|
Report Date : |
21.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
INOX AIR PRODUCTS LIMITED [w.e.f. 2000-01] |
|
|
|
|
Formerly Known As : |
INDUSTRIAL
OXYGEN COMPANY LIMITED |
|
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Registered Office : |
7th Floor, Ceejay House, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
04.04.1963 |
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|
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|
Com. Reg. No.: |
11-012625 |
|
|
|
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Capital
Investment / Paid-up Capital : |
Rs.103.407 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24999MH1963PLC012625 |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company |
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|
|
Line of Business : |
Manufacturer, Exporter and Importer of Industrial Gases. |
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|
No. of Employees
: |
750 (in office + in factory) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 30100000 |
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|
|
Status : |
Good |
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Payment Behaviour : |
Clear |
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Litigation : |
Regular |
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Comments : |
Subject is a well established company having good track. Financial
position of the company appears to be sound. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered good for normal 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Ravi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-40323195 |
|
Date : |
20.06.2012 |
LOCATIONS
|
Registered Office : |
7th Floor, Ceejay House, |
|
Tel. No.: |
91-22-40323195 / 40323960 |
|
Fax No.: |
91-22-40323191 / 40323991 |
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E-Mail : |
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|
Website : |
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|
Area : |
4500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Raj Bhavan Road, Somajiguda, 6-3-902 / D / 202, F No.202, Durga
Apartments, Hyderabad, Andhra Pradesh, India |
|
|
|
|
Factory : |
Located At Ø Ahmedabad Ø Bangalore Ø Butibori Ø Barotiwala Ø Bhopal Ø Chennai Ø Indore Ø Jabalpur Ø Jodhpur Ø Jejuri Ø Kalwe Ø Karjan Ø Kalol Ø Mandi-Gobindgarh Ø Nasik Ø Patalganga Ø Pune Ø Pondicherry Ø Portblair Ø Rajkot Ø Surajpur Ø Thane Ø Tarapur Ø Tadipatri Ø Visakhapatnam Ø Vashind Ø Wardha. |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Pavan Devendra Jain |
|
Designation : |
Director |
|
Address : |
Benzer Terrace, 94 |
|
Date of Birth/Age : |
17.05.1951 |
|
Date of Appointment : |
17.10.2004 |
|
DIN No.: |
00030098 |
|
|
|
|
Name : |
Mr. Vivek Devendra Jain |
|
Designation : |
Director |
|
Address : |
47, Golf Links, |
|
Date of Birth/Age : |
16.08.1946 |
|
Date of Appointment : |
31.12.1984 |
|
DIN No.: |
00029968 |
|
|
|
|
Name : |
Mr. Siddharth Pavan Jain |
|
Designation : |
Whole Time Director |
|
Address : |
94, Benzer Terrace, |
|
Date of Birth/Age : |
21.09.1978 |
|
Date of Appointment : |
20.05.2003 |
|
DIN No.: |
00030202 |
|
|
|
|
Name : |
Mr. Subodh Kumar Jain |
|
Designation : |
Director |
|
Address : |
36, Golf Links, |
|
Date of Birth/Age : |
02.04.1952 |
|
Date of Appointment : |
17.07.1976 |
|
DIN No.: |
00031010 |
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|
|
|
Name : |
Mr. Hinman Judsun Wayne |
|
Designation : |
Director |
|
Address : |
7201, |
|
Date of Birth/Age : |
16.08.1946 |
|
Date of Appointment : |
13.01.2003 |
|
DIN No.: |
00449448 |
|
|
|
|
Name : |
Mr. |
|
Designation : |
Director |
|
Address : |
4, |
|
Date of Birth/Age : |
02.08.1959 |
|
Date of Appointment : |
12.01.2004 |
|
DIN No.: |
01794511 |
|
|
|
|
Name : |
Mr. Olivares Enrique Michael |
|
Designation : |
Director |
|
Address : |
2570, |
|
Date of Birth/Age : |
11.10.1955 |
|
Date of Appointment : |
22.09.2009 |
|
DIN No.: |
02853003 |
|
|
|
|
Name : |
Mr. Schult Peter Bruce |
|
Designation : |
Director |
|
Address : |
5, |
|
Date of Birth/Age : |
05.11.1965 |
|
Date of Appointment : |
22.09.2009 |
|
DIN No.: |
02796080 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Mehra |
|
Designation : |
Secretary |
|
Address : |
Ceejay House, 7th Floor, Dr. A. B. Road, Worli,
Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
28.01.1954 |
|
Date of Appointment : |
02.06.2011 |
|
Pan No.: |
AAAPM1041K |
|
|
|
|
Name : |
Mr. Ravi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS
ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Inox Chemicals Private Limited,
|
1560976 |
|
Siddhomal Investments Private Limited |
1553260 |
|
Siddhomal Air Products Private Limited, |
1956400 |
|
Kirit Modi |
200 |
|
Sachin Modi |
200 |
|
Sukko Devi Meena |
200 |
|
Sitashri Trading and Finance Private Limited, |
65414 |
|
Prodair Corporation |
5143777 |
|
Devansh Trading and Finance Private Limited, |
3954 |
|
Siddhpavan Trading and Finance Limited, |
3774 |
|
Sonal Shah |
200 |
|
A K |
125 |
|
Jaswant Singh Anand |
125 |
|
Maya Maglani |
169 |
|
R A Patel |
250 |
|
Vijay Mundra |
500 |
|
Yogesh Bahdur Mathur |
188 |
|
Rakesh Verma |
813 |
|
Amit Agarwal |
113 |
|
Sundra Devi |
138 |
|
Jolly Patel |
113 |
|
Amrit Verma |
375 |
|
Manoj Manekji Dand |
500 |
AS
ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
49.74 |
|
Bodies corporate |
49.75 |
|
Other top fifty shareholders |
0.50 |
|
Others |
0.01 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Industrial Gases. |
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Products : |
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PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
Industrial and Medical Gases |
CuM / Lacs |
12220.05 |
7753.87** |
|
Air Separation Plants |
Nos. |
*** |
-- |
NOTES:
1)
* NA represents ‘Not Applicable’ in view of
Government of India Notification No. S.D.477 (E) dated 25.7.1991.
2)
** Including Production for Captive Consumption.
3)
*** In the opinion of the Management, in view of
the wide range of Air Separation Plants having different capacity etc., installed capacity cannot
4)
Oxygen, Nitrogen and Argon Gases are produced from
the same plant.
5)
Installed capacities are as certified by Management
on which the Auditors have relied, being a Technical matter.
GENERAL INFORMATION
|
No. of Employees : |
750 (in office + in factory) (Approximately) |
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Bankers : |
Ø Axis Bank Limited, Andheri Branch, Royal Accord IV, Lokhandwala Complex, Andheri (West), Mumbai-400053, Maharashtra, India Ø Bank of Maharashtra, 628/29, Sachpir Street, Camp Branch, Pune-411001, Maharashtra, India |
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Facilities : |
|
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|
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Banking
Relations : |
-- |
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|
|
|
Financial Institution : |
BNP Paribas, 20, Collyer Quay, Tung Centre, Singapore-049319 |
|
|
|
|
Auditors : |
|
|
Name : |
Patankar and Associates Chartered Accountant |
|
Address : |
Ameya, 4, Anand Bag Co-Operative Housing Society, 999, Navi Peth,
Pune-411030, Maharashtra, India |
|
Pan No.: |
AABFP8926B |
|
|
|
|
Joint Ventures : |
Bellary Oxygen Company Private Limited CIN No.:- U40200KA2005PTC036482 |
|
|
|
|
Enterprise
having significant influence, its holding / associate companies : |
Ø
Prodair Corporation. Ø
Air Products and Chemicals Inc. Ø
Air Products PLC Ø
Air Products (Middle East) FZE Ø
Air Products SA - NV Ø
Air Products - Singapore PTE Limited. Ø
Air Products - Korea Inc. Ø
Air Products San Fu Company Limited, Taiwan Ø
Air Products GmbH Ø Prodair Air
Products India Private Limited CIN No.:- U24111PN2009PTC133706 |
|
|
|
|
Enterprise over
which key management personnel, or his relative, has significant influence : |
Ø
Inox India Limited CIN No.:- U99999GJ1976PLC018945 Ø
Gujarat Fluorochemicals Limited CIN No.:- L24110GJ1987PLC009362 Ø
Inox Chemicals Private Limited CIN No.:- U74899DL1972PTC110957 Ø Siddhomal and
Sons |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
1500000 |
Preference Shares |
Rs.100/- each |
Rs. 150.000 Millions |
|
|
TOTAL |
|
Rs. 450.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10340697 |
Equity Shares |
Rs.10/- each |
Rs. 103.407
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 |
103.407 |
103.407 |
103.406 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7423.645 |
6003.429 |
4927.176 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
7527.052 |
6106.835 |
5030.582 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2657.260 |
3676.040 |
4191.644 |
|
|
2] Unsecured Loans |
336.704 |
344.498 |
802.363 |
|
|
TOTAL BORROWING |
2993.964 |
4020.538 |
4994.007 |
|
|
DEFERRED TAX LIABILITIES |
1442.042 |
1314.190 |
1131.795 |
|
|
OTHER LIABILITIES |
326.730 |
313.803 |
316.992 |
|
|
|
|
|
|
|
|
TOTAL |
12289.788 |
11755.366 |
11473.376 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9716.893 |
9219.790 |
9212.271 |
|
|
Capital work-in-progress |
382.965 |
868.398 |
523.631 |
|
|
|
|
|
|
|
|
INVESTMENT |
165.031 |
165.026 |
165.026 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
422.533
|
352.226
|
332.735 |
|
|
Sundry Debtors |
943.423
|
724.707
|
844.180 |
|
|
Cash & Bank Balances |
600.217
|
110.458
|
151.037 |
|
|
Other Current Assets |
5.868
|
7.048
|
3.887 |
|
|
Loans & Advances |
886.509
|
1087.107
|
1213.183 |
|
Total
Current Assets |
2858.550
|
2281.546 |
2545.022 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
498.656
|
500.254
|
692.010 |
|
|
Other Current Liabilities |
105.084
|
90.739
|
109.227 |
|
|
Provisions |
229.911
|
188.401
|
171.337 |
|
Total
Current Liabilities |
833.651
|
779.394 |
972.574 |
|
|
Net Current Assets |
2024.899
|
1502.152
|
1572.448 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12289.788 |
11755.366 |
11473.376 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7019.223 |
6026.819 |
4604.001 |
|
|
|
Other Income |
109.741 |
141.657 |
72.437 |
|
|
|
TOTAL (A) |
7128.964 |
6168.476 |
4676.438 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
949.198 |
690.996 |
540.417 |
|
|
|
Manufacturing Expenses |
1802.972 |
1640.494 |
2097.679 |
|
|
|
Employees Related Expenses |
533.714 |
476.290 |
0.000 |
|
|
|
Administrative Expenses |
782.976 |
731.411 |
0.000 |
|
|
|
Expenses Capitalized |
-- |
-- |
(2.715) |
|
|
|
Provision for Impairment Loss |
-- |
-- |
4.665 |
|
|
|
Profit on Assets |
-- |
-- |
(3.606) |
|
|
|
TOTAL (B) |
4068.860 |
3539.191 |
2636.440 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3060.104 |
2629.285 |
2039.998 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
238.405 |
323.418 |
232.477 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2821.699 |
2305.867 |
1807.521 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
709.499 |
631.899 |
484.532 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2112.200 |
1673.968 |
1322.989 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
631.892 |
537.425 |
454.327 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1480.308 |
1136.543 |
868.662 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
787.601 |
1711.348 |
2723.176 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2000.000 |
2000.000 |
1820.000 |
|
|
|
Dividend |
51.703 |
51.703 |
51.703 |
|
|
|
Tax on Dividend |
8.388 |
8.587 |
8.787 |
|
|
BALANCE CARRIED
TO THE B/S |
207.818 |
787.601 |
1711.348 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15.552 |
48.887 |
79.314 |
|
|
|
Service Charges |
NA |
13.827 |
0.000 |
|
|
|
Transport Charges |
NA |
0.611 |
9.375 |
|
|
|
Other |
NA |
0.616 |
0.000 |
|
|
TOTAL EARNINGS |
NA |
63.941 |
88.689 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
118.169 |
101.318 |
112.640 |
|
|
|
Stores & Spares |
22.529 |
33.877 |
7.998 |
|
|
|
Capital Goods |
62.553 |
390.858 |
115.709 |
|
|
|
Traded Goods |
25.711 |
9.714 |
8.719 |
|
|
TOTAL IMPORTS |
228.962 |
535.767 |
245.066 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
143.15 |
109.91 |
84.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
20.76
|
18.43 |
18.57 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
30.09
|
27.78 |
28.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.80
|
14.55 |
11.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.27 |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.70
|
1.00 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.43
|
2.93 |
2.62 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions 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 |
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 |
No |
|
18. Major customers |
No |
|
19. Payments terms |
No |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
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 |
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors
|
|
|
|
|
Creditors due small micro enterprises |
0.359 |
0.542 |
0.234 |
|
Creditors due others |
498.297 |
499.712 |
691.776 |
|
TOTAL |
498.656 |
500.254 |
692.010 |
NOTE
Registered office has been shifted from 56, Jolly Maker Chambers II,
Nariman Point, Mumbai-400021, Maharashtra, India to the present address
w.e.f.01.10.2006.
FORM 8
|
Corporate
identity number of the company |
U24999MH1963PLC012625 |
|
Name of the
company |
INOX AIR PRODUCTS
LIMITED |
|
Address of the
registered office or of the principal place of business in |
7th Floor, Ceejay House, Dr. Annie Besant Road, Worli, Mumbai-400018, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
BNP Paribas, 20, Collyer Quay, Tung Centre, Singapore-049319 |
|
Nature of
instrument creating charge |
Joint Deed of Hypothecation
dated 10th March, 2011. |
|
Date of
instrument Creating the charge |
10.03.2011 |
|
Amount secured by
the charge |
Rs. 532.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 3 months USD
Libor + 200 bps. Terms of repayment 16 (sixteen)
quarterly installments starting at the end of 27th month from the date of
first draw down. Margin 1.30 times Extent and operation of the charge The Foreign Currency
loan of USD 12 Million and Hedging facility are secured by an exclusive first
charge by way of Hypothecation of moveable fixed assets of the Company's unit
at Barotiwala (200 tpd plant). |
|
Short particulars
of the property charged (Including location of the property) |
The foreign
currency loan and hedging facility are secured by an exclusive first charge
by way of Hypothecation of moveable fixed assets of the Company's unit at
Barotiwala (200 tpd plant). |
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. 55.85 |
|
|
1 |
Rs. 87.93 |
|
Euro |
1 |
Rs. 70.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
66 |
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.