MIRA
INFORM REPORT
|
Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
ORIENTAL AEROMATICS LIMITED |
|
|
|
|
Registered
Office : |
Jehangir Building, 133, Mahatma Gandhi Road, Fort, Mumbai-400001,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
14.03.1973 |
|
|
|
|
Com. Reg. No.: |
11-016382 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
u24240MH1973PLC016382 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMO02787B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAF00349L |
|
|
|
|
Legal Form : |
A Closely held Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Industrial Fragrances and
Flavours. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 4300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. There appears
some dip in the profitability of the company during current year however, net
worth appears to be strong. Financial position of the company is good. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
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. Jairam |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-66556000 |
|
Date : |
09.04.2013 |
LOCATIONS
|
Registered Office : |
Jehangir Building, 133, Mahatma Gandhi Road, Fort, Mumbai-400001,
Maharashtra, India |
|
Tel. No.: |
91-22-66556000 |
|
Fax No.: |
91-22-66556099 |
|
E-Mail : |
|
|
Website : |
http://orientalaromatics.com |
|
|
|
|
Factory 1 : |
Plot No. 48 and 50, GDDIC Industrial Estate, Somnath, Dabhel, Daman –
396 210, |
|
Tel. No.: |
91-260-2241195 / 2244965 |
|
Fax No.: |
91-260-2244669 |
|
E-Mail : |
sales@orientalaromatics.com |
|
Location : |
Leased |
|
|
|
|
EOU Unit : |
Located at Baikampady,
Mangalore |
|
|
|
|
Branches : |
Located at ·
· Chennai ·
· Kolkata ·
· Ahmedabad ·
·
|
|
|
|
|
Overseas Office
: |
·
Tel. No.: (973) 227-0400/
(888) 611-2727 Fax No.: (973) 227-9940 E-Mail : sales@orientalaromatics.com ·
P. T. Djasula Wangi, JI Garuda 99, Tel. 00-62-21-4244173/4204229 E-mail. djsula@cbn.net.id Contact Person – Mr. Soesanto
·
Texchem Limited, Tel. 00-254-4440890/4440891 Fax. 00-254-2-4447140 E-mail. info@tex-chem.com Website. http://www.tex-chem.com Contact Person – Dr. G. C. Hess / Mr. Anant Whavale
·
Metmin Services, SA DE CV. Homero 109-1202,
Col. Polanco, Tel. 00-525-55-2502888 Fax. 00-525-55-2507888 Contact Person – Mr. Jaime Israel
· Paramount Trading and Industries (Nigeria) Limited, 22, Chief Nwobudoze, Street A, Jao Estate, Apakum, Oshodi, Lagos, Nigeria Tel. 00-234-4522017/4522551 Fax. 00-234-2005728 E-mail. paramount@hyperia.com Contact Person – Mr. Laxman Tulsiani / Mr. Amit Tulsiani
· Delta Technologies, No. 50, 1st Lane, Kandy Road, Wedamulla, Kelaniya, Sri Lanka Tel. 00-94-1-905275/905276 Fax. 00-94-074812186/907868/905706 E-mail. delta@igo.lk Contact Person – Mr. Royestan Abhayawardhana / Mr. Mohan
· Univa Aromatics Pte. Limited, 89, Kaki Bukit Industrial Terrace, Singapore – 416 169 Tel. 00-65-67495210/3155 Fax. 00-65-67421609 E-mail. univa@singnet.com.sg Contact Person – Ms. Mary / Ms. Roselind
·
Tel. 00-84-8-8243057/8275422 Fax. 00-84-8-8228075/8227460 E-mail. 1. canopus@hcm.vnn.vn Contact Person –
Mr. Ramesh Anand / Mr. Sasidaran |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Anil Keshavlal Bodani |
|
Designation : |
Managing Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Birth/Age : |
24.08.1940 |
|
Date of Appointment : |
14.03.1973 |
|
DIN No : |
00617909 |
|
|
|
|
Name : |
Mr. Shyamlal Anil Bodani |
|
Designation : |
Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Birth/Age : |
22.01.1980 |
|
Date of Appointment : |
01.04.2004 |
|
DIN No : |
00617950 |
|
|
|
|
Name : |
Ms Chandrika Anil Bodani |
|
Designation : |
Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Birth/Age : |
26.09.1942 |
|
Date of Appointment : |
01.07.1997 |
|
DIN No : |
00618298 |
|
|
|
|
Name : |
Mr. Ashwin Jayantkumar Ahya |
|
Designation : |
Director |
|
Address : |
F 44 Maitri park, |
|
Date of Birth/Age : |
05.11.1949 |
|
Date of Appointment : |
06.12.1997 |
|
DIN No : |
00618321 |
|
|
|
|
Name : |
Mr. Dharmil Anil Bodani |
|
Designation : |
Director |
|
Address : |
51 Elcid 5th Floor, |
|
Date of Appointment : |
01.10.1996 |
|
DIN No : |
00618333 |
KEY EXECUTIVES
|
Name : |
Mr. Jairam |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Anil Bodani |
|
110 |
|
Anil Bodani Jt. Chandrika Anil Bodani |
|
1199890 |
|
Chandrika Anil Bodani Jt. Anil Bodani |
|
1200000 |
|
Dharmil Bodani |
|
89750 |
|
Shyamlal Anil Bodani |
|
89950 |
|
Dharmil Bodani Jt. Anil Bodani |
|
710050 |
|
Shyamlal Anil Bodani Jt. Anil Bodani |
|
710050 |
|
Yuvraj Bodani Jt. Dharmil Bodani |
|
100 |
|
Veer Bodani Jt. Dharmil Bodani |
|
100 |
|
Total |
|
4000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 28.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Industrial Fragrances and
Flavours. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||
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|
|||||||||||||||
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
· HSBC Bank, 52/60, MG Road, Mumbai – 400001, Maharashtra, India Tel No.: 91-22-40422424 · Yes Bank Limited, 9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,, Mumbai - 400018, Maharashtra, India Tel. No.: 91-22-66699000 · Standard Chartered Bank, 90, M G Road, Fort, Mumbai - 400001, Maharashtra, India |
|||||||||||||||
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|
|
|||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N V Varma and Associates Chartered Accountants |
|
Address : |
56 B, Mittal Tower, 210, Nariman point,
Mumbai – 400001, Maharashtra, India |
|
PAN No.: |
AAAFN0680P |
|
|
|
|
Subsidiaries : |
·
Oriental Aromatics INC ·
Camphor and Allied Products Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
|
|
|
|
|
Reconciliation of
numbers of equity shares & Share Capital
(Rs. in Millions)
|
Particulars |
As at 31-03-2012 |
|
|
No. of Shares |
Rupees |
|
|
Shares outstanding a! the beginning of the year |
4,000.000 |
4.525 |
|
Shares Issued/Bought back during the year |
- |
- |
|
Shares outstanding at the end at the year |
4,000,000 |
4.525 |
Details of Equity
shareholders holding more than 5% Equity shares as at the end of Ihe year
|
Particulars |
As at 31.03.2012 |
|
|
No. of Shares held |
% of Holding |
|
|
Anil K Bodani |
1.200.000 |
30 |
|
Chandrikaa Bodani |
1,200.000 |
30 |
|
Dharmil A. Bodani |
799,800 |
20 |
|
Shyamal A Bodani |
800,000 |
20 |
Terms and Rights
attached to equity shares
(i) The Company has only one class of equity shares having a par value of Rs. 10 each holder of equity shares is entitled to one vote per share The Company declares and pay dividend in Indian rupees The dividend proposed by the Board of Directors is subject to approval of the Shareholders m the ensuing Annual General Meeting.
(ii) In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferential amount in proportion to the shareholding However, no such preferential amount exist currently
(iii) There are no Bonus shares issued, shares issued for consideration other than cash and shares bought back during the period of five years immediately preceding the reporting date.
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 |
40.000 |
40.000 |
40.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1038.934 |
1015.656 |
972.806 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1078.934 |
1055.656 |
1012.806 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.762 |
40.638 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
63.762 |
40.638 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.075 |
0.330 |
0.621 |
|
|
|
|
|
|
|
|
TOTAL |
1142.771 |
1096.624 |
1013.427 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
85.780 |
47.605 |
43.684 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
461.747 |
461.747 |
634.687 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
256.504
|
317.713 |
221.576
|
|
|
Sundry Debtors |
141.332
|
89.247 |
83.412
|
|
|
Cash & Bank Balances |
14.079
|
8.667 |
41.311
|
|
|
Other Current Assets |
0.506
|
0.472 |
0.360
|
|
|
Loans & Advances |
223.675
|
244.583 |
56.254
|
|
Total
Current Assets |
636.096
|
660.682 |
402.913 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.715
|
71.408 |
63.489
|
|
|
Other Current Liabilities |
1.137
|
2.002 |
1.969
|
|
|
Provisions |
0.000
|
0.000 |
2.399
|
|
Total
Current Liabilities |
40.852
|
73.410 |
67.857 |
|
|
Net Current Assets |
595.244
|
587.272 |
335.056
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1142.771 |
1096.624 |
1013.427 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
751.374 |
660.014 |
619.972 |
|
|
|
Dividend On Shares |
0.000 |
0.000 |
4.440 |
|
|
|
Dividend on Mutual Fund Units |
0.000 |
0.000 |
0.136 |
|
|
|
Other Income |
8.432 |
6.842 |
2.967 |
|
|
|
Gain on Sale of Derivatives |
0.000 |
0.000 |
0.053 |
|
|
|
TOTAL (A) |
759.806 |
666.856 |
627.568 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
563.143 |
524.542 |
|
|
|
|
Purchase of Traded Goods |
33.137 |
0.000 |
|
|
|
|
Manufacturing and operating costs |
30.949 |
27.549 |
|
|
|
|
Changes in inventories of flashed goods and Work-in-Progress |
14.306 |
-7.623 |
|
|
|
|
Employee Benefit expense |
34.113 |
27.828 |
|
|
|
|
Other expenses |
34.120 |
25.865 |
|
|
|
|
TOTAL (B) |
709.768 |
598.161 |
529.826 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
50.038 |
68.695 |
97.742 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES (D) |
2.686 |
2.117 |
0.374 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
47.352 |
66.578 |
97.368 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
7.843 |
7.002 |
6.235 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
39.509 |
59.576 |
91.133 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
11.831 |
12.326 |
25.324 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
27.678 |
47.250 |
65.089 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
958.392 |
916.842 |
880.274 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
6.600 |
|
|
|
Dividend |
0.000 |
0.000 |
20.000 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
2.644 |
|
|
BALANCE CARRIED
TO THE B/S |
986.070 |
964.092 |
916.839 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
110.282 |
79.548 |
58.083 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
206.529 |
|
|
TOTAL IMPORTS |
NA |
NA |
206.529 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.92 |
11.81 |
16.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.64
|
7.08 |
10.37
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.26
|
9.03 |
14.70
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.47
|
8.41 |
20.41
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.06 |
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.06
|
0.04 |
0.00
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
15.57
|
8.99 |
5.94
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS:
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Due to Micro, Small & Medium Enterprises Others (Including outstanding expenses) |
39.715
|
71.408 |
63.489 |
|
Total |
39.715
|
71.408 |
63.489 |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS: -
The overall performance of the Company has improved during the year in respect of turnover, net profit as compared to previous year. The sales turnover has also shown a remarkable progress as it increased from Rs. 666.856 Millions to Rs. 759.806 Millions.
During the year In view of recessionary trends continuing in the domestic market and economic stagnation and coupled with other adverse factors; the operating performance of the company is marginally improved as compared to the previous year. However, the Directors are hopeful of revival in economic trends and better performance of Company in current year.
The 100% EOU Mangalore unit of Company is running smoothly and export of products was also satisfactory.
In spite of the fluctuation of market Conditions and economic scenario of Country, the company had maintained satisfactory profitability during the year. With the above financial measures and contribution from manufacturing activity, the Company achieved Rs.27.678 Millions net profit after tax. Production of Daman Unit is also satisfactory during the current year.
BANKERS CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U24240MH1973PLC016382 |
|
Name of the
company |
ORIENTAL
AROMATICS LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Jehangir Building,133, Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
Yes Bank Limited,
9th Floor, Nehru Centre, Discovery Of India, Dr. Annie Besant Road, Worli,
Mumbai – 400018, Maharashtra, India |
|
Nature of
instrument creating charge |
Deed of
hypothecation dated 25.01.2012 |
|
Date of
instrument Creating the charge |
25.01.2012 |
|
Amount secured by
the charge |
Rs.101.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest LC/BG/LuT for BC: 0.75 % p.a. PCFC/PSCFC/WCDL: To be decided at the time of transaction CC: YBL Base rate plus 2.25%p.a. Terms of Repayment As agreed by and
with the Bank from time to time Margin As applicable, if
any Extent and Operation of the charge 1st Pari Passu
charge on all present and future current assets and other movable assets of the
company. More particularly described in schedule of deed of hypothecation |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
stock of Raw material, semi finished and finished goods, stores and spares,
bill receivables and book debts and all other receivables and moveables both
present and future including moveable fixed assets of Company. more
particularly described in scheduled annexed to deed of hypothecation executed
on 25th January, 2012 More particularly described in schedule of deed of
hypothecation |
FIXED ASSETS:
· Building at Malanpur
· Building at Mumbai
· Plant & Machinery
· Technical know how
· Motor Cars
· Office Equipments
· Furniture & Fixtures
· Borewell
· Computers
· Books
· Dies and Moulds
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.54.44 |
|
|
1 |
Rs.83.78 |
|
Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.