1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ENTREMONDE
POLYCOATERS LIMITED |
Principal Name 1 |
Mr. Rajesh Sitaram Khetan |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Chandrakant Mohanlal Khetan |
|
|
|
Registration # |
11-013935 |
|
Street Address |
Kilfire House
C-17, Dalia Industrial Area, Andheri (West), Mumbai-400053, Maharashtra,
India |
||
|
Established Date |
20.02.1968 |
SIC Code |
-- |
|
Telephone# |
91-22-26752563 / 26732567 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-26732568 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Coated Fabrics |
|
|
# of employees |
Not Available |
Product Name 2 |
Laminated Textiles |
|
Paid up capital |
Rs.5,400,000 /- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100.00 % |
Banking |
Bank of India |
|
Public Limited Corp. |
No |
Business Period |
45 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
73,703,000 |
Current Liabilities |
38,778,000 |
|
Inventories |
75,677,000 |
Long-term Liabilities |
86,556,000
|
|
Fixed Assets |
71,375,000 |
Other Liabilities |
7,987,000 |
|
Deferred Assets |
0 |
Total Liabilities |
133,321,000 |
|
Invest& other Assets |
1,523,000 |
Retained Earnings |
83,557,000 |
|
|
|
Net Worth |
88,957,000 |
|
Total Assets |
222,278,000 |
Total Liab. & Equity |
222,278,000 |
|
Total Assets (Previous Year) |
213,820,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
341,611,000 |
Net Profit |
4,865,000 |
|
Sales(Previous yr) |
315,624,000 |
Net Profit(Prev.yr) |
1,299,000 |
MIRA INFORM
REPORT
|
Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
ENTREMONDE POLYCOATERS LIMITED (w.e.f. 01.10.2012) |
|
|
|
|
Formerly Known
As : |
ENTREMONDE POLYECOATERS LIMITED |
|
|
|
|
Registered
Office : |
Kilfire House C-17, Dalia Industrial Area, Andheri (West),
Mumbai-400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
20.02.1968 |
|
|
|
|
Com. Reg. No.: |
11-013935 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5.400 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25200MH1968PLC013935 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME06514E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE0944L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Coated Fabrics and Laminated Textiles. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 356000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct and as per commitment. 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
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 : |
Kilfire House C-17, Dalia Industrial Area, Andheri (West), Mumbai
400053, |
|
Tel. No.: |
91-22-26752563 / 26732567 |
|
Fax No.: |
91-22-26732568 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
Street No. 13, C Road, Plot No. 29, MIDC Satpur, Nashik – 422 007,
Maharashtra, India |
|
|
|
|
Factory 2: |
Gut No. 171, 175, 176, 177, Bombay Agra Road, Gonde (Dumala), Taluka
Igatpuri, Dist. Nashik, Maharashtra, India |
DIRECTORS
As on 21.09.2012
|
Name : |
Mr. Rajesh Sitaram Khetan |
|
Designation : |
Director |
|
Address : |
Silver Beach, Suryvanshi, Sabhagraha Marg, Off. Caddle Road, Dadar,
Mumbai – 400028, Maharashtra, India |
|
Date of Appointment : |
01.01.1997 |
|
PAN No.: |
AAGPK7606L |
|
DIN No.: |
00249595 |
|
|
|
|
Name : |
Mr. Chandrakant Mohanlal Khetan |
|
Designation : |
Managing director |
|
Address : |
170, Raval Sea View, Dr. M.B. Raut Road, Shivaji Park, Dadar, Mumbai –
400 028, Maharashtra, India |
|
Date of Birth/Age : |
24.01.1946 |
|
Date of Appointment : |
20.08.2009 |
|
PAN No.: |
AAHPK5606M |
|
DIN No.: |
00234118 |
|
|
|
|
Name : |
Ms. Rita Chandrakant Khetan |
|
Designation : |
Director |
|
Address : |
170, Raval Sea View, Dr. M.B. Raut Road, Shivaji Park, Dadar, Mumbai –
400 028, Maharashtra, India |
|
Date of Appointment : |
12.08.2011 |
|
PAN No.: |
AESPK5709A |
|
DIN No.: |
01830342 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 21.09.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mrs Rita C.
Khetan |
750 |
1.39 |
|
Smt. Kamala M.
Khetan |
2000 |
3.70 |
|
Ms. Pooja C.
Khetan |
2000 |
3.70 |
|
Mr. Shashank C.
Khetan |
2000 |
3.70 |
|
Mr. Vijay S.
Khetan |
2500 |
4.63 |
|
Smt. Shantidevi
S. Khetan |
2700 |
5.00 |
|
Smt. Chitralekha
S. Khetan |
3500 |
6.48 |
|
Mr. Umakant M.
Khetan |
2800 |
5.19 |
|
Mrs. Sheela A.
Bharatiya |
750 |
1.39 |
|
Mrs. Vibha U.
Khetan |
3260 |
6.04 |
|
Mrs. Shashi V.
Khetan |
2200 |
4.07 |
|
Mr. Rajesh S.
Khetan |
3800 |
7.04 |
|
Vijay and
Company (H.U.F.) |
3400 |
6.30 |
|
Ruchi and
Company (H.U.F.) |
1500 |
2.78 |
|
Rajesh and
Company (H.U.F.) |
4000 |
7.41 |
|
C.U.Kant and
Company (H.U..F.) |
4000 |
7.41 |
|
Pooja and
Company (H.U.F.) |
2000 |
3.70 |
|
Rima and Company
(H.U.F.) |
2000 |
3.70 |
|
Smt. Pramoda A.
Mody and Mrs. S J. Parekh |
8010 |
14.83 |
|
Entremonde Exim
Private Limited |
30 |
0.06 |
|
Mrs. Sonal R.
Khetan |
800 |
1.48 |
|
Total |
54000 |
100 |
Equity Share Break up (Percentage of Total Equity)
As on 21.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Coated Fabrics and Laminated Textiles |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Coated Textiles |
Mtrs Mtrs Sq.Mtrs |
9720000 |
9720000 |
2028094 466536 1836 |
|
Multilayer Composites |
Mtrs Mtrs Sq.Mtrs |
6000000 |
6000000 |
83309 665385 567113 |
The capacities have been computed on 3 shift basis.
* for Input to Multilayer Composites
**for Input to Coated fabrics
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Bank of India,
Overseas Branch, 70/80 MG Road, Mumbai - 400023, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Note:
I.
Term loans are secured by first charge on
all fixed assets of the company and personal guarantee of some of the
directors. II.
Terms
of Repayments a) Secured
loans from bank are repayable in equal quarterly installment upto 02nd
May 2018 b) The rate of interest on secured term loans payable
vary between 13.5% to 14% p.a. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Doshi and Company Chartered Accountants |
|
Address : |
Plot no. 12, Parvati Apartment, Flat No.3, Road No. 5 , Sion (West),
Mumbai-400022, Maharashtra |
|
Tel. No.: |
91-22-24031066/ 24011069 |
|
PAN No.: |
AAHFD8284G |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
92500 |
Equity Shares |
Rs.100/- each |
Rs.9.250 Millions |
|
7500 |
Preference Shares |
Rs.100/- each |
Rs.0.750 Million |
|
|
|
|
|
|
|
Total |
|
Rs. 10.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
54000 |
Equity Shares |
Rs.100/- each |
Rs.5.400 Millions |
|
|
|
|
|
(a) Reconciliation
of the shares outstanding at the beginning and at the end of the reporting
period.
There is no change
in shares outstanding at the beginning and at the end of reporting date and
immediately preceeding reporting date.
(b) Terms /
Rights attached to equity shares
The Company has
only one class of equity shares having a par value of Rs.10 per share. Each holder
of equity share is entitle to one vote per share. The company has not proposed
any dividend during the year.
In the event of
liquidation of the Company, the holder of the equity share will be entitled to
receive remaining assets of the Company, after distribution of all preferential
amounts. The distribution will be in proportion to the numbers of equity shares
held by the shareholders.
(c) Details of shareholders holding more than 5%
share in the company
|
|
31.03.2012 |
|
|
|
Number
of Share |
% Holding |
|
Mrs.Chitralekha S. Khetan |
3500 |
6.48 |
|
Mr. Umakant M. Khetan |
2800 |
5.19 |
|
Mrs. Vibha U. Khetan |
3260 |
6.04 |
|
Mr. Rajesh S. Khetan |
3800 |
7.04 |
|
Vijay and Company (H.U.F.) |
3400 |
6.30 |
|
Rajesh and Company (H.U.F.) |
4000 |
7.41 |
|
C.U.Kant and Company (H.U..F.) |
4000 |
7.41 |
|
Mrs Pramoda A. Mody |
8010 |
14.83 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.400 |
5.400 |
5.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
83.557 |
78.691 |
77.392 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
88.957 |
84.091 |
82.792 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
73.469 |
81.489 |
76.745 |
|
|
2] Unsecured Loans |
13.087 |
3.706 |
2.374 |
|
|
TOTAL BORROWING |
86.556 |
85.195 |
79.119 |
|
|
DEFERRED TAX LIABILITIES |
1.772 |
1.524 |
1.568 |
|
|
|
|
|
|
|
|
TOTAL |
177.285 |
170.810 |
163.479 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
71.375 |
69.513 |
71.795 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.523 |
1.523 |
1.498 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
75.677
|
62.157
|
58.612
|
|
|
Sundry Debtors |
60.756
|
60.902
|
57.940
|
|
|
Cash & Bank Balances |
3.978
|
3.630
|
2.754
|
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
8.969
|
16.095
|
12.092
|
|
Total
Current Assets |
149.380
|
142.784
|
131.398
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.070
|
31.219
|
34.845
|
|
|
Other Current Liabilities |
6.708
|
6.540
|
0.226
|
|
|
Provisions |
6.215
|
5.251
|
6.141
|
|
Total
Current Liabilities |
44.993
|
43.010
|
41.212
|
|
|
Net Current Assets |
104.387
|
99.774
|
90.186
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
177.285 |
170.810 |
163.479 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
341.611 |
315.624 |
319.289 |
|
|
|
Other Income |
6.183 |
3.692 |
5.769 |
|
|
|
TOTAL (A) |
347.794 |
319.316 |
325.058 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost
of materials consumed |
243.146 |
|
303.813 |
|
|
|
(Increase) / Decrease in Inventories of Finished Goods, Stock in
Process |
0.633 |
2.805 |
|
|
|
|
Employees
Benefits Expenses |
41.125 |
35.137 |
|
|
|
|
Other
expenses |
40.190 |
34.693 |
|
|
|
|
TOTAL (B) |
325.094 |
303.782 |
303.813 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.700 |
15.534 |
21.245 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.870 |
8.640 |
7.152 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.830 |
6.894 |
14.093 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.710 |
5.625 |
5.367 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
6.120 |
1.269 |
8.726 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.255 |
(0.030) |
2.183 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.865 |
1.299 |
6.543 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.902 |
0.603 |
0.692 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Equity Shares |
0.000 |
0.000 |
0.540 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.000 |
0.092 |
|
|
|
Transfer to General Reserve |
5.000 |
1.000 |
6.000 |
|
|
BALANCE CARRIED
TO THE B/S |
0.767 |
0.902 |
0.603 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Exports on F.O.B. basis |
14.393 |
8.507 |
14.774 |
|
|
TOTAL EARNINGS |
14.393 |
8.507 |
14.774 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
46.902 |
39.714 |
45.139 |
|
|
|
Plant and Machinery |
0.000 |
0.000 |
2.579 |
|
|
TOTAL IMPORTS |
46.902 |
39.714 |
47.718 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
90.09 |
24.06 |
121.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.40
|
0.41 |
2.01 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.79
|
0.40 |
2.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.77
|
0.60 |
4.29 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Net worth) |
|
0.07
|
0.02 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Net worth) |
|
0.97
|
1.01 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.32
|
3.32 |
3.19 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
------ |
|
22] |
Litigations that the firm
/ promoter involved in |
------ |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
------ |
|
26] |
Buyer visit details |
------ |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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 |
OPERATIONS REVIEW
Sales and other
income of the Company increased by 8.91% and profit after tax 374.42 % during
the year
OUTLOOK
In the current year the company is optimistic about sales and
profitability.
UNSECURED LOAN
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
From Others :
Sales
Tax Deferment Loan |
0.035 |
0.036 |
|
Loan
and Advances from Related parties |
13.052 |
3.670 |
|
Total |
13.087 |
3.706 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U25200MH1968PLC013935 |
|
Name of the company |
ENTREMONDE POLYECOATERS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
Kilfire House C-17, Dalia Industrial Area, Andheri (West),
Mumbai-400053, Maharashtra, India Email: atul@entremonde.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90242031 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Bank of India, Overseas Branch, 70/80 MG Road, Mumbai - 400023,
Maharashtra, India Email: epl@entremonde.com |
|
Nature of instrument creating charge |
Continuing Oral Assent |
|
Date of instrument Creating the charge |
28.09.2011 |
|
Amount secured by the charge |
Rs. 137.000 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As Applicable Terms of Repayment 20 Quarterly Installments Of Rs 0250 Millions From July 12. Margin As Applicable Extent and Operation of the charge The charge operates as the security for repayment of loan |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
All that piece of land with buildings, sheds and structures standing
thereon, situate at Plot No 29, MIDC Road "C", Street No 13,
Satpur, Nasik, containing by area 19369.00 sq.mtrs. All that piece of land at survey nos 171, 175, 176, 177 with buidings,
sheds and structures standing thereon, situate at Gonde-Dumala, Taluka
Igatpuri, district Nasik, area 31080 sq. Mtrs. All tangible movable machinery and plants such as multi property casting
and laminating machinery both present and future lying at company godown,
factory at satpur and gonda. |
|
Date of instrument modifying the charge |
30.01.2009 |
|
Particulars of the present modification |
The charge is increased from Rs. 132.000 millions to Rs. 137.000
millions. |
CONTINGENT LIABILITIES AS ON 31.03.2012:
i) In respect of
Letter of Credit opened and guaranteed by some of the Directors of the Company Rs.
14.480 millions (Rs.4.976 Millions)
ii) In respect of
Guarantees given by the bankers of the company counter guaranteed by some of
the Directors of the company Rs. 6.975 Millions (Rs 5.012 Millions)
FIXED ASSETS
·
Freehold Land
·
Leasehold Land
·
Factory Building
·
Office and Residential premises
·
Plant and Machinery
·
Embossing Rollers
·
Electrical Installation
·
Furniture and Fixtures
·
Office Equipments
·
Factory Equipments
·
Laboratory Equipments
·
Vehicles
·
Computers
·
Air conditioners
·
Trademark
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.53.57 |
|
|
1 |
Rs.84.25 |
|
Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.