MIRA
INFORM REPORT
|
Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MY
HOME INDUSTRIES LIMITED |
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Formerly Known As : |
MY
HOME CEMENT INDUSTRIES LIMITED |
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Registered Office : |
6-3-865,
4th Floor, My Home Jupally, Ameerpet Road, Green Lands, Hyderabad-500016 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.09.1984 |
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Com. Reg. No.: |
01-4951 |
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CIN No.: [Company
Identification No.] |
U26942AP1984PLC004951 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDM01472C |
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PAN No.: [Permanent
Account No.] |
AABCM9480C |
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Legal Form : |
Closely
held Public Limited Liability Company |
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Line of Business : |
Manufacturers
of Portland Cement |
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
5500000 |
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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 and reputed company having fine track. Directors are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are usually correct and as per
commitments. The
company can be considered good for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
6-3-865,
4th Floor, My Home Jupally, Ameerpet Road, Green Lands,
Hyderabad-500016, India |
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Tel. No.: |
91-40-23408032/34,
23401038, 23401041 |
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Fax No.: |
91-40-23401271 |
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E-Mail : |
cs@myhomegroup.in,myhome@hd2.dot.net.in, hd2_myhome@sancharnet.in |
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Website : |
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Factory
1 : |
Srinagar,
Mellacheruvu (Village and Mandal), Koda (Taluq), Nalgonda District, Andhra
Pradesh, India |
DIRECTORS
|
Name : |
Mr. J.
Rameswar Rao |
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Designation : |
Chairman
and Managing Director |
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Address : |
Flat
No.406, Manjari Apartments, 6-3-102, Somajiguda, Hyderabad-500016, Andhra
Pradesh, India |
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Date of Birth/Age : |
16.09.1955 |
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Date of Appointment : |
30.09.1998 |
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Name : |
Mr. K.
V. Kesava Rao |
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Designation : |
Director |
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Address : |
298,
UB Colony, R.D. No.7, Banjara Hills, Hyderabad, Andhra Pradesh, India |
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Date of Birth/Age : |
10.07.1937 |
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Date of Appointment : |
16.03.1996 |
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Name : |
Mr. J.
Jagapathi Rao |
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Designation : |
Director |
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Address : |
Flat No.407,
My Home Hill View Apartments, Raj Bhavan, Hyderabad, Andhra Pradesh, India |
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Date of Birth/Age : |
05.04.1962 |
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Date of Appointment : |
29.07.1996 |
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Name : |
Mr. N.
Raghunath |
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Designation : |
Director |
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Address : |
Flat
No.407, J.B. Apartments, Domalguda, Hyderabad-500029, Andhra Pradesh, India |
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Date of Birth/Age : |
22.10.1953 |
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Date of Appointment : |
01.01.1992 |
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Name : |
Mr. B.
Kamalaker Rao |
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Designation : |
Director |
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Address : |
507,
Bandari Residency, Uma Nagar, Kundan Bagh, Begumpet, Hyderabad-500016, Andhra
Pradesh, India |
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Date of Birth/Age : |
27.03.1949 |
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Date of Appointment : |
29.09.1999 |
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Name : |
Mr.
Adiyeri Vayalambron Sunil |
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Designation : |
Director |
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Address : |
Falr
No.21, Vikas Sadan, 11-4-623/A, AC Guards, Hyderabad-500004, Andhra Pradesh,
India |
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|
Name : |
Mr.
Tanjore N. Vidyasagar |
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Designation : |
Director
(IIBI Nominee) |
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Address : |
6D,
Block –E, Triveni Complex, Abids, Hyderabad-500001, Andhra Pradesh, India |
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Date of Birth/Age : |
07.11.1952 |
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Date of Appointment : |
04.07.2001 |
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Name : |
Mr. S.
Sambsiva Rao |
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Designation : |
Director |
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Address : |
116,
My Home Madhuban Apartments, Srinagar Colony, Ameerpet, Hyderabad-500016,
Andhra Pradesh, India |
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Date of Birth/Age : |
15.07.1951 |
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Date of Appointment : |
07.08.1999 |
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Name : |
Mr.
Vidya Sagar Narang |
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Designation : |
Director |
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Address : |
Plot
No.133, Jyothi Colony, Near AOC Gate, Secunderabad-500015, Andhra Pradesh,
India |
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Date of Birth/Age : |
29.03.1944 |
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Date of Appointment : |
07.08.1999 |
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Name : |
Mr. D.
R. Jawahar |
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Designation : |
Director
(IDBI Nominee) |
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Name : |
Mr.
Krishnedu Banerjee |
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Designation : |
Director |
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Address : |
Flat
No.11, Vikassadan, 11-4-623/A, Acguards Bazar Ghat, Hyderabad-500004, Andhra
Pradesh, India |
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Date of Birth/Age : |
29.12.1960 |
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Date of Appointment : |
17.08.2001 |
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Date of Ceasing : |
13.09.2002 |
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Name : |
Mr.
Jayanta Kumar Ghosh |
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Designation : |
Director |
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Address : |
304,
Vamsi Paradise, 73, Dharam Karam Road, Ameerpet, Hyderabad-500016, Andhra
Pradesh, India |
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Date of Birth/Age : |
01.06.1948 |
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Date of Appointment : |
28.07.2003 |
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Date of Ceasing : |
05.07.2004 |
KEY EXECUTIVES
|
Name
: |
Mr.
Gutti Tirupathi Rao |
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Designation
: |
Company
Secretary |
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Address
: |
Flat
No.407, Block –I, Sri Sai Ram Gardens, G 139, Madhura Nagar,
Hyderabad-500038, Andhra Pradesh, India |
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Date
of Birth/Age : |
01.10.1961 |
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Date
of Appointment : |
13.06.2001 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
Percentage of Holding |
|
Dr. J.
Rameshwar Rao (HUF) |
343300 |
0.505 |
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Mr. J.
Srikumari |
241250 |
0.355 |
|
Mr. M.
Sampath Rao |
90900 |
0.134 |
|
Mr. J.
Sri Devi |
55000 |
0.081 |
|
Mr. J.
Srinivas Rao |
14700 |
0.022 |
|
Dr. J.
Rameshwar Rao |
658650 |
0.969 |
|
Mr. J.
Jagapathi Rao |
516400 |
0.760 |
|
Mr. N.
Raghunath |
21000 |
0.031 |
|
My
Home constructions Private Limited |
24116974 |
35.487 |
|
My
Home Estates Private Limited |
15568000 |
22.907 |
|
J. R.
Leasing & Finance Private Limited |
4916459 |
7.234 |
|
Madhubala
Investment Private Limited |
2855136 |
4.201 |
|
J.B.M.
Resorts Private Limited |
1420000 |
2.089 |
|
Vinod
Real Estates Private Limited |
1118300 |
1.646 |
|
J.B.M.
Exports Private Limited |
1028900 |
1.514 |
|
Vinod
Real Estates Private Limited |
1026800 |
1.511 |
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J.B.M.
Gardens Private Limited |
955000 |
1.405 |
|
J.B.M.
Agros International Private Limited |
820000 |
1.207 |
|
Zenith
Financial |
550000 |
0.809 |
|
Alpha
Financial Services Private Limited |
50000 |
0.074 |
|
Mr. J.
Premila |
110400 |
0.162 |
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Mr.
Srinivas Raola |
49600 |
0.073 |
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Mr. K.
Ramakrishna Reddy |
41000 |
0.060 |
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Mr.
Pullapanula Kameswari |
30000 |
0.044 |
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Mr.
Pullapanula Ramadhanwantar |
30000 |
0.044 |
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Mr. K.
Nagabhushna Rao |
17700 |
0.026 |
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Mr. S.
Muralidhar Rao |
15000 |
0.022 |
|
Mr.
Ijaya L. Dasary |
10600 |
0.016 |
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Mr. P.
Jaganmohan Reddy |
165750 |
0.244 |
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Mr. J.
Vekat Rao |
144900 |
0.213 |
|
Mr.
VAsudeva Rao |
111350 |
0.164 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Portland Cement |
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Products : |
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GENERAL
INFORMATION
|
Bankers : |
Industrial Development Bank of India Limited, IDBI Tower, WTC Complex Cuffe Parade, Mumbai-400005, Maharashtra, India E-Mail : n.pprakash@idbi.co.in Industrial
Investment Bank of India Limited IFCI
Limited State Bank of India, Industrical Finance Branch, Somajiguda, Hyderabad Oriental Bank of Commerce, 1st Floor, My Home Jupally, Ameerpet Road, Greenlands, Hyderabad. Andhra
Bank, Specialised Corporate Finance Branch, 6-3-648,
Padmaja Land Mark, Somajiguda, Hyderabad-500082, Andhra Pradesh, India Indian Overseas Bank, M.G. Road, Secunderabad Corporation Bank, No.3-6-285, Ground Floor, Ameer Mahal Apartments, Hyderguda, Hyderabad-500029, Andhra Pradesh, India E-Mail : cb276@corpbank.co.in |
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Banking Relations : |
Satisfactory |
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Auditors : |
R. K.
Reddy & Associates Chartered
Accountants |
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Address : |
Flat
No.C-806, 11-4-646, Vijaya Hills, A.C. Guards, Hyderabad-500004, Andhra
Pradesh |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
70000000 |
Equity
Shares |
Rs.10/- each |
Rs.700.000 millions |
|
1000000 |
Preference
Shares |
Rs.10/- each |
Rs.100.000 millions |
|
|
Total |
|
Rs.800.000
millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
50870381 |
Equity
Shares |
Rs.10/- each |
Rs.508.704 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
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1] Share Capital |
|
508.704 |
679.804 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
888.349 |
732.882 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
1397.053 |
1412.686 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1058.323 |
760.462 |
|
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2] Unsecured Loans |
|
717.369 |
385.840 |
|
|
TOTAL BORROWING |
|
1775.692 |
1146.302 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
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|
|
|
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TOTAL |
|
3172.745 |
2558.988 |
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APPLICATION OF FUNDS |
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|
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FIXED ASSETS [Net Block] |
|
2235.990 |
1858.746 |
|
|
Capital work-in-progress |
|
304.789 |
8.810 |
|
|
|
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INVESTMENT |
|
146.710 |
154.883 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
238.420 |
183.126 |
|
|
Sundry Debtors |
|
78.558 |
125.897 |
|
|
Cash & Bank Balances |
|
34.905 |
18.063 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
381.649 |
295.880 |
|
Total Current Assets |
|
733.532 |
622.966 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
172.414 |
49.387 |
|
|
Provisions |
|
90.339 |
54.113 |
|
Total Current Liabilities |
|
262.753 |
103.500 |
|
|
Net Current Assets |
|
470.779 |
519.466 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
14.477 |
17.083 |
|
|
|
|
|
|
|
|
TOTAL |
|
3172.745 |
2558.988 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other income] |
|
2853.344 |
2239.998 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
247.182 |
424.411 |
|
Provision
for Taxation |
|
61.738 |
183.582 |
|
Profit/(Loss)
After Tax |
|
185.444 |
240.829 |
|
|
|
|
|
|
Total
Expenditure |
|
2606.162 |
1815.587 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
6.50 |
10.75 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
8.66 |
18.95 |
|
|
|
|
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|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
8.32 |
17.10 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
0.18 |
0.30 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
1.03 |
0.88 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
2.79 |
6.02 |
LOCAL AGENCY
FURTHER INFORMATION
Form
8 Particular for creation or modification of charges
|
Corporation identity number or foreign company registrations number of the company |
U26942AP1984PLC004951 |
|
Name of the company |
MY
HOME INDUSTRIES LIMITED |
|
Address |
4th
Floor, My Home Jupally, Ameerpet Road, Green Lands, Hyderabad-500016,
India |
|
This Form is for |
Creation
of Charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Corporation Bank No.3-6-285, Ground Floor, Ameer Mahal Apartments, Hyderguda, Hyderabad-500029, Andhra Pradesh, India E-Mail : cb276@corpbank.co.in |
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Nature or description of the instrument creating charge |
Common Deed of Hypothecation of Movables/ Assets/ Debts |
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Date of the instrument creating charge |
20.05.2006 |
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Amount Secure by the charge |
Rs.100.000 millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Rate of Interest 9.50%p.a. Terms of Repayment : Repayable within one year from the date of release or on completion of IPO whichever is earlier |
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Description of the property charge whether it is a charge on |
Immovable Properties Plant and Machinery Furniture and Fixtures Vehicles |
|
Particulars of the Property charged |
Pari passu second charge on the fixed assets of the company situated at Srinagar, Mallacheruvu (Village and Mandal), Kodad Taluq, Nalgonda District, Andhra Pradesh |
|
Corporation identity number or foreign company registrations number of the company |
U26942AP1984PLC004951 |
|
Name of the company |
MY
HOME INDUSTRIES LIMITED |
|
Address |
4th
Floor, My Home Jupally, Ameerpet Road, Green Lands, Hyderabad-500016,
India |
|
This Form is for |
Modification
of Charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
State Bank of India Industrial Finance Branch Raj Bhavan Road, Somajiguda Hyderabad Andhra Pradesh-500082, India |
|
Amount Secure by the charge |
Rs.224.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Exclusive first charge on the fixed assets of proposed captive power plant and second charge on the current assets of the Company along with other second charge holders on pari-passu basis. Rate of Interest – 2.25% below SBAR, with a minimum of 8.00% p.a. at monthly rests. Terms of repayment – Repayable in 24 quarterly instalments of Rs.9.30 millions each commencing from 31.03.2007. |
|
Description of the property charge whether it is a charge on |
Immovable Properties |
|
Particulars of the Property charged |
Immovable properties of the Company viz. land admeasuring 73 Acres and 19.5 Guntas and 19.5 Guntas and land admeasuring 53 Acres and 28 Guntas situated at Srinagar, Me |
|
Corporation identity number or foreign company registrations number of the company |
U26942AP1984PLC004951 |
|
Name of the company |
MY
HOME INDUSTRIES LIMITED |
|
Address |
4th
Floor, My Home Jupally, Ameerpet Road, Green Lands, Hyderabad-500016,
India |
|
This Form is for |
Creation
of Charge |
|
Type of Charges |
Hypothecation |
|
Particular of the charge holder |
Andhra Bank Specialised Corporate Finance Branch, 6-3-648, Padmaja Land Mark, Somajiguda Hyderabad-500082, Andhra Pradesh India |
|
Nature or description of the instrument creating charge |
Complete Agreement for Hypothecation of assets of the company |
|
Date of the instrument creating charge |
19.08.2006 |
|
Amount Secure by the charge |
Rs.150.000 |
|
Brief of the principal terms and conditions and extent and operation of the charge |
Rate of Interest: 9.50% p.a. (BMPLR-1.75%+0.25%) Repayment – Repayable in 26 equal quarterly instalments, first instalment falls due on 01.09.2006 First charge on pari-passu basis with all existing first charge holders on all the immovable and movable assets of the company, both present and future (subject to exclusive charge on specific assets) Pari passu second charge on the current assets of the company |
|
Particulars of the Property charged |
Hypothecation of the whole of the movable properties of the company including its Plant and Machinery Spares, tools and accessories, both present and future situated at Mellacheruvu (village and Mandal), Kodad (Taluq), Nalonda District, Andhra Pradesh or at borrower’s factories, premises and godowns wherever else. |
|
Name of the company |
MY
HOME CEMENT INDUSTRIES LIMITED |
|
Presented By |
G. TIRUPATI RAO, COMPANY SECRETARY |
|
1) Date and description of instrument creating the change |
02.06.2001, Term Loan Agreement and Letter of Hypothecation. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Term Loan Rs.50.000 millions Foreign Letter of Credit Rs.46.800 millions Total Rs.96.803 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 |
First pari-passu charge on entire Block of Assets, Situated at Mcllacheru (V) Kodad (Tq) Nalagonda District Andhra Pradesh |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
To carry the Loans in 26 Quarterly installlments starting from October, 2003. Interest rate @16%p.a. First pari passu charge on Entire Block of Assets of the Company Repayable on Demand |
|
5) Name and Address and description of the person entitled to the charge. |
Indian Overseas Bank M.G. Road, Secunderabad |
|
6) Date and brief description of instrument modifying the charge |
22.10.2001, No instrument was executed a joint mortgage by deposit of title deeds was created by the company in favour of Indian Overseas Bank in respect of all the immovable properties of the company situated at Mellacheruvu Village, Kodad Tq., Nalgonda District in the state of Andhra Pradesh and more particularly described in the annexure attached hereto as security. |
|
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 Term Loan of Rs.50.000 millions together with interest, compound interest, additional interest liquidated damages, costs, charges, expenses and all other monies payable by the company to Indian Overseas Bank in terms of the said loan agreement which is secured by the said Letter of Hypothecation dated 02.06.2001, being the original charge is now also secured by the said joint mortgage by deposit of title deeds created by the company on 04.09.2001 in favour of Indian Overseas Bank, now also secured by the said joint mortgage by deposit of title deeds created by the company on 22.10.2001 in favour of Indian Overseas Bank. |
|
Corporation identity number or foreign company registrations number of the company |
U26942AP1984PLC004951 |
|
Name of the company |
MY
HOME INDUSTRIES LIMITED |
|
Address |
4th
Floor, My Home Jupally, Ameerpet Road, Green Lands, Hyderabad-500016,
India |
|
This Form is for |
Modification
of Charge |
|
Type of Charges |
Hypothecation Equitable mortgage or mortgage of property by depositing the title deeds |
|
Particular of the charge holder |
Industrial Development Bank of India Limited IDBI Tower, WTC Complex Cuffe Parade Mumbai-400005 Maharashtra, India E-Mail : n.pprakash@idbi.co.in |
|
Nature or description of the instrument creating charge |
|
|
Date of the instrument creating charge |
|
|
Amount Secure by the charge |
Rs.700.000 millions |
|
Brief of the principal terms and conditions and extent and operation of the charge |
The charge operates as security, inter alia, for the due repayment by the Company to IDBI of its Term Loan of Rs.0.007 millions sanctioned together with interest, additional interest, liquidated damages, premia on prepayment or on redemption, costs, charge, expenses and all other moneys payable by the Company to IDBI in terms of the said Loan Agreement. |
|
Description of the property charge whether it is a charge on |
Immovable Properties Plant and Machinery Furniture and Fixtures Stock in Trade Book Debts Vehicles |
|
Modification charge Charge identification number of the charge to be modified |
80009784 |
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Particulars of the Property charged |
The charge is by way of hypothecation of the whole of the movable properties of the Borrower including its plant and machinery, machinery spares, tools and accessories, both present and future, whether installed or not and whether now lying loose or in cases or which are now lying or stored in or about or shall hereafter from time to time during the continuance of these presents to be brought into or upon or to be in or about all the Borrowers factories, premises and godowns. |
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Brief Description of the instrument modifying the charge |
No instrument was executed. A mortgage by deposit of title deeds was created by the Company in favour of IDBI by depositing the title deeds with IDBI. |
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Particulars of the present modification |
A joint mortgage by deposit of title deeds by way of constructive delivery on the immovable properties of the company situated at Srinagar, Mellacheruvu Vilage, Kodad, Nalgonda District. |
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Name of the company |
MY
HOME CEMENT INDUSTRIES LIMITED |
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Presented By |
G. TIRUPATI RAO, COMPANY SECRETARY |
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1) Date and description of instrument creating the change |
09.09.1998 joint deed of Hypothecation executed by the company in favour of State Bank of India and Oriental Bank of Commerce. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Working Capital Limits of Rs.49.000 millions advanced by the State Bank of India, IF Branch, Hyderabad to the extent of Rs.26.500 millions and Oriental Bank of Commerce, Ameerpet Branch, , Hyderabad to the extent of Rs.22.500 millions (hereinafter referred to as “Lender”) |
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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 |
The whole of the immovable properties of the Company together with all the Buildings and structures thereon and all Plant and Machinery attached to the earth or permanently fastened to anything attached to the earth situated at Mellacheruvu Village and Mandal, Nalgonda District, Andhra Pradesh. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge shall operate as security, inter alia on second charge basis for the due repayment by the Company to the Lender for their Working Capital facility of Rs.49.000 millions The charge has been created by deposit of title deeds with IDBI. IDBI acting as agent of the Lenders. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India (SBI) Industrical Finance Branch, Somajiguda, Hyderabad Oriental Bank of Commercfe (OBC) 1st Floor, My Home Jupally, Ameerpet Road, Greenlands, Hyderabad. |
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6) Date and brief description of instrument modifying the charge |
22.10.2001, No instrument was executed. A joint mortgage by deposit of title deeds was created by the company in favour of State Bank of India and Oriental Bank of Commerce by depositing the title deeds with IDBI, IDBI acting for itself and as agent of State Bank of India and Oriental Bank of Commerce in respect of all the immovable properties of the company situated at Mellacheruvu Village, Kodad Tq., Nalgonda District in the state of Andhra Pradesh and more particularly described in the annexure attached hereto as security, inter alia, for the due repayment of discharge by the company to State Bank of India of its total working capital facilities of Rs.57.500 millions and Oriental Bank of Commerce of its total working capital facilities of Rs.57.500 millions |
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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. |
Total Working Capital facilities of Rs.115.000 millions (State Bank of India – Rs.26.500 millions + Additional Rs.31 millions) together with interest, compound interest, additional interest liquidated damages, costs, charges, expenses and all other monies payable by the company to State Bank of India and Oriental Bank of Commerce is now also secured by the said joint mortgage by deposit of title deeds created by the company on 04.09.2001 and also secured by the said joint mortgage by deposit of title deeds created by the company on 22.10.2001 in favour of State Bank of India and Oriental Bank of Commerce. |
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Name of the company |
MY
HOME CEMENT INDUSTRIES LIMITED |
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Presented By |
G. TIRUPATI RAO, COMPANY SECRETARY |
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1) Date and description of instrument creating the change |
19.11.2001, Term Loan Agreement and Hypothecation of movable machinery and security for advances and loans |
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2) Amount secured by the charge/amount owing on the securities of charge |
Term Loan Rs.70.000 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 |
Pari passu first charge on Fixed Assets present and future of the company situated at Mellacheruvu (V) Kodad (Tq) Nalgonda District, Andhra Pradesh |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To repay the Loans in 24 Quarterly instalments Interest rate@16%p.a. (PLR + 4% of Bank) Pledge of shares held by the promoters of Rs.407.800 millions on pari passu basis with other institutions/ banks |
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5) Name and Address and description of the person entitled to the charge. |
Andhra Bank Industrial Finance Branch, Pancom Business Centre, Ameerpet, X Road, Hydrerabad-500073 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
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Name of the company |
MY
HOME CEMENT INDUSTRIES LIMITED |
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Presented By |
G. TIRUPATI RAO, COMPANY SECRETARY |
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1) Date and description of instrument creating the change |
09.09.1998 joint deed of Hypothecation executed by the company in favour of State Bank of India and Oriental Bank of Commerce (hereinafter referred to as “the Lender”) |
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2) Amount secured by the charge/amount owing on the securities of charge |
The Working Capital Limits of Rs.45.000 millions together with interest, additional interest, liquidated damages, charges, expenses and all other moneys payable by the company to the /Lender in terms of the working capital agreement dated 09.09.1998. |
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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 |
The whole of the Current assets of the Borrower namely , Stocks of Raw Materials, Stocks in process, Semi-finished and Finished Goods, Stores and Spares not relating to Plant and Machinery (Consumable Stores and Spares), Bills receivable, Book Debts and all other movables both present and future whether now lying loose or in cases or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stores or be in about of the Borrower’s factories, premises and godowns situated at Mellacheruvu Village and Mandal, Nalgonda District, Andhra Pradesh or wherever else the same may be or be held by any party to the order or disposition of the Borrower or in the course of transit or on high seas or on order or delivery, however and wheresoever in the possession of the Borrower and either by way of substitution or addition. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge operates as security, inter alia for the due repayment by the Company to the Lender for their Working Capital facility of Rs.45.000 millions, together with interest, additional interest, liquidated damages, premia on prepayment or on redemption costs, charges, expenses and all other moneys payable by the company to the Lender in terms of the said Working Capital Agreement The Company has undertaken to keep the goods hypothecated in marketable and good condition as its own costs and to insure the sane in the joint names of the company and the Lender All the goods hypothecated and all the realizations and insurance proceeds thereof and all documents in respect of the said security are to be kept distinguishable and held as the exclusive property of the Lenders The security created under the said Joint Deed of Hypothecation is to be a continuing security. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India (SBI) Industrical Finance Branch, Somajiguda, Hyderabad Oriental Bank of Commerce (OBC) 1st Floor, My Home Jupally, Ameerpet Road, Greenlands, Hyderabad. |
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6) Date and brief description of instrument modifying the charge |
23.08.2002, Agreement of Hypothecation of Goods and Assets executed by the Company in favour of State Bank of India. |
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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. |
State Bank of India, Industrial Finance Branch, Hyderabad, enhanced their working capital limits from Rs.57.500 millions to Rs.87.500 millions. First charge on all current assets. Details of the limits are as follows :
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Name of the company |
MY
HOME CEMENT INDUSTRIES LIMITED |
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Presented By |
G. TIRUPATI RAO, COMPANY SECRETARY |
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1) Date and description of instrument creating the change |
09.09.1998 joint deed of Hypothecation executed by the company in favour of State Bank of India and Oriental Bank of Commerce (hereinafter referred to as “the Lender”) |
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2) Amount secured by the charge/amount owing on the securities of charge |
The Working Capital Limits of Rs.45.000 millions together with interest, additional interest, liquidated damages, charges, expenses and all other moneys payable by the company to the /Lender in terms of the working capital agreement dated 09.09.1998. |
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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 |
The whole of the Current assets of the Borrower namely , Stocks of Raw Materials, Stocks in process, Semi-finished and Finished Goods, Stores and Spares not relating to Plant and Machinery (Consumable Stores and Spares), Bills receivable, Book Debts and all other movables both present and future whether now lying loose or in cases or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stores or be in about of the Borrower’s factories, premises and godowns situated at Mellacheruvu Village and Mandal, Nalgonda District, Andhra Pradesh or wherever else the same may be or be held by any party to the order or disposition of the Borrower or in the course of transit or on high seas or on order or delivery, however and wheresoever in the possession of the Borrower and either by way of substitution or addition. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge operates as security, inter alia for the due repayment by the Company to the Lender for their Working Capital facility of Rs.45.000 millions, together with interest, additional interest, liquidated damages, premia on prepayment or on redemption costs, charges, expenses and all other moneys payable by the company to the Lender in terms of the said Working Capital Agreement The Company has undertaken to keep the goods hypothecated in marketable and good condition as its own costs and to insure the sane in the joint names of the company and the Lender All the goods hypothecated and all the realizations and insurance proceeds thereof and all documents in respect of the said security are to be kept distinguishable and held as the exclusive property of the Lenders The security created under the said Joint Deed of Hypothecation is to be a continuing security. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India (SBI) Industrical Finance Branch, Somajiguda, Hyderabad Oriental Bank of Commerce (OBC) 1st Floor, My Home Jupally, Ameerpet Road, Greenlands, Hyderabad. |
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6) Date and brief description of instrument modifying the charge |
21.06.2002, Joint Deed of Hypothecation executed by the Company in favour of State Bank of India, Oriental bank of Commerce and Andhra Bank |
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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. |
Andhra bank, Specialised Corporate Finance Branch, Ameerpet, Hyderabad was also sanctioned working capital limits of Rs.40.000 millions in addition to the existing Working Capital Limits of Rs..57.500 millions Sanctioned by the State Bank of India and Rs.57.500 millions sanctioned by Oriental Bank of Commerce. The aggregate working capital limits of the Company are as follows:
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Name of the company |
MY
HOME CEMENT INDUSTRIES LIMITED |
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Presented By |
G. TIRUPATI RAO, COMPANY SECRETARY |
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1) Date and description of instrument creating the change |
09.09.1998 joint deed of Hypothecation executed by the company in favour of State Bank of India and Oriental Bank of Commerce (hereinafter referred to as “the Lender”) |
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2) Amount secured by the charge/amount owing on the securities of charge |
The Working Capital Limits of Rs.45.000 millions together with interest, additional interest, liquidated damages, charges, expenses and all other moneys payable by the company to the /Lender in terms of the working capital agreement dated 09.09.1998. |
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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 |
The whole of the Current assets of the Borrower namely , Stocks of Raw Materials, Stocks in process, Semi-finished and Finished Goods, Stores and Spares not relating to Plant and Machinery (Consumable Stores and Spares), Bills receivable, Book Debts and all other movables both present and future whether now lying loose or in cases or which are now lying or stored in or about or shall hereinafter from time to time during the continuance of the security of these presents be brought into or upon or be stores or be in about of the Borrower’s factories, premises and godowns situated at Mellacheruvu Village and Mandal, Nalgonda District, Andhra Pradesh or wherever else the same may be or be held by any party to the order or disposition of the Borrower or in the course of transit or on high seas or on order or delivery, however and wheresoever in the possession of the Borrower and either by way of substitution or addition. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The charge operates as security, inter alia for the due repayment by the Company to the Lender for their Working Capital facility of Rs.45.000 millions, together with interest, additional interest, liquidated damages, premia on prepayment or on redemption costs, charges, expenses and all other moneys payable by the company to the Lender in terms of the said Working Capital Agreement The Company has undertaken to keep the goods hypothecated in marketable and good condition as its own costs and to insure the sane in the joint names of the company and the Lender All the goods hypothecated and all the realizations and insurance proceeds thereof and all documents in respect of the said security are to be kept distinguishable and held as the exclusive property of the Lenders The security created under the said Joint Deed of Hypothecation is to be a continuing security. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India (SBI) Industrical Finance Branch, Somajiguda, Hyderabad Oriental Bank of Commerce (OBC) 1st Floor, My Home Jupally, Ameerpet Road, Greenlands, Hyderabad. |
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6) Date and brief description of instrument modifying the charge |
16.09.2002, Joint Deed of Hypothecation executed by the Company in favour of State Bank of India, Oriental bank of Commerce, Andhra Bank and India Overseas Bank |
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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. |
Indian Overseas Bank, M.G. Road Branch, Secunderabad was also sanctioned working capital limits of Rs.40.000 millions in addition to the existing Working Capital Limits of Rs..57.500 millions sanctioned by the State Bank of India and Rs.57.500 millions sanctioned by Oriental Bank of Commerce and Rs.40.000 millions sanctioned by the Andhra Bank.. The aggregate working capital limits of the Company are as follows:
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CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
1] INFORMATION
ON DESIGNATED PARTY
No 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 |
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US
Dollar |
1 |
Rs.44.61 |
|
UK
Pound |
1 |
Rs.86.80 |
|
Euro |
1 |
Rs.57.54 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
9 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
62 |
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/normal. |
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 |
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