1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SIMMONDS MARSHALL LIMITED |
Principal Name 1 |
Mr. S. J.
Marshall |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. N. S.
Marshall |
|
|
|
Registration # |
11-011645 |
|
Street Address |
Mumbai-Pune Road, Kasarwadi, Pune-411034, Maharashtra |
||
|
Established Date |
16.04.1960 |
SIC Code |
-- |
|
Telephone# |
91-20-30782152 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-20-30782195 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Nyloc Self Locking Nuts |
|
|
# of employees |
200 [Approximately] |
Product Name 2 |
-- |
|
Paid up capital |
Rs.22,400,000/- |
Product Name 3 |
-- |
|
Shareholders |
Promoter and
Promoter Group 54.44%, Public Shareholding 45.56% |
Banking |
Central Bank of
India |
|
Public Limited Corp. |
Yes |
Business Period |
51 Years |
|
IPO |
Yes |
International Ins. |
- |
|
Public |
Yes |
Rating |
Ba (50) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
|
-- |
Formex Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
227,708,000 |
Current Liabilities |
76,828,000 |
|
Inventories |
174,300,000 |
Long-term Liabilities |
198,127,000 |
|
Fixed Assets |
132,567,000 |
Other Liabilities |
29,066,000 |
|
Deferred Assets |
000 |
Total Liabilities |
304,021,000 |
|
Invest& other Assets |
1,279,000 |
Retained Earnings |
209,433,000 |
|
|
|
Net Worth |
231,833,000 |
|
Total Assets |
535,854,000 |
Total Liab. & Equity |
535,854,000 |
|
Total Assets (Previous Year) |
382,794,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
711,642,000 |
Net Profit |
85,254,000 |
|
Sales(Previous yr) |
481,141,000 |
Net Profit(Prev.yr) |
45,270,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
SIMMONDS MARSHALL LIMITED |
|
|
|
|
Registered
Office : |
Mumbai-Pune Road, Kasarwadi, Pune-411034, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.04.1960 |
|
|
|
|
Com. Reg. No.: |
11-011645 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.400
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L29299PN1960PLC011645 |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The company’s shares are listed on the
Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer of Nyloc Self Locking Nuts (Industrial Fasteners.) |
|
|
|
|
No. of Employees
: |
200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 920000 |
|
|
|
|
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 – 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 |
LOCATIONS
|
Registered Office / Factory: |
Mumbai-Pune Road, Kasarwadi, Pune-411034, Maharashtra |
|
Tel. No.: |
91-20-30782152 / 2160 / 2153 / 2170 / 27145285 |
|
Fax No.: |
91-20-30782195 / 27145336 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative Office: |
Apeejay Chambers, 5, Wallace Street, Mumbai-400001, Maharashtra, India
|
|
Tel. No.: |
91-22-66337425 / 6 / 7 |
|
Fax No.: |
91-22-66337433 / 66337434 |
|
Email: |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. S. J.
Marshall |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. N. S.
Marshall |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. I. M. Panju |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. C. B. Bambawale |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S. C. Saran |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. F K. Banatwalla |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. N.D. Bharucha |
|
Designation : |
Secretary and Chief Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Category of
Shareholder |
Total No. of
Shares |
Total Shareholding
as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
5,896,145 |
52.64 |
|
|
200,800 |
1.79 |
|
|
6,096,945 |
54.44 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6,096,945 |
54.44 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
500 |
- |
|
|
3,450 |
0.03 |
|
|
86,141 |
0.77 |
|
|
90,091 |
0.80 |
|
|
|
|
|
|
1,777,742 |
15.87 |
|
|
|
|
|
|
2,887,150 |
25.78 |
|
|
326,148 |
2.91 |
|
|
21,924 |
0.20 |
|
|
2,485 |
0.02 |
|
|
19,439 |
0.17 |
|
|
5,012,964 |
44.76 |
|
Total Public shareholding (B) |
5,103,055 |
45.56 |
|
Total (A)+(B) |
11,200,000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts
have been issued |
- |
- |
|
|
- |
- |
|
|
- |
- |
|
|
- |
- |
|
Total (A)+(B)+(C) |
11,200,000 |
- |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Nyloc Self Locking Nuts (Industrial Fasteners.) |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Nyloc Self Locking Nuts (Industrial Fasteners) |
Metric Tonnes |
20000 |
5500* |
243633179 Numbers [Equivalent to
3390.300 Metric Tonnes] |
Note: *Installed
Capacity is as certified by the Management and has not been verified by the
Auditors, this being a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
200 [Approximately] |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
·
Central Bank of India ·
Union Bank of India ·
The Zoroastrian Co-operative Bank Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
NOTE: (i) Term loans
are secured against hypothecation of all movable plant and machineries,
equipments and entire block of assets of the company (both present and
future) in favour of consortium of banks on pari passu basis, other than
specific assets financed by respective banks. (ii) Working
capital loans are secured by hypothecation of raw materials, finished goods,
stores and spares, book debts etc. and entire block of assets (both present
and future) in favour of consortium of banks on pari passu basis, other than
specific assets financed by respective banks. (iii) All loans
are secured against the personal guarantee of Chairman. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SHR and Company Chartered Accountants |
|
Address : |
Rewa Chambers, Marine Lines, Mumbai-400020, Maharashtra, India |
|
|
|
|
Associates: |
·
Formex Private Limited |
|
|
|
|
Enterprises in
which Key Management Personnel have significant
influence: |
·
Desmet Ballestra (India) Private Limited ·
Diamtools Private Limited ·
Jiji Marshall Trading Company Private Limited ·
J. N. Marshall and Company (Steel Department) ·
J. N. Marshall and Company - Custom House
Clearing Agents ·
J. N. Marshall and Company (Engg. Department) ·
J. N. Marshall Engineering Private Limited ·
J. N. Marshall Private Limited ·
Marshall Real Estate and Investment Corporation ·
Powair Automation Equipments Private Limited ·
S. J. Marshall Trading Company Private Limited ·
Spirax Marshall Limited |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000000 |
Equity Shares |
Rs.2/- each |
Rs.100.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11200000 |
Equity Shares |
Rs.2/- each |
Rs.22.400
Millions |
NOTE:
Of the above
Shares:
1.
63,590 Equity Shares of Rs. 2/- each allotted as
fully paid-up pursuant to a contract without payments being received in cash in
earlier year. (Previous Year 63,590 equity shares of Rs. 2/- each)
2.
5,50,000 Equity Shares of Rs. 2/- each allotted as
fully paid by way of Bonus Shares by capitalization of General Reserve in
earlier year. (Previous Year 5,50,000 equity shares of Rs. 2/- each)
3.
7,00,000 Equity Shares of Rs. 2/- each allotted on
preferential basis to the Promoters group at a premium in earlier year.
(Previous Year 7,00,000 equity shares of Rs. 2/- each)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
22.400 |
22.400 |
21.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
209.433 |
131.604 |
77.150 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
231.833 |
154.004 |
98.150 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
188.917 |
127.818 |
142.689 |
|
|
2] Unsecured Loans |
9.210 |
9.260 |
30.934 |
|
|
TOTAL BORROWING |
198.127 |
137.078 |
173.623 |
|
|
DEFERRED TAX LIABILITIES |
11.604 |
11.610 |
10.630 |
|
|
|
|
|
|
|
|
TOTAL |
441.564 |
302.692 |
282.403 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
132.567 |
115.213 |
107.871 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.279 |
1.279 |
1.279 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
174.300
|
121.262 |
121.774 |
|
|
Sundry Debtors |
170.205
|
122.218 |
81.858 |
|
|
Cash & Bank Balances |
36.863
|
13.942 |
5.679 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
20.640
|
8.880 |
45.254 |
|
Total
Current Assets |
402.008
|
266.302 |
254.565 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
75.871
|
63.751 |
33.569 |
|
|
Other Current Liabilities |
0.957
|
0.603 |
0.478 |
|
|
Provisions |
17.462
|
15.748 |
47.265 |
|
Total
Current Liabilities |
94.290
|
80.102 |
81.312 |
|
|
Net Current Assets |
307.718
|
186.200 |
173.253 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
441.564 |
302.692 |
282.403 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
711.642 |
481.141 |
326.838 |
|
|
|
Other Income |
2.567 |
3.066 |
6.492 |
|
|
|
TOTAL (A) |
714.209 |
484.207 |
333.330 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Materials and Components |
348.865 |
215.219 |
153.655 |
|
|
|
Payments to and Provisions for Employees |
97.377 |
73.279 |
59.514 |
|
|
|
Other Expenses |
129.843 |
78.297 |
62.584 |
|
|
|
Variation in Stocks |
(25.550) |
14.595 |
2.383 |
|
|
|
TOTAL (B) |
550.535 |
381.390 |
278.136 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
163.674 |
102.817 |
55.194 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.023 |
21.683 |
21.449 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140.651 |
81.134 |
33.745 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.103 |
11.385 |
7.725 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
127.548 |
69.749 |
26.020 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
42.294 |
24.479 |
9.358 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
85.254 |
45.270 |
16.662 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES
RELATING TO PRIOR YEARS |
0.878 |
0.975 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
105.304 |
71.550 |
58.836 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
13.000 |
5.300 |
1.000 |
|
|
|
Dividend |
0.946 |
0.761 |
0.428 |
|
|
|
Proposed Dividend on Equity Shares |
5.600 |
4.480 |
2.520 |
|
|
BALANCE CARRIED
TO THE B/S |
170.134 |
105.304 |
71.550 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
64.528 |
25.922 |
49.523 |
|
|
TOTAL EARNINGS |
64.528 |
25.922 |
49.523 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
155.932 |
100.227 |
75.153 |
|
|
|
Loose Tools |
25.768 |
13.847 |
12.521 |
|
|
|
Capital Goods |
10.107 |
10.389 |
22.372 |
|
|
|
Trading Purchase |
1.852 |
1.137 |
0.000 |
|
|
|
Stores |
0.000 |
0.065 |
0.081 |
|
|
TOTAL IMPORTS |
193.659 |
125.665 |
110.127 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.53 |
4.21 |
7.93 |
|
QUARTERLY RESULTS
|
PARTICULARS |
|
30.06.2011 |
30.09.2011 |
|
Type |
|
1st
Quarter |
2nd
Quarter |
|
Net Sales |
|
210.820 |
232.350 |
|
Total Expenditure |
|
164.590 |
189.740 |
|
PBIDT (Excl OI) |
|
46.230 |
42.610 |
|
Other Income |
|
0.280 |
(0.280) |
|
Operating Profit |
|
46.510 |
42.330 |
|
Interest |
|
6.650 |
5.630 |
|
PBDT |
|
39.860 |
36.700 |
|
Depreciation |
|
3.950 |
3.950 |
|
Profit Before Tax |
|
35.900 |
32.750 |
|
Tax |
|
11.650 |
10.630 |
|
Profit After Tax |
|
24.250 |
22.120 |
|
Net Profit |
|
24.250 |
22.120 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.94
|
9.35 |
5.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.92
|
14.50 |
7.96 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
23.86
|
18.28 |
7.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.55
|
0.45 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.26
|
1.41 |
2.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.26
|
3.32 |
3.13 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION:
The Indian
Automotive Industry recorded highest ever sales in 2010-11 with all segments i.e.
passenger cars, commercial vehicles and 2-wheelers showing strong growth. The
Automotive Sector grew by 27% over the previous year.
This has made
India the second fastest growing market after China. The commercial vehicle
segment grew by a robust 33% this year and the 2 wheeler segment grew by 27%
over last year. The Industry is expected to consolidate and grow overall by 15%
in 2011-2012 and beyond. The Company’s growth and performance are inextricably
linked with this segment of Industry and it is hoped that the situation will
improve further and the Company will achieve still better results.
The turnover
during the year showed a marked improvement and was Rs. 711.642 Millions
against Rs. 481.141 Millions in the previous year, registering an increase of
47.90% and the profitability has risen from Rs.69.749 Millions to Rs.127.548
Millions registering an impressive increase of 82.86%.
EXPORTS:
The Company is
continuing its efforts to improve its export performance.
During the year,
the Company exported goods worth F.O.B. Rs. 64.528 Millions against Rs.25.922
Millions in the previous year registering an impressive increase of 148.92%.
The Company hopes to do even better on this front in the future.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 (Rs. in Millions) |
31.03.2010 (Rs. in Millions) |
|
Bills discounted with Banks |
23.368 |
12.499 |
|
Bonds given by the company against import of machineries under EPCG scheme |
89.124 |
61.924 |
|
Income Tax |
4.415 |
4.415 |
|
Excise |
0.576 |
0.576 |
|
Profession Tax |
0.458 |
0.000 |
|
Capital Commitments |
28.227 |
0.000 |
|
Total |
146.168 |
79.414 |
WEBSITE DETAILS:
BUSINESS DESCRIPTION:
Subject is an India-based company. The Company is engaged in the
business of manufacturing of nyloc self locking nuts (industrial fasteners).
Its products include cleveloc self-locking nut, nyloc self-locking nut, u-nuts
and wheel nuts, cap nuts, castle nuts, hose fitting nuts, flange nuts, cage
nuts and weld nuts. The Company caters to the automotive and industrial sectors
and supplies to all the automobile manufacturers in India, as well as original
equipment (OE) suppliers. The Company offers products to General Motors, Fiat,
Honda, Caterpillar, Suzuki, Dana and New Holland. During the fiscal year ended
March 31, 2010 (fiscal 2010), the Company produced 2251.860 metric tons of
nyloc self locking nuts (industrial fasteners). During fiscal 2010, it had an installed
capacity to produce 2,400 metric tons of nyloc self locking nuts (industrial
fasteners). For the nine months ended 31 December 2010, Subject revenues
increased 51% to Rs.510.800 Millions. Net income increased 99% to Rs.61.600
Millions. Revenues reflect an increase in income from operations. Net income
also reflects lower interest expenses, the presence of gain in increase/
decrease in stock in trade and work in progress, vs. a loss. The company's
principal activity is to manufacture and market Nyloc Self Locking Nuts.
BOARD OF
DIRECTORS:
S. J. Marshall
Chairman
Mr. S. J. Marshall is Chairman of the Board of Subject. He has got an
experience of over 51 years to his credit. He is an Economics Graduate. He started
his career with the Company since inception and is looking after overall
activities of the Company.
C. B. Bambawale
Director
Mr. C. B. Bambawale is Director of Subject.
N. S. Marshall
Managing Director
Mr. N. S. Marshall is Managing Director, Director of Subject. He has got
an experience of over 9 years to his credit. He is a qualified MBA and B Sc.
Graduate. He started his career with Honeywell International, USA and is a
Managing Director of the Company since 2003. He is responsible for the overall
functioning of the Company including production, marketing and HR.
I. M. Panju
Whole Time
Director
Mr. I. M. Panju is Whole Time Director of Subject. He has got an
experience of over 25 years to his credit. He is qualified MBA and a Commerce
Graduate. He started his career with T. L. Wilson and Associates, USA and is a
Whole-time Director of the Company since 1988.
S. C. Saran
Director
Mr. S. C. Saran is Director of Subject.
PRESS RELEASES:
OUTCOME OF AGM
03 October 2011
India, October 03 -- Simmonds Marshall Limited has informed BSE that the
members at the Annual General Meeting (AGM) of the Company held on September
28, 2011, inter alia, have passed all the items as per the Agenda, given in the
Notice dated July 30, 2011. Mr. N. S. Marshall the Managing Director discussed
in brief about the expansion project of the Company and appraised the members
about the Company’s future plans.
UPDATES
ON BOOK CLOSURE AND DIVIDEND
03 October 2011
India, October 03 -- Simmonds Marshall Limited has informed BSE that:"the Company
conducted its Board Meeting on July 30, 2011 at which time Dividend of 25% and
Rs. 0.50 paisa per share was declared by the Company. An AGM was conducted by
Company on September 28, 2011, at which time shareholders have approved the
Dividend of 25% and Rs. 0.50 paisa per Share. The Book Closure from September
22, 2011 to September 28, 2011 was also for the purpose of Dividend.
FIXES BOOK CLOSURE
FOR AGM
06 August 2011
India, August 06 -- Simmonds Marshall Limited has informed BSE that the
Register of Members and Share Transfer Books of the Company will remain closed
from September 22, 2011 to September 28, 2011 (both days inclusive) for the
purpose of Annual General Meeting (AGM) of the Company.
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.51.72 |
|
|
1 |
Rs.81.42 |
|
Euro |
1 |
Rs.69.89 |
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 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.