MIRA
INFORM REPORT
|
Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
LOKMAT MEDIA PRIVATE LIMITED
(w.e.f. 22.05.2012) |
|
|
|
|
Formerly Known
As : |
LOKMAT MEDIA LIMITED (w.e.f. 21.09.2010) LOKMAT NEWSPAPERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.05.2011 |
|
|
|
|
Date of
Incorporation : |
21.06.1973 |
|
|
|
|
Com. Reg. No.: |
11-016613 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.414.872 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1973PLC016613 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1888J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Printing and Publishing of
Newspapers. |
|
|
|
|
No. of Employees
: |
Information Denied by Management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (65) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
Maximum Credit Limit : |
USD 10000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and well established company having a good track
record. Financial position of the company appears to be sound and healthy.
Directors are reported as well experienced and knowledgeable people. Trade relations are reported as decent. Business is active. Payment
Terms are regular and as per commitment. The company can be considered good 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
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
TERM LOAN : CRISL A+ |
|
Rating Explanation |
Adequate degree of safety and low credit risk |
|
Date |
02.01.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
COMMERCIAL PAPER : CRISIL A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest credit risk |
|
Date |
02.01.2012 |
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 DENIED
Management Non Co-operative
(91-22-24820000)
LOCATIONS
|
Registered Office : |
Mittal Tower, `B’ Wing, 12th Floor, Nariman
Point, Mumbai – 400 021, |
|
Tel. No.: |
91-22-22856749 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 28.11.2011
|
Name : |
Mr. Vijay Jawaharlal Darda |
|
Designation : |
Whole Time Director |
|
Address : |
‘Yavatmal House’, Rahate Colony, Pt. J.N. Marg, Nagpur, Maharashtra, India. |
|
Date of Birth/Age : |
14.05.1950 |
|
Date of Appointment : |
24.01.1974 |
|
Qualification : |
B.A.DIPLOMA IN JOURNALISM |
|
DIN No.: |
00009902 |
|
|
|
|
Name : |
Mr. Devendra Vijay Darda |
|
Designation : |
Managing Director |
|
Address : |
B-601, Shubhda Co Op HSG Soc B, SIT Pochkhanwala Road, Worli, Mumbai – 400018, Maharashtra, India |
|
Date of Birth/Age : |
23.11.1974 |
|
Qualification : |
MBA |
|
Date of Appointment : |
20.05.2002 |
|
DIN No.: |
00319192 |
|
|
|
|
Name : |
Mr. Vijay Gopal Jindal |
|
Designation : |
Director |
|
Address : |
W-22, Greater Kailash, Part – I, New Delhi – 110048, India |
|
Date of Birth/Age : |
08.03.1957 |
|
Qualification : |
BSC MBA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00008527 |
|
|
|
|
Name : |
Mr. Rajesh Madan Mohan Khanna |
|
Designation : |
Director |
|
Address : |
Flat No. 4210, 42nd Floor, Imperial Tower No. 1, MP Mill Compaund Tardeo, Mumbai – 400034, Maharashtra, India |
|
Date of Birth/Age : |
24.12.1965 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00032562 |
|
|
|
|
Name : |
Mr. Jayendra Natwarlal Shah |
|
Designation : |
Director |
|
Address : |
52, Apurva Building, 5th Floor, Nepeanse Road, Mumbai – 400036, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1959 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
00084759 |
|
|
|
|
Name : |
Mr. Rishi Rajendra Darda |
|
Designation : |
Managing Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1978 |
|
Qualification : |
B.COM PG DIPLOMA IN JOURNALISM MBA |
|
Date of Appointment : |
21.11.2001 |
|
DIN No.: |
00293183 |
|
|
|
|
Name : |
Mr. Karan Rajendra Darda |
|
Designation : |
Executive Director |
|
Address : |
Lokmat Bhavan, Jalana Road, Aurangabad 431003, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1983 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.04.2009 |
|
DIN No.: |
01211502 |
|
|
|
|
Name : |
Mr. Pushpat Shival Shah |
|
Designation : |
Director |
|
Address : |
94 A, Kalpataru Habitat Dr. SS Rao Road, Parel, Mumbai – 400012, Maharashtra, India |
|
Date of Birth/Age : |
27.09.1965 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.12.2010 |
|
DIN No.: |
01687641 |
KEY EXECUTIVES
|
Name : |
Mr. Amit Bhatia |
|
Designation : |
Company Secretary |
|
Address : |
3/A, Neelkanth Apartment, |
|
Date of Birth/Age : |
25.05.1979 |
|
Date of Appointment : |
25.10.2010 |
|
|
|
|
MANAGEMENT |
|
|
Name : |
Dr. Bharatkumar Raut |
|
Designation : |
Editorial Director |
|
|
|
|
Name : |
Mr. Ashok Jain |
|
Designation : |
Director – Operations |
|
|
|
|
Name : |
Mr. Ramesh Bora |
|
Designation : |
Director – Technical Services |
|
|
|
|
Name : |
Mr. Dinkar Raikar |
|
Designation : |
Group Editor |
|
|
|
|
Name : |
Mr. Omprakash Kela |
|
Designation : |
Senior Vice President |
|
|
|
|
Name : |
Mr. Mohan Joshi |
|
Designation : |
Finance Controller |
|
|
|
|
Name : |
Mr. Bijoy Sreedhar |
|
Designation : |
Vice President – Business Development |
|
|
|
|
Name : |
Mr. Pradeep Nair |
|
Designation : |
Vice President – Human Resources |
|
|
|
|
Name : |
Ms. Mandir Tendolkar |
|
Designation : |
Vice President – Communication |
|
|
|
|
Name : |
Mr. Girish Misra |
|
Designation : |
Editor, Lokmat Samachar |
|
|
|
|
Name : |
Mr. Vasant Aware |
|
Designation : |
Assistant Vice President – Circulation |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.11.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vijay J. Darda |
|
10398996 |
|
Jyotsna V. Darda |
|
6204600 |
|
Devendra Darda |
|
4140000 |
|
Rajendra J. Darda |
|
12319596 |
|
Ashoodevi Darda |
|
2808000 |
|
Rishi Darda |
|
2808000 |
|
Karan Darda |
|
2808000 |
|
|
|
|
|
Total |
|
41487192 |
Equity Share Break up (Percentage of Total Equity)
As on 28.11.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Printing and Publishing of
Newspapers. |
PRODUCTION STATUS:
(AS ON 31.05.2010)
|
Particulars |
Installed Capacity |
Actual Production |
|
Newspaper |
831000 |
623733122 |
GENERAL INFORMATION
|
No. of Employees : |
Information Denied by Management |
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Bankers : |
Bank of |
|||||||||||||||
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|||||||||||||||
|
Facilities : |
(Rs. in Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. M. Jain and Associates Chartered Accountants |
|
Address : |
AS/502, Ujwal
Flats, Rahate Colony, Wardha Road, Nagpur – 440022, Maharashtra, India |
|
PAN.: |
AABFM6199F |
|
|
|
|
Joint Ventures : |
IBN-Lokmat News Private Limited |
|
|
|
|
Subsidiaries: |
·
Asera Power Private Limited, India (CIN:
U40109MH2009PTC196213) ·
Lokmat Entertainment Private Limited, India (CIN: U92190MH2009PTC196077) |
|
|
|
|
Related Enterprises where significant influence exist: |
·
Darda Investment and Properties Private Limited ·
Media World Enterprises ·
Devendra Printers ·
Prithvi Vandan ·
Darda Printocrafts Private Limited. ·
Mogra Scangraph Private Limited. ·
Regal Publication Private Limited. ·
Airwave Entertainment Private Limited. ·
Prithvi Prakashan Private Limited. |
CAPITAL STRUCTURE
As on 31.05.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
75000000 |
Equity Shares |
Rs.10/- each |
Rs.750.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
41487192 |
Equity Shares |
Rs.10/- each |
Rs.414.872
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
414.872 |
11.524 |
6.848 |
|
|
2] Share Application Money |
0.000 |
0.000 |
4.676 |
|
|
3] Reserves & Surplus |
2153.056 |
2088.952 |
1855.486 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
2567.928 |
2100.476 |
1867.010 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
742.642 |
308.092 |
407.027 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
9.500 |
|
|
TOTAL BORROWING |
742.642 |
308.092 |
416.527 |
|
|
DEFERRED TAX LIABILITIES |
85.879 |
72.029 |
30.749 |
|
|
|
|
|
|
|
|
TOTAL |
3396.449 |
2480.597 |
2314.286 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1471.663 |
1087.680 |
1158.176 |
|
|
Capital work-in-progress |
68.137 |
16.785 |
24.691 |
|
|
|
|
|
|
|
|
INVESTMENT |
562.341 |
245.175 |
89.075 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
484.095
|
253.727 |
223.905
|
|
|
Sundry Debtors |
778.927
|
712.718 |
526.065
|
|
|
Cash & Bank Balances |
440.813
|
381.160 |
332.486
|
|
|
Other Current Assets |
5.599
|
2.981 |
22.604
|
|
|
Loans & Advances |
1009.744
|
1044.567 |
701.015
|
|
Total
Current Assets |
2719.178
|
2395.153 |
1806.075 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
358.737
|
228.321 |
107.750
|
|
|
Other Current Liabilities |
179.304
|
189.229 |
290.841
|
|
|
Provisions |
886.829
|
846.646 |
365.140
|
|
Total
Current Liabilities |
1424.870
|
1264.196 |
763.731 |
|
|
Net Current Assets |
1294.308
|
1130.957 |
1042.344 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3396.449 |
2480.597 |
2314.286 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4407.652 |
3809.610 |
2300.962 |
|
|
|
Other Income |
42.989 |
50.960 |
21.729 |
|
|
|
TOTAL |
4450.641 |
3860.570 |
2322.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption material changes inventories |
2075.859 |
1543.251 |
|
|
|
|
Manufacturing other operating expenses |
270.467 |
216.796 |
|
|
|
|
Employee related expenses |
638.509 |
560.131 |
|
|
|
|
Administrative selling other expenses |
526.126 |
472.815 |
|
|
|
|
TOTAL |
3510.961 |
2792.993 |
1621.638 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
939.680 |
1067.577 |
701.053 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
40.287 |
26.349 |
49.027 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
899.393 |
1041.228 |
652.026 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
185.341 |
159.599 |
95.631 |
|
|
|
|
|
|
|
|
|
Less |
NET PROFIT
BEFORE TAX PRIOR PERIOD AND EXTRAORDINARY ITEMS |
0.000 |
881.629 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
EXTRAORDINARY
ITEMS BEFORE TAX |
0.000 |
7.609 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ITEMS BEFORE TAX |
0.000 |
0.793 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
714.052 |
873.227 |
556.395 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
222.048 |
284.280 |
148.786 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
492.004 |
588.947 |
407.609 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
589.094 |
350.734 |
3.118 |
|
|
|
|
|
|
|
|
|
Add |
Transfer
to Revaluation Reserve |
0.005 |
0.006 |
0.007 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
49.000 |
59.000 |
60.000 |
|
|
|
Dividend |
0.000 |
249.730 |
0.000 |
|
|
|
Tax on Dividend |
0.000 |
41.863 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
1032.103 |
589.094 |
350.734 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
357.709 |
88.279 |
|
|
|
Components and Spare Parts |
NA |
0.000 |
11.674 |
|
|
|
Capital Goods |
NA |
6.331 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
364.040 |
99.953 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.86 |
14.20 |
534.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
PAT / Total Income |
(%) |
11.05
|
15.26 |
17.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.20
|
15.46 |
24.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
26.26
|
36.46 |
30.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.42 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.84
|
0.75 |
0.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.91
|
1.89 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS DETAILS:
(Rs. In Millions)
|
Particulars |
31.05.2011 |
31.05.2010 |
31.05.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise and
others |
358.737
|
228.321 |
107.750 |
|
Others |
0.000
|
0.000 |
0.000 |
|
Total |
358.737
|
228.321 |
107.750 |
|
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) |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
FINANCIAL PERFORMANCE:
The Company's total
income for the year is higher than the previous year but Net profit is lower
due to high interest rates, increased depreciation due to additional capex and
tough market conditions. The Directors are optimistic about the enhancement of
the capacity utilization resulting in an increase in the turnover as well as
generating more profit from operations in the years ahead
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U99999MH1973PTC016613 |
|
Name of the company |
LOKMAT MEDIA
PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
Mittal
Tower, `B’ Wing, 12th Floor, Nariman Point, Mumbai – 400 021,
Maharashtra, India Email:
dxd510@gmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the
charge to be modified |
10221777 |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of charge holder |
Bank of India,
Nagpur Corporate Banking Branch, S. V. Patel Marg, Kingsway, Nagpur- 440001,
Maharashtra, India. Email: mca21@in.com |
|
Nature of instrument creating charge |
Supplemental
deed of hypothecation. |
|
Date of instrument Creating the charge |
14.10.2010 |
|
Amount secured by the charge |
Rs.334.800
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Term Loan I and II: AT 4% Below BPLR, Present Effective Rate 8.50%
P.A. With Monthly Rests. Terms of Repayment Term Loan I and II: Repayable in 10 Half Yearly installments of Rs.
33.400 Millions, commencing from December 2010 (Last Installment Is OF Rs. 34.200
Millions). Margin Term Loan : 25% Extent and Operation of the charge The charge operates as security on the plant and machinery of the
company. |
|
Short particulars of the property or asset(s)
charged (including complete address and location of the property) |
Hypothecation of
plant and machinery proposed to be purchased out of this term loan. The
details are as per annexure-i. |
|
Date of instrument modifying the charge |
23.04.2010 |
|
Particulars of the present modification |
By present
modification the bank has sanctioned the new term loan of Rs. 90.000
Millions. Thus total term loan facilities stand at Rs. 334.800 Millions. The
bifurcation of credit facilities are as under: Term Loan I: RS.
244.800 Millions. Term Loan II:
RS. 90.000 Millions Total: RS. 334.800 Millions. |
FIXED ASSETS
· Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Data Processing Equipments.
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.54.42 |
|
|
1 |
Rs.88.29 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
65 |
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.