1. Summary Information
|
|
|
Country |
|
|
Company Name |
Merino Panel
Products Limited |
Principal Name 1 |
Mr. Prakash Lohia |
|
Status |
Good |
Principal Name 2 |
Mr. Champalal Lohia |
|
|
|
Registration # |
21-64386 |
|
Street Address |
5, |
||
|
Established Date |
08.08.1994 |
SIC Code |
-- |
|
Telephone# |
91-33-22479291 /
22470976 / 22472758 / 22477587/ 22901214 / 22872758 |
Business Style 1 |
Manufacturing |
|
Fax # |
91-33-22400314 /
22476103/ 22906103 / 91-1276-278337 |
Business Style 2 |
Exporting |
|
Homepage |
Product Name 1 |
Decorative Laminates |
|
|
# of employees |
1000
(Approximately) |
Product Name 2 |
Plywood |
|
Paid up capital |
Rs.20,000,000/- |
Product Name 3 |
Panal Products |
|
Shareholders |
Bodies Corporate (99.00) Directors or relatives of directors (1.00) |
Banking |
Axis
Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
17 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
|
Merino Industries Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
403,830,000 |
Current Liabilities |
183,530,000 |
|
Inventories |
278,159,000 |
Long-term Liabilities |
329,851,000 |
|
Fixed Assets |
289,447,000 |
Other Liabilities |
61,299,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
574,680,000 |
|
Invest& other Assets |
16,009,000 |
Retained Earnings |
392,765,000 |
|
|
|
Net Worth |
412,765,000 |
|
Total Assets |
987,445,000 |
Total Liab. & Equity |
987,445,000 |
|
Total Assets (Previous Year) |
897,625,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,473,043,000 |
Net Profit |
144,573,000 |
|
Sales(Previous yr) |
1,312,351,000 |
Net Profit(Prev.yr) |
43,438,000 |
MIRA
INFORM REPORT
|
Report Date : |
14.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
MERINO PANEL PRODUCTS LIMITED |
|
|
|
|
Registered Office : |
5, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
08.08.1994 |
|
|
|
|
Com. Reg. No.: |
21-64386 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.20.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U20299WB1994PLC064386 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALM02677D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Decorative Laminates. |
|
|
|
|
No. of Employees: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. Financial position
of the company is good. Trade relations reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Rajiv |
|
Designation : |
AGM Account Manager |
|
Contact No.: |
91-11-45557000 |
|
Date : |
11.11.2011 |
LOCATIONS
|
Registered/ Head Office : |
5, |
|
Tel. No.: |
91-33-22479291 / 22470976 / 22472758 /
22477587/ 22901214 / 22872758 |
|
Fax No.: |
91-33-22400314 / 22476103/ 22906103 /
91-1276-278337 |
|
Telex |
021-2387 LNGX IN |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Large |
|
Location : |
Owned |
|
|
|
|
Factory : |
44 km. Stone, Delhi-Rohtak Road, Village and P.O. Rohad, District - Jhajjar, Haryana – 124501, India |
|
Tel No.: |
91-1276-2376335/ 7/ 8/ 9/ 2376333/ |
|
Fax No.: |
91-1276-276336/ 37 |
|
Email : |
|
|
|
|
|
Regional Office/ Export Office : |
B-41, |
|
Tel No.: |
91-11-27180241/ 27181632/ 27181430/ 27103695/ 27103696 |
|
Fax No.: |
91-11-27183524/ 27104763 |
|
Email : |
|
|
|
|
|
Branches/ Marketing Office : |
Located at ·
Ahmedabad ·
·
·
Chennai ·
·
·
·
·
Jaipur ·
Mumbai ·
·
Pune ·
Tinsukia |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Prakash Lohia |
|
Designation : |
Managing Director |
|
Address : |
Vrindavan Apartment, 4th Floor, 55/ 1 Kabi
Bharati Sarani, Kolkata - 700029, West |
|
Date of Birth/Age : |
10.07.1952 |
|
Date of Appointment : |
08.08.1994 |
|
DIN No.: |
00063274 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U51909WB1965PLC026556 |
Merino
Industries Limited |
Managing
director |
01-03-11 |
14-07-76 |
Active |
NO |
|
2 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Director |
08-08-94 |
08-08-94 |
Active |
NO |
|
3 |
U51109WB1993PLC058257 |
Merino Services
Limited |
Director |
27-09-07 |
15-02-07 |
Active |
NO |
|
|
|
|
Name : |
Mr. Champalal Lohia |
|
Designation : |
Executive Vice Chairman |
|
Address : |
44/78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
09.03.1934 |
|
Date of Appointment : |
08.08.1994 |
|
DIN No.: |
00154019 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U51909WB1965PLC026556 |
Merino
Industries Limited |
Whole-time
director |
01-03-10 |
15-01-68 |
Active |
NO |
|
2 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Director |
08-08-94 |
08-08-94 |
Active |
NO |
|
|
|
|
Name : |
Mr. Rup Chand Lohia |
|
Designation : |
Director |
|
Address : |
Flat No. 4D, 4th Floor, |
|
Date of Birth/Age : |
16.01.1940 |
|
Date of Appointment : |
08.08.1994 |
|
DIN No.: |
00063290 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current designation
of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Director |
08-08-94 |
08-08-94 |
Active |
NO |
|
2 |
U70101WB1988PTC044285 |
Merino Exports
Private Limited |
Director |
01-04-96 |
01-04-96 |
Active |
NO |
|
3 |
U25200MH1955NPL009601 |
The Plastics
Export Promotion Council |
Director |
18-10-96 |
18-10-96 |
Active |
NO |
|
4 |
U51909WB1965PLC026556 |
Merino
Industries Limited |
Whole-time
director |
01-01-10 |
01-01-02 |
Active |
NO |
|
|
|
|
Name : |
Mr. Bikash Lohia |
|
Designation : |
Director |
|
Address : |
44/78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
27.05.1970 |
|
Date of Appointment : |
01.12.1994 |
|
DIN No.: |
00154013 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Director |
01-10-06 |
01-12-94 |
Active |
NO |
|
2 |
U51909WB1965PLC026556 |
Merino
Industries Limited |
Whole-time
director |
01-10-09 |
01-10-06 |
Active |
NO |
|
3 |
U51109WB1993PLC058257 |
Merino Services
Limited |
Director |
27-09-07 |
15-02-07 |
Active |
NO |
|
|
|
|
Name : |
Mr. Ashok Kumar Parui |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
27.12.1950 |
|
Date of Appointment : |
01.10.1998 |
|
DIN No.: |
0061267 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of appointment
at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Director |
01-10-98 |
01-10-98 |
Active |
NO |
|
2 |
U51109WB1993PLC058257 |
Merino Services
Limited |
Director |
27-09-07 |
15-02-07 |
Active |
NO |
|
|
|
|
Name : |
Mr. Anil Jajoo |
|
Designation : |
Director |
|
Address : |
44/2/27, |
|
Date of Birth/Age : |
10.07.1968 |
|
Date of Appointment : |
01.01.2004 |
|
DIN No.: |
00063284 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U63022WB1993PTC058460 |
Gopi Cold
Storage Private Limited |
Director |
14-08-97 |
14-08-97 |
Active |
NO |
|
2 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Director |
01-01-04 |
01-01-04 |
Active |
NO |
|
|
|
|
Name : |
Mr. Manoj Rupchand Lohia |
|
Designation : |
Whole-Time- Director |
|
Address : |
|
|
Date of Birth/Age : |
17.02.1972 |
|
Qualification : |
B.Com |
|
Experience : |
13 Years |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00127775 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U70101WB1988PTC044285 |
Merino Exports
Private Limited |
Director |
31-07-08 |
01-04-00 |
Active |
NO |
|
2 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Whole-time
director |
01-08-11 |
01-06-04 |
Active |
NO |
|
|
|
|
Name : |
Mr. Deepak Champa Lal Lohia |
|
Designation : |
Whole Time Director |
|
Address : |
H. No. 44, Gali No. 78, Punjabi Bagh, New Delhi-110026, |
|
Date of Birth/Age : |
26.04.1976 |
|
Qualification : |
B.E. (Mechanical) |
|
Experience : |
12 Years |
|
Date of Appointment : |
01.08.2008 |
|
DIN No.: |
00154027 |
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U20299WB1994PLC064386 |
Merino Panel
Products Limited |
Whole-time
director |
01-08-11 |
01-04-00 |
Active |
NO |
|
2 |
U63022WB1993PTC058460 |
Gopi Cold
Storage Private Limited |
Director |
31-07-08 |
01-10-06 |
Active |
NO |
|
3 |
U51109WB1993PLC058257 |
Merino Services
Limited |
Director |
27-09-07 |
15-02-07 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Ms. Sumantra Singh |
|
Designation : |
Company Secretary |
|
Address: |
Flat No. 301, 3rd Floor, 36, |
|
Date of Birth/ Age: |
06.02.1968 |
|
Date of Appointment: |
16.09.2005 |
|
|
|
|
Name : |
Mr. Rajiv |
|
Designation : |
AGM Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Man Kumar Lohia |
|
1000 |
|
Champalal Lohia |
|
1000 |
|
Rupchand Lohia |
|
1000 |
|
Prakash Lohia |
|
1000 |
|
Prasan Lohia |
|
1900 |
|
Bikash Lohia |
|
2480 |
|
Manoj Lohia |
|
1860 |
|
Merion Industries Limited, West |
|
1493000 |
|
Merion Exports Private Limited, West |
|
490000 |
|
Deepak Lohia |
|
2300 |
|
Madhusudan Lohia |
|
2760 |
|
Ruchira Lohia |
|
1700 |
|
Total |
|
2000000 |
Equity Share Breakup (Percentage of Total Equity)
(As on 30.09.2010)
|
Category |
|
Percentage |
|
Bodies Corporate (Not Mentioned above) |
|
99.00 |
|
Directors or relatives of directors |
|
1.00 |
|
Total |
|
100.00
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Decorative Laminates. |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Brand Name : |
“MERINO” |
||||||||||
|
|
|
||||||||||
|
Exports |
|
||||||||||
|
Countries : |
·
·
·
·
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
L/C, Cash and Credit (30 days) |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
Cash and Credit (30 days) |
PRODUCTION STATUS AS ON (31.03.2010)
|
Particulars |
Unit |
|
|
Actual
Production |
|
Electricity |
MT |
|
|
33.17 |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
OEM’s ·
Industries |
|
|
|
|
No. of Employees : |
1000 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of ·
Axis Bank Limited, 4/10, OPG House, · Axis Bank Limited, Kolkata Main Branch, 7, Shakespeare Sarnai, Kolkata-700071, West Bengal, India |
|
|
|
|
Banking
Relations : |
Good |
|
|
|
|
Auditors : |
|
|
Name : |
Price Waterhouse Chartered Accountants |
|
Address : |
Plot No.Y14, Block – EP, Sector V |
|
|
|
|
Holding Company: |
Merino Industries Limited U51909WB1965PLC026556 |
|
|
|
|
Entities over which key Management personnel together with their
relatives have control: |
As on 31.03.2009 · Merinos Services Limited · Man Kumar Lohia And Brothers · Kasturbai Cold Storage Private Limited · Gopi Cold Storage Private Limited · Sri Hara Kasturi Memorial Trust |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2750000 |
Equity Shares |
Rs.10/- each |
Rs.27.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
392.765 |
280.950 |
237.512 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
412.765 |
300.950 |
257.512 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
281.250 |
361.136 |
207.902 |
|
|
2] Unsecured Loans |
48.601 |
64.319 |
67.728 |
|
|
TOTAL BORROWING |
329.851 |
425.455 |
275.630 |
|
|
DEFERRED TAX LIABILITIES |
28.141 |
27.843 |
32.968 |
|
|
|
|
|
|
|
|
TOTAL |
770.757 |
754.248 |
566.110 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
289.447 |
264.139 |
266.554 |
|
|
Capital work-in-progress |
16.009 |
6.286 |
4.962 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
278.159
|
239.005 |
292.553 |
|
|
Sundry Debtors |
251.082
|
227.214 |
206.454 |
|
|
Cash & Bank Balances |
4.557
|
93.908 |
4.533 |
|
|
Other Current Assets |
11.330
|
9.269 |
16.504 |
|
|
Loans & Advances |
136.861
|
57.804 |
8.361 |
|
Total
Current Assets |
681.989
|
627.200 |
528.405 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
117.769 |
111.601 |
|
|
Other Current Liabilities |
|
|
109.506 |
|
|
Provisions |
33.158
|
25.608 |
12.704 |
|
Total
Current Liabilities |
216.688
|
143.377 |
233.811 |
|
|
Net Current Assets |
465.301
|
483.823 |
294.594 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
770.757 |
754.248 |
566.110 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1473.043 |
1312.351 |
1245.156 |
|
|
|
Other Income |
43.452 |
23.227 |
15.535 |
|
|
|
TOTAL (A) |
1516.495 |
1335.578 |
1260.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
104.063 |
38.550 |
50.444 |
|
|
|
Consumption of Raw Materials |
806.872 |
839.742 |
796.045 |
|
|
|
Expenses |
322.306 |
311.258 |
268.650 |
|
|
|
TOTAL (B) |
1233.241 |
1189.550 |
1115.139 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
283.254 |
146.028 |
145.552 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
13.976 |
33.753 |
28.405 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
269.278 |
112.275 |
117.147 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
40.451 |
41.762 |
38.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
228.827 |
70.513 |
79.055 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
84.254 |
27.075 |
29.016 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
144.573 |
43.438 |
50.039 |
|
|
|
|
|
|
|
|
|
Add |
Excess Provision of Income Tax for earlier years written back |
-- |
-- |
1.226 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
250.950 |
207.512 |
156.247 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
14.457 |
-- |
-- |
|
|
|
Interim Dividend |
28.000 |
-- |
-- |
|
|
|
Tax on Dividend |
4.758 |
-- |
-- |
|
|
BALANCE CARRIED
TO THE B/S |
348.308 |
250.950 |
207.512 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
505.441 |
NA |
365.007 |
|
|
TOTAL EARNINGS |
505.441 |
NA |
365.007 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
514.714 |
NA |
417.232 |
|
|
|
Stores & Spares |
0.466 |
NA |
2.040 |
|
|
|
Capital Goods |
21.220 |
NA |
20.069 |
|
|
TOTAL IMPORTS |
536.400 |
NA |
439.341 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
72.29 |
21.72 |
25.02 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
2000.000 |
Expected Sales (2011-2012) : Above Rs.2500.000 millions
The above information has been parted by Mr. Rajiv
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.53
|
3.25 |
3.97 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.53
|
5.37 |
6.35 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.56
|
7.91 |
9.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.23 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.32
|
1.89 |
1.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.15
|
4.37 |
2.26 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
YES |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
YES |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last three years |
YES |
|
12. |
Profitability for last three years |
NO |
|
13. |
Reasons for variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
NO |
|
16. |
Details of sister concerns |
YES |
|
17. |
Major Suppliers |
NO |
|
18. |
Major Customers |
NO |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
YES |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
-- |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
OPERATIONS
The year had been the best in the history of the company so far and the
Directors are hopeful that further improved results would be posted in the
coming year. During the year, the company’s net sales continued to increase as
compared with that of the previous year by Rs.160.700 Millions and the Profit
before tax also increased substantially to about Rs.228.800 Millions as against
Rs.70.500 Millions in the previous year.
FORM 8
|
Corporate
identity number of the company |
U20299WB1994PLC064386 |
|
Name of the
company |
MERINO PANEL PRODUCTS LIMITED |
|
Address of the
registered office or of the principal place of business in |
|
|
This form is for |
Creation of
Charge |
|
Type of charge |
Others |
|
Particular of
charge holder |
Axis Bank Limited, 4/10, OPG House, |
|
Nature of
instrument creating charge |
Deed of Guarantee |
|
Date of
instrument Creating the charge |
21.05.2011 |
|
Amount secured by
the charge |
Rs. 25.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction letter
no. AXISB/DEL/SMEC/2010-11/15076 DATED 22.02.2011 to be amended form time to
time Terms of
Repayment As per sanction
letter no. AXISB/DEL/SMEC/2010-11/15076 DATED 22.02.2011 to be amended form
time to time Margin As per sanction
letter no. AXISB/DEL/SMEC/2010-11/15076 DATED 22.02.2011 to be amended form
time to time Extent and
Operation of the charge Extent and
Operation – 100% Others The above is to
secure the following credit facilities granted by the bank to Merion Services
Limited:- Cash Credit : Rs.
10.000 Millions Term Loan : Rs.
5.000 Millions Bank Guarantee:
Rs. 10.000 Millions |
|
Short particulars
of the property charged |
Corporate
Guarantee of the Company. |
FIXED ASSETS
·
·
·
· Other Building
· Plant And Machinery
· Electrical Fittings
· Furniture
· Vehicles
· Office Equipment
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.50.27 |
|
|
1 |
Rs.80.07 |
|
Euro |
1 |
Rs.68.45 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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.