|
Report Date : |
09.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOLD PLUS GLASS INDUSTRY LIMITED |
|
|
|
|
Registered
Office : |
G 192, Prashant Vihar, New Delhi 110085, Delhi |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.12.2005 |
|
|
|
|
Com. Reg. No.: |
143705 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 756.603millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26109DL2005PLC143705 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG09385F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Float Glass |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7481308 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company is under pressure. There appears some accumulated losses
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 dealings on a secured 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
G 192, Prashant Vihar, |
|
Tel. No.: |
91-11-47000500 / 27564007 / 27565277 / 27565947 |
|
Fax No.: |
91-11-47000555 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Gold Plus Estate, Village Thithola, Pargana Maglaur, Tehsil Roorkee, |
|
Tel. No.: |
91-1332-257000 |
|
Fax No.: |
91-1332-257033 |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Subhash Tyagi |
|
Designation : |
Director |
|
Address: |
H-4/26, Sector – 11, Rohini, Delhi – 110085, Delhi, India |
|
Date of Birth/Age : |
01.01.1957 |
|
Date of Appointment : |
05.09.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26101DL1991PLC044119 |
GOLD PLUS GLASSES INDIA
LIMITED |
Director |
11/09/2001 |
11/09/2001 |
- |
Amalgamated |
NO |
|
2 |
U26109DL2004PLC124145 |
GOLD PLUS HIMACHAL SAFETY GLASS
LIMITED |
Director |
16/01/2004 |
16/01/2004 |
- |
Amalgamated |
NO |
|
3 |
U26100DL1999PLC198622 |
GOLD PLUS TOUGHENED GLASS
LIMITED |
Managing director |
01/04/2009 |
12/11/2005 |
- |
Amalgamated |
NO |
|
4 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Managing director |
01/04/2009 |
05/09/2006 |
- |
Active |
NO |
|
5 |
U93000DL2009NPL196090 |
FEDERATION OF SAFETY GLASS
|
Director |
17/11/2009 |
17/11/2009 |
- |
Active |
NO |
|
Name : |
Mr. Suresh Tyagi |
|
Designation : |
Director |
|
Address: |
737 Modern Apartment, Sector – 15, Rohini, Delhi – 110085, Delhi,
India |
|
Date of Birth/Age : |
01.12.1960 |
|
Date of Appointment : |
15.12.2005 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26109DL2004PLC124145 |
GOLD PLUS HIMACHAL SAFETY GLASS
LIMITED |
Director |
16/01/2004 |
16/01/2004 |
- |
Amalgamated |
NO |
|
2 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Whole-time director |
01/04/2009 |
15/12/2005 |
- |
Active |
NO |
|
3 |
U26101DL1991PLC044119 |
GOLD PLUS GLASSES INDIA
LIMITED |
Managing director |
01/04/2009 |
20/05/2006 |
- |
Amalgamated |
NO |
|
4 |
U26100DL1999PLC198622 |
GOLD PLUS TOUGHENED GLASS
LIMITED |
Managing director |
11/07/2006 |
11/07/2006 |
- |
Amalgamated |
NO |
|
Name : |
Mr. Jimmy Tyagi |
|
Designation : |
Director |
|
Address: |
H-4/26, Sector – 11, Rohini, Delhi – 110085, Delhi, India |
|
Date of Birth/Age : |
12.11.1983 |
|
Date of Appointment : |
25.08.2006 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26101DL1991PLC044119 |
GOLD PLUS GLASSES INDIA LIMITED
|
Director |
26/08/2002 |
26/08/2002 |
- |
Amalgamated |
NO |
|
2 |
U26109DL2004PLC124145 |
GOLD PLUS HIMACHAL SAFETY
GLASS LIMITED |
Director |
16/01/2004 |
16/01/2004 |
- |
Amalgamated |
NO |
|
3 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Whole-time director |
01/04/2009 |
25/08/2006 |
- |
Active |
NO |
|
Name : |
Mr. Suresh Kumar Uniyal |
|
Designation : |
Director |
|
Address: |
B-8, Press Apartments, Rohini, Delhi – 110092, Delhi, India |
|
Date of Birth/Age : |
04.02.1947 |
|
Date of Appointment : |
04.03.2009 |
|
Date of Ceasing: |
01.06.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26101DL1991PLC044119 |
GOLD PLUS GLASSES INDIA LIMITED
|
Director |
25/09/2009 |
15/10/2008 |
- |
Amalgamated |
NO |
|
2 |
U26100DL1999PLC198622 |
GOLD PLUS TOUGHENED GLASS
LIMITED |
Director |
26/09/2009 |
15/10/2008 |
- |
Amalgamated |
NO |
|
3 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Director |
24/09/2009 |
04/03/2009 |
01/06/2011 |
Active |
NO |
|
Name : |
Mrs. Uma Grover |
|
Designation : |
Director |
|
Address: |
474, Sunehri Apartments, Sector 13, Rohini, Delhi – 110085, Delhi,
India |
|
Date of Birth/Age : |
08.10.1967 |
|
Date of Appointment : |
04.03.2009 |
|
Date of Ceasing: |
01.06.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26101DL1991PLC044119 |
GOLD PLUS GLASSES INDIA
LIMITED |
Director |
25/09/2009 |
15/10/2008 |
- |
Amalgamated |
NO |
|
2 |
U26100DL1999PLC198622 |
GOLD PLUS TOUGHENED GLASS
LIMITED |
Director |
26/09/2009 |
15/10/2008 |
- |
Amalgamated |
NO |
|
3 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Director |
24/09/2009 |
04/03/2009 |
01/06/2011 |
Active |
NO |
|
Name : |
Mrs. Sunita Kapoor |
|
Designation : |
Director |
|
Address: |
AP 13D, Pitampura, Delhi – 110085,
Delhi, India |
|
Date of Birth/Age : |
29.09.1966 |
|
Date of Appointment : |
04.03.2009 |
|
Date of Ceasing: |
01.06.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26101DL1991PLC044119 |
GOLD PLUS GLASSES INDIA
LIMITED |
Director |
25/09/2009 |
15/10/2008 |
- |
Amalgamated |
NO |
|
2 |
U26100DL1999PLC198622 |
GOLD PLUS TOUGHENED GLASS
LIMITED |
Director |
26/09/2009 |
15/10/2008 |
- |
Amalgamated |
NO |
|
3 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Director |
24/09/2009 |
04/03/2009 |
01/06/2011 |
Active |
NO |
|
Name : |
Mr. Vivek Dubey |
|
Designation : |
Director |
|
Address: |
D-153A, 2nd Floor, Prashant Vihar, Delhi – 110085, Delhi,
India |
|
Date of Birth/Age : |
25.09.1974 |
|
Date of Appointment : |
15.07.2009 |
|
Date of Ceasing: |
01.06.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U26109DL2005PLC143705 |
GOLD PLUS GLASS INDUSTRY
LIMITED |
Director |
24/09/2009 |
15/07/2009 |
01/06/2011 |
Active |
NO |
KEY EXECUTIVES
|
Name : |
Mr. Kapil Kumar Sharma |
|
Designation : |
Secretary |
|
Address: |
E-11, Khanna Colony, Sonepat - 131001, Haryana |
|
Date of Birth/Age : |
29.09.1978 |
|
Date of Appointment : |
27.02.2010 |
|
|
|
|
Name : |
Ms. Pooja Gupta |
|
Designation : |
Secretary |
|
Address: |
O-24 Street No. 161, Brahmpuri, Delhi – 110053, Delhi, India |
|
Date of Birth/Age : |
30.09.2010 |
|
Date of Appointment : |
08.12.2010 |
|
|
|
|
Name : |
Mr. Sunil Kumar Dhawan |
|
Designation : |
Secretary |
|
Address: |
D-18/38A Old Govindpura Krishna Nagar, Delhi – 110051, Delhi, India |
|
Date of Birth/Age : |
30.03.1983 |
|
Date of Appointment : |
01.02.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares
|
|
Subhash Tyagi |
12699860
|
|
Suresh Tyagi |
23170812
|
|
Rajnish Tyagi |
2435806
|
|
Jimmy Tyagi |
17602890
|
|
Rajnish Tyagi
and Smt Neelam Tyagi as Joint holders |
1059728
|
|
Rajeev Tyagi |
966200
|
|
Anju Tyagi
W/o Rajnish Tyagi |
620426
|
|
Shashi Tyagi |
5435310
|
|
Suresh Tyagi
HUF |
287730
|
|
Zahid Hassan |
100000
|
|
Praveen Tyagi |
1247700
|
|
Jagdish Tyagi
HUF |
366502
|
|
Vipin Tyagi |
231054
|
|
Sachin Tygai |
200352
|
|
Subhash Tyagi
HUF |
349008
|
|
Neelam Tyagi |
143176
|
|
Sachin Tyagi
HUF |
109000
|
|
Jagdish Tyagi |
441704
|
|
Sangeeta
Tyagi |
85300
|
|
Sajjan Kumar |
180254
|
|
Prachi Tyagi |
65000
|
|
Pradeep Tyagi |
21934
|
|
Kusum Lata |
793654
|
|
Neha Tyagi |
143296
|
|
Sajjan Kumar
HUF |
20000
|
|
Sandeep Tyagi |
13228
|
|
Hari Kumar
Tyagi |
26660
|
|
Laxmi Narain
Singh |
66660
|
|
Urmila Gaur |
133320
|
|
Punit Sharma |
13320
|
|
Sangeeta Roy |
26660
|
|
Vivek Dubey |
53300
|
|
Chandra
Prabha Khurana |
72040
|
|
Renu Bala
Sharma |
146660
|
|
Usha Sharma |
193320
|
|
Gyanendra
Tyagi |
147918
|
|
Anju Tyagi
w/o Dinesh Tyagi |
26660
|
|
Namrata Kumar
W/o Abhinav Kumar |
40000
|
|
Kiranpreet
kaur |
6660
|
|
Sukhsimran
Kaur |
6660
|
|
Pawaneep Kaur |
6680
|
|
Pammi Tyagi |
1368136
|
|
Santosh Bhan |
66660
|
|
Swati Tyagi |
43612
|
|
Balister
Tyagi |
413388
|
|
So M Lata |
153024
|
|
Mahipal Tyagi |
65766
|
|
Arvind Verma |
40400
|
|
Ashish Tyagi |
309102
|
|
Suraj Tyagi |
35232
|
|
Mahipal Tyagi
(Huf) |
17616
|
|
Nisha Bala |
15854
|
|
RSY Financial
Advisory Services Private Limited, Kolkata |
216000
|
|
Aksin
Portfolio Consultant Private Limited, Kolkata |
190000
|
|
HETVI Finance
Consultants Private Limited, Kolkata |
184000
|
|
KPR Exim
Private Limited, Delhi |
31200
|
|
Galaxy Scrap Dealers
Private Limited, Delhi |
18000
|
|
Rishikesh
Traexim Private Limited, Delhi |
12000
|
|
SR Securities Consultants Private Limited, Kolkata |
228000
|
|
DLM
Securities Consultants Private Limited, Kolkata |
226000
|
|
OPA Distributors
Private Limited, Delhi |
31200
|
|
Faridkot Exim
Private Limited, Delhi |
31200
|
|
Nirma
Limited, Gujarat |
2200000
|
|
Chhater Singh |
7500
|
|
Total |
75660332
|
AS ON 26.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
4.45 |
|
Directors or relatives of directors |
|
83.00 |
|
Other |
|
12.55 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Float Glass |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K G Sharma and Company Chartered Accountant |
|
Address : |
201, Anupam Bhawan Commercial Complex, Azadpur, |
|
|
|
|
Name : |
Price Waterhouse and Company Chartered Accountant |
|
Address : |
Building 8, 7th and 8th Floor, Tower B, |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 27.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
78000000 |
Equity Shares |
Rs. 10 each |
Rs.780.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75660332 |
Equity Shares |
Rs. 10 each |
Rs.756.603 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 |
756.603 |
431.714 |
430.000 |
|
|
2] Share Application Money |
0.000 |
193.321 |
123.205 |
|
|
3] Reserves & Surplus |
2166.376 |
618.094 |
564.098 |
|
|
4] (Accumulated Losses) |
(1052.652) |
(221.909) |
(37.967) |
|
|
NETWORTH |
1870.327 |
1021.220 |
1079.336 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3771.372 |
3505.956 |
2804.039 |
|
|
2] Unsecured Loans |
368.621 |
35.735 |
79.290 |
|
|
TOTAL BORROWING |
4139.993 |
3541.691 |
2883.329 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6010.320 |
4562.911 |
3962.665 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5654.446 |
4138.035 |
4144.106 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
708.512
|
759.470
|
274.633 |
|
|
Sundry Debtors |
503.353
|
447.361
|
115.495 |
|
|
Cash & Bank Balances |
25.979
|
24.264
|
14.134 |
|
|
Other Current Assets |
1.248
|
0.839
|
0.394 |
|
|
Loans & Advances |
98.636
|
44.159
|
41.050 |
|
Total
Current Assets |
1337.728
|
1276.093
|
445.706 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
558.503
|
366.446
|
386.844 |
|
|
Other Current Liabilities |
409.113
|
479.112
|
237.592 |
|
|
Provisions |
14.238
|
5.659
|
2.711 |
|
Total
Current Liabilities |
981.854
|
851.217
|
627.147 |
|
|
Net Current Assets |
355.874
|
424.876
|
(181.441) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
6010.320 |
4562.911 |
3962.665 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
3207.090 |
2080.637 |
224.684 |
|
|
|
Other Income |
3.412 |
12.437 |
1.955 |
|
|
|
TOTAL |
3210.502 |
2093.074 |
226.639 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2227.212 |
1033.268 |
222.708 |
|
|
|
Manufacturing service costs |
562.291 |
349.772 |
0.000 |
|
|
|
Employee related expenses |
124.661 |
59.117 |
10.892 |
|
|
|
Administrative selling other expenses |
202.935 |
115.431 |
48.205 |
|
|
|
Increased / Decreased In Stock |
0.000 |
0.000 |
(144.855) |
|
|
|
TOTAL |
3117.099 |
1557.588 |
136.950 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
93.403 |
535.486 |
89.689 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
619.449 |
532.515 |
70.553 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(526.046) |
2.971 |
19.136 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
279.301 |
184.670 |
39.785 |
|
|
|
|
|
|
|
|
|
|
(LOSS) BEFORE PRIOR
PERIOD EXPENSES |
|
|
|
|
|
|
Preliminary and Pre Operative Expenses |
(15.881) |
0.000 |
16.420 |
|
|
|
Prior Period Expenses |
(32.661) |
(2.243) |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(853.889) |
(183.942) |
(37.069) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.898 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(853.889) |
(183.942) |
(37.967) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
19.900 |
25.504 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
40.706 |
32.989 |
37.242 |
|
|
|
Stores & Spares |
12.311 |
6.324 |
1.207 |
|
|
|
Capital Goods |
6.274 |
26.292 |
630.469 |
|
|
TOTAL IMPORTS |
59.291 |
65.605 |
668.918 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(26.59)
|
(8.78)
|
(16.75) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(26.62)
|
(8.84)
|
(16.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(12.21)
|
(3.39)
|
(0.80) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.46)
|
(0.18)
|
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.74
|
4.30
|
3.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36
|
1.50
|
0.71 |
LOCAL AGENCY FURTHER INFORMATION
RESULTS OF OPERATIONS
The Company achieved a turnover of Rs. 3248.000 Millions during the year as compared to Rs. 2080.600 Millions during the previous year. The increase in turnover is due to the increased demand of Glass, addition of Mirror, Reflective and Frosted Glasses and addition of turnover of Sonepat / Kala-Amb Plants.
The Company has incurred a loss of Rs. 853.900 Millions during the year as compared to loss of Rs. 183.900 Millions during the previous year. The increase in loss is due to increased cost of Raw Materials, Furnace Oil and reduction in Selling Prices of Glass.
FUTURE OUTLOOK
The demand for Float Glass in the
country is growing at healthy pace. The Company is continuing its focus on
customer service and improving operational efficiencies. With its strong distribution
network and brand image, the Company is well positioned to meet present and
future competition.
FINANCE
The Term Loan and the Working Capital requirements of the Company have been met from the consortium comprising of Indian Bank, Bank of Baroda, UCO Bank, Indian Overseas Bank and Dena Bank for Roorkee operations and from Axis Bank for Sonepat / Kala-amb operations. The Company fulfilled all its financial obligations during the year. The Directors are very thankful to these Banks for extending their support and cooperation.
BACKGROUND
Subject was incorporated in December 2005 as Public Limited Company under the Companies Act 1956.
The Company started its Commercial Operations in during the financial year 2008-09. As per Honourable Delhi High Court Order dated 23rd February 2011; the following companies have been amalgamated with the subject
company with effect from 1st April, 2009.
· Gold Plus Glasses India Limited (Works at Sonepat, Haryana)
· Gold Plus Toughened Glass Limited (Works at Sonepat, Haryana)
· Gold Plus Himachal Safety Glass Limited (Works at Kala Amb, Himachal Pradesh)
After implementation of the amalgamation scheme; the company now has the following plants:
· Float Glass, Mirror and Other Value Added Glass Manufacturing Plant at Roorkee, Uttarakhand (Manufacturing Division)
· Glass Processing Plants at Sonepat, Haryana (Processing Division)
·
Glass Processing Plant at Kala Amb, Himachal
Pradesh (Processing Division)
FIXED ASSETS:
FORM 8
|
Corporate
identity number of the company |
U26109DL2005PLC143705 |
|
Name of the
company |
GOLD PLUS GLASS INDUSTRY LIMITED |
|
Address of the registered
office or of the principal place of
business in |
G 192, Prashant Vihar, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Any interest in
immovable property Book debts Movable property
(not being pledge) Floating charge Others |
|
Particular of
charge holder |
Indian Bank (Lead Bank), Email: ibnewdelhimain@vsnl.net |
|
Nature of
instrument creating charge |
(1) Agreement for
hypothecation of movable properties of the company (2) Common Loan
Agreement (3) Lenders deed
of accession (4) Novation
notice |
|
Date of
instrument Creating the charge |
01.01.2011 |
|
Amount secured by
the charge |
Rs. 278.600
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Margin As Per Respective
Sanctions Of The Banks Extent and operation of the charge A continuing
charge by way of hypo. of all mov. Assets, p and m and second charge on current asset of the
company, also first charge on pari passu basis by way of emt of 275 bighas of
freehold land and 200 bighas of leasehold land situated at village thitola,
paragna mangalaur, tehsil roorkee, distt. Haridwar owned by the company, in
favour of the lenders for the due repayment of Rs. 278.600 millions.
Together with other money payable by
the company as per agreements executed with the lenders. |
|
Short particulars
of the property charged (Including location of the property) |
Equitable
Mortgage Of 275 Bighas Of Whole Of The Borrower's
Movable Assets Lying,Stored,Installed Or Situated In Godown Or Premises Of
The Borrwer At Village Thitola, Paragna Mangalaur, Tehsil Roorkee, Distt.
Haridwar. Whole Of The
Borrower's Stock,Finished And Semi Finished Goods Lying,Stored Or Situated In Godown Or Premises Of The
Borrwer At Village Thitola, Paragna Mangalaur, Tehsil Roorkee, Distt.
Haridwar. Whole Of The
Borrower's Vehicles,Furnitures Fixtures,Plant And Machinary Lying, Stored Or
Installed In Godown Or Premises At Village Hitola, Paragna Mangalaur, Tehsil
Roorkee, Distt. Haridwar. Whole Of The
Borrower's Any Other Structures Lying, Stored,Constructed Or Installed In
Godown Or Premises At Village Hitola, Paragna Mangalaur, Tehsil Roorkee,
Distt. Haridwar. Whole Of The
Borrower's Movable Assets,Plant And Machinary, Finished Or Semi Finished
Goods,Stock Situated Any Where. Pledge Of 100 %
Shares Of Prmoters In The Company |
|
Particulars of
the present modification |
Earlier There Was
Only One Lender I. E. Indian Bank (New Other Terms And
Conditions Being The Same. |
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.50.57 |
|
|
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.66.49 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.