|
Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
LAVINO KAPUR COTTONS PRIVATE LIMITED |
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|
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Formerly Known
As : |
AJAY COTTON HLRACHERS PRIVATE LIMITED |
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Registered
Office : |
121-122, Mittal Chambers, Nariman Point, Mumbai-400021, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.01.1974 |
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Com. Reg. No.: |
11-017112 |
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Capital
Investment / Paid-up Capital : |
Rs.60.202
Millions |
|
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|
|
CIN No.: [Company Identification
No.] |
U24100MH1974PTC017112 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML05147C MUML04659E |
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PAN No.: [Permanent Account No.] |
AAACL0824C |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturers, Exporters and Importers of Cottons. |
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No. of Employees
: |
200 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1300000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established
company having a moderate track record. Contacted person has provided general information and denied to disclose
any financial information. Latest financial are not available with us. As per data available of
2011, sales and profit of the company has increase over previous year. Trade relations are fair. Business is active. Payment terms are
unknown. The company can be considered for business dealing with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Not Divulged |
|
Designation : |
Office Executive |
|
Contact No.: |
91-22-66325141 |
|
Date : |
09.08.2013 |
LOCATIONS
|
Registered Office : |
121-122, Mittal Chambers, Nariman Point, Mumbai-400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22325141 (11 Lines) / 66325141 |
|
Fax No.: |
91-22-22324979 / 22324421 / 66324979 |
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E-Mail : |
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Website : |
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Location: |
Owned |
|
|
|
|
Factory: |
H-1 MIDC, Tarapur Industrial Area, Taps Post, Boisar-401504, District
Thane, Maharashtra |
|
Tel. No.: |
91-2525-272290/91/92 |
|
Fax No.: |
91-2525-273325 |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Kahanchand Jaikishan Narang |
|
Designation : |
Director |
|
Address : |
9, |
|
Date of Birth/Age : |
04.09.1930 |
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Date of Appointment : |
28.09.1990 |
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Din No.: |
00041615 |
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|
|
|
Name : |
Mr. Vikram Inderjit Kapur |
|
Designation : |
Whole Time Director |
|
Address : |
11, Matruchaya, 70, |
|
Date of Birth/Age : |
24.03.1958 |
|
Date of Appointment : |
01.07.2003 |
|
Din No.: |
00171317 |
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|
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|
Name : |
Mr. Ajay Inderjit Kapur |
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Designation : |
Director |
|
Address : |
Flat A-3, Kapur Mahal, 121, |
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Date of Birth/Age : |
25.12.1962 |
|
Date of Appointment : |
01.07.2003 |
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Din No.: |
00171362 |
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|
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|
Name : |
Mittoor Seshachalam Subramanian |
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Designation : |
Whole Time Director |
|
Address : |
504, Sankalp Enclave, Shanti Nagar, Visakhapatnam – 530016, Andhra
Pradesh, India |
|
Date of Birth/Age : |
01.06.1954 |
|
Date of Appointment : |
06.11.2008 |
|
Din No.: |
00106319 |
KEY EXECUTIVES
|
Name : |
Mr. Alangudi K Laxminarayan |
|
Designation : |
Company Secretary |
|
Address : |
5, Kailash, 83, Pestom Sagar, Mumbai- 400089, |
|
Date of Birth/Age : |
29.05.1935 |
|
Date of Appointment : |
01.10.2001 |
|
Pan No.: |
AARPL0060E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pratibha Kapur |
|
3504736 |
|
Ajay Kapur |
|
721704 |
|
Vikram Kapur |
|
541634 |
|
Vivek Kapur |
|
8000 |
|
Radha Raman Kapur |
|
40000 |
|
Rajan Kapur |
|
25200 |
|
Nirmal Khanna |
|
70400 |
|
Anil Trehan and Rahul Trehan |
|
25200 |
|
Kahanchand Narang |
|
6400 |
|
Atul Kapur |
|
4000 |
|
Usha Khanna |
|
28000 |
|
Renuka Narang |
|
198408 |
|
Kiran Deepak Nagpal |
|
200000 |
|
Anjali Manoj Chadha |
|
192000 |
|
Inderjit Kapur HUF |
|
8 |
|
Shivkumar Kapur |
|
8000 |
|
Pramilla Khanna |
|
20600 |
|
Surendranath Kapur and Atul Kumar Kapur |
|
16000 |
|
Surendranath Kapur and Sheetal Khanna |
|
20000 |
|
Chetan Kapur |
|
90035 |
|
Dhruv Kapur |
|
90035 |
|
Suman Chandok |
|
64000 |
|
Madhu Grover |
|
64000 |
|
Shushil Kapur |
|
24600 |
|
Chand Suri |
|
12300 |
|
Kanchan Mehra |
|
12300 |
|
Sanjiv Khanna HUF |
|
32600 |
|
|
|
|
|
Total |
|
6020160 |
As on 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
92.00 |
|
Other
top fifty shareholders |
|
8.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Exporters and Importers of Cottons. |
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Products : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Absorbent Cotton Pharmacopoeial Grade |
MT |
9600 |
6600 |
2314 |
NOTE:
1. Licensed and installed capacity is on three shift basis
2. Installed capacity has been certified by the director (works)
GENERAL INFORMATION
|
Customers: |
End Users |
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No. of Employees : |
200 [Approximately] |
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Bankers : |
Standard Chartered Bank- 90, M G Road, Fort, Mumbai- 400001,
Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
P. C. Mehra and Company Chartered Accountants |
|
Address : |
716, Maker Chambers, Nariman Point, Mumbai- 400021, Maharashtra, India |
|
Pan No.: |
AABFP7194B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6100000 |
Equity Shares |
Rs.10/- each |
Rs.61.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6020160 |
Equity Shares |
Rs.10/- each |
Rs.60.202
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 |
60.202 |
60.202 |
60.202 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
281.712 |
256.852 |
296.471 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
341.914 |
317.054 |
356.673 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
246.522 |
248.395 |
333.650 |
|
|
2] Unsecured Loans |
203.717 |
216.234 |
224.584 |
|
|
TOTAL BORROWING |
450.239 |
464.629 |
558.234 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
792.153 |
781.683 |
914.907 |
|
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|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
464.740 |
511.300 |
599.118 |
|
|
Capital work-in-progress |
8.429 |
20.473 |
20.473 |
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|
|
|
|
|
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INVESTMENT |
0.170 |
0.170 |
0.170 |
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|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
174.282
|
143.248 |
154.561
|
|
|
Sundry Debtors |
105.861
|
56.417 |
101.969
|
|
|
Cash & Bank Balances |
34.353
|
42.734 |
29.575
|
|
|
Other Current Assets |
42.563
|
32.793 |
40.530
|
|
|
Loans & Advances |
21.816
|
27.049 |
21.780
|
|
Total
Current Assets |
378.875
|
302.241 |
348.415 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
33.706
|
25.212 |
24.815 |
|
|
Other Current Liabilities |
23.963
|
25.133 |
26.763
|
|
|
Provisions |
2.392
|
2.156 |
1.995
|
|
Total
Current Liabilities |
60.061
|
52.501 |
53.573
|
|
|
Net Current Assets |
318.814
|
249.740 |
294.842
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.304 |
|
|
|
|
|
|
|
|
TOTAL |
792.153 |
781.683 |
914.907 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
EXPORTS / SALES |
765.775 |
632.358 |
831.404 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
104.502 |
112.748 |
182.103 |
|
|
|
|
|
|
|
|
|
|
FINANCIAL
EXPENSES |
10.516 |
14.967 |
21.945 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
81.319 |
88.151 |
95.307 |
|
|
|
|
|
|
|
|
|
|
INCOME
AFTER INTEREST AND DEPRECIATION |
12.667 |
9.630 |
64.851 |
|
|
|
|
|
|
|
|
|
|
EXCHANGE
DIFFERENCE GAIN/LOSS |
12.175 |
(49.249) |
93.862 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
24.842 |
(39.619) |
(29.011) |
|
|
|
|
|
|
|
|
|
|
EXCESS/SHORT
PROVISION FOR TAXATION IN EARLIER YEARS |
0.018 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
INCOME TAX |
|
|
|
|
|
|
FRINGE BENEFIT
TAX |
0.000 |
0.000 |
0.750 |
|
|
|
WEALTH TAX |
0.000 |
0.000 |
0.031 |
|
|
|
|
|
|
|
|
|
|
TRANSFERRED FROM
REVALUATION RESERVE |
0.032 |
0.035 |
0.038 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
24.892 |
(39.584) |
(29.754) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
724.921 |
604.144 |
791.418 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Plant and Machinery [Raw Material, Chemicals, Stores, Spares] |
3.894 |
0.000 |
3.280 |
|
|
|
Packing Materials |
44.695 |
56.735 |
35.118 |
|
|
TOTAL IMPORTS |
48.589 |
56.735 |
38.398 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.13 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.24
|
(6.27) |
(3.49) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.94
|
(4.87) |
(3.06) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
(0.12) |
(0.08) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.32
|
1.47 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
6.31
|
5.75 |
6.50 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
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 |
No |
|
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 |
No |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Loans directors |
203.717 |
216.234 |
|
Total |
203.717 |
216.234 |
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10013451 |
06/02/2007 * |
69,750,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A03215795 |
|
2 |
90241734 |
19/01/2006 |
280,000,000.00 |
STANDARD CHARTERED BANK |
MUMBAI BRANCH 90 MG ROAD FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
3 |
90241454 |
05/05/2005 |
2,720,000.00 |
STANDARD CHARTERED BANK |
90 M G ROAD FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
- |
|
4 |
90164506 |
13/10/2010 * |
321,500,000.00 |
STANDARD CHARTERED BANK |
90, M G ROAD, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A96241468 |
|
5 |
90164323 |
25/01/2003 |
10,000,000.00 |
BANK OF BARODA |
OVERSEAS BRANCH, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
6 |
90163727 |
08/06/1998 |
15,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, FORESHORE BLDG; NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA |
- |
|
7 |
90163419 |
08/06/1998 * |
25,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH, FORESHORE BLDG; NARIMAN POINT, MUMBAI,
MAHARASHTRA - 400021, INDIA |
- |
|
8 |
90163132 |
24/03/1995 |
5,000,000.00 |
BANK OF BARODA |
OVERSEAS BUSINESS BRANCH, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
9 |
90162841 |
06/01/1994 |
3,500,000.00 |
BANK OF BARODA |
OVERSEAS BRANCH, MUMBAI, MAHARASHTRA - 400021, INDIA |
- |
|
10 |
90162738 |
28/04/1993 |
2,000,000.00 |
BANK OF BARODA |
OVERSEAS BRANCH, FORESHORE BLDG; NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021,
INDIA |
- |
BACKGROUND:
Subject was incorporated in 1974 under the Companies Act, 1956. The
company has its unit at Tarapur which is 100% Export Oriented Unit approved by Government
of India. The company has been recognized as Star Export House by Director
General of Foreign Trade.
OPERATIONS:
The company’s sales have increased to Rs.765.775 millions as compared to
Rs.632.358 millions in the previous year. Increase in price of raw materials
and consumable which could not be passed to the customers have impacted
operational results for the year. Cost of cotton started rising from November
2010 and saw a very sharp increase. Prices of cotton have now stabilized but
are still higher compared to prices in Y.E. 31.03.2010. Persistent effort with
customer have resulted in partial recovery of increased cost in the current
year. The year has ended with a net profit of Rs.24.892 millions.
CURRENT YEAR:
Sales for the first 3 months that is April to June 2011 are Rs.224.200
millions as compared to Rs.156.000 millions in the previous year. There are
improvements in customer order position and the board is cautiously optimistic
to be able to report better results for the year to 31st March 2012.
FINANCE:
The company has not accepted any deposits from the public. Deposits have
been accepted from shareholders and there were no unclaimed deposits
outstanding at year-end. Shareholders deposits outstanding at year end are
Rs.203.700 millions including interest free deposits of Rs.150.700 millions.
FIXED ASSETS:
·
·
Building
·
Plant And Machinery
·
Furniture And Fixtures
·
Factory Equipments
·
Office Equipments
·
Motor Car
·
Electric Installation
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.61.12 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.