1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SPICA ELASTIC PRIVATE LIMITED |
Principal Name 1 |
Mr. Rajnikant C. Jaitha |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Manish Rajnikant Jaitha |
|
|
|
Registration # |
11-021712 |
|
Street Address |
477, Chandra Chowk, 3rd Lane, Seth Mooljee Jaitha Cloth
Market, Sheikh, Mumbai – 400002, Maharashtra |
||
|
Established Date |
25.09.1979 |
SIC Code |
-- |
|
Telephone# |
91-22-65844180 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-66547854 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Narrow Woven Fabrics |
|
|
# of employees |
Not Available |
Product Name 2 |
Narrow Knitted Fabrics |
|
Paid up capital |
Rs.46,129,000/-
|
Product Name 3 |
-- |
|
Shareholders |
Directors
or relatives of directors |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
34 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (44) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates
/ Subsidiaries |
-- |
Spica Elastic
Vietnam Company Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
486,670,000 |
Current Liabilities |
18,905,000 |
|
Inventories |
76,420,000 |
Long-term Liabilities |
184,062,000 |
|
Fixed Assets |
261,706,000 |
Other Liabilities |
136,909,000 |
|
Deferred Assets |
000 |
Total Liabilities |
339,876,000 |
|
Invest& other Assets |
28,331,000 |
Retained Earnings |
467,122,000 |
|
|
|
Net Worth |
513,251,000 |
|
Total Assets |
853,127,000 |
Total Liab. & Equity |
853,127,000 |
|
Total Assets (Previous Year) |
827,210,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales/ Total Income |
794,824,000 |
Net Profit |
55,582,000 |
|
Sales(Previous yr)/ Total Income |
732,698,000 |
Net Profit(Prev.yr) |
72,068,000 |
|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SPICA ELASTIC PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
477, Chandra Chowk, 3rd Lane, Seth Mooljee Jaitha Cloth
Market, Sheikh, Mumbai – 400002, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.09.1979 |
|
|
|
|
Com. Reg. No.: |
11-021712 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.46.129
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17236MH1979PTC021712 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS39893A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS6153K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of
Narrow Woven Fabrics and Narrow Knitted Fabrics. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2053000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record.
There appears some dip in profit of the company in 2012-13. However, overall financial of the company appears to be decent. Trade relation
reported to be fair. Business is active. Payment terms are reported to be
slow but 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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says
the latest India Development Update report released by the World Bank. The
report says that the adverse effects of rupee depreciation are likely to be
offset by the gains in the exports performance due to improved external
competitiveness. Since May this year, the local currency has depreciated
substantially and fell to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated number
of jobs created during the second quarter of the current financial year. 50000
estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
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 : |
477, Chandra Chowk, 3rd Lane, Seth Mooljee Jaitha Cloth
Market, Sheikh, Mumbai – 400002, Maharashtra, India |
|
Tel. No.: |
91-22-65844180 |
|
Fax No.: |
91-22-66547854 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
22/2, Hadapsar Industrial Estate, Pune – 411013, |
|
Tel. No.: |
91-20-26870051 |
|
Fax No.: |
91-20-26872212 |
DIRECTORS
AS ON 29.06.2013
|
Name : |
Mr. Rajnikant C. Jaitha |
|
Designation : |
Director |
|
Address : |
Krishnakunj, 10, |
|
Date of Birth/Age : |
05.07.1941 |
|
Date of Appointment : |
15.10.1979 |
|
Election Commission Identity Card No.: |
MT42250447494 |
|
DIN No.: |
00027802 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U70101MH1871PTC000004 |
NEW PIECE-GOODS
BAZAR COMPANY LIMITED |
Director |
23-04-63 |
23-04-63 |
- |
Active |
NO |
|
2 |
U17236MH1979PTC021712 |
SPICA ELASTIC
PRIVATE LIMITED |
Director |
01-04-07 |
15-10-79 |
- |
Active |
NO |
|
3 |
U36991GA2005PTC004070 |
SONATAPES
PRIVATE LIMITED |
Director |
03-03-80 |
03-03-80 |
- |
Active |
NO |
|
4 |
L45400MH1981PLC025151 |
KRISHNA VENTURES
LIMITED |
Director |
06-11-82 |
06-11-82 |
29-05-10 |
Active |
NO |
|
5 |
U17297MH1981PTC025071 |
AMIJAY LABELS
PRIVATE LIMITED |
Director |
21-04-93 |
21-04-93 |
- |
Amalgamated |
NO |
|
6 |
U17120MH1981PTC025010 |
APEX ELASTIC
PROCESSORS PRIVATE LIMITED |
Director |
27-03-00 |
27-03-00 |
- |
Strike off |
NO |
|
7 |
U25199MH2002PTC135305 |
LEO TAPES
PRIVATE LIMITED |
Director |
27-03-02 |
27-03-02 |
- |
Strike off |
NO |
|
8 |
U25199MH2002PTC135304 |
JAITHA AND SONS
ELASTIC PRIVATE LIMITED |
Director |
27-03-02 |
27-03-02 |
- |
Strike off
|
|
|
Name : |
Mr. Manish Rajnikant Jaitha |
|
Designation : |
Director |
|
Address : |
Krishnakunj, 10, |
|
Date of Birth/Age : |
20.06.1967 |
|
Date of Appointment : |
20.06.1988 |
|
Election Commission Identity Card No.: |
MT42250447624 |
|
DIN No.: |
00026101 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
L45400MH1981PLC025151 |
KRISHNA VENTURES
LIMITED |
Director |
20-06-88 |
20-06-88 |
29-05-10 |
Active |
NO |
|
2 |
U36991GA2005PTC004070 |
SONATAPES
PRIVATE LIMITED |
Director |
20-06-88 |
20-06-88 |
- |
Active |
NO |
|
3 |
U17236MH1979PTC021712 |
SPICA ELASTIC
PRIVATE LIMITED |
Managing
director |
01-04-07 |
20-06-88 |
- |
Active |
NO |
|
4 |
U17297MH1981PTC025071 |
AMIJAY LABELS
PRIVATE LIMITED |
Director |
26-03-93 |
26-03-93 |
- |
Amalgamated |
NO |
|
5 |
U17120MH1981PTC025010 |
APEX ELASTIC
PROCESSORS PRIVATE LIMITED |
Director |
27-03-00 |
27-03-00 |
- |
Strike off |
NO |
|
6 |
U25199MH2002PTC135305 |
LEO TAPES
PRIVATE LIMITED |
Director |
27-03-02 |
27-03-02 |
- |
Strike off |
NO |
|
7 |
U25199MH2002PTC135304 |
JAITHA AND SONS
ELASTIC PRIVATE LIMITED |
Director |
27-03-02 |
27-03-02 |
- |
Strike off |
NO |
|
8 |
U70101MH1871PTC000004 |
NEW PIECE-GOODS
BAZAR COMPANY LIMITED |
Director |
01-09-06 |
01-09-06 |
23-02-11 |
Active |
NO |
|
9 |
U51900MH1997PTC109525 |
DEMA ENTERPRISES
PRIVATE LIMITED |
Director |
28-12-06 |
28-12-06 |
- |
Strike off |
NO |
|
Name : |
Mr. Sanjay Krishnakant Jaitha |
|
Designation : |
Director |
|
Address : |
Krishnakunj, 10, |
|
Date of Birth/Age : |
04.04.1964 |
|
Date of Appointment : |
04.04.1985 |
|
Election Commission Identity Card No.: |
MT42250447212 |
|
DIN No.: |
01083901 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U17236MH1979PTC021712 |
SPICA ELASTIC
PRIVATE LIMITED |
Director |
04-04-85 |
04-04-85 |
- |
Active |
NO |
|
2 |
U36991GA2005PTC004070 |
SONATAPES
PRIVATE LIMITED |
Director |
04-04-85 |
04-04-85 |
- |
Active |
NO |
|
3 |
L45400MH1981PLC025151 |
KRISHNA VENTURES
LIMITED |
Director |
29-06-85 |
29-06-85 |
29-05-10 |
Active |
NO |
|
4 |
U17297MH1981PTC025071 |
AMIJAY LABELS
PRIVATE LIMITED |
Director |
26-03-93 |
26-03-93 |
- |
Amalgamated |
NO |
|
5 |
U17120MH1981PTC025010 |
APEX ELASTIC
PROCESSORS PRIVATE LIMITED |
Director |
27-03-00 |
27-03-00 |
- |
Strike off |
NO |
|
6 |
U70101MH1871PTC000004 |
NEW PIECE-GOODS
BAZAR COMPANY LIMITED |
Nominee director |
23-02-11 |
23-02-11 |
- |
Active |
NO |
|
Name : |
Mr. Amish Rajnikant Jaitha |
|
Designation : |
Director |
|
Address : |
10, |
|
Date of Birth/Age : |
06.11.1976 |
|
Date of Appointment : |
16.11.1997 |
|
Election Commission Identity Card No.: |
MT42250447785 |
|
DIN No.: |
00026113 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U17297MH1981PTC025071 |
AMIJAY LABELS
PRIVATE LIMITED |
Director |
06-11-97 |
06-11-97 |
Amalgamated |
NO |
|
2 |
U17236MH1979PTC021712 |
SPICA ELASTIC
PRIVATE LIMITED |
Director |
16-11-97 |
16-11-97 |
Active |
NO |
|
3 |
U36991GA2005PTC004070 |
SONATAPES
PRIVATE LIMITED |
Managing
director |
08-03-99 |
08-03-99 |
Active |
NO |
|
4 |
U17120MH1981PTC025010 |
APEX ELASTIC
PROCESSORS PRIVATE LIMITED |
Director |
27-03-00 |
27-03-00 |
Strike off |
NO |
|
5 |
U25199MH2002PTC135304 |
JAITHA AND SONS
ELASTIC PRIVATE LIMITED |
Director |
27-03-02 |
27-03-02 |
Strike off |
NO |
|
6 |
U25199MH2002PTC135305 |
LEO TAPES PRIVATE
LIMITED |
Director |
27-03-02 |
27-03-02 |
Strike off |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.06.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajnikant .C. Jaitha |
|
44773 |
|
Sanjay Krishnakant Jaitha |
|
40052 |
|
Manish Rajnikant Jaitha |
|
85152 |
|
Amish R. Jaitha |
|
78560 |
|
Rajnikant .C. Jaitha (HUF) |
|
34625 |
|
Krishnakant. C. Jaitha |
|
54599 |
|
Asha Rajnikant Jaitha |
|
21380 |
|
Nina Sanjay Jaitha |
|
32449 |
|
Manisha Manish Jaitha |
|
9093 |
|
Anuradha Krishnakant Jaitha |
|
12949 |
|
Rohan Manish Jaitha |
|
5443 |
|
Gaurav Manish Jaitha |
|
5443 |
|
Arjun Sanjay Jaitha |
|
13699 |
|
Rajnikant .C. Jaitha (HUF) |
|
1 |
|
Saloni Amish Jaitha |
|
23070 |
|
|
|
|
|
TOTAL
|
|
461288 |
AS ON 29.06.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of
Narrow Woven Fabrics and Narrow Knitted Fabrics. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Installed
Capacity |
|
Looms |
125 Looms |
|
Crochet Machines |
19 Crochet
Machines |
|
Particulars |
Actual
Production |
|
Elastic Tapes |
184.748 Mtrs |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
·
The Saraswat Co-operative Bank Limited, C-2,
Kohinoor Estate Co-operative Housing Society, Plot No. 12, Mula road,
Sangamwadi., Pune - 411003, Maharashtra, India ·
Bank of India, Pune Corporate Banking Branch,
Shivajinagar, Pune, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. S. Mehta and Company Chartered Accountants |
|
Address : |
11/13, |
|
Tel. No.: |
91-2266 1255/ 2266
0275 I 2266 5275 / 2266 0821 I
2266 1557 |
|
PAN No: |
AAAFB1403A |
|
|
|
|
Associates / Subsidiaries : |
·
Spica Elastic Vietnam Company Limited ·
Deneb Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.100/- each |
Rs.50.000 Millions |
|
200000 |
Preferences Shares |
Rs.100/- each |
Rs.20.000 Millions |
|
|
TOTAL
|
|
Rs.70.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
461288 |
Equity Shares |
Rs.100/- each |
Rs.46.129
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
46.129 |
59.229 |
58.090 |
|
(b) Reserves & Surplus |
467.122 |
414.336 |
251.090 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
513.251 |
473.565 |
309.180 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
135.600 |
119.750 |
235.187 |
|
(b) Deferred tax liabilities (Net) |
0.794 |
3.635 |
6.898 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
136.394 |
123.385 |
242.085 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
48.462 |
45.588 |
100.305 |
|
(b)
Trade payables |
15.360 |
7.233 |
34.216 |
|
(c) Other
current liabilities |
3.545 |
4.360 |
0.196 |
|
(d) Short-term
provisions |
136.115 |
173.079 |
132.263 |
|
Total Current
Liabilities (4) |
203.482 |
230.260 |
266.980 |
|
|
|
|
|
|
TOTAL |
853.127 |
827.210 |
818.245 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
261.706 |
273.422 |
218.567 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
28.331 |
14.089 |
14.089 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
257.186 |
213.464 |
175.338 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
547.223 |
500.975 |
407.994 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
76.420 |
81.663 |
139.090 |
|
(c)
Trade receivables |
105.773 |
85.386 |
158.759 |
|
(d) Cash
and cash equivalents |
0.597 |
18.010 |
0.070 |
|
(e)
Short-term loans and advances |
121.590 |
141.120 |
112.332 |
|
(f) Other
current assets |
1.524 |
0.056 |
0.000 |
|
Total
Current Assets |
305.904 |
326.235 |
410.251 |
|
|
|
|
|
|
TOTAL |
853.127 |
827.210 |
818.245 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
794.824 |
732.698 |
1045.860 |
|
|
|
Other Income |
86.792 |
90.773 |
68.719 |
|
|
|
TOTAL |
881.616 |
823.471 |
1114.579 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
764.754 |
680.152 |
935.487 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
116.862 |
143.319 |
179.092 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
34.756 |
35.805 |
37.885 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
82.106 |
107.514 |
141.207 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
26.524 |
35.446 |
47.624 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
55.582 |
72.068 |
93.583 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
320.617 |
250.406 |
158.432 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Redemption of Preference shares |
13.100 |
0.000 |
0.000 |
|
|
|
Dividend on
preference shares including corporate dividend tax |
1.419 |
1.609 |
1.609 |
|
|
|
Losses of Amijay Labels Private Limited |
0.000 |
0.247 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
361.680 |
320.618 |
250.406 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
117.92 |
155.90 |
204.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.30
|
8.75 |
8.40 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.33
|
14.67 |
13.50 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.95
|
13.22 |
17.55 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.23 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.35
|
0.35 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.50
|
1.42 |
1.54 |
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 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
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 |
10256907 |
26/07/2012 * |
162,699,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
C-2, KOHINOOR
ESTATE CO-OPERATIVE HOUSING SOCIETY, |
B56649213 |
|
2 |
10256910 |
26/07/2012 * |
140,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
C-2, KOHINOOR
ESTATE CO-OPERATIVE HOUSING SOCIETY, |
B56640717 |
|
3 |
10198589 |
13/01/2010 |
10,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
C-2, KOHINOOR
ESTATE CO-OPERATIVE HOUSING SOCIETY, |
A77961480 |
|
4 |
80008478 |
26/07/2012 * |
205,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
C-2, KOHINOOR ESTATE
CO-OPERATIVE HOUSING SOCIETY, |
B56646060 |
|
* Date of charge modification |
||||||
OPERATIONS:
The Company’s turnover
of Rs. 794.824 Millions inclusive of exports of Rs. 597.994 Millions for the
year under report shown an increase of 8% over the turnover of the previous
year. However, the profit for the year has been decreased by Rs. 16.495
Millions over the previous year, inter-alia, mainly due to increase in cost of
inputs.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Deposit From Directors |
39.500 |
68.200 |
|
Deposits From Shareholders |
94.900 |
48.350 |
|
Deposits From Others |
1.200 |
3.200 |
|
TOTAL
|
135.600 |
119.750 |
FIXED ASSETS:
·
Factory Land
·
Factory Building
·
Plant and Machinery
·
Office Equipment’s
·
Computer and other Equipment’s
·
Furniture and Fixtures
·
Vehicles
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.62.39 |
|
|
1 |
Rs.102.05 |
|
Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.