MIRA
INFORM REPORT
|
Report Date : |
24.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
JAYASHREE POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
21/4, D-1 Block, MIDC, Chinchwad, Pune-411019, Maharashtra |
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|
Country : |
India |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
02.02.1996 |
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|
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|
Com. Reg. No.: |
11-096879 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.16.742 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134PN1996PTC096879 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEJ04748C |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACJ4677K |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Rubber Products. |
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|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1279000 |
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company seems to be fair. Trade relationas are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered 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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB [Long Term Fund Based Facilities] |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 [Short Term Fund Based Facilities] |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
January, 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. Anil Miranda |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-20-30691460 |
|
Date : |
23.12.2013 |
LOCATIONS
|
Registered Office / Factory : |
21/4, D-1 Block, MIDC, Chinchwad, Pune-411019, Maharashtra, India |
|
Tel. No.: |
91-20-30691402 / 03/ 04 |
|
Fax No.: |
91-20-27440237 |
|
E-Mail : |
|
|
Website : |
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|
Factory : |
Also Located At:
·
Haridwar ·
Manesar ·
Hosur ·
Pune ·
Chinchwad |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Ramdhari Surajbhan Agarwal |
|
Designation : |
Director |
|
Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, |
|
Date of Birth/Age : |
11.03.1944 |
|
Date of Appointment : |
02.02.1996 |
|
Din No.: |
01185393 |
|
|
|
|
Name : |
Mr. Rajiv Ramdhari Bansal |
|
Designation : |
Whole-time director |
|
Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, |
|
Date of Birth/Age : |
15.07.1975 |
|
Date of Appointment : |
11.09.2002 |
|
Din No.: |
01521770 |
|
|
|
|
Name : |
Mr. Vinodkumar Surajbhan Bansal |
|
Designation : |
Whole-time director |
|
Address : |
427/27, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
|
Date of Birth/Age : |
05.10.1959 |
|
Date of Appointment : |
02.02.1996 |
|
Din No.: |
01678799 |
|
|
|
|
Name : |
Mr. Rahul Ramdhari Bansal |
|
Designation : |
Additional director |
|
Address : |
174/24, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
|
Date of Birth/Age : |
01.08.1977 |
|
Date of Appointment : |
01.10.2009 |
|
Din No.: |
02988683 |
|
|
|
|
Name : |
Mr. Ajay Yashwant Pande |
|
Designation : |
Additional director |
|
Address : |
H No. 88, kiwale Dehu Road, Tal Haveli, Pune – 412101, Maharashtra,
India |
|
Date of Birth/Age : |
04.05.1958 |
|
Date of Appointment : |
30.09.2011 |
|
Din No.: |
03441421 |
|
|
|
|
Name : |
Varun Vinodkumar Bansal |
|
Designation : |
Additional director |
|
Address : |
427/27, A, P.C.N.T., Nigdi, Pune 411044, Maharashtra, India |
|
Date of Birth/Age : |
03.02.1989 |
|
Date of Appointment : |
29.12.2011 |
|
DIN No.: |
05227793 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Rubber Products. |
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Products : |
· Rubber Hoses · Rubber Profiles · Moulded Rubber Parts · Fuel Tubes · Sub Assemblies · Metal to Rubber Bonded |
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Exports : |
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Products : |
Rubber Products |
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Countries : |
·
USA ·
Europe ·
South East Asia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Asian Country |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
Whirlpool ·
Videocon ·
MTS Group ·
Panasonic ·
Honeywell ·
Hero Honda ·
Yamaha ·
Tata ·
TVS Motor Company ·
Kinetic ·
John Deere ·
Piagglo ·
Mahindra ·
Delphi |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
· Citibank N. A., First Floor, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon Park, Pune-411001, Maharashtra, India · Citibank N. A., Trent House, 2nd Floor, G Block, Plot No.C60, Bandra Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra, India ·
Axis Bank Limited, Survey No.186, CTS No.3189,
Opposite PCMC Auditorium, Near Tata Motors, Station Road, Chinchwad,
Pune-411033, Maharashtra, India ·
Yes Bank Limited Nehru Centre, 9th Floor,
Discovery of India, Dr. A.B. Road, Worli, Mumbai - 400018, Maharashtra, India |
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Facilities : |
CC Rs. 90.000 Millions from Axis Bank Limited TL Rs. 54.800 Millions from Axis Bank Limited CC Rs. 195.000 Millions from Citi Bank TL Rs. 39.500 Millions from Citi Bank
|
|
Banking Relations
: |
-- |
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|
|
|
Auditors : |
|
|
Name : |
L B Laddha and Company Chartered Accountants |
|
Address : |
Flat No. 7 and 8, Secound Floor, Sukhwani Chambers, Station Road,
Pimpri, Pune-411018, Maharashtra, India |
|
Tel. No.: |
91-20-27426966 / 27420547 |
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E-Mail : |
|
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PAN No: |
AAJPL1258Q |
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|
|
|
Associates/Subsidiaries : |
·
Jayashree Exports Private Limited
[U99999MH1987PTC044751] ·
Jayashree Polymers Extrusion Private LIMITED
[U24100PN2011PTC138533] ·
Jayashree Tubestech Component Private Limited
[U72900PN2010PTC138030] ·
Premier Seals (India) Private Limited (U01112PN1998PTC013165) |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
·
Jay Auto Parts ·
Precision Industries ·
Shree Plastics |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1674215 |
Equity Shares |
Rs.10/- each |
Rs.16.742 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 |
16.742 |
16.742 |
16.742 |
|
(b) Reserves & Surplus |
303.161 |
261.240 |
219.041 |
|
(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) |
319.903 |
277.982 |
235.783 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
393.434 |
325.198 |
299.310 |
|
(b) Deferred tax liabilities (Net) |
11.446 |
6.397 |
2.328 |
|
(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) |
404.880 |
331.595 |
301.638 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
309.373 |
290.056 |
243.736 |
|
(b) Trade payables |
239.749 |
275.740 |
162.320 |
|
(c) Other current
liabilities |
80.756 |
74.664 |
62.634 |
|
(d) Short-term provisions |
29.910 |
21.914 |
19.539 |
|
Total Current Liabilities (4) |
659.788 |
662.374 |
488.229 |
|
|
|
|
|
|
TOTAL |
1384.571 |
1271.951 |
1025.650 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
593.993 |
536.979 |
451.210 |
|
(ii) Intangible Assets |
1.227 |
1.480 |
1.595 |
|
(iii) Capital
work-in-progress |
17.812 |
0.771 |
4.873 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
42.250 |
19.250 |
2.383 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.298 |
13.228 |
7.332 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
669.580 |
571.708 |
467.393 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
40.737 |
41.708 |
44.535 |
|
(b) Inventories |
273.419 |
214.017 |
187.821 |
|
(c) Trade receivables |
269.363 |
316.163 |
248.257 |
|
(d) Cash and cash
equivalents |
8.908 |
3.417 |
6.532 |
|
(e) Short-term loans and
advances |
109.030 |
120.243 |
67.365 |
|
(f) Other current assets |
13.534 |
4.695 |
3.747 |
|
Total Current Assets |
714.991 |
700.243 |
558.257 |
|
|
|
|
|
|
TOTAL |
1384.571 |
1271.951 |
1025.650 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1554.280 |
1517.889 |
1232.897 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1501.622 |
1350.471 |
1088.347 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
NA |
167.418 |
144.550 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
NA |
66.245 |
40.399 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
101.173 |
104.151 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
NA |
53.049 |
45.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
52.658 |
48.124 |
59.033 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
5.840 |
1.061 |
20.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
46.818 |
47.063 |
38.705 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.301 |
1.103 |
3.001 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
26.000 |
35.738 |
|
|
|
Dividend |
|
4.186 |
4.186 |
|
|
|
Tax on Dividend |
NA |
0.679 |
0.679 |
|
|
BALANCE CARRIED
TO THE B/S |
|
17.301 |
1.103 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
250.756 |
258.825 |
248.358 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
27.96 |
28.11 |
23.12 |
|
Expected Sales (2013-2014) : Rs.1700.000 Millions
The above information has been parted by Mr. Anil Miranda
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.01
|
3.10 |
3.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.97
|
3.84 |
5.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.17 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.20
|
2.21 |
2.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.06 |
1.14 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Current maturities of long-term debt |
69.482 |
67.566 |
57.688 |
|
|
|
|
|
|
Total |
69.482
|
67.566 |
57.688 |
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
309.373 |
290.056 |
|
Debentures |
6.000 |
6.000 |
|
Loans and advances from directors |
219.310 |
150.917 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Rupee Term loans from banks |
0.000 |
5.423 |
|
Rupee Term loans from others |
10.906 |
12.709 |
|
|
|
|
|
Total |
236.216 |
175.049 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification
|
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10428356 |
24/05/2013 |
34,520,000.00 |
CITIBANK N.A. |
First Floor, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon Park,
Pune, MUMBAI, Maharashtra - 411001, INDIA |
B75954305 |
|
2 |
10425355 |
18/04/2013 |
20,000,000.00 |
YES BANK LIMITED |
Nehru Centre, 9th Floor, Discovery of India, Dr. A.B. Road, Worli,
Mumbai, mumbai, Maharashtra - 400018, INDIA |
B75008243 |
|
3 |
10425351 |
20/03/2013 |
15,000,000.00 |
YES BANK LIMITED |
Nehru Centre, 9th Floor, Discovery of India, Dr. A.B. Road, Worli,
Mumbai-400018, Mumbai, Maharashtra - 400018, INDIA |
B75007328 |
|
4 |
10413319 |
20/02/2013 |
15,480,000.00 |
CITIBANK N.A. |
First floor, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon
Park, PUNE, Maharashtra - 411001, INDIA |
B71294813 |
|
5 |
10358500 |
07/07/2012 * |
22,500,000.00 |
CITIBANK N.A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
B44761831 |
|
6 |
10283791 |
02/05/2011 |
197,500,000.00 |
CITIBANK N.A. |
First Floor, Onyx Tower, Near Westin Hotel, North Main Road, Koregaon
Park, Pune, Maharashtra - 411001, INDIA |
B11816238 |
|
7 |
10239568 |
31/08/2010 |
130,000,000.00 |
CITIBANK N.A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
A94719341 |
|
8 |
10204648 |
07/07/2012 * |
32,500,000.00 |
CITIBANK N.A. |
TRENT HOUSE, 2ND FLOOR, G BLOCK, PLOT NO.C60, BAN |
B44762110 |
|
9 |
10052041 |
31/08/2012 * |
195,000,000.00 |
CITIBANK N.A. |
FIRST FLOOR, ONYX TOWER, NEAR WESTIN HOTEL, NORTH MAIN ROAD, KOREGAON PARK,
Pune, Maharashtra - 411001, INDIA |
B60036613 |
|
10 |
90087059 |
07/06/2005 * |
29,750,000.00 |
UTI BANK LTD. |
PIMPRI CHINCHWAD BRANCH, BALWANT CHAPEKAR CHOWK; |
- |
|
11 |
90087060 |
07/07/2012 * |
349,038,365.00 |
AXIS BANK LIMITED |
SURVEY NO.186, CTS NO.3189, OPP. PCMC AUDITORIUM, NEAR TATA MOTORS,
STATION ROAD, CHINCHWAD, PUNE, |
B44118297 |
|
12 |
90092915 |
28/02/2009 * |
68,250,000.00 |
AXIS BANK LTD PIMPRI CHINCHAWAD BRANCH |
CHAPEKAR CHOWK, CHINCHAWAD, PUNE, Maharashtra - 4 11033, INDIA |
A60408218 |
|
13 |
80056322 |
13/12/2004 |
29,750,000.00 |
UTI BANK LIMITED |
PIMPRI CHINCHWAD BRANCH, BALWANT CHAPEKAR CHOWK, |
- |
|
14 |
90086166 |
11/10/2002 * |
9,780,000.00 |
INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED |
CORE 4A; EAST COURT; 1ST FLOOR, INDIA HABITAT CENTRE; LODHI ROAD, NEW DELHI,
Delhi - 110003, INDIA |
- |
|
15 |
90085783 |
21/06/2001 * |
10,522,500.00 |
INDIAN RENEWABLE ENERGY DEVELOPMENT AGENCY LIMITED |
CORE 4A; EAST COURT; 1ST FLOOR, INDIA HABITAT CENTRE; LODHI ROAD, NEW
DELHI, Delhi - 110003, INDIA |
- |
|
16 |
90090761 |
30/12/2002 * |
6,900,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PIMPRI, PUNE, Maharashtra - 411034, INDIA |
- |
|
17 |
90084887 |
30/12/2002 * |
3,900,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, PIMPRI, PUNE, Maharashtra - 411034, INDIA |
- |
* Date of charge modification
OPERATIONS
There was a
slowdown in the economy and automotive industries in particular. Inspite of that
company has fared well during the year. The Compay has added many new clients
i.e. Honda Cars, Honda Motorcycles and Scooters and Volkswagan India on
domestic front and Honeywell Turbo on export front. The Company expects to have
reasonable growth during the year.
The windmill
division is performing satisfactorily
FIXED ASSETS
· Land and Land Improvements
· Building
· Plant Machinery
· Office Equipments
· Factory Equipments
· Furniture Fixtures
· Vehicles
· Computer
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.61.99 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
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 |
|
45 |
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.