MIRA INFORM REPORT
|
Report No. : |
346092 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
GARWARE POLYESTER LIMITED |
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|
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Registered
Office : |
Naigaon, Post Waluj, Aurangabad – 431133, Maharashtra |
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Tel. No.: |
91-240-2554427 |
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|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
Date of
Incorporation : |
06.06.1957 |
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Com. Reg. No.: |
11-010889 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.232.531 Million |
|
|
|
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CIN No.: [Company Identification
No.] |
L10889MH1957PLC010889 |
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|
|
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IEC No.: |
0388022833 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NSKG01359B |
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|
|
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PAN No.: [Permanent Account No.] |
AAACG0571D |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturer Biaxially Oriented Polyethylene Terephthalate
(BOPET) / Polyester Films, Sun Control Films, BOPP films, Thermal Lamination
films and Specialty Polyester films of high quality for a variety of end
applications. GPL also manufactures the premium grade heat rejection films |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 16200000 |
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|
|
|
Status : |
Satisfactory |
|
|
|
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Payment Behaviour : |
Usually correct |
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|
|
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Litigation : |
Exist |
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Comments : |
Subject is an established company incorporated in the year 1957 having
satisfactory track. The company possesses an above average financial risk profile marked
by healthy net worth position and decent liquidity profile of the company. Further, the rating also takes company’s long established track
record, good operating efficiency and fair profitability achieved by the
company. Trade relations are reported as fair. Business is active. Payments
terms are reported as usually correct and as per commitment. In view of long track record and acceptable financial base, the company
can be considered normal for business dealings at usual trade terms and
conditions. Note: Subject company has been found with RBI defaulter. However, RBI
defaulter data provided on website is quit old there is no latest data
available from any source. |
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 |
CARE |
|
Rating |
BBB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
07.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ (Short Term Bank Facilities) |
|
Rating Explanation |
Have moderate degree of safety and carry
higher credit risk. |
|
Date |
07.07.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under:
Suit-filed accounts (Willful Defaulters) of Rs. 2.500 Million and above as on 19-Oct-2015.
Search details
Borrower Containing - Garware Polyester
|
BANK |
BRANCH |
QUARTER |
BORROWER NAME |
DIRECTORS NAME |
OUTSTANDING
AMOUNT ( RS. IN MILLION) |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-09-07 |
GARWARE POLYESTER LIMITED |
A M NAIK, SARITA
GARWARE, A B BHALERAO, B MORADIAN, S N BAHETI, MONIKA GARWARE MODI, S B
GARWARE, S S GARWARE |
444.800 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-12-07 |
GARWARE POLYESTER LIMITED |
A M NAIK, SARITA
GARWARE, S B GARWARE,, B MORADIAN, MONIKA GARWARE MODI, S N BAHETI,, A B
BHALERAO, S S GARWARE |
444.800 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-08 |
GARWARE POLYESTER LIMITED |
SARITA GARWARE, S
N BAHETI, S S GARWARE, MONIKA GARWARE MODI, B MORADIAN, A M NAIK, A B
BHALERAO, S B GARWARE |
444.800 |
|
UNIT TRUST OF INDIA LIMITED |
MAIN BRANCH |
31-03-04 |
GARWARE POLYESTER LIMITED |
GAUTAM DOSHI, SARITA
GARWARE, M.GARWARE MODI, S.N. BAHETI, A.B. BHALERAO, N.P.CHAPELGAONKAR, R.P.
CHHABRA, S.S. GARWARE, B. MORADIAN, S.B. GARWARE |
1829.000 |
|
UNIT TRUST OF INDIA LIMITED |
MAIN BRANCH |
30-06-04 |
GARWARE POLYESTER LIMITED |
N.P.CHAPELGAONKAR,
S.S. GARWARE, R.P. CHHABRA, GAUTAM DOSHI, M.GARWARE MODI, S.N. BAHETI, S.B.
GARWARE, A.B. BHALERAO, SARITA GARWARE, B. MORADIAN |
1705.000 |
|
UNIT TRUST OF INDIA LIMITED |
MAIN BRANCH |
30-09-04 |
GARWARE POLYESTER LIMITED |
S.B. GARWARE, SARITA
GARWARE, A.B. BHALERAO, B. MORADIAN, S.N. BAHETI, S.S. GARWARE,
N.P.CHAPELGAONKAR, R.P. CHHABRA, GAUTAM DOSHI, M.GARWARE MODI |
1829.000 |
|
UNIT TRUST OF INDIA LIMITED |
MAIN OFFICE |
30-09-03 |
GARWARE POLYESTER LIMITED |
A.B. BHALERAO, B.
MORADIAN, GAUTAM DOSHI, M.GARWARE MODI, N.P.CHAPELGAONKAR, R.P. CHHABRA, S.B.
GARWARE, S.N. BAHETI, S.S. GARWARE, SARITA GARWARE |
1829.000 |
|
UNIT TRUST OF INDIA LIMITED |
MAIN OFFICE |
31-12-03 |
GARWARE POLYESTER LIMITED |
A.B. BHALERAO, B.
MORADIAN, GAUTAM DOSHI, M.GARWARE MODI, N.P.CHAPELGAONKAR, R.P. CHHABRA, S.B.
GARWARE, S.N. BAHETI, S.S. GARWARE, SARITA GARWARE |
1829.000 |
|
UNIT TRUST OF INDIA LIMITED |
MUMBAI |
31-03-05 |
GARWARE POLYESTER LIMITED |
N.P.CHAPELGAONKAR,
R.P. CHHABRA, S.N. BAHETI, B. MORADIAN, S.S. GARWARE, M.GARWARE MODI, GAUTAM
DOSHI, S.B. GARWARE, SARITA GARWARE, A.B. BHALERAO |
555.680 |
|
UTI MUTUAL FUND |
MUMBAI |
31-12-07 |
GARWARE POLYESTER LIMITED |
GAUTAM DOSHI, S S
GARWARE, A M NAIK, B MORADIAN, S N BAHETI, A B BHALERAO, S B GARWARE, SARITA
GARWARE, MONIKA GARWARE MODI, PRASENJIT GUHA, N P CHAPALGAONKAR |
1400.652 |
Suit-filed accounts of Rs. 10.000 Million and above as on 19-Oct-2015
Search details
Borrower Containing - garware polyester
|
BANK |
BRANCH |
QUARTER |
BORROWER NAME |
DIRECTORS NAME |
OUTSTANDING
AMOUNT ( RS. IN MILLION) |
|
EXPORT IMPORT BANK OF INDIA |
HEAD OFFICE |
31-03-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, BANA
PARANJPE, DILIP THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S S
GARWARE, S S TALWAR, S V MUZUMDAR, SARITA S GARWARE, V J B ANDREWS, V M
KETKAR |
963.000 |
|
EXPORT IMPORT BANK OF INDIA |
HEAD OFFICE |
30-06-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO,
BANA PARANJPE, DILIP THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S S
GARWARE, S S TALWAR, S V MUZUMDAR, SARITA S GARWARE, V J B ANDREWS, V M
KETKAR |
963.000 |
|
ICICI BANK LIMITED |
MUMBAI |
31-03-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, B
MORADIAN, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S
GARWARE, SARITA S GARWARE, V M KETKAR |
401.000 |
|
ICICI BANK LIMITED |
MUMBAI |
30-06-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, B
MORADIAN, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S
GARWARE, SARITA S GARWARE, V M KETKAR |
401.000 |
|
ICICI BANK LIMITED |
MUMBAI |
30-09-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, B
MORADIAN, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B GARWARE, S S GARWARE,
SARITA S GARWARE, V M KETKAR |
401.000 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-05 |
GARWARE POLYESTER LIMITED |
S N TALWAR, S S
GARWARE, BANA PARANJAPE, S V MAZUMDAR, SARITA GARWARE, S B GARWARE |
55.568 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-06 |
GARWARE POLYESTER LIMITED |
N P
CHAPALGAONKAR, S B GARWARE, SARITA GARWARE, S S GARWARE, GAUTAM DOSHI, MONIKA
GARWARE MODI, PRASENJIT GUHA, B MORADIAN, R P CHHABRA, A B BHALERAO, S N
BAHETI |
55.600 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
31-03-07 |
GARWARE POLYESTER LIMITED |
A B BHALERAO,
GAUTAM DOSHI, B MORADIAN, S S GARWARE, A M NAIK, PRASENJIT GUHA, SARITA GARWARE,
S N BAHETI, MONIKA GARWARE MODI, S B GARWARE, N P CHAPALGAONKAR |
55.568 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-06-07 |
GARWARE POLYESTER LIMITED |
N P
CHAPALGAONKAR, S B GARWARE, SARITA GARWARE, S S GARWARE, PRASENJIT GUHA,
GAUTAM DOSHI, MONIKA GARWARE MODI, B MORADIAN, A M NAIK, A B BHALERAO, S N
BAHETI |
55.568 |
|
SPECIFIED UNDERTAKING OF UNIT TRUST OF INDIA |
MUMBAI |
30-09-07 |
GARWARE POLYESTER LIMITED |
A M NAIK, PRASENJIT
GUHA, SARITA GARWARE, S B GARWARE, S N BAHETI, B MORADIAN, MONIKA GARWARE
MODI, N P CHAPALGAONKAR, A B BHALERAO, GAUTAM DOSHI, S S GARWARE |
55.568 |
|
UNIT TRUST OF INDIA LIMITED |
MUMBAI |
31-03-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, ANDRREWS
V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B
GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR |
234.300 |
|
UNIT TRUST OF INDIA LIMITED |
MUMBAI |
30-06-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, ANDRREWS
V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B
GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR |
234.300 |
|
UNIT TRUST OF INDIA LIMITED |
MUMBAI |
30-09-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, ANDRREWS
V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B
GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR |
234.300 |
|
UNIT TRUST OF INDIA LIMITED |
MUMBAI |
31-12-02 |
GARWARE POLYESTER LIMITED |
A B BHALERAO, ANDRREWS
V J B, DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, R P CHHABRA, S B
GARWARE, S S GARWARE, SARITA GARWARE, V M KETKAR |
234.300 |
|
UNIT TRUST OF INDIA LIMITED |
N.A. |
30-09-02 |
GARWARE POLYESTER LIMITED |
BANA PARANJAPE,
DILIP J THAKKAR, G M YADWADKAR, M GARWARE MODI, S B GARWARE, S N TALWAR, S S
GARWARE, S V MUZUMDAR, SARITA S GARWARE, V M KETKAR |
234.300 |
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.
LOCATIONS
|
Registered Office/ Factory 1 : |
Naigaon, Post Waluj, |
|
Tel. No.: |
91-240-2554427 |
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Fax No. : |
91-240-2554672 |
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E-Mail : |
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Website: |
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Area: |
Owned |
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Corporate/ Head Office/ Factory 2 : |
Garware House, 50-A, Swami Nityanand Marg, Western
Express Highway, Vile Parle (East), Mumbai- 400 057, Maharashtra, India |
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Tel. No.: |
91-22-66988000 |
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Fax No.: |
91-22-28248155/ 28248199 |
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E-Mail : |
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Factory 3 : |
Polyester Film Plant, L-5 and L-6, Chikalthana, Industrial Area, Dr.
Abasaheb Garware Marg, |
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Tel. No.: |
91-240-2485465/ 2485466 |
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Fax No.: |
91-240-2484179/ 2484262/ 2486002 |
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E-Mail : |
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Factory 4 : |
A-1 and A-2, MIDC, Ambad, Nasik- 422 010, Maharashtra,
India |
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Tel. No.: |
91-253-2382781 to 85 |
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Fax No.: |
91-253-2382410 |
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Marketing Offices
1 / Branch Office 1: |
403, Madarn Bhikaji Cama Bhawan, 11, Bhikaji Cama Place, New Delhi- 110 066, India |
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Tel. No.: |
91-11-26715091 to 96 |
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Fax No.: |
91-11-26715098 |
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Marketing
Offices 2 / Branch Office 2 : |
37/1 B, Hazra Road, Kolkata 700 029, West Bengal, India |
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Tel. No.: |
91-33-24746823 / 24761350 |
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Fax No.: |
91-33-24749100 |
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Marketing
Offices 3 : |
Old No.37, New No.55, Ambercrest, 4th Floor, Pantheon Road Lane,
Egmore, Chennai – 600008, Tamilnadu, India |
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Tel. No.: |
91-44-28420939 |
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Fax No.: |
91-44-28593924 |
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Branch Office 3
: |
204, DLF Tower B, Near Apollo Hospital, Jasola, New Delhi- 110 025, India |
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Overseas Office
1 : |
Global Pet films
Inc 9050 Pines Blvd., Suite #425, Pembroke Pines, Florida 33024 U.S.A. |
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Tel. No.: |
9544997990 |
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Fax No.: |
9544997992 |
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E-Mail : |
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Overseas Office
2 : |
Garware Polyester
Limited Unit 2-17, The Plaza, 535 Kings Road, London SW10 0SZ, U.K. |
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Tel. No.: |
+44 20 7376 3931 |
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Fax No.: |
+44 20 7376 3932 |
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E-Mail : |
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Overseas Branch Office
: |
Unit 2-17, The Plaza, 535, Kings Road, London - SW10 0SZ. |
DIRECTORS
AS ON 31.03.2015
|
Name : |
Mr. Shashikant B. Garware |
|
Designation : |
Chairman and Managing Director |
|
Address : |
Flat No.L-1, 12th Floor, Eden Hall, |
|
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|
Name : |
Mrs. Sheela S. Garware |
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Designation : |
Director |
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Address : |
Flat No.L-1, 12th Floor, Eden Hall, |
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|
Name : |
Mrs. Monika Garware Modi |
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Designation : |
Vice Chairperson and Jt. Managing Director |
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Address : |
Flat No.L-1, 12th Floor, Eden Hall, |
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Date of Birth/Age : |
04.06.1963 |
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Qualification : |
M.B.A. (U.S.A.) |
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Date of Appointment : |
31.03.1989 |
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Name : |
Ms. Sarita Garware |
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Designation : |
Jt. Managing Director |
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Address : |
Flat No.L-1, 12th Floor, Eden Hall, |
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|
Name : |
Ms. Sonia Garware |
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Designation : |
Director |
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Address : |
Flat No.L-1, 12th Floor, Eden Hall, |
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Date of Birth/Age : |
24.07.1971 |
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Qualification : |
M.B.A. (U.S.A.) |
|
Date of Appointment : |
31.01.2007 |
|
|
|
|
Name : |
Mr. Mohan S. Adsul |
|
Designation : |
Director – Technical |
|
Address : |
Plot No.10, N-5, A1 Parijat Nagar, CIDCO, |
|
Date of Birth/ Age : |
01.06.1955 |
|
Date of Appointment : |
31.07.2007 |
|
Qualification : |
B. Sc. (Tech) in Plastics and DBM |
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|
|
|
Name : |
Mr. Boman Moradian |
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Designation : |
Director |
|
Address : |
M. |
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|
|
|
Name : |
Mr. Narendra P. Chapalgaonkar |
|
Designation : |
Director |
|
Address : |
13, Jaynagar, Near Dashmeshnagar, |
|
Date of Birth/ Age : |
10.04.1937 |
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Appointment Date : |
23.10.2003 |
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Qualification : |
M.A. and L .L.B |
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|
|
|
Name : |
T. M. Parikh |
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Designation : |
Director |
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|
|
|
Name : |
Dr. Mahesh C. Agarwal |
|
Designation : |
Director |
|
Address : |
705, Manisha
Apartments, |
|
Date of Birth/ Age : |
23.10.1946 |
|
Appointment Date : |
29.04.2009 |
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Qualification : |
Masters in Psychology. Ph. D |
|
|
|
|
Name : |
Mr. Ramesh P. Makhija |
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Designation : |
Director |
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Address : |
Flat No.61, Ashoka Apartment, 6th Floor, Nepeansea Road,
Mumbai – 400006, Maharashtra, India |
|
Date of Birth/ Age : |
19.08.1950 |
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Appointment Date : |
12.11.2009 |
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Qualification : |
L.L.B. Attorney – at - Law |
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|
|
|
Name : |
Nilesh R. Doshi |
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Designation : |
Director |
KEY EXECUTIVES
|
Name : |
S.C. Nanda |
|
Designation : |
Chief Financial Officer |
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|
|
|
Name : |
Gokul D. Naik |
|
Designation : |
Chief Financial Officer |
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|
|
Name : |
Nimesh S. Shah |
|
Designation : |
Company Secretary and Vice President (Legal) |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
1873623 |
8.04 |
|
|
1336391 |
5.73 |
|
|
10595401 |
45.44 |
|
|
10595401 |
45.44 |
|
|
13805415 |
59.21 |
|
|
|
|
|
|
268595 |
1.15 |
|
|
268595 |
1.15 |
|
Total
shareholding of Promoter and Promoter Group (A) |
14074010 |
60.36 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
15076 |
0.06 |
|
|
3305 |
0.01 |
|
|
853956 |
3.66 |
|
|
2355 |
0.01 |
|
|
6011 |
0.03 |
|
|
6011 |
0.03 |
|
|
880703 |
3.78 |
|
|
|
|
|
|
1186611 |
5.09 |
|
|
|
|
|
|
3554740 |
15.25 |
|
|
3431397 |
14.72 |
|
|
187689 |
0.81 |
|
|
17478 |
0.07 |
|
|
165635 |
0.71 |
|
|
4576 |
0.02 |
|
|
8360437 |
35.86 |
|
Total Public
shareholding (B) |
9241140 |
39.64 |
|
Total (A)+(B) |
23315150 |
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) |
23315150 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer Biaxially Oriented Polyethylene Terephthalate
(BOPET) / Polyester Films, Sun Control Films, BOPP films, Thermal Lamination films
and Specialty Polyester films of high quality for a variety of end
applications. GPL also manufactures the premium grade heat rejection films |
|
|
|
|
Products : |
Not Divulged |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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|
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Million)
|
|||||||||||||||||||||||||||||||||
|
Auditors : |
|
|
Name : |
Manubhai and Shah Chartered Accountant |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Subsidiary : |
Garware Polyester International Limited |
|
|
|
|
Step down
Subsidiary : |
Global Pet Films Inc |
|
|
|
|
Entities in which
some of the Directors are interested : |
|
|
|
|
CAPITAL STRUCTURE
AS ON 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 400.000 Million |
|
6,000,000 |
Preference Shares |
RS. 100/- each |
Rs. 600.000 Million |
|
|
Total |
|
Rs. 1000.000
Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,315,150 |
Equity Shares |
Rs.10/- each |
Rs. 233.152
Million |
|
|
Less: Unpaid Allotment Call Money |
|
Rs. 0.621
Million |
|
|
Total |
|
Rs. 232.531 Million |
Out
of the above:
(i) 200,000 Equity Shares of Rs. 10/- each were allotted as
fully paid up to various schemes operating under UTI Assets Management Company Ltd.
at a premium of Rs. 22.67/- per share on 23rd December, 2008 as per
arrangement. (Previous Year 200,000).
(ii) 254,764 Equity Shares of Rs. 10/- each fully paid-up issued to the shareholders of Garware Chemicals Limited (GCL) as per the scheme of arrangement under Section 391 to 394 of the Companies Act, 1956 on 14th November, 2011 (Previous Year 254,764).
(iii) 5,446,000 0.01% Cumulative Redeemable Preference Shares of Rs. 100/- each were allotted as fully paid up to IDBI at par (4,954,000 on 7th November, 2007 and 492,000 on 19th June, 2008) as per arrangement (Previous Year 5,446,000).
Terms / Rights
attached to Shares:
Equity Shares:
The company has only one class of equity shares having a par value of Rs. 10/- per share. Each equity shareholder is entitled to One Vote per share. The company declares and pays dividends in Indian Rupees. The dividend proposed by the board of directors is subject to approval of shareholders in the ensuing Annual General Meeting.
As per the Companies Act, 2013, the holders of equity shares
will be entitled to receive remaining assets of the company, after distribution
of all preferential amounts in the event of liquidation of the company. The
distribution will be in proportion to the number of equity shares held by the
shareholder.
Preference Shares:
The Preference Shares amounting to Rs. 4,954.00 Lakhs
allotted on 07.11.2007 were redeemable in 3 equal installments from 1st April,
2014 to 1st April, 2016 and Rs. 492.00 Lakhs allotted on 19.06.2008 were redeemable
in single installment on 1st April, 2016. These Preference Shares carry a fixed
cumulative dividend of 0.01% per annum.
The company has fully redeemed the above Preference Shares amounting to Rs. 5,446.00 Lakhs by paying Rs. 4,000.00 Lakhs as One Time Settlement in full and final payment. The difference of Rs. 1,446.00 Lakhs has been credited in the Statement of Profit and Loss Account under Other Income.
Reconciliation of the
number of Shares Outstanding at the beginning and at the end of the year
|
|
31.03.2015 |
|
|
Equity Shares |
No. of Shares |
Rs. In Million |
|
At the beginning of the period |
23,315,150 |
233.152 |
|
Issued during the year |
0 |
0.000 |
|
Outstanding at the
end of the year |
23,315,150 |
233.152 |
Details of Shareholders
holding more than 5% Equity Shares in the company:
|
|
31.03.2015 |
|
|
Name of the
Shareholder |
No. of Shares |
% of Holdings |
|
S. B. Garware Family Trust |
10592401 |
45.43 |
|
Preference Shares |
No. of Shares |
Rs. In Million |
|
At the beginning of the year |
5446000 |
5446.000 |
|
Issued during the year |
000 |
0.0000 |
|
Redeemed during the year |
5446000 |
5446.000 |
|
Outstanding at the
end of the year |
0 |
0.000 |
Details of Shareholders
holding more than 5% Preference Shares in the company
|
Name of the
Shareholder |
No. of Shares |
% of Holdings |
|
IDBI Bank Limited |
0 |
0.00 |
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 |
232.531 |
777.131 |
777.131 |
|
(b) Reserves & Surplus |
5437.813 |
5287.277 |
5173.450 |
|
(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) |
5670.344 |
6064.408 |
5950.581 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
606.281 |
731.478 |
745.361 |
|
(b) Deferred tax liabilities (Net) |
316.281 |
243.097 |
211.365 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
49.778 |
44.838 |
40.862 |
|
Total Non-current
Liabilities (3) |
972.340 |
1019.413 |
997.588 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2675.237 |
2739.917 |
1931.804 |
|
(b) Trade
payables |
452.658 |
436.711 |
344.792 |
|
(c) Other
current liabilities |
449.558 |
491.598 |
393.986 |
|
(d) Short-term
provisions |
95.921 |
85.222 |
86.728 |
|
Total Current
Liabilities (4) |
3673.374 |
3753.448 |
2757.310 |
|
|
|
|
|
|
TOTAL |
10316.058 |
10837.269 |
9705.479 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
6481.427 |
5607.043 |
5534.333 |
|
(ii)
Intangible Assets |
6.145 |
8.613 |
11.452 |
|
(iii)
Capital work-in-progress |
107.049 |
861.938 |
390.855 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
20.613 |
20.694 |
21.446 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
884.602 |
839.713 |
944.262 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
7499.836 |
7338.001 |
6902.348 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1337.096 |
1455.575 |
921.428 |
|
(c) Trade
receivables |
481.132 |
589.424 |
451.131 |
|
(d) Cash
and cash equivalents |
524.393 |
912.603 |
985.615 |
|
(e)
Short-term loans and advances |
426.147 |
514.719 |
428.812 |
|
(f) Other
current assets |
47.454 |
26.947 |
16.145 |
|
Total
Current Assets |
2816.222 |
3499.268 |
2803.131 |
|
|
|
|
|
|
TOTAL |
10316.058 |
10837.269 |
9705.479 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
|
SALES |
|
|
|
|
|
Income |
8867.937 |
8351.859 |
7759.956 |
|
|
Other Income |
265.769 |
116.302 |
81.375 |
|
|
TOTAL |
9133.706 |
8468.161 |
7841.331 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
5323.718 |
5316.121 |
4150.315 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
36.090 |
(292.878) |
207.392 |
|
|
Employees benefits expense |
642.622 |
584.694 |
510.289 |
|
|
Other expenses |
2278.968 |
2071.452 |
2178.619 |
|
|
Exceptional Items |
0.000 |
-62.216 |
-55.614 |
|
|
TOTAL |
8281.398 |
7617.173 |
7035.184 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
852.308 |
850.988 |
806.147 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
436.422 |
369.474 |
294.632 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
415.886 |
481.514 |
511.515 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
150.815 |
334.751 |
393.144 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
265.071 |
146.763 |
118.371 |
|
|
|
|
|
|
|
Less |
TAX |
91.720 |
32.997 |
-158.694 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
173.351 |
113.766 |
277.065 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3082.500 |
3082.600 |
2968.800 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transferred from Assets whose balance
useful life is Nil as per Schedule II of the Companies Act, 2013 |
22.800 |
0.000 |
0.000 |
|
|
Transferred to Capital Redemption Reserve on
Redemption of Preference Shares |
544.600 |
0.000 |
0.000 |
|
|
Dividend on Cumulative Redeemable
Preference Shares |
0.000 |
0.100 |
0.100 |
|
|
Tax on Dividend |
0.000 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
2688.451 |
3082.500 |
2968.700 |
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
4553.262 |
4529.697 |
4560.294 |
|
|
TOTAL EARNINGS |
4553.262 |
4529.697 |
4560.294 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
564.753 |
628.260 |
514.141 |
|
|
Stores & Spares |
39.192 |
15.266 |
15.682 |
|
|
Capital Goods |
46.099 |
244.674 |
182.336 |
|
|
TOTAL IMPORTS |
650.044 |
888.200 |
712.159 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.44 |
4.88 |
11.88 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Current Maturities of Long term debt |
305.571 |
325.683 |
239.236 |
|
Cash generated from operations |
952.296 |
204.092 |
527.430 |
|
Net cash flow from (used in) operation |
879.091 |
183.365 |
519.878 |
QUARTERLY RESULTS
(Rs.
In Million)
|
PARTICULARS |
30.06.2015 Unaudited |
|
Net Sales |
2350.500 |
|
Total Expenditure |
2085.400 |
|
PBIDT (Excl OI) |
265.100 |
|
Other Income |
12.300 |
|
Operating Profit |
277.400 |
|
Interest |
113.600 |
|
Exceptional Items |
NA |
|
PBDT |
163.800 |
|
Depreciation |
41.800 |
|
Profit Before Tax |
122.000 |
|
Tax |
39.800 |
|
Provisions and contingencies |
NA |
|
Profit After Tax |
82.200 |
|
Extraordinary Items |
NA |
|
Prior Period Expenses |
NA |
|
Other Adjustments |
NA |
|
Net Profit |
82.200 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 |
31.03.2014 |
31.03.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
1.95 |
1.36 |
3.57 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
9.61 |
10.19 |
10.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.60 |
1.47 |
1.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.63 |
0.63 |
0.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.77 |
0.93 |
1.02 |
STOCK
PRICES
|
Face Value |
Rs. 10.00/- |
|
Market Value |
Rs. 135.00/- |
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 |
777.131 |
777.131 |
232.531 |
|
Reserves & Surplus |
5173.450 |
5287.277 |
5437.813 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
5950.581 |
6064.408 |
5670.344 |
|
|
|
|
|
|
long-term borrowings |
745.361 |
731.478 |
606.281 |
|
Short term borrowings |
1931.804 |
2739.917 |
2675.237 |
|
Current Maturities of Long
Term Debt |
239.236 |
325.683 |
305.571 |
|
Total
borrowings |
2916.401 |
3797.078 |
3587.089 |
|
Debt/Equity
ratio |
0.490 |
0.626 |
0.633 |
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 |
7759.956 |
8351.859 |
8867.937 |
|
|
|
7.628 |
6.179 |
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 |
7759.956 |
8351.859 |
8867.937 |
|
Profit |
277.065 |
113.766 |
173.351 |
|
|
3.57% |
1.36% |
1.95% |
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 |
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 |
Yes |
|
33 |
Market information |
--- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
LITIGATION DETAILS
|
HIGH COURT OF
BOMBAY |
|
CASE DETAILS BENCH: BOMBAY |
|
Presentation
Date:- 15/05/2014 |
|
|
|
Main
Matter Reg. No.:- S/1152/2012 Reg. Date :- 03/05/2012 |
|
Petitioner: GEETA C. SHRIKHANDE AND PRIYA C. SHRI Respondent: GARWARE POLYSTER
LTD.-
Petn. Adv : D.B. SAVANT (0) District: MUMBAI |
|
Bench: SINGLE Status: Transferred
Category: CIVIL SUITS
Transfer
Date: 03/10/2012 Remark
: TRANSFRRED TO CITY CIVIL COURT |
|
Act: Code of Civil Procedure 1908 |
UNSECURED LOAN
|
Particulars |
As
on 31.03.2014 |
As
on 31.03.2013 |
|
LONG TERM
BORROWING |
|
|
|
Interest Free Sales Tax / VAT Deferral Loan from SICOM |
120.346 |
120.346 |
|
|
|
|
|
Total |
120.346 |
120.346 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10490002 |
25/04/2014 |
704,000,000.00 |
BANK OF INDIA |
BANK OF INDIA, 92-93 Free Press House 215, Nariman Point, MUMBAI, Maharashtra - 400021, INDIA |
C03761665 |
|
2 |
10418501 |
14/03/2014 * |
454,400,000.00 |
Indian Overseas Bank |
NEW MARINE LINES BRANCH, MERCHANT CHAMBERS, GROUND FLOOR, OPP.SNDT COLLEGE, MUMBAI, Maharashtra - 400020, INDIA |
C05346192 |
|
3 |
10384547 |
28/09/2012 |
220,000,000.00 |
INDIAN OVERSEAS BANK |
New Marinelines
Branch, Merchant Chamber, Ground Maharashtra - 400020, INDIA |
B61404307 |
|
4 |
10374082 |
14/03/2014 * |
375,000,000.00 |
DENA BANK |
Industrial Finance
Branch, 1st Floor, 17, Hornim INDIA |
C08887614 |
|
5 |
10338310 |
14/03/2014 * |
367,000,000.00 |
Indian Overseas Bank |
NEW MARINE LINES BRANCH, MERCHANT CHAMBERS, GROUND FLOOR, OPP.SNDT COLLEGE, MUMBAI, Maharashtra - 400020, INDIA |
C05342555 |
|
6 |
10306368 |
10/10/2013 * |
352,500,000.00 |
Indian Overseas Bank |
New Marinelines
Branch, Merchant Chamber, Ground Maharashtra - 400020, INDIA |
B88496500 |
|
7 |
10248201 |
08/10/2010 |
25,100,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG,FORT, MUMBAI, Maharashtra - 400001, INDIA |
A97296578 |
|
8 |
90222741 |
07/05/2015 * |
5,849,500,000.00 |
Indian Overseas Bank |
NEW MARINE LINES BRANCH, MERCHANT CHAMBERS, GROUND FLOOR, OPP.SNDT COLLEGE, MUMBAI, Maharashtra - 400020, INDIA |
C54930060 |
* Date of charge modification
OPERATIONS
The year 2014-15 has ended with marginal improvement over
the year 2013-14 with increase in sales by about 8% due to higher sales volume of
Industrial Products. The average sales realization was better due to reduction
in the raw material cost and an increase in the sale of specialty products
which has helped the Company in achieving 8% Growth in EBITDA.
MANAGEMENT DISCUSSION
AND ANALYSIS
COMPANY OVERVIEW AND
ECONOMIC ENVIRONMENT
Subject is the pioneer and one of the largest exporters of polyester films in India. The Company manufactures Biaxially Oriented Polyethylene Terephthalate (BOPET) / Polyester Films, Sun Control Films, BOPP films, Thermal Lamination films and Specialty Polyester films of high quality for a variety of end applications. GPL also manufactures the premium grade heat rejection films based on the latest ‘Nano Technology’ developed in its in-house R&D facility centre. The Company commissioned the BOPP Plant (Bi-axially oriented Polypropylene) which has gone into commercial operation since August 2014. BOPP is also a raw material that plays an important part in the manufacture of Thermal Lamination Films which are produced on Their Thermal Lamination Line. This line was set up as part of the Company’s efforts to ensure forward integration. The Company is already backward integrated through the establishment of a Batch Process Polyester Chips plant which ensures a steady stream of supply of chips for the Film Lines. The Company’s strength is its integrated manufacturing facilities, R&D Center and specialty products developed for various end applications.
INDUSTRY STRUCTURE
AND DEVELOPMENTS
Polyester films has wide applications in a host of industries engaged in the manufacture of flexible packaging, shrink labels, electrical motor and cable insulation, sequin, TV screen, magnetic media, imaging, metallic yarn, laminated films for glass tint, safety application etc. Sun Control films cater to the automobile and real estate sector. The Company has a well-developed marketing network throughout the world, some of the major regions being Europe, USA, Far East, Middle East, Africa, South America etc. The Company has developed a wide network of dedicated customers in Europe, USA, Far East, Middle East, Brazil, Australia, China, Russia, New Zealand, Eastern Europe, Mexico and Africa. In order to expand the business and offer better services to the customers of consumer products in overseas market, the Company has Subsidiary Companies situated in USA and UK besides a branch in UK. This ensures a cohesive global organization that can weave its operations in the above countries. The quality of GPL products is rated amongst the best in the world and the Company pays special attention on customer service and satisfaction due to which the customer base is consistent and increasing.
COMPANY’S PERFORMANCE
On consolidated basis, revenue from operations for the financial year 2014-15 at Rs. 9231.700 Million was higher by Rs.702.400 Million over last year (Rs. 8529.300 Million in 2013-14). Earnings before interest, tax, depreciation and amortization (EBITDA) was Rs. 865.600 Million registering a growth of 10 % over EBITDA of Rs. 786.000 Million in 2013-14. Profit after tax (PAT) for the year was Rs. 178.100 Million registering growth of 73 % over the PAT of Rs.102.900 Million in 2013-14.
On standalone basis, revenue from operations for the financial year 2014-15 at Rs. 9133.700 Million, was higher by 8% over last year (Rs. 8468.200 Million in 2013-14). Earnings before interest, tax, depreciation and amortization (EBITDA) was Rs. 852.300 Million registering a growth of 8% over the EBITDA of Rs. 788.800 Million in 2013-14. Profit After Tax (PAT) for the year was Rs. 173.400 Million recording a growth of 52% over the PAT of Rs. 11.38 Crores in 2013-14
FUTURE OUTLOOK
The overcapacity situation persists in the Polyester Film manufacturing industry in Indian market as well as in the international market, the prices remain under pressure due to competition and oversupply situation. The Company has shifted its focus to the specialty films and already developed some new products for the market such as Digital Printable Films, films for Solar PV application, films for Lidding application, Coated Films for Label, Medium Shrink Films for Label and films with High Infrared heat rejection for automobiles. These films will mainly cater to the export market
CONTINGENT
LIABILITIES:
(Rs. in million)
|
PARTICULARS |
31.03.2015 |
|
Disputed Matters in appeal/contested in respect of |
|
|
Income Tax |
140.481 |
|
Excise Duty and Service Tax |
4.420 |
|
Sales Tax |
117.830 |
|
Local Body Tax |
38.306 |
|
Maharashtra State Electricity
Board (MSEB) |
2.772 |
|
|
|
|
Total |
303.809 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH JUNE 2015
(Rs. in million)
|
Sr. No. |
Particulars |
Quarter Ended |
|
30.06.2015 |
||
|
Unaudited |
||
|
Part I |
|
|
|
1. |
Income from
Operations |
|
|
|
a)
Net Sales / Income from Operations |
2318.600 |
|
|
b)
Other Operating Income |
31.900 |
|
|
Total
Income from Operations (net) |
2350.500 |
|
2. |
Expenditure |
|
|
|
a)
Cost of materials consumed |
1446.100 |
|
|
b)
Purchase of stock-in-trade |
0.000 |
|
|
c) Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(121.400) |
|
|
d)
Employee benefits expense |
167.900 |
|
|
e)
Depreciation and amortisation expense |
41.800 |
|
|
f) Power and Fuel Charges |
212.300 |
|
|
g)
Other expenses |
380.500 |
|
|
Total Expenses |
2127.200 |
|
3. |
Profit/ (Loss) from
Operations before Other Income, Exchange gain/(loss), Finance costs and
Exceptional items (1-2) |
223.300 |
|
4. |
Other Income |
12.300 |
|
5. |
Profit /(Loss)
from Ordinary activities before finance costs and Exceptional items (3+4a+4b) |
235.600 |
|
6. |
Finance Costs |
113.600 |
|
7. |
Profit / (Loss) from ordinary activities
after Finance costs but before Exceptional items (5-6) |
122.000 |
|
8. |
Exceptional items |
-- |
|
9. |
Profit/ (Loss) from ordinary activities
before tax (7+8) |
122.000 |
|
10. |
Tax expenses |
39.800 |
|
11. |
Net Profit / (Loss) from ordinary
activities after tax (9-10) |
82.200 |
|
12. |
Extraordinary
items |
0.000 |
|
13. |
Net Profit /
(Loss) for the period (11+12) |
82.200 |
|
14. |
Paid-up equity share capital (Face Value of Rs. 10 per share) |
232.500 |
|
15. |
Reserve excluding Revaluation reserve |
|
|
16. |
Earnings Per Share (EPS) before and after extraordinary items (of Rs.
10/- each) a) Basic b) Diluted |
3.53 3.53 |
|
|
|
|
|
Part II |
|
|
|
A. |
PARTIULARS OF SHAREHOLDINGS |
|
|
|
Public
Shareholding |
|
|
|
- Number of Shares |
9241140 |
|
|
- Percentage of Shareholding |
39.64 |
|
|
Promoters and
Promoter Group Shareholding |
|
|
|
a)
Pledged/Encumbered |
|
|
|
- Number of Shares |
Nil |
|
|
- Percentage of Shares (as a % of the Total Shareholding of promoter
and promoter group) |
Nil |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
Nil |
|
|
b) Non
Encumbered |
|
|
|
- Number of Shares |
14074010 |
|
|
- Percentage of Shares (as a % of the Total Shareholding of Promoter
and Promoter Group) |
100 |
|
|
- Percentage of Shares (as a % of the Total Share Capital of the
Company) |
60.36 |
|
PARTICULARS |
For the quarter ended 30th June 2015 |
|
B INVESTORS COMPLAINTS |
|
|
Pending at the beginning of the quarter |
Nil |
|
Received during the quarter |
16 |
|
Disposed during the quarter |
16 |
|
Remaining unresolved at the end of the quarter |
Nil |
Note:
1. The above results have been reviewed by the Audit Committee and approved and taken on record by the Board of Directors of the Company at their respective meetings held on 6th August, 2015. The statutory Auditors have carried out a Limited Review of the results for the quarter ended 30th June 2015.
2. The Company operates in one segment only i.e. Polyester Films, hence segment reporting required under AS 17 is not applicable.
3. Other Income for the quarter ended and previous year ended 31st March 2015 includes Rs. 1,446 lakhs towards One Time settlement (OTS) in full and final payment on redemption of 0.01% cumulative redeemable preference shares of Rs. 5,446 Lakhs by paying Rs. 4,000 Lakhs.
4. Current Tax for the previous year ended 31st March 2015 includes Rs. 32 Lakhs relating to prior year.
5. The Figures for the last quarter ended 31st March 2015 are the balancing figures between audited figures in respect of full financial year and the published unaudited year to date figures up to third quarter of the previous financial year.
6. Previous period / year figures have been regrouped and reclassified to make them comparable with the figures of the current period / year.
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Electrical
Installation
- Laboratory
Equipments
- Furniture and
Fixture
- Office
Equipment
- Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records 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 |
|
UK Pound |
1 |
Rs. 100.12 |
|
Euro |
1 |
Rs. 73.75 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
JYO |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
50 |
This score serves as a reference to assess SC’s
credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.