MIRA
INFORM REPORT
|
Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
SRIPATHI PAPER AND BOARDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1680/31, Raman’s Regency, Trichy Road, Ramanathapuram, Coimbatore-641045,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
19.11.2003 |
|
|
|
|
Com. Reg. No.: |
18-010851 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21012TZ2002PTC010851 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Kraft Paper and Duplex Board. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Tamilakgan |
|
Designation : |
Account Manager |
|
Date : |
13.12.2011 |
LOCATIONS
|
Registered Office : |
1680/31, Raman’s Regency, Trichy Road, Ramanathapuram,
Coimbatore-641045, Tamilnadu, India |
|
Tel. No.: |
91-422-4300445 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
994, Ramani’s Regency, 2nd Floor, Trichy Road,
Coimbatore-641045, Tamilnadu, India |
|
|
|
|
Factory 1 : |
Sukkiravarpatti, Sivakasi-626130, Tamilnadu, India |
|
Tel. No.: |
91-4562-238171 / 238117 / 238014 / 238049 |
|
Fax No.: |
91-4562-238147 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
SF No.297/2, 308/1, Rajan Nagar, Puduvadavalli, Sathyamangalam-638401,
Tamilnadu, India |
|
Tel. No.: |
91-4295-243463 |
|
Fax No.: |
91-4295-243473 |
DIRECTORS
AS ON 16.07.2010
|
Name : |
Mr. Krishnasamy Ramachandran |
|
Designation : |
Director |
|
Address : |
2/3, R K Gardens, Chandra Gandhi Nagar, Extension Sowripalayam Post,
Coimbatore-641028, Tamilnadu, India |
|
Date of Birth/Age : |
30.04.1961 |
|
Date of Appointment : |
19.11.2003 |
|
DIN No.: |
00251421 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21012TN2002PTC048995 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED (TRFD TO CBE) |
Director |
29-05-02 |
29-05-02 |
Not
Available for eFiling |
NO |
|
2 |
U51909TZ2003PTC010770 |
SINGLE
WINDOW COMMODITIES PRIVATE LIMITED |
Director |
11-09-03 |
11-09-03 |
Active |
NO |
|
3 |
U21012TZ2002PTC010851 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED |
Managing
director |
01-04-11 |
19-11-03 |
Active |
NO |
|
4 |
L67120TZ1995PLC005763 |
SINGLE
WINDOW SECURITIES LIMITED |
Managing
director |
01-10-09 |
01-10-04 |
Active |
NO |
|
5 |
U29120TZ2010PTC015883 |
K.R.S.
ENGINEERING INDIA PRIVATE LIMITED |
Director |
10-03-10 |
10-03-10 |
Active |
NO |
|
6 |
U02102TZ2005PTC011874 |
SUDIRMAN
PAPER PRIVATE LIMITED |
Director |
11-03-10 |
11-03-10 |
Active |
NO |
|
7 |
U74900TN2008NPL067185 |
SOUTH
INDIAN KRAFT PAPER MILLS ASSOCIATION |
Director |
28-09-11 |
28-09-11 |
Active |
NO |
|
Name : |
Mr. Ravichandran Krishnasamy |
|
Designation : |
Director |
|
Address : |
Old No.725/6 C, New No.350, Standard Colony, Thiruthangal, Sivakasi, Virudhunagar-626130,
Tamilnadu, India |
|
Date of Birth/Age : |
29.06.1963 |
|
Date of Appointment : |
19.11.2003 |
|
DIN No.: |
01120533 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U21012TN2002PTC048995 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED (TRFD TO CBE) |
Director |
19-08-02 |
19-08-02 |
- |
Not
Available for eFiling |
NO |
|
2 |
U21012TZ2002PTC010851 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED |
Managing
director |
01-04-11 |
19-11-03 |
- |
Active |
NO |
|
3 |
U74900TN2008NPL067185 |
SOUTH
INDIAN KRAFT PAPER MILLS ASSOCIATION |
Director |
30-09-10 |
03-03-10 |
28-09-11 |
Active |
NO |
|
4 |
U02102TZ2005PTC011874 |
SUDIRMAN
PAPER PRIVATE LIMITED |
Director |
11-03-10 |
11-03-10 |
- |
Active |
NO |
|
Name : |
Mr. Ragupatiiy Ayyappa |
|
Designation : |
Director |
|
Address : |
471 A, Vadakku Road, Veethi, Thiruthangal, Sivakasi,
Virudhunagar-626130, Tamilnadu, India |
|
Date of Birth/Age : |
11.02.1958 |
|
Date of Appointment : |
19.11.2003 |
|
DIN No.: |
01128755 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21012TN2002PTC048995 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED (TRFD TO CBE) |
Director |
19-08-02 |
19-08-02 |
Not
Available for eFiling |
NO |
|
2 |
U21012TZ2002PTC010851 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED |
Whole-time
director |
01-04-11 |
19-11-03 |
Active |
NO |
|
Name : |
Mr. Subbiah Alagamperumal |
|
Designation : |
Director |
|
Address : |
54, Azhagapuri, Virudhunagar-626005, Tamilnadu, India |
|
Date of Birth/Age : |
03.06.1960 |
|
Date of Appointment : |
19.11.2003 |
|
DIN No.: |
01240122 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21012TN2002PTC048995 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED (TRFD TO CBE) |
Director |
19-08-02 |
19-08-02 |
Not
Available for eFiling |
NO |
|
2 |
U21012TZ2002PTC010851 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED |
Director |
19-11-03 |
19-11-03 |
Active |
NO |
|
Name : |
Mr. Nagaraj Veerappan |
|
Designation : |
Director |
|
Address : |
1/18, Azhagapuri, Meesalur PO Virudhunagar-626003, Tamilnadu, India |
|
Date of Birth/Age : |
09.05.1962 |
|
Date of Appointment : |
19.11.2003 |
|
DIN No.: |
01240207 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U21012TN2002PTC048995 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED (TRFD TO CBE) |
Director |
19-08-02 |
19-08-02 |
Not
Available for eFiling |
NO |
|
2 |
U21012TZ2002PTC010851 |
SRIPATHI
PAPER AND BOARDS PRIVATE LIMITED |
Director |
19-11-03 |
19-11-03 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Tamilakgan |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 16.07.2010
|
Names of Shareholders |
No. of Shares |
|
K Ravichandran |
368870 |
|
R Krishnaswamy |
3592580 |
|
A Raghupathi |
82330 |
|
V Nagaraj |
265000 |
|
A Subbiah |
123400 |
|
K Chitrabanu |
3143000 |
|
Single Window Securities Limited, India |
205000 |
|
R Jayaprakash |
100000 |
|
R Rukmani |
25000 |
|
B Senthil Kumar |
52500 |
|
Hosur Mani |
43485 |
|
A Rajagopal |
54850 |
|
Ashok Rajgopal |
14230 |
AS ON 16.07.2010
|
Equity Shares Break
Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Kraft Paper and Duplex Board. |
|
|
|
|
Exports : |
|
|
Products : |
Paper and Board |
|
Countries : |
·
Srilanka ·
UAE |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
Srilanka |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 / 60 days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 / 60 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Power and Fuel Consumption |
TPA |
60800 |
59722 |
GENERAL INFORMATION
|
Customers : |
Dealers |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
600 (Approximately) |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Travancore, Coimbatore Main, 15,
SNV Ashirvad, State Bank Road, Coimbatore-641018, Tamilnadu, India |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bakthavachalam and Company Chartered Accountant |
|
Address : |
15/67 A, KG Layout, Bharathi Park, 8th Cross Saibaba
Colony, Coimbatore-641011, Tamilnadu, India
|
|
PAN No.: |
AADFB5331Q |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
100.000 |
77.219 |
70.000 |
|
|
2] Share Application Money |
23.032 |
26.440 |
32.142 |
|
|
3] Reserves & Surplus |
201.209 |
122.768 |
48.004 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
324.241 |
226.427 |
150.146 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
592.561 |
410.894 |
322.909 |
|
|
2] Unsecured Loans |
44.030 |
21.108 |
35.328 |
|
|
TOTAL BORROWING |
636.591 |
432.002 |
358.237 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
26.977 |
|
|
|
|
|
|
|
|
TOTAL |
960.832 |
658.429 |
535.360 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
454.493 |
411.476 |
404.128 |
|
|
Capital work-in-progress |
156.188 |
11.852 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
129.014
|
59.135 |
68.841 |
|
|
Sundry Debtors |
199.816
|
160.680 |
107.499 |
|
|
Cash & Bank Balances |
60.541
|
57.570 |
7.624 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
108.007
|
66.836 |
20.432 |
|
Total
Current Assets |
497.378
|
344.221 |
204.396 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
106.955
|
78.358 |
67.187 |
|
|
Other Current Liabilities |
24.292
|
23.902 |
2.490 |
|
|
Provisions |
16.100
|
6.940 |
3.607 |
|
Total
Current Liabilities |
147.347
|
109.200 |
73.284 |
|
|
Net Current Assets |
350.031
|
235.021 |
131.112 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.120 |
0.080 |
0.120 |
|
|
|
|
|
|
|
|
TOTAL |
960.832 |
658.429 |
353.360 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
1338.028 |
1174.390 |
798.020 |
|
|
|
Income from Windmill Operations |
23.962 |
11.553 |
3.311 |
|
|
|
Other Income |
1.815 |
1.930 |
0.851 |
|
|
|
Difference in Inventory |
8.959 |
0.646 |
4.216 |
|
|
|
TOTAL (A) |
1372.764 |
1188.519 |
806.398 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
1173.430 |
1039.202 |
702.150 |
|
|
|
TOTAL (B) |
1173.430 |
1039.202 |
702.150 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
199.334 |
149.317 |
104.248 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
55.140 |
52.914 |
39.843 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
144.194 |
96.403 |
64.405 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.653 |
41.676 |
36.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
94.541 |
54.727 |
27.481 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.427 |
11.325 |
9.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
65.114 |
43.402 |
18.360 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.506 |
0.104 |
29.644 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
40.000 |
47.900 |
|
|
BALANCE CARRIED
TO THE B/S |
68.620 |
3.506 |
0.104 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
75.076 |
21.111 |
22.626 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
331.938 |
281.202 |
210.969 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.51 |
5.62 |
2.62 |
|
Expected Sales (2011-2012) : Rs. 3000.000 Millions
The above information has been parted by Mr. Tamilakgan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.74
|
3.65 |
2.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.07
|
4.66 |
3.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.93
|
7.24 |
4.52 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.24 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.42
|
2.39 |
3.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.38
|
3.15 |
2.79 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
------- |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
No |
|
13. Reasons for variation <> 20% |
Yes |
|
14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
No |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
No |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
No |
|
28. Incorporation details, if applicable |
------ |
|
29. Last accounts filed at ROC |
------ |
|
30. Major Shareholders, if available |
------ |
REVIEW OF
OPERATIONS
The company has achieved a turnover of Rs. 1338.028 Millions as against
the turnover of Rs. 1174.390 Millions during the previous year, a solid growth of
about 14%. The Company has sustained its growth with significant improvements
all around, despite the fact that this growth was achieved with severe power
cut faced and steep rise in several input costs viz., raw materials, chemicals
etc.
The company has showed an increase in PBT about 73% by recording the PBT
of Rs. 94.541 Millions as against the previous year PBT of Rs. 54.727 Millions.
On the other hand the net profit for the year shows a growth of 50% by earning
PAT Rs. 65.114 Millions as against Rs. 43.402 Millions in the previous year.
FUTURE PROSPECTS
Power as are aware, is one of their basic raw materials. Considering
this the Company is installing a integrated 6 M.W capacity of co generation
plant and this plant is expected to commence its generation of power by
September, 2010.
The Company continues to attach great importance in the quality of its
products and in the pursuit for perfection in this direction is an ongoing
process.
The company is aware of the need for globalizing it’s business and as an
integral part of this goal, concentrates its efforts towards quality aspects of
the company’s core productivity departments, which enables the company to
confirm to international standards and making its products readily acceptable
in both domestic and international market.
Export of the company increased about 255% compared to earlier year,
more focus given to tap the potential international market in the years to
come.
CONTINGENT
LIABILITIES NOT PROVIDED FOR (AS ON 31.03.2010)
The company has opened Letter of credit in favour of various suppliers
for which the company is contingently liable for the sum of Rs. 56.572 millions
The company filed stay petition against the additional demand claimed by
the TNEB for which the company is contingently liable for the sum of Rs. 4.823
Millions
FORM 8
|
Corporate
identity number of the company |
U21012TZ2002PTC010851 |
|
Name of the
company |
SRIPATHI PAPER
AND BOARDS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
1680/31, Raman’s Regency, Trichy Road, Ramanathapuram, Coimbatore-641045, Tamilnadu, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
State Bank of Travancore, Coimbatore Main, 15, SNV Ashirvad, State
Bank Road, Coimbatore-641018, Tamilnadu, India |
|
Nature of
instrument creating charge |
Letter regarding
the grant of individual limits within the overall working capital limit |
|
Date of
instrument Creating the charge |
18.08.2011 |
|
Amount secured by
the charge |
Rs. 660.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest CC- 3.25% above
BR - Effective rate 13.50%, Stand Bye LC - 4% above BR - Effective rate 14%,
others as per extant instructions Terms of repayment Working capital
limits: on demand and renewable every
year subject to compliance sanction of terms and conditions of the
performance of the unit Margin Raw Materials -
20% Stock in Process
- 20% Finished Goods -
20% Book
Debts/Receivables - 20% (up to 120 days) Extent and operation of the charge The charge
operates as security for due repayment of the working capital facilities |
|
Short particulars
of the property charged (Including location of the property) |
1st pari passu
charge with IDBI Bank and SBI over entire current assets of the Company 2nd pari passu
charge with IDBI Bank over all the fixed assets of the company |
|
Charge
identification number of the charge to be modified |
10023498 |
|
Date of
instrument modifying the charge |
15.10.2010 |
|
Particulars of
the present modification |
Increase in the
Working capital limits to Rs.660.000 millions Particulars Rs millions 1.CC
350.000 2.Stand Bye Line
of Credit 50.000 3.EPC / FDBEP /
FBEP (100.000) 4. DBP
(Clean) (0.050) 5. Letter of
Credit 250.000 6. Bank
Guarantee 10.000 Total 660.000 |
FIXED ASSETS
·
Factory Land
·
Wind Mill
·
Factory Building
·
Borewell
·
Machinery
·
Computer
·
Furniture and Fixtures
·
Vehicles
·
Wind mill
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l Anti-Money
Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 53.57 |
|
|
1 |
Rs. 82.97 |
|
Euro |
1 |
Rs. 69.89 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.