MIRA INFORM REPORT
|
Report No. : |
345464 |
|
Report Date : |
21.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
AUNDE INDIA LIMITED (w.e.f.15.11.2010) |
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|
|
|
Formerly Known
As : |
AUNDE FAZE THREE LIMITED (w.e.f.09.06.2008) AUNDE FAZE THREE AUTOFAB LIMITED |
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Registered
Office : |
Plot No. 146, Waghdhara Village, Dadra -396191, Union Territory of Dadra
Nagar Haveli |
|
Tel. No.: |
91-260-2668539 |
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|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
30.06.2015 |
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|
|
Date of
Incorporation : |
03.10.1997 |
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|
|
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Com. Reg. No.: |
54-000196 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.107.232 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17120DN1997PLC000196 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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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
: |
Subject is engaged in Manufacturing of Automotive fabrics. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject was incorporated in the year 1997. Aunde Achter & Ebels
GmbH (Germany) is the JV partner and is holding 42.82% of shares in the
subject company. The company has achieved decent revenue but has been making loss for
both the FY 14 and 15. However, the company possesses decent networth base marked by increase
in its cash and cash equivalents and there is favourable gap between trade payables
and receivables. Trade relations are fair. Business is active. Payments are slow but
correct. In view of strong promoters, the company can be considered for
business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating= “BBB-” |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date: |
05.03.2015 |
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 DECLINED BY
|
Name : |
Not Divulged |
|
Designation : |
Accountant |
|
Contact No.: |
91-260-2668539 |
|
Date : |
16.10.2015 |
LOCATIONS
|
Registered Office/Factory : |
Plot No. 146, Waghdhara Village, Dadra -396191, Union Territory of Dadra
Nagar Haveli , India |
|
Tel. No.: |
91-260-2668539 |
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Fax No.: |
91-260-2668501 |
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E-Mail : |
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Website: |
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Corporate Office : |
102, Shiv Smriti Chambers, 49-A, Dr |
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Tel. No.: |
91-22-6618 8777 |
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Fax No.: |
91-22-2493 6811 |
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E-Mail : |
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|
|
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Branch Offices : |
10C, Big Jo's Towers, Chennai
Office |
DIRECTORS
As on 31.06.2015
|
Name : |
Mr. Ajay Anand |
|
Designation : |
Managing Director |
|
Address : |
91-92, Ritu Apartments, 1/113 Dongershi Road, Walkeshwar, Mumbai - 400006, Maharashtra, India |
|
DIN No.: |
00373248 |
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|
|
|
Name : |
Mr Rolf Konigs |
|
Designation : |
Director |
|
Address : |
41063, Monchengladbach, Viersener, Strasse, Viersener Strasse, 380, Germany |
|
Date of Appointment : |
22.05.2000 |
|
DIN No.: |
06500166 |
|
|
|
|
Name : |
Mr. Raghavendra J. Avadhani |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Kapil Sethi |
|
Designation : |
Director |
|
Address : |
B 301, Lakeview Apartments, Sunder Vihar, New Delhi - 110087, India |
|
Date of Appointment : |
31.10.2002 |
|
DIN No.: |
01375336 |
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|
|
|
Name : |
Gurinder Kaur Kalsi |
|
Designation : |
Director |
|
Address : |
C/O Salim M Badakshani Govt. Housing Colony, Silvassa, 396230, Dadar Nagar Haveli, India |
|
Date of Appointment : |
12.08.2015 |
|
DIN No.: |
01008698 |
KEY EXECUTIVES
|
Name : |
Ms. Jovita Reema Mathias |
|
Designation : |
AGM Legal and Company Secretary |
|
Address : |
Regina Pacis, Opposite Byculla Police Station,, Love Lane, Byculla,, Mumbai - 400027, Maharashtra, India |
|
Date of Appointment : |
15.02.2011 |
|
PAN No.: |
AKWPM2260Q |
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|
|
|
BOARD COMMITTEES |
|
|
Share Transfer
Committee |
|
|
Name : |
Mr. Kapil Sethi |
|
Designation : |
Chairman |
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|
|
|
Name : |
Mr. Ajay Anand |
|
Designation : |
Member |
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|
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|
Name : |
Mr. Raghavendra J. Avadhani |
|
Designation : |
Member |
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|
|
|
Shareholders
–Investors Grievance Committee |
|
|
Name : |
Mr. Kapil Sethi |
|
Designation : |
Chairman |
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|
|
|
Name : |
Mr. Ajay Anand |
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Designation : |
Member |
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|
|
|
Name : |
Mr. Raghavendra J. Avadhani |
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Designation : |
Member |
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|
Audit Committee |
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|
Name : |
Mr. Kapil Sethi |
|
Designation : |
Chairman |
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|
|
|
Name : |
Mr. Ajay Anand |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Rolf Konigs |
|
Designation : |
Member |
|
|
|
|
Name : |
Mr. Raghavendra J. Avadhani |
|
Designation : |
Member |
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|
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|
Remuneration
Committee |
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|
Name : |
Mr. Kapil Sethi |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Rolf Konigs |
|
Designation : |
Member |
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|
|
|
Name : |
Mr. Raghavendra J. Avadhani |
|
Designation : |
Member |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2015
|
Category of
Shareholder |
Total No. of Shares |
% of Total No. of
Shares |
|
|
|
|
|
(A)
Shareholding of Promoter and Promoter Group |
||
|
|
|
|
|
|
1287200 |
12.00 |
|
|
2124000 |
19.81 |
|
|
3411200 |
31.81 |
|
|
|
|
|
|
4591200 |
42.82 |
|
|
4591200 |
42.82 |
|
Total
shareholding of Promoter and Promoter Group (A) |
8002400 |
74.63 |
|
(B)
Public Shareholding |
||
|
|
|
|
|
|
150 |
0.00 |
|
|
150 |
0.00 |
|
|
300 |
0.00 |
|
|
|
|
|
|
1645269 |
15.34 |
|
|
|
|
|
|
704563 |
6.57 |
|
|
366905 |
3.42 |
|
|
3770 |
0.04 |
|
|
3770 |
0.04 |
|
|
2720507 |
25.37 |
|
Total
Public shareholding (B) |
2720807 |
25.37 |
|
Total
(A)+(B) |
10723207 |
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) |
10723207 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Manufacturing of Automotive fabrics. |
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Products : |
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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 |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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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 : |
Note: Long Term
Borrowing The term loans from Saraswat Bank are secured by way of hypothecation of specific Plant and Machineries/ Fixed assets purchased / installed out of the sanctioned Term Loans amount, Pledge of Margin Money TDRs against LCs (F/I) and collaterally secured by way of EMT of Land and Building at Plot No. 146/145(1), Waghdhara Village Road, Dadra - 396 193, Union Territory of Dadra and Nagar Haveli and further charge on entire Plant and Machineries installed at Survey No 356/1 and 2, Village Dadra, Dadra-396193, Survey No.380/1, Khanvel Silvassa Road, Dapada-396230 and Plot No.71, Phase -1, Industrial Area, GIDC, Vapi-396195. Short Term
Borrowing Finished Goods and Finished Goods of Auto Fabrics including imported Laminated and coated materials and Book Debts as Primary and Collaterally secured by way of EMT of Land and Building at Plot No. 146/145(1), Waghdhara Village Road, Dadra - 396 193, Union Territory of Dadra and Nagar Haveli and hypothecation of inventories/Plant and Machineries installed at Survey No.356/1-2, Village Dadra, Dadra-396193, Survey No.380/1, Khanvel Silvassa Road, Dapada-396230 and Plot No.71, Phase 1, Industrial Area, GIDC,Vapi396195. |
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Statutory Auditors : |
|
|
Name : |
Majibail and Company Chartered Accountant |
|
Address : |
Mumbai, Maharashtra, India |
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|
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Advocates and
solicitors |
Vikram Philip and Associates |
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Memberships : |
-- |
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Collaborators : |
-- |
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Venturer : |
Aunde Achter and Ebels GMBH |
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|
Associates : |
Madhyam vinimay private limited |
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11000000 |
Equity Shares |
Rs.10/- each |
Rs.110.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10723207 |
Equity Shares |
Rs.10/- each |
Rs.107.232
Million |
|
|
|
|
|
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
30th June 2015 |
|
|
|
Number |
Rs. in Million |
|
Shares outstanding at the beginning of the year |
10,723,207 |
107.232 |
|
Shares outstanding
at the end of the year |
10,723,207 |
107.232 |
Terms/rights
attached to Equity Shares:
The Company has only one class of Equity Shares having a par value of
Rs.10/- per share. All the Equity Shares
rank pari passu in all respect.
The company has not issued bonus shares and shares for consideration
other than cash nor the company has bought back any shares during the period of
five years immediately proceeding the reporting date
Details of
shareholders holding more than 5% shares in the Company.
|
Name of Shareholder |
30th June 2015 |
|
|
|
No. of Shares held |
% of Holding in the class |
|
Equity Shares of Rs.10/- each fully paid |
|
|
|
Aunde Achter and Ebels GmbH |
4591200 |
42.82 |
|
Ajay Anand |
565251 |
5.27 |
|
Instyle Investments Private Limited |
1435500 |
13.39 |
As per of the company, including its register of shareholders / members and other declarations received from shareholders regarding beneficial interest, the above shareholding represents both legal and beneficial ownerships of shares.
FINANCIAL DATA
[all figures are in
Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.06.2015 (9
Months) |
31.06.2014 (12
Months) |
31.06.2013 (12
Months) |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
107.232 |
107.232 |
107.232 |
|
(b) Reserves & Surplus |
213.305 |
261.482 |
275.252 |
|
(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) |
320.537 |
368.714 |
382.484 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
284.854 |
292.953 |
280.564 |
|
(b) Deferred tax liabilities
(Net) |
56.128 |
55.712 |
53.671 |
|
(c) Other long term
liabilities |
54.828 |
43.105 |
57.612 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
395.810 |
391.770 |
391.847 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
356.281 |
352.344 |
298.002 |
|
(b) Trade payables |
247.393 |
221.899 |
144.399 |
|
(c) Other current liabilities |
106.317 |
97.725 |
104.043 |
|
(d) Short-term provisions |
9.027 |
2.068 |
6.621 |
|
Total
Current Liabilities (4) |
719.018 |
674.036 |
553.065 |
|
|
|
|
|
|
TOTAL |
1435.365 |
1434.520 |
1327.396 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
530.995 |
549.165 |
549.008 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
31.370 |
30.302 |
34.468 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
562.365 |
579.467 |
583.476 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
435.750 |
427.511 |
307.383 |
|
(c) Trade receivables |
272.255 |
303.913 |
354.301 |
|
(d) Cash and cash equivalents |
34.918 |
11.649 |
24.271 |
|
(e) Short-term loans and
advances |
117.125 |
102.631 |
44.158 |
|
(f) Other current assets |
12.952 |
9.349 |
13.807 |
|
Total
Current Assets |
873.000 |
855.053 |
743.920 |
|
|
|
|
|
|
TOTAL |
1435.365 |
1434.520 |
1327.396 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.06.2015 (9
Months) |
31.06.2014 (12
Months) |
31.06.2013 (12
Months) |
|
|
SALES |
|
|
|
|
|
Income |
808.134 |
1349.495 |
1131.241 |
|
|
Other Income |
7.243 |
12.007 |
11.081 |
|
|
TOTAL
(A) |
815.377 |
1361.502 |
1142.322 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
524.769 |
953.594 |
746.917 |
|
|
Purchases of Stock-in-Trade |
9.005 |
0.000 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(15.780) |
(122.773) |
(45.745) |
|
|
Employees benefits expense |
51.867 |
61.608 |
47.070 |
|
|
Other expenses |
224.200 |
351.310 |
234.868 |
|
|
TOTAL
(B) |
794.061 |
1243.739 |
983.110 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
21.316 |
117.763 |
159.212 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
62.802 |
88.316 |
68.956 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(41.486) |
29.447 |
90.256 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
31.396 |
41.121 |
42.170 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
(72.882) |
(11.674) |
48.086 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(24.705) |
2.096 |
11.116 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(48.177) |
(13.770) |
36.970 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
158.100 |
219.100 |
152.536 |
|
|
TOTAL
EARNINGS |
158.100 |
219.100 |
152.536 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
57.500 |
132.800 |
97.540 |
|
|
Components and Stores parts |
1.500 |
0.900 |
2.924 |
|
|
Capital Goods |
6.000 |
28.000 |
17.819 |
|
|
TOTAL
IMPORTS |
65.000 |
161.700 |
118.283 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(4.49) |
(1.28) |
3.45 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.06.2015 (9
Months) |
31.06.2014 (12
Months) |
31.06.2013 (12
Months) |
|
Current Maturities of Long term debt |
38.234 |
43.409 |
42.420 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from operating activity |
104.022 |
78.267 |
90.358 |
QUARTERLY RESULTS
|
Particulars |
30.06.2015 |
|
UnAudited |
1st Quarter |
|
Net Sales |
287.700 |
|
Total Expenditure |
273.000 |
|
PBIDT (Excl OI) |
14.700 |
|
Other Income |
3.600 |
|
Operating Profit |
18.300 |
|
Interest |
19.700 |
|
Exceptional Items |
NA |
|
PBDT |
(1.400) |
|
Depreciation |
11.000 |
|
Profit Before Tax |
(12.400) |
|
Tax |
NA |
|
Provisions and contingencies |
NA |
|
Profit After Tax |
(12.400) |
|
Extraordinary Items |
NA |
|
Prior Period Expenses |
NA |
|
Other Adjustments |
NA |
|
Net Profit |
(12.400) |
KEY
RATIOS
|
PARTICULARS |
|
31.06.2015 (9
Months) |
31.06.2014 (12
Months) |
31.06.2013 (12
Months) |
|
Net Profit Margin (PAT / Sales) |
(%) |
(5.96) |
(1.02) |
3.27 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.64 |
8.73 |
14.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(5.19) |
(0.83) |
3.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23) |
(0.03) |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.00 |
1.75 |
1.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.27 |
1.35 |
STOCK
PRICES
|
Face Value |
Rs.10/- |
|
Market Value |
Rs.33.10/- |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.06.2013 (12
Months) |
31.06.2014 (12
Months) |
31.06.2015 (9
Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
107.232 |
107.232 |
107.232 |
|
Reserves & Surplus |
275.252 |
261.482 |
213.305 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
382.484 |
368.714 |
320.537 |
|
|
|
|
|
|
long-term borrowings |
280.564 |
292.953 |
284.854 |
|
Short term borrowings |
298.002 |
352.344 |
356.281 |
|
Current Maturities of
Long-Term Debts |
42.420 |
43.409 |
38.234 |
|
Total
borrowings |
620.986 |
688.706 |
679.369 |
|
Debt/Equity
ratio |
1.624 |
1.868 |
2.119 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.06.2013 (12
Months) |
31.06.2014 (12
Months) |
31.06.2015 (9
Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1131.241 |
1349.495 |
808.134 |
|
|
|
19.293 |
(40.116) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.06.2013 (12
Months) |
31.06.2014 (12
Months) |
31.06.2015 (9
Months) |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
1131.241 |
1349.495 |
808.134 |
|
Profit/ (Loss) |
36.970 |
(13.770) |
(48.177) |
|
|
3.27% |
(1.02%) |
(5.96%) |
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 |
Yes |
|
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 |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
CORPORATE
INFORMATION
The is a public company domiciled in India and incorporated under the
provisions of Indian Companies Act, 2013. The company’s equity shares are
listed for trading on the Bombay Stock Exchange. The company is engaged in
manufacturing of Automotive Fabrics.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
ECONOMIC AND BUSINESS VIEW
The global auto
industry is experiencing a nurturing economical environment in the light of
rising consumer confidence and easier access to credit facilities. A range of economic
conditions are supportive to overall growth of automobile industry and its
allied activities. Auto industry executives and experts tend to be optimistic
about the U.S. market, forecasting annualized sales in North America in the
near term of a relatively robust 16 million cars, up from only 13 million in
2008. However, the outlook in Europe is much weaker as the region is emerging
fitfully from a six-year sales slump. In China, the world's largest vehicle
market, investments by most Original Equipment Manufacturers (OEMs), which are
betting big on future demand, continue to ramp up. Reacting strategically to
these demand shifts will be an absolute priority for industry leaders in 2015.
Future Market
Insights (FMI), delivers key insights on the technical textile market in its
latest report titled, “Technical Textile Market: Global Industry Analysis and
Opportunity Assessment 2015-2020”. According to the report, the global
technical textile market is anticipated to grow at a CAGR of 4.5% during the forecast
period. Key driving factors identified in the Indian technical textile market
include robust growth of the automotive sector in emerging markets and
government support to Manufacturers to boost manufacturing.
COMPANY OVERVIEW AND OUTLOOK
The Indian textile industry is set for strong growth, buoyed by both
strong domestic consumption as well as export demand. Abundant availability of
raw materials has made India a sourcing hub for the textile sector.
In India,
technical textiles is one of the fastest growing segment. It has registered
compounded annual growth rate of 11% during 11th five year plan and projected
growth of 20% for technical textiles. This translates into market size
increasing from USD13 billion to USD 36 billion by 2016-2017. The Ministry of
Textiles has launched a comprehensive technology mission on technical textiles
for providing infrastructure support for manufacture of technical textiles and
market development support to technical textile manufacturers for a period of
five years with the fund outlay of `Rs.7000.000 Million.
The Management of
Aunde India Ltd. is making all efforts on a suitable opportunity in the
technical textile space. The Companys’ management is keeping all its options
open to pursue a profitable business opportunity with its resources.
HIGHLIGHTS OF PERFORMANCE:
During the period
under review, the Company’s revenue from operations stood at Rs.808.133 Million
(9 Months) as against Rs.1349.495 Million in the previous year. The Operational
revenue Rs.891.227 Million of the Company is earned through domestic sales of
Rs.716.747 Million and Export Sales of Rs.174.480 Million . The Company has
suffered a Net Loss of Ras.48.177 Million as compared to the Loss of Rs.13.770
Million during the previous accounting year.
Reasons for
underperformance:
Cost of materials increased in FY 2015 majorly due to non-pass through
of rise in price of raw materials to the end customers. Write off of obsolete
inventory on account of phasing off of car models also had an impact on the
profitability.
UNSECURED LOAN
|
PARTICULARS |
31.06.2015 (Rs.
in Million) |
31.06.2014 (Rs.
In Million) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from others |
241.853 |
214.156 |
|
|
|
|
|
Total |
241.853 |
214.156 |
INDEX
OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10488143 |
25/03/2014 |
30,000,000.00 |
The Saraswat
Co-operative Bank Limited |
The Saraswat
Co-operative Bank Limited, 1st floor, Ranade Road, Dadar, Mumbai,
Maharashtra – 400028, INDIA |
C02281004 |
|
2 |
10449311 |
30/08/2013 |
40,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B85119337 |
|
3 |
10449318 |
26/08/2013 |
34,530,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B85120467 |
|
4 |
10445966 |
14/08/2013 |
5,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B83518894 |
|
5 |
10445103 |
14/08/2013 * |
37,500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B83518100 |
|
6 |
10436767 |
02/07/2013 |
8,900,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH,, POPATLAL NI |
B79580478 |
|
7 |
10429229 |
06/05/2013 |
1,850,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B76364983 |
|
8 |
10420100 |
28/03/2013 |
3,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BR, POPATLAL NIWAS, |
B73301624 |
|
9 |
10404892 |
24/01/2013 |
5,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B68688175 |
|
10 |
10400392 |
21/01/2013 |
1,850,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SMALL AND MEDIUM
ENTERPRISES BRANCH, POPATLAL NI |
B67048520 |
UNAUDITED
FINANCIAL RESULTS FOR THE QUARTER ENDED, 30.06.2015
(Rs.
In Million)
|
Sr. No. |
Particulars |
As on 30.06.2015 (Unaudited) |
||
|
|
|
|
||
|
1 |
(a) Gross Sales/Income from Operations |
321.000 |
||
|
|
Less : Excise Duty |
33.900 |
||
|
|
(b)Other Operating Income |
|
||
|
|
Total Income
From Operations (Net) |
287.700 |
||
|
2 |
Expenditure |
|
||
|
|
(a) |
Cost of Materials Consumed |
165.000 |
|
|
|
(b) |
Purchases of Stock-in-Trade |
|
|
|
|
(c) |
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
26.900 |
|
|
|
(d) |
Employees benefits expense |
17.000 |
|
|
|
(e) |
Depreciation and amortization expense |
11.000 |
|
|
|
(f ) |
Other expenses |
64.100 |
|
|
|
|
TOTAL (B) |
284.000 |
|
|
|
|
|
||
|
3 |
Profit from operation before other income, interest and other
exceptional items(1-2) |
3.700 |
||
|
4 |
Other Income |
9.600 |
||
|
5 |
profit before interest and exceptional items(3+4) |
7.300 |
||
|
6 |
Interest |
19.700 |
||
|
7 |
Profit after interest but before exceptional items(5-6) |
(12.400) |
||
|
8 |
Exceptional Items |
0.000 |
||
|
9 |
Profit(+)/Loss(-) from Ordinary Activities before tax (7-8) |
(12.400) |
||
|
10 |
Tax Expenses |
0.000 |
||
|
11 |
Net Profit(+)/Loss(-) from Ordinary Activities after tax( 9-10) |
(12.400) |
||
|
12 |
Extra Ordinary Items |
|
||
|
13 |
Net Profit(+)/Loss(-) for the period (1112) |
|
||
|
14 |
Paid-up Equity Share Capital Rs.10/ per share |
10.72 |
||
|
15 |
Reserves excluding revaluation reserves |
|
||
|
16 |
Earning Per
Share |
|
||
|
(a) |
Basic and diluted EPS before Extraordinary items for the period, for
the year to date and for the previous year(not to be annualised) |
(1.15) |
||
|
(b) |
Basic and diluted EPS after Extraordinary
items for the period, for the year to date and for the previous year(not to
be annualised) |
(1.15) |
||
|
17 |
Public
Shareholding |
|
||
|
|
Number of Shares |
2720807 |
||
|
|
Percentage of Shareholding |
25.37 |
||
|
18 |
Promoters and Promoter group |
|
||
|
|
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) |
-- |
||
|
|
b) Non-encumbered |
|
||
|
|
Number of shares |
800400 |
||
|
|
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) |
74.63 |
||
|
|
Particulars |
Quarter Ended 30.06.2015 |
||
|
|
INVESTOR
COMPLAINTS |
|
||
|
|
Pending at the beginning of the quarter |
NIL |
||
|
|
Received during the quarter |
NIL |
||
|
|
Disposed off during the quarter |
NIL |
||
|
|
Remaining unresolved at the end of the quarter |
NIL |
||
Note:
The above results were reviewed
by the Audit Committee and were taken on record by the Board of Directors at
their respective meetings held on August 12, 2015 and Statutory Auditors of the
Company have carried out a Limited Review of above results.
The Accounting standard No. 17 relating to segment-wise reporting is not
applicable as the company operates in only one segment viz. Automotive
Technical Fabric.
Deferred Tax for the current period would be considered in the audited accounts
at the end of the year.
The Company has not ascertained the useful life of its Fixed Assets and not
worked out depreciation as per Schedule II of the Companies Act 2013. The
depreciation charged in the books is as per Schedule XIV of the Companies Act
1956.
The Company does not have any current tax liability for the quarter.
The figures for the last quarter are the balancing figures between audited
figures in respect of full financial year and published year-to-date figures
upto the third quarter of the relevant financial year.
The previous year figures have been re-grouped/reclassified wherever necessary.
FIXED ASSETS
- Land
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipments
- Electrical Installation
- 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 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.64.89 |
|
|
1 |
Rs.100.39 |
|
Euro |
1 |
Rs.73.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
AMT |
|
|
|
|
Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
41 |
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.