MIRA
INFORM REPORT
|
Report Date : |
15.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
SAINT-GOBAIN GYPROC INDIA LIMITED |
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Formerly Known As : |
INDIA GYPSUM LIMITED |
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Registered Office : |
Nare and |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
05.02.1985 |
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Com. Reg. No.: |
11-165329 |
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CIN No.: [Company
Identification No.] |
U26945MH1985PLC165329 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI05795G |
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PAN No.: [Permanent
Account No.] |
AAACI0687E |
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Legal Form : |
A Closely Held Public Limited Liability Company. |
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Line of Business : |
Manufacturer, Exporter and Importer of Gypsum Board Systems and
Solutions. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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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 9600000 |
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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 part of Saint – Gobain Group. It is a well established
and a reputed company having fine track. Financial position of the company
appears to be sound. Trade relations are reported as fair. Business is
active. Payments are reported to be regular 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC Classification |
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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 |
INFORMATION DENIED BY
|
Name : |
Mr. Shailesh Singapure |
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Designation : |
Accounts Officer |
|
Date : |
14.01.2011 |
LOCATIONS
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Registered Office : |
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Tel No. : |
91-22-23712167 |
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Fax No.: |
91-22-23355632 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
5th Level Leela Business Park, Marol Opposite to Leela
Hotel, Andheri Kurla Road, Andheri (East), Mumbai- 400059, Maharashtra, India
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Tel No. : |
91-22-40212121 |
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Fax No. : |
91-22-40212392 |
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Works: |
Location : Owned
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Regional Sales Office: |
Located At:
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DIRECTORS
AS ON 31.03.2010
|
Name : |
Mr. Anand Mahajan |
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Designation : |
Chairman |
|
Address : |
Fiona, 3rd Floor, 176, Juhu, |
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Date of Birth/Age : |
03.01.1953 |
|
Date of Appointment : |
27.03.2006 |
|
Directorship in
Other Company : |
CIN : U26109TN1997PLC037875
CIN : U26101MH1973PLC018367
CIN : L26102AP1998PLC030183
CIN : U26922KL2000PLC014317 CIN : U23200MH1993PLC070762
CIN : U28930TN1962PTC004872
CIN : U45400MH2004PTC146280
CIN : U29256KA2005PLC036090
CIN : L99999MH1962PLC012451
CIN : U91990MH2005NPL157644
CIN : L26593MH1950PLC008163 |
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Name : |
Mr. Subramanian Venkataraman |
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Designation : |
Managing Director |
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Address : |
C29, |
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Date of Birth/Age : |
20.11.1960 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. Sanjay Bahl |
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Designation : |
Whole-Time Director |
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Address : |
602, |
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Date of Birth/Age : |
18.05.1968 |
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Date of Appointment : |
29.01.2005 |
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Name : |
Mr. Lalit Bhasin |
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Designation : |
Director |
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Address : |
10, |
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Date of Birth/Age : |
19.01.1939 |
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Date of Appointment : |
25.08.1987 |
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Name : |
Mr. Vikas Vig |
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Designation : |
Director |
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Address : |
B- 120, |
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Date of Birth/Age : |
07.10.1952 |
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Date of Appointment : |
03.08.2001 |
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Name : |
Mr. Lalit Naik |
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Designation : |
Director |
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Address : |
BPB Asia Limited, 13th Floor, Gypsum Mahansakorn, Building
539/2, |
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Date of Birth/Age : |
18.10.1961 |
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Date of Appointment : |
01.11.2002 |
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Name : |
Mr. Mark Vince Richard Fenson |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
18.05.1968 |
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Date of Appointment : |
30.09.2008 |
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Name : |
Mr. Sanjiv Kumar |
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Designation : |
Director |
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Address : |
1903 Raheja Empress, Veer Savarkar Marg, Prabhadevi, Mumbai- 400025, |
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Date of Appointment : |
15.03.2005 |
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Name : |
Mr. Cloude Alain Tardy |
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Designation : |
Director |
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Address : |
2, Avenue Du |
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Date of Birth/Age : |
02.02.1956 |
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Date of Appointment : |
27.03.2006 |
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Name : |
Mrs. Priya S, Dass Gupta |
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Designation : |
Director |
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Address : |
J-1810, |
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Date of Birth/Age : |
30.06.1955 |
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Date of Appointment : |
30.09.2008 |
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Date of Cessation : |
30.09.2008 |
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Name : |
Mr. Matthew Christina Evelyn Walker |
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Designation : |
Director |
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Address : |
66/3, Sukhumvit, 63/22 Klongton Nua, |
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Date of Birth/Age : |
02.06.1967 |
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Date of Appointment : |
30.10.2004 |
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Date of Cessation : |
20.03.2008 |
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Name : |
Mr. Joseph Andrew Jude Pereira |
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Designation : |
Director |
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Date of Birth/Age : |
29.11.1948 |
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Date of Appointment : |
16.12.2009 |
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Name : |
Mr. Devid Anderson |
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Designation : |
Director |
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Date of Birth/Age : |
17.09.1955 |
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Date of Appointment : |
29.09.2009 |
KEY EXECUTIVES
|
Name : |
Ms. Swati D. Naik |
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Designation : |
Secretary |
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Address : |
26A- 15, Govind Nagar, |
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Date of Birth/Age : |
23.04.1979 |
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Date of Appointment : |
20.08.2008 |
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Name : |
Mr. Rohit Patoria |
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Designation : |
Secretary |
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Address : |
18 Purva Apartment, Malad (Eats), Mumbai- 400097, |
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Date of Birth/Age : |
28.06.1976 |
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Date of Appointment : |
15.05.2005 |
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Date of Cessation : |
10.08.2007 |
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|
Name : |
Mr. Shailesh Singapure |
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Designation : |
Accounts Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2010
|
Names of Shareholders |
No. of Shares |
|
BPB India Limited Address: C/o B P B |
2875 |
|
BPB India Limited Joint Holder Anand Mahajan |
1 |
|
BPB India Limited Joint Holder Venkatraman Subramaniam |
1 |
|
BPB India Limited Joint Holder Gaganjot Singh |
1 |
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BPB India Limited Joint Holder Vivek Nanawati |
1 |
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BPB India Limited Address: C/o B P B |
1 |
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BPB India Limited Address: C/o B P B |
1 |
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BPB India Limited Address: C/o B P B |
6357 |
|
Hela Holding Private Limited |
1 |
|
Anuj A Sheth |
15 |
|
MSPL Limited |
1 |
|
Total |
9255 |
AS ON 28.09.2010
|
Equity Share
breakup (percentage of total equity) |
|
|
Category |
Percentage |
|
Foreign Holding (Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or
Overseas corporate bodies or others) |
99.82 |
|
Bodies Corporate |
0.02 |
|
Other top fifty (50) shareholders |
0.16 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Gypsum Board and Accessories |
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Products : |
ITC Code |
Product
Descriptions |
|
680911 |
Gypsum Board and Gypsum Based Accessories |
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Exports : |
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Products : |
Gypsum Plaster Board, Plaster Systems and Solutions |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash / Credit |
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PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Gypsum Board |
M.T |
359500 |
171418 |
|
Gypsum Based Accessories |
M.T |
86700 |
54941 |
GENERAL INFORMATION
|
No. of Employees : |
185 (60 in Office, 90 in Factory, 35 Contract Workers) |
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Bankers : |
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Facilities : |
Rs. In Millions
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Banking Relations
: |
-- |
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Auditors : |
Price Waterhouse Chartered Accountant |
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Address : |
252 Veer Savarkar Marg, |
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Holding Company : |
BPB India Limited Address: C/o B P B CIN No.: U67120MH1999PTC167800 (Holding company (Holds 99.82%
of the paid up equity share capital of the company). BPB Plc, the
holding company of BPB India Limited Is a subsidiary of Companies De Saint-Gobaln,
the ultimate holding company.) |
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Associates/Subsidiaries : |
Address: Line of Business:
Manufacturer of Float Glass. CIN :
U26109TN1997PLC037875
Address: Mumbai,
Line of Business: Manufacturer of Ready to Mix Industrial Mortar
Solutions.
Address: Bhosari, Pune,
Line of Business: Manufactuer of Automotive Glass Products CIN :
U26101MH1973PLC018367
CIN : L26102AP1998PLC030183
CIN : U29256KA2005PLC036090 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs. 30000 /- Each |
Rs.750.000 millions |
Note:
Pursuant to the scheme of arrangement approved
by the High Court,
Issued :
|
No. of Shares |
Type |
Value |
Amount |
|
9255 |
Equity Shares |
Rs. 30000 /- Each |
Rs. 277.650 millions |
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9255 |
Equity Shares |
Rs. 30000 /- Each |
Rs.277.650 Millions |
|
|
Add : Equity Share Forfeited |
|
Rs.0.016 |
|
Total |
|
Rs. 277.666 millions |
|
Note:
Out of the above 9238 equity share are held by
BPB India Limited. During the period, pursuant to scheme of amalgamation of BPB
Holding India Private Limited (BUIPL) against 8604514 Equity shares (having
face value of Rs. 10 /- each) held by BPB holding India Private Limited in the
company, new 2881 equity shares were issued having face value of Rs. 30000 each
to BPB India Limited being shareholder of BHIPL. Equity Shares are held by BPB
India Limited were consolidated into 6357 equity shares of Rs. 30000 each.
4357 equity shares of Rs. 30000 each have been
issued by way of conversion of loan into equity.
Pursuant to the scheme of amalgamation by the
Hon’ble High Court of Judicature at Bombay the company has paid Rs. 120 per
share (including premium of Rs. 110 per share) for all the fraction
entitlements i.e. on consolidation of face value of shares from Rs. 10 to
30000) to the erstwhile shareholder of the fractional shares. On payment 349606
equity shares of Rs. 10 each before the date of amalgamation stands cancelled.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
277.666 |
277.666 |
280.777 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2127.044 |
2152.286 |
2088.649 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2404.710 |
2429.952 |
2369.426 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1324.508 |
1517.732 |
1418.607 |
|
|
2] Unsecured Loans |
36.637 |
150.140 |
150.140 |
|
|
TOTAL BORROWING |
1361.145 |
1667.872 |
1568.747 |
|
|
DEFERRED TAX LIABILITIES |
242.456 |
243.007 |
212.603 |
|
|
|
|
|
|
|
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TOTAL |
4008.311 |
4340.831 |
4150.776 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3395.406 |
3483.432 |
1976.059 |
|
|
Capital work-in-progress |
71.231 |
370.214 |
1780.523 |
|
|
|
|
|
|
|
|
INVESTMENT |
269.064 |
55.416 |
0.001 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
376.280
|
350.056
|
232.179
|
|
|
Sundry Debtors |
181.359
|
164.382
|
138.127
|
|
|
Cash & Bank Balances |
95.032
|
100.166
|
315.364
|
|
|
Other Current Assets |
0.156
|
0.406
|
1.615
|
|
|
Loans & Advances |
498.342
|
663.127
|
607.116
|
|
Total
Current Assets |
1151.169
|
1278.137
|
1294.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
737.344 |
568.404 |
615.269 |
|
|
Current Liabilities |
109.394
|
76.837
|
103.472
|
|
|
Provisions |
31.821
|
201.127
|
181.466
|
|
Total
Current Liabilities |
878.559
|
846.368
|
900.207
|
|
|
Net Current Assets |
272.610
|
431.769
|
394.194
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4008.311 |
4340.831 |
4150.776 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
3095.785 |
3531.107 |
2602.115 |
|
|
|
Other Income |
14.628 |
15.916 |
51.569 |
|
|
|
TOTAL (A) |
3110.413 |
3547.023 |
2653.684 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
671.264 |
652.685 |
440.470 |
|
|
|
Manufacturing, Administrative and Other
Expense |
946.067 |
1234.990 |
899.370 |
|
|
|
Raw Material Consumed |
753.362 |
904.124 |
699.281 |
|
|
|
Increase/(Decrease) in Finished Goods |
(33.326) |
16.188 |
24.346 |
|
|
|
Salaries, Wages, Bonus, etc. |
275.333 |
296.754 |
206.277 |
|
|
|
Advertising Expenses |
2612.700 |
3104.741 |
2269.744 |
|
|
|
TOTAL (B) |
|
|
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
497.713 |
442.282 |
383.940 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
127.286 |
80.880 |
5.483 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
396.220 |
361.402 |
378.457 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
203.116 |
193.349 |
120.969 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
(25.793) |
168.053 |
257.488 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(0.551) |
70.199 |
82.801 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(25.242) |
97.854 |
174.687 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
717.737 |
629.004 |
454.317 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT AND LOSS
ACCOUNT DEBIT BALANCE TAKEN OVER ON AMALGAMATION |
0.000 |
9.121 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
692.495 |
717.737 |
629.004 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
3.229 |
NA |
|
|
|
Commission Earnings |
NA |
1.305 |
NA |
|
|
|
Other Earnings |
NA |
0.000 |
NA |
|
|
TOTAL EARNINGS |
NA |
4.534 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
217.086 |
266.327 |
0.648 |
|
|
|
Stores & Spares |
4.213 |
3.496 |
149.546 |
|
|
|
Capital Goods |
2.308 |
0.000 |
494.211 |
|
|
|
Others |
125.571 |
74.639 |
22.252 |
|
|
TOTAL IMPORTS |
349.178 |
344.462 |
666.657 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(2727.00) |
10573.00 |
6.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 (12 Months) |
31.03.2009 (15 Months) |
31.12.2007 (12 Months) |
|
PAT / Total Income |
(%) |
(0.81) |
2.76 |
6.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(0.83) |
4.76 |
9.89 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.56) |
3.53 |
7.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
0.07 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.03 |
1.03 |
0.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.51 |
1.44 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details:
Rs. In Millions
|
Particulars |
31.03.2010 |
31.03.2009 |
31.12.2007 |
|
Total outstanding dues of micro and small enterprises |
0.000 |
5.930 |
3.681 |
|
Total outstanding dues of creditors and small enterprises |
737.344 |
562.474 |
611.588 |
|
Total |
737.344 |
568.404 |
615.269 |
FINANCIAL RESULTS
The Company has
witnessed competitive pressures which impacted turnover and profits. Sales on a
comparable basis grew by 10% majorly led by traded products viz metal
accessories and manufactured Plasters. Profit before taxation reduced majorly
due to impairment of assets at Chennai plant for Rs. 193.104 millions. Sales
and profitability of thair main product i.e. Plasterboard was impact by
increasing low cost imports from Thailand, Middle East, China and Indonesia. In
view of current uncertain economic environment, the Directors do not recommend
any dividend.
WADA PLASTER PLANT
II
On 1st September,
2009, the company started commercial production from the second state of the
art Wada Plaster Plant with the total installed capacity of 75,000 MT. This
addition of the new plant resulted in an increase of the installed capacity
from 75,000 MT to 1,50,000 MT.
NOTE:
The registered office of the company has been shifted from 137 Sant Nagar,
Form 8
|
Name of the company |
Indian Gypsum
Limited |
|
Presented By |
Mr. V. Mohan,
Company Secretary |
|
1) Date and description of instrument creating the change |
Deed of hypothecation
dated 16.11.1987 registered on 09.02.1988 modified on 31.03.1988, registered
on 22.09.1988, modified on 14.07.1990 registered on 31.03.1990 (Term loan),
modified on 15.12.1990 registered on 28.01.1991. Modified on 24.06.1991
registered on 04.083.1991 (Term Only) |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.5.000 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 |
The whole of the
stocks of raw material, goods in process, finished goods, other goods, lying
at or to be brought at the factory at jind or lying elsewhere including goods
in transit or delivery. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
19.25% |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of “ |
|
6) Date and brief description of instrument modifying the charge |
Agreement fir
hypothecation dated 29.04.1992 |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10071683 |
|
Corporate
identity number of the company |
U26945MH1985PLC165329 |
|
Name of the
company |
SAINT-GOBAIN GYPROC INDIA LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Calyon Bank, E-Mail : vlaaman@vsnl.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
entry |
|
Date of
instrument Creating the charge |
04.02.2009 |
|
Amount secured by
the charge |
Rs.303.156 |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be situated by the bank from time to time. Terms of Repayment Term Loan shall
be repayable in suitable installments. Margin As may be
situated by bank from time to time Extent and Operation of the charge The company
accorded and gave oral consent to BNP Paribas (BNPP), BNPP acting as agent of
Calyon Bank, Singapore Branch to continue to hold and retain the title deeds
(by way of Constructive delivery) in respect of its immovable properties as
mentioned under item No.14 as security for repayments of term loan of USD
6670000 equivalent to Rs.303.156 millions by the company, including
principal, interest, liquidated damages. Costs, charges and expenses. |
|
Short particulars
of the property charged |
Immovable
properties of the borrower being lying and situated at Jind (Haryana),
Chengapet (Tamilnadu) and Wada ( |
|
Date of latest modification
prior to the present modification |
06.09.2007 |
FORM 8
|
Corporate
identity number of the company |
U26945MH1985PLC165329 |
|
Name of the
company |
SAINT-GOBAIN GYPROC INDIA LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Nare and |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
Corporation Bank, Mumbai – IFB, Bharath House, Groud Floor, 104 Bombay
Samachar Marg, Mumbai – 400001, Maharashtra, India Email: cb443@corpbank.co.in |
|
Nature of
instrument creating charge |
Deed of
Hypothecation dated June 22, 2009 executed to secure repayment of financial
accommodation / credit facility offered by the bank. |
|
Date of
instrument Creating the charge |
22.06.2009 |
|
Amount secured by
the charge |
Rs. 250.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Rate of Interest
COBAR - 0.50% i.e. 11.50% p.a. at present subject to revision from time to
time based on the grading of the account for which Bank reserve the right. Terms of repayment The credit
facilities availed shall be repaid in lump sum or in installments or within
stipulated period as may be stipulated by the Bank in the sanction letter or
as may be agreed. Margin NA Extent and operation of the charge Hypothecation of
movables(Stock comprising of Gypsum Plasterboard, Gypsum Plasters, Ceiling
Tiles, Jointing Compound and Metal Accessories stored at various warehouses
located across the country and book debts.), present and future, as security
for the due payment until repayment of dues. |
|
Short particulars
of the property charged (Including location of the property) |
Stock comprising
of Gypsum Plasterboard, Gypsum Plasters, Ceiling Tiles, Jointing Compound and
Metal Accessories stored at various warehouses located across the country and
book debts. |
Fixed Assets
- Building
- Plant and Machinery
- Furniture and Fittings
- Office Equipments
- Vehicles
- Computer Software
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.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
51 |
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.