1. Summary Information
|
|
|
Country |
|
|
Company Name |
PREMIER
INDUSTRIAL CORPORATION LIMITED |
Principal Name 1 |
Mr. Subhash Chhotalal Morzaria |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Arvind Chhotalal Morzaria |
|
|
|
Registration # |
11-172955 |
|
Street Address |
501-507 C Wing,
Bhaveshwar Plaza, 5th Floor, L B S Marg, Opposite Shreyas Cinema,
Ghatkopar (West), Mumbai 400086, Maharashtra, India |
||
|
Established Date |
08.08.2007 |
SIC Code |
-- |
|
Telephone# |
91-22-25003802 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-25000225 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Ferro Alloy Powder |
|
|
# of employees |
50 Approximately |
Product Name 2 |
Metal Powders |
|
Paid up capital |
Rs.83,992,330/- |
Product Name 3 |
Industrial Chemical |
|
Shareholders |
Directors or relatives of
directors - 14.57% Other top fifty shareholders - 85.43% |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
-- |
Business Period |
5 Years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (47) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
505,439,000 |
Current Liabilities |
55,653,000 |
|
Inventories |
295,040,000 |
Long-term Liabilities |
527,410,000 |
|
Fixed Assets |
255,669,000 |
Other Liabilities |
100,958,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
684,021,000 |
|
Invest& other Assets |
2,181,000 |
Retained Earnings |
290,316,000 |
|
|
|
Net Worth |
374,308,000 |
|
Total Assets |
1,058,329,000 |
Total Liab. & Equity |
1,058,329,000 |
|
Total Assets (Previous Year) |
861,729,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
1,124,964,000 |
Net Profit |
45,655,000 |
|
Sales(Previous yr) |
962,888,000 |
Net Profit(Prev.yr) |
55,738,000 |
MIRA
INFORM REPORT
|
Report Date : |
29.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER INDUSTRIAL CORPORATION LIMITED |
|
|
|
|
Registered
Office : |
501-507 C Wing, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation
: |
08.08.2007 |
|
|
|
|
Com. Reg. No.: |
172955 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.83.992 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27101MH2007PLC172955 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMP24480B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAECP3518M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Ferro Alloy Powder, Metal Powders, Industrial Chemical
|
|
|
|
|
No. of Employees
: |
50 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1500000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject has taken over the running business of Premier Industrial
Corporation erstwhile a partnership concern. It is an established company having satisfactory track. There appears some
dip in the profitability of the company in the current year. However,
financials of the company appears to be good. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 /Factory: |
501-507 C Wing, Bhaveshwar Plaza, 5th Floor, L B S Marg, Opposite
Shreyas Cinema, Ghatkopar (West), Mumbai 400086, Maharashtra, India |
|
Tel. No.: |
91-22-25003802 |
|
Fax No.: |
91-22-25000225 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
10000 sq. ft |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Subhash Chhotalal Morzaria |
|
Designation : |
Director |
|
Address : |
Room No.502/E, 5th Floor, Kukreja Palace II, Vallabh Baug
lane, Ghatkopar (East), Mumbai - 400075, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1958 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762794 |
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 |
U27200MH1991PLC062257 |
KEMSTAR
METALS LIMITED |
Director |
27-06-91 |
27-06-91 |
- |
Amalgamated |
NO |
|
2 |
U27101MH2007PLC172955 |
PREMIER
INDUSTRIAL CORPORATION LIMITED |
Director |
08-08-07 |
08-08-07 |
- |
Active |
NO |
|
Name : |
Mr. Dilip Chhotalal Morzaria |
|
Designation : |
Director |
|
Address : |
101, New Kailash Mansion, 1st Floor, Derasar Lane, Ghatkopar (East),
Mumbai – 400077, Maharashtra, India |
|
Date of Birth/Age : |
12.07.1957 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762801 |
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 |
U27200MH1991PLC062257 |
KEMSTAR
METALS LIMITED |
Director |
27-06-91 |
27-06-91 |
- |
Amalgamated |
NO |
|
2 |
U24111KA1986PTC007585 |
SPECTRA
GASES PRIVATE LIMITED |
Director |
31-12-06 |
31-12-06 |
11-01-11 |
Active |
NO |
|
3 |
U27100MH2004PLC146549 |
GROVER
METALLOYS LIMITED |
Director |
30-09-08 |
01-07-07 |
29-11-10 |
Active |
NO |
|
4 |
U27101MH2007PLC172955 |
PREMIER
INDUSTRIAL CORPORATION LIMITED |
Director |
08-08-07 |
08-08-07 |
- |
Active |
NO |
|
Name : |
Mr. Arvind Chhotalal Morzaria |
|
Designation : |
Director |
|
Address: |
9-A, Devang Apartments, 83 Garodia Nagar, Ghatkopar (East), Mumbai –
400077, Maharashtra, India |
|
Date of Birth/Age : |
22.02.1952 |
|
Date of Appointment : |
08.08.2007 |
|
DIN No.: |
00762810 |
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 |
U27200MH1991PLC062257 |
KEMSTAR
METALS LIMITED |
Director |
27-06-91 |
27-06-91 |
- |
Amalgamated |
NO |
|
2 |
U27100MH2004PLC146549 |
GROVER
METALLOYS LIMITED |
Director |
30-09-08 |
01-07-07 |
29-11-10 |
Active |
NO |
|
3 |
U27101MH2007PLC172955 |
PREMIER
INDUSTRIAL CORPORATION LIMITED |
Director |
08-08-07 |
08-08-07 |
- |
Active |
NO |
|
Name : |
Mr. Lalit Navinchandra Morzaria |
|
Designation : |
Director |
|
Address: |
6, Kamal Apartment, 90 Feet Road, Garodia Nagar, Ghatkopar (East), Mumbai
– 400077, Maharashtra, India |
|
Date of Birth/Age : |
14.09.1977 |
|
Date of Appointment : |
08.08.2007 |
|
00762794 |
00762815 |
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 |
U27200MH1991PLC062257 |
KEMSTAR
METALS LIMITED |
Director |
13-08-05 |
13-08-05 |
- |
Amalgamated |
NO |
|
2 |
U27101MH2007PLC172955 |
PREMIER
INDUSTRIAL CORPORATION LIMITED |
Director |
08-08-07 |
08-08-07 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Arvind Chhotalal Morzaria |
|
2633700 |
|
Dilip Chhotalal Morzaria |
|
2078775 |
|
Subhash Chhotalal Morzaria |
|
1784550 |
|
Lalit Morzaria |
|
539587 |
|
Arvind Chhotalal Morzaria (Huf) |
|
40000 |
|
Dilip Chhotalal Morzaria (Huf) |
|
40000 |
|
Subhash Chhotalal Morzaria (Huf) |
|
40000 |
|
Chhotalal Mathurdas Morzaria |
|
69 |
|
Bharati Arvind Morzaria |
|
69 |
|
Veena Dilip Maniyar |
|
69 |
|
Kalpana Dilip Morzaria |
|
69 |
|
Nirmala N. Morzaria |
|
138069 |
|
Rushina S. Morzaria |
|
69 |
|
Anand Dilip Morzaria |
|
69 |
|
Meet Arvind Morzaria |
|
69 |
|
Smeet Arvind Morzaria |
|
69 |
|
Kiran Devji Keniya |
|
36800 |
|
Rajendra Himatlal Gandhi |
|
18400 |
|
Varsha Ramesh Mehta |
|
18400 |
|
Abhishek Dilip Mehta |
|
18400 |
|
Dilip Shantilal Mehta |
|
64400 |
|
Shaila Dilip Mehta |
|
64400 |
|
Madhvi M. Shah |
|
36800 |
|
Mehul Tansukhlal Shah |
|
55200 |
|
Dinesh Laxmishankar Gor |
|
64400 |
|
Kishor Maganlal Hindocha |
|
149500 |
|
Kalidas R. Raiththa |
|
149500 |
|
Sameer Sureshchandra Shah |
|
34500 |
|
Dinesh Laxmishankar Gor(Huf) |
|
18400 |
|
Bharat Balkrishna Parekh |
|
322000 |
|
Navin P Vora |
|
11500 |
|
Madan Singh Purohit |
|
18400 |
|
Abhishek Dilip Mehta |
|
23000 |
|
TOTAL |
|
8399233 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
14.57 |
|
Other top fifty shareholders |
|
85.43 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Ferro Alloy Powder, Metal Powders, Industrial Chemical
|
GENERAL INFORMATION
|
No. of Employees : |
50 Approximately |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D P Sangoi and Company Chartered Accountants |
|
Address : |
4 Shree Niwas Building, |
|
PAN No.: |
AAPPS9160C |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8399233 |
Equity Shares |
Rs.10/- each |
Rs.83.992 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 |
83.992 |
83.992 |
83.992 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
290.316 |
244.661 |
188.924 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
374.308 |
328.653 |
272.916 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
305.817 |
229.932 |
107.547 |
|
|
2] Unsecured Loans |
221.593 |
87.910 |
77.943 |
|
|
TOTAL BORROWING |
527.410 |
317.842 |
185.490 |
|
|
DEFERRED TAX LIABILITIES |
2.745 |
1.680 |
2.239 |
|
|
|
|
|
|
|
|
TOTAL |
904.463 |
648.175 |
460.645 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
255.669 |
191.710 |
161.372 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.083 |
1.083 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
295.040
|
263.195
|
86.635 |
|
|
Sundry Debtors |
303.200
|
237.766
|
312.664 |
|
|
Cash & Bank Balances |
23.605
|
6.885
|
1.372 |
|
|
Other Current Assets |
0.000
|
0.000
|
11.358 |
|
|
Loans & Advances |
178.634
|
159.844
|
120.846 |
|
Total
Current Assets |
800.479
|
667.690
|
532.875 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.653
|
129.063
|
136.816 |
|
|
Other Current Liabilities |
0.000
|
0.000
|
37.375 |
|
|
Provisions |
98.213
|
84.491
|
60.850 |
|
Total
Current Liabilities |
153.866
|
213.554
|
235.041 |
|
|
Net Current Assets |
646.613
|
454.136
|
297.834 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
1.098 |
1.246 |
1.437 |
|
|
|
|
|
|
|
|
TOTAL |
904.463 |
648.175 |
460.645 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
1124.694 |
962.888 |
979.568 |
|
|
|
Other Income |
1.232 |
0.517 |
2.620 |
|
|
|
TOTAL (A) |
1125.926 |
963.405 |
982.188 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Materials Changes Inventories |
868.592 |
731.094 |
|
|
|
|
Manufacturing Service Costs |
65.328 |
56.411 |
|
|
|
|
Employee Related Expenses |
6.537 |
5.062 |
|
|
|
|
Administrative Selling Other Expenses |
46.528 |
38.478 |
|
|
|
|
TOTAL (B) |
986.985 |
831.045 |
825.677 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
138.941 |
132.360 |
156.511 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
51.343 |
33.014 |
28.583 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
87.598 |
99.346 |
127.928 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
14.254 |
15.457 |
11.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
73.344 |
83.889 |
116.808 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
27.689 |
28.151 |
40.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
45.655 |
55.738 |
76.429 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.44 |
6.63 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.05
|
5.78
|
7.78 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.52
|
8.71
|
11.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.94
|
9.76
|
16.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.26
|
0.42 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.82
|
1.62
|
1.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.20
|
3.13
|
2.26 |
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) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U27101MH2007PLC172955 |
|
Name of the
company |
PREMIER INDUSTRIAL CORPORATION LIMITED |
|
Address of the
registered office or of the principal place of business in |
501-507 C Wing, Bhaveshwar Plaza, 5th Floor, L B S Marg,
Opposite Shreyas Cinema, Ghatkopar (West), Mumbai 400086, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Any interest in immovable property Immovable property |
|
Particular of
charge holder |
Bank of Email: shirishshetye@gmail.com |
|
Nature of
instrument creating charge |
Supplemental Memorandum
of Entry of Deposit By way of Extension of Equitable Mortgage. |
|
Date of
instrument Creating the charge |
13/04/2012 |
|
Amount secured by
the charge |
Rs.519.600
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest to be
charged as per sanction/review of the account from time to time. Extent and operation of the charge The charge is
modified to secure the due repayment, discharge and redemption of the balance
due under the various credit facilities* aggregating to Rs.439.600 Millions
sanctioned to the Company and Line of Credit facility of Rs.80.000 Millions
sanctioned to M/s. Kamman Corporation, a Partnership Firm, together with
interest, addl. interest, compound interest, further interest by way of
liquidated damages, commitment charges, premia on prepayment or on
redemption, costs, charges and expenses. Others * Cash Credit -
Rs.350.000 Millions [with sub-limit : BP/BD - Rs.15.000 Millions, DP/DA LC
(Import/Inland) - Rs.250.000 Millions], Term Loan 1 - Rs.14.900 Millions,
Term Loan 2 - Rs.7.000 Millions, Term Loan 3 - Rs.7.700 Millions, Term Loan 4 (Fresh) - Rs.30.000
Millions and Term Loan 5 (Fresh) - Rs.30.000 Millions. |
|
Short particulars
of the property charged (Including location of the property) |
Plot No.L-140,
adm. 4050 sq. mtrs., alongwith the structurere standing thereon, in the
Taloja Industrial Area, within the village Tondare and outside the limits of
Municipal Council in rural area, Taluka Panvel Plot No.R-509,
Adm. 1210 sq. mtrs. with structure standing thereon in Trans Thane Creek
Industrial Area, Village Tetavali, Taluka and District Thane. Plot No.R-532,
Adm. 1000 sq. mtrs. with structure standing thereon in Trans Thane Creek
Industrial Area, Village Tetavali, Taluka and District Thane. Plot No.R-533,
Adm. 1000 sq. mtrs. with structure standing thereon in Trans Thane Creek
Industrial Area, Village Tetavali, Taluka and District Thane. Office Premises
Nos. 501 to 506 on 5th Floor, in Kailas Corporate Lounge S.No.136 (p), CTS
No.1/7 to 1/11, Village Ghatkopar, Taluka Kurla, District Mumbai. |
|
Date of instrument modifying the charge |
25.08.2008 |
|
Particulars of
the present modification |
The charge on
immoveable properties is increased upto Rs.519.300 Millions to cover Cash
Credit - Rs.350.000 Millions [with sub-limit : BP/BD - Rs.15.000 Millions,
DP/DA LC (Import/Inland) - Rs.250.000 Millions], Term Loan 1 - Rs.14.900
Millions, Term Loan 2 - Rs.7.000 Millions, Term Loan 3 - Rs.7.700 Millions,
Term Loan 4 (Fresh) - Rs.30.000 Millions and Term Loan 5 (Fresh) - Rs.30.000
Millions, aggregating to Rs.439.600 Millions sanctioned to the Company and
Line of Credit facility of Rs.80.000 Millions
sanctioned to M/s. Kamman Corporation, a Partnership Firm. |
FIXED ASSETS:
- Air
Conditioner
- Computers
- Electrical
Installation
- Plant and
Machinery
- Furniture
- MIDC Plot 140
Taloja
- Laptop
- Mobile Phone
- Printer
- Land
- Typewriter
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.55.26 |
|
|
1 |
Rs.86.90 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.