MIRA
INFORM REPORT
|
Report Date : |
26.08.2013 |
IDENTIFICATION DETAILS
|
Name : |
JYOTI (INDIA) METAL INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
223, Kaliandas Udyog Bhavan, S.H. Tandel Marg, Near Century Bazar,
Worli, Mumbai – 400 025, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.09.1996 |
|
|
|
|
Com. Reg. No.: |
11-102939 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.5.979 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26900MH1996PTC102939 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMJ08997C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Kitchen Sinks. |
|
|
|
|
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 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in the profitability of the company. However trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for 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.
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 : |
Ms. Meena |
|
Designation : |
Finance Executive |
|
Contact No.: |
91-22-2431550 |
|
Date : |
22.08.2013 |
LOCATIONS
|
Registered Office : |
223, Kaliandas Udyog Bhavan, S.H. Tandel Marg, Near Century Bazar,
Worli, Mumbai – 400 025, |
|
Tel. No.: |
91-22-24315500/01/02 |
|
Fax No.: |
91-22-24362543 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory: |
Village Shelvali, |
|
Tel. No.: |
91-22-24315500 (10 Lines) |
|
Fax No.: |
91-22-24362543 |
|
E-Mail: |
|
|
|
|
|
Designer Gallery : |
Shop No.2, Mansarovar Bulding, Oppsoite, Vijay Sales, Near Standard
Charterd Bank, |
|
Tell No.: |
91-22-32424874/26499874 |
|
|
|
|
Branch Office: |
F-28/4 Ground Floor, Okhal Industries area Phase II, New Delhi
-110020, India |
|
Tell No.: |
91-11-322233092 |
|
Email: |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Bhailal Ratanshi Gada |
|
Designation : |
Director |
|
Address : |
Flat No.701, Nirant, 7th Floor, 520, |
|
Date of Birth/Age : |
12.07.1961 |
|
Qualification : |
HSC |
|
Date of Appointment : |
27.09.1996 |
|
Din No.: |
00701044 |
|
|
|
|
Name : |
Mr. Navin Ratanshi Gada |
|
Designation : |
Director |
|
Address : |
701, Royal Grace, Lokmanya Tilak Marg No.2, Dadar, Mumbai – 400 014, |
|
Date of Birth/Age : |
09.01.1956 |
|
Qualification : |
B.Sc |
|
Date of Appointment : |
27.09.1996 |
|
Din No.: |
00651876 |
|
|
|
|
Name : |
Mrs. Rita Bhailal Gada |
|
Designation : |
Director |
|
Address : |
Flat no.702, Nirant, 7th Floor, 520, |
|
Date of Birth/Age : |
07.07.1966 |
|
Date of Appointment : |
29.09.2012 |
|
Din No.: |
01840789 |
|
|
|
|
Name : |
Mr. Shrenik Navin Gada |
|
Designation : |
Director |
|
Address : |
701, Royal Grace, Lokmanya Tilak Marg No.2, Dadar, Mumbai – 400 014, |
|
Date of Birth/Age : |
05.12.1986 |
|
Date of Appointment : |
29.09.2012 |
|
Din No.: |
03477853
|
KEY EXECUTIVES
|
Name : |
Ms. Meena |
|
Designation : |
Finance Executive |
|
|
|
|
Name : |
KN and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
208, 2nd Floor, G wing, Dr. Babasaheb Ambedkar Nagar CHS, Behind
Kamgar Stadium, Elphinston Road (West), Mumbai – 400013, Maharashtra, India |
|
Tel No.: |
91-22-24310413/24381857 |
|
Email: |
|
|
Website: |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bhailal Ratanshi Gada |
|
191698 |
|
Navin Ratanshi Gada |
|
191698 |
|
Leena Navin Gada |
|
5100 |
|
Rita Bhailal Gada |
|
5100 |
|
Sumedha Trading Private Limited, |
|
131240 |
|
Natasha Real Estate and Developers Private Limited, |
|
73100 |
|
Total |
|
597936 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
34.17 |
|
Directors or relatives of Directors |
65.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Kitchen Sinks. |
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Product: |
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Terms : |
|
||||
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Selling : |
Cash and Credit |
||||
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|
|
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|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
St St Sinks |
200000 pcs |
217861 pcs |
|
|
|
|
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers ·
End Users |
|
|
|
|
No. of Employees : |
150 (Approximately) |
|
|
|
|
Bankers : |
·
The Sarswat Co-Operative Bank Limited, Kanchwala
Building, Opposite Old Passport Office, Dr. A B Road, Worli, Mumbai – 400030,
Maharashtra, India ·
Citi Bank N.A., Trent House, 2nd
Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai -
400 051, ·
ICICI Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chetan N. Dedhia Chartered Accountant |
|
Address : |
48, Patwa Chambers, 104/108, |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACPD8235C |
|
|
|
|
Related Party : |
LN Engineering Work Private Limited |
CAPITAL STRUCTURE
AFTER 29.09.2012
Authorised Capital : Rs.20.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.17.938
Millions
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
597936 |
Equity Shares |
Rs.10/- each |
Rs.5.979
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 |
|
5.979 |
5.979 |
|
(b) Reserves & Surplus |
|
264.175 |
235.838 |
|
(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) |
|
270.154 |
241.817 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
131.351 |
113.234 |
|
(b) Deferred tax liabilities (Net) |
|
6.824 |
1.040 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
5.783 |
5.666 |
|
Total Non-current Liabilities (3) |
|
143.958 |
119.940 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
44.879 |
44.544 |
|
(b) Trade payables |
|
25.068 |
24.685 |
|
(c) Other current liabilities |
|
5.072 |
30.084 |
|
(d) Short-term provisions |
|
3.421 |
4.676 |
|
Total Current Liabilities (4) |
|
78.440 |
103.989 |
|
|
|
|
|
|
TOTAL |
|
492.552 |
465.746 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
53.172 |
58.369 |
|
(ii) Intangible Assets |
|
11.228 |
13.196 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.035 |
0.035 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
3.169 |
6.863 |
|
(e) Other Non-current assets |
|
9.083 |
4.198 |
|
Total Non-Current Assets |
|
76.687 |
82.661 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
112.008 |
120.934 |
|
(c) Trade receivables |
|
132.345 |
126.972 |
|
(d) Cash and cash equivalents |
|
54.194 |
36.908 |
|
(e) Short-term loans and
advances |
|
113.109 |
73.527 |
|
(f) Other current assets |
|
4.209 |
24.744 |
|
Total Current Assets |
|
415.865 |
383.085 |
|
|
|
|
|
|
TOTAL |
|
492.552 |
465.746 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.979 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
199.617 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
205.596 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
14.951 |
|
|
2] Unsecured Loans |
|
|
147.961 |
|
|
TOTAL BORROWING |
|
|
162.912 |
|
|
DEFERRED TAX LIABILITIES |
|
|
2.186 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
370.694 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
77.445 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.035 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
104.970
|
|
|
Sundry Debtors |
|
|
132.950
|
|
|
Cash & Bank Balances |
|
|
2.208
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
136.702
|
|
Total
Current Assets |
|
|
376.83 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
6.217
|
|
|
Other Current Liabilities |
|
|
0.804
|
|
|
Provisions |
|
|
76.595
|
|
Total
Current Liabilities |
|
|
83.616 |
|
|
Net Current Assets |
|
|
293.214 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
370.694 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||||||
|
|
SALES |
|
|
|
||||||
|
|
Income |
|
|
|
||||||
|
|
Other Income |
|
|
|
||||||
|
|
TOTAL |
628.016 |
633.423 |
513.518 |
||||||
|
|
|
|
|
|
||||||
|
|
EXPENSES |
|
|
|
||||||
|
|
Office
Expenses |
|
|
|
||||||
|
|
Administrative
Expenses |
|
|
|
||||||
|
|
Advertising Expenses |
|
|
|
||||||
|
|
TOTAL EXPENSES |
618.074 |
579.197 (Including
prior period expense) |
418.202 (Including
prior period expense) |
||||||
|
|
|
|
|
|
||||||
|
|
PROFIT BEFORE
TAX |
NA |
54.226 |
95.316 |
||||||
|
|
|
|
|
|
||||||
|
|
TAX |
NA |
18.004 |
33.532 |
||||||
|
|
|
|
|
|
||||||
|
|
PROFIT AFTER TAX
|
28.336 |
36.222 |
61.784 |
||||||
|
|
|
|
|
|
||||||
|
|
PROFIT/ (LOSS)
CARRIED TO BALANCE SHEET |
28.336 |
36.222 |
60.686 |
|
|||||
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|
|
||||||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||||||
|
|
|
Export Sales |
NA |
21.607 |
14.367 |
|||||
|
|
TOTAL EARNINGS |
NA |
21.607 |
14.367 |
||||||
|
|
|
|
|
|
||||||
|
|
IMPORTS |
|
|
|
||||||
|
|
|
Raw Materials |
NA |
84.046 |
17.801 |
|||||
|
|
TOTAL IMPORTS |
NA |
84.046 |
17.801 |
||||||
|
|
|
|
|
|
||||||
|
|
Earnings Per
Share (Rs.) |
8.40 |
60.58 |
103.00 |
||||||
%20METAL%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20233113%2026-Aug-2013_files/image001.gif){kind=small}
%20METAL%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20233113%2026-Aug-2013_files/image002.gif){kind=small}
%20METAL%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20233113%2026-Aug-2013_files/image003.gif){kind=small}
%20METAL%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20233113%2026-Aug-2013_files/image004.gif){kind=small}
%20METAL%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20233113%2026-Aug-2013_files/image005.gif){kind=small}
%20METAL%20INDUSTRIES%20PRIVATE%20LIMITED%20-%20233113%2026-Aug-2013_files/image006.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.51
|
5.72 |
12.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
11.64 |
20.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.22 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.65
|
0.65 |
1.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.30
|
3.68 |
4.51 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
No |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
CHARGE HOLDER |
ADDRESS |
Service Request
Number (SRN) |
|
1 |
10274483 |
10/03/2011 |
28,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX,
BANDRA (E), MUMBAI, MAHARASHTRA |
B08570285 |
|
2 |
10274204 |
10/02/2011 |
15,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME -DADAR BRANCH POPATLAL NIWAS, 1ST FLOOR, RANADE ROAD DADAR (WEST),
MUMBAI, MAHARASHTRA - 400028, INDIA |
B08160020 |
|
3 |
10233790 |
29/06/2010 |
71,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
WORLI BRANCH, KANCHWALA BUILDING, OLD POST OFFICE ROAD, DR. A.B. ROAD,
WORLI, MUMBAI, MAHARASHTRA- 400030, INDIA |
A89070858 |
|
4 |
10225627 |
14/05/2010 |
24,000,000.00 |
THE SARASWATH CO-OPERATIVE BANK LIMITED |
WORLI BRANCH, KANCHWALA BUILDING, OLD POST OFFICE ROAD, DR. A B RD,
WORLI, MUMBAI, MAHARASHTRA - 400030, INDIA |
A87891503 |
|
5 |
10213441 |
31/03/2010 |
10,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
WORIL BRANCH, KANCHWALA BLDG, DR ANNIE BEASANT RD, |
A83701334 |
|
6 |
10180777 |
30/06/2011 * |
28,000,000.00 |
CITIBANK N. A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BANDRA KURLA COMPLEX,
BANDRA (EAST), MUMBAI, MAHARASHTRA |
B16583627 |
|
7 |
80040941 |
04/01/2008 * |
35,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED. |
KANCHWALA BUILDING, OPP. OLD PASSPORT OFFICE, DR. A. B. ROAD WORLI,
MUMBAI, MAHARASHTRA-400030, INDIA |
A32211138 |
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
340 redeemable discount bonds redeemable on 30.06.2016 of Rs.0.750
Million (net of unamortized discount) |
131.351 |
113.234 |
|
Short-term
borrowings |
|
|
|
Loan and advance
from related parties |
|
|
|
From Director |
|
|
|
Bhailal R Gada |
19.484 |
14.330 |
|
Navin R Gada |
10.247 |
15.212 |
|
From
Shareholders |
|
|
|
Leena R Gada |
9.317 |
7.667 |
|
Rita B Gada |
4.545 |
5.145 |
|
Other Related
Parties |
|
|
|
BR Gada HUF |
0.175 |
0.175 |
|
Raanshi V Gada HUF |
0.000 |
0.905 |
|
Navin R Gada HUF |
0.595 |
0.594 |
|
Other Than related Parties |
|
|
|
Dhanbhai Bhanji Gala |
0.515 |
0.515 |
|
Total |
176.229 |
157.777 |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Company has given a bank guarantee to the
company under the same management |
28.000 |
|
Fixed Deposit of Rs.45.000 Millions has been
mortgage against loan taken by company under the same management |
30.000 |
FIXED ASSETS:
v Land
v Industrial Premises
v Office Premises
v Building
v Plant and Machinery
v Electrical Installation
v Dies
v Design and Drawings
v Technical Knowhow
v Marketing Network
v Goodwill
v Furniture at display centre
v Furniture and Fixtures
v Vehicles
v Xerox Machine
v Miscellaneous Equipments
v Spares
v Fax
v Computers
v Air Condition
v Air Condition (D C)
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.64.69 |
|
|
1 |
Rs.100.80 |
|
Euro |
1 |
Rs.86.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
NAY |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--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 |
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 |
|
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.