MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
YAMUNA INDUSTRIES LIMITED |
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Registered Office : |
6/C, Hosekote Industrial Area, Chokkahalli Village Kasaba Hobli,
Hoskote, Bangalore, Karnataka-562115 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.05.2001 |
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Com. Reg. No.: |
55-111054 |
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CIN No.: [Company
Identification No.] |
U18101DL2001PLC111054 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELY00394C |
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PAN No.: [Permanent
Account No.] |
AAACY1419N |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacture and Exporters of Synthetic Technical Monofilaments and Industrial Yarns. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 300000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well established and reputed company. Its profitability is
improving and expected to wipe-off previous losses, soon. Trade relations are
fair. Payments are made regularly as reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION
DECLINED BY
|
Name : |
Ms. Sandhya |
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Date : |
07.05.2008 |
LOCATIONS
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Registered Office/ Factory : |
6/C, Hosekote Industrial Area, Chokkahalli Village Kasaba Hobli,
Hoskote, Bangalore, Karnataka-562115 |
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Tel. No.: |
91-80-27971540/41/42/43/44 |
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E-Mail : |
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Website : |
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Corporate Office : |
B – 96, Sector 60, Gautam Budh Nagar, Noida – 201301, Uttar Pradesh |
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Tel. No.: |
91-120-2586311/2586312 |
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Fax No.: |
91-120-2586313/2586314 |
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E-Mail : |
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DIRECTORS
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Name : |
Mr. Naresh Mittal |
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Designation : |
Managing Director |
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Address : |
F-572, Sarita Vihar, New Delhi-110044 |
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Date of Birth/Age : |
11.04.1964 |
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Date of Appointment : |
30.05.2001 |
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Name : |
Mrs. Deepika Mittal |
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Designation : |
Director |
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Address : |
F-572, Sarita Vihar, New Delhi-110076, Delhi, India |
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Date of Birth/Age : |
06.02.1970 |
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Date of Appointment : |
30.05.2001 |
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Name : |
Mr. Sanjay Mittal |
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Designation : |
Director |
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Address : |
F-572, Sarita Vihar, New Delhi-110044 |
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Date of Birth/Age : |
23.10.1968 |
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Date of Appointment : |
30.05.2001 |
KEY EXECUTIVES
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Name : |
Mr. Yogesh Kumar |
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Designation : |
Secretary |
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Address : |
1870/14, Govind Puri Extension, New Delhi |
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Date of Appointment : |
10.06.2004 |
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Date of Ceasing: |
10.07.2004 |
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Name : |
Mr. Navneet Gupta |
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Designation : |
Secretary |
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Address : |
758/13, Ekta Nagar, Roorki Road, Meerup (Uttar Pradesh) |
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Date of Appointment : |
24.06.2005 |
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Date of Ceasing: |
02.08.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on12.08.2005
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Names of Shareholders |
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No. of Shares |
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Naresh Mittal |
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4347800 |
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Sanjay Mittal |
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100 |
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Deepika Mittal |
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651700 |
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Parveen Mittal |
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100 |
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Kamal Mittal |
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100 |
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Kirti Mittal |
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100 |
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Babita Mittal |
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100 |
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Total |
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5000000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or Relatives of Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture and Exporters of Synthetic Technical Monofilaments and Industrial Yarns. |
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Products : |
v Polyester Monofilaments v Polyamide Monofilaments v Polypropylene Monofilaments v Polyamide 6/66 Monofilaments v Polyphenylene Sulphide Monofilaments v Polyamide – 12 v Polybutylene Terephthalate |
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Brand Names : |
‘Monotech’ |
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Exports : |
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Countries : |
Europe |
GENERAL
INFORMATION
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No. of Employees : |
95 |
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Bankers : |
v State Bank of India, Okhala Industrial Estate, New Delhi-110020, Delhi, India v Punjab National Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Rakesh Garg and Associates Chartered Accountant |
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Address : |
214, South Ex Plaza-I, 389, Masjid Moth, NDSE-II, New Delhi, India |
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Name : |
Vineet Agarwal Chartered Accountant |
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Address : |
Saxena and Saxena Chartered Accountant, 18/12, W.E.A. Karol Bagh, New
Delhi, Delhi-110005, India |
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Associates/Subsidiaries : |
Yamuna International |
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Year of Establishment: |
1972 |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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8000000 |
Equity Shares |
Rs. 10/- each |
Rs 80.000 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 |
80.000 |
80.000 |
50.000 |
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2] Share Application Money |
7.500 |
35.202 |
81.658 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[10.381] |
[19.415] |
[29.171] |
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NETWORTH |
77.119 |
95.787 |
102.487 |
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LOAN FUNDS |
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1] Secured Loans |
87.416 |
80.374 |
87.561 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
87.416 |
80.374 |
87.561 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
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TOTAL |
164.535 |
176.161 |
190.048 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
127.493 |
134.670 |
140.963 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
16.250 |
17.610 |
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 |
11.464
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15.298 |
28.363 |
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Sundry Debtors |
7.963
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13.849 |
29.181 |
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Cash & Bank Balances |
2.089
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4.433 |
4.180 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
2.002
|
1.938 |
3.463 |
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Total
Current Assets |
23.518
|
35.518 |
65.187 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.491
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10.271 |
14.068 |
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Provisions |
0.290
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1.476 |
2.200 |
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Total
Current Liabilities |
2.781
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11.747 |
16.268 |
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Net Current Assets |
20.737
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23.771 |
48.919 |
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MISCELLANEOUS EXPENSES |
0.055 |
0.110 |
0.166 |
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TOTAL |
164.535 |
176.161 |
190.048 |
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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 |
46.360 |
48.926 |
71.718 |
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Other Income |
36.266 |
44.694 |
26.127 |
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Total Income |
83.626 |
93.620 |
97.845 |
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Profit/(Loss) Before Tax |
9.190 |
10.026 |
[15.274] |
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Provision for Taxation |
-- |
-- |
-- |
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Profit/(Loss) After Tax |
9.190 |
10.026 |
[15.274] |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
2.897 |
3.325 |
0.000 |
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Salaries, Wages, Bonus, etc. |
5.242 |
8.372 |
11.130 |
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Managerial Remuneration |
0.000 |
0.000 |
0.000 |
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Payment to Auditors |
0.028 |
0.029 |
0.028 |
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Interest |
12607 |
11.383 |
10.989 |
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Insurance Expenses |
0.265 |
0.168 |
0.000 |
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Power & Fuel |
0.000 |
0.000 |
8.532 |
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Depreciation & Amortization |
7.286 |
7.446 |
7.412 |
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Other Expenditure |
46.110 |
52.872 |
19.288 |
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Total Expenditure |
74.436 |
83.594 |
113.119 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
10.99
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10.71 |
15.61 |
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Net Profit Margin (PBT/Sales) |
(%) |
19.82
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20.49 |
21.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.09
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5.89 |
7.41 |
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Return on Investment (ROI) (PBT/Networth) |
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0.12
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0.10 |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.17
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0.96 |
1.01 |
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Current Ratio (Current Asset/Current Liability) |
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8.46
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3.02 |
4.00 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
YAMUNA INDUSTRIES
LIMITED |
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Presented By |
State Bank of
India, Okhla Industrial Estate, New Delhi- 20 |
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1) Date and description of instrument creating the change |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.500
Millions as follows:-
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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 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest term loan 13.60%
cash Credit 13.85% p.a., Export Preshipment Credit 8.00% Margin Fixed Assets-39%, Stocks-25%, Book
Debts-30% Repayment of Term
Loan in 24 Quarterly instalments w.e.f.01.10.2003 of Rs. 2.400 Millions each
for First six Quarter, Rs. 3.500 Millions for Next Sixteen Quarters and
Balance of Rs. 7.000 Millions on 01.04.2009 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India, Okhla Industrial Estate, New Delhi-20 |
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6) Date and brief description of instrument modifying the charge |
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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. |
Previous Modifications:-
Present Modification: The various
credit facilities of Rs. 115.000 Millions in further collaterally secured by
way of Equitable Mortgage of Factory Land and Building situated at Industrial
Plot No. 6C, Hoskote Industrial Area, Banglore including all Building super
structure, Fixed Machinery and Plant Fixture and fittings thereat. Other terms and
conditions remains same. |
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 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.43.15 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.68.10 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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47 |
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 |
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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 |
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