|
Report Date : |
30.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
T 5 and 6, MIDC, Hingna Industrial Area, Nagpur - 440 038, Maharashtra |
|
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Country : |
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|
Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
10.02.2000 |
|
|
|
|
Com. Reg. No.: |
11-124154 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.37.375
Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999MH2000PTC124154 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
NGPD02549B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer of Engineering and Allied Products. |
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|
|
|
No. of Employees
: |
300 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1440000 |
|
|
|
|
Status : |
Good |
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|
|
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and a reputed company with good track. Directors
are reported to be respectable and experienced businessmen. Trade relations
are reported as fair. Business is active. Payments are usually correct and as
per commitments. The company can be considered good for normal business dealings under
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB + (Long Term) |
|
Rating Explanation |
Moderate safety and moderate credit risk. |
|
Date |
09.05.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A2 (Short Term) |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
09.05.2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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
|
Name : |
Mr. Chandra Prakash |
|
Designation : |
Chartered Accountant |
|
Contact No.: |
91-7104-236046 |
|
Date : |
28.07.2012 |
LOCATIONS
|
Registered Office / Head / Factory 1: |
T 5 and 6, MIDC, Hingna Industrial Area, Nagpur-440038, Maharashtra, India |
|
Tel. No.: |
91-7104-236046 / 232084 / 234727 / 232084 / 234727 |
|
Fax No.: |
91-7104-232085 / 232085 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2 : |
N - 78 and 79, MIDC, Hingna Industrial Area, Nagpur-440016,
Maharashtra, India |
|
Tel. No.: |
91-7104-236036 |
|
|
|
|
Factory 3 : |
Plot No. T-12, MIDC, Hingna Industrial Area, Nagpur-440016,
Maharashtra, India |
|
E-Mail : |
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|
Branch Office : |
Located At:
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DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Narendra Kumar Garg |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Chaitriya, 3, Pawanbhumi, Somalwada, Wardha Road, Nagpur-440025,
Maharashtra, India |
|
Date of Birth/Age : |
10.02.1950 |
|
Date of Appointment : |
12.08.1983 |
|
Din No.: |
00049074 |
|
|
|
|
Name : |
Mr. Ramarao Venkata Avadhanula |
|
Designation : |
Director |
|
Address : |
P/No. 21, 22, 103, Talmale Estate, Tuljai Apartment, Renghe Vihar,
Trimurti Nagar, Nagpur-440022, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1939 |
|
Date of Appointment : |
08.07.1997 |
|
Din No.: |
01723391 |
|
|
|
|
Name : |
Mr. Prem Dayal Gupta |
|
Designation : |
Director |
|
Address : |
No. 9, Adan Bagh Colony, Dayal Bagh, Agra-282005, India |
|
Date of Birth/Age : |
16.11.1933 |
|
Date of Appointment : |
06.05.1995 |
|
Din No.: |
00049240 |
|
|
|
|
Name : |
Mr. Prashant Narendra Garg |
|
Designation : |
Whole Time Director |
|
Address : |
Chaitriya, 3, Pawanbhumi, Somalwada, Wardha Road, Nagpur-440025,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1983 |
|
Date of Appointment : |
09.11.2003 |
|
Din No.: |
00049106 |
|
|
|
|
Name : |
Mrs. Renuka Nitin Garg |
|
Designation : |
Director |
|
Address : |
Chaitriya, 3, Pawanbhumi, Somalwada, Wardha Road, Nagpur-440025,
Maharashtra, India |
|
Date of Birth/Age : |
28.08.1975 |
|
Date of Appointment : |
22.08.2009 |
|
Din No.: |
02815373 |
|
|
|
|
Name : |
Mr. Ajay Motilal Jain |
|
Designation : |
Director |
|
Address : |
Flat No. 802, 8th Floor, Building No. 6, Halley Wing E,
Evershine Millennium, Thakur Village, Kandivali (East), Mumbai-400101,
Maharashtra, India |
|
Date of Birth/Age : |
02.07.1965 |
|
Date of Appointment : |
22.08.2009 |
|
Din No.: |
02815416 |
|
|
|
|
Name : |
Mr. Gurudas Gopalkrishna Trasi |
|
Designation : |
Director |
|
Address : |
Flat No. 25, Building No. D-3/1, Radhanagar, Phase II, Barave Road,
Khadak Pada, Kalyan (West), Thane-421301, Maharashtra, India |
|
Date of Birth/Age : |
23.08.1943 |
|
Date of Appointment : |
22.08.2009 |
|
Din No.: |
02817213 |
KEY EXECUTIVES
|
Name : |
Mr. Chandra Prakash |
|
Designation : |
Chartered Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Narendra Kumar Garg |
|
1305019 |
|
Narendra Kumar Garg HUF |
|
240770 |
|
Nitin Garg |
|
55013 |
|
Chitra Garg |
|
762390 |
|
Manfred Kluge |
|
797601 |
|
Jayanta Bose |
|
20626 |
|
Rajesh Shah |
|
38137 |
|
Vidya Nathan |
|
29532 |
|
Neeraj Sabharwal |
|
11917 |
|
V.K. Bahl |
|
50119 |
|
Amit Prashar |
|
11600 |
|
Pankaj Jain |
|
6962 |
|
Rajesh Sanikop |
|
8335 |
|
Alok Gautam Desai |
|
15886 |
|
Stefanie Kummerow |
|
45000 |
|
Veenu Sushil Punyani |
|
1200 |
|
Marion Busch |
|
48772 |
|
Nimeshkumar A. Amin |
|
2160 |
|
Sanjeev Kumar Gupta |
|
2321 |
|
Vimlawanti Madan |
|
1876 |
As on 29.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
23.84 |
|
Directors
or relatives of directors |
|
66.21 |
|
Other
|
|
9.95 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Engineering and Allied Products. |
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Products : |
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Exports : |
|
||||||||
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Products : |
Engineering and Allied Products |
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Countries : |
·
Kenya ·
Arab Countries ·
Asian Country
|
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Imports : |
|
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Products : |
Raw Materials |
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Countries : |
·
Europe ·
Asia |
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Terms : |
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||||||||
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed
Capacity # |
Actual
Production |
|
Welding Electrodes |
MT |
525 |
402 |
|
Flux Cored Wire |
MT |
600 |
617 |
|
Wear Plate |
Sq. Mtrs. |
12000 |
13328 |
NOTE:
·
# As certified by the
management on single shift basis and being a technical matters, accepted by the
auditors as correct.
·
** As certified by the management,
license from secretariat for industrial assistance, New Delhi is not required
since these products have been delicensed by Central Government.
GENERAL INFORMATION
|
Suppliers : |
·
Premier Industries Limited |
|||||||||||||||||||||
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|
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Customers : |
Wholesalers and Retailers ·
Lafarge India Private Limited |
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No. of Employees : |
300 [Approximately] |
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Bankers : |
· Syndicate Bank, 90, Canal Road, Ramdaspeth, Nagpur – 440010, Maharashtra, India · IDBI Bank Limited, 58 Mission Road, Bangalore - 560027, Karnataka, India · State Bank of India, Hill Road, Bandra Branch, Mumbai – 400050, Maharashtra, India · HDFC Bank |
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
P.R. Bhuta and Company Chartered Accountants |
|
Address : |
2-I, Jeevan Sahakar, Sir P.M. Road, Fort, Mumbai-400001, Maharashtra,
India |
|
Pan No.: |
AACPB3301K |
|
|
|
|
Associates/Subsidiaries : |
·
Diffusion Super Conditioning Services Private
Limited [U51503MH1990PTC124545] ·
Nowelco Industries Private Limited
[U29309CT1999PTC013276] |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3737467 |
Equity Shares |
Rs.10/- each |
Rs.37.375
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 |
37.375 |
37.375 |
37.374 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
324.534 |
259.989 |
207.618 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
361.909 |
297.364 |
244.992 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
84.036 |
121.892 |
110.259 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
84.036 |
121.892 |
110.259 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.594 |
2.503 |
|
|
|
|
|
|
|
|
TOTAL |
445.945 |
419.850 |
357.754 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
168.551 |
141.189 |
144.806 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
28.692 |
29.487 |
17.944 |
|
|
DEFERREX TAX ASSETS |
0.764 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
120.515
|
103.949 |
79.561 |
|
|
Sundry Debtors |
155.086
|
160.499 |
118.097 |
|
|
Cash & Bank Balances |
56.661
|
49.468 |
47.197 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
177.914
|
125.691 |
107.020 |
|
Total
Current Assets |
510.176
|
439.607 |
351.875 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
57.539
|
30.083 |
18.387 |
|
|
Other Current Liabilities |
41.457
|
38.392 |
35.502
|
|
|
Provisions |
163.242
|
121.958 |
102.982
|
|
Total
Current Liabilities |
262.238
|
190.433 |
156.871 |
|
|
Net Current Assets |
247.938
|
249.174 |
195.004 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
445.945 |
419.850 |
357.754 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
736.853 |
605.403 |
610.928 |
|
|
|
Other Income |
10.011 |
7.601 |
7.156 |
|
|
|
TOTAL (A) |
746.864 |
613.004 |
618.084 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed, purchases and manufacturing expenses |
397.497 |
311.470 |
321.893 |
|
|
|
Selling and Administrative Expenses |
101.486 |
91.906 |
82.437 |
|
|
|
Personnel Expenses |
93.718 |
74.664 |
70.529 |
|
|
|
Increase / Decrease in Stock |
(5.583) |
(13.281) |
8.193 |
|
|
|
TOTAL (B) |
587.118 |
464.759 |
483.052 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
159.746 |
148.245 |
135.032 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
8.151 |
9.466 |
12.924 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
151.595 |
138.779 |
122.108 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.307 |
23.687 |
21.994 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
127.288 |
115.092 |
100.114 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
40.552 |
38.998 |
36.203 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
86.736 |
76.094 |
63.911 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD ITEMS
|
0.470 |
1.860 |
0.406 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
159.744 |
114.797 |
78.421 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.626 |
7.423 |
6.351 |
|
|
|
Interim Dividend |
9.344 |
9.344 |
8.417 |
|
|
|
Proposed Dividend |
9.344 |
9.344 |
9.343 |
|
|
|
Dividend for Last Year |
0.002 |
0.000 |
3.018 |
|
|
|
Corporate Dividend Tax |
3.031 |
3.176 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
215.663 |
159.744 |
114.797 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Agency Commission |
3.446 |
0.479 |
2.402 |
|
|
|
Export Sales |
23.490 |
21.200 |
3.655 |
|
|
TOTAL |
26.936 |
21.679 |
6.057 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
6.489 |
6.693 |
10.907 |
|
|
|
Traded Goods |
5.914 |
7.615 |
6.334 |
|
|
|
Capital Goods |
6.246 |
7.480 |
1.741 |
|
|
|
Consumables, Stores and Spare Parts |
1.487 |
1.879 |
11.174 |
|
|
TOTAL IMPORTS |
20.136 |
23.667 |
30.156 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
23.21 |
20.36 |
17.15 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover [Approximately] |
|
|
780.000 |
Expected Sales (2012-13) : Rs.1000.000 Millions.
The above information has been parted by Mr. Chandra Prakash.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
11.61
|
12.41 |
10.34
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.27
|
19.01 |
16.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.75
|
19.82 |
20.15
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.39 |
0.40
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.95
|
1.05 |
1.09
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95
|
2.30 |
2.24
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
|
Due to micro,
medium and small enterprises |
15.740 |
9.924 |
6.685 |
|
Others |
41.799 |
20.159 |
11.702 |
|
Total |
57.539 |
30.083 |
18.387 |
|
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 |
Yes |
|
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 |
Yes |
|
30) Major Shareholders, if available |
Yes |
|
31) PAN
of Proprietor/Partner/Director, if available |
No |
|
32) Passport
No of Proprietor/Partner/Director, if available |
No |
|
33) Voter
ID No of Proprietor/Partner/Director, if available |
No |
History:
Subject was incorporated as a Private Limited company in the
State of
Again the registered office of the company has been shifted
to the State of
REVIEW OF BUSINESS
OPERATIONS:
During the year,
the sales turnover of the company has gone up to Rs. 796.530 Millions as
against Rs. 642.432 Millions during the previous year. This has been due to
relentless efforts put in by the marketing and operations team to increase
market share and to execute orders satisfactorily.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80007467 |
|
Corporate identity
number of the company |
U99999MH2000PLC124154 |
|
Name of the
company |
DIFFUSION
ENGINEERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
T 5 and 6, MIDC, Hingna Industrial Area, Nagpur-440038, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Any Interest in
immovable Property |
|
Particular of
charge holder |
Syndicate Bank,
90, Canal Road, Ramdaspeth, Nagpur – 440010, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1) Composite
hypothecation agreement 2) Confirmation
of creation of second/subsequent equitable mortgage (collectively
constitute single charge) |
|
Date of
instrument Creating the charge |
16.11.2011 |
|
Amount secured by
the charge |
Rs.91.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest - Base
Rate + 1.75% Terms of
Repayment The Borrower
shall on demand pay the whole amount due to the Bank with interest and cost. Margin Stock and Book
Debts 25% Bank Guarantee -
10% Cash Margin Extent and
Operation of the charge Security to cover
principal amount together with interest, costs, charges and expenses etc. Others Details of Credit
Facilities as under :- 1) SODH - Rs.70.000 Millions 2) CDD - Rs. 1.000 Million 3) Bank
Guarantee - Rs.20.000 Millions
---------------------- Total Rs.91.000 Millions |
|
Short particulars
of the property charged |
First and
exclusive charge and security by way of hypothecation of present and future stocks in trade
consisting of raw materials viz. wire, chemicals, alloys, chromium etc., work
in progress, raw Materials, finished
goods, stores and spares, welding electrodes, gas welding rods etc. and book
debts, existing plant and machineries, work shop equipments, laboratory
equipments, furniture and fixtures, Vehicles,
extender stone conveyer system etc. Equitable Mortgage
of immovable properties being, Plot No. N-78 admeasuring 5520 sq. mtrs. and
Plot No.N-79 in Nagpur Industrial Area within the Village limit of Village
Nildoh outside the limit of NMC, Tal. Hingna,
Dist. Nagpur. |
|
Date of latest
modification prior to the present modification |
10.10.2009 |
|
Particulars of
the present modification |
Charge enhanced
from Rs.85.000 Millions to Rs.91.000 Millions. |
CONTINGENT LIABILITIES NOT PROVIDED FOR:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Bank Guarantee |
17.279 |
14.065 |
|
Income Tax
Liability under Dispute |
5.217 |
5.217 |
|
Excise Duty
Liability Disputed |
21.318 |
16.654 |
|
Total |
43.814 |
35.936 |
FIXED ASSETS:
Ø Air Conditioners
Ø Buildings
Ø Computer
Ø Furniture and Fixtures
Ø Land
Ø Office Equipments
Ø Plant and Machinery
Ø Projected
Ø Vehicles
Ø Weighing Machines
Ø Technical Know-how Fees
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.55.41 |
|
|
1 |
Rs.86.93 |
|
Euro |
1 |
Rs.68.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
61 |
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.