MIRA
INFORM REPORT
|
Report Date : |
03.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
VAYHAN COFFEE LIMITED |
|
|
|
|
Registered
Office : |
H. No. 1-155, Sy. No. 108/A, Kompally Main Road,
Rangareddi, Secunderabad – 500014, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.12.2005 |
|
|
|
|
Com. Reg. No.: |
01-048531 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.283.830 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15492AP2005PLC048531 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCL1669G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Instant Coffee. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
company recorded delay in paying its debt which stretch the liquidity
position. However, the company has performed well in the current year and
wipe out its accumulated losses. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings with great
caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 |
ICRA |
|
Rating |
LONG TERM FUND BASED : ICRA D |
|
Rating Explanation |
This rating are in default or are expected to be in default soon |
|
Date |
January, 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.
LOCATIONS
|
Registered Office / Corporate Office : |
H. No. 1-155, Sy. No. 108/A, Kompally Main Road,
Rangareddi, Secunderabad – 500014, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27165330 / 27165328 / 5329 |
|
Fax No.: |
91-40-27141028 / 27165330 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
S.No.141, Garlamadugu Village, Pedavegi Mandal, West
Godavari District- 534 450, Andhra Pradesh, India |
|
Tel. No.: |
91-8812-259991 to 8 |
|
E-Mail : |
DIRECTORS
As on 21.09.2012
|
Name : |
Mr. Datla Rama Raju |
|
Designation : |
Managing Director |
|
Address : |
8-115, Alwal, Secunderabad – 500010, Andhra Pradesh, India |
|
Date of Birth/Age : |
13.06.1962 |
|
Date of Appointment : |
22.12.2005 |
|
PAN No.: |
AFYPD1592H |
|
DIN No.: |
00280156 |
|
|
|
|
Name : |
Mr. Kanumuri Venkata Krishnam Raju |
|
Designation : |
Whole-Time Director |
|
Address : |
63-3-596/9, Venkata Ramana Colony, Khairatabad, Hyderabad – 500004,
Andhra Pradesh, India |
|
Date of Birth/Age : |
25.07.1963 |
|
Date of Appointment : |
24.11.2011 |
|
PAN No.: |
ADOPK8293Q |
|
DIN No.: |
00280217 |
|
|
|
|
Name : |
Mr. Gopal Kandadai |
|
Designation : |
Director |
|
Address : |
801/a, Ambience Avenue, SRI Nagar Colony, Hyderabad – 500073, Andhra
Pradesh, India |
|
Date of Birth/Age : |
22.07.1944 |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
00306607 |
|
|
|
|
Name : |
Mr. Rama Surya Paramananda Raju Datla |
|
Designation : |
Director |
|
Address : |
8-115, Alwal, Secunderabad – 500010, Andhra Pradesh, India |
|
Date of Birth/Age : |
06.08.1957 |
|
Date of Appointment : |
22.12.2005 |
|
PAN No.: |
ACLPD7218C |
|
DIN No.: |
00306612 |
|
|
|
|
Name : |
Mr. Venkata Suryanarayana Raju Gadhiraju |
|
Designation : |
Director |
|
Address : |
D-37, Madhura Nagar, Hyderabad – 500038, Andhra Pradesh, India |
|
Date of Birth/Age : |
04.12.1964 |
|
Date of Appointment : |
30.03.2012 |
|
DIN No.: |
00306615 |
|
|
|
|
Name : |
Mr. Jayaram Sharma Achanta |
|
Designation : |
Director |
|
Address : |
14-40/3A, Srinivasapuram, Ramanthapur, Hyderabad – 500003, Andhra
Pradesh, India |
|
Date of Birth/Age : |
07.07.1949 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
01057102 |
|
|
|
|
Name : |
Mr. Sundararamaraju Penumatsa |
|
Designation : |
Whole-Time Director |
|
Address : |
90 Av, Subba Raju LIG, 438 KPHB Colony, Ranga Reddy, Hyderabad – 500072,
Andhra Pradesh, India |
|
Date of Birth/Age : |
25.07.1971 |
|
Date of Appointment : |
24.11.2011 |
|
DIN No.: |
01507050 |
|
|
|
|
Name : |
Mr. Sreenivasa Rao Ravinuthala |
|
Designation : |
Director |
|
Address : |
32-126/3, Bank Colony, Ramakrishnapuram, Secunderabad – 500056, Andhra
Pradesh, India |
|
Date of Birth/Age : |
07.11.1955 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
03271625 |
|
|
|
|
Name : |
Mr. Undavalli Paparao |
|
Designation : |
Director |
|
Address : |
340, Carr Manor Court, Ballwin, USA, Missouri 63021 |
|
Date of Birth/Age : |
10.05.1968 |
|
Date of Appointment : |
18.05.2012 |
|
DIN No.: |
05263236 |
|
|
|
|
Name : |
Mr. Undavalli Ramu |
|
Designation : |
Alternate Director |
|
Address : |
D No.3-148 (U and M), Nest Godavari, District Pedavegi, Andhra
Pradesh, India |
|
Date of Birth/Age : |
13.04.1972 |
|
Date of Appointment : |
18.05.2012 |
|
DIN No.: |
05263249 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2012
DETAILS OF SHAREHOLDING FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
6.63 |
|
Directors or relatives of directors |
|
42.50 |
|
Other top fifty shareholders |
|
18.52 |
|
Others |
|
32.35 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Instant Coffee. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
||||||||||||||||||
|
Bankers : |
State Bank of
India, Mid-Corporate Group, Overseas Branch, 241/A, Rajala Centre, Road No.36,Jubilee
Hills, Hyderabad – 500033, Andhra Pradesh, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
GMK Associates Chartered Accountants |
|
Address : |
607, Raghava Ratna Towers, Chirag Ali Lane, Abids, Hyderabad-500001, Andhra Pradesh, India |
|
PAN No.: |
AACFG7582R |
|
|
|
|
Associates : |
· Kanhan Packages (Private) Limited, India CIN No.: U21022AP1990PTC011964 · Future Enterprises Pte Limited, Singapore (upto 14.11.2011) |
|
|
|
|
Related Parties : |
· Vayhan Air Controls (Private) Limited CIN No.: U29191AP2003PTC041991 · Gosthani Hitech Cartons (Private) Limited CIN No.: U21029AP1999PTC031657 · Deccan Polypacks Limited CIN No.: L24134AP1984PLC005215 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29000000 |
Equity Shares |
Rs.10/- each |
Rs.290.000 Millons |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28383000 |
Equity Shares |
Rs.10/- each |
Rs.283.830
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
283.830 |
283.830 |
210.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
51.012 |
|
|
3] Reserves & Surplus |
10.284 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(26.412) |
(22.573) |
|
|
NETWORTH |
294.114 |
257.418 |
187.427 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
422.190 |
500.686 |
688.943 |
|
|
2] Unsecured Loans |
41.420 |
43.632 |
17.469 |
|
|
TOTAL BORROWING |
463.610 |
544.318 |
706.412 |
|
|
DEFERRED TAX LIABILITIES |
6.146 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
763.870 |
801.736 |
944.851 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
558.493 |
614.017 |
668.593 |
|
|
Capital work-in-progress |
14.839 |
14.839 |
14.178 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.254 |
0.244 |
0.100 |
|
|
DEFERREX TAX ASSETS |
0.000 |
20.279 |
4.986 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
266.851
|
225.192 |
232.098 |
|
|
Sundry Debtors |
117.601
|
99.415 |
100.408 |
|
|
Cash & Bank Balances |
10.490
|
10.609 |
10.562 |
|
|
Other Current Assets |
1.932
|
15.115 |
0.000 |
|
|
Loans & Advances |
26.528
|
25.710 |
31.417 |
|
Total
Current Assets |
423.402
|
376.041 |
374.485 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.585
|
48.190 |
110.366 |
|
|
Other Current Liabilities |
137.396
|
164.229 |
6.391 |
|
|
Provisions |
25.137
|
11.265 |
0.734 |
|
Total
Current Liabilities |
233.118
|
223.684 |
117.491 |
|
|
Net Current Assets |
190.284
|
152.357 |
256.994 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
763.870 |
801.736 |
944.851 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
994.434 |
778.939 |
638.225 |
|
|
|
Other Income |
6.427 |
7.082 |
2.512 |
|
|
|
TOTAL (A) |
1000.861 |
786.021 |
640.737 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
660.318 |
538.645 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(36.231) |
(14.070) |
|
|
|
|
Employee benefit expense |
6.377 |
5.093 |
|
|
|
|
Other expenses |
148.191 |
162.219 |
|
|
|
|
TOTAL (B) |
778.655 |
691.887 |
484.625 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
222.206 |
94.134 |
156.112 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
81.508 |
78.149 |
76.484 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
140.698 |
15.985 |
79.628 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
63.528 |
62.433 |
61.679 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
77.170 |
(46.448) |
17.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
42.974 |
(15.292) |
11.362 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.196 |
(31.156) |
6.587 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
874.911 |
749.125 |
550.100 |
|
|
TOTAL EARNINGS |
874.911 |
749.125 |
550.100 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
251.201 |
259.951 |
144.452 |
|
|
|
Stores & Spares |
0.648 |
0.000 |
0.000 |
|
|
|
Capital Goods |
0.000 |
1.335 |
0.000 |
|
|
TOTAL IMPORTS |
251.849 |
261.286 |
144.452 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.20 |
(1.33) |
0.31 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.42 |
(3.96) |
1.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.76 |
(5.96) |
2.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.86 |
(4.69) |
1.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
(0.18) |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.58 |
2.11 |
3.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81 |
1.68 |
3.19 |
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 |
No |
|
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 |
Yes |
|
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 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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
DETAILS OF
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
Fully Convertible Debentures |
30.000 |
29.844 |
|
Intercorporate Borrowings |
7.055 |
9.788 |
|
Loans and Advances from Others |
4.365 |
4.000 |
|
Total |
41.420 |
43.632 |
NOTE:
The registered office
address of the company has been shifted from “H. No. 1-55, Sy. No. 108/A,
Kompally Main Road, Hyderabad – 500014, Andhra Pradesh, India” to the present
address w.e.f. 01.07.2012.
REVIEW OF OPERATIONS
During the year, the company has exported Instant Coffee to more than 20 countries. The Company’s operations resulted in total sales revenue of Rs.940.300 Millions, (Previous Year Rs.772.700 Millions) which is an increase of about 21% from the previous year. The Profit before tax during the year is Rs.77.200 Millions (Previous Year Loss Rs.46.400 Millions). After adjusting for the current year MAT, the profit for the current year stands at Rs.60.600 Millions The improved profitability is due to better sales realization. While retaining all the existing customers during the year, the company has added 5 more customers to its portfolio.
As per the provisional data available, the total export of Indian Instant Coffee is close to about 27,000 MT. Out of which the company’s market share is slightly more than 10% of the total Indian Instant Coffee exports.
The green coffee prices have witnessed wide fluctuations during the year 2011-12. The yearly average London Price for Robusta Coffee is at US$ 2,126/ MT, Maximum Monthly Average price being US$ 2,560/ MT and the minimum monthly average price is at US$ 1,841/ MT. In the case of Arabica the annual monthly average price is US$ 4,457/ MT, Maximum Monthly Average price being US$ 5,098/ MT and the minimum monthly average price is at US$ 3,699/ MT as per the data published by International Coffee Organization.
FUTURE OUTLOOK
The demand for instant coffee is growing in almost all the markets and the company is trying to add new customers and new markets. The company is targeting a growth to the extent of 15% in terms of volume and value during the next financial year 2012-13. Due to the increased demand for instant coffee, there is an increased demand for green coffee beans as well and it is expected that the green coffee prices may see an upward trend. Under these situations, the company is trying to improve the level of inventories to hedge from the adverse fluctuation of raw materials. This is most essential for the company in view of long term sale contracts entered with its customers. Moreover, the availability of green coffee is also depends on the crop season at various geographies. During the next financial year, the company is actively pursuing to add ‘3 in 1 coffee” as a new product in its portfolio for domestic as well as export markets.
CONTINGENT
LIABILITIES AND COMMITMENTS (TO THE EXTENT NOT PROVIDED FOR)
(Rs. In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
|
Contingent
Liabilities |
|
|
|
Guarantees (For Fire Safety with A.P Fire Services Department) |
0.170 |
0.170 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U15492AP2005PLC048531 |
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|
Name of the company |
VAYHAN COFFEE LIMITED |
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|
Address of the registered office or of the principal place of business in India of the company |
H. No. 1-55, Sy. No. 108/A, Kompally Main Road, Hyderabad – 500014, Andhra Pradesh, India E-mail Id : kk@vayhan.in |
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|
This form is for |
Modification of charge |
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|
Charge identification (ID) number of the charge to be modified |
10143152 |
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|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge Others (Personal Guarantee) |
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|
Particular of charge holder |
State Bank of India, Mid-Corporate Group, Overseas Branch, 241/A, Rajala Centre, Road No.36,Jubilee Hills, Hyderabad – 500033, Andhra Pradesh, India E-mail Id : g.suresh@sbi.co.in |
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|
Nature of instrument creating charge |
Working Capital Consortium Agreement, Joint Deed of Hypothecation and Inter Se Agreement. |
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|
Date of instrument Creating the charge |
02.11.2012 |
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|
Amount secured by the charge |
Rs.321.000 Millions |
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|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest SBI:CC-3.75% above BR,EPC-1.25% above BR,SLC-1% above BR and Term Loan-3.95% above BR.SBM: Non LC-5.25% above BR,EPC/PCFC-as applicable to export credit rupe PC and RBI guidelines, FDBP/FUBP Terms of Repayment on demand Margin SBI: RM/SIP/FG-25%, Receivables - 40%, LC and BG-15 and, EPC-10%. SBM:RM, SIP and FG-25% and Receivables cover period 60 days -40%, EPC/PCFC, LC and BG-15% Extent and Operation of the charge The charge operates as a security for the repayment of credit facility availed by the Company together with the payment of interest and any other charges, costs and expenses payable to or incurred by the Bank. |
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Short particulars of the property or asset(s) charged (including complete address and location of the property) |
SBI: Primary-pari-passu first hypothecation charge on stocks, receivables, and other current assets along with SBM. Collateral (WC)-Extension of EM of Company's Land and Buildings and Hypothecation charge over movable fixed assets on pari-passu basis with SBM. EM of agricultural land of 20.35 acres located at sy nos. 137/1,138/1,139/1 and 140, Garlamadugu village, pedavegi mandal, WG district belonging to D Rama Raju on pari-passu basis along with SBM. EM of residential property admeasuing 301 sq yds located at H. No.8-115, Plot No.11, Golnaka Alwal, Secunderabad with structures belonging to D Subhadramma on pari-passu basis along with SBM. EM of commercial property adm 256 and 198sq yds at P No.1,Sy No.499, H No.1-62/1, Tyagaraya Nagar, RR district belonging to Rama raju and Subhadramma respectively pari-passu basis along with SBM. SBM: Collateral: WDV (as on 31.03.2012) Rs.558.500 Millions Less: O/s TL: Rs.250.400 Millions Residual value Rs.303.840 Millions. Pledge of promoters share holding in the Company amounting to 10.92% of paid up capital comprising of 2292500 shares. Personal Guarantee for SBM: D. P. Rama Raju- Rs.32.100 Millions, DRSP Raju - Rs.18.400 Millions, KVK Raju -Rs.1.000 Millions, Subhadramma - Rs.27.500 Millions. Personal Guarantee for SBI: D. Rama Raju, DRSP Raju, KVK Raju -, Subhadramma and DV Rama Raju. |
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|
Date of instrument modifying the charge |
15.12.2009 |
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|
Particulars of the present modification |
Enhanced Rs. (In Millions)
|
FIXED ASSETS:
· Land and Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
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 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 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.54.33 |
|
|
1 |
Rs.82.72 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.