MIRA
INFORM REPORT
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Report Date : |
05.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
COLOUR ROOF (INDIA) LIMITED |
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Registered Office : |
B-1/1, Mayour Ma-Krupa Co-operative Housing Society, Off Gokhale School, Shimpoli Road, Borivali (West), Mumbai – 400 092, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of Incorporation : |
17.05.2000 |
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Com. Reg. No.: |
11-126598 |
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CIN No.: [Company
Identification No.] |
U27200MH2000PLC126598 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
MUMC08057A |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Subject is engaged in manufacturing, processing, machining, pressing, forging, grinding, designing and fabricating of all types of metal components shapes, section, profiles, structures, whether ferrous or non-ferrous for building whether commercial or residential, industrial sheds, industrial structures, chemical plants, power plants, cement plants, petrochemical plants, oil refineries and other types of plants including manufacturing of roof & wall cladding profiles, decking profiles made out of galvanised steel, pre-coated galvanised steel, plain galvalume steel sheets, pre-coated galvalume steel sheets, copper, zinc, aluminium, pre-coated aluminium coils or sheets of any other type of ferrous or non-ferrous metals, cold rolled, etc. |
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 1377000 |
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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. Directors are reported as experienced and respectable businessmen. Trade relations are fair. Business is active. Payments are correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
B-1/1, Mayour Ma-Krupa Co-operative Housing Society, Off Gokhale School, Shimpoli Road, Borivali (West), Mumbai – 400 092, Maharashtra, India |
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Tel. No.: |
91-22-26904411 (Hunting Line) |
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Fax No.: |
91-22-28991854 |
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E-Mail : |
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Website : |
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Corporate Office : |
B- 601, Elegant Business Park, MIDC Road Number 2, J B Nagar, Andheri (East), Mumbai- 400059 |
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Tel. No.: |
91-22-40957000 (Hunting Line) |
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Fax No.: |
91-22-40957100 |
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E-Mail : |
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Factory 1 : |
J – 16, MIDC, Opp. Indal Taloja, Dist. Raigad, Maharashtra, India |
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Tel. No.: |
91-22-27402236 / 2227 / 27414229 / 27904229 |
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Fax No.: |
91-22-27411821 |
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Factory 2 : |
Plot No. C-26/27, Sipcot Industrial Growth Centre, Perundarai – 638052, District – Erode, Tamil Nadu, India |
DIRECTORS
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Name |
Mr. Kishore Laxmidas Thakkar |
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Designation |
Director |
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Address |
143,144,145, Vasukamal Tower Co-operative Housing Society Limited, Devidas Extension Road, Borivali (West) , Mumbai – 400103 |
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Date of Birth |
05.10.1937 |
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Date of Appointment |
17.05.2000 |
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Name |
Mr. Sushila Kishore Thakkar |
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Designation |
Director |
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Address |
143,14thfloor, Vasukamal Tower Co-operative Housing Society Limited, Devidas Extension Road, Borivali (West) , Mumbai – 400103, Maharashtra, India |
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Date of Birth |
21.07.1937 |
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Date of Appointment |
18.11.2004 |
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Name |
Mr. Bhavin Kishore Thakkar |
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Designation |
Director |
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Address |
1401, 14th floor, Raghunath Towers Co-operative Housing Society, Devidas Extension Road, Borivali (West), Mumbai – 400103, Maharashtra, India |
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Date of Birth |
26.06.1964 |
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Date of Appointment |
17.05.2000 |
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Name |
Mr. Jubin Kishore Thakkar |
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Designation |
Director |
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Address |
143,14th floor, Vasukamal Tower Co-operative Housing Society Limited, Devidas Extension Road, Borivali (West) , Mumbai – 400103, Maharashtra, India |
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Date of Birth |
12.09.1970 |
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Date of Appointment |
17.05.2000 |
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Name |
Mr. Natarajan Ramani |
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Designation |
Director |
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Address |
Flat No. 3, Candheep 25, Raghavaiah Road, T Nagar, Chennai 600017, Tamilnadu, India |
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Date of Birth |
18.12.1950 |
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Date of Appointment |
13.02.2007 |
KEY EXECUTIVES
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Name |
Mr. B.V. Ram |
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Designation |
General Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Sushila K. Thakkar |
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211414 |
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Mr. Bhavin K. Thakkar |
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305020 |
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Mr. Jubin K. Thakkar |
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595220 |
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Mrs. Manisha B. Thakkar |
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278894 |
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Mrs. Parul J. Thakkar |
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158894 |
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Mr. Mayank Rameshchandra Mayank |
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20 |
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Master Anuj Bhavin Thakkar |
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7500 |
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Baby Miloni Bhavin Thakkar |
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7500 |
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Master Viraj Jubin Thakkar |
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7500 |
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Mrs. Sheela Sabastian Thoppil |
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15000 |
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Amzel Infotech Private Limited |
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668000 |
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Boral Infotech Private Limited |
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630000 |
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Tanjore Trade Place Private Limited |
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479000 |
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Pre-Feb Dwelling Private Limited |
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60000 |
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Santoor Impex Private Limited |
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315312 |
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KLT Automotive and Tubular Products Limited |
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60000 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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16.92 |
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Other top fifty shareholders |
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83.08 |
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Total |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Subject is engaged in manufacturing, processing, machining, pressing, forging, grinding, designing and fabricating of all types of metal components shapes, section, profiles, structures, whether ferrous or non-ferrous for building whether commercial or residential, industrial sheds, industrial structures, chemical plants, power plants, cement plants, petrochemical plants, oil refineries and other types of plants including manufacturing of roof & wall cladding profiles, decking profiles made out of galvanised steel, pre-coated galvanised steel, plain galvalume steel sheets, pre-coated galvalume steel sheets, copper, zinc, aluminium, pre-coated aluminium coils or sheets of any other type of ferrous or non-ferrous metals, cold rolled, etc. |
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Products : |
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PRODUCTION STATUS
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Particulars |
Unit |
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Installed
Capacity |
Actual
Production |
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Metal Profiles, Shapes and Sections |
MT |
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30000 |
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Steel Profiles [Trapezoidal and Corrugated] and sections |
MT |
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5701 |
GENERAL
INFORMATION
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Customers : |
Ř Era Constructions India Limited, New Delhi (Colour Roof India Limited Deckspan) Ř Hindustan Steelworks Constructions Limited (Deck and Cladding) Ř Alstom Power India Limited, Kolkata (Colour Coated Galvalume) Ř Hindustan Steelworks Constructions Limited (Deck and Cladding)
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No. of Employees : |
About 30 |
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Bankers : |
Ř
Bank of
India Andheri Corporate
banking Branch, MDI Building, 1st floor, 28, S. V. Road, Andheri
{West], Mumbai 400 058 Ř
Maharashtra State Financial Corporation Ř
Indian Bank Ř
Corporation
Bank IFB Branch, Bharat
House, Bombay Samachar Marg, Fort, Mumbai - 400001 |
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Facilities : |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
Surya Associates Chartered Accountants |
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Address : |
103, Deepika, Plot No. 37, Gokhale Road, Dahanukar Wadi,
Kandivali, Mumbai – 400067, Maharashtra, India |
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Parent Company : |
ç Thakkarsons Auto Ancillary India Limited - C – 3/14, Jeevan Sindhu, Jeevan Bima Nagar, Borivali (West), Mumbai – 400 103, India Tel. No.: 91-22-8953908 - Manufacturers of tubular chassis for cars and MUVs, E R W Pipes and Galvanised Sheets - Paid-Up Capital Rs. 49.200 millions - Annual Turnover Rs. 297.100 millions - Net Worth Rs. 122.500 millions |
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Memberships : |
National Roofing Contractors Association, USA |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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11000000 |
Equity Shares |
Rs. 10/- each |
Rs. 110.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10799274 |
Equity Shares |
Rs. 10/- each |
Rs. 107.992 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
107.992 |
82.993 |
37.992 |
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2] Share Application Money |
0.000 |
0.000 |
18.350 |
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] Reserves & Surplus |
236.293 |
131.086 |
24.749 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
344.285 |
214.079 |
81.091 |
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LOAN FUNDS |
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1] Secured Loans |
433.168 |
313.146 |
271.456 |
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2] Unsecured Loans |
81.074 |
77.106 |
50.427 |
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TOTAL BORROWING |
514.242 |
390.252 |
321.883 |
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DEFERRED TAX LIABILITIES |
31.551 |
17.175 |
10.077 |
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TOTAL |
890.078 |
621.506 |
413.051 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
488.122 |
465.822 |
87.124 |
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Capital work-in-progress |
5.224 |
1.547 |
197.353 |
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INVESTMENT |
18.132 |
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 |
350.039 |
179.495 |
136.876 |
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Sundry Debtors |
189.486 |
63.637 |
47.554 |
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Cash & Bank Balances |
69.048 |
28.654 |
22.900 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
91.062 |
47.162 |
17.487 |
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Total
Current Assets |
699.635
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318.948 |
224.817 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
303.107 |
158.485 |
93.168 |
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Provisions |
19.338 |
7.286 |
3.115 |
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Total
Current Liabilities |
322.445
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165.771 |
96.283 |
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Net Current Assets |
377.190 |
153.177 |
128.534 |
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MISCELLANEOUS EXPENSES |
1.410 |
0.960 |
0.040 |
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TOTAL |
890.078 |
621.506 |
413.051 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
905.199 |
438.253 |
378.410 |
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Other Income |
5.381 |
0.003 |
0.000 |
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Total Income |
910.580 |
438.256 |
378.410 |
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Profit/(Loss) Before Tax |
66.123 |
37.525 |
24.892 |
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Provision for Taxation |
-- |
-- |
6.891 |
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Profit/(Loss) After Tax |
66.123 |
37.525 |
18.001 |
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Earnings in Foreign Currency : |
108.743 |
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--- |
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Total Imports |
-- |
-- |
283.228 |
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Expenditures : |
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Raw Material Consumed |
658.653 |
297.059 |
268.952 |
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Manufacturing Expenses |
0.000 |
0.000 |
7.064 |
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Excise Duty |
0.000 |
0.000 |
42.355 |
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Purchases made for re-sale |
0.000 |
0.000 |
0.000 |
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Consumption of stores and spares parts |
5.196 |
1.662 |
0.000 |
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Increase/(Decrease) in Finished Goods |
[42.074] |
[32.560] |
[12.652] |
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Salaries, Wages, Bonus, etc. |
31.408 |
12.086 |
7.339 |
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Managerial Remuneration |
3.000 |
2.760 |
0.000 |
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Payment to Auditors |
0.200 |
0.155 |
0.000 |
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Interest |
66.350 |
20.949 |
15.229 |
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Insurance Expenses |
1.949 |
0.468 |
0.000 |
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Directors remuneration |
0.000 |
0.000 |
2.400 |
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Power & Fuel |
28.994 |
2.756 |
0.000 |
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Depreciation & Amortization |
25.804 |
6.538 |
4.072 |
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Other Expenditure |
64.977 |
88.858 |
18.759 |
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Total Expenditure |
844.457 |
400.731 |
353.518 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
7.26
|
8.56 |
4.75 |
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Net Profit Margin (PBT/Sales) |
(%) |
7.30
|
8.56 |
6.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.56
|
4.78 |
7.97 |
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Return on Investment (ROI) (PBT/Networth) |
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0.19
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0.17 |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.43
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2.59 |
5.15 |
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Current Ratio (Current Asset/Current Liability) |
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2.16
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1.92 |
2.33 |
LOCAL AGENCY FURTHER
INFORMATION
Fixed Assets:
Ř
Land
Ř
Building
Ř
Pant and Machinery
Ř
Electrical Installation
Ř
Furniture and Fittings
Ř
Office Equipments
Ř
Vehicles
1. CONTINGENT LIABILITIES
- Custom duty on capital goods imported under Export Promotion Capital Goods [EPCG] scheme, against which export obligation is to be fulfilled Rs. 43.966 Millions
- Guarantees furnished by Company’s bankers on behalf of the Company Rs. 12.779 Millions
- Dispute sales tax matter in appeal Rs. 0.566 Millions
2. a] Term Loans from financial institution and Bank for Rs. 24.250 Millions are secured by way of Equitable mortgage of land and building and hypothecation of plant and machinery and the other movable assets [subject to prior charge in favour of the Company’s bankers for working capital limits], of the Company’s situated at Taloja and is further secured by way of personal guarantee of the two directors. The above loans are pari passu inter-se.
b] Term loans from banks for Rs. 148.443 Millions are secured by way of equitable mortgage of land and building and hypothecation of plant and machinery and the other movable assets [subject to prior change in favour of the Company’s bankers for working capital limits] of the Company’s situated at Khopoli and is further secured by way of personal guarantee of the tow directors. The above loans are pari passu inter –se.
c] Term Loan from banks for Rs. 11.485 Millions is secured by way of hypothecation of machineries purchased there against.
d] Working capital from banks is secured by way of hypothecation of stocks and book debts of the Company and is further secured by way of second charge over the fixed assets of the company situated at Taloja and personal guarantee of the two directors.
e] Vehicle loans are secured by way of hypothecation of motor cars purchased there against.
3. The Exchange fluctuation Loss of Rs. 0.210 Million on acquisitions of Fixed Assets have been capitalized in the respective Fixed Assets accounts. The Net Exchange Fluctuation Gain Rs. 1.370 Millions on other accounts has been included under the respective head of account in the profit and loss account for the year.
Form 8
Bankers Charges
Report as per Registry
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Name of the company |
COLOUR ROOF (INDIA) LIMITED |
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1) Date and description of instrument creating the change |
Agreement of
Equitable mortgage or mortgage of property by depositing the title deeds for
immovable properties dated 28th August, 2006 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs 810.524
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 |
Equitable
mortgage or mortgage of property by depositing the title deeds for immovable
properties |
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4) Name and Address and description of the person entitled to the charge. |
Bank of India
Consortium Andheri Corporate
Banking Branch M.D. I. Building, 28,S.V.Road, Andheri (West), Mumbai –
400058, Maharashtra, India |
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5) Date and brief description of instrument modifying the charge |
28.08.2006 |
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Name of the
company |
COLOUR ROOF (INDIA) LIMITED |
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Presented By |
BANK OF INDIA ANDHERI CORPORATE BANKING
BRANCH, ANDHERI (WEST), MUMBAI – 400058 |
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1) Date and description
of instrument creating the change |
Hypothecation cum
loan agreement of plant and machinery, stocks and book debts dated 27.01.2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 14.000
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 |
1] Hypothecation
of all tangible movable machineries and plant (both present and future) such
as oven extension, smart control system, tension leveler and incinerator
system whether installed or not and whether lying loose or at sight or in
transit ar acquired subsequently or which may at any time during the
continuance of this security being installed or lying loose or in case or
being in or upon or about the borrower’s premises, godowns at Taloja. 2] Hypothecation
of all tangible movable properties, assets, stock whatsoever nature of the
borrower (both present and future) and including but without prejudice to the
generality of the forgoing all the stocks in process of the borrower
wheresoever situate at Taloja. 3] All the
present and future book debts, outstanding moneys receivables, claims, bills
which are now due or which may at any time or hereafter during the continuance
of this security become due and owing to the borrower. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest will be
charged @ 1.25% p.a. over BPLR rate with a minimum @ 12%p.a. shall be charged
at Monthly rests. 1] Limits covered Term Loan $s.
14.000 Millions 2] Term loan III
to be repaid 20 Quarterly installments of Rs 0.700 Millions each commencing
from quarter ending December 2005. 3] The charge
shall rank pari passu among participating bank i.e. Queens Road branch, and
Corporation Bank, IFB Fort, Mumbai vide their letter dated 25.01.2005 and
19.01.2005 respectively (Copy enclosed) |
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5) Name and
Address and description of the person entitled to the charge. |
Bank of India Andheri Corporate
Banking Branch, MDI Building, 1st
Floor, 28, S V Road, Andheri (West), Mumbai – 400058 |
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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 |
COLOUR ROOF (INDIA) LIMITED |
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Presented By |
JOINTLY BY COMPANY AND CHARGE HOLDER |
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1) Date and description
of instrument creating the change |
Dated 22.09.2004 Memorandum deed
of Hypothecation of movable machinery and plant to secure term loan (all the above
agreement constitute a single charge) |
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2) Amount secured by
the charge/amount owing on the securities of charge |
Rs. 110.000
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 |
Charge (present and
f future ) in favour of the bank for the due repayment by the company to the
bank on demand at any time payable by the company to the bank for the
aforesaid credit facility. Hypothecation and
charges by way of first pari passu charge to and in favour of the banks all
movable machinery and plant acquired by way of balancing equipments together
with all accessories, stores and spares relating thereto, now belonging to or
hereafter to belong to the borrower (both present and future) and whether
installed or not and whether lying loose or in case or which may at any time
hereafter during the continuance of this security be installed or lying
whether loose or in case or being in or upon or about the borrowers at plot
no 42/4, 42/4c, 44/1a,44/1b, 44/2,
44/3b, 44/4, 45/1 at village dhekhu, taluka khalpur district raigad in the
state of maharashtra or wherever else the same may be or in case of transit
to the borrower. EMG of all that
piece of land situated at plot no. 42/4, 42/4c, 44/1a,44/1b, 44/2, 44/3b, 44/4,
45/1, AD measuring 1.94 hector or 194.400 square meters within village
dhekhu, taluka khalapur, district raigad, with all building and structure
their on and the all plant and machinery attached to the earth or parmently
fastened to anything attached to the earth.
|
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|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Rate of Interest
12.50%p.a. subject to change corporation bank term loan repayable in 20 quarterly
installments, other terms and conditions as per agreement attached and as per
sanction letter of the bank. |
||||||
|
5) Name and
Address and description of the person entitled to the charge. |
Corporation Bank IFB Branch,
Bharat House, Bombay Samachar Marg, Fort, Mumbai - 400001 |
||||||
|
6) Date and brief description of instrument
modifying the charge |
N.A. |
||||||
|
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. |
|
Name of the
company |
COLOUR ROOF (INDIA) LIMITED |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
JOINTLY BY COMPANY AND CHARGE HOLDER |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and description
of instrument creating the change |
1] Working
capital consortium agreement dated 16th September, 2002. 2] Joint deed of
hypothecation dated 16th September, 2002. 3] Inter se
agreement dated 16th September, 2002. (these three
agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
All and singular
borrower’s stock of raw materials, semi-finished goods, stores and spares not
relating to the plant and machinery (consumables stores and spares ) , bills
receivables, book debts and all other movable of the borrower (excluding such
movables as are permitted by the said bank from time to time ) but including
documents of title to goods and other assets, such as outstanding moneys,
receivables, including receivables by way of cash assistance and /or cash
including under the cash incentive scheme or any other scheme , claims by way
of refund of customs / excise duties the duty drawback credit scheme or any
other scheme bills, invoices, documents, contracts, engagements, securities,
investments and right both present and future, of the borrower being and
lying in the borrower’s premises or godowns. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest @ 4%
over PLR rate with a minimum 16% p.a. Limits Covered
Charge shall rank
Pari Passu amongst participating banks. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and
Address and description of the person entitled to the charge. |
1] Bank of India Andheri Corporate
Banking Branch Andheri (West),
Mumbai – 400058 2] Indian Bank Kambliwadi,
Tejpal Raod, Vile Parle (East), Mumbai |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
1] third
supplement working capital consortium agreement dated 27.10.2004 2] third
supplement joint deed of hypothecation dated 27.10.2004 (these two
agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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. |
By above
supplement agreement dated 27.10.2004. hypothecation on stocks and book debts
has now interchanged of various credit facilities granted by the bank
detailed as under
·
Interest @ 2.25%
p.a. over BPLR rate with a minimum of 12% p.a. for bank of India and interest
@ 4%p.a. over BPLR rate with a minimum of 15 % p.a. for Indian bank shall be
charged.
Earlier charge
was modified on
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name of the
company |
COLOUR ROOF (INDIA) LIMITED |
|
Presented By |
BANK OF INDIA ANDHERI CORPORATE BANKING
BRANCH, ANDHERI (WEST), MUMBAI – 400058 |
|
1) Date and description
of instrument creating the change |
Hypothecation cum
loan agreement of plant and machinery, stocks and book debts dated 27.01.2005 |
|
2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 14.000
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 |
1] Hypothecation
of all tangible movable machineries and plant (both present and future) such
as oven extension, smart control system, tension leveler and incinerator
system whether installed or not and whether lying loose or at sight or in
transit ar acquired subsequently or which may at any time during the
continuance of this security being installed or lying loose or in case or
being in or upon or about the borrower’s premises, godowns at Taloja. 2] Hypothecation
of all tangible movable properties, assets, stock whatsoever nature of the
borrower (both present and future) and including but without prejudice to the
generality of the forgoing all the stocks in process of the borrower
wheresoever situate at Taloja. 3] All the
present and future book debts, outstanding moneys receivables, claims, bills
which are now due or which may at any time or hereafter during the continuance
of this security become due and owing to the borrower. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest will be
charged @ 1.25% p.a. over BPLR rate with a minimum @ 12%p.a. shall be charged
at Monthly rests. 1] Limits covered Term Loan $s.
14.000 Millions 2] Term loan III
to be repaid 20 Quarterly installments of Rs 0.700 Millions each commencing
from quarter ending December 2005. 3] The charge
shall rank pari passu among participating bank i.e. Queens Road branch, and
Corporation Bank, IFB Fort, Mumbai vide their letter dated 25.01.2005 and
19.01.2005 respectively (Copy enclosed) |
|
5) Name and
Address and description of the person entitled to the charge. |
Bank of India Andheri Corporate
Banking Branch, MDI Building, 1st
Floor, 28, S V Road, Andheri (West), Mumbai – 400058 |
|
6) Date and brief description of instrument
modifying the charge |
Supplement
Hypothecation cum loan agreement dated 10.02.2005 |
|
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. |
By supplement
hypothecation cum loan agreement dated 10.02.2005. hypothecation of plant and
machinery, stocks and book debts has now increased from Rs 14.000 Millions to 50.000 Millions to secure additional term
loan facility of Rs 36.000 Millions as under : (Rs. In
Millions) Limits Covered Existing Limit Modified Limit Term Loan Rs 14.000 Rs 50.000
|
|
Name of the
company |
COLOUR ROOF (INDIA) LIMITED |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Presented By |
JOINTLY BY COMPANY AND CHARGE HOLDER |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
1) Date and
description of instrument creating the change |
1] Working
capital consortium agreement dated 16th September, 2002. 2] Joint deed of
hypothecation dated 16th September, 2002. 3] Inter se agreement
dated 16th September, 2002. (these three
agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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 |
All and singular
borrower’s stock of raw materials, semi-finished goods, stores and spares not
relating to the plant and machinery (consumables stores and spares ) , bills
receivables, book debts and all other movable of the borrower (excluding such
movables as are permitted by the said bank from time to time ) but including
documents of title to goods and other assets, such as outstanding moneys,
receivables, including receivables by way of cash assistance and /or cash
including under the cash incentive scheme or any other scheme , claims by way
of refund of customs / excise duties the duty drawback credit scheme or any other
scheme bills, invoices, documents, contracts, engagements, securities,
investments and right both present and future, of the borrower being and
lying in the borrower’s premises or godowns. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
4) Gist of the terms
and conditions and extent and operation of the charge. |
Interest @ 4%
over PLR rate with a minimum 16% p.a. Limits Covered
Charge shall rank
Pari Passu amongst participating banks. |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
5) Name and
Address and description of the person entitled to the charge. |
1] Bank of India Andheri Corporate
Banking Branch Andheri (West),
Mumbai – 400058 2] Indian Bank Kambliwadi,
Tejpal Raod, Vile Parle (East), Mumbai |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
6) Date and brief description of instrument
modifying the charge |
1] second
supplement working capital consortium agreement dated 28.04.2004 2] third
supplement joint deed of hypothecation dated 28.04.2004 (these two
agreement together constitute a single charge) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
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. |
By above
supplement agreement dated 28.04.2004. hypothecation on stocks and book debts
has now increased from Rs 99.000 Millions to 153.100 Millions to secure
varius credit facilities granted by the bank detailed as under
·
Interest @
4% p.a. over PLR rate with a minimum of 14.75% p.a. for bank of India and for
Indian Bank interest @ 15%p.a. shall be charged.
Earlier charge
was modified on
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
This Form is for |
Creation of charge |
|
Charge identification
number of the charge to be modified |
NA |
|
Corporate
identity number of the company |
U27200MH2000PLC126598 |
|
Name of the
company |
COLOUR ROOF (INDIA)
LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
B-1/1, Mayour Ma-Krupa Co-operative Housing Society, Off Gokhale School, Shimpoli Road, Borivali (West), Mumbai – 400 092, Maharashtra, India |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Barclays Bank PLC
Mumbai Branch –
801//808 Ceejay House, Shivsagar Estate, Dr. A Beasant Road, Worli, Mumbai
400018, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
hypothecation |
|
Date of instrument
Creating the charge |
12.10.2007 |
|
Amount secured by
the charge |
Rs. 70.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
Interest Rate of Interest
as may be stipulated by Bank from time to time and agreed in writing by the
Company. [b] Terms of
Repayment Term Loan to be
repaid in four years and nine months from the first drawdown with a
moratorium period of nine months.
From the 4th Quarter, Quarterly installments of INR 4 mio
per quarter for next 13 Quarters [i.e. upto 16th Quarter] For 17th,
18th and 19th Quarter installment of INR 6 mio per
quarter. [c] Margin As may be
stipulated by bank from time to time and agreed in writing by the Company [d] Extend and
operation of the charge Hypothecation by
way of first charge on all the fixed movable assets of the company as
particularly described in Column No. 14 for the repayment of Rs, 70.000
Millions and all other amounts due and payable by the Company to the Bank. [e] Others The hypothecated
assets shall be the continuing security for payment of the facility with all
interest and all other monies due to the Bank and any future loans provided
by the Bank. This Deed and the
security herein shall terminate only upon payment in full of all amounts due
under the finance documents payable by the Borrower to the Bank. |
|
Short particulars
of the property charged |
First charge on
all the movable properties of the Company, present and future including
without limitation its movable plant and machinery, machinery spares, tools
and on all accessories and other movables. |
|
Date of latest
modification prior to the present modification |
NA |
|
Particulars of
the present modification |
NA |
|
Name of the company |
COLOUR ROOF (INDIA)
LIMITED |
|
Presented By |
Bank of India Andheri Corporate
banking Branch, Andheri {West], Mumbai 400 058 |
|
1) Date and description of instrument creating the change |
Hypothecation cum Loan Agreement of Plant and Machinery, Stocks and
Book Debts dated 13.05.2005 |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 6.500
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
all tangible movable machineries and plant[both present and future] whether
installed or not and whether lying loose or at site or in transit or acquired
subsequently or which may at any time during the continuance of this security
being installed or lying loose or in cases or being in or upon or about the
Borrower’s premises, godowns at Taloja, Karjat and Navi Mumbai. Or wherever else the same may be or be
held by any party anywhere to the order and disposition of the borrower or in
the course of transit to borrower. Hypothecation of
all tangible movable properties, assets, stocks whatsoever nature of the
Borrower [both present and future] and including but without prejudice to the
generality of the foregoing all stocks and raw materials such as colour water
roof and finished goods and semi finished goods, spare parts, components
[including spare parts and stores relating to plant and machinery both present
and future] and stocks in process of the borrower wheresoever situate at
Taloja, Karjat and Navi Mumbai All the present
and future Book Debts, outstanding moneys receivables, claims, bills which
are now due and owing or which may any time or hereafter during the
continuance of this security become due and owing to the borrower. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
Interest will be
charged @ 3.25% p.a. above BPLR rate with a minimum @ 14% p.a. shall be charged
at monthly rests. Limits covered Cash credit Rs.
6.500 Millions |
|
5) Name and Address and description of the person entitled to the
charge. |
Bank of India Andheri Corporate
banking Branch, MDI Building, 1st floor, 28, S. V. Road, Andheri
{West], Mumbai 400 058 |
|
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 |
HISTORY
Subject was incorporated on 17th May 2000 at Mumbai in Maharashtra having Company Registration Number 126598.
Subject was promoted by Thakkarsons Auto Ancillary India Limited (TAAL), a company that has, in span of only seven years, established itself as a BENCHMARK organisation in the development and manufacture of tubular chassis for cars and MUVs.
TAAL has been the first and to date the only chassis manufacture in India to adopt, install and institute the AUTOPHOTORETIC coating process or the prevention of corrosion on chassis.
The company is born out of the conviction that metal cladding, being a chief contributor to this wastage and loss, needs a new dimension and users must be given the choice of better and cost effective alternatives for their cladding.
The company is backed by technical resources in cladding and fixing from USA, Singapore, U.K. and Australia.
The company has stepped into this scenario as an organisation dedicated to coated steel and coloured steel sheeting. The company now offers the wide range of quality-coloured roofing and side cladding, with complete creative freedom to match the roofs to the colour of the vision.
The superior appearance and excellent performance of the company's colour coated steel sheets allows to the company's roofing visible. With a wide variety of panel widths and seam effects, it offers the company's opportunity to use roofs as a design feature of the company's plan rather than just an element that is meant to keep out water from the structure.
The company seeks to set up benchmark standard in CRM (Customer Relation Management) in India through innovative customer support integrated with its ERP system. Constant updates with live process views will be available against orders at the company's Website. The status of orders-position of manufacture, despatch and even despatch details shall be made available over the telephone through 24 hours for those without access to the web. Enabling technology is already under implementation. Pre-sales service includes providing dedicated interactive software (to all registered users of the company's products) for quick, trouble-free and accurate calculation for the sizes and quantities of sheet with feeding of few key data.
Such training for the company is not limited to "does and don'ts" in literature only. The company is the only roofing manufacturer in India to had become a member of the National Roofing Contractors Association (NRCA), USA.
The superior appearance and excellent performance of the company’s colour coated steel sheets allows roofing visible with a wide range of panel widths and seam effects.
Subject is the only company in India today dedicated exclusively to cladding and is the most focussed organisation in cladding profiles.
The company’s metal claddings are available in a variety of profiles and formations for use in commercial, industrial or residential structures. It is having wide variety of factory-applied coatings colours.
The company has set up state-of-art manufacturing facilities to deliver the range and quality roofing solutions. This is backed by a commitment to develop and maintain efficient customer support.
The company offers a wide range of quality-coloured roofing and side cladding.
It offers modern and international current profiles in colour coated steel with materials sourced from India and foreign manufacturers of pre-coated sheets. It offers separate sheets for roof and side cladding in widths that cover more than any other contemporary product in India. It also offers pre-formed accessories in complete range.
It is in trade terms with:
· BHP Steel, Australia
· Bethlehem Steel Corporation (BIEC), USA
Its products range include:
· Polyester Colour
· Galvalume Aluminium-Zinc Alloy Coated Steel
· Super Polyester Colour
· BHP Zincalume
· Colorbond
· Sidings
· Standard Accessories
The company’s installed capacity of metal profiles, shapes and sections is 21000 MT per annum and its production of steel profiles (Trapezoidal and Corrugated) and Sections was 2025 MT during the year under report.
During the year under report the company had achieved turnover of Rs. 75.922 millions slowly and steadily the company has penetrated all geographical region of the country, with the network of trusted dealers, brands, officers and authorised management, representatives are putting their efforts for increasing the turnover and profitability of the company. In the first year of its commercial production, the company had made very well presence in the International market. The corrugated roofing sheets had been exported to various international markets. The company has exported its production in UAE, West African and Latin American Countries. The country expects a quantum jump in the turnover for the next year.
The company’s fixed assets of important value includes land & site development, building, plant & machinery, electrical installation, furniture & fittings, office equipments and vehicles.
About Colour Roof [India] Ltd. (CRiL):
The Genesis
Colour Roof India Limited is the only company in India today dedicated exclusively to manufacture of roof and wall cladding profiled sheets, and is the most customer focussed organisation in cladding profiles.
Colour Roof India Limited has been promoted by KLT Automotive and Tubular Products Limited, a company that has, in span of only seven years, established itself as a BENCHMARK organisation in the development and manufacture of tubular chassis for cars and MUVs. KLT Automotive and Tubular Products Limited has been the first, and, to date, the only chassis manufacture in India to adopt, install and institute the AUTOPHORETIC coating process for the prevention of corrosion on chassis. KLT Automotive and Tubular Products Limited is also the trendsetter in use of advanced robotics in the assembly and welding of chassis, as well as being the first chassis manufacture in India to set and attain QS 9000 process certification for its assembly and manufacture of tubular chassis.
KLT Automotive and Tubular Products Limited firmly believes
that it has a role and responsibility in arresting the colossal resource
wastage and National loss of over Rs.10000 Millions that occurs due to
corrosion in steel every year.
Colour Roof India Limited is born out of the conviction that metal cladding,
being a chief contributor to this wastage and loss, needs a new dimension and
users must be given the choice of better and cost effective alternatives for
their roof and wall cladding.
Colour Roof India Limited is backed by technical resources in cladding and
fixing from USA, Singapore, UK and Australia.
Colour Roof India Limited - Values
Colour Roof India Limited - The Freedom to Choose
Colour Roof India Limited - Business Policy and Objectives
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 |
|
US Dollar |
1 |
Rs. 39.32 |
|
UK Pound |
1 |
Rs. 77.53 |
|
Euro |
1 |
Rs. 57.91 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
|