|
|
|
MIRA
INFORM REPORT
|
Report No. : |
495201 |
|
Report Date : |
05.03.2018 |
IDENTIFICATION DETAILS
|
Name : |
PASUPATI ACRYLON LIMITED |
|
|
|
|
Registered
Office : |
Thakurdwara, Kashipur Road, District Moradabad – 244601, Uttar Pradesh |
|
Tel. No.: |
91-161-5083473 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
22.10.1982 |
|
|
|
|
Com. Reg. No.: |
20-015532 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 891.410 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
L50102UP1982PLC015532 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
0588152234 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP08493C |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0348M |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Acrylic Filre, Tow and Tops and PPT Films. (Registered
activity) |
|
|
|
|
No. of Employees
: |
487 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Pasupati Acrylon Limited is into manufacturing of Acrylic Fibre,
Tow/Tops. The Company was incorporated in the year 1982 and has its base in
Moradabad (Uttar Pradesh). For the financial year 2017, the company has reported dip in its
revenue by 19.25% as compared to the previous year but has managed to
maintain a decent profit margin of 7.38%. The moderate financial risk profile of the company is marked by low
reserve base as compared to its capital. Rating takes into consideration the subject’s negligible dente balance
sheet profile. Rating takes into account the subject’s long established track record
of business operations along with extensive experience of its promoters. Business is active. Payment seems to be slow but correct. In view of the aforesaid, the company can be considered for business
dealings with some caution. |
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 (30.09.2017) |
Current Rating (31.12.2017) |
|
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 Borrowing = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
28.07.2017 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Borrowing = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
28.07.2017 |
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 05.03.2018
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.
INFORMATION DENIED BY
|
Name : |
Mr. Rakesh |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-11-47627400 |
|
Date : |
28.02.2018 |
LOCATIONS
|
Registered Office/ Factory 1: |
Thakurdwara, Kashipur Road, District Moradabad – 244601, Uttar
Pradesh, India |
|
Tel. No.: |
91-591-2241263/ 2241351 |
|
Fax No.: |
91-591-2241354 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
M-14, Connaught Circus, Middle Circle, New Delhi – 110 001, India |
|
Tel. No.: |
91-11-23715125 / 23723682 / 3656 / 23315901 / 47627400 |
|
Fax No.: |
91-11-2331 0684 / 23730598 / 47627497 |
|
E-Mail : |
|
|
|
|
|
Sales Office : |
17A-18-19, 1st Floor, Jandu Tower, Milerganj, G.T. Road Ludhiana, Punjab, India |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
P-1 Textile Colony, Industrial Area-A, Ludhiana – 141003, Punjab India |
|
Tel. No.: |
91-161-2662422 |
|
|
|
|
Factory 3: |
Kashipur, Thakur, Uttar Pradesh, India |
DIRECTORS
As on 31.03.2017
|
Name : |
Mr. Vineet Jain |
|
Designation : |
Managing Director |
|
Address : |
25 Friends Colony (West), New Delhi - 110065, India |
|
Date of Birth/ Age : |
02.07.1969 |
|
Qualifications : |
BBA London |
|
Date of Appointment : |
01.10.1994 |
|
DIN No.: |
00107149 |
|
|
|
|
Name : |
Mr. Rakesh Mundra |
|
Designation : |
Whole-Time Director |
|
Address : |
X-305, Siddharth Apartments, Pitampura, New Delhi - 110034, India |
|
Date of Birth/ Age : |
14.04.1960 |
|
Qualifications : |
FCA, FCS & ACMA |
|
Date of Appointment : |
14.02.2012 |
|
DIN No.: |
00005550 |
|
|
|
|
Name : |
Mr. Deveshwer Kumar Kapila |
|
Designation : |
Director |
|
Address : |
House No. 940/17B, Sector 17A,B , Village-Sukhrali, Gurgaon - 122007, Haryana, India |
|
Date of Birth/ Age : |
03.05.1951 |
|
Qualifications : |
FCA |
|
Date of Appointment : |
25.05.2015 |
|
DIN No.: |
00030614 |
|
|
|
|
Name : |
Mr. Subhash Chandra Malik |
|
Designation : |
Director |
|
Address : |
313 Sitaram Apartment I P Extn, New Dlehi – 110092, India |
|
Date of Birth/ Age : |
10.01.1950 |
|
Qualifications : |
B. Com, (Hons), FCA |
|
Date of Appointment : |
14.02.2012 |
|
DIN No.: |
00107170 |
|
|
|
|
Name : |
Mr. S Sathyamoorthy |
|
Designation : |
Director |
|
Address : |
73, Mayfair Apartment, Mayfairgarden,Hauz Khas, New Delhi - 110016, India |
|
Date of Appointment : |
28.09.2006 |
|
DIN No.: |
00459731 |
|
|
|
|
Name : |
Ms. Soma Garg |
|
Designation : |
Director |
|
Address : |
5475/72, Reghar Pura, Karol Bagh, New Delhi - 110005, India |
|
Date of Birth/ Age : |
07.01.1969 |
|
Qualifications : |
M.com, FCA, ACS |
|
Date of Appointment : |
07.08.2015 |
|
DIN No.: |
01344773 |
|
|
|
|
Name : |
Mr. Dinesh Kumar Sharma |
|
Designation : |
Nominee Director |
|
Address : |
C-3361, C Block, Rajajipuram, Lucknow - 226017, Uttar Pradesh, India |
|
Date of Appointment : |
02.02.2015 |
|
DIN No.: |
02437190 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Mundra |
|
Designation : |
Chief Executive Officer / Chief Finance Officer / Company
Secretary |
|
Address : |
X-305, Siddharth Apartments, Pitampura, New Delhi - 110034, India |
|
Date of Appointment : |
26.05.2014 |
|
PAN No.: |
AAFPM8336E |
|
Name : |
Mr. Rakesh Mundra |
|
Designation : |
Company Secretary |
|
Address : |
X-305, Siddharth Apartments, Pitampura, New Delhi - 110034, India |
|
Date of Appointment : |
31.07.2004 |
|
PAN No.: |
AAFPM8336E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on December 2017
|
Names of Shareholders |
No. of Shares |
% age holding |
|
Promoter & Promoter Group |
58715445 |
65.87 |
|
Public |
30417676 |
34.13 |
|
|
|
|
|
Total |
89133121 |
100.00 |
Statement showing shareholding pattern of the Promoter
and Promoter Group
|
Category of
shareholder |
No.
of fully paid up equity shares held |
Shareholding
as a % of total no. of shares |
|
|
A1) Indian |
0.00 |
|
|
|
Individuals/Hindu
undivided Family |
17454996 |
19.58 |
|
|
MANISH JAIN |
15649232 |
17.56 |
|
|
VINEET JAIN |
1202422 |
1.35 |
|
|
VINOD KUMAR JAIN |
603342 |
0.68 |
|
|
Financial
Institutions/ Banks |
4481752 |
5.03 |
|
|
THE PRADESHIYA AND INVESTMENT CORPORATION
OF U.P LTD |
4481752 |
5.03 |
|
|
Any Other
(specify) |
36778697 |
41.26 |
|
|
ARIHANT EXPORTS LIMITED |
4627867 |
5.19 |
|
|
ACCUREX TRADERS PRIVATE LIMITED |
1750000 |
1.96 |
|
|
SULABH PLANTATION & FINANCE LIMITED |
8250000 |
9.26 |
|
|
SIND WAVE FINANCE SERVICES LIMITED |
4000000 |
4.49 |
|
|
PRABHAT CAPITAL SERVICES LIMITED |
3500000 |
3.93 |
|
|
SHUBH EXIM LIMITED |
4500000 |
5.05 |
|
|
GURUKRIPA FINVEST PRIVATE LIMITED |
9000000 |
10.10 |
|
|
INDER OVERSEAS PRIVATE LIMITED |
1000000 |
1.12 |
|
|
NITYANAND EXPORTS AND CONSULTANTS COMPANY
LIMITED |
6380 |
0.01 |
|
|
MNA FINANCE PRIVATE LIMITED |
144450 |
0.16 |
|
|
Sub Total A1 |
58715445 |
65.87 |
|
|
A2) Foreign |
0.00 |
|
|
|
A=A1+A2 |
58715445 |
65.87 |
|
Statement showing shareholding pattern of the Public
shareholder
|
Category
& Name of the Shareholders |
No.
of fully paid up equity shares held |
Shareholding
% calculated as per SCRR, 1957 As a % of (A+B+C2) |
|
|
B1) Institutions |
0 |
0.00 |
|
|
Mutual Funds/ |
179505 |
0.20 |
|
|
Foreign
Portfolio Investors |
36000 |
0.04 |
|
|
Financial
Institutions/ Banks |
5085 |
0.01 |
|
|
Sub Total B1 |
220590 |
0.25 |
|
|
B2) Central
Government/ State Government(s)/ President of India |
0 |
0.00 |
|
|
B3)
Non-Institutions |
0 |
0.00 |
|
|
Individual share
capital upto INR 0.200 Million |
19436408 |
21.81 |
|
|
Individual share
capital in excess of INR 0.200 Million |
6072102 |
6.81 |
|
|
NBFCs registered
with RBI |
90 |
0.00 |
|
|
Any Other
(specify) |
4688486 |
5.26 |
|
|
Bodies Corporate |
2489991 |
2.79 |
|
|
NRI – Repat |
754898 |
0.85 |
|
|
NRI – Non- Repat |
130861 |
0.15 |
|
|
Societies |
90 |
0.00 |
|
|
Overseas corporate bodies |
897566 |
1.01 |
|
|
CEREX TRADING (U.K) LIMITED |
895856 |
1.01 |
|
|
FOREIGN COMPANIES |
415080 |
0.47 |
|
|
Sub Total B3 |
30197086 |
33.88 |
|
|
B=B1+B2+B3 |
30417676 |
34.13 |
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Acrylic Filre, Tow and Tops and PPT Films. (Registered
activity) |
||||
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||||
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Products : |
|
||||
|
|
|
||||
|
Brand Names : |
Not Divulged |
||||
|
|
|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
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Customers : |
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|
|
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|
No. of Employees : |
487 (Approximately) |
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|
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|
Bankers : |
|
|||||||||||||||||||||||||||||||||
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|
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Facilities : |
Note: Long-term
Borrowings a) Loan of INR 19.794 Million (Previous year INR 59.795 Million) are secured by 1st charge on New Plant and Machinery on pari-passu basis and 2nd Pari-passu charge by way of hypothecation of current assets of the Company, subject to existing charge of working capital bankers and assignment of project related documents, contract right interest, insurance contracts etc. and further guaranteed by the Managing Director. b) Secured by hypothecation of specified assets acquired out of the loan amount. There is no default as on the Balance Sheet date in repayment of loans and interest. Short-term
borrowings (a) Secured by hypothecation of book debts, raw-material, finished goods, semi-finished goods, consumable stores and spares including in transit and also secured by a second charge by way of mortgage of immovable properties both present and future and further guaranteed by the Managing Director. |
|
Financial Institutions: |
Kotak Mahindra Prime Limited, 27BKC, C 27, G Block, Bandra
Kurla Complex, Bandra (East), Mumbai – 400051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Suresh Kumar Mittal and Company Chartered Accountants |
|
Address : |
House No. 60, 1st Floor, Pocket H-3, Sector-18, Rohini,
Delhi – 110085, India |
|
Tel. No.: |
91-11-27871988 |
|
E-Mail : |
|
|
|
|
|
Name : |
B. K. Shroff and
Company Chartered Accountants |
|
Address : |
3/7-B, Asaf Ali Road, 1st Floor, Flat No. 4, New Delhi -
110002, India |
|
Tel No.: |
91-11-23271407 / 23284825 / 23284826 |
|
Fax No.: |
91-11-23270362 |
|
Email : |
|
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Enterprises over
which key management personnel/ relative
have significant influence: |
|
|
|
|
|
Other related
parties : |
|
CAPITAL STRUCTURE
As on 31.03.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000000 |
Equity Shares |
INR 10/-each |
INR 1000.000 Million |
|
|
|
|
|
Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89158825 |
Equity Shares |
INR 10/-each |
INR 891.588
Million |
|
|
|
|
|
Subscribed & Paid-up Capital
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
89133121 |
Equity Shares |
INR 10/-each |
INR 891.331
Million |
|
|
Add: Forfeited Shares |
|
INR 0.079
Million |
|
|
Total |
|
INR 891.410 Million |
@ Does not include 15800 Shares (Previous year 15800 Shares) forfeited in earlier years, amount forfeited INR 0.079 Million (Previous year 0.079 Million) included in share capital subscribed and paid up.
Details of shares in
the company held by each shareholder holding more than 5% of shares is as
under:
|
Name of the
Shareholder |
As at 31.3.2017 |
|
|
|
No. of Shares |
Percentage |
|
Manish Jain |
15649232 |
17.56 |
|
Gurukripa Finvest Private Limited |
9000000 |
10.10 |
|
Sulabh Plantation and Finance Private Limited |
8250000 |
9.26 |
|
Arihant Exports Private Limited |
4627867 |
5.19 |
|
Shubh Exim Limited. |
4500000 |
5.05 |
|
PICUP |
4481752 |
5.03 |
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
891.410 |
891.410 |
891.410 |
|
(b) Reserves & Surplus |
325.944 |
176.470 |
(56.487) |
|
(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) |
1217.354 |
1067.880 |
834.923 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
39.555 |
117.815 |
152.385 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.909 |
2.741 |
14.922 |
|
(d) long-term provisions |
22.488 |
21.882 |
19.876 |
|
Total
Non-current Liabilities (3) |
65.952 |
142.438 |
187.183 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
220.628 |
195.932 |
72.710 |
|
(b) Trade payables |
904.877 |
784.672 |
1390.278 |
|
(c) Other current liabilities |
268.982 |
161.312 |
230.309 |
|
(d) Short-term provisions |
71.816 |
123.488 |
60.428 |
|
Total
Current Liabilities (4) |
1466.303 |
1265.404 |
1753.725 |
|
|
|
|
|
|
TOTAL |
2749.609 |
2475.722 |
2775.831 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
307.711 |
538.595 |
663.426 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
322.794 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
40.059 |
29.800 |
168.751 |
|
(d) Long-term Loan and Advances |
0.000 |
105.085 |
0.000 |
|
(e) Other Non-current assets |
0.583 |
0.742 |
0.682 |
|
Total
Non-Current Assets |
671.147 |
674.222 |
832.859 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
331.360 |
176.812 |
0.000 |
|
(b) Inventories |
1006.958 |
887.912 |
1279.425 |
|
(c) Trade receivables |
323.449 |
392.837 |
266.738 |
|
(d) Cash and cash equivalents |
230.217 |
119.653 |
224.882 |
|
(e) Short-term loans and
advances |
73.070 |
58.414 |
49.448 |
|
(f) Other current assets |
113.408 |
165.872 |
122.479 |
|
Total
Current Assets |
2078.462 |
1801.500 |
1942.972 |
|
|
|
|
|
|
TOTAL |
2749.609 |
2475.722 |
2775.831 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Income |
4608.662 |
5336.076 |
5370.026 |
|
|
Other Income |
111.943 |
69.101 |
77.220 |
|
|
TOTAL
|
4720.605 |
5405.177 |
5447.246 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3159.941 |
3647.948 |
4174.233 |
|
|
Purchases of Stock-in-Trade |
1.948 |
2.349 |
0.756 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(158.738) |
159.161 |
(180.049) |
|
|
Employees benefits expense |
197.338 |
193.268 |
182.037 |
|
|
Exceptional Items |
54.110 |
30.776 |
34.711 |
|
|
Other expenses |
814.821 |
789.921 |
868.433 |
|
|
TOTAL |
4069.420 |
4823.423 |
5080.121 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
651.185 |
581.754 |
367.125 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
54.794 |
63.034 |
76.160 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
596.391 |
518.720 |
290.965 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
68.623 |
74.309 |
73.216 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
527.768 |
444.411 |
217.749 |
|
|
|
|
|
|
|
Less |
TAX |
187.371 |
145.072 |
72.004 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
340.397 |
299.339 |
145.745 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(159.731) |
(459.070) |
(600.007) |
|
|
|
|
|
|
|
|
Depreciation for earlier years |
NA |
NA |
4.808 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
180.666 |
(159.731) |
(459.070) |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
609.520 |
450.962 |
1247.911 |
|
|
TOTAL
EARNINGS |
609.520 |
450.962 |
1247.911 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
2809.032 |
3158.423 |
3706.680 |
|
|
Components and Stores parts |
1.302 |
2.792 |
1.296 |
|
|
TOTAL
IMPORTS |
2810.334 |
3161.215 |
3707.976 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (INR) |
3.82 |
3.36 |
1.64 |
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
43.260 |
43.056 |
68.398 |
|
Cash generated from operations |
613.223 |
268.238 |
363.797 |
|
Net cash flow from operating activity |
442.648 |
221.597 |
357.379 |
QUARTERLY RESULTS
|
Particulars |
30.06.2017 |
30.09.2017 |
31.12.2017 |
|
Audited / Unaudited |
Unaudited |
Unaudited |
Unaudited |
|
|
1ST Quarter |
2nd Quarter |
3rd Quarter |
|
Net Sales |
1268.300 |
1307.300 |
1427.100 |
|
Total Expenditure |
1210.800 |
1194.200 |
1248.700 |
|
PBIDT (Excl OI) |
57.500 |
113.100 |
178.400 |
|
Other Income |
17.000 |
14.700 |
29.900 |
|
Operating Profit |
74.500 |
127.800 |
208.300 |
|
Interest |
12.400 |
11.100 |
10.700 |
|
Exceptional Items |
NA |
NA |
NA |
|
PBDT |
62.100 |
116.700 |
197.600 |
|
Depreciation |
10.800 |
12.500 |
14.800 |
|
Profit Before Tax |
51.300 |
104.200 |
182.800 |
|
Tax |
18.800 |
37.200 |
65.600 |
|
Provisions and contingencies |
NA |
NA |
NA |
|
Profit After Tax |
32.500 |
67.000 |
117.200 |
|
Extraordinary Items |
NA |
NA |
NA |
|
Prior Period Expenses |
NA |
NA |
NA |
|
Other Adjustments |
NA |
NA |
NA |
|
Net Profit |
32.500 |
67.000 |
117.200 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry Debtors / Income * 365 Days) |
25.62 |
26.87 |
18.13 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry
Debtors) |
14.25 |
13.58 |
20.13 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors
/ Purchases * 365 Days) |
104.46 |
78.46 |
121.55 |
|
|
|
|
|
|
Inventory Turnover (Operating Income
/ Inventories) |
0.65 |
0.66 |
0.29 |
|
|
|
|
|
|
Asset Turnover (Operating Income
/ Net Fixed Assets) |
1.03 |
1.08 |
0.55 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing + Current Liabilities) / Total
Assets) |
0.56 |
0.58 |
0.71 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability
/ Networth) |
0.25 |
0.33 |
0.35 |
|
|
|
|
|
|
Current Liabilities to Networth (Current
Liabilities / Net Worth) |
1.20 |
1.18 |
2.10 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets
/ Networth) |
0.52 |
0.50 |
0.79 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial
Charges) |
11.88 |
9.23 |
4.82 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Net Profit Margin ((PAT / Sales) *
100) |
% |
7.39 |
5.61 |
2.71 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total
Assets) * 100) |
% |
12.38 |
12.09 |
5.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth)
* 100) |
% |
27.96 |
28.03 |
17.46 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current Assets / Current Liabilities) |
1.42 |
1.42 |
1.11 |
|
|
|
|
|
|
Quick Ratio ((Current Assets
– Inventories) / Current Liabilities) |
0.73 |
0.72 |
0.38 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total
Assets) |
0.44 |
0.43 |
0.30 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity
Capital) |
0.34 |
0.40 |
0.33 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current
Assets / Total Current Liabilities) |
1.42 |
1.42 |
1.11 |
Total Liability = Short-term Debt + Long-term
Debt + Current Maturities of Long-term debts
STOCK PRICES
|
Face Value |
INR 10.00/- |
|
Market Value |
INR 26.00/- |
FINANCIAL ANALYSIS
[all figures are
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 |
891.410 |
891.410 |
891.410 |
|
Reserves & Surplus |
(56.487) |
176.470 |
325.944 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
834.923 |
1067.880 |
1217.354 |
|
|
|
|
|
|
Long Term borrowings |
152.385 |
117.815 |
39.555 |
|
Short Term borrowings |
72.710 |
195.932 |
220.628 |
|
Current Maturities of Long term debt |
68.398 |
43.056 |
43.260 |
|
Total
borrowings |
293.493 |
356.803 |
303.443 |
|
Debt/Equity
ratio |
0.352 |
0.334 |
0.249 |
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
|
5370.026 |
5336.076 |
4608.662 |
|
|
|
(0.632) |
(13.632) |
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
|
5370.026 |
5336.076 |
4608.662 |
|
Profit |
145.745 |
299.339 |
340.397 |
|
|
2.71% |
5.61% |
7.39% |
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) |
No |
|
16 |
No. of employees |
No |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
No |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
RESULTS OF OPERATIONS
AND STATE OF COMPANY’S AFFAIRS
The Company has recorded production of 38918 MT and Sale of 37515 MT during the year as against 41616 MT and Sale of 41616 MT respectively during the previous year. The EBIDTA increased to INR 705.300 Million from INR 612.500 Million and Net Profit increased to INR 340.400 Million from INR 299.300 Million in the previous year. Barring unforeseen circumstances it is expected that during current financial year company should continue to do well.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2017 (INR
in Million) |
31.03.2016 (INR
in Million) |
|
Long-term
Borrowings |
|
|
|
Inter Corporate Deposits |
17.500 |
52.500 |
|
|
|
|
|
Short-term
borrowings |
|
|
|
Deferred Credit |
6.817 |
140.850 |
|
|
|
|
|
Total |
24.317 |
193.350 |
INDEX OF CHARGES:
|
SNo |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of
Modification |
Date of
Satisfaction |
Amount |
Address |
|
1 |
G47009048 |
100105964 |
KOTAK MAHINDRA PRIME LIMITED |
31/05/2017 |
- |
- |
2800000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
2 |
G03638418 |
100027518 |
KOTAK MAHINDRA PRIME LIMITED |
30/11/2015 |
- |
- |
6500000.0 |
27BKC, C 27, G BlockBandra Kurla Complex, Bandra (E),MumbaiMa400051IN |
|
3 |
B09904244 |
10278122 |
Allahabad Bank |
24/03/2011 |
- |
- |
270000000.0 |
I F Branch17 Parliament streetNew DelhiDL110001IN |
|
4 |
B30245914 |
80044162 |
Allahabad Bank |
25/01/2006 |
21/12/2011 |
- |
86800000.0 |
17 Par;iament StreetIF BranchNew DelhiDL110001IN |
|
5 |
B36830511 |
90274445 |
Allahabad Bank |
04/01/1995 |
16/03/2012 |
- |
1656200000.0 |
Industrial Finance Branch17 Parliament StreetNew DelhiDL110001IN |
|
6 |
B30248991 |
80044161 |
Allahabad Bank |
04/01/1995 |
21/12/2011 |
- |
1656200000.0 |
17 Par;iament StreetIF BranchNew DelhiDL110001IN |
|
7 |
Z01848776 |
80067854 |
Allahabad Bank |
27/12/1991 |
- |
- |
31000000.0 |
Parliament StreetNew DelhiDL110001IN |
|
8 |
G10223584 |
100024563 |
BANK OF BARODA |
27/12/1991 |
- |
17/08/2016 |
61400000.0 |
PARLIAMENT STREETSNEW DELHIDL110001IN |
|
9 |
G05480090 |
10251030 |
Allahabad Bank |
19/11/2010 |
- |
06/06/2016 |
132500000.0 |
IF Branch17 Parliament StreetNew DelhiDL110001IN |
|
10 |
G05479969 |
10207909 |
Allahabad Bank |
29/03/2010 |
14/09/2011 |
06/06/2016 |
524100000.0 |
17 Parliament StreetNew DelhiDL110001IN |
STATEMENT OF
STANDALONE UNAUDITED FINANCIAL RESULTS FOR THE QUARTER AND NINE MONTHS ENDED 31ST
DECEMBER 2017
|
|
|
Particulars |
quarter ended |
quarter ended |
6 months ended |
|
|
|
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
1 |
|
Income from
Operations |
|
|
|
|
|
|
Sales/Income from Operations (Gross) |
1427.100 |
1307.300 |
4002.700 |
|
|
|
b) Other Operating Income |
29.900 |
14.700 |
61.600 |
|
|
Total Income from
Operations (Net) |
1457.000 |
1322.000 |
4064.300 |
|
|
2 |
Expenses |
|
|
|
|
|
|
a) |
Cost of Materials consumed |
923.600 |
858.100 |
2887.700 |
|
|
b) |
Purchase of Stock-in-trade |
0.000 |
0.000 |
0.000 |
|
|
c) |
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
89.700 |
218.700 |
0.200 |
|
|
d) |
Employee benefit expenses |
53.300 |
51.500 |
156.000 |
|
|
e) |
Finance Costs |
10.700 |
11.100 |
34.200 |
|
|
f) |
Depreciation and amortization expense |
14.800 |
12.500 |
38.100 |
|
|
g) |
Excise Duty |
-- |
(105.400) |
51.200 |
|
|
h) |
Other expenses |
182.100 |
171.300 |
559.000 |
|
|
Total Expenses |
1274.200 |
1217.800 |
3726.000 |
|
|
|
|
|
|
|
|
|
7 |
Profit /(Loss) from
ordinary activities after finance costs but before exceptional items |
182.800 |
104.200 |
338.300 |
|
|
8 |
Exceptional Items |
-- |
-- |
-- |
|
|
9 |
Profit /(Loss) from
ordinary activities before tax |
182.800 |
104.200 |
338.300 |
|
|
10 |
Tax Expense |
|
|
|
|
|
|
Current Tax |
54.400 |
20.200 |
93.100 |
|
|
|
Deferred Tax |
11.200 |
17.00 |
28.500 |
|
|
11 |
Net Profit /(Loss)
from ordinary activities after tax |
117.200 |
67.000 |
216.700 |
|
|
|
Other Comprehensive
Income: |
|
|
|
|
|
|
Other Comprehensive
Income: |
|
|
|
|
|
|
A. Items that will not be reclassified to profit or loss |
(0.400) |
(0.400) |
(1.200) |
|
|
|
B. Items that will be reclassified to profit or loss |
-- |
-- |
-- |
|
|
|
Other Comprehensive Income for the year, net of taxes |
(0.400) |
(0.400) |
(1.200) |
|
|
|
Total Other
Comprehensive Income for the period |
116.800 |
66.600 |
215.500 |
|
|
|
|
|
|
|
|
|
12 |
Paid up equity share capital (Eq. shares of INR 10/- each) |
891.400 |
891.400 |
891.400 |
|
|
13 |
Other Equity |
|
|
541.600 |
|
|
14 |
|
Earnings per share (before/after extraordinary items) of Rs.10/- each |
|
|
|
|
|
|
Basic & Diluted |
1.31 |
0.75 |
2.42 |
STANDALONE SEGMENT
WISE INFORMATION FOR THE QUARTER AND NINE MONTHS ENDED DECEMBER 2017
|
Particulars |
quarter ended |
quarter ended |
Nine Months ended |
|
31.12.2017 |
30.09.2017 |
31.12.2017 |
|
|
Segment Revenue |
|
|
|
|
a) Fibre |
1387.400 |
1295.600 |
3951.300 |
|
b) CPP Film |
39.700 |
11.700 |
51.400 |
|
Total |
1427.100 |
1307.300 |
4002.700 |
|
|
|
|
|
|
Segment Results |
|
|
|
|
Profit/(Loss) before Tax .Exceptional items and Interest |
|
|
|
|
from each segment |
|
|
|
|
a) Fibre |
194.300 |
115.100 |
373.100 |
|
b) CPP Film |
(0.800) |
0.200 |
(0.600) |
|
Total |
193.500 |
115.300 |
372.500 |
|
Less: i) Finance Cost |
10.700 |
11.100 |
34.200 |
|
Total Profit /
(Loss) before Tax |
182.800 |
104.200 |
338.300 |
|
|
|
|
|
|
Segment Assets |
|
|
|
|
a) Fibre |
2544.100 |
2213.100 |
2544.100 |
|
b) CPP Film |
474.400 |
465.900 |
474.400 |
|
Total Segment
Assets |
3018.500 |
2679.000 |
3018.500 |
|
|
|
|
|
|
Segment Liabilities |
|
|
|
|
a) Fibre |
1569.200 |
1348.300 |
1569.200 |
|
b) CPP Film |
16.300 |
14.500 |
16.300 |
|
Total Segment
Liabilities |
1585.500 |
1362.800 |
1585.500 |
NOTE:
1. The company adopted Indian Accounting Standards (Ind-AS) from 1st April 2017 and accordingly these financial results have been prepared in accordance with the recognitions and measurement principle laid down in the Ind-AS 34 Interim financial reporting prescribed under section 133 of the companies Act 2013 read with relevant Rules issued thereunder and the other accounting Principles generally accepted in India. The result for the quarter and nine months ended 31st December 2016 have been restated to make hem comparable with Ind AS results.
2. The above results were reviewed by the Audit committee and approved by the
board of director at their meeting held on February 14, 2018 in compliance with
Regulation 33 of the SEBI (listing obligations & Disclosure Requirements)
Regulation 2015 a limited review of the above results has been carried out by
the statutory Auditors.
3. The Government of India Introduced the Goods and services Tax (GST) with
effect from July 01, 2017 GST is collected on behalf of the Government and no
economic benefit follows to the entity and hence Gross Revenue under GST regime
is presented excluding GST as per IND AS 18 Revenue. However Gross Revenue
under Pre GST regime included Excise Duty which is now subsumed in GST.
Consequently the figures for the quarter and nine months ended December 31,
2017 are not comparable with the previous periods presented in the results.
4. Reconciliation of the financial results to those reported under previous
Generally Accepted Accounting principles (GAAP) are summarized as
follows For table, kindly refer Corporate Announcements on www.bseindia.com.
CONTINGENT
LIABILITIES:
(INR in million)
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
|
i) Guarantee(s) given by banks and financial institutions |
18.396 |
11.196 |
|
ii) Letters of Credit outstanding |
456.872 |
248.780 |
|
iii) Sales Tax/Excise Duty/Custom Duty/Other Statutory dues/ Service Tax disputed in appeals |
23.697 |
25.581 |
|
iv) Labour Cases disputed in appeal |
0.550 |
0.542 |
FIXED ASSETS
- Lease Hold Land
- Free Hold Land
- Office Premises
- Building
- Plant and Machinery
- Electrical Installations
- Office Equipments
- Furniture & Fixtures
- Vehicles
- Live Stock
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 65.22 |
|
|
1 |
INR 89.70 |
|
Euro |
1 |
INR 79.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
PRY |
|
|
|
|
Report Prepared
by : |
SUJ |
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 |
YES |
|
--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.