MIRA
INFORM REPORT
|
Report Date : |
10.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRINCEWARE INTERNATIONAL PRIVATE LMITED (w.e.f. 09.07.2008) |
|
|
|
|
Formerly Known
As : |
PRINCE PLASTICS INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Omkar Esquare, 7th Floor, Opposite Sion - Chunabhatti
Signal, Eastern Express Highway, Sion (East), Mumbai-400022, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.11.1992 |
|
|
|
|
Com. Reg. No.: |
11-069561 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.18.450
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1992PTC069561 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP07023C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP3346H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Plastic Houseware. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in the profitability during 2012. However, general financial position seems to be good. Trade relations
are reported to be fair. Business is active. Payments are reported to be
usually correct 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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and
the US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan : (ICRA) BBB |
|
Rating Explanation |
Having moderate degree of safety regarding timely servicing of financial
obligation it carry moderate credit risk. |
|
Date |
October 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. Clifford Dmello |
|
Designation : |
Deputy Manager |
|
Contact No.: |
91-22-24082288 |
|
Date : |
09.08.2013 |
LOCATIONS
|
Registered Office/ Corporate Office : |
Omkar Esquare, 7th Floor, Opposite Sion - Chunabhatti Signal,
Eastern Express Highway, Sion (East), Mumbai-400022, Maharashtra, India |
|
Tel. No.: |
91-22-24082288/ 24084422 / 24017711 |
|
Fax No.: |
91-22-24072244 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2500 sq. ft. |
|
Location: |
Owned |
|
|
|
|
Factory : |
24/4, Kachigam Road, Village Ringanwada, Nani, Daman-396210, India |
|
Tel. No.: |
91-260-2242041 / 2242042 |
|
Fax No.: |
91-260-2242042 / 2241913 |
|
Location: |
Owned |
DIRECTORS
As on: 28.09.2012
|
Name : |
Mr. Rakesh Kishore Chheda |
|
Designation : |
Director |
|
Address : |
801/ 802, Omkar Co-Operative Housing Society, 511/B, Matunga Estate, R.P.
Masani Road, Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
17.03.1968 |
|
Date of Appointment : |
16.11.1992 |
|
DIN No.: |
00019209 |
|
PAN No.: |
AAAPC5779J |
|
|
|
|
Name : |
Mr. Vijay Dilbagh Rai |
|
Designation : |
Director |
|
Address : |
207. New Bake House, 12 MCC Lane, Fort, Mumbai – 400001, Maharashtra,
India |
|
Date of Birth/Age : |
13.10.1946 |
|
Date of Appointment : |
01.12.2003 |
|
DIN No.: |
00075837 |
|
PAN No.: |
AEVPR2852L |
|
|
|
|
Name : |
Ms. Neena R Chheda |
|
Designation : |
Director |
|
Address : |
801/ 802, Omkar Co-Operative Housing Society, 511/B, Matunga Estate,
R.P. Masani Road, Matunga, Mumbai-400019, Maharashtra, India |
|
Date of Birth/Age : |
08.06.1971 |
|
Date of Appointment : |
03.10.2011 |
|
DIN No.: |
03636735 |
|
PAN No.: |
AEZPC6766J |
KEY EXECUTIVES
|
Name : |
Mr. Clifford Dmello |
|
Designation : |
Deputy Manager |
MAJOR SHAREHOLDERS
As on: 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kishore Shamji Chheda |
|
23700 |
|
Rakesh Kishore Chheda |
|
665100 |
|
Rakesh Kishore Chheda HUF |
|
213300 |
|
Nina Rajkesh Chheda |
|
450300 |
|
Divyansh Rakesh Chheda |
|
213300 |
|
Dhvani Rakesh Chheda |
|
94800 |
|
Bhavesh Kishore Chheda |
|
184500 |
|
Total |
|
1845000 |
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, Exporter and Importer of Plastic Houseware. |
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|
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Products : |
· Food Storage Containers · Storage Containers · Bathroom Products · Refuse Bins and Baskets · Other Products · Furniture · Thermoware Products · Casserole Products
|
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|
|
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Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
USA |
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|
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Imports : |
|
||||
|
Products : |
Raw Materials |
||||
|
Countries : |
·
China ·
Saudi Arabia |
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|
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|
Terms : |
|
||||
|
Selling : |
L/C, Cash and Credit |
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|
||||
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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|
||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
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|
||||||||||||||||||
|
Bankers : |
· Bank of India, Mumbai MID Corporate Branch, Mezanine Floor, BOI Building, 70/80 Mahatma Gandhi Road, Fort, Mumbai – 400001, Maharashtra, India Tel. No.: 91-22-22611954 · Barclays Bank Plc, 801/808, Ceejay House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra, India · Export - Import Bank of India, Centre One Building, Floor 21, World Trade Centre Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · Standard Chartered Bank, Abhijeet II, Ground Floor, Near Mithakali Six Road, Ahmedabad - 380006, Gujarat, India · Citibank N. A., Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
||||||||||||||||||
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|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
L and D Joshi and Company Chartered Accountants |
|
Address : |
2-G, Court Chambers, 2nd Floor, 35, New Marine Lines,
Mumbai-400020, |
|
Tel. No.: |
91-22-22003058 |
|
Mobile No.: |
91-9322512023 |
|
Fax No.: |
91-22-22005568 |
|
E-Mail : |
|
|
PAN No.: |
AACFL7859G |
|
|
|
|
Relatives of Key
management personnel : |
· Arihant Investment |
|
|
|
|
Other related
Parties : |
· Ksons Plastics · Four Seasons Developers Private Limited |
|
|
|
|
Subsidiary company: |
· Princeware Africa (Kenya) Limited · Princeware Global Holdings Limited |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Prince Plastics India Private Limited · Prism Design and Tooling Technology Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1845000 |
Equity Shares |
Rs.10/- each |
Rs.18.450
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
18.450 |
23.700 |
|
(b) Reserves & Surplus |
|
547.904 |
542.532 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
566.354 |
566.232 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
329.417 |
368.431 |
|
(b) Deferred tax liabilities (Net) |
|
50.917 |
45.970 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
380.334 |
414.401 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
842.022 |
425.055 |
|
(b) Trade payables |
|
233.331 |
105.620 |
|
(c) Other current
liabilities |
|
18.935 |
9.661 |
|
(d) Short-term provisions |
|
60.933 |
35.701 |
|
Total Current Liabilities (4) |
|
1155.221 |
576.037 |
|
|
|
|
|
|
TOTAL |
|
2101.909 |
1556.670 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
643.577 |
601.043 |
|
(ii) Intangible Assets |
|
0.150 |
0.150 |
|
(iii) Capital
work-in-progress |
|
0.000 |
22.509 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
134.686 |
31.654 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
202.588 |
220.245 |
|
(e) Other Non-current assets |
|
16.741 |
35.930 |
|
Total Non-Current Assets |
|
997.742 |
911.531 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
315.822 |
246.509 |
|
(c) Trade receivables |
|
528.964 |
319.385 |
|
(d) Cash and cash equivalents |
|
197.072 |
16.885 |
|
(e) Short-term loans and
advances |
|
62.309 |
62.360 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total Current Assets |
|
1104.167 |
645.139 |
|
|
|
|
|
|
TOTAL |
|
2101.909 |
1556.670 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
23.700 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
436.918 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
460.618 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
328.238 |
|
|
2] Unsecured Loans |
|
|
251.960 |
|
|
TOTAL BORROWING |
|
|
580.198 |
|
|
DEFERRED TAX LIABILITIES |
|
|
40.402 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1081.218 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
616.098 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
31.839 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
171.841
|
|
|
Sundry Debtors |
|
|
280.109
|
|
|
Cash & Bank Balances |
|
|
13.856
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
101.345
|
|
Total
Current Assets |
|
|
567.151 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
112.177 |
|
|
Other Current Liabilities |
|
|
6.518
|
|
|
Provisions |
|
|
15.175
|
|
Total
Current Liabilities |
|
|
133.870 |
|
|
Net Current Assets |
|
|
433.281
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1081.218 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
2167.164 |
1619.097 |
1314.996 |
|
|
|
Other Income |
14.185 |
11.168 |
0.096 |
|
|
|
TOTAL (A) |
2181.349 |
1630.265 |
1315.092 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
1497.581 |
742.213 |
|
|
|
Trading Goods |
|
|
0.000 |
|
|
|
Employees’ Remuneration and Benefits |
|
|
63.876 |
|
|
|
Manufacturing and Other Expenses |
|
|
371.101 |
|
|
|
Increase/ Decrease in Stock of Finished Goods |
|
|
(19.998) |
|
|
|
TOTAL (B) |
2050.669 |
1497.581 |
1157.190 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Depreciation and Financial Expenses) |
(Including
Depreciation and Financial Expenses) |
157.902 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
43.062 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
114.840 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
65.032 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
130.680 |
132.684 |
49.808 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
31.447 |
22.568 |
16.652 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
99.233 |
110.116 |
33.156 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
178.972 |
98.015 |
94.018 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
|
25.000 |
25.000 |
|
|
|
Proposed
Final Dividend |
24.079 |
3.555 |
3.555 |
|
|
|
Tax on Proposed Dividend |
|
0.604 |
0.604 |
|
|
BALANCE CARRIED
TO THE B/S |
254.126 |
178.972 |
98.015 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Others |
NA |
NA |
208.819 |
|
|
TOTAL IMPORTS |
NA |
NA |
208.819 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
53.78 |
46.46 |
13.99 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
$ 145 Lacs |
|
|
|
|
|
The above information has been parted by Mr. Clifford Dmello.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.55
|
6.75 |
2.52
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.03
|
8.19 |
3.79
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.64
|
8.83 |
4.21
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.23 |
0.11
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.07
|
1.40 |
1.26
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96
|
1.12 |
4.24
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT
MATURITIES OF LONG-TERM DEBT
(Rs.
in Millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current
maturities of long-term debt |
0.000
|
0.000 |
NA
|
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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) |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from 51, Marol Co-Operative Industrial Estate, M.V. Roads, Andheri
(East), Mumbai, Maharashtra, India to present address w.e.f. 16.03.2009
YEAR IN RETROSPECT:
During the year the turnover of the company has jumped from Rs. 1619.097 Millions to Rs. 2167.164 Millions mainly due to penetration in Local Business. Also during the year, the Company has ventured into new business of trading in Luggage. Operational results of the company have marginally reduced from Rs. 132.684 Millions to Rs. 130.680 Millions on account of loss in Foreign Exchange transactions. Correspondingly, the Net results were subdued from Rs.110.116 Millions to Rs.99.233 Millions and hence were not as expected.
BUSINESS:
They are pleased to inform you that the company has successfully ventured into trading of luggage and are planning to open its own retail stores so as to be able to reach the customer directly. Company is also under process of expanding the capacity during the year.
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10439261 |
11/07/2013 |
30,000,000.00 |
EXPORT - IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
B80527732 |
|
2 |
10374105 |
25/07/2012 |
20,000,000.00 |
BANK OF INDIA |
MUMBAI MID CORPORATE BRANCH, BANK OF INDIA BUILDING MEZZANINE FLOOR, 70-80 MAHATMA GANDHI ROAD, FORT, MUMBAI, Maharashtra - 400001, INDIA |
B57096646 |
|
3 |
10343950 |
27/03/2012 |
90,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B35723394 |
|
4 |
10343356 |
07/05/2012 * |
349,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, Gujarat - 390015, INDIA |
B39320684 |
|
5 |
10352459 |
09/03/2012 |
110,000,000.00 |
INDUSIND BANK LTD. |
INDUSIND HOUSE.425,, DADASAHEB BHADKAMKAR MARG, OPERA HOUSE, MUMBAI, Maharashtra - 400004, INDIA |
B38488250 |
|
6 |
10307090 |
12/03/2013 * |
50,000,000.00 |
Standard Chartered Bank |
Abhijeet II, Ground Floor, Near Mithakali Six Road, |
B72494727 |
|
7 |
10286989 |
11/07/2012 * |
290,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA
COMPLEX, BANDRA (E), MUMBAI, Maharashtra |
B55911671 |
|
8 |
10245613 |
02/02/2011 * |
88,800,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE |
B05408646 |
|
9 |
10169621 |
17/12/2009 * |
82,500,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR NO.21, WTC COMPLEX, CUFFE PARADE, MUMBAI, Maharashtra - 400005, INDIA |
A75345470 |
|
10 |
10106030 |
17/09/2010 * |
150,000,000.00 |
Barclays Bank Plc |
601/603, Ceejay House, Shivsagar Estate, Dr. Annie Besant Road, Worli, Mumbai, Maharashtra – 400018, INDIA |
A94501046 |
* Date of charge modification
FIXED ASSETS:
· Goodwill
· Land
· Building
· Flat
· Plant and Machinery
· Moulds
· Vehicles
· Furniture and Fixtures
· Office 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.61.12 |
|
|
1 |
Rs.94.77 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.