MIRA INFORM REPORT

 

 

Report No. :

339073

Report Date :

07.09.2015

 

 IDENTIFICATION DETAILS

 

Name :

KESORAM INDUSTRIES LIMITED

 

KESORAM RAYONPROP A DIVISION OF KESORAM INDUTSIRES LIMITED

 

 

Registered Office :

8th Floor, 9/1, R. N. Mukherjee Road, Kolkata – 700001, West Bengal

Tel. No.:

91-33-22429454

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

18.10.1919

 

 

Com. Reg. No.:

21-003429

 

 

Capital Investment / Paid-up Capital :

Rs. 1097.686 Million

 

 

CIN No.:

[Company Identification No.]

L17119WB1919PLC003429

 

 

IEC No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

Not Available

 

 

Legal Form :

A Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges.

 

 

Line of Business :

Subject is engaged in manufacturing of tyres and tubes, cement, viscose filament rayon yarn (VFRY), transparent paper.

 

 

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

 

Maximum Credit Limit :

USD 13000000

 

 

Status :

Satisfactory

 

 

Payment Behavior :

Slow but correct

 

 

Litigation :

Exist

 

 

Comments :

Subject is a flagship company of the B.K. Birla Group. Subject is an old company incorporated in the year 1919.

 

Rating constraints on account of moderate financial risk profile of the company marked by highly leveraged capital structure and continuous losses from its operations.

 

However, rating takes into consideration long and established track record of the company and strong brand recognition of BK Birla group in the cement and tyre segment.

 

Trade relations are fair. Business is active. Payment terms are reported to be slow but correct.

 

In view of experience promoters and strong support, the company can be considered for business dealings with 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

CARE

Rating

Long-term Bank Facilities = A-  “Credit watch”

Rating Explanation

Adequate degree of safety and low credit risk.

Date

April 03, 2015

 

Rating Agency Name

CARE

Rating

Short-term Bank Facilities = A2+ “Credit Watch”

Rating Explanation

Strong degree of safety and low credit risk.

Date

April 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 31-03-2013.

 

INFORMATION DENIED

 

MANAGEMENT NON-CORPORATIVE

 

CONTACT NO. 91-33-22429454

 

 

LOCATIONS

 

Registered Office :

8th Floor, 9/1, R. N. Mukherjee Road, Kolkata – 700001, West Bengal, India

Tel. No.:

91-33-22429454 / 22480764 / 2213 0441 /  2243 5453

Fax No.:

91-33-22109455

E-Mail :

corporate@kesoram.net

sksharma@kesoram.net

Website :

www.kesocorp.com

 

 

Factory 1 :

Industry House 10,  Camac Street, 11th floor,  Kolkata – 700017, West Bengal,  India

Tel. No.:

91-33-2282472 / 22828277

Fax No.:

91-33-33828879

 

 

Plant Locations :

 

 

 

Factory 2 :

Sedam, Dist. Gulbarga - 585222, Karnataka, India

Tel. No.:

91-8441-276005/277403,

Fax No.:

91-8441-276139

E-mail:

Communication@Vasavadattacement.Com

 

 

Storage and Packing Unit :

I) Survey No.296/7/4, IDA Bollaram Village, Jinnaram Mandel, Medak District. - 502325, Telangana, India

II) T-3 MIDC Chincholi, Taluk : Mohal, Solapur- 413255, Maharashtra, India

Phone :

91-217-2357060

 

 

Factory 3 :

Basantnagar, District. Karimnagar - 505187, Telangana - India

Tel. No.:

91-8728-228122/228125/228156

Fax No.:

91-8728-228160

E-mail:

Communication@Kesoramcement.Com

 

 

Factory 4 :

P.O. Chhanpur, Via.Kuruda, District. Balasore - 756056, Baleswar, Odisha, India 

Tel. No.:

91-6782-255259/780/620

Fax No.:

91-6782-255225

E-mail:

btbls@birlatyres.org

 

 

Factory 5 :

Gram Khedimubarakpur, Tehsil-Laksar, District-Haridwar - 247663, Uttarakhand, India

Tel. No.:

91-1332- 256000/256001

Fax No.:

91-1332- 255226

E-mail:

bthdr@birlatyres.org

 

 

Factory 6 :

P.O. Nayasarai, Railway. Station: Kuntighat, On Howrah-Katwa Route, District. Hooghly, West Bengal-712513, India

Tel. No.:

91-33-26846431-34/ 26846457

Fax No.:

91-33-26846461

E-mail:

works@kesoramrayon.com

 

 

Factory 7 :

P.O. Adcconagar, Bansberia, District. Hooghly - 712121, West Bengal, India

Tel. No.:

91-33-26346465

 

 

Factory 8 :

19, B. T. Road, Khardah, P.O. Balaram Dharma Sopan - 700116, Kolkata, India

Tel. No.:

91-33-25535183

 

 

DIRECTORS

 

AS ON 08.07.2014

 

Name :

Pesi Kushru Choksey

Designation :

Director

Address :

Bentleys - Room 16, 17 Oliver Street Colaba, Mumbai - 400039, Maharashtra, India

Date of Birth/Age :

02.02.1923

PAN No.:

ACTPC6994J

Date of Appointment :

03.08.1984

DIN No.:

00060508

 

 

Name :

Amitabha Jugalkishore Ghosh

Designation :

Director

Address :

Flat No-32, Mehr Naz, 91, Cuffe Parade, Mumbai - 400005, Maharashtra, India

Date of Appointment :

08.07.2014

DIN No.:

00055962

 

 

Name :

Sudip Banerjee

Designation :

Director

Address :

255 Adarsh Palm Meadows, Ramagondanahalli Whitefie, Bangalore - 560066, Karnataka, India

Date of Birth/Age :

01.02.1960

PAN No.:

AANPB2951Q

Date of Appointment :

29.04.1914

DIN No.:

05245757

 

 

Name :

Kashi Prasad Khandelwal

Designation :

Director

Address :

24A Shakespeare Sarani, Circus Avenue, Kolkata - 700017, West Bengal, India

Date of Birth/Age :

04.03.1951

PAN No.:

AETPK9443E

Date of Appointment :

10.04.2012

DIN No.:

00748523

 

 

Name :

Basant Kumar Birla

Designation :

Director

Address :

Basant Vihar, 18, Gurusaday Road, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

16.02.1921

PAN No.:

AEKPB3110L

Date of Appointment :

23.08.1940

DIN No.:

00055856

 

 

Name :

Vinay Sah

Designation :

Nominee Director

Address :

B-4/4 Jeevan Santhi Colony, S.V. Road, Santacruuz - West, Mumbai - 400054, Maharashtra, India

Date of Birth/Age :

09.11.1959

PAN No.:

AFBPS4740M

Date of Appointment :

03.11.1911

DIN No.:

02425847

 

 

Name :

Kamal Chand Jain

Designation :

Whole-Time Director

Address :

Plot No 12, Whisper Valley Behind Darga, Hyderabad - 500008, Andhra Pradesh, India

Date of Birth/Age :

10.10.1939

PAN No.:

AAMPJ3188A

Date of Appointment :

15.04.1911

DIN No.:

00029985

 

 

Name :

Manjushree Khaitan

Designation :

Whole-Time Director

Address :

Basant Vihar, 18. Gurusadya Road, Kolkata - 700019, West Bengal, India

Date of Birth/Age :

24.12.1955

PAN No.:

AGFPK0198L

Date of Appointment :

30.10.1998

DIN No.:

00055898

 

 

Name :

Lee Seow Chuan

Designation :

Additional Director

Address :

59, Lentor Walk, Singapore - 2678, Singapore

Date of Appointment :

08.08.2014

DIN No.:

02696217

 

 

KEY EXECUTIVES

 

Name :

Arvind Kumar Singh

Designation :

Chief Executive Officer

Address :

Le Palmerie, 23B, Ballygaunge Circular Road,, Kolkata - 700019, West Bengal, India

PAN No :

AOAPS0881B

 

 

Name :

Tridib Kumar Das

Designation :

Chief Finance Officer

Address :

5 A/B, Amravati, 63, Purna Das Road, Kolkata - 700029, West Bengal, India

PAN No :

AGFPD1367E

 

 

Name :

Gautam Ganguli

Designation :

Company Secretary

Address :

49 C, Block - C, New Alipore, Kolkata - 700053, West Bengal, India

PAN No :

ACWPG0195L

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.06.2015

 

Category of Shareholder

Total No. of Shares

Total Shareholding as a % of Total No. of Shares

As a % of (A+B+C)

(A) Shareholding of Promoter and Promoter Group

http://www.bseindia.com/include/images/clear.gif(1) Indian

 

 

http://www.bseindia.com/include/images/clear.gifIndividuals / Hindu Undivided Family

1312409

1.20

http://www.bseindia.com/include/images/clear.gifBodies Corporate

51064793

46.52

http://www.bseindia.com/include/images/clear.gifSub Total

52377202

47.72

http://www.bseindia.com/include/images/clear.gif(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

52377202

47.72

(B) Public Shareholding

http://www.bseindia.com/include/images/clear.gif(1) Institutions

 

 

http://www.bseindia.com/include/images/clear.gifMutual Funds / UTI

79315

0.07

http://www.bseindia.com/include/images/clear.gifFinancial Institutions / Banks

1515744

1.38

http://www.bseindia.com/include/images/clear.gifInsurance Companies

4337286

3.95

http://www.bseindia.com/include/images/clear.gifForeign Institutional Investors

4078147

3.72

http://www.bseindia.com/include/images/clear.gifSub Total

10010492

9.12

http://www.bseindia.com/include/images/clear.gif(2) Non-Institutions

 

 

http://www.bseindia.com/include/images/clear.gifBodies Corporate

13230663

12.05

http://www.bseindia.com/include/images/clear.gifIndividuals

 

 

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital up to Rs. 0.100 Million

15609525

14.22

http://www.bseindia.com/include/images/clear.gifIndividual shareholders holding nominal share capital in excess of Rs. 0.100 Million

7002969

6.38

http://www.bseindia.com/include/images/clear.gifAny Others (Specify)

4495924

4.10

http://www.bseindia.com/include/images/clear.gifNon Resident Indians

516863

0.47

http://www.bseindia.com/include/images/clear.gifOverseas Corporate Bodies

3742735

3.41

http://www.bseindia.com/include/images/clear.gifTrusts

3422

0.00

http://www.bseindia.com/include/images/clear.gifOthers

232904

0.21

http://www.bseindia.com/include/images/clear.gifSub Total

40339081

36.75

Total Public shareholding (B)

50349573

45.87

Total (A)+(B)

102726775

93.58

(C) Shares held by Custodians and against which Depository Receipts have been issued

 

 

http://www.bseindia.com/include/images/clear.gif(1) Promoter and Promoter Group

0

0.00

http://www.bseindia.com/include/images/clear.gif(2) Public

7041875

6.42

http://www.bseindia.com/include/images/clear.gifSub Total

7041875

6.42

Total (A)+(B)+(C)

109768650

100.00

 

 

 

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Subject is engaged in manufacturing of tyres and tubes, cement, viscose filament rayon yarn (VFRY), transparent paper.

 

 

Products :

ITEM Code No.

Product Description

25232930

Port Land Pozzolana Cement

28070010

Sulphuric Acid

28131000

Carbon Disulphide

28331990

Other Sodium Sulphates

39207111

Cello Phane Transparent Film

40112090

Other Tyres Used on Buses/Lorries

40129049

Tyre Flaps Used in Other Vehicles

40131020

Inner Tubes For Track and Bus

54033100

Othr Yarn of Viscose Rayon,Sngl,Untw Std/ With A Twist Nt Excdng 120 Turns Per Metre

68101110

Cement Bricks

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Not Divulged

 

 

Purchasing :

Not Divulged

 

PRODUCTION STATUS: NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

Customers :

Reference :

Not Divulged

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

Information declined by the management

 

 

Bankers :

Bank Name

ICICI Bank Limited

Branch

2B Gorky Terrace,, Kolkata - 700017, West Bengal, India

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Not Divulged

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

  • The Karur Vysya Bank Limited, Post Box No.21,, Erode Road, Karur - 639002, Tamil Nadu, India

 

  • Indusind Bank Limited., 2401 Gen Thimmayya Road, Contonment, Pune - 411001, Maharashtra, India

 

  • Syndicate Bank, Large Corporate Branch, LIC Building, Illaco House, 1st Brabourne Road, Kolkata - 700001, West Bengal, India

 

  • The South Indian Bank Limited, Corporate Branch, 2 Church Lane, Kolkata - 700001, West Bengal, India

 

  • Union Bank of India, Industrial Finance Branch,  1/1 Camac Street, Kolkata - 700016, West Bengal, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Rupee term loans from banks

15687.400

20575.500

Foreign currency term loans from banks 

0.000

1579.600

Term loans from others

6690.200

2629.100

Long-term maturities of finance lease obligations

(The finance lease obligations in

respect of SAP software and Audi

A6 car which are secured against the said assets.)

51.000

1.500

Short-term borrowings

 

 

Rupee term loans from banks

270.000

0.000

Foreign currency term loans from banks

0.000

3848.400

Term loans from others

1200.000

0.000

Working capital loans from banks

12719.800

10889.300

Total

36618.400

39523.400

 

Financial institutions : 

West Bengal Infrastructure Development Finance Corporation Limited, 36A,, Hemanta Basu Sarani, Kolkata - 700001, West Bengal, India

 

 

Auditors :

 

Name :

Price Waterhouse

Chartered Accountants

Address :

Plot No Y14, Block Ep, Sector - V , Salt Lake Electronic Complex , Bidhannagar, Kolkata -  700091, West Bengal, India

PAN. No.:

AAEFP3641G

 

 

Cost Auditor :

Mani and Company

Chartered Accountants

 

 

Memberships :

-----

 

 

Collaborators :

-----

 

 

Enterprises where Key Management personnel have significant influence Enterprise over which person referred to in '(c)' above is able to exercise

significant influence :

 
  • Aditya Marketing and  Manufacturing Limited
  • MSK Travels and Tours Limited
  • Jay Shree Tea and Industries Limited
  • Parvati Tea Company. Private. Limited @
  • Birla Holdings Limited @
  • North Tukvar Tea Company. Limited @
  • Mangalam Cement Limited ##
  • Synergy Enterprise ***
  • A.K. Enterprise ***

 

 

Other Related Parties:
  • Century Textiles and Industries Limited.
  • Century Enka Limited.

 

 

Joint Venture:
  • Gondkhari Coal Mining Limited

 

* Appointed Whole time Director designated as Executive Vice Chairperson, effective 5th February, 2013

** Related to Smt Manjushree Khaitan, a key management personnel.

*** Shri Sunil Kumar Jain is son of Shri K.C. Jain, proprietor of A.K. Enterprise and partner of Synergy Enterprises.

**** The parties stated in (f) above are Related Parties in the broader sense of the term and are included for making the financial statements more

Transparent.

 

@ Subsidiary companies of Jay Shree Tea and Industries Limited of which Smt Jayashree Mohta is a key personnel.

# There has been no transactions with the above parties after Smt Khaitan became Executive Vice Chairperson.

## Smt Vidula Jalan is a key management personnel of it.

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

550000000

Equity Shares

Rs.10/- each

Rs. 5500.000 Million

15000000

Preference shares

Rs.100/- each

Rs. 1500.000 Million

 

Total

 

Rs. 7000.000 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

109768650

Equity Shares

Rs.10/- each

Rs. 1097.700 Million

 

 

FINANCIAL DATA

[All figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

1097.700

457.400

457.400

(b) Reserves & Surplus

3610.400

5345.000

8692.700

(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)

4708.100

5802.400

9150.100

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

25497.500

27743.900

27557.700

(b) Deferred tax liabilities (Net)

0.000

0.000

572.100

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

25497.500

27743.900

28129.800

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

14941.100

16308.000

13495.700

(b) Trade payables

5853.900

4906.300

4834.000

(c) Other current liabilities

10590.800

9180.900

8901.900

(d) Short-term provisions

732.400

797.500

715.600

Total Current Liabilities (4)

32118.200

31192.700

27947.200

 

 

 

 

TOTAL

62323.800

64739.000

65227.100

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

32166.200

34438.400

35847.400

(ii) Intangible Assets

104.900

29.300

21.100

(iii) Capital work-in-progress

7308.300

7044.900

6235.200

(iv) Intangible assets under development

0.000

0.000

3.600

(b) Non-current Investments

663.600

663.600

663.600

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

897.700

1266.600

1562.300

(e) Other Non-current assets

3.200

9.400

22.100

Total Non-Current Assets

41143.900

43452.200

44355.300

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

8941.300

9127.500

9951.600

(c) Trade receivables

9040.000

8356.700

6724.400

(d) Cash and cash equivalents

772.100

836.600

695.900

(e) Short-term loans and advances

2175.400

2829.700

3117.300

(f) Other current assets

251.100

136.300

382.600

Total Current Assets

21179.900

21286.800

20871.800

 

 

 

 

TOTAL

62323.800

64739.000

65227.100

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

50809.100

57108.200

59208.600

 

Other Income

1245.400

1310.400

840.000

 

TOTAL

52054.500

58418.600

60048.600

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

24117.300

28495.700

34240.200

 

Purchases of Stock-in-Trade

611.600

835.300

521.900

 

Exceptional Items

0.000

0.000

(112.200)

 

Changes in inventories of finished goods, work-in-progress and Stock-in-Trade

(426.800)

(559.600)

1251.400

 

Employees benefits expense

4087.000

3809.100

3346.800

 

Other expenses

19559.100

21407.100

20827.500

 

TOTAL

47948.200

53987.600

60075.600

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

4106.300

4431.000

(27.000)

 

 

 

 

 

Less

FINANCIAL EXPENSES

5728.300

5143.600

4101.500

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION 

(1622.000)

(712.600)

(4128.500)

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

3181.000

3059.300

2974.000

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

(4803.000)

(3771.900)

(7102.500)

 

 

 

 

 

Less

TAX

352.500

(479.600)

(3305.100)

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

(5155.500)

(3292.300)

(3797.400)

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

2938.800

6284.600

(2434.100)

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Proposed Dividend

0.000

45.700

45.700

 

Dividend

0.000

7.800

7.400

 

Total

0.000

53.500

53.100

 

 

 

 

 

 

Balance Carried to the B/S

(2216.700)

2938.800

(6284.600)

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

3706.900

4276.600

5118.700

 

Freight

 

 

 

 

Insurance

 

 

 

 

TOTAL EARNINGS

3706.900

4276.600

5118.700

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

5068.900

5381.600

8873.500

 

Components and Stores parts

588.900

236.000

164.500

 

Capital Goods

191.400

790.100

1365.400

 

TOTAL IMPORTS

5849.200

6407.700

10403.400

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

(54.32)

(69.37)

(83.02)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

8592.700

6732.700

6481.900

Cash generated from operations

NA

NA

NA

Net cash flow from (used in) operations

4166.900

4405.900

2205.600

Net cash flows from operating activities

4284.800

4487.100

2455.300

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

(10.15)

(5.77)

(6.41)

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

8.08

7.76

(0.05)

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

(8.84)

(6.61)

(12.18)

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

(1.02)

(0.65)

(0.78)

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

10.41

8.75

5.20

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

0.66

0.68

0.75

 

 

STOCK PRICES

 

Face Value

Rs. 10.00/-

Market Value

Rs. 92.80/-

 

 

FINANCIAL ANALYSIS

[All figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

457.400

457.400

1097.700

Reserves & Surplus

8692.700

5345.000

3610.400

 Share Application money pending allotment

0.000

0.000

0.000

Net worth

9150.100

5802.400

4708.100

 

 

 

 

long-term borrowings

27557.700

27743.900

25497.500

Short term borrowings

13495.700

16308.000

14941.100

Current maturities of long-term debts

6481.900

6732.700

8592.700

Total borrowings

47535.300

50784.600

49031.300

Debt/Equity ratio

5.195

8.752

10.414

 

 

 

YEAR-ON-YEAR GROWTH

 

Year on Year Growth

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

59208.600

57108.200

50809.100

 

 

(3.547)

(11.030)

 

 

 

NET PROFIT MARGIN

 

 

Net Profit Margin

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales

59208.600

57108.200

50809.100

Profit

(3797.400)

(3292.300)

(5155.500)

 

(6.41%)

(5.77%)

(10.15%)

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

------

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

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

 

 

UNSECURED LOAN

 

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long term borrowing

 

 

Deposits from others

3068.900

2958.200

Short term borrowing

 

 

Rupee term loans from banks

350.000

500.000

Foreign currency term loans from banks

118.200

0.000

Public deposits

51.100

37.100

Deposits from others

232.000

33.200

Rupee term loans from others

0.000

1000.000

Total

3820.200

4528.500

 

INDEX OF CHARGES:

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10583830

02/07/2015

2,500,000,000.00

YES BANK LIMITED

9TH FLOOR, NEHRU CENTRE, DISCOVERY OF INDIA,, DR. 
ANNIE BESANT ROAD, WORLI,, MUMBAI - 
400018, Maharashtra, INDIA

C60688751

2

10579044

27/06/2015

2,250,000,000.00

INDUSIND BANK LTD.

Savitri Towers, 3A Upper Wood Street, Kolkata - 700017, West Bengal, INDIA

C58480021

3

10568067

24/02/2015

450,000,000.00

INDUSIND BANK LTD.

Savitri Towers, 3A Upper Wood Street, Kolkata - 700017, West Bengal, INDIA

C53002390

4

10559804

31/12/2014

150,000,000.00

THE KARUR VYSYA BANK LIMITED

POST BOX NO.21,, ERODE ROAD, KARUR  - 
639002, Tamil Nadu, INDIA

C49369770

5

10542102

29/05/2015 *

2,000,000,000.00

SBICAP TRUSTEE COMPANY LIMITED

202, MAKER TOWER, 'E', CUFFE PARADE,, COLABA,, MUMBAI - 400005, Maharashtra, INDIA

C56036932

6

10530252

29/05/2015 *

1,500,000,000.00

THE SOUTH INDIAN BANK LIMITED

Corporate Branch, Oswal Chambers, 2 Church Lane, 
Kolkata - 700001, West Bengal, INDIA

C57062234

7

10520249

29/05/2015 *

1,500,000,000.00

IFCI LIMITED

IFCI TOWER61 NEHRU PLACE, NEW DELHI - 11001 
9, INDIA

C56987308

8

10517805

29/05/2015 *

4,000,000,000.00

AXIS BANK LIMITED

CORPORATE BANKING BRANCH (CBB),, 1, SHAKESPEARE S 
ARANI, AC MARKET, 3RD FLOOR,, KOLKATA - 700071, West Bengal, INDIA

C58162033

9

10506736

12/02/2015 *

5,250,000,000.00

INDUSIND BANK LTD.

Savitri Towers, 3A Upper Wood Street, Kolkata - 700017, West Bengal, INDIA

C46153656

10

10490261

29/05/2014 *

1,000,000,000.00

West Bengal Infrastructre Development Finance Cor 
poration Limited

36A,, Hemanta Basu Sarani, Kolkata - 
700001, West Bengal, INDIA

C04856217

 

 

LITIGATION DETAILS:

 

  

High Court of Calcutta - Original Side

Case Status Information System

 

Case Status :

Pending

Status of :

COMPANY PETITIONS (CP)  485  Of  2013

Litigants :

RE: SUPREME PAPER MILLS LTD -AND- Vs.  KESORAM INDUSTRIES LTD

Pet's Adv :

SANDERSONS & MORGANS

Res's Adv :

Last Date of Hearing :

Tuesday, June 17, 2014

Next / Final Date of Hearing :

Thursday, June 19, 2014

Case Updated On :

Thursday, June 19, 2014

Category :

---

 

Connected Application(s)

 

No Connected Application

 

Connected Matter(s)

 

No Connected Cases

 

 

FIXED ASSETS

 

Tangible Assets

 

  • Land
  • Buildings
  • Furniture and fixtures
  • Plant and equipment
  • Vehicles
  • Office equipment
  • Livestock
  • Railway sidings

 

 

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 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 exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                                       None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                        None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                        None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report : No press reports / filings exists on the subject.

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency

 
Unit

Indian Rupees

US Dollar

1

Rs. 66.40

UK Pound

1

Rs.101.19

Euro

1

Rs. 73.89

 

 

INFORMATION DETAILS

 

Information Gathered by :

KMN

 

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SANS

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILITY

1~10

3

--LIQUIDITY

1~10

4

--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

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

 

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 unfavorable 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

 

--

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.