MIRA INFORM REPORT
|
Report No. : |
339811 |
|
Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
USHER AGRO LIMITED |
|
|
|
|
Registered
Office : |
422,Laxmi Plaza, Laxmi Industrial Estate, New Link Road
Andheri (West), Mumbai – 400053, Maharashtra |
|
Tel. No.: |
91-22-39381100 |
|
|
|
|
Country : |
India |
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|
|
|
Financials (as
on) : |
31.03.2015 |
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|
|
|
Date of
Incorporation : |
20.06.1996 |
|
|
|
|
Com. Reg. No.: |
11-100380 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.380.590 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L01100MH1996PLC100380 |
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|
|
|
IEC No.: |
0397083106 |
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|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACU1095N |
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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 engaged in the business of food processing mainly basic food
i.e. Wheat, rice, pulses and also engaged in Bio Mass Power generation and
logistic. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
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 11700000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject was incorporated in the year 1996 and it is engaged in the
business of food processing. Subject is an established company has a
satisfactory track record. Rating takes into consideration extensive industry experience of
promoters in food processing business backed by sound financial base along
with above average profit margins and established rice and wheat distribution
network. However, rating strength partially offset by uncertainties associated
with agro commodities business coupled with higher influence of government
regulations on pricing, volatile commodity prices and competition from the
unorganized sector. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. In view of aforesaid, the company can be considered for business
dealings at usual trade terms and condition. |
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 Bank Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
April 07, 2015 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
April 07, 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 PARTED BY
|
Name : |
Mr. Hemant Chaurvedi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-39381100 |
|
Date : |
03.09.2015 |
LOCATIONS
|
Registered Office / Corporate Office : |
422,Laxmi Plaza, Laxmi Industrial Estate, New Link Road
Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-39381100 |
|
Fax No.: |
91-22-39381123 |
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E-Mail : |
|
|
Website : |
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|
Area : |
2000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Marketing Office : |
405, Pearls Best Heights-II, Netaji Subhas Place, New Delhi - 110034,
India |
|
E-Mail : |
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|
|
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Plant 1 : |
158, Gohari, Delhi- Agra Highway, Chhata, District
Mathura – 281001, Uttar Pradesh, India |
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Plant 2 : |
632-634, Duatana, Delhi Agra Highway, Chhata, District Mathura –
281001, Uttar Pradesh, India |
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|
|
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Plant 3 : |
239, Maholi, Krishna Nagar, Off Delhi- Agra Highway, Mathura, District
Mathura - 281004, Uttar Pradesh, India |
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|
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Plant 4 : |
Plot No. 1898, Chaubeji ki Chhavani. Jalilpur Thana, Rajpur, District
Buxar - 801144, Bihar, India |
DIRECTORS
As on 30.06.2014
|
Name : |
Dr. Vinod Kumar Chaturvedi |
|
Designation : |
Managing Director |
|
Address : |
B-5/202, Mangal Nagar, Yari Road, Andheri West, Mumbai-40006, Maharashtra, India |
|
Date of Birth : |
01.08.1965 |
|
Date of Appointment
: |
30.12.2000 |
|
|
|
|
Name : |
Mr. Manoj Pathak |
|
Designation : |
Whole Time Director |
|
Qualification : |
Graduate in Commerce and law |
|
|
|
|
Name : |
Mr. Vijay Ranchan |
|
Designation : |
Non-Executive Independent Director |
|
Address : |
Plot No. 131, Sector 8, Gandhinagar-382000, Gujarat, India |
|
Date of Birth : |
01.10.1942 |
|
Date of Appointment
: |
30.12.2004 |
|
Qualification : |
Master degree in Arts |
|
|
|
|
Name : |
Mr. Ajay Prakash Arora |
|
Designation : |
Non-Executive Independent Director |
|
Address : |
305, Wing 3-B, Dheeraj Enclave, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth : |
08.05.1941 |
|
Date of Appointment
: |
29.12.2006 |
|
Qualification : |
Master Degree in Commerce and is a Certified Associate of Indian Institute
of Bankers (CAIIB). |
|
|
|
|
Name : |
Mr. Prakash Arora |
|
Designation : |
Non-Executive Independent Director |
|
Qualification : |
Graduate in Animal Science |
|
|
|
|
Name : |
Mr. Prem Chand Tiwari |
|
Designation : |
Non-Executive Independent Director |
|
|
|
|
Name : |
Mrs. Baljinder Kaur Mandal |
|
Designation : |
Nominee Director IDBI Bank (Appointed 29.06.2013) |
KEY EXECUTIVES
|
Name : |
Mrs. Sarika S. Singh |
|
Designation : |
Company Secretary |
|
|
|
|
Name : |
Mr. Hemant Chaturvedi |
|
Designation : |
Finance Department |
SHAREHOLDING PATTERN
AS ON 30.06.2015
|
Category of
Shareholder |
No. of Shares |
% of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
8308630 |
21.83 |
|
|
3953740 |
10.39 |
|
|
3953740 |
10.39 |
|
|
12262370 |
32.22 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
12262370 |
32.22 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
1565999 |
4.11 |
|
|
2844767 |
7.47 |
|
|
4410766 |
11.59 |
|
|
|
|
|
|
7891181 |
20.73 |
|
|
|
|
|
|
5698217 |
14.97 |
|
|
6986661 |
18.36 |
|
|
809844 |
2.13 |
|
|
746371 |
1.96 |
|
|
61284 |
0.16 |
|
|
2189 |
0.01 |
|
|
21385903 |
56.19 |
|
Total Public
shareholding (B) |
25796669 |
67.78 |
|
Total (A)+(B) |
38059039 |
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) |
38059039 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject engaged in the business of food processing mainly basic food i.e.
Wheat, rice, pulses and also engaged in Bio Mass Power generation and
logistic. |
|
|
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|
Products : |
Not Divulged |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30/60/90 days) |
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|
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Purchasing : |
Cash and Credit (30/60/90 days) |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged
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Customers : |
Not Divulged
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No. of Employees : |
700 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Million)
Notes: Long Term Borrowings
Short Term Borrowings * Cash credit /working capital credit
facilities are secured by way of first pari passu charge over the entire
current assets and second pari passu charge over the entire Immovable and
moveable fixed assets of the company, both present and future created in
favour of respective banks/trustees along with personal guarantees of the
Directors of the company namely Dr. Vinod K. Chaturvedi and Mr. Manoj Pathak. |
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Auditors : |
|
|
Name 1 : |
Parekh Shah and Lodha Chartered Accountants |
|
Address : |
3111-EEE, BKC Center, Laxmi Industrial Eastae, New Link
Road, Andheri (West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-30706021-40 |
|
Fax No.: |
91-22-30706033 |
|
E-Mail : |
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|
|
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Name 2 : |
Ajmera Ajmera and Associates Chartered Accountants |
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|
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Internal
Auditors: |
|
|
Name
: |
Dinesh Bangar and Company Chartered Accountants |
|
|
|
|
Cost
Auditor : |
|
|
Name
: |
NKJ and Associates Chartered Accountants |
|
|
|
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Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
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|
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Subsidiary Company (AS ON 31.03.2014) : |
|
|
|
|
|
Wholly Owned Foreign Subsidiary Company (AS ON 31.03.2014) : |
|
|
|
|
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Enterprises owned or significantly influenced by key management personnel or their relatives (AS ON 31.03.2014) : |
|
CAPITAL STRUCTURE
As on 31.03.2015
Authorised Capital: Not Available
Issued, Subscribed & Paid-up Capital: Rs. 380.590
Million
As on 31.03.2014
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.10/- each |
Rs.500.000 Million |
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38059039 |
Equity Shares |
Rs.10/- each |
Rs.380.590 Million |
a) A reconciliation of the number of shares outstanding
at the beginning and at the end of the accounting year, is set out below:
|
Equity Shares |
|
Number
of Shares |
|
Shares outstanding at the beginning of the year |
|
38059039 |
|
Shares issued during the year |
|
-- |
|
Shares outstanding at the end of the year |
|
38059039 |
b) The Company has only one class of equity shares having a par value of Rs. 10. The equity shares have rights, preferences and restrictions which are in accordance with the provisions of law, in particular the Companies Act, 1956 below:
c) There are nil number of shares (P.Y. Nil) in respect of each class in the company held by its holding company or its ultimate holding company including shares held by or by subsidiary or associates of the holding company or the ultimate holding company in aggregate.
d) Details of equity shares held by shareholders holding more than 5% shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Mr. Vinod Kumar Chaturvedi |
4692470 |
12.33% |
|
Mr. Manoj Pathak |
3284060 |
8.63% |
|
Narayani Nivesh Nigam Private Limited |
2008740 |
5.28% |
|
Hi Tech Housing Projects Pvt Limited |
- |
- |
|
Elara India Opportunities Fund Limited |
2590312 |
6.81% |
|
Parin Trading Private Limited |
- |
- |
|
Abhi Ambi Financial Services Limited |
4951893 |
13.01% |
e)
There
are nil number of shares reserved for issue under option and contracts /commitment
for the sale of shares/disinvestment including the terms and amounts.
f)
For
the period of five years immediately preceding the date as at which the balance
sheet is prepared
|
Equity Shares |
Number
of Shares |
|
Aggregate number and class of shares allotted as fully paid-up pursuant to contract(s) without payment being received in cash |
Nil |
|
Aggregate number and class of shares allotted as fully paid-up by way of bonus shares. |
Nil |
|
Aggregate number and class of shares bought back |
Nil |
g)
During
the year there are no securities issued/converted which are convertible into
equity/preference shares. However On 15th December 2009 the company has issued
6000000 warrants on preferential basis to the promoters and others to raise Rs.
2,460 lacs through preferential allotment. out of which, 1000000 warrants and
50,00,000 warrants have been converted in to equity share in financial year
2009-10 and 2010-11 respectively.
h) There are no calls unpaid including calls
unpaid by Directors and Officers as on balance sheet date
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2015 (9 Months) |
30.06.2014 |
30.06.2013 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
380.590 |
380.590 |
380.590 |
|
(b) Reserves & Surplus |
3743.091 |
3458.173 |
2788.707 |
|
(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) |
4123.681 |
3838.763 |
3169.297 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1683.287 |
1977.559 |
1837.646 |
|
(b) Deferred tax liabilities (Net) |
257.425 |
70.636 |
113.437 |
|
(c) Other long term
liabilities |
149.465 |
146.394 |
0.144 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
2090.177 |
2194.589 |
1951.227 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
6955.655 |
5296.933 |
4252.242 |
|
(b) Trade
payables |
961.814 |
910.867 |
494.760 |
|
(c) Other
current liabilities |
1425.658 |
669.767 |
321.999 |
|
(d) Short-term
provisions |
66.606 |
67.929 |
172.900 |
|
Total Current
Liabilities (4) |
9409.733 |
6945.496 |
5241.901 |
|
|
|
|
|
|
TOTAL |
15623.591 |
12978.848 |
10362.425 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3396.538 |
3593.712 |
1382.702 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
362.005 |
300.187 |
1406.702 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
172.536 |
172.535 |
172.536 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
185.839 |
63.783 |
118.059 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4116.918 |
4130.217 |
3079.999 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
6904.623 |
5668.764 |
4092.080 |
|
(c) Trade
receivables |
3500.230 |
2649.098 |
2398.468 |
|
(d) Cash
and cash equivalents |
320.013 |
140.432 |
325.387 |
|
(e)
Short-term loans and advances |
48.215 |
155.525 |
152.745 |
|
(f) Other
current assets |
733.592 |
234.812 |
313.746 |
|
Total
Current Assets |
11506.673 |
8848.631 |
7282.426 |
|
|
|
|
|
|
TOTAL |
15623.591 |
12978.848 |
10362.425 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2015 (9 Months) |
30.06.2014 |
30.06.2013 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12767.496 |
12,228.201 |
9,493.389 |
|
|
|
Other Income |
9.116 |
15.425 |
22.315 |
|
|
|
TOTAL (A) |
12776.612 |
12,243.626 |
9,515.704 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
10967.749 |
9,916.511 |
7,905.211 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(437.031) |
94.969 |
(180.310) |
|
|
|
Employees benefits expense |
134.157 |
126.572 |
102.262 |
|
|
|
Other expenses |
433.232 |
481.918 |
381.470 |
|
|
|
Exceptional Items |
0.000 |
(19.511) |
0.000 |
|
|
|
TOTAL (B) |
11098.107 |
10,600.459 |
8,208.633 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1678.505 |
1,643.167 |
1,307.071 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
823.167 |
766.593 |
504.574 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
855.338 |
876.574 |
802.497 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
313.612 |
205.906 |
150.179 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
541.726 |
670.668 |
652.318 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
123.228 |
1.202 |
198.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
418.498 |
669.466 |
453.608 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
1,308.886 |
965.278 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Debt Redemption Reserve |
NA |
300.000 |
50.000 |
|
|
|
Proposed Dividends |
NA |
0.000 |
0.000 |
|
|
|
Corporate Dividend Tax |
NA |
0.000 |
0.000 |
|
|
|
Transfer to Reserves |
NA |
60.000 |
60.000 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1,618.352 |
1,308.886 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
494.443 |
798.283 |
|
|
TOTAL EARNINGS |
NA |
494.443 |
798.283 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
153.430 |
2.722 |
|
|
TOTAL IMPORTS |
NA |
153.430 |
2.722 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.00 |
17.59 |
11.92 |
|
QUARTERLY RESULTS
|
Particulars |
30.06.2015 (Unaudited) |
|
|
|
|
Net Sales |
4564.770 |
|
Total Expenditure |
3926.840 |
|
PBIDT (Excl OI) |
637.930 |
|
Other Income |
2.530 |
|
Operating Profit |
640.460 |
|
Interest |
283.260 |
|
Exceptional Items |
NA |
|
PBDT |
357.20 |
|
Depreciation |
99.620 |
|
Profit Before Tax |
257.580 |
|
Tax |
55.170 |
|
Provisions and
contingencies |
NA |
|
Profit After Tax |
202.410 |
|
Extraordinary Items |
NA |
|
Prior Period Expenses |
NA |
|
Other Adjustments |
NA |
|
Net Profit |
202.410 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2015 (9 Months) |
30.06.2014 |
30.06.2013 |
|
Current Maturities of Long term debt |
NA |
501.272 |
181.240 |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flow from (used in) operation |
NA |
1187.270 |
772.463 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2015 (9 Months) |
30.06.2014 |
30.06.2013 |
|
Net Profit Margin (PAT / Sales) |
(%) |
3.28 |
5.47 |
4.78 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
13.15 |
13.44 |
13.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.59 |
5.36 |
7.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.17 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.09 |
1.90 |
1.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.27 |
1.39 |
STOCK
PRICES
|
Face Value |
Rs.10.00/- |
|
Market Value |
Rs. 35.00/- |
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 |
380.590 |
380.590 |
380.590 |
|
Reserves & Surplus |
2788.707 |
3458.173 |
3743.091 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3169.297 |
3838.763 |
4123.681 |
|
|
|
|
|
|
long-term borrowings |
1837.646 |
1977.559 |
1683.287 |
|
Short term borrowings |
4252.242 |
5296.933 |
6955.655 |
|
Current Maturities of Long
Term Debt |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
6089.888 |
7274.492 |
8638.942 |
|
Debt/Equity
ratio |
1.922 |
1.895 |
2.095 |
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 |
9493.389 |
12228.201 |
12767.496 |
|
|
|
28.808 |
4.410 |
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 |
9493.389 |
12228.201 |
12767.496 |
|
Profit |
453.608 |
669.466 |
418.498 |
|
|
4.78% |
5.47% |
3.28% |
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 |
Yes |
|
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 |
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) |
Yes |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
---- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
---- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
---- |
|
33 |
Market information |
---- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN:
|
Particulars |
31.03.2015 (9
Months) Rs.
In Million |
30.06.2014 Rs.
In Million |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans Repayable on Demand- From Other Parties |
NA |
80.987 |
|
Total |
NA |
80.987 |
STATEMENT OF STANDALONE UNAUDITED FINANCIAL RESULTS
FOR THE QUARTER ENDED 30TH JUNE 2015
(Rs. in million)
|
Particulars |
Quarter Ended |
|
30.06.2015 |
|
|
Unaudited |
|
|
|
|
|
Income from Operations |
|
|
a) Net Sales / Income
from Operations |
4550.087 |
|
b) Other Operating Income |
14.687 |
|
Total Income from
Operations (net) |
4564.774 |
|
Expenditure |
|
|
a) Cost of materials
consumed |
4108.250 |
|
b) Purchase of
stock-in-trade |
0.000 |
|
c) Changes in inventories of finished goods,
work-in-progress and stock-in-trade |
(342.612) |
|
d) Employee benefits
expense |
44.939 |
|
e) Depreciation and
amortisation expense |
99.622 |
|
f) Power and Fuel Charges |
0.000 |
|
g) Other expenses |
116.271 |
|
Total Expenses |
4026.470 |
|
Other Income |
2.530 |
|
Exchange Gain / (Loss)
(Net) |
|
|
Profit /(Loss) from Ordinary activities before finance costs and
Exceptional items (3+4a+4b) |
540.834 |
|
Finance
Costs |
283.257 |
|
Profit
/ (Loss) from ordinary activities after Finance costs but before Exceptional
items (5-6) |
257.578 |
|
Exceptional
items |
-- |
|
Profit/
(Loss) from ordinary activities before tax (7+8) |
257.578 |
|
Tax
expenses |
55.166 |
|
Net
Profit / (Loss) from ordinary activities after tax (9-10) |
202.412 |
|
Extraordinary items |
-- |
|
Net Profit / (Loss) for the period (11+12) |
202.412 |
|
Paid-up equity share
capital (Face Value of Rs. 10 per share) |
380.590 |
|
Reserve excluding
Revaluation reserve |
3945.503 |
|
Earnings Per Share (EPS)
before and after extraordinary items (of Rs. 10/- each) a) Basic b) Diluted |
5.32 5.32 |
|
|
|
|
|
|
|
PARTIULARS OF
SHAREHOLDINGS |
|
|
Public Shareholding |
|
|
- Number of Shares |
25796669 |
|
- Percentage of
Shareholding |
67.78% |
|
Promoters and Promoter Group Shareholding |
|
|
a) Pledged/Encumbered |
|
|
- Number of Shares |
300000 |
|
- Percentage of Shares
(as a % of the Total Shareholding of promoter and promoter group) |
2.45% |
|
- Percentage of Shares
(as a % of the Total Share Capital of the Company) |
0.79% |
|
b) Non Encumbered |
|
|
- Number of Shares |
11962370 |
|
- Percentage of Shares
(as a % of the Total Shareholding of Promoter and Promoter Group) |
97.55% |
|
- Percentage of Shares
(as a % of the Total Share Capital of the Company) |
31.43% |
|
PARTICULARS |
For the quarter ended 30th June 2015 |
|
B INVESTORS
COMPLAINTS |
|
|
Pending at
the beginning of the quarter |
Nil |
|
Received
during the quarter |
2 |
|
Disposed
during the quarter |
2 |
|
Remaining
unresolved at the end of the quarter |
Nil |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10564656 |
15/04/2015 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
C51369247 |
|
2 |
10559599 |
11/03/2015 |
250,000,000.00 |
TAMILNAD MERCANTILE BANK LIMITED |
Mumbai, Andheri (West) Branch, Mumbai, Maharashtra - 400053, INDIA |
C49297203 |
|
3 |
10553714 |
31/12/2014 |
300,000,000.00 |
KARUR VYSYA BANK |
Plot No. 1&2, Plot 34, Everest Grande Mahakali Caves Road, Andheri (East), Mumbai, Maharashtra - 400093, INDIA |
C45929650 |
|
4 |
10537628 |
18/12/2014 |
1,450,000,000.00 |
IDBI Bank Limited |
IDBI TOWER, WORLD TRADE COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
C37505740 |
|
5 |
10518047 |
23/08/2014 * |
2,888,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA |
C19697523 |
|
6 |
10518051 |
19/08/2015 * |
7,500,000,000.00 |
IDBI TRUSTEESHIP SERVICES LIMITED |
ASIAN BUILDING, GROUND FLOOR, 17, R. KAMANI MARG, BALLARD ESTATE, MUMBAI, Maharashtra - 400001, INDIA |
C62466982 |
|
7 |
10481445 |
27/02/2014 |
250,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B97999239 |
|
8 |
10472268 |
27/11/2013 |
270,000,000.00 |
Bank Internasional Indonesia |
One India Bulls Center,
Tower 2B, 702, 7th Floor, Maharashtra - 400013, INDIA |
B94280526 |
|
9 |
10366270 |
28/10/2013 * |
7,500,000,000.00 |
IDBI Trusteeship Services Limited |
Asian Bldg., Ground Floor, 17, R.Kamani Marg, Ballard Estate, MUMBAI, Maharashtra - 400001, INDIA |
B92239292 |
|
10 |
10193857 |
30/11/2009 |
23,000,000.00 |
TATA CAPITAL LIMITED |
ONE FORBES, DR V B GANDHI MARG, FORT, MUMBAI, Maharashtra - 400001, INDIA |
A76460682 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 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. 66.40 |
|
UK Pound |
1 |
Rs. 101.19 |
|
Euro |
1 |
Rs. 73.89 |
INFORMATION DETAILS
|
Information Gathered
by : |
SPR |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--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.