MIRA
INFORM REPORT
|
Report Date : |
23.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
THIRUPUR SURYA TEXTILES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
5 M. P. Nagar, Extnpilaiyar Koil
Thottam, Tiruppur, Coimbatore District – 641604, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.05.1990 |
|
|
|
|
Com. Reg. No.: |
18-002714 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 228.858 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17115TZ1990PTC002714 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT6511G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cotton Yarn. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1600000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2013. As per available financial of 2012, there appears losses recorded by
the company from its operational activities. 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
Uptick in
agriculture and construction spread some cheer as the economy grew a
higher-than-expected 4.8 % in the three months through September. Manufacturing
rose an annual rate per cent during the quarter and mining fell by 0.4 %,
government data showed while farm output rose 46%.
India has emerged as
the most attractive investment destination, thanks to a relaxation in foreign
direct investment norms, says a report. India is followed by Brazil and China
in the ranking part of EY’s Capital Confidence Barometer report based on a
survey across 70 nations. The US, France and Japan have emerged as the top
three investors likely to invest in India.
India has been
ranked 83rd globally in terms of talent competitiveness of its human
capital. Switzerland, Singapore, Denmark, Sweden and Luxembourg are the
top five in the list of 103 nations compiled by INSEAD business school.
Tax rates for
companies in India are among the highest in the world and the number of payments
is also more than the global average putting the country at low, 158th
rank on the Paying Taxes. 2014 list by the World Bank and PWC. However, the
time taken for tax payments is relatively less in India which is rated ahead of
China and Japan.
1 billion smartphone
shipments in 2013, a 39.3 % growth over 2012. This was being driven by low cost
computing in emerging markets. By 2017, total smartphone shipments are expected
to approach 1.7 billion units, resulting in a compound annual growth rate of 18.4
% between 2013 and 2017, according to research from IDC.
20 % vacancy rate of
office space in Mumbai and Delhi in the third quarter, the highest in Asia
after Chengdu, in China. According to Cushman and Wakefield, six Indian cities
are among the 10 office markets with the worst vacancies.
Foreign banks will
not have to pay stamp duty and capital gains tax, if they convert their branch
operations into a wholly owned subsidiary, according to the Reserve Bank of
India.
The Reserve Bank of
India is planning to launch CPI – indexed bonds aimed to protecting the savings
of retail investors from the impact the price rise by December end.
Central Bureau of
Investigation has booked State Bank of India, Deputy Managing Director Shyamal
Acharya and others in a graft case related to distribution of a loan of over Rs
4000 mn. Gold and jewellery worth Rs 6.7 mn have been recovered from the
residence of Acharya.
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 DECLINED BY
|
Name : |
Duraiya |
|
Designation : |
Not Divulged |
|
Contact No.: |
91-9787718821 |
|
Date : |
21.12.2013 |
LOCATIONS
|
Registered Office : |
5 M. P. Nagar, Extnpilaiyar Koil
Thottam, Tiruppur, Coimbatore District – 641604, Tamilnadu, India |
|
Tel. No.: |
91-421-2249098, 2249606 |
|
Mobile No.: |
91-9787718821 (Duraiya) |
|
Fax No.: |
91-421-2244576, 2248450 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Kandasamy Gounder Kuppuswamy |
|
Designation : |
Managing Director |
|
Address : |
65, Lakshmi Nagar, 50 Feet Road, Tirupur – 641607, Tamilnadu, India |
|
Date of Birth/Age : |
05.03.1943 |
|
Date of Appointment : |
21.05.1990 |
|
DIN No.: |
01255963 |
|
PAN No.: |
AGAPK1806E |
|
|
|
|
Name : |
Mrs. Kuppuswamy Radhambikai |
|
Designation : |
Director |
|
Address : |
65, Lakshmi Nagar, 50 Feet Road, Tirupur – 641607, Tamilnadu, India |
|
Date of Birth/Age : |
15.06.1965 |
|
Date of Appointment : |
21.05.1990 |
|
DIN No.: |
01560356 |
|
PAN No.: |
ADOPR3346P |
|
|
|
|
Name : |
Mr. Kuppusamy Karthik |
|
Designation : |
Additional Director |
|
Address : |
14, Kannabiran Colony, B.S. Sundaram Road, Tirupur – 641601,
Tamilnadu, India |
|
Date of Birth/Age : |
10.01.1988 |
|
Date of Appointment : |
03.06.2011 |
|
DIN No.: |
03040029 |
|
|
|
|
Name : |
Mr. Harihara Sivasubramaniam |
|
Designation : |
Additional Director |
|
Address : |
42, Sundaram Colony, Salem– 636005, Tamilnadu, India |
|
Date of Birth/Age : |
20.10.1974 |
|
Date of Appointment : |
03.06.2011 |
|
DIN No.: |
03602518 |
|
|
|
|
Name : |
Mr. Kuppusamy Suriya |
|
Designation : |
Additional Director |
|
Address : |
14, Kannabiran Colony, B.S. Sundaram Road, Tirupur – 641601,
Tamilnadu, India |
|
Date of Birth/Age : |
14.06.1986 |
|
Date of Appointment : |
03.06.2011 |
|
DIN No.: |
03602506 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Kandasamy Gounder Kuppuswamy |
|
178858 |
|
Kuppuswamy Radhambikai |
|
41000 |
|
Kuppuswamy Palanthal |
|
9000 |
|
Total |
|
228858 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cotton Yarn. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Ring spindles |
Nos. |
61200 |
21 |
|
Fabric knitting |
Nos. |
-- |
4.50 MW |
|
Particulars |
Unit |
Actual
Production |
|
Cotton Yarns |
In Kgs |
8719650 |
|
Knitted Fabrics |
In Kgs |
1290290 |
|
Wind Energy |
In Units |
10963577 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Specialized Commercial Branch, 24 Stanes Road 4th Street, Tirupur - 641602, Tamilnadu, India · South Indian Bank Limited ·
ICICI Bank Limited |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Sethuraman and Srivatsan Chartered Accountants |
|
Address : |
36, (A-18), Main Road, Annanagar, Tennur, Trichy-620017,
Tamilnadu, India |
|
PAN No.: |
ADTPC7298J |
|
|
|
|
Associate : |
Tiruppur Surya Hitec Apparel Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
230000 |
Equity Shares |
Rs.1000/- each |
Rs.230.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
228858 |
Equity Shares |
Rs.1000/- each |
Rs.228.858 Million |
|
|
|
|
|
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 |
|
228.858 |
228.858 |
|
(b) Reserves & Surplus |
|
184.631 |
520.021 |
|
(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) |
|
413.489 |
748.879 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
311.382 |
577.363 |
|
(b) Deferred tax liabilities (Net) |
|
54.330 |
54.330 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
365.712 |
631.693 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
858.700 |
628.562 |
|
(b) Trade payables |
|
120.138 |
217.707 |
|
(c) Other current
liabilities |
|
222.802 |
110.906 |
|
(d) Short-term provisions |
|
11.133 |
13.390 |
|
Total Current Liabilities (4) |
|
1212.773 |
970.565 |
|
|
|
|
|
|
TOTAL |
|
1991.974 |
2351.137 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1352.927 |
1448.266 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
2.242 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
19.705 |
8.367 |
|
(d) Long-term Loan and Advances |
|
1.112 |
4.565 |
|
(e) Other Non-current assets |
|
120.226 |
130.475 |
|
Total Non-Current Assets |
|
1493.970 |
1593.915 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
238.447 |
403.269 |
|
(c) Trade receivables |
|
192.488 |
258.848 |
|
(d) Cash and cash
equivalents |
|
2.576 |
0.719 |
|
(e) Short-term loans and advances |
|
60.073 |
92.725 |
|
(f) Other current assets |
|
4.420 |
1.661 |
|
Total Current Assets |
|
498.004 |
757.222 |
|
|
|
|
|
|
TOTAL |
|
1991.974 |
2351.137 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
150.000 |
|
|
2] Share Application Money |
|
|
315.432 |
|
|
3] Reserves & Surplus |
|
|
274.203 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
739.635 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1270.179 |
|
|
2] Unsecured Loans |
|
|
24.442 |
|
|
TOTAL BORROWING |
|
|
1294.621 |
|
|
DEFERRED TAX LIABILITIES |
|
|
54.330 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2088.586 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1598.598 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
377.309 |
|
|
Sundry Debtors |
|
|
164.439 |
|
|
Cash & Bank Balances |
|
|
4.761 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
183.958 |
|
Total
Current Assets |
|
|
730.467 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
206.357 |
|
|
Other Current Liabilities |
|
|
14.288 |
|
|
Provisions |
|
|
19.834 |
|
Total
Current Liabilities |
|
|
240.479 |
|
|
Net Current Assets |
|
|
489.988 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
2088.586 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
725.794 |
1817.404 |
1521.314 |
|
|
|
Other Income |
26.133 |
9.252 |
10.762 |
|
|
|
TOTAL (A) |
751.927 |
1826.656 |
1532.076 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
808.056 |
1562.347 |
1307.464 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
808.056 |
1562.347 |
1307.464 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(56.129) |
264.309 |
224.612 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
185.455 |
134.689 |
119.210 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(241.584) |
129.620 |
105.402 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
105.144 |
128.743 |
112.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(346.728) |
0.877 |
(7.205) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(11.338) |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(335.390) |
0.877 |
(7.205) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
381.470 |
139.910 |
3.698 |
|
|
TOTAL EARNINGS |
381.470 |
139.910 |
3.698 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(744.25) |
1.95 |
(72.05) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(44.60)
|
(0.05) |
(0.47) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(47.77)
|
0.05 |
(0.47) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(17.58)
|
0.04 |
(0.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.84)
|
0.00 |
(0.01) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.83
|
1.61 |
1.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.41
|
0.78 |
3.04 |
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 |
Yes |
|
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 |
No |
|
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 |
No |
OUTLOOK FOR THE
CURRENT YEAR:
1) With virtually every macroeconomic indicator trending negatively, the road ahead appears rather bumpy. Of particular concern is the fact that GDP growth has fallen successively for nine quarters. Global economic developments are only likely to exacerbate the already gloomy domestic economic situation. Various Business Confidence surveys reveal a consistently pessimistic outlook for the current financial year.
2) While inflation has come off its double digit highs, it is still well above RBIs zone of comfort, resulting in stubbornly high interest rates. While there is a lot of expectation on the Monetary Policy front, most of the challenges are on the Fiscal front. A large fiscal deficit, a widening current account deficit, a marked slowdown in infrastructure spending and policy indecision are issues that need to be addressed urgently, if India’s dream of double digit economic growth is to be realized.
3) As always, the progress of the Southwest monsoon will also have a bearing on India’s growth prospects the textile industry needs a renewed belief and confidence in the medium and long term. Appropriate technology aiming at value addition coupled with prudent financial management, innovative branding and marketing are essential to achieve a sustained growth.
4) The Textiles industry is already facing headwinds, going by the indications in the first two months of the current financial year. Sales of textiles products have been sluggish, partly on account of the higher prices occasioned by factors outside the purview of the company.
5) The impending increases in petrol and diesel prices will only serve to dampen sentiments further. The cloth sector is also projecting lower sales growth during the current year. Weaving is the only segment which remains unaffected and might continue to grow at a relatively healthy pace.
6) Overall, the prospects for most segments of the textile sector do not appear to be encouraging.
7) Your Company is closely aligned to the export of garment and textile products and is therefore likely to be impacted by its performance. Over the years, your company has broad based its exposure to the various segments of the textile industry, thereby enabling it to re-balance its portfolio on a dynamic basis. It is this strategy that has facilitated our consistent growth across economic cycles.
8) Given the various uncertainties in the macroeconomic environment and the none too optimistic outlook for the textile industry, your company will strive for growth that is sustainable and profitable, while remaining strongly focused on the highest asset quality.
9) Your Company has built strong customer relationships over several decades, based on the KKP Values of Service, Integrity, Transparency and Humility and it is these that will sustain us through what promises to be a challenging and difficult twelve month period.
10) During the last quarter of the financial year there is a marginal improvement in the demand for the Company’s products and further improvement is expected. Cotton prices are fairly stable in the current year. Measures are being taken to save costs and rationalize operations, they are likely to yield positive results. The decline in consumer spending which has affected sale of yarn is expected to ease with the gradual improvement in the economic conditions.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Long-term
Borrowings |
|
|
|
Deferred payment liabilities |
6.572 |
9.629 |
|
Loans and advances from related parties |
0.000 |
61.260 |
|
Other loans and advances, others |
10.000 |
9.881 |
|
Total |
16.572 |
80.770 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10160784 |
17/04/2009 |
36,500,000.00 |
STATE BANK OF INDIA |
24/44, STANES ROAD, 4TH STREET, TIRUPUR, TIRUPUR, TAMILNADU - 641602, INDIA |
A63544415 |
|
2 |
10108220 |
02/06/2008 |
50,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
ARUKANIAMMAL TOWERS,1ST STREET, BINNY COMPOUND, |
A40704116 |
|
3 |
10044180 |
28/02/2007 |
50,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
ARUKANIAMMAL TOWERS,1ST STREET, BINNY COMPOUND, |
A12497426 |
|
4 |
10000053 |
03/03/2006 |
12,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
ARUKANIAMMAL TOWERS,1ST STREET, BINNY COMPOUND, |
A00019463 |
|
5 |
10000026 |
14/02/2011 * |
1,064,600,000.00 |
STATE BANK OF INDIA |
SPECIALIZED COMMERCIAL BRANCH, STANES ROAD, TIRUPUR, TAMILNADU - 641602, INDIA |
B08090045 |
|
6 |
90005973 |
27/08/2004 |
135,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 24; STANES ROAD; 4-STREET, TIRUPUR, TAMILNADU - 641602, INDIA |
- |
|
7 |
90005972 |
19/04/2005 * |
75,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 24; STANES ROAD; 4-STREET, TIRUPUR, TAMILNADU - 641602, INDIA |
- |
|
8 |
90005971 |
19/04/2005 * |
69,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 24; STANES ROAD; 4-STREET, TIRUPUR, TAMILNADU - 641602, INDIA |
- |
|
9 |
90008931 |
19/11/2001 * |
13,500,000.00 |
THE SOUTH INDIAN BANK |
UTHUKULI ROAD, TIRUPUR, TAMILNADU - 641601, INDIA |
- |
|
10 |
90005970 |
26/07/2011 * |
445,977,000.00 |
THE SOUTH INDIAN BANK LTD |
ARUKKANIAMMAL TOWERS, 1ST STREET BINNY COMPOUND, |
B20868980 |
|
11 |
90005969 |
19/04/2005 * |
75,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 24; STANES ROAD; 4-STREET, TIRUPUR, TAMILNADU - 641602, INDIA |
- |
|
12 |
80000091 |
07/03/2013 * |
1,160,100,000.00 |
STATE BANK OF INDIA |
SPECIALIZED COMMERCIAL BRANCH, 24 STANES ROAD 4TH STREET, TIRUPUR, TAMILNADU - 641602, INDIA |
B72044373 |
|
13 |
90005967 |
29/06/2000 * |
13,400,000.00 |
SOUTH INDIAN BANK LTD. |
51; MUNICIPAL OFFICE ROAD, MADRAS, TAMILNADU - 600034, INDIA |
- |
|
14 |
90008299 |
19/11/2001 * |
13,400,000.00 |
SOUTH INDIAN BANK LIMITED |
51; MUNICIPAL OFFICE ROAD, TIRUPUR, TAMILNADU, INDIA |
- |
|
15 |
90005966 |
28/12/1994 |
50,000,000.00 |
STATE BANK OF INDIA |
THIRUPUR BRANCH, UTHUKULI ROAD, TIRUPUR, TAMILNADU - 641601, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Buildings
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Computer equipments
· Office equipment
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 records 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 records 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 |
|
|
1 |
Rs.101.81 |
|
Euro |
1 |
Rs.84.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
-- |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
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 |
|
26 |
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.