MIRA
INFORM REPORT
|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL RUBBER
INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
20.01.1949 |
|
|
|
|
Com. Reg. No.: |
11-006875 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.910
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25199PN1949PLC006875 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEO01206C PNEO00948D PNEO00232B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACO1592L |
|
|
|
|
Legal Form : |
A Closely
Held Public Limited Liability Company. |
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|
|
Line of Business
: |
Manufacturers,
Traders, Dealers, Exporters and Importers of Rubber and Rubber Goods of all
kinds and articles made of real or synthetic rubber. |
|
|
|
|
No. of Employees
: |
600
(approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (55) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1559000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed company having satisfactory track. Directors are reported
as experienced, respectable and resourceful industrialists. Their trade
relations are fair. Financial position is good. Payments are reported to be
regular and as per commitments. The company is
doing well. It can be considered good for any 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.
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
This rating are considered to have moderate degree of safety regarding
timely servicing of financial obligations. Such instruments carry moderate
risk. |
|
Date |
30.04.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
This rating are considered to have moderate degree of safety regarding
timely servicing of financial obligation. Such instruments carry higher
credit risk. |
|
Date |
30.04.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Mukesh |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-26630071 |
|
Date : |
11.09.2012 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-20-66270800 |
|
Mobile No.: |
91-20-26680810 / 26630840 |
|
Fax No.: |
orientalrubber@sm3.sprintrpg.ems.vsnl.net.in mukesh@orientalrubber.com |
|
E-Mail : |
|
|
Website : |
Owned |
|
Location : |
|
|
|
|
|
Factory : |
Gat Nos. 519/2, 521/2, 523 and 525, Village Koregaon, Taluka Shirur, Bhima Nagar Road, District Pune – 412 207, Maharashtra, India |
DIRECTORS
AS ON 21.09.2011
|
Name : |
Mr. Vijeyanand Sadanand Makar |
|
Designation : |
Managing Director |
|
Address : |
Flat
No.701/702 “LYRA” Satellite Towers, Mundhva, Pune – 411036, Maharashtra,
India. |
|
Date of Birth/Age : |
10.10.1930 |
|
Date of Appointment : |
29.01.1965 |
|
DIN No.: |
00020236 |
|
|
|
|
Name : |
Mr. Vikram Vijayanand Makar |
|
Designation : |
Managing Director |
|
Address : |
Kumar
City, Cluster No.1, Plot No.8, Kalyani Nagar, Pune – 411014, Maharashtra,
India |
|
Date of Birth/Age : |
29.01.1963 |
|
Date of Appointment : |
01.09.2007 |
|
DIN No.: |
00020284 |
|
|
|
|
Name : |
Mr. Vishal Vijayanand Makar |
|
Designation : |
Managing Director |
|
Address : |
Cluster
1/13 and 14, Kumar City, Kalyani Nagar, Pune – 411014, Maharashtra, India. |
|
Date of Birth/Age : |
22.08.1965 |
|
Date of Appointment : |
01.09.2007 |
|
DIN No.: |
00020253 |
KEY EXECUTIVES
|
Name : |
Mr. Mukesh |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2011
|
Names of Shareholders |
No. of Shares |
|
Vijeyanand S. Makar |
408502 |
|
Kamlesh Vijeynand
Makar |
55398 |
|
Vishal V. Makar |
513345 |
|
Vikram V. Makar |
513345 |
|
Meetashi
V. Makar |
200 |
|
Poonam V. Makar |
200 |
|
Punvick Investments Private Limited, |
10 |
|
TOTAL
|
1491000 |
AS ON 07.06.2012
|
Names of Allottee |
No. of Shares |
|
Vijeyanand S. Makar |
3 |
|
Kamlesh Vijeynand
Makar |
83091 |
|
Vishal V. Makar |
1076395 |
|
Vikram V. Makar |
1076395 |
|
Meetashi
V. Makar |
300 |
|
Poonam V. Makar |
300 |
|
Punvick Investments Private Limited, |
15 |
|
Satish Kotian, Trustee for shareholders entitled to
fractional bonus shares |
1 |
|
TOTAL
|
2236500 |
AS ON 21.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers,
Traders, Dealers, Exporters and Importers of Rubber and Rubber Goods of all
kinds and articles made of real or synthetic rubber. |
||||||||
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Products : |
Conveyor Belts ·
General
Purpose Belt ·
Heat
Resistant Belts ·
Fire
Resistant Belts ·
Oil
Resistant Belts ·
Chemical
Resistant Belts ·
Hygienic
Belts ·
Rough
Top Belts ·
Profile
Belts ·
Pipe
Conveyor Belts Rubber
Sheets ·
Rubber Sheets for Wear Resistant Applications ·
Skirt Rubber, Scrapers, Chute Lining, Screens ·
Natural, SBR, Nitrile, Neoprene, ·
Butyl, EPDM rubber sheeting ·
Pulley Lagging ·
Pulley Lagging in Diamond, Square, ·
Round profile and Ceramic lagging ·
Other Products ·
Specialized Rubber products ·
Impact Bars ·
Wheel Wedge ·
Buffers |
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Exports : |
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Countries : |
·
South Africa ·
Europe ·
USA ·
Austria |
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Imports : |
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Products : |
·
Raw Material |
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Countries : |
·
Korea ·
China |
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Terms : |
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||||||||
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Selling : |
Cash, Credit |
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|
||||||||
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Conveyor and Transmission Belts |
16500 MT |
15300 MT |
911681 Meters |
|
Other Rubber Products |
8500 MT |
2200 MT |
2011390 Kgs |
Installed capacity depends upon the product mix,
which has been certified by the management and accepted by the auditors without
verification, being a technical matter.
GENERAL INFORMATION
|
Suppliers : |
·
Performance Fibers |
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|
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Customers : |
Wholesalers and Retailers ·
Tata Steel Steel
Bhilai Steel Plant Bokaro Steel Plant Durgapur Steel Plant Rourkela Steel Plant Raw Material Division Indian
Iron and Steel Company Limited
Visakhapatnam Steel Plant
Cement
Fertilizers and Chemicals
- Baroda and Sikka
- Bhatinda, Panipat and Vijapur
Original Equipment Manufacturer
Mining
Power
|
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No. of Employees : |
600 (Approximately) |
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Bankers : |
·
Union
Bank of India, IFB Lead Bank, Sache Peer Street, Cantonment Camp, Pune – 411001,
Maharashtra, India ·
Corporation Bank, Industrial Finance Branch, 14,
Pune Mumbai Road, Wakdewadi, Pune-411003, Maharashtra, India
|
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Facilities : |
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Mohan Deshmukh and Company Chartered Accountants |
|
Address : |
B-306,
Narayan Chambers, 555, Narayan Peth, Pune – 411 030, |
|
Tel. No.: |
91-20-24451898
/ 24451974 / 24484752 / 24484751 |
|
E-Mail : |
|
|
PAN.: |
AACFM1053F |
|
|
|
|
Step Down Subsidiaries : |
|
|
|
|
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Company in which
Directors are directors : |
|
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs. 20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1491000 |
Equity Shares |
Rs.10/- each |
Rs. 14.910
Millions |
|
|
|
|
|
AS ON 21.09.2011
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 |
|
|
|
|
|
|
3727500 |
Equity Shares |
Rs.10/- each |
Rs. 37.275
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 |
14.910 |
14.910 |
14.910 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
374.958 |
308.018 |
264.060 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
389.868 |
322.928 |
278.970 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
828.843 |
729.874 |
658.926 |
|
|
2] Unsecured Loans |
44.374 |
42.332 |
51.066 |
|
|
TOTAL BORROWING |
873.217 |
772.206 |
709.992 |
|
|
DEFERRED TAX LIABILITIES |
24.600 |
23.677 |
23.174 |
|
|
|
|
|
|
|
|
TOTAL |
1287.685 |
1118.811 |
1012.136 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
325.011 |
331.922 |
364.218 |
|
|
Capital work-in-progress |
93.326 |
91.293 |
70.687 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.171 |
0.822 |
0.823 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
442.030
|
308.716
|
288.414
|
|
|
Sundry Debtors |
647.253
|
542.771
|
416.405
|
|
|
Cash & Bank Balances |
29.028
|
54.114
|
41.151
|
|
|
Other Current Assets |
299.549
|
232.561
|
161.027
|
|
|
Loans & Advances |
3.685
|
3.530
|
3.942
|
|
Total
Current Assets |
1421.545
|
1141.692 |
910.939 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
327.366
|
259.316 |
193.043
|
|
|
Other Current Liabilities |
69.323
|
48.180 |
28.319
|
|
|
Provisions |
163.679
|
139.422 |
113.169
|
|
Total
Current Liabilities |
560.368
|
446.918
|
334.531
|
|
|
Net Current Assets |
861.177
|
694.774
|
576.408
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1287.685 |
1118.811 |
1012.136 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2027.279 |
1498.769 |
1632.123 |
|
|
|
Other Income |
25.384 |
24.337 |
25.165 |
|
|
|
TOTAL (A) |
2052.663 |
1523.106 |
1657.288 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1620.976 |
1193.958 |
|
|
|
|
Employee related expenses |
74.491 |
51.737 |
|
|
|
|
Administrative selling other expenses |
100.022 |
78.015 |
|
|
|
|
Restructuring charges |
29.414 |
28.655 |
|
|
|
|
TOTAL (B) |
1824.903 |
1352.365 |
1439.739 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
227.760 |
170.741 |
217.549 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
88.050 |
62.257 |
84.429 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
139.710 |
108.484 |
133.120 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.379 |
37.446 |
39.263 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
103.331 |
71.038 |
93.857 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.684 |
18.062 |
32.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
77.647 |
52.976 |
61.806 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
233.638 |
194.755 |
121.806 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.000 |
5.400 |
6.300 |
|
|
|
Final Dividend and tax thereon |
10.450 |
8.693 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
292.835 |
233.638 |
177.312 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of Manufacturing Items on FOB Basis |
1442.913 |
1021.636 |
1075.379 |
|
|
|
Freight & Insurance on the above |
46.342 |
12.461 |
18.450 |
|
|
TOTAL EARNINGS |
1489.255 |
1034.097 |
1093.829 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
977.153 |
440.022 |
549.803 |
|
|
TOTAL IMPORTS |
977.153 |
440.022 |
549.803 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
52.08 |
33.53 |
41.45 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
3070.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs. 3700.000 Millions
The above information has been parted by Mr. Mukesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.78
|
3.48
|
3.73 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.10
|
4.74
|
5.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.92
|
4.82
|
7.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.22
|
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.68
|
3.78
|
3.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.54
|
2.55
|
2.72 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
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] |
Date of Birth
of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
Yes |
DETAILS OF SUNDRY CREDITORS
(Rs. in Millions)
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Creditors due others – Raw Material |
327.366 |
259.316 |
133.036 |
|
Creditors due small micro enterprises |
0.000 |
0.000 |
0.000 |
|
Creditors for Capital, Engineering and Service |
0.000 |
0.000 |
60.007 |
|
Total |
327.366 |
259.316 |
193.043 |
OPERATIONS
The year has shown satisfactory growth with the total income recorded at Rs.2052.600 millions versus Rs.1523.100 millions of the earlier year, a growth of 34.76%.The sales volume has also gone up by 35.26%. The higher turnover was possible on account of better geographical reach by targeting a larger customer base, expansion in export territories, buoyancy in the domestic market and aided by close coordination among different departments of the company. The higher turnover brought in higher profits. The net profit rose from Rs.52.976 millions for the previous year to Rs.77.647 millions for the year.
OUTLOOK FOR THE
CURRENT YEAR
The company continues its endeavor to maintain a healthy growth by building on the base that has been established. They are mindful of the global economics and its likely impact on Indian businesses in general and on their business in particular.
They believe that the company is well positioned to deal with the resulting economic scenario and by increasing focus on the domestic market and other export territories; they should be able to deal with the general slowdown in the developed economies. The company has allocated funds for capex in line with its business plan.
CONTINGENT
LIABILITIES NOT PROVIDED FOR:
Rs.
in Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
|
Income
Tax demands disputed in Appeals |
NIL |
Nil |
|
Counter Guarantees given to Banks for bank guarantees issued
by the banks |
63.308 |
35.907 |
|
C
Forms not received from the clients [Differential Liability] |
7.356 |
6.659 |
|
Corporate
Guarantee issued. Balance as on 31st March 2010 |
2.360 |
2.360 |
FORM 8
|
Corporate
identity number of the company |
U25199N1949PLC006875 |
|
Name of the
company |
ORIENTAL RUBBER
INDUSTRIES LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Email: mukesh@orientalrubber.com |
|
This form is for |
Creation of
Charge |
|
Type of charge |
|
|
Particular of
charge holder |
Corporation Bank,
Industrial Finance Branch, 14, Pune Mumbai Road, Wakdewadi, Pune-411003,
Maharashtra, India |
|
Nature of instrument
creating charge |
Common deed of
Hypothecation of Movables/ Assets/ Debts |
|
Date of
instrument Creating the charge |
21.06.2012 |
|
Amount secured by
the charge |
Rs. 50.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest Base Rate + 3.50%
i. e. 14% p. a. at present subject to revision from time to time. Terms of Repayment NA Margin As per Sanction
Letter Extent and Operation of the charge Paripassu First
Charge by way of Hypothecation of inventory cum book debts / current assets
with other working capital lenders. Others Collateral
security - a) paripassu 2nd charge on land and building and plant and machinery
at Gat No. 519 to 525, Vil Koregaon
Bhima, Tal Shirur, Pune b) Land and Building, Plant and Machinery at Gat No
735 to 739 Vil Karandi, Shirur Pune c) Land located at Gat no 1268/1 and
1268/2 at Karandi unit. d) Land situated at Gat no 756 at Vil Karandi in name
of Punvick Investments Private Limited. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Paripassu First
Charge by way of Hypothecation of inventory cum book debts / current assets
with other working capital lenders. Collateral
security - a) Paripassu 2nd charge on land and building and plant and
machinery at Gat No. 519 to 525, Vil
Koregaon Bhima, Tal Shirur, Pune b) Land and Building, Plant and
Machinery at Gat No 735 to 739 Vil Karandi, Shirur Pune c) Land located at
Gat no 1268/1 and 1268/2 at Karandi unit. d) Land situated at Gat no 756 at
Vil Karandi in name of Punvick Investments Private Limited. |
TRADE REFERENCES
·
Tata Steel
·
Performance Fibers
FIXED ASSETS
·
Freehold Land
·
Building
·
Plant and Machinery
·
Electrical
Installation
·
Furniture and Fixture
·
Computer
·
Vehicles
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. 55.52 |
|
|
1 |
Rs. 88.84 |
|
Euro |
1 |
Rs. 70.85 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
55 |
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.