MIRA INFORM REPORT
|
Report Date : |
21.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
SAHAJANAND LASER
TECHNOLOGY LIMITED (w.e.f 28.02.2006) |
|
|
|
|
Formerly Known
As : |
SHREEJI LASER
TECHNOLOGY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-30, G.I.D.C.,
Electronics Estate, Sector – 26, Gandhinagar-382028, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
23.04.2002 |
|
|
|
|
Com. Reg. No.: |
04-40659 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 203.682 Millions |
|
|
|
|
IEC No.: |
U30007GJ2002PLC040659 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS00836D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS1983B |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of medical stent and industrial machines. |
|
|
|
|
No. of
Employees: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2450000 |
|
|
|
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
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.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Pooja Majithia |
|
Designation : |
Company Secretary |
|
Contact No.: |
91-9099040080 |
|
Date : |
28.12.2012 |
LOCATIONS
|
Registered / Corporate Office / Factory 1
/ Marketing: |
E-30, G.I.D.C.,
Electronics Estate, Sector – 26, Gandhinagar-382028, |
|
Tel. No.: |
91-79-23241379/
23287461 – 68/23287470 |
|
Mobile No.: |
91-9099040080
(Ms. Pooja Majithia) |
|
Fax No.: |
91-79-23241465/ 23287470 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office / Marketing Office : |
41, |
|
Tel. No.: |
91-79-26854537 / 38 |
|
Fax No.: |
91-79-26854539 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 [SEZ
WORKS] : |
Plot No. 29 and
58, |
|
Tel. No.: |
91-261-2568447-48 |
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Fax No.: |
91-261-2398419 |
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|
|
|
Branch Office : |
Located at :
|
DIRECTOR
As on 03.08.2012
|
|
|
||
|
Name : |
Mr. Arvind Lavji
Patel |
||
|
Designation : |
Managing Director |
||
|
Address : |
Plot – 4, Manichandra
Society, Part – I, Near Surdhara Circle, Thaltej, Ahmedabad – 380054, |
||
|
Date of Birth/Age : |
07.08.1958 |
||
|
Qualification : |
B.E. |
||
|
Date of Appointment : |
23.04.2002 |
||
|
DIN No.: |
00085612 |
||
|
|
|
||
|
Name : |
Mr. Dhirajlal
Jerambhai Babaria |
||
|
Designation : |
Director |
||
|
Address : |
435, Shady Lane, |
||
|
Date of Birth/Age : |
10.03.1949 |
||
|
Date of Appointment : |
15.05.2006 |
||
|
DIN No.: |
00689305 |
||
|
|
|
||
|
Name : |
Mr. Nilesh
Rajanikant Desai |
||
|
Designation : |
Director |
||
|
Address : |
1, Manekbaug
Society, |
||
|
Date of Birth/Age : |
06.07.1960 |
||
|
Date of Appointment : |
15.05.2006 |
||
|
DIN No.: |
00414747 |
||
|
|
|
||
|
Name : |
Mr. Sudhakar
Chintaman Sahasrabudhe |
||
|
Designation : |
Director |
||
|
Address : |
Amarasharanam, |
||
|
Date of Birth/Age : |
05.07.1942 |
||
|
Date of Appointment : |
15.01.2008 |
||
|
DIN No.: |
00114802 |
||
|
|
|||
|
Name : |
Mr. Maulik
Arvindbhai Patel |
||
|
Designation : |
Whole Time
Director |
||
|
Address : |
Plot – 4,
Manichandra Society, Part – I, Near Surdhara Circle, Thaltej, Ahmedabad –
380054, |
||
|
Date of Appointment : |
01.04.2009 |
||
|
DIN No.: |
00359678 |
||
|
|
|||
|
Name : |
Mr. Mihirkumar
Arvindbhai Joshi |
||
|
Designation : |
Nominee Director |
||
|
Address : |
37/A, Vrajraj
Co-operative Housing Society, |
||
|
Date of Birth/Age |
12.06.1977 |
||
|
Date of Appointment : |
19.08.2009 |
||
|
DIN No.: |
00823615 |
||
|
|
|||
|
Name : |
Mr. Dilip
Kevalram Pankhi |
||
|
Designation : |
Nominee Director |
||
|
Address : |
7, Das Bunglows,
Near Bodakdev Fire Station, Bodakdev, Vastrapur, Ahmedabad – 380054, Gujarat,
India |
||
|
Date of Appointment : |
31.05.2010 |
||
|
DIN No.: |
03009105 |
||
KEY
EXECUTIVES
|
Name : |
Ms. Pooja Majithia |
|
Designation : |
Company Secretary |
|
Address : |
28, Vrundawan Bunglow, Opposite Nid, Kudasan, Gandhinagar – 382421, |
|
Date of Birth/Age : |
25.12.2009 |
|
Date of Appointment : |
AFFPM4444L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 03.08.2012
|
Names of Shareholders |
|
No. of Shares |
|
Arvindbhai
Lavjibhai Patel |
|
9840066 |
|
Dineshbhai
Lavjibhai Patel |
|
593633 |
|
Maulik Arvindbhai
Patel |
|
15208 |
|
4Lavjibhai
Pragjibhai Patel |
|
527450 |
|
Jyotsanaben
Arvindbhai Patel |
|
547500 |
|
Rekhaben
Dineshbhai Patel |
|
553333 |
|
Dhirajlal J.
Babaria |
|
3094219 |
|
Ashwinbhai J.
Babria |
|
3073385 |
|
Dineshbhai Lavjibhai
Patel – HUF (Through Dineshbhai Lavjibhai Patel, Karta) |
|
140000 |
|
ALP Multi – Tech
Private Limited |
|
50000 |
|
GVFL Trustee company Private Limited (Trustee of Gujarat
IT Fund) |
|
1933333 |
|
Hasmukhbhai R. Patel |
|
100 |
|
Total |
|
20368227 |
Equity Share Break up (Percentage of Total Equity)
As on 03.08.2012
|
Category |
Percentage |
|
Venture capital |
9.49 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
30.28 |
|
Directors of relatives of directors |
60.23 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of medical stent and industrial machines. |
||||
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|
||||
|
Products : |
Laser Services |
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||||
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Exports : |
|
||||
|
Products : |
· Laser Cutting
and Marking Machines · Rough diamond
planning and marking system · Laser diamond
sawing system diamond bruiting system · Laser diamond
blocking system · Laser Diamond
bruiting systems · Auto polishing
systems · Jewellery
Hallmarking and Welding Industrial · Laser Cutting · Laser Marking
and Laser Welding Systems with Automation Cell Cutting · CNC PCB Drilling · CNC Engraving · CNC Wood Router · Micro-Post |
||||
|
Countries : |
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
·
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||||
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|
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Imports : |
|
||||
|
Products : |
· Components · Raw Materials · Optics |
||||
|
Countries : |
· Components · Raw Materials · Optics |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash/Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash/Credit |
GENERAL INFORMATION
|
Suppliers : |
·
Cambridge Technology Inc., ·
TJS Inc., ·
Cascade Laser Corporation, ·
Quantronix Corporation, · BC Electronics Inc. ·
Dynaco Corporation, ·
Acuity Research Inc., ·
PRC Corporation, ·
Rodenstock Precision ·
IPG Laser, ·
·
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Customers : |
Wholesaler / Retail ·
Res Photovaltaic Limited, ·
E.C.I.L., ·
Miranda Tools, Ankleshwar, ·
Phillips India Limited, Pune, ·
ATIRA, Ahmedabad, · Tata Iron and Steel Company Limited, Kharagpur, Madhya Pradesh ·
·
Nityanand Engravers, ·
·
National Process, Ahmedabad, ·
Paddhary Wood Works (Ajanta Clocks), ·
Cummins Limited, Pune, ·
Impex Electronics Private Limited, Gandhinagar, ·
Birla Kennametals, ·
Shri Ram Piston and Rings Limited, · Royal Touch Furniture, Rajkot, Rajasthan · ITI Limited, Mankapur, Uttar Pradesh ·
Sachitanand Precision Tooling Centre, ·
Laser Lab, ·
Shiv Laser Tech, · IP Rings Limited, Chennai, Tamilnadu ·
Space Application Centre (SAC), ISRO, Ahmedabad, ·
Wendt ·
Bharat Heavy Electricals Limited, ·
·
Classic Industries, Ahmedabad, · Gold Welding Machine : Goldium International, Mumbai · Birla Canameter · HPL Limited ·
B C Components · Perfect Circle Victor Limited - Now Known As Perfect Circle India Limited · Websel SL Energy Systems Limited ·
·
Gujarat Gold Centre, Rakhial, Ahmedabad, |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· State Bank of
India (SBI), MCL AU Unit,, Ahmedabad LHO Building, LAL Darwaja, Ahmedabad –
380006, Gujarat, India. |
|||||||||||||||||||||
|
|
· IDBI Bank Limited, IDBI Complex, Near Lal Bunglow,
Opposite Municipal Staff Quarters, Off C.G. Road, Ahmedabad – 380006,
Gujarat, India |
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|
|
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|
Facilities : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manubhai and
Company Chartered
Accountants |
|
Address : |
2nd Floor, B Wing, Premium House, Navrangapura, Ahmedabad –
380009, |
|
E-Mail : |
|
|
Website: |
|
|
PAN No: |
AAFFM2086H |
|
|
|
|
Associates: |
· Shreeji Services · Sahajanand Software Private Limited |
|
|
|
|
Wholly Owned
Subsidiaries : |
· Lancer Medical Technology Private Limited (CIN No.: U33112GJ2003PTC043027) · Satva Mechatronics Private Limited (CIN NO.: U31200GJ2000PTC054210) · SLT Guangzhou Jewellery Company Limited, China** · SLT Globe Tech Private LTD** · SLT and Handesgesllschaft GMBH, Germany** · SLT USA** · SLT Energy Limited |
Note:
** No transactions during the year.
CAPITAL STRUCTURE
As on 03.08.2012
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- Each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20368227 |
Equity Shares |
Rs.10/- Each |
Rs.203.682 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 |
203.682 |
203.682 |
203.682 |
|
|
2] Share Application Money |
1.247 |
1.247 |
1.200 |
|
|
3] Reserves & Surplus |
406.962 |
351.593 |
329.073 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
611.891 |
556.522 |
533.955 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
294.942 |
209.718 |
165.466 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
294.942 |
209.718 |
165.466 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
6.930 |
|
|
|
|
|
|
|
|
TOTAL |
906.833 |
766.240 |
706.351 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
367.526 |
179.207 |
129.986 |
|
|
Capital work-in-progress |
2.199 |
107.390 |
93.543 |
|
|
|
|
|
|
|
|
INVESTMENT |
79.347 |
78.837 |
111.022 |
|
|
DEFERRED41 TAX ASSETS |
25.593 |
0.024 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
199.571
|
147.578 |
170.078 |
|
|
Sundry Debtors |
327.499
|
231.934 |
278.366 |
|
|
Cash & Bank Balances |
36.812
|
30.443 |
24.776 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
111.623
|
96.055 |
74.178 |
|
Total
Current Assets |
675.505
|
506.010 |
547.398 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
207.663
|
63.249 |
119.584 |
|
|
Other Current Liabilities |
30.346
|
38.530 |
52.236
|
|
|
Provisions |
5.328
|
3.750 |
4.229
|
|
Total
Current Liabilities |
243.337
|
105.529 |
176.049 |
|
|
Net Current Assets |
432.168
|
400.481 |
371.349 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.300 |
0.450 |
|
|
|
|
|
|
|
|
TOTAL |
906.833 |
766.240 |
706.351 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
635.878 |
331.017 |
216.175 |
|
|
|
Other Income |
9.895 |
7.092 |
6.524 |
|
|
|
TOTAL (A) |
645.773 |
393.585 |
566.378 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing service costs |
39.652 |
|
517.160 |
|
|
|
Employee related expenses |
42.516 |
16.685 |
|
|
|
|
Administrative selling other expenses |
57.114 |
35.827 |
|
|
|
|
TOTAL (B) |
139.282 |
79.938 |
517.160 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
506.491 |
313.647 |
49.218 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
25.932 |
23.380 |
22.351 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
480.559 |
290.267 |
26.867 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.649 |
10.191 |
6.706 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
465.91 |
280.076 |
20.161 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
413.331 |
257.556 |
5.757 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
52.579 |
22.520 |
14.404 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
159.339 |
136.819 |
122.414 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
211.918 |
159.339 |
136.819 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.58 |
1.10 |
0.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.14
|
5.72
|
2.54 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
73.27
|
84.61
|
9.32 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.40
|
0.32
|
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.76
|
0.50
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.39
|
0.18
|
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.77
|
4.80
|
3.11 |
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 |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
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 |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
Note.:
Registered office of the company has been shifted from 48.old to the
present address.
Company Performance:
Financial Year 2010-11 marked a strong resurgence
in volume and demand growth post the financial crisis. This growth was led by
developed markets of the Automobolies and Fabrication Industry growth with
Strong Contribution from Diamond Industry’s turnaround and was secular across
all industries and markets. The Company has registered a strong board based
sequential growth across all key markets and customer segments.
On unconsolidated basis, revenues at 635.878
Millions for the year 2010-2011 were higher by 64.52% over the previous year’s
revenue of 386.494 Millions. Operating profit (profit taxes excluding other
income) at 27.682 Millions was up 59.43% from the previous year operating
profit of 17.363 Millions. Net profit for the year at 51.129 Millions was
higher by 127.04% than the previous year’s net profit of 22.520 Millions.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U30007GJ2002PLCO40659 |
|
Name of the
company |
SAHAJANAND LASER
TECHNOLOGY LIMITED |
|
Address of the registered
office or of the principal place of
business in |
E-30, G.I.D.C.,
Electronics Estate, Sector – 26, Gandhinagar, Gujarat, India 382028 |
|
This form is for |
Modification
Of Charge |
|
Charge identification
(ID) number of the charge to be modified |
10222649 |
|
Type of charge |
Book debts Movable poverty
(not being pledge) others: Raw
material, semi and finished goods |
|
Particular of
charge holder |
IDBI BANK
LIMITED, IDBI Complex, Opp. Municipal Staff Quarters, Off. C. G. Road,
Ahmedabad Gujarat-GJ IN, India-380006 |
|
Nature of
instrument creating charge |
Memorandum of Entry
for Modification Of Charges Deed Of Hypothecation |
|
Date of
instrument Creating the charge |
11.05.2012 |
|
Amount secured by
the charge |
Rs.424.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest @BBR+300PS Terms of
Repayment Working Capital
Finance Will be Repayable On Demand And LC On Due Date. Term Loan
Repayable Will BE As Per The Agreement Margin For CC 25% On
Stock & Book Debts ( Not Exceeding 120 Days) For EPC 10% On FOB
Value Of Export Order For LC 10% In The
Form Of Fixed Deposit With Bank For Term Loan
33.34% Of The Project Cost To Be Bought Upfront Extent and
Operation of the charge Memorandum Of
Entry Creat Mortgage Of The Entire Immovable Properties To Secure 1)
Working
Capital Finance Of Rs.350.000 Million 2)
Term
Loan Of Rs.74.300 Millions Others |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
1)
Plot
No.29 & 58 ADM 2000 SQ. MTS. In Sachin Industrial Estate Forming Part Of
Block/Survey No.400,399 (P) And 396 (E) Of Mouje Sachin, Taluka-Choryasi
Sub-District And District Surat. 2)
Sub
Plot No. E-30, ADM 9780 SQ. MTRS In GIDC Electronic Estate In Sector 26,
Gandhinagar. 3)
ADM
1080. 10 SQ. MTRS. On Not Side Of Total Land ADM.3034 SQ. MTRS. Forming Part
Of Rev. Survay No.71/4&71/5 City Survey No.77/A, T.P. Scheme No. 4 F.P.
No. 104 Paiki Of Mouje Navagam, Surat. 4)
Sub
Plot No.A-08, ADM 10150 SQ. MTRS. Alongwith 2200SQ. MTRS. Of Construction In
GIDC Electronic Estate In Sector 25, Gandhinagar Of Mauje Gandhinagar
Sub-District Gandhinagar In Gujarat. |
|
Date of
instrument modifying the charge |
30.07.2010 |
|
Particulars of
the present modification |
With this
modification, the working capital limit is extended to Rs.350 Millions and
fresh term loan facility is given of Rs.74.300 Million |
FIXED
ASSETS
· Land (Freehold and Leasehold)
·
· Plant and machinery
· Furniture and Fixtures
· Computer and Software
· Vehicle
· 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 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.54.84 |
|
|
1 |
Rs.89.11 |
|
Euro |
1 |
Rs.72.40 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
PJAG |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
|
49 |
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.