MIRA
INFORM REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRATIBHA SYNTEX PRIVATE LIMITED |
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Registered
Office : |
301, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.10.1982 |
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Com. Reg. No.: |
11-118017 |
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CIN No.: [Company Identification
No.] |
U17111MH1982PTC118017 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Export of Cotton Yarn, Synthetic Yarn, Fabrics and
Knitting Fabrics. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10007000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 reported as fair. Business is active. Payments are reported to be usually
correct. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
301, |
|
Tel. No.: |
91-22-256921428 / 28361464 / 28314850 / 28314853 / 66921428/ 28314850 |
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Fax No.: |
91-22-28361464 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 1 : Unit : |
Plot No. 4, Industrial Growth Centre Kheda, Pitampur,
District Dhar - 454 774, |
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Tel. No.: |
91-7292-404362-64 / 404363 / 404357/ 413231 |
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Fax No.: |
91-7292-256340-1 |
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E-Mail : |
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Area : |
70 acres approx |
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Location : |
Leased |
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Factory 2: |
Sector 1, Pitampur PSL |
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Tel. No.: |
91-7292-4136031 |
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Factory 3: |
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Factory 4: |
Plot No. 16, DLF, Phase II, Near NHPC Chowk, |
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Tel. No.: |
91-129-4105728/ 4107318 |
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Fax No.: |
91-129-4107318 |
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Branch Office : |
D-10/3, Okhla Industrial Area, Phase-I, |
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Tel. No.: |
91-11-41616465, 26816790, 32449714 |
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Fax No.: |
91-11-41616480 |
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E-Mail : |
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Location : |
Rented |
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Branch Office : |
301, |
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Tel. No.: |
91-731-2562228-9 |
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Fax No.: |
91-731-2562227 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 10.08.2010
|
Name : |
Mr. Shiv Kumar Chaudhary |
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Designation : |
Chairman and Managing Director |
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Address: |
80-A, Manishpuri, Indore-452 018, |
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Date of Birth/ Age : |
28.08.1962 |
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Qualification : |
B. Com |
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Experience : |
39 Years |
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Date of Appointment: |
11.08.1992 |
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DIN No.: |
00071955 |
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Directorship in
other companies: |
Name of the
Company: Vikram Financial Services Limited Designation: Director CIN of Company: U65993WB1982PTC035564 Name of the
Company: India Denim Limited Designation: Director CIN of Company: U17110GJ2005PLC046159 Name of the
Company: Pratibha Green Technologies Private Limited Designation: Director CIN of Company: U01100MH2004PTC147289 |
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Name : |
Mr. Shreyaskar Chaudhary |
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Designation : |
Managing Director and Chief Executive Officer
|
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Address: |
80-A, Manishpuri, Indore-452 018, |
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Date of Birth/ Age : |
05.04.1976 |
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Qualification : |
B. Tech |
|
Experience : |
13 Years |
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Date of Appointment: |
26.02.2003 |
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DIN No.: |
00059059 |
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Name : |
Mr. Snehkar Bansal |
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Designation : |
Whole time Director |
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Address: |
58, Classic Purnima Raw House, Main
Khajrana Road, Indore-452 018, |
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Date of Birth/ Age : |
06.10.1949 |
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Date of Appointment: |
27.01.2004 |
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DIN No.: |
00058660 |
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Name : |
Mr. Aditya Goyal |
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Designation : |
Whole Time Director |
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Address: |
304-A, Apollo Enclave, 14/1 Palasia,
Indore-462 010, |
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Date of Birth/ Age : |
17.09.1976 |
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Date of Appointment: |
24.08.2004 |
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DIN No.: |
00080392 |
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Name : |
Mr. Vinod Kumar Jain |
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Designation : |
Whole Time Director |
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Address: |
Sujata Sarees, Hazoori Bazar, Faridkot – 151 203, |
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Date of Birth/ Age : |
10.10.1949 |
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Date of Appointment: |
29.12.2009 |
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DIN No.: |
02944575 |
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Name : |
Mr. Ram Kishan Sharma |
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Designation : |
Director |
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Address: |
306, Suryalok Apartment, Near |
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Date of Birth/ Age : |
07.07.1941 |
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Date of Appointment: |
10.06.1996 |
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DIN No.: |
00084971 |
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Name : |
Mr. Sanjay Sarkar |
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Designation : |
Director |
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Address: |
P-136, |
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Date of Birth/ Age : |
12.05.1944 |
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Date of Appointment: |
02.01.2003 |
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DIN No.: |
00108325 |
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Name : |
Mr. Mohan Munish |
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Designation : |
Director |
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Address: |
E-23, |
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Date of Birth/ Age : |
26.05.1965 |
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Date of Appointment: |
29.10.2008 |
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DIN No.: |
02448381 |
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Name : |
Mr. Jimmy Lachmandas Mahtani |
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Designation : |
Additional |
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Address: |
14, Leonie Hill Road, 22-14, Futura |
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Date of Birth/ Age : |
27.10.1976 |
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Date of Appointment: |
05.06.2007 |
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Date of Ceasing : |
00996110 |
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DIN No.: |
00996110 |
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Name : |
Mr. Asit Kumar Basu |
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Designation : |
Additional Director |
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Address: |
Plot No.61, Row House, Sector – 8, Kopar Khairane, Navi Mumbai – 400
709, |
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Date of Birth/ Age : |
24.08.1949 |
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Date of Appointment: |
16.07.2010 |
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DIN No.: |
01382260 |
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|
|
|
Name : |
Mr. Nihal Singh Nirban |
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Designation : |
Whole Time Director |
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Address: |
60, F.H. 8 Cheme No 54, Vijay Nagar,
Indore-452 013, |
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Date of Birth/ Age : |
18.01.1947 |
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Date of Appointment: |
28.08.2002 |
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Date of Ceasing : |
01.10.2009 |
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DIN No.: |
00059016 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Joshi |
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Designation : |
Secretary |
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Address : |
302, Rakhee, E-Wing, Vasant Utsav, |
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Date of Birth/Age : |
05.09.1962 |
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Date of Appointment : |
01.12.1994 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 10.08.2010
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Shiv Kumar Chaudhary |
|
701700 |
|
Shreyaskar
Chaudhary |
|
615330 |
|
S.K. Chaudhary and Sons (HUF) |
|
615282 |
|
Sushma Chaudhary |
|
2493370 |
|
Prerna Chaudhary |
|
1717050 |
|
Baring Private Equity Asia III |
|
1000 |
|
BRCM Holdings Private Limited, |
|
7501252 |
|
Darkin Commodeal Private Limited, |
|
3373627 |
|
Total
|
|
17018611 |
As on 10.08.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.01 |
|
Bodies
corporate |
|
63.90 |
|
Directors
or relatives of directors |
|
36.09 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Export of Cotton Yarn, Synthetic Yarn, Fabrics and Knitting Fabrics. |
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Products : |
· Yarn · Fabrics · Knitting Fabrics · Dried Fabrics · Knitted Garments
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PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
|
Licensed
Capacity |
Installed
Capacity |
|
Ring Spinning (Cotton) |
Spindles |
|
62656 |
57936 |
|
Open End Spinning (Cotton) |
Rotors |
|
3152 |
2952 |
|
Air Jet Spinning (Cotton/ Synthetics) |
Positions |
|
2160 |
2072 |
|
Knitted Fabric (Grey) |
MT/ Annum |
|
13420 |
12045 |
|
Knitted Fabric (Dyed) |
MT/ Annum |
|
14200 |
11680 |
|
Knitted Garment |
Lacs Pcs/ Annum |
|
741.82 |
571.20 |
|
Particulars |
Unit |
|
|
Actual
Production |
|
Yarn |
Kg |
|
|
29821.33 |
|
Knitted Fabric (Grey) |
Kg |
|
|
5657.30 |
|
Knitted Fabric (Dyed) |
Kg |
|
|
5319.39 |
|
Knitted garment |
Pcs 000 |
|
|
27203.60 |
|
Cotton/ Other Waste |
Kg |
|
|
10439.92 |
GENERAL INFORMATION
|
No. of Employees : |
5000 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
Kanji R. Agrawal and Company Chartered Accountants |
|
Address : |
104, Anmol Sagar Darshan, 9/1, New Palasia, Main Road,
Indore-452 001, |
|
|
|
|
Subsidiaries : |
Pratibha International SA (Pty) Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25510000 |
Equity Shares |
Rs.10/- each |
Rs.255.100
Millions |
|
7300000 |
Participatory Cumulative Convertible Preference Shares |
Rs.113/- each |
Rs.824.900
Millions |
|
|
Total |
|
Rs.1080.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17018611 |
Equity Shares |
Rs.10/- each
|
Rs.170.186
Millions |
|
7292262 |
Participatory Cumulative Convertible Preference Shares |
Rs.113/-
each |
Rs.824.026
Millions |
|
|
Total |
|
Rs.994.212 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 |
994.212 |
994.212 |
994.212 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1507.650 |
1346.763 |
1189.112 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2501.862 |
2340.975 |
2183.324 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4557.573 |
4565.862 |
3517.195 |
|
|
2] Unsecured Loans |
356.752 |
257.940 |
157.000 |
|
|
TOTAL BORROWING |
4914.325 |
4823.802 |
3674.195 |
|
|
DEFERRED TAX LIABILITIES |
180.542 |
156.615 |
153.751 |
|
|
|
|
|
|
|
|
TOTAL |
7596.729 |
7321.392 |
6011.270 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5145.214 |
4603.293 |
2899.480 |
|
|
Capital work-in-progress |
44.194 |
401.002 |
956.150 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.549 |
16.548 |
501.367 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1745.548
|
1426.306
|
1141.569 |
|
|
Sundry Debtors |
495.474
|
606.301
|
403.738 |
|
|
Cash & Bank Balances |
155.026
|
134.022
|
83.057 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
621.262
|
592.567
|
502.103 |
|
Total
Current Assets |
3017.310
|
2759.196
|
2130.467 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
390.266
|
|
454.407 |
|
|
Other Current Liabilities |
202.768
|
141.311
|
|
|
|
Provisions |
33.504
|
11.303
|
21.787 |
|
Total
Current Liabilities |
626.538
|
458.647
|
476.194 |
|
|
Net Current Assets |
2390.772
|
2300.549
|
1654.273 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7596.729 |
7321.392 |
6011.270 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5557.735 |
5440.085 |
5107.213 |
|
|
|
Other Income |
20.455 |
14.476 |
12.967 |
|
|
|
TOTAL (A) |
5578.190 |
5454.561 |
5120.180 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Materials Purchases and Consumption |
3052.886 |
|
4399.029 |
|
|
|
Manufacturing and Operating Expenses |
726.215 |
586.749 |
|
|
|
|
Employees’ Remuneration and Benefits |
563.220 |
434.288 |
|
|
|
|
Sales and Administrative Expenses |
429.757 |
499.739 |
|
|
|
|
|
4772.078 |
4841.842 |
|
|
|
|
Increase/ Decrease in Stock |
(144.663) |
(101.513) |
|
|
|
|
TOTAL (B) |
4627.415 |
4740.329 |
4399.029 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
950.775 |
714.232 |
721.151 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
395.178 |
311.518 |
252.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
555.597 |
402.714 |
468.504 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
332.943 |
222.226 |
181.878 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
222.654 |
180.488 |
286.626 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
61.767 |
22.837 |
34.760 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
160.887 |
157.651 |
251.866 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
984.473 |
826.822 |
574.956 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1145.360 |
984.473 |
826.822 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Goods Exported |
3182.203 |
3446.216 |
3653.557 |
|
|
TOTAL EARNINGS |
3182.203 |
3446.216 |
3653.557 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
12.547 |
52.456 |
NA |
|
|
|
Stores & Spares |
108.147 |
106.353 |
NA |
|
|
|
Capital Goods |
73.088 |
354.716 |
NA |
|
|
TOTAL IMPORTS |
193.782 |
513.525 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.60 |
6.50 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.88
|
2.89
|
4.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.01
|
3.32
|
5.61 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.73
|
2.45
|
5.70 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.02
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.21
|
2.25
|
1.90 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.82
|
6.02
|
4.47 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONAL
PERFORMANCE:
Despite all the
challenges in the market place, the Company, in the year, registered overall growth
in sales. The Company has been able to withstand intense competition and price
pressures in the export markets and has further consolidated its market
leadership in the industry segments in which it operates.
The company
maintained its performance during the financial year FY 2010. The highlights of
the same are as under:
• Registered
growth of 2.2% on total sales by achieving Rs.5557.700 millions as against
Rs.5440.000 millions of FY’09;
• Registered
growth of 33.1% in EBIDTA Margins by achieving Rs.951.800 millions as against
Rs.714.200 millions of FY 09;
• Registered
growth of 23.4% in PBT Margins by achieving Rs.223.900 millions as against
Rs.180.500 millions of FY 09;
• Registered
growth of 2.1% in PAT Margins by achieving Rs.160.900 millions as against
Rs.157.600 millions of FY 09;
• Registered
growth of 30% in Net Cash Accruals by achieving Rs.493.800 millions as against
Rs.379.900 millions of FY 09.
The Company has
further improved its performance during the financial year ended March 31, 2010.
The following highlights are being produced on account of performance achieved
by the Company during FY 2010:
The Directors are
confident of improving the performance of the Company in the ensuing year.
After witnessing a
significant slowdown in the fiscal year ended March’ 2009, the Indian economy
bounced back impressively during the last financial year. The inherently strong
domestic consumption combined with both the monetary and fiscal stimuli
measures undertaken by the government and other policy authorities over the
past year helped the economy shrug off the overhang of weak exports and global
headwinds. Both merchandise exports and imports recovered at the end of the
third quarter of the last fiscal year after the record slide seen over the two quarters
prior to that. Domestic imports also rose sharply over the last few months
driven by strong growth in the domestic industrial sector.
In today’s
challenging environment, the Company has taken measures to remain financially
robust, focusing on efficiency and finding innovative ways to remain lean in
order to keep its cost down. The focus is on value added services and being
recognized by its customers as a ‘quality provider’. The Company’s focus is
clearly on creating close customer partnership to offset some of these adverse
conditions. The Company continued its aggressive strategy in marketing of its
products and has taken several initiatives to improve services and distribution
levels by launching a number of new products and solutions.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U17111MH1982PTC118017 |
|
Name of the
company |
PRATIBHA SYNTEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
301, E-Mail: mumbai@pratibhasyntex.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Central Bank of E-Mail: centsiya@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Hypothecation
Agreement dated 30.10.2010: Additional Cash
Credit Limit (H) Limit/ Additional EPC
- Rs.250.000 millions Medium Term Loan
- Rs.450.000 millions Total -
Rs.700.000 millions |
|
Date of
instrument Creating the charge |
30/10/2010 |
|
Amount secured by
the charge |
Rs.700.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest- BR+5%
(Additional Cash Credit Limit (H) Limit/ Additional EPC of Rs.250.000
millions) BR+4% with annual reset (Medium Term Loan of
Rs.450.000 millions) Terms of
Repayment: Repayment: Additional Cash Credit
Limit (H) Limit/ Additional EPC -
On Demand Medium Term
Loan - 12 Quarterly Installment start
from Sept-2012 and end on June-2015 Margin: Margin: Additional Cash
Credit Limit (H) Limit/ Additional EPC
- 25%/ 10% Medium Term Loan
- NIL Extent and
Operation of the charge: Hypothecation
Agreement dated 30.10.2010: Additional Cash
Credit Limit (H) Limit/ Additional EPC
- Rs.250.000 millions Medium Term Loan
- Rs.450.000 millions Total -
Rs.700.000 millions |
|
Short particulars
of the property charged |
All tangible
movable property such as stock-in- trade and goods whether finished or raw
material or in process of cotton, belonging to Farmers(s)/ Borrowers which
now or hereafter from time to time during this security shall be brought in,
Stored or be in or about the premises, warehouse or godowns of the Borrowers
in Pithampur, Faridabad, Indore or anywhere else. All present and
future Book debts, outstanding money receivable claims, Bills, Contracts,
Securities, Investment right etc. belonging to the Borrowers in respect of
the contract farming of cotton. All equipments/
machineries/ spare parts etc. created out of the term loan(s) |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U17111MH1982PTC118017 |
|
Name of the
company |
PRATIBHA SYNTEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
301, Acme Plaza, Andheri-Kurla Road, Opposite Sangam Cinema, Mumbai- 400059, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
(not being pledge) |
|
Particular of
charge holder |
Bank of Baroda, Siyaganj Branch, 15-16, Jawahae Marg, IDA
Building, Indore-452007, Madhya Pradesh, India. |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Composite
hypothecation agreement dated 19.05.2010 for working capital of FBD/FBP
limit. |
|
Date of instrument
Creating the charge |
19.05.2010 |
|
Amount secured by
the charge |
Rs.100.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per bank’s guidelines
from time to time. Terms of
Repayment On demand Extent and
Operation of the charge Composite
hypothecation agreement dated 19.05.2010 for working capital of FBD/FBP
limit. |
|
Short particulars
of the property charged |
I)
The
whole of the borrower stocks, both and future and including but without
prejudice of the generally of the foregoing words, all stocks of raw
material, work in progress, semi finished goods as II)
Cotton
yarn garments packing material and stores etc. whatsoever and wheresoever
situate and/or in transit whether not belonging to or that may at any time
during the continuance of this security III)
Belong
to borrower on that may be held by any party anywhere to the order and
disposition of borrowers. IV)
All
the present and future book debts, outstanding, monies receivable, claims,
bills, contracts, engagement and securities which are now due and owing or
which may at anytime hereafter during the V)
Continuance
of this security become due and owing to the barrower in the course of its
business by any person, firm company or body corporate or by the government
of India or any state government of Indian VI)
Railway
or any government department or office or municipal or local or public or
semi-government body or authority whatsoever including those relating to the
assets leased our and/or given on hire purchase basis. VII)
The
furniture, fixtures and lifting and office equipment whether installed or not
and whether lying loose or in cases which are now lying or stored in or about
or shall be brought into or be stored VIII)
Or be
in or upon or about the borrowers premises and godowns or wherever else the
same may be or be held by any party to the order or disposition of the
borrower (including those on lease or) IX)
Hire
purchase relating or pertaining to borrowers work at Plot No. 4, Industrial
Growth Centre, Kheda, Pithampur, District Dhar, Madhya Pradesh. |
FIXED ASSETS
·
Land
·
Building
·
Plant and
Machinery
·
Electrical
Installation
·
Furniture and
Fixture and Other Assets
·
Vehicle
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.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.