|
Report Date : |
15.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
STAR CIRCLIPS AND ENGINEERING LIMITED |
|
|
|
|
Registered
Office : |
B – 24, MIDC Area, Hingna Industrial Estate, Hingna, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.03.1974 |
|
|
|
|
Com. Reg. No.: |
11-017301 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.38.303 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1974PLC017301 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NGPS01683D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS8003L |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Circlips, Retaining Rings, Washers Shims
and Formed Components |
|
|
|
|
No. of Employees
: |
400 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 460000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern 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.
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 |
ICRA |
|
Rating |
CASH CREDIT : ICRA BB |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligations. |
|
Date |
December, 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 PARTED BY
|
Name : |
Mr. Sarvesh Sharma |
|
Designation : |
Accounts Assistant |
|
Contact No.: |
91-7104-235028 |
|
Date : |
12.01.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
B – 24, MIDC Area, Hingna Industrial Estate, Hingna, |
|
Tel. No.: |
91-7104-234742/235028/236056/236428 |
|
Fax No.: |
91-7104-237628 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
211 - Shrimohini , 345 Kingsway , Nagpur-440 001, |
|
Tel. No.: |
91-712-2524645/2533585/2548439 |
|
Fax No.: |
91-712-2530461 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
K-44, 5-Star Zone, MIDC, Butibori, |
|
Tel. No.: |
91-7104-265275/265285/265375 |
|
Fax No.: |
91-7104-265275 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Arun Raghuvir Raj Bhandari |
|
Designation : |
Managing Director |
|
Address : |
83, Shivaji Nagar, |
|
Date of Birth/Age : |
18.09.1955 |
|
Date of Appointment : |
03.04.1984 |
|
DIN No.: |
00008901 |
|
|
|
|
Name : |
Mr. Suresh Kumar Jakhotiya |
|
Designation : |
Director |
|
Address : |
503/B, Neelgagan Society, Humpyard, Dhantoli Nagpur – 440012, |
|
Date of Birth/Age : |
05.04.1947 |
|
Date of Appointment : |
01.06.2002 |
|
DIN No.: |
00024950 |
|
|
|
|
Name : |
Mr. Praneet Mohan Singh Bhandari |
|
Designation : |
Director |
|
Address : |
A-402, Utkarsh Alankar, R |
|
Date of Birth/Age : |
04.01.1960 |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
00124832 |
|
|
|
|
Name : |
Mr. Kamal Singh Kothari |
|
Designation : |
Director |
|
Address : |
503, Kamalshree Apartments Near Ahilya Devi Mandir, Dhantoli, |
|
Date of Birth/Age : |
07.06.1949 |
|
Date of Appointment : |
01.01.2006 |
|
DIN No.: |
00761949 |
|
|
|
|
Name : |
Mr. Mayank Arun Bhandari |
|
Designation : |
Whole Time Director |
|
Address : |
83, Shivaji Nagar, |
|
Date of Birth/Age : |
23.08.1984 |
|
Date of Appointment : |
01.12.2010 |
|
DIN No.: |
01176865 |
|
|
|
|
Name : |
Mrs. Sakshi Mayank Bhandari |
|
Designation : |
Whole Time Director |
|
Address : |
83, Shivaji Nagar, Nagpur – 440010, Maharashtra, India |
|
Date of Birth/Age : |
20.02.1986 |
|
Date of Appointment : |
01.03.2012 |
|
DIN No.: |
06360100 |
KEY EXECUTIVES
|
Name : |
Mr. Sarvesh Sharma |
|
Designation : |
Accounts Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
38.01 |
|
Directors or relatives of Directors |
46.36 |
|
Other top fifty shareholders |
15.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Circlips, Retaining Rings, Washers Shims
and Formed Components |
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Products : |
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Exports : |
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Products : |
Raw Materials |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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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
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No. of Employees : |
400 (Approximately) (In Office + In Factory) |
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Bankers : |
· State Bank of India, Hingna Industrial Estate Branch, Nagpur, Maharashtra, India · Bank of Baroda, West High Court Road, Dharampeth, Nagpur - 440010, Maharashtra, India · Axis Bank Limited, M. G. House, Rabindranath Tagore Road, Civil Lines, Nagpur - 440001, Maharashtra, India · Andhra Bank, M. I. Road, Jaipur, Gujarat, India |
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Facilities : |
Total Facilities
: Rs. 850.000 Millions (From Axis Bank Limited)
|
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|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
G K Agarwal and Company Chartered Accountants |
|
Address : |
63-64, General Merchant Market, Gandhibagh, |
|
PAN.: |
AAVPA8939M |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3830250 |
Equity Shares |
Rs.10/- each |
Rs.38.303 Millions |
Notes:
Reconciliation of the
shares outstanding at the beginning and at the end of the reporting period
|
Particulars |
31.03.2012 |
|
|
No. of Shares |
Rs. In Millions |
|
|
At the beginning of the year |
3655250 |
36.553 |
|
Issued during the year-Preferential Allotment of equity |
175000 |
1.750 |
|
Outstanding at the end of the year |
3830250 |
38.303 |
Terms/rights attached
to equity shares
The Company has only one class of equity shares with a par value of Rs.10/- per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation, the equity shareholders are eligible to receive the remaining assets of the Company after distribution of all preferencial amounts, in proportion to their shareholding.
Details of
shareholders holding more than 5% shares in the Company
|
Name of the share
holders |
31.03.2012 |
|
|
No. of shares |
% of holding |
|
|
Shri Arun Bhandari |
591554 |
15.44% |
|
Smt Saroj Bhandari |
995240 |
25.98% |
|
Maharashtra Metal Powders Limited |
998260 |
26.06% |
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 |
38.303 |
36.553 |
32.752 |
|
|
2] Share Application Money |
0.000 |
6.200 |
0.000 |
|
|
3] Reserves & Surplus |
76.823 |
51.549 |
41.263 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
115.126 |
94.302 |
74.015 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
176.607 |
154.148 |
120.695 |
|
|
2] Unsecured Loans |
14.000 |
30.166 |
12.758 |
|
|
TOTAL BORROWING |
190.607 |
184.314 |
133.453 |
|
|
DEFERRED TAX LIABILITIES |
5.367 |
10.231 |
9.722 |
|
|
GRATUITY FUND |
0.000 |
6.000 |
5.000 |
|
|
|
|
|
|
|
|
TOTAL |
311.100 |
294.847 |
222.190 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
159.089 |
127.252 |
109.075 |
|
|
Capital work-in-progress |
2.707 |
2.960 |
0.633 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.127 |
2.278 |
2.578 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
139.821
|
116.595
|
80.539
|
|
|
Sundry Debtors |
118.381
|
97.111
|
85.328
|
|
|
Cash & Bank Balances |
3.731
|
14.210
|
1.517
|
|
|
Other Current Assets |
16.580
|
17.534
|
10.579
|
|
|
Loans & Advances |
11.626
|
10.739
|
8.469
|
|
Total
Current Assets |
290.139
|
256.189
|
186.432 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
78.713
|
74.283
|
56.610
|
|
|
Other Current Liabilities |
40.447
|
13.949
|
16.023
|
|
|
Provisions |
23.802
|
5.600
|
3.895
|
|
Total
Current Liabilities |
142.962
|
93.832
|
76.528 |
|
|
Net Current Assets |
147.177
|
162.357
|
109.904
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
311.100 |
294.847 |
222.190 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
607.367 |
|
|
|
Other Income |
|
|
4.593. |
|
|
|
TOTAL (A) |
|
|
611.960 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
|
410.350 |
|
|
|
Changes in inventories of finished goods, work in progress |
|
|
(22.214) |
|
|
|
Employee Benefit Expense |
|
|
98.231 |
|
|
|
Other Expenses |
|
|
51.822 |
|
|
|
TOTAL (B) |
|
|
538.189 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
73.771 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
29.185 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
44.586 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
20.818 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
23.768 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
8.607 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
15.161 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
2.040 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
|
12.500 |
|
|
BALANCE CARRIED
TO THE B/S |
|
|
4.701 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Fob Value of Sales Hingna Unit |
|
|
55.364 |
|
|
|
Fob Value of Sales Butibori
Unit |
|
|
134.758 |
|
|
TOTAL EARNINGS |
|
|
190.122 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
3.96 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
510.373 |
330.241 |
|
|
|
Other Income |
|
2.194 |
0.911 |
|
|
|
TOTAL (A) |
|
512.567 |
331.152 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing |
|
344.620 |
195.115 |
|
|
|
Personnel |
|
71.621 |
49.647 |
|
|
|
Administrative Expenses |
|
46.700 |
34.069 |
|
|
|
Increase/Decrease in Stock |
|
(3.451) |
12.231 |
|
|
|
TOTAL (B) |
|
459.490 |
291.062 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
53.077 |
40.090 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
19.612 |
15.048 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
33.465 |
25.042 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
16.885 |
15.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
16.580 |
9.721 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
6.107 |
5.952 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
10.472 |
3.769 |
|
|
|
|
|
|
|
|
|
Less |
Income Tax Relating Previous
Year |
|
0.186 |
0.044 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
4.198 |
0.309 |
|
|
|
Transfer
to capital Reserve |
|
0.056 |
0.164 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
|
12.500 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
|
2.040 |
4.198 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Fob Value of Sales Hingna Unit |
|
45.606 |
26.182 |
|
|
|
Fob Value of Sales Butibori
Unit |
|
119.053 |
52.592 |
|
|
TOTAL EARNINGS |
|
164.659 |
78.774 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
272.383 |
158.254 |
|
|
|
Stores & Spares |
|
31.019 |
11.808 |
|
|
TOTAL IMPORTS |
|
303.402 |
170.062 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
2.86 |
1.03 |
|
Expected Sales (2012-2013) : Rs.720.000 Millions
The above information has been parted by Mr. Sarvesh Sharma.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.48
|
2.04
|
1.14
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.91
|
3.25
|
2.94
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.29
|
4.32
|
3.29
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.18
|
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.90
|
2.95
|
2.84
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
2.73
|
2.44
|
LOCAL AGENCY FURTHER INFORMATION
THE DETAILS OF
SUNDRY CREDITORS
(Rs.
In Millions)
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
Sundry Creditors |
78.713 |
74.283 |
56.610 |
DETAILS OF UNSECURED LOAN
(Rs. In Millions)
|
Unsecured Loan |
As
on 31.03.2012 (Rs.
in Millions) |
As
on 31.03.2011 (Rs.
in Millions) |
|
Loans and advances |
|
|
|
From related
parties |
|
|
|
- Arun Bhandari |
0.000 |
30.166 |
|
- Rohini Bahndari |
0.000 |
|
|
|
|
|
|
From non-related
parties |
|
|
|
- Shivkisan Agrawal (HUF) |
4.000 |
|
|
- Natraj Advisory Services Private Limited |
10.000 |
|
|
- Novelty Commotrade Private Limited |
0.000 |
|
|
- Sushil Kumar Agrawal(HUF) |
0.000 |
|
|
Total |
14.000 |
30.166 |
|
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 |
Yes |
|
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 |
No |
|
34] |
External Agency Rating, if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U24110MH1974PLC017301 |
|
Name of the company |
STAR CIRCLIPS AND ENGINEERING LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
B – 24, MIDC Area, Hingna Industrial Estate, Hingna, Nagpur – 440016, Maharashtra, India E-Mail Id : starclip@satyam.net.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of charge holder |
Axis Bank Limited, M. G. House, Rabindranath Tagore Road, Civil Lines, Nagpur - 440001, Maharashtra, India E-mail Id : k.chengappa@axisbank.com |
|
Nature of instrument creating charge |
Composite hypothecation deed |
|
Date of instrument Creating the charge |
23.11.2012 |
|
Amount secured by the charge |
Rs.239.600 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Terms of Repayment Working Capital: On Demand Term Loan: 47 monthly installments of Rs. 1.300 Millions and 48th installment of Rs. 1.000 Millions. Margin i) CC, WCDL and FCDL: 25% on Raw Material, Stock in Process, Finished Goods and Pkg. Material, Stores and spare and Book debts. ii) EPC/PCFC/FBP/FBD/PSCFC/EBRD: 10% iii) LC and Bank Guarantee: 25% Cash Margin iv) TL: N.A. Extent and Operation of the charge First charge by way of hypothecation of all the present and future Stocks and Book Debts, Plant and Machinery and other movables of the Company to secure credit facilities of Rs. 239.600 Millions (TL of Rs. 62.100 Millions, CC limit of Rs. 140.000 Millions, WCDL (Sub limit of CC) of Rs. 30.000 Millions, FCDL (Sub limit of CC) of Rs. 30.000 Millions, EPC/PCFC/FBP/FBD/PSCFC/EBRD (Sub Limit of CC) of Rs. 60.000 Millions, LC limit of Rs. 30.000 Millions, Bank Guarantee of Rs. 2.500 Millions and LER limit of Rs. 5.000 Millions). |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
Hypothecation of all the present and future Stocks and Book Debts, Plant and Machinery and other movables of the Company. |
FIXED ASSETS
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 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.54.64 |
|
|
1 |
Rs.88.17 |
|
Euro |
1 |
Rs.73.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.