MIRA INFORM REPORT

 

 

Report No. :

340461

Report Date :

09.09.2015

 

IDENTIFICATION DETAILS

 

Name :

MERINO INDUSTRIES LIMITED

 

 

Formerly Known As :

CENTURY LAMINATING COMPANY LIMITED

 

H. N. LOHIA (AGENCIES) PRIVATE LIMITED

 

 

Registered Office :

5, Alexandra Court, 60/1, Chowringhee Road, Kolkata – 700020, West Bengal

Tel. No.:

91-33-22901214

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

29.07.1965

 

 

Com. Reg. No.:

21-026556

 

 

Capital Investment / Paid-up Capital :

Rs.104.703 Million

 

 

CIN No.:

[Company Identification No.]

U51909WB1965PLC026556

 

 

IEC No.:

0288000226

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AAACC9186C

 

 

Legal Form :

A Closely Held Public Limited Liability Company

 

 

Line of Business :

The Company has identified three reportable business segments:-

i) Laminates: Comprises manufacturing and selling of Decorative Laminates, Chemicals (primarily meant for captive consumption), Adhesive and trading of Papers and Chemicals.

ii) Panel Products and Furniture: Comprises manufacturing and selling of Furniture, Panel Boards, Plywood and related products.

iii) Potato Flakes: Potato Flakes' comprises manufacturing and sale of Potato Flakes and Ready Mix.

 

 

No. of Employees :

Information declined by the Management.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (53)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 4000000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is an old established company incorporated during the year 1965 having a good track record.

 

Available financial indicated company sound net worth position with low borrowings recorded and favourable gap between trade payables and trade receivables.

 

Further, the rating also takes into consideration good profitability margin of the company.

 

Trade relations are reported as fair. Business is active. Payment terms are reported to be regular and as per commitment.

 

In view of long standing record and acceptable financial base, the company can be considered normal 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

 

NOT AVAILABLE

 

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-cooperative (91-11-45557000)

 

LOCATIONS

 

Registered Office :

5, Alexandra Court, 60/1, Chowringhee Road, Kolkata – 700 020, West Bengal, India

Tel. No.:

91-33-22901214

Fax No.:

91-33-22870314

E-Mail :

merinokol@merinoindia.com

Website :

http://www.merinoindia.com

 

 

Factory 1:

Village Achheja, Post Hapur, District Ghaziabad, Hapur – 245 101, Uttar Pradesh, India

Tel. No.:

91-122-2308601/ 3290749/ 3290338

Fax No.:

91-122-2306998

E-Mail :

merinohapur@merinoindia.com

 

 

Factory 2:

44 Km Stone, Delhi - Rohtak Road, Rohad, District Jhajjar – 124 501, Haryana, India

Tel. No.:

91-1276-276335/ 276337/ 276338/ 276339

Fax No.:

91-1276- 276336

Email :

merino@nde.vsnl.net.in

 

 

Factory 3 :

Bagalur Road, Kalahasthipuram Village, Hosur Taluk, District Krishnagiri – 635 103 Tamilnadu, India

Tel No.:

91-4344-293545 / 327765

Fax No.:

91-4344-245307

 

 

Marketing Office :

70, KLJ Complex, 2nd Floor, Moti Nagar, New Delhi – 110 015, India

Tel. No.:

91-11-45557000 / 25107617

Fax No.:

91-11-45557000

 

 

Branch Office :

Located at:

  • Ahmedabad
  • Bangalore 
  • Bhubaneswar
  • Chennai
  • Coimbatore
  • New Delhi
  • Hyderabad
  • Jaipur
  • Kochi
  • Mumbai
  • Nagpur
  • Pune

 

 

Overseas Office :

9600nw, 25th Street, Doral, FI-33172, USA

Tel. No.:

305-456-1913

 

DIRECTORS

 

As on 31.07.2014

 

Name :

Mr. Champa Lal Lohia

Designation :

Whole Time Director

Address :

44/78, Punjabi Bagh, New Delhi – 110 026, India

Date of Birth/Age :

09.03.1934

Qualification :

B. Com.

Date of Appointment :

01.04.2012

Voter ID No.:

DL/03/016/042803

DIN No.:

00154019

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

01-04-2012

15-01-1968

-

Active

NO

2

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LTD

Director

08-08-1994

08-08-1994

-

Active

NO

 

 

Name :

Mr. Prakash Lohia

Designation :

Managing Director

Address :

Vrindaban Apartments, Flat No.4B, 4th Floor, 55/1, Kabi Bharati Sarani, Kolkata – 700 029, West Bengal, India

Date of Birth/Age :

10.07.1952

Qualification :

B. Tech. (Chem.), M.E.P. (I.I.M. Ahmedabad)

Date of Appointment :

01.03.2014

PAN No.:

ABCPL3771E

DIN No.:

00063274

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Managing director

01-03-2014

14-07-1976

-

Active

NO

2

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LIMITED

Director

08-08-1994

08-08-1994

-

Active

NO

3

U51109WB1993PLC058257

MERINO SERVICES LIMITED

Director

27-09-2007

15-02-2007

-

Active

NO

 

 

Name :

Mr. Nripen Kumar Dugar

Designation :

Whole Time Director

Address :

Kasturai Bai Cold Storage Compound, Bulland Shahar Road, Hapur – 245 101, Uttar Pradesh, India

Date of Birth/Age :

23.01.1962

Qualification :

B. Com

Date of Appointment :

31.07.2014

PAN No.:

AAMPD6538L

DIN No.:

00127790

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

31-07-2014

08-10-1986

-

Active

NO

 

 

Name :

Dr. Gautam Bhattacharjee

Designation :

Director

Address :

Panchajanya, 4th Floor, 25/59, Prince Gulam MD Shah Road, Kolkata – 700 095, West Bengal, India

Date of Birth/Age :

16.09.1953

Experience :

D.M.R.T, M.D (CAL), F.IS.C.C (Oxford)

Date of Appointment :

31.07.2014

PAN No.:

AGVPB7546F

DIN No.:

00109269

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Director

31-07-2014

01-08-1997

-

Active

NO

2

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LIMITED

Director

31-07-2014

01-05-2014

-

Active

NO

 

 

Name :

Mr. Amar Nath Roy

Designation :

Director

Address :

10, Central Road, Jadavpur, Kolkata – 700 032, West Bengal, India

Date of Birth/Age :

16.12.1927

Qualification :

B.A, LLB

Date of Appointment :

31.07.2014

Voter ID No.:

WB/23/151/366048

DIN No.:

00109280

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Director

31-07-2014

03-05-1999

-

Active

NO

2

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LIMITED

Director

31-07-2014

01-05-2014

-

Active

NO

 

Name :

Ms. Ruchira Lohia

Designation :

Whole Time Director

Address :

Kasturi Bai Cold Storage Compound, Bulland Sahar Road, Hapur, Ghaziabad -245 101, Uttar Pradesh, India

Date of Birth/Age :

14.07.1968

Qualification :

B.A and M.E. P (IIM-Ahmedabad)

Date of Appointment :

01.04.2014

PAN No.:

ABCPL3766F

DIN No.:

00127797

Other Directorship:

S.  No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70101WB1988PTC044285

MERINO EXPORTS PRIVATE LIMITED

Director

08-04-1994

08-04-1994

-

Active

NO

2

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

01-04-2014

01-04-2000

-

Active

NO

3

U51109WB1993PLC058257

MERINO SERVICES LIMITED

Director

27-09-2007

15-02-2007

-

Active

NO

4

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LIMITED

Director

31-07-2014

01-05-2014

-

Active

NO

 

Name :

Mr. Rup chand Lohia

Designation :

Whole-time director

Address :

Flat No.40-D, 4th Floor, 3, Mayfair Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

16.01.1940

Qualification :

B.M.E. (Mech.)

Date of Appointment :

01.01.2013

PAN No.:

ABLPL0395H

DIN No.:

00063290

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LIMITED

Director

08-08-1994

08-08-1994

-

Active

NO

2

U70101WB1988PTC044285

MERINO EXPORTS PRIVATE LIMITED

Director

01-04-1996

01-04-1996

-

Active

NO

3

U25200MH1955NPL009601

THE PLASTICS EXPORT PROMOTION COUNCIL

Director

18-10-1996

18-10-1996

-

Active

NO

4

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

01-01-2013

01-01-2002

-

Active

NO

Name :

Mr. Prasan Lohia

Designation :

Whole-time director

Address :

Flat No.4D, 4th Floor, 3, Mayfair Road, Kolkata – 700 019, West Bengal, India

Date of Birth/Age :

12.10.1968

Qualification :

AB (ECON) USA ,BS (ELECT ENGG) USAMBA (USA)

Date of Appointment :

01.10.2013

PAN No.:

ABHPL7447C

DIN No.:

00061111

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U70101WB1988PTC044285

MERINO EXPORTS PRIVATE LIMITED

Director

04-04-1994

04-04-1994

-

Active

NO

2

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

01-10-2013

01-10-2004

-

Active

NO

3

U51109WB1993PLC058257

MERINO SERVICES LIMITED

Director

27-09-2007

15-02-2007

-

Active

NO

Name :

Mr. Bikash Lohia

Designation :

Whole Time Director

Address :

44/78, Punjabi Bagh, New Delhi – 110 028, India

Date of Birth/Age :

27.05.1970

Date of Appointment :

01.10.2012

PAN No.:

ABCPL3767E

DIN No.:

00154013

Other Directorship:

S.  No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U20299WB1994PLC064386

MERINO PANEL PRODUCTS LIMITED

Director

01-10-2006

01-12-1994

27-11-2012

Active

NO

2

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

01-10-2012

01-10-2006

-

Active

NO

3

U51109WB1993PLC058257

MERINO SERVICES LIMITED

Director

27-09-2007

15-02-2007

-

Active

NO

Name :

Mr. Madhusudan Lohia

Designation :

Whole Time Director

Address :

Vrindaban Apartments, Flat No.48, 4th Floor, 55/1, Kabi Bharati Sarani, Kolkata – 700 029, West Bengal, India

Date of Birth/Age :

05.01.1980

Qualification :

Graduate in Business Process Management (Operations and International Business)-Indian University, USA

Date of Appointment :

01.10.2012

PAN No.:

ABCPL3772H

DIN No.:

00063278

Other Directorship:

S. No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U63022WB1993PTC058429

KASTURI BAI COLD STORAGE PVT LTD

Director

01-10-2006

01-06-2005

-

Amalgamated

NO

2

U51909WB1965PLC026556

MERINO INDUSTRIES LIMITED

Whole-time director

01-10-2012

01-10-2006

-

Active

NO

 

 

MAJOR SHAREHOLDERS

 

As on 31.07.2014

 

SHAREHOLDING DETAILS FILE ATTACHED

 

Equity Share Break up (Percentage of Total Equity)

 

As on 31.07.2014

 

Category

Percentage

Bodies corporate

32.82

Directors or relatives of Directors

61.20

Other top fifty shareholders

1.93

Other

4.05

Total

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

The Company has identified three reportable business segments:-

i) Laminates: Comprises manufacturing and selling of Decorative Laminates, Chemicals (primarily meant for captive consumption), Adhesive and trading of Papers and Chemicals.

ii) Panel Products and Furniture: Comprises manufacturing and selling of Furniture, Panel Boards, Plywood and related products.

iii) Potato Flakes: Potato Flakes' comprises manufacturing and sale of Potato Flakes and Ready Mix.

 

 

Products :

Product Description

Item Code No. (ITC Code)

Decorative Laminates

48239019

 

 

Brand Names :

Not Available

 

 

Agencies Held :

Not Available

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

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 :

Banker Name

Axis Bank Limited

Branch Address

Corporate Banking Branch (CBB), 1, Shakespeare Sarani, AC Market, 3rd  Floor, Kolkata – 700071, 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

 

  • Axis Bank Limited, Trishul 3rd Floor Opposite  Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad – 380006, Gujarat, India
  • DBS Bank Limited, 4A, Little Russel Street, Nanda Lal Basu Sarani, Kolkata – 700071, West Bengal, India

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Term loans from banks

236.692

145.997

Term loans from others

37.417

84.917

Working capital loans from banks

0.000

134.980

Short-term borrowings

 

 

Term loans from banks

516.137

638.246

Total

790.246

1004.140

 

Auditors :

 

Name :

Singhi and Company

Chartered Accountants

Address :

1B, Old Post office Street, Gujarat, India

PAN N Income-tax PAN of auditor or auditor's firm :

AASFS9578D

 

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Subsidiary Company :

Merino Panel Products Limited, India

(CIN No.: U20299WB1994PLC064386)

Enterprises which are owned, or have significant influence of or are partners with Key Management personnel and their relatives :

 
  • Merino Exports Private Limited
  • Kasturi Bai Cold Storage Private Limited
  • Merino Services Limited
  • Gopi Cold Storage Private Limited
  • Sri Harakasturi Memorial Trust
  • Man Kumar Lohia and Brothers
  • Usha Agro Farm Private Limited
  • Kasturi Bai Gopi Babu Cold Storage Private Limited
  • Kay Marketing Services Limited
  • Anupriya Marketing Limited

 

 

CAPITAL STRUCTURE

 

As on 31.03.2013

 

Authorised Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

17000000

Equity Shares

Rs.10/- each

Rs.170.000 Million

 

Issued Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

 10566100

Equity Shares

Rs.10/- each

Rs.105.661 Million

 

Subscribed & Paid-up Capital

No. of Shares

Type

Value

Amount

 

 

 

 

10369600

Equity Shares

Rs.10/- each

Rs.103.696 Million

 

Add: Forfeited Shares

 

Rs. 1.007 Million

 

Total

 

Rs.104.703 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

104.703

104.703

104.703

(b) Reserves & Surplus

1298.345

1095.842

912.195

(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)

1403.048

1200.545

1016.898

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

274.109

230.914

288.122

(b) Deferred tax liabilities (Net)

83.832

74.230

62.850

(c) Other long term liabilities

1.910

1.710

2.122

(d) long-term provisions

 0.000

 0.000

 0.000

Total Non-current Liabilities (3)

359.851

306.854

353.094

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

1060.644

1141.119

1194.467

(b) Trade payables

584.487

456.761

441.672

(c) Other current liabilities

304.563

253.346

197.471

(d) Short-term provisions

50.948

13.735

30.885

Total Current Liabilities (4)

2000.642

1864.961

1864.495

 

 

 

 

TOTAL

3763.541

3372.360

3234.487

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

1288.581

1254.609

1080.056

(ii) Intangible Assets

5.626

7.872

9.238

(iii) Capital work-in-progress

9.470

53.660

134.931

(iv) Intangible assets under development

 0.000

 0.000

 0.000

(b) Non-current Investments

15.282

15.282

15.282

(c) Deferred tax assets (net)

 0.000

 0.000

 0.000

(d)  Long-term Loan and Advances

78.563

57.846

33.043

(e) Other Non-current assets

 0.000

 0.000

 0.000

Total Non-Current Assets

1397.522

1389.269

1272.550

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

 

(b) Inventories

1210.623

1081.744

1022.461

(c) Trade receivables

915.079

731.478

660.923

(d) Cash and cash equivalents

96.150

96.121

201.448

(e) Short-term loans and advances

117.393

72.021

72.725

(f) Other current assets

26.774

1.727

4.380

Total Current Assets

2366.019

1983.091

1961.937

 

 

 

 

TOTAL

3763.541

3372.360

3234.487

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

5589.859

4718.605

4144.499

 

Other Income

49.560

47.409

53.746

 

TOTAL

5639.419

4766.014

4198.245

 

 

 

 

 

Less

EXPENSES

 

 

 

 

Cost of Materials Consumed

3008.492

2492.312

2235.807

 

Purchases of Stock-in-Trade

330.867

190.754

162.674

 

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

(97.073)

(90.128)

25.791

 

Employees benefits expense

528.212

467.637

362.094

 

Other expenses

1222.761

1132.146

967.574

 

TOTAL

4993.259

4192.721

3753.940

 

 

 

 

 

Less

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

646.160

573.293

444.305

 

 

 

 

 

Less

FINANCIAL EXPENSES

147.779

154.746

134.961

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

498.381

418.547

309.344

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

145.824

136.055

109.192

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

352.557

282.492

200.152

 

 

 

 

 

Less

TAX

133.063

82.880

57.318

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

219.494

199.612

142.834

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD 

708.158

544.061

438.342

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

Transfer to General Reserve

21.949

19.961

14.283

 

Dividend

15.554

15.554

20.739

 

Tax on Dividend

1.058

0.000

2.093

 

Total

38.561

35.515

37.115

 

 

 

 

 

 

Balance Carried to the B/S

889.091

708.158

544.061

 

 

 

 

 

 

Earnings / (Loss) Per Share (Rs.)

21.17

19.25

13.77

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

114.372

96.786

49.784

Cash generated from operations

NA

NA

NA

Net cash flows from (used in) operations

407.735

440.057

149.441

 

 

KEY RATIOS

 

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

3.93

4.23

3.45

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

11.56

12.15

10.72

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

9.43

8.55

6.49

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.24

0.20

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

0.95

1.14

1.46

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.18

1.06

1.05

 

 

 

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

104.703

104.703

104.703

Reserves & Surplus

912.195

1095.842

1298.345

Net worth

1016.898

1200.545

1403.048

 

 

 

 

long-term borrowings

288.122

230.914

274.109

Short term borrowings

1194.467

1141.119

1060.644

Current maturities of long-term debts

49.784

96.786

114.372

Total borrowings

1532.373

1468.819

1449.125

Debt/Equity ratio

1.507

1.223

1.033

 

 

 

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

4144.499

4718.605

5589.859

 

 

13.852

18.464

 

 

 

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

4144.499

4718.605

5589.859

Profit

142.834

199.612

219.494

 

3.45%

4.23%

3.93%

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

---------–

6

Contact numbers

Yes

7

Name of the person contacted

No

8

Designation of contact person

No

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

Yes

12

Voter Id Card No. of Proprietor / Partners

Yes

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

No

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)

Short-term borrowings

 

 

Short Term unsecured borrowings

544.507

367.893

Total

544.507

367.893

 

 

INDEX OF CHARGES

 

S.NO.

CHARGE ID

DATE OF CHARGE CREATION/MODIFICATION

CHARGE AMOUNT SECURED

CHARGE HOLDER

ADDRESS

SERVICE REQUEST NUMBER (SRN)

1

10585678

10/08/2015

110,500,000.00

STANDARD CHARTERED BANK

19, NETAJI SUBHAS ROAD, KOLKATA - 700001, WEST BENGAL, INDIA

C61543898

2

10585875

10/08/2015

110,500,000.00

ST HELEN'S NOMINEES INDIA PRIVATE LIMITED

1ST FLOOR,CRESCENZO BUILDING, C-38/39, "G" BLOCK, BANDRA KURLA COMPLEX,BANDRA (EAST), MUMBAI - 400051, MAHARASHTRA, INDIA

C61648531

3

10588188

30/06/2015

1,375,000.00

HDFC BANK LIMITED

HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL WEST, MUMBAI - 400013, MAHARASHTRA, INDIA

C62668439

4

10573597

25/03/2015

50,000,000.00

YES BANK LIMITED

NEHRU CENTRE, 9TH FLOOR, DISCOVERY OF INDIA, DR. 
A.B. ROAD, WORLI, MUMBAI - 400018, MAHARASHTRA, INDIA

C55804728

5

10555650

18/03/2015

200,000,000.00

CITI BANK N.A.

KANAK BUILDING, 41 CHOWRINGHEE ROAD, KOLKATA - 700071, WEST BENGAL, INDIA

C47011259

6

10509159

04/08/2014 *

80,000,000.00

THE HONG KONG AND SHANGHAI BANKING CORPORATION LIMITED

HONGKONG HOUSE, 31 B B D BAGH, KOLKATA - 700001, WEST BENGAL, INDIA

C15675887

7

10503568

20/05/2014

400,000,000.00

ING VYSYA BANK LIMITED

SIKKIM HOUSE, 4/1, MIDDLETON STREET, KOLKATA, WEST BENGAL - 700071, INDIA

C06936371

8

10468419

19/12/2013

260,000,000.00

DBS BANK LIMITED

4A, LITTLE RUSSEL STREET, NANDA LAL BASU SARANI, 
KOLKATA - 700071, WEST BENGAL, INDIA

B92814722

9

10468436

04/07/2014 *

80,000,000.00

DBS BANK LIMITED

4A, NANDALAL BASU SARANI, KOLKATA - 700071, WEST BENGAL, INDIA

C10195931

10

10431422

06/05/2013

529,000.00

AXIS BANK LIMITED

TRISHUL 3RD FLOOR OPPOSITE SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA

B77226348

 

 

FIXED ASSETS

 

Tangible Assets

 

·         Leasehold Land

·         Freehold Land

·         Leasehold Building

·         Freehold Building

·         Plant and Machinery

·         Furniture and Fittings

·         Vehicles

·         Office Equipment

 

Intangible Assets

 

·         Computer Software

 

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.66.60

UK Pound

1

Rs.102.30

Euro

1

Rs.74.60

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

DIV

 

 

Report Prepared by :

PNM

 

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

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

---

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

53

 

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.