|
Report Date : |
11.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ULTRA DRYTECH ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
502, 5th Floor, Citi Point, Rajarshi Shahu Maharaja Road,
Andheri (east), Mumbai – 400069, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
10.09.1986 |
|
|
|
|
Com. Reg. No.: |
11-040875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 41.250 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1986PLC040875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMU04547E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU1230B |
|
|
|
|
Legal Form : |
A closely held public limited liability company |
|
|
|
|
Line of Business
: |
Manufacturer of Low
Temperature Rotary Vacuum Drying Systems |
|
|
|
|
No. of Employees
: |
Not Available |
|
|
|
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Company has been
successful in wiping off the accumulated losses of previous year. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small business dealing 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 : |
Ms. Sarika |
|
Designation : |
Office Executive |
|
Tel. No.: |
91-65701116 |
|
Date : |
21.03.2012 |
LOCATIONS
|
Registered Office / Head Office : |
502, 5th Floor, Citi Point, Rajarshi Shahu Maharaja Road,
Andheri (east), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-65701116 / 8 / 9 |
|
Mobile No.: |
91- 9867625880 / 9821019702 (
Jagdish Abichandani ) |
|
Fax No.: |
91-22-26844239 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Village Tivre, |
|
Tel. No.: |
91-02142-43164 |
|
Fax No.: |
91-02142-43087 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1
: |
D-301, Plot No. 29, Sector 6, True Friends Apts, Dwarka, |
|
Tel. No.: |
91-11-25089112 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2
: |
201, Olive Grove, |
|
Tel. No.: |
91-80 25803506/41270902 |
|
Fax No.: |
91-22 25556608 |
|
E-Mail : |
|
|
|
|
|
Branch Office 3
: |
7-1-55/1, F-202, |
|
Tel. No.: |
91-40-23750705/30602027 |
|
Fax No.: |
91-40-23732920 |
|
E-Mail : |
|
|
|
|
|
Overseas Office
: |
A2 - 1503, 15/F, |
|
Tel. No.: |
0861064976259 |
|
Fax No.: |
0861064973057 |
|
E-Mail : |
|
|
|
|
|
Overseas Office
: |
P. O. Box No. 43916, |
|
Tel. No.: |
0097143511963/4 |
|
Fax No.: |
0097143511964 |
|
E-Mail : |
DIRECTORS
AS ON 30.12.2011
|
Name : |
Mr. Rajive Ashoka Prasad |
|
Designation : |
Director |
|
Address : |
F-3, Beach House, |
|
Date of Birth/Age : |
23.02.1957 |
|
Date of Appointment : |
10.09.1986 |
|
DIN No.: |
00374285 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U28920MH1986PLC040875 |
ULTRA DRYTECH
ENGINEERING LTD. |
Managing
director |
10-09-86 |
10-09-86 |
- |
Active |
NO |
|
2 |
U74999MH1990PTC056923 |
EXCELSIOR DESIGN
AND PROJECT CONSOLIDATED PRIVATE LIMITED |
Director |
20-06-90 |
20-06-90 |
01-04-10 |
Active |
NO |
|
3 |
U74999RJ1994PTC009115 |
MICRO FILLERS
PRIVATE LIMITED |
Director |
01-12-94 |
01-12-94 |
- |
Dormant |
NO |
|
Name : |
Ms. Anita Rajive Prasad |
|
Designation : |
Director |
|
Address : |
F-3, Beach House, |
|
Date of Birth/Age : |
31.05.1960 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
03065052 |
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 |
U28920MH1986PLC040875 |
ULTRA DRYTECH
ENGINEERING LTD. |
Director |
29-09-10 |
01-04-10 |
Active |
NO |
|
Name : |
Mr. Jagdish Tirathdas Abichandani |
|
Designation : |
Director |
|
Address : |
Ashiyana, 105-B, 1st Floor, Sindhi Society, Chembur, Mumbai
– 400071, |
|
Date of Birth/Age : |
15.11.1958 |
|
Date of Appointment : |
01.04.2010 |
|
DIN No.: |
02682477 |
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 |
U28920MH1986PLC040875 |
ULTRA DRYTECH
ENGINEERING LIMITED |
Director |
29-09-10 |
01-04-10 |
Active |
NO |
|
2 |
U74990MH2010PTC206774 |
MINOLTA FORGE
AND METALS PRIVATE LIMITED |
Director |
19-08-10 |
19-08-10 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.12.2011
|
Names of Shareholders |
No. of Equity
Shares |
|
Rajive Ashoka Prasad Jh:- Anita Rajive Prasad |
1188000 |
|
Rajive Ashoka Prasad Abhijit Rajive Prasad |
743900 |
|
Baccarose Perfumes and Beauty Products Private Limited, |
150000 |
|
Abhijit Rajive Prasad Rajive Ashoka Prasad |
114000 |
|
Anita Prasad Jh:- Rajive Prasad |
74000 |
|
Atul Mohan Raizada Jh:- Deepa Raizada |
10200 |
|
Lalchand Tahilramani |
7500 |
|
Shefali Prakash Doshi Jh:- Prakash Harsukhlal Doshi |
5000 |
|
Prakash Doshi Jh:- Leena Prakash Doshi |
5000 |
|
Pushpa Jayantilal Chokshi |
5000 |
|
S.K.Jain |
3000 |
|
Kisan Ratilal Choksey Ashok Ratilal Choksey Ramesh Ratilal Choksey |
3000 |
|
Ratnadevi Tahilaramani Jh:- Lalchand Tahilaramani |
2500 |
|
Govindlal M. Parikh Jh:- Sandhya G. Parikh |
2500 |
|
Sandhya G. Parikh Jh:- Govindlal .M. Parikh |
2500 |
|
Behram Maneckshaw Mehta Jh:- Zenobia Maneckshaw Mehta |
2000 |
|
Atul Tirodkar Jh:- Aarti Tirodkar |
1000 |
|
Prathul Marfatia Jh:- Rashmi Marfatia |
1000 |
|
Purvi V. Ambani Jh:- Usha .V. Ambani |
1000 |
AS ON 30.12.2011
|
Names of Shareholders |
No. of 7%
Cumulative Preference Shares |
|
Pokraj Shah |
185000 |
|
Dilip .D. Sheth |
150000 |
|
J.C.Udani |
100000 |
|
Mukesh Shah |
100000 |
|
Manoj Vyas |
100000 |
|
Mukesh .D. Sheth |
91000 |
|
Jose Cherian |
50000 |
|
Surendra Maskara |
50000 |
|
S.T.S. Chemicals Limited, |
50000 |
|
Rakesh .J. Jain |
50000 |
|
Pankhiben .J. Jain |
50000 |
|
Bassaya Patil |
35000 |
|
Anup Shah |
30000 |
|
Bipin Doshi |
30000 |
|
Mahendra |
20000 |
|
Tejraj Shah |
20000 |
|
Rajyadyaksha |
20000 |
|
Hitesh Shah |
20000 |
|
Bhaskar .A. Shah |
15000 |
|
Mandeep Shah |
10000 |
AS ON 30.12.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
5.76 |
|
Directors or relatives of Directors |
80.76 |
|
Other top fifty shareholders |
13.48 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Low Temperature Rotary Vacuum Drying
Systems |
||||||||||
|
|
|
||||||||||
|
Product : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
31.03.2011 |
|
Licensed Capacity |
Rs. 400.000
Millions |
|
Installed Capacity |
Rs. 400.000
Millions |
|
Actual Production |
Rs. 212.200
Millions |
GENERAL INFORMATION
|
Customers : |
PHARMACEUTICALS
Agrochemicals
DYES & INTERMEDIATES
|
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||
|
Bankers : |
Canara Bank, J V [P D Scheme, 38, Hatkesh Society, N. S. Road No. 5,
Vile Parle (W), Mumbai – 400056, Maharashtra, India |
|||||||||||||||||||||||||||||||||
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|
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Facilities : |
|
|||||||||||||||||||||||||||||||||
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|
|
|
|
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|
Banking
Relations : |
Satisfactory |
|
|
|
|
Financial
Institution : |
B. SICOM Investments and Finance Limited |
|
|
|
|
Auditors : |
|
|
Name : |
K.C. Khanna and Company Chartered Accountant |
|
Address : |
1st Floor, Archana Apts, 12, Zone II, M. P. Nagar, |
|
Pan No.: |
AAAFK2984M |
CAPITAL STRUCTURE
AS ON 30.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2750000 |
Equity Shares |
Rs. 10/- each |
Rs. 27.500 Millions |
|
1500000 |
7% Cumulative Preference Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
|
|
Total |
|
Rs. 42.500
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2625000 |
Equity Shares |
Rs. 10/- each |
Rs. 26.250
Millions |
|
1500000 |
7% Cumulative Preference Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
|
|
Total |
|
Rs. 41.250 Millions |
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 |
41.250 |
41.250 |
41.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
42.108 |
20.175 |
20.175 |
|
|
4] (Accumulated Losses) |
0.000 |
(2.365) |
(4.341) |
|
|
NETWORTH |
83.358 |
59.060 |
57.084 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
76.439 |
47.984 |
11.158 |
|
|
2] Unsecured Loans |
10.360 |
13.985 |
33.919 |
|
|
TOTAL BORROWING |
86.799 |
61.969 |
45.077 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
170.157 |
121.029 |
102.161 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
44.499 |
42.438 |
39.301 |
|
|
Capital work-in-progress |
94.977 |
94.761 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.055 |
0.055 |
0.055 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
36.051
|
32.848 |
91.692 |
|
|
Sundry Debtors |
40.864
|
72.198 |
59.354 |
|
|
Cash & Bank Balances |
2.611
|
12.816 |
1.378 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
46.999
|
68.725 |
45.689 |
|
Total
Current Assets |
126.525
|
186.587 |
198.113 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
40.671
|
88.654 |
85.034 |
|
|
Other Current Liabilities |
45.540
|
107.370 |
43.336 |
|
|
Provisions |
9.688
|
6.788 |
6.938 |
|
Total
Current Liabilities |
95.899
|
202.812 |
135.308 |
|
|
Net Current Assets |
30.626
|
(16.225) |
62.805 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
170.157 |
121.029 |
102.161 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
211.529 |
222.268 |
260.855 |
|
|
|
Other Income |
6.561 |
2.297 |
1.758 |
|
|
|
TOTAL (A) |
218.090 |
224.565 |
262.613 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
143.813 |
191.167 |
189.111 |
|
|
|
(Increase)/Decrease in Finished Goods |
(0.215) |
(31.302) |
5.950 |
|
|
|
Manufacturing Expenses |
13.875 |
16.211 |
18.815 |
|
|
|
Employee Remuneration and Benefits |
22.218 |
17.888 |
18.713 |
|
|
|
Administrative Charges |
8.545 |
9.577 |
8.119 |
|
|
|
Selling Expenses |
4.559 |
0.824 |
1.258 |
|
|
|
TOTAL (B) |
192.795 |
204.365 |
241.966 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
25.295 |
20.200 |
20.647 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.067 |
11.592 |
8.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.228 |
8.608 |
11.737 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.134 |
3.879 |
3.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.094 |
4.729 |
8.135 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.900 |
2.753 |
1.886 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.194 |
1.976 |
6.249 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.365) |
(4.341) |
(10.590) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.829 |
(2.365) |
(4.341) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.22 |
0.75 |
-- |
|
Expected Sales ( 2011-2012 ) : Rs. 250.000 Millions
The above information has been parted by Ms. Sarika.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.01
|
0.01 |
0.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.03
|
0.02 |
0.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.04
|
0.02 |
0.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.08 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.19
|
4.48 |
3.16 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32
|
0.92 |
1.46 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in
Report (Yes / No) |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
No |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
|
------------ |
|
Yes |
|
Yes |
|
No |
|
No |
|
Yes |
|
No |
|
No |
|
------------ |
|
------------ |
|
Yes |
|
Yes |
|
------ |
|
------ |
|
Yes |
|
Yes |
|
Yes |
|
Yes |
Note :
Registered Office of the company has been shifted from 504, 5th
Floor, ‘A’ wing,
Performance of the
company
It was stated in the last report that the Projects Division of the
company consisting mainly of Spin Flash Dryer have been transferred w.e.f 1st
April, 2010 on a Slump Sales basis. Due to various operational issues and
completion of pending orders pertaining to that business during the current
year, the complete effect of Slump Sale represented by the Capital Reserve of
Rs. 21.103 Millions has been reported during the current year ended 31st
March, 2011. The improvement in the net worth of the company on account of this
capital Reserve will give a major boost to the company and its ability to
restructure and refinance itself for a healthier growth.
The last year’s figures were combined figures of turnover of both the
equipment and the projects division. From the last year’s turnover, the
equipment division has imported its performance by 40%, thereby fueling its
planned growth for the future.
With the current performance and the improvement of the balance sheet, the
company is approaching its bankers for restructuring its finances for
a)
Deduction in rates of interest for short / medium
loans taken for restructuring
b)
Enhancement of facilities an capabilities to meet
its future projections and goals. The company is hopeful of success in this
endeavor.
The company’s profitability will substantially improve with the
reduction in interest an envisaged by the financial restructuring with the
banks. The company’s business is increasing substantially during the year.
Outlook :
The capital goods sector has shown substantial growth in the year. The
company has felt the effects of the
growth and all indicators point to double-digit growth every year for the next
few years.
The company has now geared up for the expanded growth by structuring
itself, thereby making itself more competitive in the market for its products.
The company has approached its bankers for capital expansion, as the
company requires more space to gear up for expanded turnovers. This is expected
to be completed in the next 2 years.
The company has strengthened its area network with sales representatives
in each region of the country. This step is now bearing fruit.
The company is targeting growth by going into manufacture of equipment
with exotic materials, which require highly specialized skills, which the
company possesses. This will substantially improve Value per Ton realization
and is expected to substantially improve profitability.
Contingent Liabilities
:
|
Particulars |
Rs.
In Millions 31.03.2011 |
Rs.
In Millions 31.03.2010 |
|
Guarantees given by the Bank on behalf of the company |
11.368 |
12.223 |
|
Sales Tax |
25.356 |
29.276 |
|
Arrears of Preference Share Dividend |
8.946 |
7.896 |
|
Total |
45.670 |
49.395 |
FORM 8
|
Corporate
identity number of the company |
U28920MH1986PLC040875
|
|
Name of the
company |
ULTRA DRYTECH
ENGINEERING LIMITED |
|
Address of the registered
office or of the principal place of
business in |
502, 5th Floor,
Citi Point, Rajarshi Shahu Maharaj Road, Andheri (East), Mumbai – 400069,
Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Stock, Plant and
Machinery etc. |
|
Particular of
charge holder |
Canara Bank, J.V.P.D Scheme, 38, Hatkesh Society, N.S.
Road No. 5, Vile Parle (W), Mumbai - 400056, Maharashtra, India Email :
cb0121@canarabank.com |
|
Nature of
instrument creating charge |
Supplemental Agreement Hypothecation
Agreement of Goods and Book debts (for DALC/DPG/Guarantee) Appendix-16 Draft
of letter to be used where additional limit is granted on the very security Agreement for
Opening Inland Irrevocable Letters of Credit Letter of Renewal (All collectively
constitute a single charge for Rs. 77.000
Millions) |
|
Date of
instrument Creating the charge |
01.02.2012 |
|
Amount secured by
the charge |
Rs. 77.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As stipulated by
bank from time to time. Presently 7% above
on going PLR with minimum of 17.75% p.a compounded monthly/ quarterly. Terms of repayment As stipulated by
bank from time to time. All other
terms and conditions mentioned in the earlier agreements shall be effective,
valid and applied. Margin ILC-10% Extent and operation of the charge The Bank shall
have first charge on the assets secured. The securities
are at First pari passu charge with SICOM Investments and Finance Limited. Other |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation of
Goods and Book Debts lying at Village Tivre, Khopoli Road, Taluka -
Sudhagadh, Dist Raigad, Maharashtra. EMT of Factory
Land & Building situated at ViIIage, Tivre Khopoli Pali Road Taluka -
Sudhagadh, Dist Raigad, S. No. 8, 47, H No. 4,8,2,6,1,3,5,7,11 adm 18,200 sq.
mts. Hypothecation of
Plant and Machineries. |
|
Charge
identification number of the charge to be modified |
80047272 |
|
Particulars of
the present modification |
By the present
modification of earlier limits the bank has revised/enhanced the limits as
under against the securities specified above. Limits, OCC- Rs. 35.000 Millions (SLOD Rs. 15.000
Millions) CDB- Rs.
2.000 Millions ILC/FLC- Rs. 20.000 Millions BG- Rs. 20.000 Millions --------------------------------------- Total Rs. 77.000 Millions. |
Fixed Assets :
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. 51.20 |
|
|
1 |
Rs. 81.50 |
|
Euro |
1 |
Rs. 67.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.