MIRA
INFORM REPORT
|
Report Date : |
21.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
LASONS INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
8, New Jagruti, 227, S V Road, Bandra (West), Mumbai-400050,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
09.10.1979 |
|
|
|
|
Com. Reg. No.: |
11-021757 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.150 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27104MH1979PTC021757 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Supplier and Exporter of
nicotinic acid, diluted nitric acid, nicotnic acid, nicotinic acid technical
grade, nicotinic acid usp, niacin icotinic acid technical grade and more |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 670000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Management has failed to file its latest financial of 2013 with
government department. There appears drastic dip in profit of the company in 2012. External
borrowing of the company has increased. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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
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 |
BB+ (Long Term Rating) |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
10.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term Rating) |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
10.10.2013 |
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.
LOCATIONS
|
Registered Office : |
8, New Jagruti, 227, S V Road, Bandra (West), Mumbai-400050,
Maharashtra, India |
|
Tel. No.: |
91-22-26441728 / 29 / 26428339 / 26434396 |
|
Fax No.: |
91-22-26428131 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Pravin Shyamlal Aggarwal |
|
Designation : |
Director |
|
Date of Appointment : |
24.12.1980 |
|
DIN No.: |
00404735 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27104MH1979PTC021757 |
LASONS INDIA
PRIVATE LIMITED |
Director |
24/12/1980 |
24/12/1980 |
Active |
NO |
|
2 |
U70102MH2010PTC211041 |
IGA ESTATE
PRIVATE LIMITED |
Director |
16/12/2010 |
16/12/2010 |
Active |
NO |
|
3 |
U70102MH2010PTC211699 |
NGP ESTATE
PRIVATE LIMITED |
Director |
31/12/2010 |
31/12/2010 |
Active |
NO |
|
Name : |
Mr. Gaurav Pravin Aggarwal |
|
Designation : |
Director |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
01645942 |
Other Directorship:
|
S.
No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U27104MH1979PTC021757 |
LASONS INDIA
PRIVATE LIMITED |
Director |
01/10/2006 |
01/10/2006 |
Active |
NO |
|
2 |
U70102MH2010PTC211041 |
IGA ESTATE
PRIVATE LIMITED |
Director |
16/12/2010 |
16/12/2010 |
Active |
NO |
|
3 |
U70102MH2010PTC211699 |
NGP ESTATE
PRIVATE LIMITED |
Director |
31/12/2010 |
31/12/2010 |
Active |
NO |
|
Name : |
Mr. Nevin Pravin Aggarwal |
|
Designation : |
Director |
|
Date of Appointment : |
01.10.2006 |
|
DIN No.: |
01645956 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 28.09.2012
|
Names of Shareholders |
No. of Shares |
|
Gaurav Aggarwal |
71400 |
|
Nevin Aggarwal |
71400 |
|
Pravin Aggarwal HUF |
70650 |
|
Pravin Aggarwal and Savita Aggarwal |
56600 |
|
Pravin Aggarwal |
224450 |
|
Savita Aggarwal |
320500 |
|
TOTAL
|
815000 |
AS ON 28.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Supplier and Exporter of
nicotinic acid, diluted nitric acid, nicotnic acid, nicotinic acid technical grade,
nicotinic acid usp, niacin icotinic acid technical grade and more |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
31.03.2011 |
|
Installed Capacity |
MT |
2800 |
|
|
|
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Union Bank of India – Lead Bank of UBI
Consortium, Mumbai Samachar Marg Branch, 66/80, Mumbai Samachar Marg, Fort, Mumbai-400023,
Maharashtra, India |
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N K J and Company Chartered Accountant |
|
Address : |
A-402 Rajeshri
Accord, Teli Gali Cross Road, Andheri-East, Mumbai, Maharashtra, India |
|
PAN No.: |
AABFN5388D |
|
|
|
|
Subsidiaries : |
Tiaan Vitamins Inc |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
815000 |
Equity Shares |
Rs.10/- each |
Rs. 8.150
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 |
|
8.150 |
8.150 |
|
(b) Reserves & Surplus |
|
160.554 |
156.572 |
|
(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) |
|
168.704 |
164.722 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
213.477 |
31.995 |
|
(b) Deferred tax liabilities (Net) |
|
4.931 |
5.996 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
218.408 |
37.991 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
223.069 |
227.414 |
|
(b) Trade payables |
|
153.278 |
106.339 |
|
(c) Other current
liabilities |
|
52.564 |
80.155 |
|
(d) Short-term provisions |
|
2.198 |
12.550 |
|
Total Current Liabilities (4) |
|
431.109 |
426.458 |
|
|
|
|
|
|
TOTAL |
|
818.221 |
629.171 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
194.252 |
171.551 |
|
(ii) Intangible Assets |
|
0.626 |
0.787 |
|
(iii) Capital
work-in-progress |
|
139.626 |
20.927 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
15.453 |
15.453 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
14.043 |
13.963 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
364.000 |
222.681 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
149.054 |
135.544 |
|
(c) Trade receivables |
|
237.779 |
212.962 |
|
(d) Cash and cash
equivalents |
|
11.717 |
13.767 |
|
(e) Short-term loans and
advances |
|
13.361 |
27.901 |
|
(f) Other current assets |
|
42.310 |
16.316 |
|
Total Current Assets |
|
454.221 |
406.490 |
|
|
|
|
|
|
TOTAL |
|
818.221 |
629.171 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
8.150 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
132.055 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
140.205 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
230.890 |
|
|
2] Unsecured Loans |
|
|
4.920 |
|
|
TOTAL BORROWING |
|
|
235.810 |
|
|
DEFERRED TAX LIABILITIES |
|
|
6.739 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
382.754 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
150.130 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
15.813 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
118.157 |
|
|
Sundry Debtors |
|
|
165.098 |
|
|
Cash & Bank Balances |
|
|
12.452 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
51.664 |
|
Total
Current Assets |
|
|
347.371 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
95.394 |
|
|
Other Current Liabilities |
|
|
4.768 |
|
|
Provisions |
|
|
30.398 |
|
Total
Current Liabilities |
|
|
130.560 |
|
|
Net Current Assets |
|
|
216.811 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
382.754 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
903.609 |
913.517 |
|
|
|
Other Income |
NA |
6.488 |
6.403 |
|
|
|
TOTAL (A) |
NA |
910.097 |
919.920 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumed |
NA |
654.238 |
664.026 |
|
|
|
Administrative and Other Expenses |
|
114.291 |
94.438 |
|
|
|
Personal Expenses |
|
54.163 |
35.446 |
|
|
|
Increase / (Decrease) in Stock |
|
2.190 |
8.169 |
|
|
|
TOTAL (B) |
NA |
824.882 |
802.079 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
85.215 |
117.841 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
18.265 |
19.278 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
39.248 |
66.950 |
98.563 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
34.133 |
30.195 |
25.177 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX (E-F) (G) |
5.115 |
36.755 |
73.386 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.132 |
12.238 |
23.987 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
3.983 |
24.517 |
49.399 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
139.462 |
114.945 |
65.546 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
143.445 |
139.462 |
114.945 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Own Exports |
847.552 |
786.966 |
799.935 |
|
|
|
Indirect Exports |
8.184 |
12.506 |
7.652 |
|
|
TOTAL EARNINGS |
855.736 |
799.472 |
807.587 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
617.814 |
601.217 |
611.430 |
|
|
TOTAL IMPORTS |
617.814 |
60.1.217 |
611.430 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
4.89 |
30.08 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.00
|
2.69 |
5.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.00
|
4.07 |
8.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.77
|
6.20 |
14.75 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.22 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.59
|
1.57 |
1.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
0.95 |
2.66 |
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) |
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Deposits |
70.000 |
0.000 |
|
Loans and advances from related parties |
26.588 |
0.510 |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand from banks |
0.537 |
0.387 |
|
Deposits from others |
0.780 |
1.700 |
|
|
|
|
|
TOTAL |
97.905 |
2.597 |
VIEW INDEX OF
CHARGES
|
S. No |
Charge ID |
Date of Charge Creation /Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN |
|
1 |
10343722 |
24/03/2012 |
21,600,000.00 |
CITIBANK N. A. |
8TH FLOOR, NIRLON KNOWLEDGE PARK, BLOCK
NO.B-7, |
B35640713 |
|
2 |
10319954 |
03/10/2011 |
60,000,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE, CREDIT DEPTT., CENTRAL
BANK BLDG. 3RD FLOOR , M G ROAD, MUMBAI, MAHARASHTRA |
B26208264 |
|
3 |
10232058 |
31/07/2010 |
19,400,000.00 |
CITIBANK N. A. |
CITITOWER, DR. S. S. RAO ROAD, PAREL,
MUMBAI, M |
A90486473 |
|
4 |
10204371 |
19/02/2010 |
105,300,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80,MUMBAI
SAMACHAR MARG,, MUMBAI, MAHARASHTRA - 400023, INDIA |
A80197171 |
|
5 |
10166429 |
26/06/2009 |
7,500,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE, DOCUMENTATION CELL,
CENTRAL BANK BLDG. 2ND FLOOR, FORT, MUMBAI, MAHARASHTRA |
A65530859 |
|
6 |
10146687 |
21/05/2012 * |
460,000,000.00 |
UNION BANK OF INDIA-LEAD BANK OF UBI
CONSORTIUM |
MUMBAI SAMACHAR MARG BRANCH,, 66/80,
MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B41554593 |
|
7 |
10114425 |
20/06/2008 |
30,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A41951401 |
|
8 |
10050175 |
11/06/2007 * |
60,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A16968844 |
|
9 |
10039028 |
11/06/2007 * |
35,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A16967416 |
|
10 |
10050176 |
11/06/2007 * |
45,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH,, 66/80,
MUMBAI SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A16977860 |
|
11 |
10039029 |
11/06/2007 * |
70,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI
SAMACHAR MARG, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
A16968026 |
|
12 |
10039052 |
11/06/2007 * |
210,000,000.00 |
UNION BANK OF INDIA |
MUMBAI SAMACHAR MARG BRANCH, 66/80, MUMBAI
SAMAC |
A16967168 |
|
13 |
90219849 |
21/10/2003 |
37,500,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE. DOCUMENT CALL, 1-ST
FLOOR; |
- |
|
14 |
90241045 |
09/08/2005 * |
37,500,000.00 |
CENTRAL BANK OF INDIA |
DOCUMATATION CELL; MUMBAI MAIN OFFICE;
M.G. ROAD, |
- |
|
15 |
90218438 |
09/08/2005 * |
22,000,000.00 |
CENTRAL BANK OF INDIA |
DOCUMATATION CELL; MUMBAI MAIN OFFICE;
M.G. ROAD, |
- |
|
16 |
90219815 |
22/01/2002 |
22,000,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE. DOCUMENT CALL, 1-ST
FLOOR; |
- |
|
17 |
90219798 |
04/07/2001 |
2,800,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTION CELL, MG
ROAD` FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
18 |
90219787 |
19/01/2001 |
2,825,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE. DOCUMENT CALL, 1 - ST
FLOOR; |
- |
|
19 |
90219778 |
20/02/2002 * |
21,700,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTION CELL, 1 -
ST FLOOR; MG ROAD` FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
20 |
90219758 |
22/01/2002 * |
6,500,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE. DOCUMENT CALL, 1 - ST
FLOOR; |
- |
|
21 |
90240646 |
09/08/2005 * |
6,500,000.00 |
CENTRAL BANK OF INDIA |
DOCUMATATION CELL; MUMBAI MAIN OFFICE;
M.G. ROAD, |
- |
|
22 |
90219756 |
21/01/2000 |
6,000,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTION CELL, 1 - ST
FLOOR; MG ROAD` FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
23 |
90219739 |
22/01/2002 * |
3,000,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE. DOCUMENT CALL, 1 - ST
FLOOR; |
- |
|
24 |
90219674 |
28/01/2000 * |
21,700,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTION CELL, 1 -
ST FLOOR; MG ROAD` FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
25 |
90219661 |
18/03/1996 |
206,000.00 |
NEW INDIA CO - OP. BANK LIMITED. |
KOHLI HOUSE; PLOT NO - 526, OPP. NATIONAL
COLLEGE, MUMBAI, MAHARASHTRA, INDIA |
- |
|
26 |
90219655 |
28/05/1997 * |
2,000,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTION CELL, MG
ROAD` FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
27 |
90219581 |
14/09/1993 |
1,000,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN BUILDING, MG ROAD; FORT,
MUMBAI, MAHA |
- |
|
28 |
90219511 |
11/03/1991 |
1,200,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTRY, 1 - ST FLOOR;
MG |
- |
|
29 |
90216158 |
03/10/2011 * |
507,800,000.00 |
CENTRAL BANK OF INDIA-MEMBER BANK OF UBI
CONSORTIUM |
MUMBAI MAIN OFFICE, CREDIT DEPT, CENTRAL BANK
BUILDING, 3RD FLOOR, M. G. ROAD, MUMBAI, MAHARASHTRA |
B26191312 |
|
30 |
90219494 |
04/06/1997 * |
21,700,000.00 |
CENTRAL BANK OF INDIA |
DOCUMENTRY CELL; 1ST FLOOR, MUMBAI MAIN
OFFICE; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
31 |
90219466 |
12/05/1989 |
226,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; MG ROAD1 - ST FLOOR,
MUMBAI MAIN OFFICE; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
32 |
90219407 |
29/03/1987 |
2,320,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE, MG ROAD` FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
- |
|
33 |
90219406 |
14/03/1987 |
600,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE., MG ROAD` FORT,
MUMBAI, MAHA |
- |
|
34 |
90219390 |
21/01/2000 * |
300,000.00 |
CENTRAL BANK OF INDIA |
MUMBAI MAIN OFFICE; DOCUMENTION CELL, 1 -
ST FLOO |
- |
|
35 |
90239150 |
09/08/2005 * |
300,000.00 |
CENTRAL BANK OF INDIA |
DOCUMATATION CELL; MUMBAI MAIN OFFICE; M.G.
ROAD, |
- |
|
36 |
90219330 |
18/02/1983 |
100,000.00 |
CENTRAL BANK OF INDIA |
CASH CREDIT DEPPT., MG ROAD` FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
- |
|
37 |
90219317 |
04/03/1982 |
300,000.00 |
CENTRAL BANK OF INDIA |
OVERDRAFT DEPTT., MG ROAD` FORT, MUMBAI,
MAHARASHTRA - 400023, INDIA |
- |
|
* DATE OF CHARGE MODIFICATION |
||||||
OPERATION
During the current year the total income has increased by about 11%.
However the profit
during the year has reduced from Rs 36.755 Millions in 2011 to Rs 5.115
Millions. The main reasons attributed towards lower profit are as under
1) Increase in
input cost due to foreign currency fluctuation (USD) which has not been possible
to pass on to Customers due to recessionary condition.
2) High finance cost due to increase in term loan and working capital
for expansion project.
3) Other expenses have increased mainly in power and fuel cost due to
increase in rate of electricity and also loss on foreign exchange.
4) Market Price of both the products coming down at a fast pace due to
stiff competition on account of new entrants to the industry.
5) There has been Labor related problem in the last quarter year which
has adversely affected their production.
In the next year the company expects to achieve better result after
completion and operation of expansion project.
FIXED ASSETS
·
Factory Building
·
Office Premises
·
Plant and Machinery
·
Scruber
·
Electrical Installation
·
R and D Equipments
·
Office Equipments
·
Air Conditioner
·
Furniture and Fixtures
·
Computer
·
Software
·
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. 62.24 |
|
UK Pound |
1 |
Rs. 101.80 |
|
Euro |
1 |
Rs. 84.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
30 |
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.