|
Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
VINYROYAL PLASTICOATS LIMITED |
|
|
|
|
Registered
Office : |
60 CD, “Shlok”, Government Industrial Estate, Charkop, Kandivali
(West), Mumbai – 400 067, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.01.1992 |
|
|
|
|
Com. Reg. No.: |
11-064946 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 25.000 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134MH1992PLC064946 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV09661B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV4165E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture, Sell or otherwise Deal in Polymer Products of various
kinds and forms including Polyvinyl Chloride/Polyurethane Films, Sheets, Coated
Articles like Cloth, Floor Coverings, Wall Coverings, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 214000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Latest
financials i.e. 2011-2012 are missing from the government department. From
the financials of 2011 it seems that the profitability of the company is low
also there appears huge external borrowing recorded by the company. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business with cautions. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
B+ (Fund Based Limits – Cash Credit) |
|
Rating Explanation |
The risk prone credit quality it carry very high credit risk |
|
Date |
November, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4 (Fund Based Limits – Bill Discounting) |
|
Rating Explanation |
The risk prone credit quality it carry high credit risk |
|
Date |
November, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
60 CD, “Shlok”, Government Industrial Estate, Charkop, Kandivali
(West), Mumbai – 400067, |
|
Tel. No.: |
91-22-32655828/ 29/ 30/ 28603514/ 16 |
|
Fax No.: |
91-22-28603565 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Plot No. 318, Village Baska, Taluka Halol, District Panchmahal –
389350, Gujarat, India |
|
Tel. No.: |
91-2676-247093 / 247180 / 247181 |
|
Mobile No.: |
91-2676-247192 / 247187 |
DIRECTORS
As on 27.09.2012
|
Name : |
Mr. Suvrat Mahesh Shah |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director appointed in casual vacancy |
||||||||||||||||||||||||||||||||||||
|
Address : |
Geeta Niwas,
opposite Laxminarayan Mandir, Mathuradas Road, Kandivali (West), Mumbai – 400
067, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
02.12.1973 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.11.2009 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02833798 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rahul Mukesh Motasha |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Whole-time director |
||||||||||||||||||||||||||||||||||||
|
Address : |
7 Vaikunth
Dakshinmurthi CHS, JVPD, 10th Road, Juhu Scheme, Vile Parle (W),
Mumbai – 400 049, Maharashtra, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.05.1980 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
16.11.2009 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02080806 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Satishkumar Bhailalbhai Patel |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director appointed in casual vacancy |
||||||||||||||||||||||||||||||||||||
|
Address : |
306 3rd Floor,
Gayatri Bhavan Apartment, Opposite Mahavir Hall, Baroda, 390005, Gujarat,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1956 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
31.03.2012 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00211479 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2012
|
Names of
Shareholders |
|
No.
of Shares |
|
Mahesh Kantilal Shah |
|
1 |
|
Jayesh Amritlal Motasha |
|
1 |
|
Vijayjyot Seats Private Limited |
|
78400 |
|
Bhaktavatsala Trading and Consultancy Services Private Limited, India |
|
60679 |
|
Trilokatma Trading and Consultancy Services Private Limited, India |
|
43680 |
|
Sahishnu Trading and Consultancy Services Private Limited, India |
|
31455 |
|
Shreedaha Trading and Consultancy Services Private Limited, India |
|
26455 |
|
Sughosh Trading and Consultancy Services Private Limited, India |
|
56455 |
|
Lokswami Trading and Consultancy Services Private Limited, India |
|
12870 |
|
Jayshree Mahesh Shah |
|
1 |
|
Amrutben Shah |
|
1 |
|
Meena Vinod Shah |
|
1 |
|
Vinod Kantilal Shah |
|
1 |
|
Shreeshaha Trading and Consultancy Services Private Limited, India |
|
75000 |
|
Sumukh Trading and Consultancy Services Private Limited, India |
|
50000 |
|
Shrudha Trading and Consultancy Services Private Limited, India |
|
15000 |
|
Total |
|
450000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.09.2012
|
Category |
Percentage |
|
Bodies corporate |
99.99 |
|
Directors or relatives of Directors |
0.01 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture, Sell or otherwise Deal in Polymer Products of various
kinds and forms including Polyvinyl Chloride/Polyurethane Films, Sheets,
Coated Articles like Cloth, Floor Coverings, Wall Coverings, etc. |
PRODUCTION STATUS AS ON 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
PVC Leather Cloth |
Lac LM |
NA |
60.00 |
34.01 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Dena Bank Dena Sadan, S. V. Road, Kandivali West, Mumbai - 400067, Maharashtra,
India |
|||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Shailesh Manek - Proprietor of Manek and Associates Chartered Accountants |
|
Address : |
3 Shanti Kunj, 17, Prarthana Samaj Road, Vile Parle (East),
Mumbai-400057, Maharashtra, India |
|
Tel. No.: |
91-22-26185110/
26185137 |
|
Fax No.: |
91-22-26184912 |
|
E-Mail : |
|
|
PAN No.: |
AAHPM4874F |
|
|
|
|
Substantial interest : |
Vijayjyot Seats Private Limited |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250002 |
Equity Shares |
Rs.100/- each |
Rs. 25.000 Millions |
|
|
|
|
|
After 27.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.100/- each |
Rs. 45.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
450000 |
Equity Shares |
Rs.100/- each |
Rs. 45.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
30.06.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
25.000 |
25.000 |
25.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
28.632 |
23.094 |
18.947 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
53.632 |
48.094 |
43.947 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
26.532 |
28.196 |
28.321 |
|
|
2] Unsecured Loans |
43.776 |
34.656 |
36.917 |
|
|
TOTAL BORROWING |
70.308 |
62.852 |
65.238 |
|
|
DEFERRED TAX LIABILITIES |
0.003 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
123.943 |
110.946 |
109.185 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.538 |
26.210 |
25.892 |
|
|
Capital work-in-progress |
0.000 |
0.945 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.088 |
0.089 |
0.089 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.590
|
44.620 |
26.424 |
|
|
Sundry Debtors |
129.345
|
106.909 |
140.224 |
|
|
Cash & Bank Balances |
10.094
|
9.367 |
10.345 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
228.399
|
299.144 |
342.305 |
|
Total
Current Assets |
424.428
|
460.040 |
519.298 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
68.960
|
138.864 |
190.109 |
|
|
Other Current Liabilities |
253.986
|
236.084 |
243.360 |
|
|
Provisions |
3.165
|
1.390 |
2.625 |
|
Total
Current Liabilities |
326.111
|
376.338 |
436.094 |
|
|
Net Current Assets |
98.317
|
83.702 |
83.204 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
123.943 |
110.946 |
109.185 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
30.06.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
594.656 |
396.965 |
550.576 |
|
|
|
Other Income |
3.859 |
2.230 |
0.948 |
|
|
|
TOTAL (A) |
598.515 |
399.195 |
551.524 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material |
475.486 |
317.139 |
425.361 |
|
|
|
Manufacturing |
40.275 |
30.360 |
44.006 |
|
|
|
Administrative and Selling Expenses |
53.978 |
38.642 |
47.265 |
|
|
|
Increase / (Decrease) in Stock |
(6.724) |
(10.788) |
5.779 |
|
|
|
TOTAL (B) |
563.015 |
375.353 |
522.411 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
35.500 |
23.842 |
29.113 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.507 |
17.215 |
30.215 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
10.993 |
6.627 |
(1.102) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.978 |
2.148 |
3.261 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.015 |
4.479 |
(4.363) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.202 |
0.450 |
0.442 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
5.813 |
4.029 |
(4.805) |
|
|
|
|
|
|
|
|
|
Less |
Taxes on Earlier
Year |
0.164 |
(0.274) |
(0.061) |
|
|
|
|
|
|
|
|
|
Less |
Prior Period
Expenses (Net) |
0.110 |
0.156 |
(0.216) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.094 |
18.947 |
24.029 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
28.633 |
23.094 |
18.947 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
112.318 |
101.245 |
102.684 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
64.904 |
24.767 |
24.971 |
|
|
|
Capital Goods |
0.378 |
0.826 |
0.000 |
|
|
|
Others |
0.109 |
1.496 |
0.550 |
|
|
TOTAL IMPORTS |
65.391 |
27.089 |
25.521 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
22.15 |
16.59 |
(20.33) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
30.06.2009 |
|
PAT / Total Income |
(%) |
0.97
|
1.01 |
(0.87) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.35
|
1.13 |
(0.79) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.78
|
0.92 |
(0.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.09 |
(0.10) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.39
|
9.13 |
11.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.22 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report
(Yes / No) |
|
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 |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------ |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-------- |
|
22] |
Litigations that the firm
/ promoter involved in |
-------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-------- |
|
26] |
Buyer visit details |
-------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE
The registered office of the company has been shifted from Shree
Kamdhenu Estate, 4th Floor, Near Tangent Furniture Showroom, Cross Link Road,
Chincholi Bunder, Malad (West), Mumbai-400064, Maharashtra, India to the present
address w.e.f. 25.06.2007
SALES AND OPERATIONS
The total income of the Company was Rs. 598.500 Millions for
the year ended 31 March 2011 as compared to Rs. 399.200 Millions for the year
2009 - 2010 (9 months). As the market scenario has improved accordingly the
turnover has also increased.
FUTURE OUTLOOK
The Management is putting their best efforts to increase the turnover
and at the same time controlling the cost to improve the Profitability of the
Company.
FUTURE PLAN:
(a)
Conversion of solid fuel fired thermic fluid heater to Gas based for better
efficiency.
(b)
Evaporative cooling system for plant area.
(c) Fabric
laminator with driven unwinder.
(d) Automatic
tendon controller for paper unwinder.
(e) Direct
gas fired oven instead of thermic fluid heated oven.
(f) High
speed sterrer installation for mixing of plastisole.
(g) Existing
TRM replacement with new one.
(h) Start up of
full flagged workshop.
(i) Sterrer with deareation facility.
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U24134MH1992PLC064946 |
|
Name of the
company |
VINYROYAL
PLASTICOATS LIMITED |
|
Address of the
registered office or of the principal place of business in |
60 CD, “Shlok”, Government Industrial Estate, Charkop, Kandivali
(West), Mumbai – 400067, Email: hkbijlani@samsons.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90154459 |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Dena Bank Dena Sadan, S. V. Road, Kandivali West, Mumbai - 400067, Maharashtra,
India Email: kanwes@denabank.co.in
|
|
Nature of
instrument creating charge |
Supplemental
agreement of hypothecation (goods, plant, machinery, book debts and other
movable assets to secure additional facilities. |
|
Date of
instrument Creating the charge |
18.07.2011 |
|
Amount secured by
the charge |
Rs. 145.600
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate +
7.80% - 2% = 15.75% p.a., subject to
change from time to time. Terms of
Repayment As per bank
sanction letter ref: DB:KW:ADV:2011 dated 07.05.11 and as may be applicable
from time to time Margin As per bank
sanction letter ref: DB:KW:ADV:2011 dated 07.05.11 and as may be applicable
from time to time Extent and
Operation of the charge Security created
by way of first charge and to cover principal amount together with interest,
costs, expenses etc. Others Security created
in respect of the following main limits: - CC: Rs.25.000 Millions - Bills
purchase: Rs.45.000 Millions - LC
(DP/DA)(I/F): Rs.75.000 Millions - Guarantee
(P/F): Rs. 0.600 Million Total... Rs.145.600 Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All stock of raw
materials, goods in process and finished goods such PVC Resin, chemicals,
fabrics, release paper, PVC leather cloth, PVC flooring etc., including goods
received under LC, consumable stores and
spares, packing materials etc. both present and future now being or hereafter
brought into or upon or now or hereafter in course of transit. All tangible
movable properties and assets of whatsoever nature including plant, machinery,
tools and accessories, stores, spares, relating to the plant & machinery,
furniture, articles, office All tangible
movable properties and assets of whatsoever nature including plant,
machinery, tools and accessories, stores, spares, relating to the plant &
machinery, furniture, articles, office by delivery, both
present and future. All present &
future book debts, outstandings, moneys, receivables including export
proceeds, claims, bills, rights, to or in movable properties and movable
assets and which are now due, owing or payable or
belonging to the company or which may at any time hereafter become due,
owing, payable or belonging to the company in the course of its business by
any person, firm, company or body corporate or by
the Govt. Central or State or Indian Railways, any Govt. Dept. or office or any Municipal or local or
public or semi govt. body or authority or anybody corporate or undertaking or project whatever
in the public sector. |
|
Date of
instrument modifying the charge |
13.07.2011 |
|
Particulars of
the present modification |
Charge over
movable properties now stands enhanced from Rs.115.600 Millions to Rs.145.600
Millions. |
Contingent
Liabilities not provided for:
a. Guarantee issued by the company's Bankers on
behalf of the company amounting to Rs. 0.448 millions (Previous period
Rs. 0.375 million)
b. In respect of Custom duty for
non fulfillment of export obligations and pending staff against export made
under DFRC scheme Rs. 1.389 millions (Previous period Rs.1.289 millions)
FIXED ASSETS:
·
Land
·
Buildings
·
Internal Road and Tube Well
·
Plant and Machinery
·
Vehicles
·
Furniture and Fixture
·
Office and Other Equipment
·
Laboratory 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 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.54.47 |
|
|
1 |
Rs.87.63 |
|
Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
|
28 |
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.