares |
Rs. In Million |
|
T. Kannan, Partner, Guruvayoorappan
Investments |
7,520,000 |
7.520 |
|
T Kannan, Partner, Avittam Investments |
7,500,000 |
7.500 |
|
T Kannan, Partner, Karunuttu Investment |
6,190,000 |
6.190 |
|
Thiagarajar Mills Private Limited |
2,678,000 |
2.678 |
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 |
40.228 |
40.228 |
40.228 |
|
(b) Reserves & Surplus |
1151.456 |
1094.531 |
1014.413 |
|
(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) |
1191.684 |
1134.759 |
1054.641 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
52.670 |
16.340 |
17.907 |
|
(b) Deferred tax liabilities (Net) |
51.264 |
48.064 |
57.746 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
1.373 |
0.978 |
|
Total Non-current
Liabilities (3) |
103.934 |
65.777 |
76.631 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
17.332 |
1.694 |
0.121 |
|
(b) Trade
payables |
21.757 |
31.329 |
21.937 |
|
(c) Other
current liabilities |
8.417 |
9.564 |
11.165 |
|
(d) Short-term
provisions |
43.332 |
44.211 |
11.056 |
|
Total Current
Liabilities (4) |
90.838 |
86.798 |
44.279 |
|
|
|
|
|
|
TOTAL |
1386.456 |
1287.334 |
1175.551 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
468.201 |
492.540 |
558.249 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
20.034 |
20.034 |
20.034 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
3.787 |
3.787 |
3.696 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
21.675 |
5.418 |
13.028 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
513.697 |
521.779 |
595.007 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
332.748 |
170.000 |
0.000 |
|
(b)
Inventories |
234.310 |
234.348 |
173.708 |
|
(c) Trade
receivables |
172.926 |
159.522 |
206.769 |
|
(d) Cash
and cash equivalents |
93.723 |
162.573 |
159.862 |
|
(e)
Short-term loans and advances |
39.052 |
39.112 |
40.205 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
872.759 |
765.555 |
580.544 |
|
|
|
|
|
|
TOTAL |
1386.456 |
1287.334 |
1175.551 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
1678.227 |
1691.582 |
1431.842 |
|
|
|
|
Other Income |
31.889 |
25.106 |
30.895 |
|
|
|
|
TOTAL (A) |
1710.116 |
1716.688 |
1462.737 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
1275.504 |
1276.855 |
1001.805 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress |
4.446 |
(63.076) |
19.415 |
|
|
|
|
Employee Benefits Expenses |
92.505 |
80.018 |
65.075 |
|
|
|
|
Other Expenses |
173.151 |
172.836 |
128.390 |
|
|
|
|
TOTAL (B) |
1545.606 |
1466.633 |
1214.685 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
164.510 |
250.055 |
248.052 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
1.763 |
2.506 |
0.838 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
162.747 |
247.549 |
247.214 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
51.905 |
89.521 |
86.570 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
110.842 |
158.028 |
160.644 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
31.197 |
44.938 |
37.456 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
79.645 |
113.090 |
123.188 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY ON FOB |
272.528 |
123.152 |
78.684 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Stores & Spares |
21.161 |
12.492 |
20.202 |
|
|
|
|
Capital Goods |
11.279 |
3.164 |
73.769 |
|
|
|
TOTAL IMPORTS |
32.440 |
15.656 |
93.971 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
1.98 |
2.81 |
3.06 |
||
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash from operating activities |
(0.325) |
(0.010) |
1.160 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin PAT / Sales |
(%) |
4.75 |
6.69 |
8.60 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
9.80 |
14.78 |
17.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets) |
(%) |
8.13 |
12.51 |
13.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.14 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
9.61 |
8.82 |
13.11 |
STOCK
PRICES
|
Face Value |
Rs.1.00/- |
|
Market Value |
Rs.21.60/- |
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 |
40.228 |
40.228 |
40.228 |
|
Reserves & Surplus |
1014.413 |
1094.531 |
1151.456 |
|
Net
worth |
1054.641 |
1134.759 |
1191.684 |
|
|
|
|
|
|
long-term borrowings |
17.907 |
16.340 |
52.670 |
|
Short term borrowings |
0.121 |
1.694 |
17.332 |
|
Total
borrowings |
18.028 |
18.034 |
70.002 |
|
Debt/Equity
ratio |
0.017 |
0.016 |
0.059 |
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 |
1431.842 |
1691.582 |
1678.227 |
|
|
|
18.140 |
(0.789) |
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
|
1431.842 |
1691.582 |
1678.227 |
|
Profit |
123.188 |
113.090 |
79.645 |
|
|
8.60% |
6.69% |
4.75% |
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) |
No |
|
16 |
No. of employees |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATING AND FINANCIAL
PERFORMANCE
The year witnessed a fall in profits on account of drop in demand for textile products. Textile exports witnessed a fall especially to China as a result of a serious slowdown in their economy. Indian markets continue to be sluggish as growth in the rural segment of the economy seems quite low. The year also witnessed a fall in cotton prices and consequently the unit value realization of company's products were impacted negatively. Against this backdrop the company's performance must be considered as satisfactory.
ISO CERTIFICATION
The Company's factory at Sulakarai, Virudhunagar, Tamil Nadu has been certified ISO for Quality Management Systems Standards.
SEGMENT WISE
PERFORMANCE
The Company is primarily a manufacturer of textile products and is managed organizationally as a single unit. Accordingly, the Company is a single business segment company. Geographical (secondary) segment has been identified as domestic sales and exports.
INDUSTRY STRUCTURE AND DEVELOPMENTS,
OPPORTUNITIES AND THREATS, OUTLOOK, RISKS AND CONCERNS
The Indian textile industry has come to occupy a predominant position on the world scene. India together with its Asian counterparts has become the clothier to the world. The Indian textile industry derives its strength from the availability of home grown raw material together with well-developed indigenous technological knowhow and skilled man power. The industry receives support from the Government in terms of Technology Upgradation Fund Scheme interest subsidy and export incentive of about 2%. The industry is anxiously waiting for the new Government to unveil its textile policy. These represent the opportunities that lie ahead of the Indian textile industry and your Company.
The threats to these opportunities come from an unstable economic outlook in the importing countries, trade harriers imposed by them and inflationary pressures on our inputs. Power is a main ingredient, it has doubled in the last eight years. Availability of competitively priced uninterrupted power is essential for the stable operations of the Company's business. The power situation as it prevailed in Tamil Nadu a few years ago was extremely precarious. It has now shown improvement though the cost of the power is higher when compared to other States of India.
The Company is taking steps for development and implementation of risk management policy. The element of risk that may threaten the company is the uncertainty in the overseas market on which the company depends for its exports. Further, in the domestic market there is a risk of competition from a large number of textile units.
The Directors look forward to the current year with hope and optimism. They expect the export markets to stabilize and a large crop of Indian cotton is expected to stabilize cotton prices. This will help the Company to improve its business and operate in a profitable manner.
UNSECURED LOAN:
|
Particulars |
31.03.2015 Rs.
In Million |
31.03.2014 Rs.
In Million |
|
Long Term Borrowings |
|
|
|
Lease rent advance |
10.070 |
10.070 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Other loans and
advances |
|
|
|
Security deposit |
0.132 |
0.127 |
|
|
|
|
|
Total |
10.202 |
10.197 |
UNAUDITED FINANCIAL
RESULTS FOR THE QUARTER ENDED 30.06.2015
Rs.
In Million
|
Particulars |
Quarter ended30.06.2015 |
|
|
Unaudited |
|
|
|
|
Net Sales/ Income from Operations |
403.538 |
|
Other Operating Income |
0.000 |
|
Total income
from operation |
403.538 |
|
Expenditure |
|
|
a) Cost of Materials Consumed |
287.375 |
|
b) Change in inventories of finished goods, work in progress & stock in trade |
3.216 |
|
c) Employee benefits expense |
23.455 |
|
d) Depreciation and amortization expense |
12.900 |
|
e) Other expenses |
48.097 |
|
Total |
375.043 |
|
Profit from
operations before Other Income, Interest and Exceptional Items (1-2) |
28.495 |
|
Other Income |
15.934 |
|
Profit before Interest and Exceptional Items (3+4) |
44.429 |
|
Interest |
0.645 |
|
Profit after Interest but before Exceptional Items (5-6) |
43.784 |
|
Exceptional Items |
0.000 |
|
Profit (+)/ Loss (-) from Ordinary Activities before tax (7+8) |
43.784 |
|
Tax expense |
4.400 |
|
Net Profit (+)/ Loss (-) from Ordinary Activities after tax (9-10) |
39.384 |
|
Extraordinary Items (Net of tax expense) |
0.000 |
|
Net Profit (+)/ Loss (-) for the period |
39.384 |
|
Paid-up equity share capital (Face value of Re.1/- each) |
40.228 |
|
Reserves excluding Revaluation Reserves as per balance sheet of
previous accounting year |
|
|
Earnings per
share |
|
|
Before Extraordinary items (not annualized) |
|
|
- Basic (Rs.) |
0.98 |
|
- Diluted (Rs.) |
0.98 |
|
|
|
|
|
|
|
Public Shareholding |
|
|
- No. of shares |
10057900 |
|
- Percentage of shareholding |
25.00 |
|
Promoters and promoter group shareholding |
|
|
Pledged/ Encumbered |
Nil |
|
Non-encumbered |
|
|
- No. of shares |
30169700 |
|
- Percentage of shares (as a % of the total shareholding of promoter and promoter group) |
100.00 |
|
- Percentage of shares (as a % of the total share capital of the company) |
75.00 |
|
|
|
|
|
|
|
INVESTOR
COMPLAINTS |
|
|
Pending at the beginning of the quarter |
1 |
|
Received during the quarter |
3 |
|
Disposed during the quarter |
3 |
|
Remaining unresolved at the end of the quarter |
1 |
NOTES:
1. The Company is operating under one business segment only viz., Textiles.
2. There are no exceptional or Extra-ordinary items.
3. The above quarterly results for the period ended 30-06-2015 as recommended by the Audit committee of the Board, has been approved by the Board of Directors at its meeting held on July 27, 2015.
4. Deferred Tax Liability will be considered at the time of finalization of accounts.
5. Previous year figures have been regrouped, wherever necessary.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10287963 |
06/05/2011 |
250,000,000.00 |
STANDARD CHARTERED BANK |
NO.18, RAJAJI SALAI,, CHENNAI, TAMIL NADU -600001, INDIA |
B13342712 |
|
2 |
90290321 |
07/10/2008 * |
920,000,000.00 |
IDBI BANK LIMITED |
1/1, KARTHIKRAJA COMPLEX, VINAYAGANAGAR, MELUR ROAD, K.K. NAGAR, MADURAI, TAMIL NADU - 625020, INDIA |
A47411467 |
|
3 |
90297902 |
14/09/2012 * |
224,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANC, 6A, WEST VELI STREET, MADURAI, TAMIL NADU - 625001, INDIA |
B59486944 |
|
4 |
90297854 |
29/03/2000 |
50,000,000.00 |
ABN-AMRO BANK N.V. |
19/1; HADDOWS ROAD, CHENNAI, TAMIL NADU - 600006, INDIA |
- |
|
5 |
90296464 |
30/03/1999 |
30,000,000.00 |
STANDARD CHARTERED BANK |
58; AMENIAN STREET, CHENNAI, TAMIL NADU - 600001, INDIA |
- |
|
6 |
90297726 |
20/11/1998 * |
50,000,000.00 |
ABN-AMRO BANK N.V. |
19/1; HADDOWS ROAD, CHENNAI, TAMIL NADU - 600006, INDIA |
- |
|
7 |
90296016 |
11/05/1988 |
1,500,000.00 |
CANARA BANK |
J.C. ROAD, BANGALORE, KARNATAKA - 560027, INDIA |
- |
|
8 |
90296747 |
19/03/1987 |
640,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LTD. |
125; MARSHALLS ROAD; EGMORE, MADRAS, TAMIL NADU - 600008, INDIA |
- |
|
9 |
90295899 |
12/05/1988 * |
9,000,000.00 |
STATE
INDUSTRIES PROMOTION CORPORATION O TAMILNADU |
NO.51; & 52; GREMS ROAD, THOUSAND LIGHTS, CHENNAI, TAMIL NADU - 600306, INDIA |
- |
|
10 |
90296677 |
24/04/1981 |
200,000.00 |
NEW BANK OF INDIA |
11/12; EAST AVANI MOOLA, MADURAI, TAMIL NADU - 625001, INDIA |
- |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Office 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.64.82 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
54 |
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.