MIRA INFORM REPORT
|
Report Date : |
14.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
PRATIBHA SYNTEX LIMITED |
|
|
|
|
Registered
Office : |
301, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss A/c) |
|
|
|
|
Date of
Incorporation : |
08.10.1982 |
|
|
|
|
Com. Reg. No.: |
11-118017 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.582.199
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111MH1982PLC118017 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP4207C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of Organic Cotton Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 9159000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The latest balance sheet of 2012 is not available with us. There appears deterioration in the financial risk profile and
liquidity position of the subject due to the heavy loss incurred during FY
2012 on account of unfavourable industry scenario. Management has appointed its lenders for restructuring of its debt
obligations under corporate debt restructuring. However, trade relations are fair. Business is active. Payment terms
are slow but correct. In view of long lasting experience of the promoters, 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
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 |
CARE |
|
Rating |
Long Term Bank Facilities: B |
|
Rating Explanation |
High risk of default. |
|
Date |
October 08, 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
October 08, 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 : |
301, |
|
Tel. No.: |
91-22-28361464 / 28314850 / 28314853 / 66921428/ 28314850 |
|
Fax No.: |
91-22-28361464 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.4, Industrial Growth Centre Kheda, Pitampur, District Dhar - 454 774, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-404362-64 / 404363 / 404357/ 413231 |
|
Fax No.: |
91-7292-256340-1 |
|
E-Mail : |
|
|
Area : |
70 acres approx |
|
Location : |
Leased |
|
|
|
|
Factory 2 (SEZ Works) : |
A-15 and 16, Apparel Park, Indore Special Economic Zone, Mhow-Neemuch
Road, Pithampur, District Dhar, Madhya Pradesh, India |
|
|
|
|
Factory 3 (NCR Works)/ Office : |
Plot No.16, DLF Industrial Area, Phase II, Near NHPC Chowk, Faridabad – 121 003, Haryana, India |
|
Tel. No.: |
91-129-4105728/ 4107318 |
|
Fax No.: |
91-129-4107318 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
D-10/3, Okhla Industrial Area, Phase-I, |
|
Tel. No.: |
91-11-41616465, 26816790, 32449714 |
|
Fax No.: |
91-11-41616480 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Branch Office: |
Indore Office 301, Apollo Avenue, 30-B, Old Palasia, Indore – 452 001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-2562228-29/ 4065454/ 2560584 |
|
Fax No.: |
91-731-2562227 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 25.06.2013
|
Name : |
Mr. Shiv Kumar Chaudhary |
|
Designation : |
Whole Time Director |
|
Address: |
80-A, Manishpuri, Indore - 452 018, Madhya
Pradesh, India |
|
Date of Birth/ Age : |
28.08.1962 |
|
Qualification : |
B. Com |
|
Date of Appointment: |
11.08.1992 |
|
DIN No.: |
00071955 |
|
|
|
|
Name : |
Mr. Shreyaskar Chaudhary |
|
Designation : |
Managing Director |
|
Address: |
80-A, Manishpuri, Indore - 452 018, Madhya
Pradesh, India |
|
Date of Birth/ Age : |
05.04.1976 |
|
Qualification : |
B. SC (HONS) UMIST (UK) |
|
Date of Appointment: |
26.02.2003 |
|
DIN No.: |
00059059 |
|
PAN No.: |
ACQPC6860Q |
|
|
|
|
Name : |
Mr. Snehakar Nirmalesh Bansal |
|
Designation : |
Whole Time Director |
|
Address: |
58, Classic Purnima Raw House, Main
Khajrana Road, Indore - 452 018, Madhya Pradesh, India |
|
Date of Birth/ Age : |
06.10.1949 |
|
Qualification : |
B.Com |
|
Date of Appointment: |
27.01.2004 |
|
DIN No.: |
00058660 |
|
|
|
|
Name : |
Mr. Vinod Kumar Jain |
|
Designation : |
Whole Time Director |
|
Address: |
Sujata Sarees, Hazoori Bazar, Faridkot – 151 203, |
|
Date of Birth/ Age : |
10.10.1949 |
|
Date of Appointment: |
29.12.2009 |
|
DIN No.: |
02944575 |
|
|
|
|
Name : |
Mr. Krishna Kant Gangwar |
|
Designation : |
Additional Director |
|
Address: |
402, Shekhar Avenue, 15, Sanghi Colony,
Indore – 452 018, Madhya Pradesh, India |
|
Date of Birth/ Age : |
27.07.1974 |
|
Date of Appointment: |
28.05.2012 |
|
DIN No.: |
05305709 |
|
|
|
|
Name : |
Mr. Ram Kishan Sharma |
|
Designation : |
Director |
|
Address: |
306, Suryalok Apartment, Near |
|
Date of Birth/ Age : |
07.07.1941 |
|
Qualification : |
M.Com/ M.B.A. |
|
Date of Appointment: |
10.06.1996 |
|
DIN No.: |
00084971 |
|
|
|
|
Name : |
Mr. Asit Kumar Basu |
|
Designation : |
Additional Director |
|
Address: |
Plot No.61, Row House, Sector – 8, Kopar Khairane, Navi Mumbai – 400
709, |
|
Date of Birth/ Age : |
24.08.1949 |
|
Qualification : |
M.E. (Mech.) |
|
Date of Appointment: |
16.07.2010 |
|
DIN No.: |
01382260 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Biswas |
|
Designation : |
Nominee Director |
|
Address: |
Flat No.301, Le Monde Exim Building, Doongersey
Road, Walkeshwar, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/ Age : |
09.10.1960 |
|
Date of Appointment: |
01.06.2011 |
|
DIN No.: |
03568647 |
|
|
|
|
Name : |
Mr. Ashutosh Mohan Lal Singla |
|
Designation : |
Nominee Director |
|
Address: |
Flat No.A-105, 1st Floor, Elite
Anmol Complex, Mangal Nagar, Bicholi Hapsi Road, Indore – 452 001, Madhya
Pradesh, India |
|
Date of Birth/ Age : |
11.03.1975 |
|
Date of Appointment: |
05.07.2013 |
|
DIN No.: |
06646775 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra Kumar Joshi |
|
Designation : |
Secretary |
|
Address : |
302, Rakhee, E-Wing, Vasant Utsav, Thakur Village, Kandivali (East),
Mumbai - 400 101, Maharashtra, India |
|
Date of Birth/Age : |
05.09.1962 |
|
Date of Appointment : |
01.12.1994 |
|
PAN No.: |
ABXPJ0038P |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.06.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Shiv Kumar Chaudhary |
|
1892067 |
|
Shreyaskar
Chaudhary |
|
1874529 |
|
S.K. Chaudhary and Sons (HUF) |
|
615282 |
|
Sushma Chaudhary |
|
4058237 |
|
Prerna Chaudhary |
|
4202748 |
|
BRCM Holdings Private Limited, India |
|
7501252 |
|
Darkin Commodeal Private Limited, |
|
3373627 |
|
Total
|
|
23517742 |
AS ON 25.06.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
53.76 |
|
Directors
or relatives of directors |
|
46.24 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Organic Cotton Products. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Ring Spinning (Cotton) |
Spindles |
62656 |
57936 |
|
Open End Spinning (Cotton) |
Rotors |
3152 |
2952 |
|
Air Jet Spinning (Cotton/ Synthetics) |
Positions |
2160 |
2072 |
|
Knitted Fabric (Grey) |
MT/ Annum |
13420 |
12045 |
|
Knitted Fabric (Dyed) |
MT/ Annum |
14200 |
11680 |
|
Knitted Garment |
Lacs Pcs/ Annum |
741.82 |
571.20 |
|
Particulars |
Unit |
Actual
Production |
|
Yarn |
Kg |
29821.33 |
|
Knitted Fabric (Grey) |
Kg |
5657.30 |
|
Knitted Fabric (Dyed) |
Kg |
5319.39 |
|
Knitted garment |
Pcs 000 |
27203.60 |
|
Cotton/ Other Waste |
Kg |
10439.92 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Kanji R. Agrawal and Company Chartered Accountants |
|
Address : |
104, Anmol Sagar Darshan, 9/1, New Palasia, Main Road, Indore – 452 001, Madhya Pradesh, India |
|
PAN No.: |
ADKPA7481J |
|
|
|
|
Subsidiary Company (As on 31.03.2011) : |
Pratibha International (Pty) South Africa |
|
|
|
|
Associate
Company (As on 31.03.2011) : |
Konkan Roadways
Private Limited, India (CIN No.: U63011WB1995PTC070921) |
CAPITAL STRUCTURE
AS ON 25.06.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25510000 |
Equity Shares |
Rs.10/- each |
Rs.255.100
Millions |
|
7300000 |
Preference Shares |
Rs.113/- each |
Rs.824.900
Millions |
|
|
Total
|
|
Rs.1080.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
23517742 |
Equity Shares |
Rs.10/- each
|
Rs.235.177
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25510000 |
Equity Shares |
Rs.10/- each |
Rs.255.100
Millions |
|
7300000 |
Participatory Cumulative Convertible Preference Shares |
Rs.113/- each |
Rs.824.900
Millions |
|
|
Total
|
|
Rs.1080.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
17018611 |
Equity Shares |
Rs.10/- each
|
Rs.170.186
Millions |
|
3646131 |
Participatory Cumulative Convertible Preference Shares |
Rs.113/-
each |
Rs.412.013
Millions |
|
|
Total
|
|
Rs.582.199 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
582.199 |
994.212 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1707.591 |
1507.650 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
2289.790 |
2501.862 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
5600.535 |
4557.573 |
|
|
2] Unsecured Loans |
|
510.440 |
356.752 |
|
|
TOTAL BORROWING |
|
6110.975 |
4914.325 |
|
|
DEFERRED TAX LIABILITIES |
|
198.931 |
180.542 |
|
|
|
|
|
|
|
|
TOTAL |
|
8599.696 |
7596.729 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
5250.473 |
5145.214 |
|
|
Capital work-in-progress |
|
0.000 |
44.194 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
16.549 |
16.549 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2573.996
|
1745.548
|
|
|
Sundry Debtors |
|
721.804
|
495.474
|
|
|
Cash & Bank Balances |
|
136.987
|
155.026
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans & Advances |
|
542.411
|
621.262
|
|
Total
Current Assets |
|
3975.198
|
3017.310 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
419.865 |
390.266
|
|
|
Other Current Liabilities |
|
205.046
|
202.768
|
|
|
Provisions |
|
17.613
|
33.504
|
|
Total
Current Liabilities |
|
642.524
|
626.538 |
|
|
Net Current Assets |
|
3332.674
|
2390.772
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
8599.696 |
7596.729 |
|
Note: Balance Sheet for the year 2012 is not available only Profit & Loss
A/c is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
8380.802 |
7883.896 |
5557.735 |
|
|
|
Other Income |
16.377 |
13.221 |
20.455 |
|
|
|
TOTAL (A) |
8397.179 |
7897.117 |
5578.190 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
5255.519 |
4607.990 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
104.095 |
(288.784) |
|
|
|
|
Employee benefit expense |
884.595 |
822.933 |
|
|
|
|
Other expenses |
1860.454 |
1574.486 |
|
|
|
|
TOTAL (B) |
8104.663 |
6716.625 |
4627.415 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
292.516 |
1180.492 |
950.775 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
816.147 |
549.530 |
395.178 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(523.631) |
630.962 |
555.597 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
381.593 |
357.685 |
332.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
(905.224) |
273.277 |
222.654 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
30.183 |
72.854 |
61.767 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(935.407) |
200.423 |
160.887 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1345.783 |
1145.360 |
984.473 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1345.783 |
1145.360 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Goods Exported |
NA |
NA |
3182.203 |
|
|
TOTAL EARNINGS |
NA |
NA |
3182.203 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
12.547 |
|
|
|
Stores & Spares |
NA |
NA |
108.147 |
|
|
|
Capital Goods |
NA |
NA |
73.088 |
|
|
TOTAL IMPORTS |
NA |
NA |
193.782 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
8.57 |
6.62 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(11.14)
|
2.54 |
2.88
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.80)
|
3.47 |
4.01
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.96 |
2.73
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.12 |
0.09
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA
|
2.67 |
1.96
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA
|
6.19 |
4.82
|
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
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 |
Yes |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
Yes |
|
Unsecured Loans |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Rupee term loans banks |
510.440 |
349.752 |
|
Rupee term loans financial institutions |
0.000 |
7.000 |
|
Total
|
510.440 |
356.752 |
COMPOSITION OF THE BUSINESS SEGMENT:
a. Spinning
Division Known as Ring Spinning (Cotton yarn and Melange yarn), Open End Spg.
and Airjet Spinning Operations locate at Pithampur
b. Knits Division
Known as Finish Fabric and Apparel activities located at Pithampur (M.P.) and
Apparel facilities at Faridabad (NCR-Delhi region).
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10406133 |
05/04/2013 * |
8,483,000,000.00 |
SBICAP TRUSTEE
COMPANY LIMITED |
202, MAKER
TOWER- E, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
B74220658 |
|
2 |
10319862 |
05/10/2011 |
320,000,000.00 |
BANK OF BARODA |
SIYAGANJ BRANCH,
15/16, JAWAHAR MARG, INDORE, MADHYA PRADESH - 452007, INDIA |
B26153205 |
|
3 |
10290995 |
12/05/2011 |
240,000,000.00 |
BANK OF BARODA |
SIYAGANJ BRANCH,
15/16, JAWAHAE MARG. IDA BUILDING, INDORE, MADHYA PRADESH - 452007, INDIA |
B14535397 |
|
4 |
10279503 |
11/03/2011 |
200,000,000.00 |
CENTRAL BANK OF
INDIA |
MID CORPORATE BRANCH,
SIYAGANJ, INDORE, MADHYA PRADESH - 452007, INDIA |
B10370781 |
|
5 |
10273020 |
16/03/2012 * |
292,000,000.00 |
CENTRAL BANK OF
INDIA |
MID CORPORATE
BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452007, INDIA |
B36819951 |
|
6 |
10252970 |
30/10/2010 |
700,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452007, INDIA |
A98846470 |
|
7 |
10224464 |
19/05/2010 |
100,000,000.00 |
BANK OF BARODA |
SIYAGANJ BRANCH,
15/16, JAWAHAE MARG, IDA BUILDING, INDORE, MADHYA PRADESH - 452007, INDIA |
A87069332 |
|
8 |
10209277 |
25/03/2010 |
100,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWERWTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A81735607 |
|
9 |
10216608 |
25/03/2010 |
392,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452007, INDIA |
A84230515 |
|
10 |
10197498 |
15/12/2009 |
150,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE FINANCE
BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452007, INDIA |
A76773498 |
|
11 |
10179586 |
07/09/2009 |
200,000,000.00 |
CENTRAL BANK OF
INDIA LIMITED |
CORPORATE
FINANCE BRANCH, SIYAGANJ, INDORE, MADHYA PRADESH - 452007, INDIA |
A70348370 |
|
12 |
10144658 |
16/03/2012 * |
237,500,000.00 |
AXIS BANK
LIMITED |
KAMAL PALACE, 1
YESHWANT COLONY, Y.N. ROAD, INDORE, MADHYA PRADESH - 452003, INDIA |
B36789121 |
|
13 |
10128121 |
16/03/2012 * |
123,700,000.00 |
AXIS BANK
LIMITED |
NARIMAN POINT BRANCH,
ATLANTA BUILDING, GROUND FLOOR, NARIMAN POINT, MUMBAI, MADHYA PRADESH -
400021, INDIA |
B36793743 |
|
14 |
10119587 |
28/08/2008 |
150,000,000.00 |
STATE BANK OF
INDORE |
IFB BRANCH, KHEL
PRASHAL, INDORE, MADHYA PRADESH |
A44544187 |
|
15 |
10094649 |
16/03/2012 * |
950,000,000.00 |
AXIS BANK
LIMITED |
KAMAL PALACE, 1
YESHWANT COLONY, Y.N. ROAD, INDORE, MADHYA PRADESH - 452003, INDIA |
B36792653 |
|
16 |
10048545 |
16/03/2012 * |
250,000,000.00 |
BANK OF BARODA |
SIYAGANJ BRANCH,,
15/16, JAWAHAR MARG,, INDORE, MADHYA PRADESH - 452007, INDIA |
B36786531 |
|
17 |
10048839 |
16/03/2012 * |
200,000,000.00 |
DENA BANK |
NAVLAKHA BRANCH,
A.B. ROAD, INDORE, MADHYA PRADESH - 452001, INDIA |
B38887907 |
|
18 |
10049550 |
16/03/2012 * |
260,000,000.00 |
AXIS BANK
LIMITED |
NARIMAN POINT
BRANCH, ATLANTA BUILDING, GROUND FLOOR, NARIMAN POINT, MUMBAI, MAHARASHTRA -
400021, |
B36438141 |
|
19 |
10048215 |
16/03/2012 * |
240,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC COMPLEX,
CUFFE PARADE, MUMBAI, |
B36637130 |
|
20 |
10045640 |
28/03/2007 |
50,000,000.00 |
CENTRAL BANK OF
INDIA LIMITED |
CORPORATE
FINANCE BRANCH, SIYAGANJ, INDORE, MAHARASHTRA - 452007, INDIA |
A13554100 |
|
21 |
10022696 |
16/03/2012 * |
250,000,000.00 |
STATE BANK OF
PATIALA |
MID CORPORATE
BRANCH, LOWER GROUND FLOOR, ORBIT MALL, A.B. ROAD, INDORE, MADHYA PRADESH -
452010, |
B36789782 |
|
22 |
10020402 |
16/03/2012 * |
550,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, THE ARCADE, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA -
400 |
B36867109 |
|
23 |
10015128 |
16/03/2012 * |
300,000,000.00 |
CANARA BANK |
PRIME CORPORATE
BRANCH II, VARMA CHAMBER, 2ND FLOOR, HOMJEE STREET, FORT, MUMBAI,
MAHARASHTRA - 400001, INDIA |
B36725323 |
|
24 |
10012512 |
16/03/2012 * |
200,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, WTC
COMPLEX, CUFFE PARADE, MUMBAI, |
B36638476 |
|
25 |
10012595 |
16/03/2012 * |
300,000,000.00 |
EXPORT IMPORT
BANK OF INDIA |
CENTRE ONE
BUILDING, FLOOR 21, WORLD TRADE CENTRE, |
B36960672 |
|
26 |
80028462 |
16/03/2012 * |
941,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, THE ARCADE, WORLD TRADE CENTRE, CUFFE PARADE,, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B36867364 |
|
27 |
80036621 |
16/03/2012 * |
525,000,000.00 |
BANK OF BARODA |
SIYAGANJ BRANCH,,
15/16, JAWAHAR MARG, IDA BUILDING, INDORE, MADHYA PRADESH - 452007, INDIA |
B36788305 |
|
28 |
80028461 |
16/03/2012 * |
393,000,000.00 |
CENTRAL BANK OF
INDIA |
MID CORPORATE
BRANCH, SIYAGANJ, INDORE, MADHYA PR |
B36819514 |
|
29 |
80025713 |
16/03/2012 * |
100,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, THE ARCADE, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI,
MAHARASHTRA - 400005, INDIA |
B36866978 |
|
30 |
80036620 |
16/03/2012 * |
114,500,000.00 |
STATE BANK OF
PATIALA |
MID CORPORATE
BRANCH, LOWER GROUND FLOOR, ORBIT MALL, A.B. ROAD, INDORE, MADHYA PRADESH -
452010, INDIA |
B36790988 |
|
31 |
80008757 |
29/12/2008 * |
120,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, WORLD TRADE |
A54775671 |
|
32 |
80002129 |
21/10/2011 * |
4,550,000,000.00 |
CANARA BANK |
11, RNT MARG, INDORE,
MADHYA PRADESH - 452001, INDIA |
B25168345 |
|
33 |
80028463 |
16/03/2012 * |
1,186,500,000.00 |
CANARA BANK |
SIYAGANJ
BRANCH,, 11, RNT MARG, INDORE, MADHYA PRADESH - 452001, INDIA |
B37027893 |
|
34 |
80036623 |
26/03/2009 * |
207,000,000.00 |
STATE BANK OF
INDORE |
IFB BRANCH, KHEL
PRASHAL, INDORE, MADHYA PRADESH |
A60088507 |
* Date of charge modification
CONTINGENT
LIABILITIES ARE NOT PROVIDED FOR:
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Bills discounted with banks but not realized |
357.779 |
388.455 |
|
Letters of Credit |
492.558 |
578.476 |
|
Bank Guarantees |
4.200 |
0.200 |
|
Bonds
/Undertakings given by the Company under concessional duty/exemption scheme to
Government authorities (Net of obligations fulfilled) |
2249.326 |
2243.552 |
FIXED ASSETS
·
Land
·
Building
·
Plant and
Machinery
·
Electrical
Installation
·
Furniture and
Fixture and Other Assets
·
Vehicle
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.61.43 |
|
|
1 |
Rs.95.07 |
|
Euro |
1 |
Rs.81.78 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.