MIRA INFORM REPORT
|
Report Date : |
19.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOWRA PETROCHEM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No 501, 5th Floor, “Gowra Grand” Behind Gowra Plaza, H. No.1-8-384 and
385 S. P. Road, Begumpet, Secunderabad - 500003, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.03.1995 |
|
|
|
|
Com. Reg. No.: |
01-019620 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 9.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201AP1995PTC019620 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDG00601G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7481Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealing in Polymers, Chemicals, Metals, etc. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 910000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relation are fair. Business is active. Payment terms are usually
correct. The company can be considered for business dealing 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.
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 |
ICRA |
|
Rating |
Cash credit: BBB - |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
April 2013. |
|
Rating Agency Name |
ICRA |
|
Rating |
Channel financing: A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
April 2013. |
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 DENIED BY
|
Name : |
Mr. Ram Krishna Rao |
|
Designation : |
Key Executive |
|
Contact No.: |
91-40-27846275 |
|
Date : |
17.08.2013 |
LOCATIONS
|
Registered Office : |
No 501, 5th Floor, “Gowra Grand” Behind Gowra Plaza, H. No.1-8-384 and
385 S. P. Road, Begumpet, Secunderabad - 500003, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27846275 / 27846750 / 27843091 |
|
Fax No.: |
91-40-27816817 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Located at: Ř Chennai Ř Bangalore Ř Vishakhapatnam Ř Adoni and Ř Proddatur |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Srinivas Gowra |
|
Designation : |
Chairman and Managing Director |
|
Address : |
175, Motilal Nehru Nagar, Begumpet, Hyderabad-500016, Andhra Pradesh,
India |
|
Date of Birth/Age : |
25.12.1994 |
|
Date of Appointment : |
01.05.1995 |
|
DIN No.: |
00286986 |
|
|
|
|
Name : |
Mr. Lakshmi Prasad Gowra |
|
Designation : |
Whole Time Director |
|
Address : |
Gnanakshi, H. No.1, Prenderghast Road, Secunderabad-50003, Andhra
Pradesh, India |
|
Date of Birth/Age : |
05.06.1953 |
|
Date of Appointment : |
07.03.1995 |
|
DIN No.: |
00268271 |
|
|
|
|
Name : |
Mr. Lakshminarayana Gowra |
|
Designation : |
Whole Time Director |
|
Address : |
Gowra Nivas, Adoni, Kurnool-518301, Andhra Pradesh, India |
|
Date of Birth/Age : |
24.02.1947 |
|
Date of Appointment : |
01.05.1995 |
|
DIN No.: |
00287021 |
|
|
|
|
Name : |
Mr. Subbaraj Gowra |
|
Designation : |
Whole Time Director |
|
Address : |
175, Motilal Nehru Nagar, Begumpet, Hyderabad-500016, Andhra Pradesh,
India |
|
Date of Birth/Age : |
24.05.1969 |
|
Date of Appointment : |
07.03.1995 |
|
DIN No.: |
00287820 |
|
|
|
|
Name : |
Mr. Gowra Raja Gopal |
|
Designation : |
Director |
|
Address : |
Flat No.136, 3rd Floor, Sirla Height, 25 B/B, East
Marredpally, Secunderabad-500026, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.08.1950 |
|
Date of Appointment : |
01.05.1995 |
|
DIN No.: |
01354786 |
|
|
|
|
Name : |
Mr. Surya Prakash Gowra |
|
Designation : |
Whole Time Director |
|
Address : |
No. 64, 3rd Cross, 24th Main Manjunatha Colony, Narena Halli, 2nd Phase,
J. P. Nagar, Bangalore-560078, Karnataka, India |
|
Date of Birth/Age : |
01.07.1952 |
|
Date of Appointment : |
22.06.1995 |
|
DIN No.: |
01377618 |
KEY EXECUTIVES
|
Name : |
Mr. Ram Krishna Rao |
|
Designation : |
Key Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
G L Prasad |
|
90000 |
|
Subbaraj Gowra |
|
45000 |
|
G S Sabitha |
|
36000 |
|
G R Nirmala |
|
13500 |
|
Gowra Aditya |
|
45000 |
|
G L Ramadevi |
|
36000 |
|
Gowra Lakshminarayana |
|
90000 |
|
Roja Gowra |
|
27000 |
|
G Leelavathamma Ratnam |
|
18000 |
|
G Anil Kumar |
|
63000 |
|
G S Rekha |
|
45000 |
|
G Nanda |
|
18000 |
|
Nagarjun Gowra |
|
45000 |
|
Gowra Arvind |
|
45000 |
|
S R. Vijayalakshmi |
|
18000 |
|
Gowra Srinivas |
|
90000 |
|
G L Subbaram |
|
45000 |
|
Venkat Ratnam Gowra |
|
18000 |
|
Gowra S Rajagopal |
|
22500 |
|
G S Ramesh Babu |
|
18000 |
|
Gowra Surya Prakash |
|
72000 |
|
Total |
|
900000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealing in Polymers, Chemicals, Metals, etc. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
ING Vysya Bank Limited, 3-3-798, I Floor, Vysya Bank Building, General Bazar, Secunderabad - 500003, Andhra Pradesh, India |
||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Anant Rao and Mallik Chartered Accountant |
|
Address : |
B-310, Kushal Towers, Khairatabad, Hyderabad-500004, Andhra Pradesh,
India |
|
PAN No.: |
AADFA0055G |
|
|
|
|
Associates : |
|
CAPITAL STRUCTURE
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.10/- each |
Rs. 9.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
900000 |
Equity Shares |
Rs.10/- each |
Rs. 9.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
9.000 |
3.000 |
|
(b) Reserves & Surplus |
|
219.415 |
189.150 |
|
(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) |
|
228.415 |
192.150 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
7.064 |
2.687 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
7.064 |
2.687 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
301.800 |
224.037 |
|
(b) Trade payables |
|
51.926 |
58.616 |
|
(c) Other current liabilities |
|
86.808 |
70.906 |
|
(d) Short-term provisions |
|
17.182 |
17.360 |
|
Total Current
Liabilities (4) |
|
457.716 |
370.919 |
|
|
|
|
|
|
TOTAL |
|
693.195 |
565.756 |
|
|
|
|
|
|
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
19.805 |
7.235 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
24.629 |
24.629 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other Non-current assets |
|
0.597 |
0.522 |
|
Total Non-Current
Assets |
|
45.031 |
32.386 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
45.400 |
11.136 |
|
(c) Trade receivables |
|
512.192 |
428.836 |
|
(d) Cash and cash equivalents |
|
0.651 |
1.004 |
|
(e) Short-term loans and advances |
|
45.210 |
50.272 |
|
(f) Other current assets |
|
44.711 |
42.122 |
|
Total Current Assets |
|
648.164 |
533.370 |
|
|
|
|
|
|
TOTAL |
|
693.195 |
565.756 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
3.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
154.402 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
157.402 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
50.140 |
|
|
2] Unsecured Loans |
|
|
69.964 |
|
|
TOTAL BORROWING |
|
|
120.104 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
277.506 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
8.266 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
24.629 |
|
|
DEFERREX TAX ASSETS |
|
|
0.367 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
27.049 |
|
|
Sundry Debtors |
|
|
297.291 |
|
|
Cash & Bank Balances |
|
|
3.996 |
|
|
Other Current Assets |
|
|
17.086 |
|
|
Loans & Advances |
|
|
53.960 |
|
Total
Current Assets |
|
|
399.382 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
25.022 |
|
|
Other Current Liabilities |
|
|
112.980 |
|
|
Provisions |
|
|
17.136 |
|
Total
Current Liabilities |
|
|
155.138 |
|
|
Net Current Assets |
|
|
244.244 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
277.506 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
604.895 |
405.744 |
369.650 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
526.017 |
337.068 |
309.125 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
78.878 |
68.676 |
60.525 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
23.493 |
14.862 |
10.318 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.385 |
53.814 |
50.207 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
2.011 |
1.862 |
1.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
53.374 |
51.952 |
48.490 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
17.109 |
17.205 |
16.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.265 |
34.747 |
32.058 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.957 |
1.757 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
63.971 |
103.434 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
40.30 |
11.58 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
6.00 |
8.56 |
8.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.98 |
9.61 |
11.88 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.23 |
0.28 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.35 |
1.18 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
1.43 |
2.57 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2012 |
As on 31.03.2011 |
|
Short term borrowing
|
|
|
|
Channel Finance |
|
|
|
HDFC Bank – RIL |
24.972 |
22.476 |
|
ICICI Bank – CSL |
11.340 |
0.896 |
|
Directors |
|
|
|
G Srinivas |
0.000 |
0.358 |
|
G Lakshminarayana |
5.340 |
13.991 |
|
G L Prasad |
0.683 |
1.215 |
|
G Rajagopal |
4.250 |
0.750 |
|
G S Subbaraj |
0.507 |
1.231 |
|
G Surya Prakash |
1.054 |
1.597 |
|
Others |
|
|
|
G Anil Kumar |
12.794 |
0.686 |
|
G L Prasad (HUF) |
10.013 |
8.043 |
|
G L Arvind |
7.171 |
0.598 |
|
G L Ramadevi |
1.396 |
10.635 |
|
G S Aditya (HUF) |
0.062 |
3.369 |
|
G S Sabita |
0.157 |
0.135 |
|
G S Rajagopal (HUF) |
2.922 |
1.095 |
|
G S Ramesh Babu |
12.722 |
4.216 |
|
G L Subbaram (HUF) |
20.656 |
19.070 |
|
G L Subbaram |
0.799 |
1.512 |
|
G S Nagarjun |
0.355 |
0.675 |
|
G S Nagarjun (HUF) |
0.035 |
0.761 |
|
G Srinivas (HUF) |
0.048 |
0.113 |
|
G Lakshminarayayana (HUF) |
2.844 |
18.891 |
|
G S Subbaraj (HUF) |
0.011 |
0.486 |
|
G Manjeera |
0.521 |
0.471 |
|
G R Leelavathamma |
2.016 |
1.819 |
|
G N Kanthi |
0.195 |
1.151 |
|
G Roja |
1.841 |
1.211 |
|
G S Rekha |
0.549 |
0.495 |
|
G V Ratnam |
1.293 |
0.195 |
|
G Archana |
0.178 |
0.096 |
|
G A Sathvik |
0.129 |
0.116 |
|
G A Swetha |
0.008 |
0.039 |
|
G N Vineet |
0.420 |
0.428 |
|
G S Kruthika |
0.706 |
0.637 |
|
G S Manasa |
1.002 |
0.904 |
|
G N Saketha |
0.216 |
0.195 |
|
G R Nirmala |
2.326 |
2.099 |
|
G Chitra |
0.268 |
0.284 |
|
G Swathi |
0.627 |
0.566 |
|
G Anil Kumar (HUF) |
1.458 |
0.304 |
|
G A Saai Ujwal |
0.100 |
0.091 |
|
G S Aditya |
0.112 |
0.335 |
|
G V Ratnam (HUF) |
3.526 |
3.181 |
|
P Stuti |
0.437 |
0.159 |
|
G. Ratnanjali |
2.108 |
0.000 |
|
G. Surya Prakash (HUF) |
1.760 |
0.000 |
|
|
|
|
|
Total |
141.927 |
127.575 |
Bankers Charges
Report as per Registry
|
Corporate identity
number (CIN) or foreign company registration number of the company |
U23201AP1995PTC019620 |
|
Name of the
company |
GOWRA PETROCHEM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
No.501, 5th
Floor, "Gowra Grand", Behind Gowra Plaza, H. No.1-8-384 and 385, S.
P. Road, Begumpet Secunderabad – 500003, Andhra Pradesh, India Email-id - gowra@gowra.net |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10189619 |
|
Type of charge |
Book debts Movable property
(not being pledge) Others (Current
Assets) |
|
Particular of
charge holder |
State Bank of India, PBB, Sardar Patel Road, Gowra Plaza, Begumpet
Road, Secunderabd-500003, Andhra Pradesh, India Email-id - gulumuru.rao@sbi.co.in |
|
Nature of
instrument creating charge |
1) Supplemental Agreement
of hypothecation of goods and Assets for increase in the overall limit,
dt.27-05-2013 2) Supplemental
Agreement of loan for increase in the overall limit, dt.27-05-2013 3) Letter
regarding the grant of individual limit within the overall limit. dt.27-05-2013 4) Sanction
letter dt.18-04-2013 |
|
Date of
instrument Creating the charge |
27.05.2013 |
|
Amount secured by
the charge |
Rs. 375.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 2.50% above base
rate (Base rate being 9.70% w.e.f. 04-02-2013) and effective rate
@12.20%.p.a. Terms of Repayment Repayable on
demand Margin Raw materials
(Domestic/Imported) @25% Finished Goods
@25% Receivables (Cover
Period 120 days) @40% Letters of
Credit, Bank Guarantees and Buyer`s Credit @10% each. Extent and Operation of the charge Total fund based
-Rs.70.000 Millions and non-fund based Rs.105.000 Millions (LC Limit of
Rs.92.000 Millions, BG Limit of Rs.11.000 Millions with 100%
interchangeability and Derivative limit of Rs.2.000 Millions) and LC Bill
Discounting Limit(Outside ABF) Rs.200.000 Millions with aggregate Limit of
Rs. 375.000 Millions together with interest costs and other charges thereon
both present and future and charge operated by way of Hypothecation of all
Stocks and Receivables(Regular Sales) and other Chargeable Current Assets of
the Company. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The goods and
assets hypothecated and charged in favour of the Bank by and under the
Agreement of hypothecation dated 19.11.2009 and supplemental Agreement dated
07/01/2011, shall be and stand charged in favour of the Bank as a continuing
security by way of first charge for the due repayment of increased limits of
Rs.375.000 Millions. Hypothecation of
Stocks and Receivables emanating from regular sales and other unencumbered
current assets of the Company. Tangible
properties stand in the name of directors and guarantors as detailed in the
sanction letter dated 18.04.2013. |
|
Date of
instrument modifying the charge |
07.01.2011 |
|
Particulars of
the present modification |
By agrmt of hypothecation.
dt. 19.11.2009 as modified by supplemtal Agmt. dt. 07.01.2011, the Company
hypothecated infavour of the bank, all present and future goods, book debts
and other movable assets for cash credit limit of Rs.145.000 Millions. Now
the cash credit limit has increased from 145.000 millions to 375.000 millions
by way of execution of the supplmtl. Agmt. of hypothecation of goods and
assets for increase in the overall limit dt.27.05.2013. |
OPERATIONS
The Company achieved a total income of Rs.604.895 millions against Rs.405.744 millions in the previous year and net profit of Rs. 36.265 millions as compared to Rs. 34.747 millions in the previous year. During the current year the company is confident of achieving higher income and profit
FIXED ASSETS
- Building
- Equipment
- Vehicles
- Computers
- Furniture
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. 61.81 |
|
|
1 |
Rs. 96.57 |
|
Euro |
1 |
Rs. 82.45 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.