MIRA
INFORM REPORT
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Report Date : |
31.03.2011 |
IDENTIFICATION DETAILS
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Name : |
ALCHEM INTERNATIONAL LIMITED |
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Registered
Office : |
301, Avalon Apartments, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.04.1982 |
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Com. Reg. No.: |
55-13415 |
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CIN No.: [Company Identification
No.] |
U74899DL1982PLC013415 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELA03276A |
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PAN No.: [Permanent Account No.] |
AAACA2251L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
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Manufacturer and Exporter of Drugs and Drug Intermediates |
RATING & COMMENTS
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MIRA’s Rating : |
A (66) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2270464 |
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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 well established and a reputed company having fine track.
Financial position of the company appears to be sound. Fundamentals are strong
and healthy. 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
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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 PARTED BY (General Details)
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Name : |
Ms. Divya Mehta |
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Designation : |
Key Executive |
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Contact No.: |
91-9899168020 |
LOCATIONS
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Registered Office/ Head Office : |
301, Avalon Apartments, |
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Tel. No.: |
91-11-26803500/ 004/ 26808420 |
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Mobile No.: |
91-9899168020 (Ms. Divya Mehta) |
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Fax No. : |
91-11-26808420/ 31/ 26801170 |
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E-Mail : |
alchem.intl@elnet.ems.vsnl.net.in
raman.mehta@elnet.ems.vsnl.net.in finance@alcheminternational.com |
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Website : |
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Area : |
2700 sq. ft. |
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Location : |
Owned |
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Factory : |
25/2, |
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Tel. No.: |
91-129-25232356/ 25234008/ 25233335/ 4266000 |
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Fax No.: |
91-129-25230192/ 2307192 |
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Area : |
12 hectors |
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Location : |
Rented |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Probir Sen Gupta |
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Designation : |
Whole Time Director |
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Address : |
House No. 3294, Sector 3, Ballabgarh, Faridabad-121004, |
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Date of Birth/Age : |
15.10.1957 |
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Date of Appointment : |
21.06.1989 |
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Name : |
Mr. Ramesh Kumar |
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Designation : |
Whole Time Director |
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Address : |
25/2, Mathura Road, Faridabad-121 003, |
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Date of Birth/Age : |
20.06.1954 |
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Date of Appointment : |
01.04.1992 |
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Name : |
Mr. Mahendra Kumar Bali |
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Designation : |
Whole Time Director |
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Address : |
A-2, 240, Janakpuri, New Delhi-110 058, |
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Date of Birth/Age : |
18.09.1940 |
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Date of Appointment : |
29.09.2001 |
KEY EXECUTIVES
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Name : |
Ms. Divya Mehta |
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Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Raman Mehta |
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26415 |
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Nidhi Mehta |
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3260 |
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Bharat Mehta |
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1815 |
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Neha Mehta |
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1750 |
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Divya Mehta |
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1750 |
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Raman Mehta (HUF) |
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5 |
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Nidhi Mehta Family Trust, |
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5 |
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Total
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35000 |
AS ON 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Other
top fifty shareholders |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Drugs and Drug Intermediates |
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Products : |
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Exports : |
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Products : |
Calcium Sennosides |
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Countries : |
Brazil, Nigeria, Pakistan, Japan, Germany, Mexico, US, UAE, Ukraine,
UK, Argentina, Colombia |
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Terms : |
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Selling : |
L/C / Cash / Credit 30 days |
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Purchasing : |
Cash / Credit 30 days |
PRODUCTION STATUS AS ON 31.03.2010
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Particulars |
Unit |
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Actual
Production |
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Drugs, drugs intermediates extracts and alkaloids etc. |
Kg. |
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73354.913 |
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GENERAL INFORMATION
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Customers : |
Corporate |
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No. of Employees : |
300 |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
Housing Development Finance Corporation Limited, Ramon House 169 Backbay
Reclamation, H.T. Parekh Marg, Mumbai-400020, Maharashtra, India |
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Auditors : |
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Name : |
Jain Chopra and Company Chartered Accountants |
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Address : |
105, Jyoti Bhavan, Commercial Complex, Mukherjee Nagar, |
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Tel. No.: |
91-11-27652776/ 27652091 |
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Fax No.: |
91-11-27650155 |
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E-Mail : |
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Partnership Firm : |
Aar Pee Corporation |
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Subsidiaries : |
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Associates: |
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CAPITAL STRUCTURE
AS ON 29.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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35000 |
Equity Shares |
Rs.100/- each |
Rs.3.500
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.500 |
3.500 |
3.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
564.116 |
534.128 |
483.365 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
567.616 |
537.628 |
486.865 |
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LOAN FUNDS |
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1] Secured Loans |
726.869 |
451.770 |
324.152 |
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2] Unsecured Loans |
74.746 |
71.793 |
72.798 |
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TOTAL BORROWING |
801.615 |
523.563 |
396.950 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1369.231 |
1061.191 |
883.815 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
565.039 |
405.159 |
298.654 |
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Advance against Fixed Assets |
8.781
|
1.253 |
1.784
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Capital work-in-progress |
4.143 |
2.337 |
15.248 |
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INVESTMENT |
0.987 |
0.987 |
0.997 |
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DEFERREX TAX ASSETS |
7.023 |
7.285 |
23.699 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1137.771
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977.485 |
642.575
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Sundry Debtors |
176.028
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224.058 |
175.567
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Cash & Bank Balances |
93.779
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54.002 |
29.045
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Other Current Assets |
0.000
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0.000 |
0.000
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Loans & Advances |
198.516
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126.461 |
92.291
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Total
Current Assets |
1606.094
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1382.006 |
939.478 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
320.802
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380.081 |
231.298
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Other Current Liabilities |
465.622
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300.701 |
112.554
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Provisions |
36.412
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57.055 |
52.193
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Total
Current Liabilities |
822.836
|
737.837 |
396.045
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Net Current Assets |
783.258
|
644.170 |
543.433
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1369.231 |
1061.191 |
883.815 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
1642.196 |
1503.858 |
1092.921 |
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Other Income |
11.907 |
6.919 |
0.939 |
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TOTAL (A) |
1654.103 |
1510.777 |
1093.860 |
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Less |
EXPENSES |
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Material consumed |
1004.519 |
788.978 |
489.528 |
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Purchase |
48.248 |
43.430 |
36.967 |
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Manufacturing expenses |
204.801 |
162.549 |
147.068 |
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Administrative expenses |
252.738 |
219.925 |
168.643 |
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Selling and distribution expenses |
56.494 |
59.679 |
51.764 |
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Other expenses |
83.858 |
89.280 |
63.690 |
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Prior Period Items |
0.039 |
0.844 |
0.661 |
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Increase in stock |
(177.736) |
(67.801) |
(8.915) |
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TOTAL (B) |
1472.961 |
1296.884 |
949.406 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
181.142 |
213.893 |
144.454 |
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Less |
FINANCIAL
EXPENSES (D) |
48.749 |
46.299 |
39.978 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
132.393 |
167.594 |
104.476 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
0.000 |
54.769 |
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PROFIT BEFORE
TAX (E-F) (G) |
132.393 |
167.594 |
49.707 |
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Less |
TAX (H) |
101.586 |
116.217 |
2.563 |
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PROFIT AFTER TAX
(G-H)
(I) |
30.807 |
51.377 |
47.144 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
324.128 |
273.365 |
226.835 |
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Less |
APPROPRIATIONS |
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Dividend |
0.700 |
0.525 |
0.525 |
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Tax on Dividend |
0.119 |
0.089 |
0.089 |
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BALANCE CARRIED
TO THE B/S |
354.116 |
324.128 |
273.365 |
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EARNINGS IN
FOREIGN CURRENCY |
1312.184 |
1270.075 |
0.749 |
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IMPORTS |
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Raw Materials |
164.804 |
287.614 |
0.150 |
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Stores & Spares |
6.635 |
2.855 |
0.000 |
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Capital Goods |
0.208 |
0.000 |
0.000 |
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TOTAL IMPORTS |
171.647 |
290.469 |
0.150 |
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Earnings Per
Share (Rs.) |
880.21 |
1467.92 |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.86
|
3.40 |
4.31
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Net Profit Margin (PBT/Sales) |
(%) |
8.06
|
11.14 |
4.55
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.42
|
9.38 |
4.01
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Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.31 |
0.10
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Debt Equity Ratio (Total Liability/Networth) |
|
2.86
|
2.35 |
1.63
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Current Ratio (Current Asset/Current Liability) |
|
1.95
|
1.87 |
2.37
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LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from
201,
Bankers Charges
Report as per Registry
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Name of the company |
ALCHEM INTERNATIONAL LIMITED |
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Presented By |
Mr. M K Bali |
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1) Date and description of instrument creating the change |
Agreement of loan for overall limit dated 30.12.2003 Regd. On – 16.02.2004 Agreement of hypothecation of goods and assets dated 30.12.2003 Letter regarding the grant of individual limits within the overall limit dated 30.12.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
C. C. – Rs. 50.000 Millions EPC/FBP – Rs. 70.000 Millions Total FBL – Rs. 120.000 Millions LC (Domestic/Foreign) – Rs. 5.000 Millions (With 100% interchangeability between L/C and BG) Total NFB – Rs. 5.000 Millions Grand Total – Rs. 125.000 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Primary – CC (Hypothecation/EPC/FBP/LC : Hypothecation of stocks and receivable including present and future both Collateral Pari Passu charge with other members banks, on fixed assets of the company excluding those which are specifically charged to Citi Bank having residue value of Rs. 1400.000 Millions as on 31.03.2003 In addition, pari passu charge following immovable properties along with ABN Amro Bank and Citibank 4, Empire Estate, 502, Empire Apartment, Flat No. 301, Avion Apartment, Mangalapuri Mahrauli, Flat No. 303, Avion Apartment, Mangalapuri Mahrauli, 3, Empire Estate, Factory land and building, consisting of area of 29.70 acres located at NH – 2, Ballabhgarh in the name of arpee corporation |
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4) Gist of the terms and conditions and extent and operation of the charge. |
EPC (upto 180 days) – Interest as per RBI/SBI directive subject to change regarding export finance Cash Credit (Hypothecation) – Interest as applicable to SB – 2 rating presently 1.50% above SBAR minimum 12.00% applied at monthly rests Margin – Drawings under EPC will be permitted to the maximum extent of LC or firm export order subject to availability drawing power against stock held by the company Margins Inventors shall be 25% Domestic receivable shall be 25% Export receivable shall be |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Supplementary agreement of lan for increased in the overall limit dated 02.05.2005 Supplementary deed of grantee for increased in overall limit dated 02.05.2005 Letter regarding the grant of individual limit with in the overall limit dated 02.05.2005 Letter for NOC from ABN Bank bearing no. CA/05/1388 dated 24.09.2005 |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
C.C. – Existing – Rs. 50.000 Millions, Revised Limit – Rs. 50.000 Millions EOC/FBP – Rs. 70.000 Millions, Revised Limit – Rs. 70.000 Millions SLC - Rs. 0.000 Millions, Revised Limit – Rs. 24.000 Millions LC - Rs. 5.000 Millions, Revised Limit – Rs. 5.000 Millions Total NFB - Rs. 5.000 Millions, Revised Limit – Rs. 5.000 Millions Total - Rs. 125.000 Millions, Revised Limit – Rs. 149.000 Millions Term Loan - Rs. 40.000 Millions, Revised Limit – Rs. 40.000 Millions Primary – CC (Hypothecation/EPC/FBP/LC Pari Passu charge on current assets of the company including present and future Collateral Pari Passu charge with other members banks, on fixed assets of the company excluding those which are specifically charged to Citi Bank |
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This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80000449 |
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Corporate
identity number of the company |
U74899DL1982PLC013415 |
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Name of the
company |
ALCHEM
INTERNATIONAL LIMITED |
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Address of the
registered office or of the principal place of business in |
301, Avalon Apartments, |
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Type of charge |
Immovable
Property Any Interest In
Immovable Property Book Debts Movable Property
(not being pledge) |
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Particular of
charge holder |
State bank of |
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Email |
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Nature of description
of the instrument creating or modifying the charge |
i) Supplemental
Agreement of Loan for increase in the
Overall Limit ii) Supplemental
Agreement of Hypothecation of Goods and Assets for increase in the Overall
Limit iii) Letter
regarding the grant of individual limits within the Overall Limit iv) Confirmatory
Letters regarding deposit of title deeds |
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Date of
instrument Creating the charge |
12.02.2010 |
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Amount secured by
the charge |
Rs.1046.300
Million |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC/Term Loan I -
at SBAR, EPC/FBP/FBD/SLC - At SBI Exporters Gold Card Holder, TL-II - At 0.25% above SBAR, Term Loan-III/Corp.
Loan - At 0.50% above SBAR, LC/BG- As applicable under Bank guidelines. Terms of
Repayment WC - Payable on
demand. Revised Repayment Sch. of TL II - The co. has already paid 7 mthly
installments of Rs.1.875 millions till Dec.09. Balance TL will be repaid in
41 mthly installments i.e. 1st installment of Rs.18.75 and 40 installments of Rs. 125 millions. TL III
is to be repaid in 42 mthly installments i.e. 41 installments of Rs. 2.4
millions and last installment of Rs. 1.6 millions. Corp. Loan is to be repaid
in 30 mthly installments i.e. 29 installments of Rs.1.675 millions and last
installment of Rs.1.425 millions. Margin Raw Material
(Domestic/Imported), Stock-in-Process, Finished Goods, Book debts/Receivables
(cover period 90 days) - 25%. Letter of Credit - 10%, Bank Guarantee - 10%.
However, against disputed liability Bank Guarantee, 100% cash margin will be
retained. Extent and
Operation of the charge i) The pari-passu
charge operates till the repayment of all the dues together with interest and
all other charges in respect of credit facilities availed/to be availed by
the company from the bank. ii) Other terms
and conditions as per Arrangement
Letter No. OBND/RM-II/2009-10/562 dated 06.02.2010. Others The above is to secure
credit facilities amounting to Rs. 1046.3 millions i.e. CC* - Rs. 85.0 millions, EPC/FBP/FBD* - Rs. 245.0
millions, EPC (peak level limit)-Rs. 320 millions, SLC - Rs. 52.0 millions,
Forward - Rs. 02.0 millions, TL I -Rs. 08.6 millions, TL II - Rs. 48.7
millions, TL III (New) - Rs. 100 millions, Corporate Loan (New) - Rs. 50.000
millions, LC/BG^ - Rs.135.000
millions, * with 100% interchangeability between EPC/FBP/FBD as well as one
way interchangeability to the tune of
Rs. 60.000 millions from CC to
EPC/FBP/FBD ^100% intechangeability. |
|
Short particulars
of the property charged |
I) A. SECURITY
CHARGED FOR SECURING WORKING CAPITAL FACILITIES : Primary Security:
First pari-passu charge over entire current assets of the company including
receivables, both present and future, II) with other
secured WC lenders in MBA i.e. Citi Bank. III) Collateral
Security : First pari-passu charge over fixed assets of the company
(excluding those assets which are/will be exclusively charged to SBI for
securing term loans) with other secured working IV) capital
lenders. First pari-passu charge on the fixed assets including equitable
mortgage of properties mentioned below (a to e): V) a) Nine Flats
i.e. Flat Nos. 201, 203, 205, 207, 209, 211, 213, 215 and 217 situated at
Plot No. 201, Empire Plaza, Mehrauli Gurgaon Rd, Sultanpur, New Delhi owned
by the company(Area 76970 sq. mtrs). VI) b) House No.
377, Sector-16A, c) House No.
3294, Sector-3, VII) d) No.25/2, e) VIII) B. SECURITY
CHARGED FOR SECURING CORPORATE/TERM
LOAN : Primary Security:
Exclusive charge over fixed assets financed out of the Corporate and Term
Loans. IX) Collateral
Security : i) First
pari-passu charge along with other Banks in the MBA over fixed assets of the company,
less assets exclusively charged to State Bank of X) ii) Second exclusive charge on entire
current assets of the company including receivables, both present and future. |
|
Date of latest
modification prior to the present modification |
20.05.2009 |
|
Particulars of
the present modification |
i) The extent and
operation of charge stands enhanced from Rs. 594.9 millions to Rs.1046.3
millions. The revised credit facilities
are secured by : a) WC :1st P/P charge on entire C/A incl. receivables
and 1st P/P charge over F/A of the co. incl. EM of immovable properties b)
TL/CL : Exclusive charge over F/A financed out of the loan and 1st P/P charge along with Citi Bank over
F/A of the co. and 2nd exclusive charge on entire C/A including receivables |
|
Corporate
identity number of the company |
U74899DL1982PLC013415 |
|
Name of the
company |
ALCHEM
INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
301, Avalon Apartments, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Immovable
Property Any Interest In
Immovable Property Movable Property Floating Charge |
|
Particular of
charge holder |
STATE BANK OF |
|
Nature of
instrument creating charge |
i) Agreement of
Loan for Overall Limit ii) Agreement of
Hypothecation of Goods and Assets iii) Letter
regarding the grant of individual limits within the Overall Limit iv) Confirmatory
Letter regarding redeposit of Title
Deeds |
|
Date of
instrument Creating the charge |
11/02/2011 |
|
Amount secured by
the charge |
Rs.964.300
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest CC - At 4.90%
above BR, presently EPC/FBP/FBD/SLC -
At SBI Exporters Gold Card Scheme, TL-I -
At 5.15% above BR, Term Loan-II/Corp. Loan - At 5.40% above BR,
subject to change from time to time. Terms of
Repayment WC - Payable on
demand. Term Loan I/II and Corporate Loan is to be repaid as per existing
repayment Schedule. EPC (Peak level
limit) of Rs.27 cr. is to be liquidated in 8 (eight) equal monthly instalments
of Rs.3.375 cr. beginning from May 2011 till Dec 2011. Margin Raw Material
(Domestic/Imported), Stock-in-Process, Finished Goods, Book debts/Receivables
(cover period 90 days) - 25%. Letter of Credit - 10%, Bank Guarantee - 10%. However, against
disputed liability Bank Guarantee, 100% cash margin will be retained. Extent and
Operation of the charge i) The pari-passu
charge operates till the repayment of all the dues together with interest and
all other charges in respect of credit facilities availed/to be availed by
the company from the bank. ii) Other terms
& conditions as per Arrangement Letter No. SBI/OBND/RM-II/2010-11/499
dated 29.01.2011. Others The above is to
secure the credit facilities amounting to Rs. 964.300 Millions i.e. CC*
- Rs. 85.000 Millions, EPC/FBP/FBD* -
Rs. 245.000 Millions, EPC (peak level limit)-Rs. 270.000 Millions, SLC - Rs.
52.000 Millions, Forward - Rs.2.000 Millions, TL I -Rs. 33.200 Millions, TL
II - Rs. 100.000 Millions, Corporate Loan - Rs. 4.21 crs, LC/BG^ - Rs.135.000 Millions, * with 100% interchangeability between
EPC/FBP/FBD as well as one way interchangeability to the tune of Rs. 60.000 Millions from CC to EPC/FBP/FBD ^100% intechangeability
between LC and BG. |
|
Short particulars
of the property charged |
A. SECURITY
CHARGED FOR SECURING WORKING CAPITAL FACILITIES : Primary Security:
First pari-passu charge over entire current assets of the company including
receivables, both present and future,
with other secured WC lenders in MBA i.e. Citi Bank. Collateral Security :
First pari-passu charge over fixed assets of the company (excluding those
assets which are exclusively charged to SBI for securing term loans) with
other secured working capital lenders. First pari-passu charge on the fixed
assets including equitable mortgage of properties mentioned below (a to e): a) Nine Flats
i.e. Flat Nos. 201, 203, 205, 207, 209, 211, 213, 215 and 217 situated at
Plot No. 201, Empire Plaza, Mehrauli Gurgaon Rd, Sultanpur, New Delhi owned
by the company(Area 76970 sq. mtrs). b) House No. 377,
Sector-16A, c) House No.
3294, Sector-3, d) No.25/2, e) B. SECURITY
CHARGED FOR SECURING CORPORATE/TERM
LOAN : Primary Security
: Exclusive charge over fixed assets financed out of the Corporate and Term Loans. Collateral
Security : i)
First
pari-passu charge along with other Banks in the MBA over fixed assets of the
company, excluding assets exclusively charged to State Bank of ii)
ii)
Second charge on entire current assets of the company including receivables,
both present and future. |
|
Date of
instrument modifying the charge |
12/02/2010 |
|
Particulars of
the present modification |
i) The extent and
operation of charge stands reduced
from Rs. 104.63 crores to Rs. 964.300 Millions. The revised credit facilities are secured by : a) WC :1st P/P charge on
entire C/A incl. receivables and 1st P/P charge over F/A of the co. incl. EM
of immovable properties b) TL/CL : Exclusive charge over F/A financed out of
the loan and 1st P/P charge along with Citi Bank over F/A of the co. and 2nd
charge on entire C/A incl. receivables more particularly described in S. No.
15 of Form 8. |
TRADE REFERENCES:
·
Shefa Engineers Private
Limited,
·
Sunesons Engineers and
Fabrications Private Limited, Navi Mumbai
FIXED ASSETS:
- Land
- Lab Apparatus
- Computer Accessories
- Road Development
- Electrical Fittings and Equipments
- Machinery and Equipments
- Air Conditioner
- Vehicles
- Office Equipments
- Pollution Treatment Plant
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.44.77 |
|
|
1 |
Rs.71.69 |
|
Euro |
1 |
Rs.63.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
66 |
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.