Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
HINDUSTAN PENCILS PRIVATE LIMITED |
Principal Name 1 |
Mr. Kirti B. Sanghvi |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Harendra B. Sanghvi |
|
|
|
Registration # |
11-.009500 |
|
Street Address |
111/112 Himalaya House, 79 - Palton Road, Mumbai – 400001,
Maharashtra |
||
|
Established Date |
15.03.1955 |
SIC Code |
-- |
|
Telephone# |
91-22-22614505 / 06 / 07 |
Business Style 1 |
Manufacturer of Primary School Stationery. |
|
Fax # |
91-22-22626444 / 226145808 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Pencils |
|
|
# of employees |
100 [Approximately] |
Product Name 2 |
Erasers |
|
Paid up capital |
Rs. 29,837,020 |
Product Name 3 |
Sharpeners |
|
Shareholders |
Bodies corporate 78.97 |
Banking |
The Saraswat Co-operative Bank Limited |
|
Public Limited Corp. |
-- |
Business Period |
56 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation - Associates/Subsidiaries |
Country
|
Company
Name |
Apsara Art Materials Private Limited |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
622,100,000 |
Current Liabilities |
1,014,809,000 |
|
Inventories |
864,881,000 |
Long-term Liabilities |
387,851,000 |
|
Fixed Assets |
497,906,000 |
Other Liabilities |
0 |
|
Deferred Assets |
7,862,000 |
Total Liabilities |
1,402,660,000 |
|
Invest& other Assets |
312,568,000 |
Retained Earnings |
872,820,000 |
|
|
|
|
902,657,000 |
|
Total Assets |
2,305,317,000 |
Total Liab. & Equity |
2,305,317,000 |
|
Total Assets (Previous Year) |
2,197,571,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
4,010,383,000 |
Net Profit |
107,557,000 |
|
Sales(Previous yr) |
3,602,452,000 |
Net Profit(Prev.yr) |
178,676,000 |
MIRA
INFORM REPORT
|
Report Date : |
03.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
HINDUSTAN PENCILS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
111/112 Himalaya House, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
15.03.1955 |
|
|
|
|
Com. Reg. No.: |
11-.009500 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.837
millions |
|
|
|
|
CIN No.: [Company Identification No.] |
U36991MH1955PTC009500 |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer of Primary School Stationery. |
|
|
|
|
No. of Employees : |
100 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
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 : |
Ms. Padma |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-22614505 |
|
Date : |
04.05.2011 |
LOCATIONS
|
Registered Office : |
111/112 Himalaya House, |
|
Tel. No.: |
91-22-22614505 / 06 / 07 |
|
Fax No.: |
91-22-22626444 / 226145808 |
|
E-Mail : |
|
|
Website : |
|
|
Location
: |
8500 sq. ft. [Owned] |
|
|
|
|
Administrative Office : |
510, Himalaya House, |
|
Tel. No.: |
91-22-22614507 |
|
Fax No.: |
91-22-22614508 |
|
Location
: |
3000 sq. ft. [Owned] |
|
|
|
|
Factories : |
Located
At : ·
·
Umergaon ·
Achhad ·
Baribrahmna ·
|
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Kirti B. Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
21 Varsha, 69 B, |
|
Date of Birth/Age : |
19.11.1948 |
|
Date of Appointment : |
01.06.2007 |
|
|
|
|
Name : |
Mr. Harendra B. Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
25, Sagar Tarang, |
|
Date of Birth/Age : |
06.12.1952 |
|
Date of Appointment : |
01.06.2007 |
|
|
|
|
Name : |
Ms. Bharti Koshore Sanghvi |
|
Designation : |
Director |
|
Address : |
17/B, Akash Ganga, B, |
|
Date of Birth/Age : |
30.06.1947 |
|
Date of Appointment : |
11.03.2010 |
|
|
|
|
Name : |
Mr. Kishore B Sanghvi |
|
Designation : |
Chairman and Whole Time Director |
|
Address : |
21-A, Akash Ganga, B, |
|
Date of Birth/Age : |
22.09.1943 |
|
Date of Appointment : |
01.06.2007 |
|
Date of Ceasing : |
01.03.2010 [Death] |
|
|
|
|
Name : |
Mr. Bhaidas J. Sanghvi |
|
Designation : |
Chairman |
|
Address : |
24, Sagar Tarang B, |
|
Date of Birth/Age : |
09.01.1921 |
|
Date of Appointment : |
06.03.1955 |
|
Date of Ceasing : |
27.03.2007 |
|
|
|
|
Name : |
Mr. Bhowmik H. Sanghvi |
|
Designation : |
Director |
|
Address : |
25, Sagar Tarang B, |
|
Date of Birth/Age : |
23.11.1979 |
|
Date of Appointment : |
15.10.2001 |
|
Date of Ceasing : |
01.06.2007 |
|
|
|
|
Name : |
Mr. Nilkanth R. Warerkar |
|
Designation : |
Director |
|
Address : |
17/B, Suprabhat Apartment, |
|
Date of Birth/Age : |
22.02.1923 |
|
Date of Appointment : |
02.03.1990 |
|
Date of Ceasing : |
27.06.2009 |
KEY EXECUTIVES
|
Name : |
Mr. Gajanan B. Rajeshirke |
|
Designation : |
Secretary |
|
Address : |
13 Sahakar Anand nagar, Vakola, Santacruz, Mumbai –
400055, |
|
Date of Birth/Age : |
16.08.1954 |
|
Date of Appointment : |
04.03.1991 |
|
|
|
|
Name : |
Mr. Nitin P. Gupta |
|
Designation : |
Secretary |
|
Address : |
House No. 35, Krishna nagar, |
|
Date of Birth/Age : |
24.11.1975 |
|
Date of Appointment : |
01.06.2004 |
|
|
|
|
Name : |
Ms. Padma |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No.
of Shares |
|
Sanghvi B. Kirti, |
691368 |
|
Sanghvi B. Harendra |
27500 |
|
Sanghvi B. Harendra, |
67067 |
|
Sanghvi H. Harsha, |
27500 |
|
Sanghvi K. Dhruman |
21800 |
|
Sanghvi B. Kirti, |
50400 |
|
Sanghvi B. Harendra |
4500 |
|
Sanghvi H. Bhaumik, |
65800 |
|
Sanghvi K. Dhruman, |
215967 |
|
Sanghvi K. Sanchi, |
62300 |
|
Parul-Dhruvi Investment Company Private Limited, Mumbai |
541200 |
|
Harsha-Haren Investment Company Private Limited, Mumbai |
605800 |
|
Hiralaxmi Bhaidas Investment Company Private Limited,
Mumbai |
600000 |
|
Sanghvi B.Kishore |
2500 |
|
|
|
|
Total
|
2983702 |
(AS ON 30.09.2010)
|
Category |
Percentage
|
|
|
|
|
Bodies corporate |
78.97 |
|
Directors or relatives of directors |
20.95 |
|
Other top fifty shareholders |
0.08 |
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Primary School Stationery. |
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Products : |
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Exports : |
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Products
: |
Stationery Items |
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Countries
: |
·
UAE ·
Saudi Arabia ·
Russia, Malaysia ·
Oman ·
Bangladesh ·
Syria ·
Australia ·
Mauritius ·
Egypt ·
Brazil |
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Imports : |
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Products
: |
·
Pensil ·
Sharpner ·
Natural Flake |
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Countries
: |
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Terms : |
|
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Selling
: |
L/C, Cash, Credit (30 /60 /90 days) |
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|
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Purchasing
: |
L/C, Cash, Credit (30 /60 /90 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Pencils |
Boxes
|
14400000 |
2879282 |
|
Other Stationery |
Pcs /Boxes |
Not
Ascertainable |
NA |
|
|
|
|
|
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
100 [Approximately] |
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Bankers : |
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Facilities
: |
Cash Credit – Rs. 105.442
Millions [From The Shamrao Vithal Co-operative Bank Limited]
Notes (1) Loans referred to in A(i) above, secured by
hypothecation of imported moulds and plant and machinery financed by Bank and
personal guarantee of two Directors (2)
Loan referred to in A(ii) above, secured by hypothecation of Plant and
Machineries, Moulds, Computer Hardware, Software and Equitable mortgage of
Land and Building (Tumbh Location) financed by the bank and personal Guarantee
by two Directors. (3)
Term Loans repayable within one year amounts to Rs. 51.742 Millions (p.y. Rs.
50.420 Millions). (4)
Working Capital and Packing Credit limit from banks referred in B above are
secured by hypothecation of present and future Inventory Book Debts, lien
mark of Fixed Deposits, other current assets and further personally
Guaranteed by two directors. |
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name
: |
Chaturvedi and Shah Chartered Accountant |
|
Address
: |
714-715, Tulsiani Chambers, 212, Nirimanpoint,
Mumbai-400021, |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
AS ON
31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Share |
Rs.10/- Each |
Rs.40.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2983702 |
Equity Share |
Rs.10/- Each |
Rs.29.837
millions |
|
|
|
|
|
NOTE:
Out of above 1197500 (previous year
1197500) bonus shares of Rs.10 each Issued as fully paid up by capitalization
of General Reserve.
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 |
29.837 |
29.837 |
29.837 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
872.820 |
771.651 |
597.646 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
902.657 |
801.488 |
627.483 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
304.956 |
436.553 |
404.369 |
|
|
2] Unsecured Loans |
82.895 |
16.539 |
32.389 |
|
|
TOTAL
BORROWING |
387.851 |
453.092 |
436.758 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
13.600 |
11.271 |
|
|
|
|
|
|
|
|
TOTAL |
1290.508 |
1268.180 |
1075.512 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
497.906 |
524.566 |
518.541 |
|
|
Capital work-in-progress |
117.240 |
51.988 |
43.670 |
|
|
|
|
|
|
|
|
INVESTMENT |
185.518 |
30.518 |
0.511 |
|
|
DEFERREX TAX ASSETS |
7.862 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
864.881
|
925.414
|
641.562 |
|
|
Sundry Debtors |
183.037
|
257.285
|
141.577 |
|
|
Cash & Bank Balances |
11.399
|
39.987
|
17.630 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
427.664
|
358.710
|
311.483 |
|
Total Current Assets |
1486.981
|
1581.396
|
1112.252 |
|
|
Less :
CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
163.169
|
139.784
|
100.471 |
|
|
Current Liabilities |
512.817
|
480.589
|
324.490 |
|
|
Provisions |
338.823
|
309.018
|
182.830 |
|
Total Current Liabilities |
1014.809
|
929.391
|
607.791 |
|
|
Net Current Assets |
472.172
|
652.005
|
504.461 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
9.810 |
9.103 |
8.321 |
|
|
|
|
|
|
|
|
TOTAL |
1290.508 |
1268.180 |
1075.512 |
|
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4010.383 |
3602.452 |
3206.502 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
3712.296 |
3164.115 |
3029.728 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3712.296 |
3164.115 |
3029.728 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION |
298.087 |
438.337 |
176.774 |
|
|
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
134.718 |
133.238 |
111.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX |
163.369 |
305.099 |
65.740 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
55.812 |
126.423 |
25.437 |
|
|
|
|
|
|
|
|
|
|
PROFIT
AFTER TAX |
107.557 |
178.676 |
40.303 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT FORWARD |
484.571 |
327.954 |
293.776 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.760 |
17.870 |
4.031 |
|
|
|
Dividend |
3.580 |
3.580 |
1.790 |
|
|
|
Tax on Dividend |
0.595 |
0.608 |
0.304 |
|
|
|
Short Provision of Income Tax |
1.802 |
-- |
-- |
|
|
|
Excess Provision of Income Tax
|
(0.031) |
-- |
-- |
|
|
BALANCE
CARRIED TO THE B/S |
575.422 |
484.572 |
327.954 |
|
|
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
381.704 |
331.390 |
266.252 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
250.350 |
255.107 |
67.044 |
|
|
|
Finished Goods |
4.197 |
1.913 |
8.096 |
|
|
|
Stores & Spares |
3.671 |
3.792 |
7.155 |
|
|
|
Capital Goods |
41.264 |
69.121 |
127.510 |
|
|
TOTAL
IMPORTS |
299.482 |
329.933 |
209.805 |
|
|
|
|
|
|
|
|
|
|
Earnings
Per Share (Rs.) |
36.05 |
59.88 |
13.51 |
|
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
4500.000 |
4010.000 |
3600.000 |
Expected Sales ( 2011-2012 ) : Rs. 5000.000 millions
The above information has been parted by Mrs. Padma.
KEY
RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.68 |
4.96 |
1.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.23 |
14.49 |
4.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.38 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.55 |
1.72 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current
Liability) |
|
1.47 |
1.70 |
1.83 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS
OF SUNDRY CREDITORS
(Rs in Millions)
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
Sundry Creditors |
|
|
|
|
|
|
Due to Micro and Small
Enterprises |
Nil |
Nil |
|
|
|
Others |
160.991 |
136.670 |
100.471 |
|
Creditors for Capital Expenditure |
|
|
|
|
|
|
Due to Micro and Small
Enterprises |
Nil |
Nil |
|
|
|
Others |
2.178 |
3.114 |
|
|
Total |
163.169 |
139.784 |
100.471 |
|
Bankers Charges Report as per Registry
|
Name of the company |
HINDUSTAN
PENCILS LIMITEQ |
|
Presented By |
THE
SARASWAT CO-OPERATIVE BANIK LIMITED FORT BRANCH, MUMBAI |
|
1) Date and description of
instrument creating the change |
1. Joint
Deed of Hypothecation of machinery 2.
Memorandum of Deposit of title deeds Both
the agreements are dated 29 March 1996 and constitute a single charge |
|
2) Amount secured by the
charge/amount owing on the securities of charge |
Rs.
19.400 Millions |
|
3) Short particular of the
property charged. If the property acquired is subject to charge, date of the
acquired of the property should be given |
Hypothecation
of plant, machinery, furniture and fixtures. All that land hereditaments and
premises together with the factory, building shed and all other structures
now standing thereon and or under construction thereon or any part thereof
situated lying and being at, Plot no bearing survey no 1079, admeasuring
15,000 sq meters or thereabouts within the village limits of Naroli, in the
Union Territory of Dadra and Nagar Haveli. Saraswat
Bank Term Loan
:Rs 2.500 Millions Canara
Bank Term
Loan :Rs 7.500 Millions Bharat
overseas Bank Term Loan
:Rs 5.400 Millions Shamrao
Vithal co-op Bank Term Loan :Rs
4.000 Millions
Total Rs 19.400 Millions |
|
4) Gist of the terms and
conditions and extent and operation of the charge. |
This is
a consortium facility |
|
5) Name and Address and
description of the person entitled to the charge. |
The
Saraswat Co-operative Bank Limited Canara
Bank Bharat
Overseas Bank Worli
Mumbai 400025 Shamrao
Vithal Co-op Dank Limited Cuffe
Parade, Mumbai |
|
6) Date and brief description of instrument
modifying the charge |
Letter
dated 28.03.2005 |
|
7) Particulars of modifications
specifying the terms and conditions or the extent of operations of the charge
in which modification is made and the details of the modification. |
The
original charge is dated 29 March 1996 for Rs 19.400 Millions and further
modified on 1 September 1999, 25 January 2001 and 26 October 2001 and 18 July
2002 enhancing the limit to Rs 379.238 Millions and on 15 October 2003 making
total limit to Rs 353.050 Millions (registered on 27 October 2003 as document
no 374) and on 19 March 2005 the limits are 220.155 Millions (The Saraswat
Co-op Bank Limited ---- Rs 78.075 Millions, Bharat Overseas Bank Limited Rs
78.580 Millions and HDFC Sank Rs 63.500 Millions). (registered on 10 March
2005 as document no 4.8] Now by present modification dated 23 March 2005 HDFC
Banks cash credit — Rs 3.500 Millions and WCDL RS 60 Millions limits is
interchangeable with Packing Credit limit .The Limit of other consortium
banks are unchanged. |
|
Corporate identity number of the company |
U36991MH1955PTC009500 |
|
Name of the company |
HINDUSTAN PENCILS Private LIMITED |
|
Address of the registered office or of the principal place
of business in |
111/112 Himalaya House, |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable Property |
|
Particular of charge holder |
THE SHAMRAO VITHAL CO-OPERATIVE BANK LIMITED Maker Towers 'E', 1st floor, Cuffe Parade,
Mumbai 400005, Maharashtra, India |
|
Nature of instrument creating charge |
No instrument was executed. However, the equitable
mortgage has been extended, by way of constructive delivery, over the
immoveable property more particularly described in Column (15) hereof. |
|
Date of instrument Creating the charge |
23.09.2010 |
|
Amount secured by the charge |
Rs.105.442 millions |
|
Brief of the principal terms an conditions and extent and
operation of the charge |
Rate of Interest As may be decided, from time to time, by the Bank. Terms of Repayment Term loan of Rs. 29.642 Millions; repayable by way of 54
EMIs of Rs. 0.550 Millions. (Moratorium of 6 months interest to be serviced seperately
) Margin As may be decided, from time to time, by the Bank. Extent and Operation of the charge To secure the due repayment of the following credit
facilities aggregating Rs.105.442 Millions (enhanced from Rs.75.800
Millions), together with all interest, costs, charges and expenses thereon,
granted by the Bank to the Company. 1) Term Loans of Rs.39.200 Millions and Rs.36.600 Millions
(Both Existing) 2) Term Loan of Rs.29.642 Millions (Fresh) |
|
Short particular of the property or asset(s) charged |
NA Land bearing Survey No.90(P), adm. 5 Hector 11 Are 42
sq.mts. i.e.51142.31 sq.mts., at Vill.- Tumb, Tal.- Umargam, Dist.- Valsad, |
|
Particulars of the present modification |
By this modification, the immoveable property/(ies), so
mortgaged, shall now hold good to secure additional Term Loan of Rs.29.642 Millions,
granted to the Company. Hence, the aggregate Credit facilities, secured by
charge, have been enhanced from Rs.75.800 Millions to Rs.105.442 Millions.
(Being Term Loans of Rs.39.200 Millions, Rs.36.600 Millions & Rs.29.642
Millions).Therefore, the overall charge now stands at Rs.105.442 Millions. |
CONTINGENT LIABILITIES
|
PARTICULARS |
AS
ON 31.03.2010 Rs
in Millions |
|
|
|
|
|
|
|
i)
Bank Guarantee |
0.350 |
|
|
ii)
Excise Duty Demand in appeal |
0.418 |
|
|
iii)
Estimated amount of contracts remaining to be executed on capital account and
not provided for. |
|
|
|
(Advance
Rs. 30.618 Millions Previous year 4.107 Millions) |
31.709 |
|
|
iv)
Sales Tax Liability |
|
|
|
v)
Letter of Credit outstanding |
12.912 |
|
|
TOTAL |
45.389 |
FIXED
ASSETS
·
Land
·
Leasehold – Land
·
·
Building
·
Office Premises
·
Office Equipments
·
Plant And Machinery
·
Moulds
·
Electrical Installation
·
Factory Equipments
·
Furniture and Fixtures
·
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.44.94 |
|
|
1 |
Rs. 73.46 |
|
Euro |
1 |
Rs. 64.58 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.