|
|
|
MIRA INFORM REPORT
|
Report No. : |
491218 |
|
Report Date : |
12.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
PUDUMJEE INDUSTRIES LIMITED (w. e. f. 2008) |
|
|
|
|
Formerly Known
As : |
PUDUMJEE AGRO INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Thergaon, Chinchwad, Pune – 411033,
Maharashtra |
|
Tel. No.: |
91-20-40773333 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
31.12.1965 |
|
|
|
|
Com. Reg. No.: |
11-013394 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 36.000 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L74999MH1999PLC013394 |
|
|
|
|
IEC No.: |
0388127686 |
|
|
|
|
GSTIN : |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP15791G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0487B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges |
|
|
|
|
Line of Business
: |
Real Estate Developers. (Registered Activity) |
|
|
|
|
No. of Employees
: |
01 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 969000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject was incorporated in the year 1965. As per the financial records of 2017, the company has achieved a
decent growth in its revenue as compared to the previous year but has
reported operational losses. The company possesses healthy financial position marked by adequate
net worth base along with negligible debt level. Business is active. Payment seem to be slow but correct. In view of aforesaid, the
concern can be considered for business dealings at usual trade terms and
conditions. Note: Pursuant to the scheme of Arrangement and reconstruction
(Demerger), the company’s paper manufacturing business has been demerged and
henceforth the company would continue the business of Realty/ Real Estate. |
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Loans BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
07.10.2016 |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 12.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
LOCATIONS
|
Registered Office : |
Thergaon, Chinchwad, Pune - 411033,
Maharashtra, India |
|
Tel. No.: |
91-20-30613333 / 27275381 |
|
Mobile No.: |
Not Available |
|
Fax No.: |
91-20-27273294 / 30613388 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate/ Sales Office : |
Jatia Chambers, 60, Dr. V.B. Gandhi Marg, Fort, Mumbai –
400023, |
|
Tel. No.: |
91-22-22674485
/ 4529 / 30213333 |
|
Fax No.: |
91-22-22658316 |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Arvindkumar Surendrakumar Somany |
|
Designation : |
Director |
|
Address : |
Somany House, Survey No.36, P.O. Kasturba Vidyalay, Near Koba Circle, Gandhinagar - 382007 Gujarat, India |
|
Date of Appointment : |
31.12.1990 |
|
DIN No.: |
00024903 |
|
|
|
|
Name : |
Mr. Gautam Nandkishore Jajodia |
|
Designation : |
Chairman and Executive Director |
|
Address : |
401, Ashok House, Rajendra Prasad Jain Road, Off Gandhigram Road, Juhu, Mumbai - 400049, Maharashtra, India |
|
Date of Appointment : |
07.06.2001 |
|
DIN No.: |
00064611 |
|
|
|
|
Name : |
Mr. Rajendra Chiranjilal Saraf |
|
Designation : |
Director |
|
Address : |
D-74, Tahnee Heights, Petit Hall 66, Nepean Sea Road, Mumbai – 400006, Maharashtra, India |
|
Date of Appointment : |
31.12.1990 |
|
DIN No.: |
00161412 |
|
|
|
|
Name : |
Ms. Vasudha Jatia |
|
Designation : |
Director |
|
Address : |
60, Jatia Chambers, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra, India |
|
Date of Appointment : |
17.01.2015 |
|
DIN No.: |
06725426 |
|
|
|
|
Name : |
Mr. Atul Shantikumar Dayal |
|
Designation : |
Director |
|
Address : |
21, Valentina Naoroji Gamadia Road, Mumbai – 400025, Maharashtra, India |
|
|
|
|
Name : |
Mr. Bhavani Singh Sumer Singh Shekhawat |
|
Designation : |
Additional Director |
|
Address : |
Prathamesh Apartment, Flat No 1a, Plot No. 54, Guruvihar, Front of Panjar Powl, Bhosari , Pune – 411039, Maharashtra, India |
|
Date of Appointment : |
14.11.2017 |
|
DIN No : |
07987110 |
KEY EXECUTIVES
|
Name : |
Mr. Jagadish Waman Patil |
|
Designation : |
Company Secretory |
|
Address : |
Gokul, Ramnagar Rahatni, Pune – 411017, Maharashtra, India |
|
Date of Appointment : |
23.05.1994 |
|
PAN No.: |
AAOPP3660P |
MAJOR SHAREHOLDERS
As on 31.12.2017
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957) |
|
|
Promoter & Promoter Group |
13009342 |
72.27 |
|
|
Public |
4990658 |
27.73 |
|
|
Grand Total |
18000000 |
100.00 |
STATEMENT SHOWING SHAREHOLDING PATTERN OF THE PROMOTER AND
PROMOTER GROUP
|
Category of
shareholder |
Total nos. shares
held |
Shareholding as a %
of total no. of shares (calculated as per SCRR, 1957) |
|
|
A1) Indian |
0.00 |
||
|
Individuals/Hindu undivided Family |
929100 |
5.16 |
|
|
Arun Kumar Mahabir Prasad Jatia |
929000 |
5.16 |
|
|
Yashvardhan Jatia |
100 |
0.00 |
|
|
Any Other (specify) |
11780242 |
65.45 |
|
|
Chem Mach Private Limited |
61450 |
0.34 |
|
|
Suma Commercial Private Limited |
1848525 |
10.27 |
|
|
AMJ Land Holdings Limited (Formerly Known as Pudumjee Pulp & Paper Mills Limited) |
956725 |
5.32 |
|
|
Pudumjee Investment and Finance Company Limited |
3945790 |
21.92 |
|
|
Thacker and Company Limited |
2520210 |
14.00 |
|
|
Fujisan Technologies Limited |
875680 |
4.86 |
|
|
Yashvardhan Jatia Trust-Arun Kumar Mahabir Prasad Jatia and Gautam Jajodia, Trustees of the Trust |
1571862 |
8.73 |
|
|
Sub Total A1 |
12709342 |
70.61 |
|
|
A2) Foreign |
0.00 |
||
|
Individuals (NonResident Individuals/ Foreign Individuals) |
300000 |
1.67 |
|
|
Vasudha Jatia |
150000 |
0.83 |
|
|
Vrinda Jatia |
150000 |
0.83 |
|
|
Sub Total A2 |
300000 |
1.67 |
|
|
A=A1+A2 |
13009342 |
72.27 |
STATEMENT
SHOWING SHAREHOLDING PATTERN OF THE PUBLIC SHAREHOLDER
|
Category & Name
of the Shareholders |
Total no. shares
held |
Shareholding %
calculated as per SCRR, 1957 |
|
|
B1) Institutions |
0.00 |
||
|
Financial Institutions/ Banks |
500 |
0.00 |
|
|
Sub Total B1 |
500 |
0.00 |
|
|
B2) Central Government/ State Government(s)/ President of India |
0.00 |
||
|
B3) Non-Institutions |
0.00 |
||
|
Individual share capital upto INR 0.200 Million |
3012877 |
16.74 |
|
|
Individual share capital in excess of INR 0.200 Million |
809679 |
4.50 |
|
|
Gayatri Gaggar |
673388 |
3.74 |
|
|
Any Other (specify) |
1167602 |
6.49 |
|
|
Bodies Corporate |
508853 |
2.83 |
|
|
NRI |
13347 |
0.07 |
|
|
NRI – Repat |
27350 |
0.15 |
|
|
HUF |
292004 |
1.62 |
|
|
Clearing Members |
1819 |
0.01 |
|
|
Unclaimed or Suspense or Escrow Account |
8500 |
0.05 |
|
|
Investor Education and Protection Fund Authority Ministry of Corporate Affairs |
315729 |
1.75 |
|
|
Sub Total B3 |
4990158 |
27.72 |
|
|
B=B1+B2+B3 |
4990658 |
27.73 |
BUSINESS DETAILS
|
Line of Business : |
Real Estate Developers. (Registered Activity) |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Available |
||||
|
|
|
||||
|
Imports : |
Not Available |
||||
|
|
|
||||
|
Terms : |
Not Available |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
01 (Approximately) |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Solicitors : |
Kanga and Company |
|
Auditors : |
|
|
Name : |
Khare and Company Chartered Accountants |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Wholly Subsidiary Companies: |
|
|
|
|
|
Associate Firms/ Companies: |
|
CAPITAL STRUCTURE
As on 31.03.2017
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
125000000 |
Equity Shares |
INR 2/- each |
INR 250.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
18000000 |
Equity Shares |
INR 2/- each |
INR 36.000 Million |
|
|
|
|
|
The reconciliation of the number of Equity shares outstanding
|
Particulars |
31.03.2017 |
|
No. of Shares |
|
|
Equity Shares at the beginning and end of the year |
18000000 |
|
|
|
The details of Shareholders holding more than 5% shares
|
Particulars |
31.03.2017 |
|
|
Name of the
Shareholder |
No. of Shares |
% held |
|
Pudumjee Investment and Finance Company Limited |
3945790 |
21.92 |
|
Thacker and Company Limited |
2520210 |
14.00 |
|
Sanjay M. Jatia |
999995 |
5.55 |
|
Arunkumar M. Jatia |
929000 |
5.16 |
|
Suma Commercial Private Limited |
1848525 |
10.27 |
|
Pudumjee Pulp and Paper Mills Limited |
956725 |
5.32 |
|
Yashowardhan Jatia Trust |
1571862 |
8.73 |
FINANCIAL DATA
[all figures are
INR Million]
ABRIDGED
BALANCE SHEET [STANDALONE]
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
36.000 |
36.000 |
36.000 |
|
(b) Reserves & Surplus |
303.305 |
304.585 |
396.018 |
|
(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 |
339.305 |
340.585 |
432.018 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
180.116 |
163.782 |
616.353 |
|
(b) Deferred tax liabilities
(Net) |
1.020 |
0.900 |
21.900 |
|
(c) Other long term
liabilities |
2.500 |
2.513 |
5.259 |
|
(d) long-term provisions |
0.000 |
0.450 |
16.077 |
|
Total
Non-current Liabilities |
183.636 |
167.645 |
659.589 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.033 |
0.033 |
112.237 |
|
(b) Trade payables |
2.303 |
0.828 |
139.331 |
|
(c) Other current liabilities |
0.471 |
0.078 |
0.524 |
|
(d) Short-term provisions |
0.000 |
0.110 |
3.399 |
|
Total
Current Liabilities |
2.807 |
1.049 |
255.491 |
|
|
|
|
|
|
TOTAL |
525.748 |
509.279 |
1347.098 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
6.910 |
7.209 |
206.092 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.519 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
327.216 |
327.216 |
327.216 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
187.392 |
166.607 |
155.088 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
521.518 |
501.032 |
688.915 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
402.760 |
|
(c) Trade receivables |
0.845 |
4.581 |
220.980 |
|
(d) Cash and cash equivalents |
1.024 |
1.314 |
5.934 |
|
(e) Short-term loans and
advances |
2.361 |
2.352 |
28.509 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
4.230 |
8.247 |
658.183 |
|
|
|
|
|
|
TOTAL |
525.748 |
509.279 |
1347.098 |
PROFIT
& LOSS ACCOUNT [STANDALONE]
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
1.480 |
0.886 |
(13.891) |
|
|
Other Income |
22.735 |
24.094 |
30.274 |
|
|
TOTAL
|
24.215 |
24.980 |
16.383 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
0.000 |
0.000 |
984.670 |
|
|
Trade Purchases |
0.000 |
0.000 |
11.358 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.000 |
0.000 |
6.570 |
|
|
Employees benefits expense |
1.063 |
1.128 |
65.764 |
|
|
Foreign Exchange Loss/(Gain) |
0.000 |
0.000 |
3.817 |
|
|
Other expenses |
3.683 |
4.266 |
415.820 |
|
|
|
|
|
|
|
|
TOTAL |
4.746 |
5.394 |
1487.999 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
19.469 |
19.586 |
(1471.616) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
19.938 |
16.457 |
72.584 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.469) |
3.129 |
(1544.200) |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
0.691 |
0.677 |
12.504 |
|
|
|
|
|
|
|
|
Profit/
(loss) before discontinue operation |
(1.160) |
2.452 |
(1556.704) |
|
|
|
|
|
|
|
Less |
Expenses of discontinue
operation |
0.000 |
0.000 |
(1558.167) |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(1.160) |
2.452 |
1.463 |
|
|
|
|
|
|
|
Less |
TAX |
0.120 |
0.064 |
0.946 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(1.280) |
2.388 |
0.517 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
125.425 |
|
|
TOTAL
EARNINGS |
0.000 |
0.000 |
125.425 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
687.406 |
|
|
Components and Stores parts |
0.000 |
0.000 |
15.739 |
|
|
Capital Goods |
0.000 |
0.000 |
9.880 |
|
|
TOTAL
IMPORTS |
0.000 |
0.000 |
713.025 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
(0.070) |
0.13 |
0.92 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
2.140 |
(2.619) |
(0.140) |
|
Net cash flows from (used in) operating activity |
(0.063) |
(3.936) |
2.696 |
QUARTERLY
RESULTS
|
Particulars |
(Unaudited) Quarter Ended |
(Unaudited) Quarter Ended |
(Unaudited) Quarter Ended |
|
|
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Net Sales |
0.400 |
0.300 |
0.400 |
|
Total Expenditure |
1.100 |
1.200 |
1.700 |
|
PBIDT (Excl OI) |
(0.700) |
(0.900) |
(1.3000 |
|
Other Income |
3.300 |
7.300 |
3.700 |
|
Operating Profit |
2.600 |
6.400 |
2.400 |
|
Interest |
3.500 |
3.800 |
3.800 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
(0.900) |
2.600 |
(1.400) |
|
Depreciation |
0.200 |
0.200 |
0.200 |
|
Profit Before Tax |
(1.100 |
2.400 |
(1.600) |
|
Tax |
(0.100 |
0.100 |
(0.300) |
|
Provisions and
contingencies |
NA |
NA |
NA |
|
Profit After Tax |
(1.000) |
2.300 |
(1.300) |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
(1.000) |
2.300 |
(1.300) |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
208.40 |
1887.21 |
(5806.47) |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
1.75 |
0.19 |
(0.06) |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
0.00 |
0.00 |
51.06 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.00 |
0.00 |
(3.65) |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
2.82 |
2.72 |
(7.12) |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.35 |
0.32 |
0.65 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.53 |
0.48 |
1.69 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
0.01 |
0.00 |
0.59 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.02 |
0.02 |
0.48 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
0.98 |
1.19 |
(20.27) |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
(86.49) |
269.53 |
(3.72) |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
(0.24) |
0.47 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
(0.38) |
0.70 |
0.12 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.51 |
7.86 |
2.58 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
1.51 |
7.86 |
1.00 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.65 |
0.67 |
0.32 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
5.00 |
4.55 |
20.24 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets
/ Total Current Liabilities) |
1.51 |
7.86 |
2.58 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK
PRICES
|
Face Value |
INR 2.00/- |
|
Market Value |
INR 15.00/- |
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Share Capital |
36.000 |
36.000 |
36.000 |
|
Reserves & Surplus |
396.018 |
304.585 |
303.305 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
432.018 |
340.585 |
339.305 |
|
|
|
|
|
|
long-term borrowings |
616.353 |
163.782 |
180.116 |
|
Short term borrowings |
112.237 |
0.033 |
0.033 |
|
Total
borrowings |
728.590 |
163.815 |
180.149 |
|
Debt/Equity
ratio |
1.686 |
0.481 |
0.531 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
(13.891) |
0.886 |
1.480 |
|
|
|
(106.378) |
67.043 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
INR
In Million |
INR
In Million |
INR
In Million |
|
Sales |
(13.891) |
0.886 |
1.480 |
|
Profit/ (Loss) |
0.517 |
2.388 |
(1.280) |
|
|
(3.72%) |
269.53% |
(86.49%) |
ABRIDGED
BALANCE SHEET (CONSOLIDATED)
|
SOURCES
OF FUNDS |
|
31.03.2017 |
31.03.2016 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
36.000 |
36.000 |
|
(b) Reserves & Surplus |
|
11.138 |
12.819 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds |
|
47.138 |
48.819 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
180.116 |
163.782 |
|
(b) Deferred tax liabilities
(Net) |
|
1.020 |
0.900 |
|
(c) Other long term liabilities |
|
2.500 |
2.513 |
|
(d) long-term provisions |
|
0.000 |
0.450 |
|
Total
Non-current Liabilities |
|
183.636 |
167.645 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
0.033 |
0.033 |
|
(b) Trade payables |
|
2.430 |
1.908 |
|
(c) Other current liabilities |
|
0.471 |
0.078 |
|
(d) Short-term provisions |
|
0.000 |
0.110 |
|
Total
Current Liabilities |
|
2.934 |
2.129 |
|
|
|
|
|
|
TOTAL |
|
233.708 |
218.593 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
13.229 |
14.391 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
31.616 |
31.616 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
183.917 |
162.414 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
228.762 |
208.421 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
0.000 |
0.000 |
|
(c) Trade receivables |
|
0.845 |
5.706 |
|
(d) Cash and cash equivalents |
|
1.729 |
2.080 |
|
(e) Short-term loans and
advances |
|
2.372 |
2.386 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
4.946 |
10.172 |
|
|
|
|
|
|
TOTAL |
|
233.708 |
218.593 |
PROFIT
& LOSS ACCOUNT (CONSOLIDATED)
|
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
|
|
SALES |
|
|
|
|
|
Income |
|
3.972 |
4.416 |
|
|
Other Income |
|
22.358 |
23.561 |
|
|
TOTAL
|
|
26.330 |
27.977 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
|
1.236 |
2.274 |
|
|
Exceptional items |
|
0.059 |
0.000 |
|
|
Employees benefits expense |
|
1.249 |
1.299 |
|
|
Other expenses |
|
3.796 |
4.477 |
|
|
TOTAL |
|
6.340 |
8.050 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
19.990 |
19.927 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
19.938 |
16.516 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.052 |
3.411 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
|
1.553 |
1.539 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
(1.501) |
1.872 |
|
|
|
|
|
|
|
Less |
TAX |
|
0.180 |
0.067 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
(1.681) |
1.805 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
|
0.09 |
0.10 |
LEGAL
CASE
|
Case Details |
|
Bench:- Bombay |
|
Presentation Date:- 01/06/2017 |
|||||||||
|
Lodging No.:- |
ITXAL/1393/2017 |
Filing Date:- |
01/06/2017 |
Reg. No.:- |
ITXA/42/2017 |
Reg. Date:- |
06/01/2017 |
||
|
Petitioner: |
PR. COMMISSIONER OF INCOME TAX 2 |
Respondent:- |
PUDUMJEE INDUSTRIES LTD |
|
|
Petn. Adv:- |
SURESH KUMAR (I2100) |
Resp. Adv :- |
0(0) |
|
|
District:- |
MUMBAI |
|||
|
Bench:- |
SINGLE |
|||
|
Status:- |
Pre-Admission |
Category:- |
TAX APPEALS |
|
|
Next Date:- |
07/09/2017 |
Stage:- |
FOR REJECTION [ORIGINAL SIDE MATTERS] |
|
|
Coram:- |
REGISTRAR(OS)/PROTHONOTARY & SR. MASTER |
|||
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
|
|
Case Details |
|
Bench:- Bombay |
|
Presentation Date:- 07/12/2017 |
|||||||||
|
Lodging No.:- |
NMAL/2505/2017 |
Filing Date:- |
07/12/2017 |
Reg. No.:- |
NMA/2077//2017 |
Reg. Date:- |
26/12/2017 |
||
|
Petitioner: |
PR. COMMISSIONER OF INCOME TAX 2 |
Respondent:- |
PUDUMJEE INDUSTRIES LTD |
|
|
Petn. Adv:- |
SURESH KUMAR (I2100) |
Resp. Adv :- |
0(0) |
|
|
District:- |
MUMBAI |
|||
|
Bench:- |
DIVISION |
|||
|
Status:- |
Pre-Admission |
Category:- |
NOTICE OF MOTION (TAX) |
|
|
Next Date:- |
09/02/2018 |
Stage:- |
NOTICE OF MOTION FOR HEARING [ORIGINAL SIDE MATTERS] |
|
|
Coram:- |
HONBLE SHRI JUSTICE M.S. SANKLECHA HONBLE SHRI JUSTICE R.I. CHAGLA |
|||
|
Act :- |
Income Tax Act, 1961 |
Under Section:- |
260A |
|
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) |
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 |
No |
|
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 |
Yes |
|
33] |
Market information |
-- |
|
34] |
Payments terms |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
OPERATIONS
The Company's land holding comprises of about 20 acres of land in aggregate at Pune in Maharashtra and Narsinghpur in Madhya Pradesh. The land at Pune, however, will be available for development only after its vacation by Pudumjee Paper Products Limited who have been allowed to use it under the terms of Leave & License Agreement pursuant to the Scheme of Demerger as sanctioned by the Mumbai High Court. The land at Narsinghpur is ideally located on the outskirts of the city of Narsinghpur and can be planned for development at an appropriate time depending upon the prevailing scenario of Real Estate business in the city. Meanwhile the Company also invests funds in the Group Companies, the income from which is recognized as other income in the accounts.
Pudumjee Hygiene Products Limited (PHPL) is engaged in the business of providing machinery on lease. The accounts of PHPL show a net profit of Rs.3.00 lacs on account of interest. Pudumjee Holding Limited (PHL) is another wholly owned subsidiary Company, which mainly holds investment in the Group Companies. Its accounts shows a loss of Rs. 5.81 lacs mainly on account of interests.
Pudumjee Hygiene Products Limited (PHPL) the Company's wholly owned subsidiary is in the business of machinery leasing to tissue converters. The accounts of PHPL shows a net profit of INR 0.300 Million
Pudumjee Holding Limited.(PHL) another wholly owned subsidiary is engaged in the investment activity. The accounts of PHL shows a loss of INR 0.581 Million
MANAGEMENT DISCUSSION
AND ANALYSIS:
After the Demerger of paper manufacturing business the Company's main focus is on Real Estate business for development of land at Pune and Narsinghpur which are ideally located for such a business.
Currently the Real Estate market is going through a lean phase which will further be aggravated albeit temporarily, by new regulatory framework (Real Estate Regulations Act 2016). The Management believes that such a regulatory framework is essential for healthy development of business and would fit into the Company's principles of transparency in dealing with the stake holders.
The existing internal controls of the Company are periodically reviewed by the Audit Committee and are seems to the adequate.
The Company currently employs one employee and the relations
are cordial.
UNSECURED LOAN
|
PARTICULARS |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Deposits from Associates |
180.116 |
163.782 |
|
Short-term
Borrowings |
|
|
|
Other Deposits (There has been no default in repayment of Loan &
Payment of Interest in respect of any of aforesaid borrowings.) |
0.033 |
0.033 |
|
Total |
180.149 |
163.815 |
INDEX
OF CHARGES
|
Sno |
SRN |
Charge Id |
Charge Holder Name |
Date Of Creation |
Date Of Modification |
Amount |
Address |
|
1 |
Y10177996 |
90092975 |
THE UNITED WESTERN BANK LTD |
14/01/2005 |
- |
33000000.0 |
VENKATESH CHAMBER, SPERESCOL ROAD, BOMBAY-400001IN |
|
2 |
Y10169803 |
90084782 |
STATE BANK OF INDIA |
16/02/1998 |
- |
199000000.0 |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY-400023IN |
|
3 |
B60431228 |
90084685 |
STATE BANK OF INDIA |
01/09/1997 |
27/09/2012 |
470000000.0 |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY-400023IN |
|
4 |
Y10169501 |
90084480 |
STATE BANK OF INDIA |
29/06/1996 |
- |
25000000.0 |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY-400023IN |
|
5 |
Y10169461 |
90084440 |
STATE BANK OF INDIA |
09/04/1996 |
- |
27500000.0 |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY-400023IN |
|
6 |
Y10169211 |
90084190 |
BANK OF BARODA |
01/11/1994 |
- |
10674106.0 |
JABALPUR BRANCH, LORGAN JABALPUR, MPIN |
|
7 |
Y10169201 |
90084180 |
STATE BANK OF INDIA |
11/10/1994 |
10/11/1994 |
4500000.0 |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY-400023IN |
|
8 |
Y10169098 |
90084077 |
STATE BANK OF INDIA |
07/03/1994 |
- |
50000000.0 |
COMMERCIAL BRANCH, JUSTICE G.N. VAIDYA MARG, BOMBAY-400023IN |
|
9 |
Y10169094 |
90084073 |
THE BANK OF NOVA SCOTIA |
25/02/1994 |
- |
29000000.0 |
MITTLE TOWER, NARIMAN POINT, BOMBAY MH400021IN |
|
10 |
Y10168997 |
90083976 |
THE BANK OF NOVA SCOTIA |
11/06/1993 |
- |
32500000.0 |
MITTLE TOWER, NARIMAN POINT, BOMBAY MH400021IN |
STATEMENT
OF STANDALONE UNAUDITED FINANCIAL RESULT FO RTHE QUARTER ENDED AND NINE MONTHS
ENDED 31.12.2017
|
|
PARTICULARS |
Three
month ended |
Nine month ended |
|
|
31.12.2017 Unaudited |
30.09.2017 Unaudited |
31.12.2017 Unaudited |
||
|
1. |
Revenue from operations |
0.400 |
0.300 |
1.100 |
|
2. |
Other Income |
3.700 |
7.300 |
14.300 |
|
3. |
TOTAL Revenue |
4.100 |
7.600 |
15.400 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
0.200 |
0.300 |
0.800 |
|
|
Financial Costs |
3.800 |
3.800 |
11.100 |
|
|
Depreciation and amortization
expenses |
0.200 |
0.200 |
0.600 |
|
|
Other expenses |
1.500 |
0.900 |
3.200 |
|
4. |
TOTAL |
5.700 |
5.200 |
15.700 |
|
|
|
|
|
|
|
v. |
Profit before tax |
(1.600) |
2.400 |
(0.300) |
|
|
|
|
|
|
|
vi |
Tax Expenses |
|
|
|
|
|
Current Tax |
0.000 |
0.000 |
(0.300) |
|
|
Deferred Tax |
(0.300) |
0.100 |
0.000 |
|
|
|
|
|
|
|
vii |
Profit for
the period |
(1.300) |
2.300 |
0.000 |
|
Earning per equity share |
(0.07) |
0.13 |
0.000 |
|
NOTES:
- The above result have been reviewed by
the Audit Committee. The board of director as its meeting held on January
20, 2018 approved the above result.
- The auditor have carried out limited overview
of the result for the quarter and nine month ended December 31. 2017.
- The company has one operating segment
which is leasing of real estate Accountancy separate segment information
as not required to be disclosed.
- As per rule 4(1) of the companies Act
2016, as will applicable to the company from financial year 2019-20.
- Previous period figure have been
regrouped whenever constrained necessary confirm to present period a
presentation.
CONTINGENT
LIABILITIES:
(INR
in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
Guarantee for other Companies |
61.787 |
0.000 |
|
Claims against the Company not acknowledged as debts for
excise duty, property tax and commercial claims |
18.311 |
18.311 |
FIXED ASSETS
- Land
- Building
- Furniture and
Fixture
- Plant and
Machinery
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 64.36 |
|
|
1 |
INR 89.71 |
|
Euro |
1 |
INR 78.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
NYT |
|
|
|
|
Report Prepared
by : |
TRUP |
SCORE FACTORS
|
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 |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.