MIRA
INFORM REPORT
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Report Date : |
20.8.2007 |
IDENTIFICATION DETAILS
|
Name : |
GTP GRANITES
LIMITED |
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Registered
Office : |
4/36, |
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Country : |
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Financials (as
on) : |
31.03.2006 |
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Date of
Incorporation : |
29.05.1990 |
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Com. Reg. No.: |
18-2722 |
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CIN No.: [Company
Identification No.] |
U14102TZ1990PLC002722 |
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IEC No.: |
3292000441 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEG05934F |
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PAN No.: [Permanent
Account No.] |
AAACG7711K |
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Legal Form : |
Subject is a
closely held public limited liability company. |
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Line of
Business : |
Manufacturers, quarry
owners and exporters of cut and polished granite, slabs and monuments |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 1307968 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track.
Trade relations are fair. Financial position is satisfactory. Payments are usually
correct and as per commitments. The company is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered
Office : |
4/36, |
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Tel. No.: |
91-427-2448490 /
2447645 |
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Fax No.: |
91-427-2448744 /
2341531 |
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E-Mail : |
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Website |
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Factory: |
·
Unit
1, 151/1, Jagir Ammapalayam, Mamangam, Tel. No. 91-427-2341932/2340722/2340663 Fax No. 91-427-2341531/2341099 E-mail : info@gtpgranites.com ·
Unit
2, 63/1C, Venkatachalapathy, Chetichavadi, Omalur, Tamil Tel. No : 91-427-2448733/445943 Fax No : 91-427-2430256 Email : siva@gtpgranites.com |
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Headquarters: |
·
Swarnapuri, Tamilnadu 636004 Tel. No : 91-427-2346392/96/93 Fax No : 91-427-2346304/03 |
DIRECTORS
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Name : |
Mr. Sengoda
Gounder Muthurajan |
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Designation : |
Managing Director |
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Address : |
134, |
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Date of
Birth/Age : |
03.08.1947 |
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Date of
Appointment : |
02.09.1996 |
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Name : |
Mr. Jebamani Jaya
Singh |
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Designation : |
Whole time
Director |
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Address : |
16, Indira Nagar,
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Date of Birth/Age
: |
11.12.1942 |
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Date of
Appointment : |
20.07.1995 |
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Name : |
Mr. K.
Kamalakannan |
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Designation : |
Whole Time
Director |
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Address : |
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Date of Birth/Age
: |
30.07.1963 |
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Date of
Appointment : |
02.09.1996 |
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Name : |
Mr. R.
Sivasubramnian |
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Designation : |
Whole Time
Director |
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Address : |
3, Greenlands, |
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Date of
Birth/Age : |
17.10.1956 |
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Date of
Appointment : |
20.07.1995 |
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Name : |
Mr. K. Raghuveer |
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Designation : |
Director |
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Address : |
4, |
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Date of
Birth/Age : |
17.01.1947 |
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Date of
Appointment : |
30.09.1995 |
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Name : |
Mr. M.
Balakrishnan |
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Designation : |
Director |
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Name : |
Mr. K. Muthusamy |
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Designation : |
Director |
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Name : |
Mr. Palaniappan
Thangavelu |
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Designation : |
Additional
Director |
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Address : |
276, |
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Date of
Birth/Age : |
10.04.1946 |
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Date of
Appointment : |
16.05.2007 |
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Other
Directorship: |
·
Golden
Spinning Mills Private Limited ·
Sri
Murugan Spinning Mills Private Limited |
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Name : |
Mr. Palaniappan
Sundaram |
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Designation : |
Additional
Director |
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Address : |
169, |
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Date of
Birth/Age : |
24.07.1948 |
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Date of
Appointment : |
16.05.2007 |
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Other
Directorship: |
·
Golden
Spinning Mills Private Limited ·
Sri Murugan
Spinning Mills Private Limited |
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Name : |
Mr. Palaniappan Gunasekaran |
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Designation : |
Additional Director |
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Address : |
58, |
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Date of
Birth/Age : |
17.04.1955 |
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Date of Appointment
: |
16.05.2007 |
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Name : |
Mr. Thangavel Ganesh |
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Designation : |
Additional Director |
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Address : |
276, |
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Date of
Birth/Age : |
31.03.1974 |
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Date of
Appointment : |
16.05.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names
of Shareholders |
No. of Shares |
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Mr. S. Muthurajan |
2759948 |
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Mr. K. Muthusamy |
115511 |
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Mr. K.
Kamalakannan |
49511 |
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Mr. S Manickam |
15000 |
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Ms. M. Baby
Saroja |
93500 |
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Arora
Trading Limited |
452978 |
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Appichi Gounder |
40000 |
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Fairdeal Holdings
Private Limited |
90000 |
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Wise and Safe
Holdings Private Limited |
40000 |
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Safe and Sound
Holdings Private Limited |
90000 |
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Mr. M.
Venkatachalam |
70000 |
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Total |
3816488 |
Equity share
breakup (Percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Foreign holdings (Foreign institutional investor(s), Foreign Companie(s),
Foreign financial institution(s), Non-resident Indian(s) or Overseas
corporate bodies or Others |
12.00 |
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2 |
Directors or relatives of directors |
88.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, quarry owners and exporters of cut and polished
granite, slabs and monuments |
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Product |
Cut and Polished Granite Slabs and Monuments – 251612.02 |
PRODUCTION STATUS
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Particulars |
Unit |
Installed
Capacity |
Actual
Production |
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Granite Slabs |
Cubic Meters |
3,26,400 |
241207 |
GENERAL INFORMATION
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No. of
Employees : |
1500 |
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Bankers : |
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Facilities : |
From The Lakshmi
Vilas Bank Limited - Rs. 30.972 millions Post Shipment
Credit Secured by equitable
mortgage of the immovable properties of the company and by hypothecation of
stock, consumables, Spares, Plant & Machinery, book debts both present
and future and guaranteed by the directors From ICICI
Limited, Chennai – Rs. 1.336 Millions
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Banking Relations : |
Good |
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Auditors : |
Bala and Sakthi Chartered
Accountants, |
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Tel. No.: |
91-427-210676/212718 |
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Address: |
7AA, |
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Associates/Subsidiaries
: |
·
Ashok
Granites 4/36, Tamil -
Quarrying
and manufacturing of granites slabs and monuments ·
Golden
Spinning Mills Private Limited CIN No.: U17111Z1981PTC001017 ·
Sri Murugan
Spinning Mills Private Limited CIN No.: U17111TZ1981PTC001021 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
38,16,448 |
Equity Shares |
Rs.10/- each |
Rs. 38.164 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share Capital |
38.165 |
38.165 |
38.165 |
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2] Share
Application Money |
0.482 |
0.482 |
0.482 |
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3] Reserves &
Surplus |
288.345 |
283.000 |
259.068 |
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4] (Accumulated
Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
326.992 |
321.647 |
297.715 |
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LOAN FUNDS |
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1] Secured Loans |
144.137 |
109.166 |
32.338 |
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2] Unsecured
Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
144.137 |
109.166 |
32.338 |
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DEFERRED TAX
LIABILITIES |
16.872 |
21.435 |
14.385 |
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TOTAL |
488.001 |
452.248 |
344.438 |
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APPLICATION OF
FUNDS |
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FIXED ASSETS [Net
Block] |
204.705 |
263.356 |
121.194 |
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Capital
work-in-progress |
3.717 |
0.000 |
0.000 |
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INVESTMENT |
4.075 |
0.000 |
0.000 |
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DEFERREX TAX
ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS,
LOANS & ADVANCES |
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Inventories |
94.002
|
86.685 |
70.751 |
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Sundry Debtors |
155.016
|
120.866 |
124.300 |
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Cash & Bank
Balances |
9.354
|
5.381 |
18.860 |
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Other Current
Assets |
0.000
|
0.000 |
0.000 |
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Loans &
Advances |
40.193
|
38.271 |
30.55 |
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Total Current Assets |
298.565
|
251.203 |
244.461 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities |
22.137
|
60.684 |
21.217 |
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Provisions |
0.924
|
1.627 |
0.000 |
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Total Current Liabilities |
23.061
|
62.311 |
21.217 |
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Net
Current Assets |
275.504 |
188.892 |
223.244 |
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MISCELLANEOUS
EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
488.001 |
452.248 |
344.438 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
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Sales Turnover |
471.296 |
420.873 |
405.200 |
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Other Income |
0.255 |
0.135 |
1.033 |
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Total Income |
471.551 |
421.008 |
404.167 |
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Profit/(Loss) Before Tax |
8.672 |
39.816 |
41.730 |
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Provision for Taxation |
0.000 |
0.000 |
8.721 |
|
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Profit/(Loss) After Tax |
8.672 |
39.816 |
33.009 |
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Expenditures : |
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Raw Material |
204.097 |
191.426 |
193.020 |
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Consumables |
0.000 |
0.000 |
34.771 |
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Power and fuel |
0.000 |
0.000 |
9.392 |
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|
Purchase for trading exports |
0.000 |
0.000 |
3.884 |
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|
Employee’s Remuneration and Benefits |
0.000 |
0.000 |
18.623 |
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|
Other Manufaturing Expenses |
0.000 |
0.000 |
36.138 |
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Administrative Expenses |
0.000 |
0.000 |
21.792 |
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Expenses |
0.000 |
0.000 |
16.936 |
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Financial Expenses |
0.000 |
0.000 |
2.960 |
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Depreciation |
0.000 |
0.000 |
13.070 |
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|
Purchases made for re-sale |
27.251 |
10.480 |
0.000 |
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|
Increase/(Decrease) in Finished Goods |
2.547 |
3.277 |
(392.317) |
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|
Salaries, Wages, Bonus, etc. |
63.228 |
58.179 |
0.000 |
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|
Managerial Remuneration |
0.607 |
0.553 |
0.000 |
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Payment to Auditors |
0.052 |
0.053 |
0.000 |
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Interest |
9.432 |
4.916 |
0.000 |
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|
Insurance Expenses |
0.092 |
0.156 |
0.000 |
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|
Power & Fuel |
10.007 |
9.481 |
0.000 |
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Depreciation & Amortization |
58.372 |
29.382 |
0.000 |
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Other Expenditure |
46.074 |
32.296 |
0.000 |
|
Total
Expenditure |
421.759 |
340.199 |
(41.730) |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
1.83 |
9.45 |
8.16 |
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Net Profit Margin
(PBT/Sales) |
(%) |
1.84 |
9.46 |
10.29 |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
1.72 |
7.73 |
11.41 |
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Return on Investment (ROI)
(PBT/Networth) |
|
0.02 |
0.12 |
0.14 |
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
0.51 |
0.53 |
0.17 |
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|
Current Ratio
(Current
Asset/Current Liability) |
|
12.94 |
4.03 |
11.52 |
LOCAL AGENCY FURTHER INFORMATION
Operation
Export
turnover registered an increased of 7% in corporation to the provisos year. The
company made a net profit of Rs. 25.766 millions after providing for interest
depreciation and also other provisions
Wind Power Generation – During the year the company had forayed into
wind power generations and had set up two wind electric generators of 5000KW
each a total cost of Rs. 50.000 Millions in the first phase
Fixed Assets
- Land
- Building
- Plant & Machinery
- Electrical Installations
- Furniture & Fixture
- Vehicles
- Office Equipment
- Computer
- Miscellaneous Assets
- Wind Electric Generators
- Mines / Quarry Development
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Name of the
company |
GTP GRANITES LIMITED |
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Presented By |
Lakshmi Vilas Bank |
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1) Date and
description of instrument creating the change |
Letter of
hypothecation dated 21.11.1994 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Packing Credit -
Rs. 7.000 millions |
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3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
Granite meant for
export |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 13%
per annum from 21.11.1994 to the date of payment in full with quarterly
rests |
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5) Name and
Address and description of the person entitled to the charge. |
Lakshmi Vilas
Bank, 62-63, |
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6) Date and brief description of instrument
modifying the charge |
Agreement for
hypothecation of goods received under LC and Co – acceptances dated
21.04.2004 Form No. 548
dated 21.04.2004 – Extension of Equitable Mortgage created on 13.09.1996 Form No. 548 dated
21.04.2004 – Extension of Equitable dated 02.03.1999 |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
The existing limits
of Rs. 138.300 Millions stands increased by new FLC Limit of Rs. 30.000
Millions and reduced by Rs. 26.000 Millions of Rs. 142.300 Millions
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Name of the
company |
GTP GRANITES LIMITED |
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Presented By |
State Bank of |
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|
1) Date and
description of instrument creating the change |
Agreement of
hypothecation of goods and assets dated 24.03.2005 Letter regarding
the grant of individual limit dated 24.03.2005 Memorandum of
deposit for creation of charge for term dated 24.03.2005 |
||||||||||||||||||
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 45.000
millions |
||||||||||||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation of
suzlon s64 – 1250 wind turbine generators with accessories Creation of
equitable mortgage by deposited of title deeds of land properties of the
company |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
The loan is
repayable installment |
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5) Name and
Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument
modifying the charge |
Not Applicable |
||||||||||||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
||||||||||||||||||
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|
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Name of the
company |
GTP GRANITES LIMITED |
||||||||||||||||||
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Presented
By |
Punjab National Bank, 774, |
||||||||||||||||||
|
1) Date and
description of instrument creating the change |
Term Loan dated
Rs. 09.09.2004 |
||||||||||||||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 70.000
millions |
||||||||||||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Exclusive first charge
on 2 Nos. of suzlon wind mill with their accessories |
||||||||||||||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The loan is to be
repaid in 20 quarterly installment of Rs. 3.500 Millions each excluding
period commencing from January, 2005 |
||||||||||||||||||
|
5) Name and
Address and description of the person entitled to the charge. |
Punjab National
Bank, 774, |
||||||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
Memorandum of
entry in the title deeds registered dated 20.09.2004 |
||||||||||||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Creation of equitable
mortgage by deposite of title deeds
|
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|
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Name of the
company |
GTP GRANITES LIMITED |
||||||||||||||||||
|
Presented By |
Punjab National Bank, 774, |
||||||||||||||||||
|
1) Date and
description of instrument creating the change |
Term Loan dated
Rs. 09.09.2004 |
||||||||||||||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 70.000
millions |
||||||||||||||||||
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Exclusive first
charge on 2 Nos. of suzlon wind mill with their accessories |
||||||||||||||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The loan is to be
repaid in 20 quarterly installment of Rs. 3.500 Millions each excluding
period commencing from January, 2005 |
||||||||||||||||||
|
5) Name and Address
and description of the person entitled to the charge. |
Punjab National
Bank, 774, |
||||||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
||||||||||||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Name of the
company |
GTP GRANITES LIMITED |
||||||||||||||||||
|
Presented By |
State Bank of |
||||||||||||||||||
|
1) Date and
description of instrument creating the change |
Agreement of
hypothecation of goods and assets dated 24.03.2005 Letter regarding the
grant of individual limit dated 24.03.2005 Memorandum of
deposit for creation of charge for term dated 24.03.2005 |
||||||||||||||||||
|
1) Date and
description of instrument creating the change |
Agreement of
hypothecation of goods and assets dated 24.03.2005 Letter regarding
the grant of individual limit dated 24.03.2005 Memorandum of
deposit for creation of charge for term dated 24.03.2005 |
||||||||||||||||||
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 45.000
millions |
||||||||||||||||||
|
3) Short particular
of the property charged. If the property acquired is subject to charge, date
of the acquired of the property should be given |
Hypothecation of
suzlon s64 – 1250 wind turbine generators with accessories Creation of
equitable mortgage by deposited of title deeds of land properties of the
company |
||||||||||||||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The loan is
repayable installment |
||||||||||||||||||
|
5) Name and
Address and description of the person entitled to the charge. |
State Bank of |
||||||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
Not Applicable |
||||||||||||||||||
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Not Applicable |
|
Corporation identity number or foreign company registrations number of
the company |
U14102TZ1990PLC002722 |
|
Name of the company |
GTP GRANITES
LIMITED |
|
Address |
4/36, |
|
This Form is for |
Creation of Charge |
|
Type of Charges |
Immovable Property, Movable property (not being pledge) |
|
Particular of the charge holder
|
Lakshmi Vilas Bank Limited |
|
Nature or description of the instrument creating charge |
Letter of Hypothecation dated 05.12.2006 F. No. 548 dated 05.12.2006 |
|
Date of the instrument creating charge |
05.12.2006 |
|
Amount Secure by the charge |
Rs. 15.681 millions |
|
Brief of the principal terms and conditions and extent and operation
of the charge |
a)
Rate
of Interest: 16.5% b)
Terms
of Repayment: Repayment of Demand c)
Margin: 25% d)
Extent
and operation of the charge That the goods described in general terms in the schedule hereto which
have already been stored in the premises at 4/36, Bharathi Street,
Swarnapuri, Salem and the goods which shall hereafter be stored in the said
premises or in any other premises in addition to the goods now stored or by
way of substitution for and in lieu of any goods which may from time to time
have been withdraw, are hereby hypothecated to the bank. |
|
Description of the property charge whether it is a charge on |
NA |
|
Modification charge Charge identification number of the charge to be modified |
NA |
|
Date of instrument modifying the charge |
NA |
|
Particulars of the Property charged
|
Granite Materials / Blocks Extension of equitable mortgage created on 10.03.1996 by deposit of
title deeds of 8.20 Acres of Factory land and buildings of the company
situated at 63/1C.63/2A,62/2F,62/2E,62/2D,62/2A and 62/2C at Vellakkalpatti,
Omalur Taluk, Salem District Extension of Equitable mortgage created on 03.03.1999 by deposit of
title deeds of 2.16 Acres of |
|
Name of the
company |
GTP GRANITES
LIMITED |
|
Presented By |
GTP GRANITES LIMITED, STATE BANK OF SIRUTHOZHIL BRANCH, |
|
1) Date and
description of instrument creating the change |
(All relate to
the same charge) |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Term loan Rs.
45.000 millions |
|
3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Hypothecation of
Suzlon s64 – 1250 Kw – Wind Turbine Generator with accessories. Creation of
equitable martgage by deposit of title deeds of landed properties of the
company situated at S F No. 182/2 (part) admeasuring 2.00 Acres in |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
-- |
|
5) Name and
Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying
the charge |
NA |
|
7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
NA |
Generic Names of
Principal Product/Service of the company is as under:
|
Products |
Model |
Material |
|
|
|
|
|
Book |
B001 |
Granite |
|
Book |
B002 |
Granite |
|
Book |
TWC 22 |
Granite |
|
Decorative Arts |
TWC 25 |
Granite |
|
Decorative Arts |
TWC 26 |
Granite |
Website
details are attached herewith
Way back in 1989
GTP Granites Limited was started by the enterprising entrepreneur Sri. S.
Muthurajan with a vision to make available the finest granite stone monuments
to the rest of the world. All three of their factories are located in
Subject has three
modern Plants equipped with the state-of-art machineries from Pellegrini,
Thibaut and Van Voordan. They have large wire saws, circular saws, auto
polishers, edge cutters and manual polishing machines. Their material handling
equipment has the capacity of 50 Tons and they have complete power back up
system with self generation capacity for uninterrupted power supply. they have
their own quarrying equipments such as excavators, tippers, jet burnners, wire
saws, compressors and drillers.
Subject also
manufactures ita own abrasives, such as sawing segments, polishing bricks, Dia
sheets, buffing plates, etc. and has its R & D facilities for constant
improvements. With sophisticated logistic support system their own transport
vehicles carry the blocks from the quarries to the factories and finished goods
from the factory to the ports. GTP is a fully integrated company that has all
the facilities in every shere of monuments production.
It will not be an
exaggeration if they say that GTP is one company that can deliver anything in monuments.
Whether it is simple designed cemetery marker or very complicated public
utility project, they can handle them all with ease and versatility. From a
still born child memorials project in
When it comes to
quarrying and Sourcing of Raw Material, they adopt a four pronged strategy:
Ř
GTP
gets some of the finest black and Colour granite materials from its own
quarries.
Ř
GTP
also receives some material from its leased quarries from the Government and
Private Companies.
Ř
GTP
also buys its raw material requirements from various quarry owners and leases.
Ř
GTP
imports very popular materials such as Labrador Blue, Emerald Green, Balmoral
Red, Hamstead, Nero Impala, Olive Green Etc., from countries like
It takes years to
carve a reputation in stone, and yet GTP has achieved it in a matter of a
decade. Today GTP enjoys an enviable reputation throughout the world and has
bagged many a prestigious award since it's inception in 1989. For more than a
decade GTP has been receiving the coveted CAPEXIL export awards which includes
special export awards consecutively for 9 years since 1995. GTP with its
traditional foresight and planning awaits a new century of goals, achievements
and fulfillments
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 41.57 |
|
|
1 |
Rs. 82.14 |
|
Euro |
1 |
Rs. 55.74 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
61 |
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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|