MIRA INFORM REPORT
|
Report Date : |
21.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
OSWAL PUMPS LIMITED |
|
|
|
|
Formerly Known
As : |
OSWAL PUMPS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-5/2 A, Rana Partap Bagh, Opposite CC Cplony, Delhi – 110007 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
15.07.2003 |
|
|
|
|
Com. Reg. No.: |
55-121307 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.58.519 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999DL2003PLC121307 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELO02982A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Pumps and Motors. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 930000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company seems to be low. The external borrowing appears
to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings 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.
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 |
Fund based limit: BB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
June 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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Narendra |
|
Designation : |
Account Manager |
|
Contact No.: |
91-9416204144 |
|
Date : |
13.08.2013 |
LOCATIONS
|
Registered Office : |
C-5/2 A, Rana Partap Bagh, Opposite CC Cplony, Delhi – 110007 |
|
Tel. No.: |
91-184-6616600 |
|
Mobile No.: |
91-9416204144 (Mr. Narendra) |
|
Fax No.: |
91-1748-257700 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
300 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Factory : |
Oswal Estate, NH-1, Kutail Road, P.O. Kutail, Disttt., Karnal –
132037, Haryana, India |
|
Tel. No.: |
91-184-6616626/6616600/6616601/6616630 91-1748-257701/257702/257703/257704 |
|
Fax No.: |
91-1748-257700 |
|
E-Mail : |
|
|
|
|
|
Corporate Office [Old] : |
Oswal Estate, 73/1, Mile Stone, |
|
Tel. No.: |
91-184-2221502 / 03 / 04 / 05 / 06 / 07 |
|
Fax No.: |
91-184-2221501 |
|
Area : |
Approx. 2 Lacs Sq. Feet |
|
Location : |
Owned |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Rajev Gupta |
|
Designation : |
Whole time Director |
|
Address : |
H No. 871, Sector – 13, 4 E Karnal – 132001, Haryana, India |
|
Date of Birth/Age : |
B. Com |
|
Date of Appointment : |
15.07.2003 |
|
PAN No.: |
AAPPG4046D |
|
DIN No.: |
00172828 |
|
|
|
|
Name : |
Mr. Vivek Gupta |
|
Designation : |
Whole time Director |
|
Address : |
H. No. 831, Sector 13, Urban Estate, Huda, Karnal – 132001, |
|
Date of Birth/Age : |
26.06.1969 |
|
Qualification : |
B. Com, LLB |
|
Date of Appointment : |
22.09.2006 |
|
PAN No.: |
AAPPG4029A |
|
DIN No.: |
00172835 |
|
|
|
|
Name : |
Mr. Padam Sain Gupta |
|
Designation : |
Whole time Director |
|
Address : |
H. No. 831, Sector 13, Urban Estate, Huda, Karnal – 132001, |
|
Qualification : |
Under Graduate |
|
Date of Appointment : |
15.07.2006 |
|
PAN No.: |
AAPPG4043G |
|
DIN No.: |
00172840 |
KEY EXECUTIVES
|
Name : |
Mr. Narendra |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajev Gupta |
|
2000 |
|
Ess Aar Corporate Services (Private) Limited, India |
|
1034750 |
|
Padam Sain Gupta |
|
1406000 |
|
Rekha Gupta |
|
100000 |
|
Radhikha Gupta |
|
100000 |
|
Shorya Trading Company (Private) Limited, India |
|
3207150 |
|
Vivek Gupta |
|
2000 |
|
|
|
|
|
Total |
|
5851900 |
Equity Share Break up (Percentage of Total Equity)
As on 28.09.2012
|
Category |
Percentage |
|
Bodies corporate |
72.59 |
|
Directors or relatives of Directors |
27.41 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Pumps and Motors. |
||||
|
|
|
||||
|
Products : |
·
Stainless Steel Submersible Pumps ·
Stainless Steel Submersible Motors ·
Booster Pumps ·
Mono Block Pumps ·
Centrifugal Pumps ·
Borewell Submersible Pumps Sets o
Oil Filled Submersible Pumps Sets (Single and
Three Phase-80 and 100 mm) o
Water Filled Submersible Pumps (Single and Three
Phase-80 mm to 200 mm) ·
Horizontal Open well Submersible Pumps ·
Re-Generative Self Priming Monoblock Pumps Sets o
Re-Generative Self Priming Monoblock Pumps-1440
RPM o
Re-Generative Self Priming Monoblock Pumps-2880
RPM ·
Centrifugal Mono Block Pumps o
Centrifugal Monoblock Pumps-1440 RPM o
Centrifugal Monoblock Pumps-2880 RPM ·
Squirrel cage Induction Motor Single Phase and
Three Phase o
Squirrel cage Induction Motor Single Phase-Model
TEFC o
Squirrel cage Induction Electric Motors-Three
Phase ·
Submersible Winding Wires and Cables ·
Noryl Impellers and Diffusers for V3/V4
Submersible Pumps ·
Other Products o
Electrical Stampings: Aluminium Die Casted Rotors,
etc. o
Carbon Thrust Bearing o
Investment Castings Submersible Winding Wires and Cables
|
||||
|
|
|
||||
|
Exports : |
|
||||
|
Products : |
Finished Goods |
||||
|
Countries : |
Iraq |
||||
|
|
|
||||
|
Imports : |
|
||||
|
Products : |
Raw Material |
||||
|
Countries : |
China |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
|
|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
AS ON 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
Submersible Pumps, Monobloc Pumps, Electric Motors, etc |
Nos. |
156809 |
GENERAL INFORMATION
|
Customers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||
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|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Viney Goel and Associates Chartered Accountants |
|
Address : |
B-2, Purshotam Market, Near Chandranchal Banquet Hall, Karnal 132001, |
|
Mobile No.: |
91-9416032944 (Viney Goel) |
|
Tel. No.: |
91-184-2272648 |
|
Email : |
|
|
PAN No.: |
AAUPG9133A |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs. 70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5851900 |
Equity Shares |
Rs.10/- each |
Rs. 58.519
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 |
|
58.519 |
58.129 |
|
(b) Reserves & Surplus |
|
174.659 |
140.837 |
|
(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) |
|
233.178 |
198.966 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
278.690 |
211.166 |
|
(b) Deferred tax liabilities (Net) |
|
9.646 |
7.559 |
|
(c) Other long term
liabilities |
|
2.336 |
15.300 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
290.672 |
234.025 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
364.320 |
326.704 |
|
(b) Trade
payables |
|
156.098 |
145.231 |
|
(c) Other
current liabilities |
|
42.593 |
30.592 |
|
(d) Short-term
provisions |
|
3.096 |
2.908 |
|
Total Current
Liabilities (4) |
|
566.107 |
505.435 |
|
|
|
|
|
|
TOTAL |
|
1089.957 |
938.426 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
272.563 |
254.245 |
|
(ii)
Intangible Assets |
|
2.462 |
3.235 |
|
(iii)
Capital work-in-progress |
|
0.000 |
2.488 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
8.384 |
5.451 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
283.409 |
265.419 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
680.500 |
519.691 |
|
(c) Trade
receivables |
|
85.203 |
114.866 |
|
(d) Cash
and cash equivalents |
|
0.534 |
0.736 |
|
(e)
Short-term loans and advances |
|
40.311 |
37.688 |
|
(f) Other
current assets |
|
0.000 |
0.026 |
|
Total
Current Assets |
|
806.548 |
673.007 |
|
|
|
|
|
|
TOTAL |
|
1089.957 |
938.426 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
57.767 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
123.799 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
181.566 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
329.038 |
|
|
2] Unsecured Loans |
|
|
158.164 |
|
|
TOTAL BORROWING |
|
|
487.202 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.664 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
676.432 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
203.415 |
|
|
Capital work-in-progress |
|
|
31.356 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
423.070
|
|
|
Sundry Debtors |
|
|
143.040
|
|
|
Cash & Bank Balances |
|
|
2.075
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
42.290
|
|
Total
Current Assets |
|
|
610.475
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
144.187
|
|
|
Other Current Liabilities |
|
|
24.760
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
168.947
|
|
|
Net Current Assets |
|
|
441.528
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.133 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
676.432 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1395.278 |
1053.719 |
965.599 |
|
|
|
Other Income |
7.155 |
0.249 |
0.054 |
|
|
|
TOTAL (A) |
1402.433 |
1053.968 |
965.653 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material consumed |
483.348 |
503.394 |
|
|
|
|
Purchase of stock – in - trade |
618.088 |
219.291 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock –
in - trade |
(4.195) |
9.813 |
|
|
|
|
Employees benefit Expenses |
41.822 |
37.905 |
|
|
|
|
Other Expenses |
151.516 |
193.045 |
|
|
|
|
TOTAL (B) |
1290.579 |
963.448 |
750.836 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
111.854 |
90.520 |
214.817 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
59.843 |
43.957 |
39.654 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.011 |
46.563 |
175.163 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.699 |
33.419 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
13.312 |
13.144 |
175.163 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.201 |
2.993 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
8.111 |
10.151 |
175.163 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.39 |
1.74 |
1.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.95
|
1.25 |
18.14 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.95
|
1.25 |
18.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.22
|
1.40 |
25.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
3.46
|
3.38 |
0.96 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.76
|
2.70 |
2.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.33 |
3.61 |
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 |
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: Registered office of the company has been 21 Syndicate
House, 3 Old Rohtak Road, New Delhi, India to
the present address w.e.f 18.01.2011
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
253.603 |
54.929 |
|
Loans repayable on demand |
0.000 |
123.333 |
|
Total |
253.603 |
178.262 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74999DL2003PTC121307 |
|
Name of the
company |
OSWAL PUMPS LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-5/2 A, Rana
Partap Bagh, Opposite CC CPLONY, |
|
This form is for |
Modification of
charge |
|
Charge
identification (ID) number of the charge to be modified |
10228121 |
|
Type of charge |
·
Book debts ·
Movable
property (not being pledge) ·
Floating charge |
|
Particular of
charge holder |
CIN: L65920MH1994PLC080618 HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel
West, Mumbai – 400013, Maharashtra, India Email: RBBform8@hdfcbank.com |
|
Nature of
instrument creating charge |
Supplementary
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
25.04.2012 |
|
Amount secured by
the charge |
Rs.490.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest - Interest at the rate as may be
communicated by the Bank from time to time. Terms of repayment - On demand Margin - As may be stipulated by the Bank from time
to time. Extent and operation of the charge - Hypothecation by way of First Charge on
Company's Stocks, Book Debts, Plant and Machinery and Vehicles etc, as a continuing security as mentioned
in secure for the repayment of Rs. 495.000 millions together with interest,
costs, charges, expenses and other moneys due and payable by the Company to
the Bank. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
i) Stock in Trade, consisting of raw materials, goods in process of manufacturing
finished goods, and other merchandise whatsoever being movable properties,
now ii) All the debts, that is, all the book debts, outstandings, monies
receivables, claims, bills, invoice documents, contracts, guarantees, and
rights which are now iii) The movable plant and machinery and Vehicles which may now or at
any time hereafter belong to the Borrower or come to the Borrower’s disposal
any of the |
|
Date of
instrument modifying the charge |
20.05.2011 |
|
Particulars of
the present modification |
The Charge shall
now stand increased from to Rs. 430.000 millions to Rs. 490.000 millions
against the security of Stocks, Book
Debts, Plant and Machinery and Vehicles of the Company. |
FIXED ASSETS
Tangible Assets
- Building
- Plant and
Equipment
- Factory
Equipment
- Vehicles
- Motor Vehicles
- Office
Equipment
- Computer
Equipment
- Other
Equipment
- Brands
- Patents
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.63.73 |
|
|
1 |
Rs.99.79 |
|
Euro |
1 |
Rs.85.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.