MIRA INFORM REPORT

 

 

Report No. :

339549

Report Date :

08.09.2015

 

IDENTIFICATION DETAILS

 

Name :

SIGNET INDUSTRIES LIMITED

 

 

Registered Office :

308, Acme Plaza, Opposite Sangam Cinema, Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra

Tel. No.:

91-22-32448061-64 / 30888064

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Date of Incorporation :

29.01.1985

 

 

Com. Reg. No.:

11-035202

 

 

Capital Investment / Paid-up Capital :

Rs. 395.870 Million

 

 

CIN No.:

[Company Identification No.]

L51900MH1985PLC035202

 

 

IEC No.:

1194004156

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AABCS3489F

 

 

Legal Form :

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

 

 

Line of Business :

Manufacturer of Micro Irrigation System, Sprinkler Pipe/ PVC Pipe and Agro Fittings and its Allied Products and Import of Plastic Molded Furniture, etc.

 

 

No. of Employees :

900 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 3000000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject was incorporated in the year 1985 and it is an established company having satisfactory track record.

 

Rating takes into consideration long-standing experience of the promoters in the industry supported by healthy operating margins along with geographically diversified customer base and continuous financial support received from the promoters.

 

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 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 = BBB-

Rating Explanation

Moderate degree of safety and moderate credit risk.

Date

26.02.2015

 

Rating Agency Name

CARE

Rating

Short-Term Bank Facilities = A3

Rating Explanation

Moderate degree of safety and higher credit risk.

Date

26.02.2015

 

 

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. Amit Agarwal

Designation :

Assistant Manager in Finance

Contact No.:

91-731-4217800

Date :

03.09.2015

 

 

LOCATIONS

 

Registered Office :

308, Acme Plaza, Opposite Sangam Cinema, Andheri-Kurla Road, Andheri (East), Mumbai – 400059, Maharashtra, India

Tel. No.:

91-22-32448061-64 / 30888064

Fax No.:

91-22-56941567

E-Mail :

Somani.tarun@gmail.com

info@groupsignet.com

Website :

http://www.groupsignet.com

 

 

Administrative / Corporate Office :

Survey No. 314/3, SDA Compound, Lasudia Mori, Dewas Naka, Indore – 452010, Madhya Pradesh, India

Tel. No.:

91-731-4217800

Fax No.:

91-731-4217867

E-Mail :

Info@groupsignet.com 

 

 

Factory:

Plot No: 462-465, Sector-3, Industrial Area, Pithampur, District Dhar, Madhya Pradesh, India

 

 

DIRECTORS

 

AS ON: 31.03.2014

 

Name :

Mr. Mukesh Sangla

Designation :

Director

 

 

Name :

Mr. Saurabh Sangla

Designation :

Director

 

 

Name :

Mrs. Nishtha Neema

Designation :

Director

Date of Birth/ Age:

01.12.1980

Date of Appointment :

13.08.2014

Expertise in Specific Functional Area :

Audit, Finance and Taxation

 

 

Name :

Mr. Murli Dhar Vashist

Designation :

Director

Date of Birth/ Age:

10.06.1974

Date of Appointment :

22.10.2009

Expertise in Specific Functional Area :

Audit, Finance and Taxation

KEY EXECUTIVES

 

Name :

Mrs. Preeti Singh

Designation :

Company Secretary

 

 

Name :

Mr. Amit Agarwal

Designation :

Assistant Manager in Finance

 

 

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)

(A) Shareholding of Promoter and Promoter Group

 

 

(1) Indian

 

 

Individuals / Hindu Undivided Family

7029954

24.09

Bodies Corporate

14381046

49.27

Sub Total

21411000

73.36

(2) Foreign

 

 

Total shareholding of Promoter and Promoter Group (A)

21411000

73.36

(B) Public Shareholding

 

 

(1) Institutions

 

 

(2) Non-Institutions

 

 

Bodies Corporate

7315071

25.06

Individuals

 

 

Individual shareholders holding nominal share capital up to Rs. 0.100 Million

385799

1.32

Individual shareholders holding nominal share capital in excess of Rs. 0.100 Million

71073

0.24

Any Others (Specify)

4057

0.01

Non Resident Indians

153

0.00

Clearing Members

3904

0.01

Sub Total

7776000

26.64

Total Public shareholding (B)

7776000

26.64

Total (A)+(B)

29187000

100.00

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Micro Irrigation System, Sprinkler Pipe/ PVC Pipe and Agro Fittings and its Allied Products and Import of Plastic Molded Furniture, etc.

 

 

Products :

·         Micro Irrigation System

·         Sprinkler Pipe / PVC Pipe

·         Agro Fittings

·         Plastic Molded Furniture

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

 

Products :

Finished Goods

Countries :

Singapore

 

 

Imports :

 

Products :

Raw Material

Countries :

·         Korea

·         Taiwan

·         Kuwait

·         United Arab Emirates

·         United States of America

 

 

Terms :

 

Selling :

Depend

 

 

Purchasing :

Depend

 

 

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 :

End Users and OEM’s

 

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 :

900 (Approximately)

 

 

Bankers :

Banker Name

UCO Bank

Branch Address

2/5, 3/5, Girnar Tower, New Palasia Branch, Indore-452003, Madhya Pradesh, 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

·         Punjab National Bank, Sitlamata Bazar Main Road, Cloth Market, Sitlamata, Maharaja Tukoji Rao Holker Cloth Market, Indore-452002, Madhya Pradesh, India

 

 

 

Facilities :

(Rs. In Million)

SECURED LOANS

31.03.2015

31.03.2014

LONG TERM BORROWINGS

 

Term Loan

 

 

From Banks

 

701.426

Less : Current maturity of long term debts

 

(189.809)

Buyers Credit

 

0.000

Other Loan

 

5.223

Less : Current Maturity of Long Term Debts

 

(2.566)

 

 

 

SHORT TERM BORROWINGS

 

 

Working Capital Loans

 

 

From Banks

 

903.141

Buyers Credit

 

530.306

Total

NA

1947.721

 

AS ON: 31.03.2014

 

NOTE:

 

LONG TERM BORROWINGS:

 

Buyers Credit from Banks are secured against Ist Charge on the Land and Building and hypothecation of Plant and Machinery and other Movable Assets of the Drip Irrigation Project of the Company (Both Existing and Future) at Pithampur by way of equitable mortgage.

 

 

SHORT TERM BORROWINGS:

 

a. (i) Working Capital Loans from Banks amounting to Rs. 802.818 Million (Pre. Year Rs. 737.335 Million) are secured against hypothecation of stock of raw materials, work in process, finished goods, other current assets and charge on book debts, second pari passu charge on the Fixed Assets (both present and future) of the company, extension of equitable mortgage of the immovable properties situated at Industrial Area Pithampur and Kelodhala, Dewas Naka, Indore and personal guarantee of Mr. Mukesh Sangla and Mr. Saurabh Sangla, Directors of the company and Mrs. Monika Sangla and Corporate Guarantee of M/s Kamdeep Marketing Private Limited.

 

(ii) Working Capital Loan includes Demand Loans availed during the year, the said loans outstanding as at 31st March 2014, was Rs. 100.323 Million (Previous Year Rs 34.742 Million), is secured by lien on Fixed Deposits (included under banks balances with banks in deposit accounts in note 16) for Rs. 111.5000 Million (Previous Year Rs. 35.300 Million).

 

b. During the year Company has availed buyer’s credit, the said facility outstanding as at 31st March 2014 includes Rs. 249.716 Million (Previous Year Rs. 438.817 Millions), secured by lien on Fixed Deposits (included in balances with banks in deposit accounts) and balance Rs. 280.590 Million (Previous Year Rs. 409.794 Million) by earmarking the letter of credit facilities sanctioned by the banks.

 

c. Secured Short Term Borrowings aggregating to Rs. 802.818 Million (Previous Year Rs. 737.335 Million) are secured by Personal Guarantee of Directors Mukesh Sangla and Saurabh Sangla and Mrs. Monika Sangla and corporate guarantee of  Kamdeep Marketing Private Limited.

 

Financial Institutions:

Siemens Financial Services Private Limited, 130, Pandurang Budhkar Marg, Worli, Mumbai-400018, Maharashtra, India

 

 

Auditors :

 

Name :

Ashok Khasgiwala and Company

Chartered Accountants

Address :

317, Centre Area, RNT Marg, Indore – 452001, Madhya Pradesh, India

Tel. No.:

91-731-2517341 / 4069301

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

 

Associates/Subsidiaries :

Androit Industries (India) Limited

 

 

CAPITAL STRUCTURE

 

 

AS ON: 31.03.2015

 

Authorised Capital: Not Available

 

Issued, Subscribed & Paid-up Capital: Rs. 395.870 Million

 

 

AS ON: 31.03.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

30000000

Equity Shares

Rs.10/- each

Rs. 300.000 Million

5000000

5% Non-Cumulative Redeemable Preferences Shares

Rs.10/- each

Rs. 50.000 Million

 

TOTAL

 

Rs. 350.000 Million

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

29187000

Equity Shares

Rs.10/- each

Rs. 291.870 Million

5000000

5% Non-Cumulative Redeemable Preferences Shares

Rs.10/- each

Rs. 50.000 Million

 

TOTAL

 

Rs. 341.870 Million

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2015

31.03.2014

31.03.2013

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

395.870

341.870

341.870

(b) Reserves & Surplus

580.905

248.315

135.715

(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)

976.775

590.185

477.585

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

595.075

986.438

919.099

(b) Deferred tax liabilities (Net)

124.592

115.706

104.519

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

4.660

2.438

1.840

Total Non-current Liabilities (3)

724.327

1104.582

1025.458

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1035.375

1438.447

1622.241

(b) Trade payables

1822.967

1523.807

1172.621

(c) Other current liabilities

418.257

322.491

251.682

(d) Short-term provisions

20.889

83.524

19.443

Total Current Liabilities (4)

3297.488

3368.269

3065.987

 

 

 

 

TOTAL

4998.590

5063.036

4569.030

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

813.687

817.376

779.244

(ii) Intangible Assets

0.147

0.000

0.000

(iii) Capital work-in-progress

0.045

1.034

0.000

(iv) Intangible assets under development

0.000

0.000

0.000

(b) Non-current Investments

0.651

0.809

76.946

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

53.689

101.736

81.212

(e) Other Non-current assets

15.531

22.054

0.000

Total Non-Current Assets

883.750

943.009

937.402

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.000

0.000

0.000

(b) Inventories

1168.529

876.728

729.142

(c) Trade receivables

2275.251

2412.264

2031.064

(d) Cash and cash equivalents

398.244

642.996

678.153

(e) Short-term loans and advances

244.900

161.500

172.336

(f) Other current assets

27.916

26.539

20.933

Total Current Assets

4114.840

4120.027

3631.628

 

 

 

 

TOTAL

4998.590

5063.036

4569.030

 

 

PROFIT & LOSS ACCOUNT

 

 

 

PARTICULARS

31.03.2015

31.03.2014

31.03.2013

 

SALES

 

 

 

 

Income from operations

6562.664

6124.664

5649.745

 

Other Income

1.362

40.712

24.508

 

TOTAL (A)

6564.026

6165.376

5674.253

 

 

 

 

 

Less:

EXPENSES

 

 

 

 

Cost of Materials Consumed

1853.905

1574.471

1520.558

 

Purchases of Stock-in-Trade

3826.071

3456.528

3234.383

 

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

(247.508)

16.724

22.196

 

Employees benefits expense

123.015

96.608

76.489

 

Exceptional Items

(9.243)

0.000

0.000

 

Other expenses

438.003

341.397

274.366

 

TOTAL (B)

5984.243

5485.728

5127.992

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)    (C)

579.783

679.648

546.261

 

 

 

 

 

Less:

FINANCIAL EXPENSES (D)

357.962

403.090

309.945

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

221.821

276.558

236.316

 

 

 

 

 

Less:

DEPRECIATION/ AMORTISATION (F)

64.506

64.370

60.593

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX (E-F)                (G)

157.315

212.188

175.723

 

 

 

 

 

Less:

TAX (H)

40.278

55.687

56.374

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX  (G-H)                 (I)

117.037

156.501

119.349

 

 

 

 

 

Add:

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD  (J)

 

119.106

44.849

 

 

 

 

 

Less:

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

 

3.913

2.984

 

Proposed Dividend Preferences Shares

 

2.500

1.199

 

Proposed Dividend Equity Shares

 

35.024

0.000

 

Interim Dividend Equity Shares

 

0.000

35.024

 

Tax on Dividend

 

6.377

5.885

 

Total (K)

 

47.814

45.092

 

 

 

 

 

 

Balance Carried to the B/S (I+J+K)                   (L)

NA

227.793

119.106

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

F.O.B. Value of Exports

 NA

4.301

2.325

 

TOTAL EARNINGS

NA

4.301

2.325

 

 

 

 

 

 

IMPORTS

 

 

 

 

Raw Materials

 

953.701

1329.186

 

Store and Spare Parts

 

0.431

1.277

 

Capital Goods

 

24.963

12.603

 

TOTAL IMPORTS

NA

979.095

1343.066

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

4.01

5.26

4.04

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2015

31.03.2014

31.03.2013

Current Maturities of Long term debt

NA

192.374

121.150

Cash generated from operations

NA

NA

NA

Cash flow from operations

NA

418.521

339.149

Net cash from operating activities

NA

385.319

320.772

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2015

31.03.2014

31.03.2013

Net Profit Margin

(PAT / Sales)

(%)

1.78

2.56

2.11

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

8.83

11.10

9.67

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.15

4.19

3.91

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.16

0.36

0.37

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

1.67

4.11

5.32

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.25

1.22

1.18

 

 

STOCK PRICES

 

Face Value

Rs. 1.00/-

Market Value

Rs. 33.55/-

 

 

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

341.870

341.870

395.870

Reserves & Surplus

135.715

248.315

580.905

Net worth

477.585

590.185

976.775

 

 

 

 

long-term borrowings

919.099

986.438

595.075

Short term borrowings

1622.241

1438.447

1035.375

Total borrowings

2541.340

2424.885

1630.450

Debt/Equity ratio

5.321

4.109

1.669

 

 

 

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)

Income from operations

5649.745

6124.664

6562.664

 

 

8.406

7.151

 

 

NET PROFIT MARGIN

 

Net Profit Margin

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Income from operations

5649.745

6124.664

6562.664

Profit

119.349

156.501

117.037

 

2.11%

2.56%

1.78%

 

 

 

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

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:

 

PARTICULAR

31.03.2015

(Rs. In Million)

31.03.2014

(Rs. In Million)

LONG TERM BORROWINGS

 

Intercorporate Loans

 

472.164

 

 

 

SHORT TERM BORROWINGS

 

 

Intercorporate Loans

 

5.000

Total

NA

477.164

 

 

INDEX OF CHARGES:

 

S. No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10587730

25/07/2015

200,000,000.00

Punjab National Bank

SITLAMATA BAZAR MAIN ROAD, CLOTH MARKET, SITLAMATA, 
MAHARAJA TUKOJI RAO HOLKER CLOTH MARKET, INDORE, 
MADHYA PRADESH-452002, INDIA

C62459151

2

10561010

13/03/2015

26,000,000.00

SIEMENS FINANCIAL SERVICES PRIVATE LIMITED

130, PANDURANG BUDHKAR MARG, WORLI, MUMBAI, MAHARASHTRA -400018, INDIA

C49910466

3

10494215

12/09/2013

4,100,000.00

INDIAN OVERSEAS BANK

MID CORPORATE BRANCH, SCHEME 54 SHRI SATYA SAI VIDHYA VIHAR COMPOUND, INDORE, MADHYA PRADESH - 452010, INDIA

C04150967

4

10429090

06/02/2014 *

110,000,000.00

EXPORT-IMPORT BANK OF INDIA

CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA

B96031596

5

10249654

23/09/2010

650,000,000.00

UCO Bank

2/5, 3/5, GIRNAR TOWER, NEW PALASIA BRANCH, INDORE, MADHYA PRADESH - 452003, INDIA

A97942387

6

10249650

28/08/2015 *

2,950,000,000.00

UCO Bank

2/5, 3/5, GIRNAR TOWER, NEW PALASIA BRANCH, INDORE, MADHYA PRADESH - 452001, INDIA

C62968409

7

10225832

03/06/2010

1,155,000,000.00

UCO BANK

NEW PALASIA, 2/5, 3/5, GIRNAR TOWER, INDORE, MADHYA PRADESH - 452001, INDIA

A88279336

8

10225833

03/06/2010

400,000,000.00

UCO BANK

NEW PALASIA, 2/5, 3/5, GIRNAR TOWER, INDORE, MADHYA PRADESH - 452001, INDIA

A88279708

9

10194509

26/12/2009

100,000,000.00

UCO BANK

NEW PALASIA BRANCH, 2/5, 3/5, GIRNAR TOWER, INDORE, MADHYA PRADESH - 452001, INDIA

A76372499

10

10093164

31/12/2009 *

1,075,000,000.00

UCO BANK

NEW PALASIA, 3/5, GIRNAR TOWER, INDORE, MADHYA PRADESH - 452001, INDIA

A76837244

 

 

CONTINGENT LIABILITIES:

 

(Rs. in million)

PARTICULARS

31.03.2015

31.03.2014

Outstanding Bank Guarantee

NA

92.736

Income Tax/ Sales Tax/ Excise Duty Demand disputed in appeal (Net of Amount paid)

NA

331.856

Corporate guarantee given on behalf of others

NA

100.000

 

 

UNAUDITED FINANCIAL RESULTS FOR THE    QUARTER ENDED 30TH JUNE 2015

 

(Rs. In Million)

Particulars

 

 

Quarter Ended

( Unaudited)

 

 

 

30.06.2015

 

 

 

 

1. Income from operations

 

 

 

a) Net sales/ Income from operation (net of excise duty)

 

 

2012.497

b) Other operating income

 

 

5.350

Total income from Operations(net)

 

 

2017.847

2.Expenses

 

 

 

a) Cost of material consumed

 

 

492.910

b) Purchases of stock in trade

 

 

1122.754

c) Changes in inventories of finished goods, work-in-progress and stock-in-trade

 

 

72.504

d) Employees benefit expenses

 

 

32.333

e) Depreciation and amortization expenses

 

 

16.551

f) Other expenses

 

 

115.238

Total expenses

 

 

1852.290

3. Profit from operations before other income, finance costs and Exceptional Items

 

 

165.557

4. Other income /(Loss)

 

 

6.785

5. Profit/(loss) from ordinary activities before finance costs and exceptional items

 

 

172.342

6. Finance costs

 

 

96.546

7. Profit/(loss) from ordinary activities after finance costs but before exceptional items

 

 

75.796

8. Exceptional item

 

 

--

9. Profit / (Loss)  from ordinary activities before tax Expense:

 

 

75.796

10.Tax expenses

 

 

17.505

11. Excess/Short Provision for earlier years

 

 

--

12. Net Profit / (Loss) from ordinary activities after tax

 

 

58.291

13.Extraordinary Items (net of tax expense)

 

 

--

14.Net Profit / (Loss) for the period

 

 

58.291

15.Paid-up equity share capital (Face value Rs.10/- per share)

 

 

291.870

16. Reserve excluding Revaluation Reserves (As per balance sheet of previous accounting year)

 

 

--

17. Basic and Diluted EPS (Not annualized)

 

 

2.00

 

Particulars

 

 

Quarter Ended

( Unaudited)

 

 

 

30.06.2015

A. Particulars of shareholding

 

 

 

1. Public Shareholding

 

 

 

- Number of shares

 

 

7776000

- Percentage of shareholding

 

 

26.64

2. Promoters and Promoters group Shareholding-

 

 

 

a) Pledged /Encumbered

 

 

 

Number of shares

 

 

--

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

 

 

--

Percentage of shares (as a % of total share capital of the company)

 

 

--

 

 

 

 

b) Non  Encumbered

 

 

 

Number of shares

 

 

21411000

Percentage of shares (as a % of total shareholding of the promoter and promoter group)

 

 

100.00

Percentage of shares (as a % of total share capital of the company)

 

 

73.36

 

 

 

 

B. Investor Complaints

 

 

 

Pending at the beginning of the quarter

 

 

--

Receiving during the quarter

 

 

--

Disposed of during the quarter

 

 

--

Remaining unreserved at the end of the quarter

 

 

--

 

 

UNAUDITED SEGMENT WISE REVENUE, RESULTS AND CAPITAL EMPLOYED

 

     (Rs. In Million)

Particulars

 

 

3 Months Ended

( Unaudited)

 

 

 

30.06.2015

1. Segment Revenue

 

 

 

a. Manufacturing

 

 

864.561

b. Windmill

 

 

3.551

c. Trading

 

 

1149.738

d. Unallocable

 

 

6.782

Total

 

 

2024.632

 

 

 

 

2. Segment Result

(Profit before Interest and Tax)

 

 

 

a. Manufacturing

 

 

149.897

b. Windmill

 

 

1.897

c. Trading

 

 

18.185

d. Unallocable

 

 

2.363

Total

 

 

172.342

 

 

 

 

Less : (i) Interest

 

 

96.546

(ii) un-allocable expenditure

 

 

--

Profit before Tax / Exceptional Items

 

 

75.796

Less: Exceptional Items

 

 

--

Total Profit Before Tax

 

 

75.796

 

 

 

 

3. Capital Employed

(assets and liabilities)

 

 

 

a. Manufacturing

 

 

2175.948

b. Windmill

 

 

79.666

c. Trading

 

 

710.431

d. Unallocable

 

 

(1900.979)

Total

 

 

1065.066

 

 

FIXED ASSETS: (As On: 31.03.2014)

 

·         Land – Freehold

Land – Leasehold

Building

Plant and Machinery

Windmill

Furniture and Fixtures

Office Equipment

Vehicle

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. 66.74

UK Pound

1

 Rs. 101.36

Euro

1

Rs. 74.27

 

 

INFORMATION DETAILS

 

Information Gathered by :

SUP

 

 

Analysis Done by :

KRN

 

 

Report Prepared by :

THR

 

 

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

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--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

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

45

 

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

 

--

 

 

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.