|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
SULPHUR MILLS LIMITED |
|
|
|
|
Registered
Office : |
604 / 605, 6th Floor, 349 Business Point, Western Express Highway,
Andheri (East), Mumbai – 400069, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
08.07.1960 |
|
|
|
|
Com. Reg. No.: |
11-011752 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.761 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1960PLC011752 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35159F / MUMS36288A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS8736K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sulphur and its formulations and Other Pesticides. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track record. The rating reflect SML’s strong financial risk profile, marked by
healthy capital structure and liquidity, and robust debt protection metrics. The rating also factor in SML’s established position in the niche
sulphur-based agricultural (agro) chemical segment and successful
diversification in the sulphur-based fertilizer market. Trade relations are fair. Business is active. Payment terms are
regular. 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : A+ |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
February 6, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
February 6, 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
|
Name : |
Mr. Sapna |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-43452222 |
|
Date : |
09.12.2013 |
LOCATIONS
|
Registered/ Head Office : |
404/405, 604 / 605, 6th Floor, 349 Business Point, Western Express
Highway, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-43452222 |
|
Fax No.: |
91-22-43452245 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
303 / 304, T. V. Estate, S. K. Ahire Marg, Worli, P. O. Box. No.
19176, Mumbai – 400025, Maharashtra,
India |
|
Tel. No.: |
91-22-24932026/ 24937685/ 24938936 |
|
Fax No.: |
91-22-24939586 |
|
E-Mail : |
|
|
|
|
|
Factory : |
M.I.D.C., Plot No. 8, Turbhe Naka, Thane – Belapur Road, Navi Mumbai,
Maharashtra, India |
|
Tel No.: |
91-22-27681513 |
|
|
|
|
Branch Office 1: |
309, Meghdoot, Nehru Place, New Delhi – 110019, India |
|
|
|
|
Branch Office 2: |
1/8/144, Prenderghast Road, P. B. No. 2009, Secunderabad – 500003,
Andhra Pradesh, India |
|
|
|
|
Branch Office 3: |
541, N.S.R. Road, Saibaba Colony, Coimbatore - 641011, Tamilnadu, India |
DIRECTORS
As on: 26.09.2013
|
Name : |
Mr. Deepak Pranjivandas Shah |
|
Designation : |
Managing director |
|
Address : |
501, Vandana
Apartment, Janki Kutir Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1947 |
|
Qualification : |
B.S (MECH.ENGG.) USA |
|
Date of Appointment : |
01.10.1976 |
|
DIN No.: |
00864335 |
|
|
|
|
Name : |
Mr. Suketu Chandrakant Doshi |
|
Designation : |
Whole-time director |
|
Address : |
Sneha Kutir,
Near Cadbury House, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1957 |
|
Qualification : |
P. Pharma |
|
Date of Appointment : |
01.04.1985 |
|
DIN No.: |
00639815 |
|
|
|
|
Name : |
Mrs. Shilpa Deepak Shah |
|
Designation : |
Whole-time director |
|
Address : |
501, Vandana Apartment,
Janki Kutir Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
30.11.1947 |
|
Qualification : |
M.A (Economics) USA |
|
Date of Appointment : |
31.12.1996 |
|
DIN No.: |
00639833 |
|
|
|
|
Name : |
Binoy Shailesh Shah |
|
Designation : |
Whole-time director |
|
Address : |
Shanti Kutir,
Next To Citien Hotel, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1969 |
|
Qualification : |
B.E (Electronics) USA, MBA-AGRI Finance |
|
Date of Appointment : |
31.12.1996 |
|
DIN No.: |
00679812 |
|
|
|
|
Name : |
Bimal Deepak Shah |
|
Designation : |
Whole-time director |
|
Address : |
501, Vandana
Apartment, Janki Kutir Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1979 |
|
Qualification : |
B.S (Chemistry, Agriculture) USA, M.S (Plant/ Soil Science) USA |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AELPS3417A |
|
DIN No.: |
00506415 |
|
|
|
|
Name : |
Mrs. Komal N. Bhukhanwala |
|
Designation : |
Whole-time director |
|
Address : |
501, Vandana Aptment, Janki Kutir Juhu, Mumbai - 400 049, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1977 |
|
Date of Appointment : |
01.03.2013 |
|
PAN No.: |
AAVPS2577H |
|
DIN No.: |
01619650 |
KEY EXECUTIVES
|
Name : |
Mr. Sapna |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.09.2013
SHAREHOLDERS DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
83.69 |
|
Other |
|
16.31 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sulphur and its formulations and Other Pesticides. |
||||||||
|
|
|
||||||||
|
Products/ Services : |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Finished Goods |
||||||||
|
Countries : |
· Europe |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
|
Countries : |
· Europe USA |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
L/C and Credit (30 days) |
||||||||
|
|
|
||||||||
|
Purchasing : |
L/C and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Bank of India, Turbhe Branch, Plot No 34, Sector 24, Turbhe, Mumbai - 400705, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. D. Jokhakar and Company Chartered Accountants |
|
Address : |
2nd Floor, Raja Bahadur, Mansion 8, Ambalal
Doshi Marg, Fort, Mumbai, Maharashtra, India |
|
PAN No.: |
AADFB1729J |
|
|
|
|
Subsidiary : |
Sulphur Chemicals Mills (Pty) Limited |
|
|
|
|
Associate: |
· Innovar Consultancy Private Limited U74100MH2005PTC153844 · Sumil Chemical Industries Private Limited U24110MH1984PTC034472 · SM Crop Care Bio-Tech Private Limited U24200MH2005PTC155325 |
CAPITAL STRUCTURE
As on: 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 390.000 Millions |
|
100,000 |
Preference Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
176,005 |
Equity Shares |
Rs. 10/- each |
Rs. 1.761
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 |
1.761 |
1.859 |
1.859 |
|
(b) Reserves & Surplus |
1771.282 |
1664.419 |
1331.443 |
|
(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) |
1773.043 |
1666.278 |
1333.302 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
38.914 |
32.158 |
27.881 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.590 |
1.124 |
0.793 |
|
Total Non-current
Liabilities (3) |
40.504 |
33.282 |
28.674 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
22.027 |
210.868 |
80.987 |
|
(b)
Trade payables |
912.307 |
698.195 |
565.365 |
|
(c)
Other current liabilities |
210.050 |
124.403 |
103.376 |
|
(d) Short-term
provisions |
250.979 |
64.224 |
79.579 |
|
Total Current
Liabilities (4) |
1395.363 |
1097.690 |
829.307 |
|
|
|
|
|
|
TOTAL |
3208.910 |
2797.250 |
2191.283 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
88.781 |
50.680 |
52.578 |
|
(ii)
Intangible Assets |
104.481 |
73.787 |
61.753 |
|
(iii)
Capital work-in-progress |
249.208 |
182.147 |
77.186 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
237.439 |
229.721 |
214.317 |
|
(c) Deferred tax
assets (net) |
10.893 |
8.526 |
7.366 |
|
(d) Long-term Loan and Advances |
117.415 |
110.064 |
68.955 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
808.217 |
654.925 |
482.155 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
584.036 |
487.641 |
459.638 |
|
(c)
Trade receivables |
1079.598 |
827.861 |
663.260 |
|
(d) Cash
and cash equivalents |
710.546 |
804.193 |
566.586 |
|
(e)
Short-term loans and advances |
26.513 |
22.630 |
19.644 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
2400.693 |
2142.325 |
1709.128 |
|
|
|
|
|
|
TOTAL |
3208.910 |
2797.250 |
2191.283 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.3013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3494.431 |
3274.756 |
2071.181 |
|
|
|
Other Income |
95.655 |
112.481 |
70.575 |
|
|
|
TOTAL (A) |
3590.086 |
3387.237 |
2141.756 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1366.643 |
1402.634 |
746.689 |
|
|
|
Purchases of stock-in-trade |
780.052 |
723.374 |
708.071 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
11.941 |
(38.887) |
(133.974) |
|
|
|
Employee benefit expense |
168.076 |
100.071 |
75.946 |
|
|
|
Other expenses |
667.251 |
596.057 |
434.491 |
|
|
|
TOTAL (B) |
2993.963 |
2783.249 |
1831.223 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
596.123 |
603.988 |
310.533 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.741 |
14.974 |
6.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
586.382 |
589.014 |
303.988 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
45.593 |
28.986 |
25.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
540.789 |
560.028 |
278.812 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
190.131 |
183.840 |
95.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
350.658 |
376.188 |
183.694 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
7.952 |
14.976 |
14.637 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
3.577 |
383.212 |
183.355 |
|
|
|
BALANCE CARRIED
TO THE B/S |
355.033 |
7.952
|
14.976 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1589.266 |
697.519 |
|
|
|
Other Earnings |
NA |
0.000 |
6.572 |
|
|
TOTAL EARNINGS |
NA |
1589.266 |
704.091 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
730.919 |
269.709 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1992 |
2024 |
988 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.3013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
9.77 |
11.11 |
8.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.48 |
17.10 |
13.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
19.95 |
23.56 |
14.73 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.33 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03 |
0.15 |
0.08 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72 |
1.95 |
2.07 |
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) |
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 |
OPERATIONS AND
OUTLOOK
Gross Turnover during the year is Rs. 3568.400 millions as against previous year Rs. 3309.200 millions, (increase of 7.83%). Turnover increased by 7.83%. However, the Board of Directors wish that the Company will make more efforts in coming years to tap the sizeable potential for the growth.
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Deposits from directors |
2.520 |
2.520 |
|
Deposits from shareholders |
1.210 |
1.210 |
|
Public deposits |
0.200 |
0.200 |
|
Deposits from others |
34.984 |
28.228 |
|
|
|
|
|
Total |
38.914 |
32.158 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
90243522 |
31/05/2001 |
67,000,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
2 |
90243213 |
17/11/1994 |
2,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
3 |
90243211 |
17/11/1994 * |
2,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
4 |
90239557 |
17/11/1990 |
5,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
5 |
90243043 |
08/01/1990 * |
3,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
6 |
90242940 |
16/09/1988 * |
1,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
7 |
90242923 |
13/09/1989 * |
800,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
8 |
90239073 |
22/12/2006 * |
500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
9 |
90242916 |
22/12/1986 * |
800,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
10 |
90238804 |
15/11/1984 * |
920,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
11 |
90242855 |
02/05/1969 |
500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
· Land
· Building
· Office building
· Factory building
· Plant and machinery
· Office equipments
· Factory equipments
· Computer equipments
· Other equipments
· Furniture and fixtures
· Vehicles
· Leasehold properties
· Computer software
· Knowhow
· Patents trademarks design
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. 61.21 |
|
|
1 |
Rs. 100.65 |
|
Euro |
1 |
Rs. 84.15 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
8 |
|
--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 |
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 |
|
57 |
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.