MIRA
INFORM REPORT
|
Report Date : |
30.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER SEALS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
17/8, D-1 Block, MIDC Chinchwad, Pune – 411019, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
28.12.1998 |
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Com. Reg. No.: |
25-013165 |
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Capital
Investment / Paid-up Capital : |
Rs. 13.000 millions |
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|
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CIN No.: [Company Identification
No.] |
U01112PN1998PTC013165 |
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|
|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Reed Valves, Oil Seals and Metal to Rubber Bonded
Items. |
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 820000 |
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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. Trade
relations are fair. Business is active. Payments are reported to be usually
correct and as per commitments. 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 |
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High |
B2 |
|
Very High |
C1 |
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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 : |
17/8, D-1 Block, MIDC Chinchwad, Pune – 411019, |
|
Tel. No.: |
91-20-27477408/65110286/4111951 |
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Fax No.: |
91-20-27477408/27458848 |
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E-Mail : |
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Website : |
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Works and Office: |
20/8, D-1 Block, MIDC, Chinchwad, Pune – 411019, Maharashtra, India |
|
Tel. No.: |
91-20-39511879/39511887/39511885, 32511885/886 |
|
Fax No.: |
91-20-66111951/953 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mrs. Anguridevi Pannalal Gupta |
|
Designation : |
Director |
|
Address : |
458/27A Ponta Nigdi, Pune – 411044, |
|
Date of Appointment : |
28.12.1998 |
|
DIN No.: |
01185771 |
|
|
|
|
Name : |
Mrs. Kaushilya Ramdhari Agarwal |
|
Designation : |
Director |
|
Address : |
Plot No.174, Sector 24, Pradhilaran, Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Appointment : |
28.12.1998 |
|
DIN No.: |
01678790 |
|
|
|
|
Name : |
Mr. Vinodkumar Surajbhan Bansal |
|
Designation : |
Director |
|
Address : |
427/27A Ponta Nigdi, Pune – 411044, Maharashtra, India |
|
Date of Appointment : |
28.12.1998 |
|
DIN No.: |
01678799 |
|
|
|
|
Name : |
Mr. Mohan Panalal Gupta |
|
Designation : |
Director |
|
Address : |
458/27A Ponta Near Trimurly Hall Resi 1–Phase, Nigdi, Pune – 411044,
Maharashtra, India |
|
Date of Appointment : |
28.12.1998 |
|
DIN No.: |
01679127 |
MAJOR SHAREHOLDERS
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Mohan Pannalal Gupta |
|
185000 |
|
Kaushalaya Ramdhari Agarwal |
|
62008 |
|
Vinod Surajbhan Bansal (HUF) |
|
102008 |
|
Anguridevi Pannalal Gupta |
|
125000 |
|
Usha Gupta |
|
60000 |
|
Pannalal Gupta |
|
60000 |
|
Mohan Pannalal Gupta (HUF) |
|
59973 |
|
Ramdhari Surajbhan Agarwal (HUF) |
|
20000 |
|
Ramdhari Surajbhan Agarwal |
|
70000 |
|
Rajeev Bansal |
|
30000 |
|
Shakuntala V Bansal |
|
80000 |
|
Raghunate Agarwal |
|
1 |
|
Shantidevi Agarwal |
|
1 |
|
Sulochana Agarwal |
|
1 |
|
Usha Vijay Agarwal |
|
1 |
|
S. T. Agarwal |
|
1 |
|
M.S. Bansal |
|
1 |
|
Vinod S Bansal |
|
1 |
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Madhu Purshottam Garg |
|
1 |
|
Amit R Gupta |
|
1 |
|
Ashok R Gupta |
|
1 |
|
P.G. Gupta (HUF) |
|
1 |
|
Hemang Ramesh Chewari |
|
1 |
|
Vidyadevi J Mittal |
|
1 |
|
More Marketing Private Limited, India |
|
1 |
|
M. P Gupta (HUF) |
|
1 |
|
Trident Mercantile Private Limited, India |
|
1 |
|
Saroj Khusiram Goyal |
|
1 |
|
Pokharkar Engineering Products Private Limited, India |
|
320010 |
|
MKK ZIP Fastners Private Limited, India |
|
125984 |
|
Total |
|
1300000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
34.30 |
|
Directors or relatives of Directors |
65.70 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Reed Valves, Oil Seals and Metal to Rubber Bonded
Items. |
GENERAL INFORMATION
|
Customers : |
· Force Motors Limited · Cummins India Limited · Dana India Limited · Fleet Guard Filters India Private Limited · Gabriel India Limited. · Greaves Limited · Bosch Chassis Systems India Limited · Kinetic Engineering Limited · Lumax Industries Limited · Mahindra and Mahindra Limited · Motherson Sumi Systems Limited · Onida Savak Limited · Piaggio Vehicles Private Limited · Rane Nastech Limited · Renowned Auto Products Manufacturing Limited. · Spicer India Limited · Tata Motors Limited · International Cars and Motors Limited ·
Asia Motors Works |
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No. of Employees : |
Not Available |
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Bankers : |
·
Citi Bank N. A., Trent House, 2nd floor, G Block,
Plot No.C60, Bandra Kurla Complex, Bandra (e), Mumbai - 400051, Maharashtra,
India ·
Axis Bank Limited, Pimpri Chinchwad Branch, Balwant Chapekar
Chowk, Pune - 411033, Maharashtra, India |
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Facilities : |
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Note: Term Loan from Axis Bank
Limited The Company has four term loans outstanding as on
31st March 2012 which were taken from Axis Bank Limited Details thereof are
as follows:- 1. Term Loan
Account No 1434 was sanctioned by Axis Bank Limited amounting to Rs. 21.000
millions at the interest rate of Base rate + 3.25% in August, 2006. It is
repayable in 60 installment of Rs. 0.350 Millions from February 2007 2. Term Loan
Account No. 0299 was sanctioned by Axis Bank Limited. Amounting to Rs. 16.500
millions at the interest rate of Base rate +
3.25% in January, 2011. It is repayable in 47 installment of Rs. 0.345
millions from February 201 land last Installment of Rs.0.285 millions due on
January, 2015. 3. Term
Loan Account No. 3116 was sanctioned by Axis Bank Limited amounting to Rs.
23.500 millions at the interest rate of Base rate + 3.25% in January, 2011.
It is repayable 111) in 12 installment
of Rs. 0.200 millions 4. From
September 2011, next 24 installments of Rs. 0.300 from September 2012, next
23 installments of Rs. 0.580 millions from September 2014 and last
installment of Rs. 0.560 due on August 2016. 5. Term
Loan Account No. 6780 was sanctioned by Axis
Bank Limited amounting to Rs. 24.750 millions at the interest rate of Base
rate + 3.25% in December, 2012. It is repayable in 53
installment of Rs. 0.458 millions from July 2013 and last installment of Rs.
0.476 Millions due on November 2017. Deferred Sales Tax (Govt,
of Maharashtra) Deterred Sales Tax (Govt, of Maharashtra) is the
deferral of sales tax as per the scheme of Govt, of Maharashtra and its
repayment wilt be starting from April 2013. No interest is payable on such
amount. The company has also taken the benefit of Deferred Sales Tax of
Jayashree Polymers Private Limited, which will be repaid to Jayashree
Polymers Private Limited, repayment of which will also start from April 2013. Loan from Related Parties The Company has taken unsecured loan from its
directors and their relatives at the interest rate of 12%. These loans are
repayable at the discretionary power of Board of Directors. |
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Banking
Relations : |
------ |
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Auditors : |
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|
Name : |
L. B. Laddha and Company Chartered Accountant |
|
Address : |
Flat No. 7 and 8, Second Floor, Sukhwani Chambers, Station Road,
Pimpri, Pune – 411018, Maharashtra, India |
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Tel. No.: |
91-20-27426966/27420547 |
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E-Mail : |
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PAN No.: |
AAJPL1258Q |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1300000 |
Equity Shares |
Rs.10/- each |
Rs. 13.000 Millions |
|
|
|
|
|
|
PARTICULARS |
No.of
Shares |
Amount (Rs
in Millions) |
|
Outstanding at the beginning of the period |
980000 |
9.800 |
|
Add: Issued during the year |
320000 |
3.200 |
|
Outstanding at the end of period |
1300000 |
13.000 |
Details of Shareholders holding
more than 5% shares in Company
Equity Shares
|
PARTICULARS |
No. |
% holding |
|
Mohan Gupta |
185,000 |
14.23% |
|
Vinod S Bansal (HUF) |
102,008 |
7.85% |
|
Anguridevi P Gupta |
125,000 |
9.62% |
|
Mohan Pannalal Gupta (HUF) |
59,973 |
4.61% |
|
Pannalal Gupta |
60,000 |
4.62% |
|
Usha Gupta |
60,000 |
4.62% |
|
Kaushalya R Agarwal |
62,008 |
4.77% |
|
Ramdhari S Agarwal |
70,000 |
5.38% |
|
Shakuntala V Bansal |
80,000 |
6.15% |
|
Pokharkar Engg Products Private Limited |
320,010 |
24.62% |
|
MKK ZIP Fastners Private Limited |
125,984 |
9.69% |
Terms/Rights attached to
the Equity Shares
The company has only one class of
Equity Shares having par value of Rs.10 each. Each Equity holder is entitled to
one vote per share.
The Board of Directors has
recommended a dividend of 40% (Rs. 4.00/- per share) for the financial year.
In the event of Liquidation of
the Company, the holders of Equity shares will be entitled to receive remaining
assets of the company, after distribution of al! Preferential amounts. The
distribution will be in proportion to the number of equity shares held.
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 |
13.000 |
9.800 |
9.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
193.851 |
132.212 |
114.185 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
206.851 |
142.012 |
123.985 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
198.528 |
180.870 |
116.644 |
|
|
2] Unsecured Loans |
19.600 |
16.127 |
21.169 |
|
|
TOTAL BORROWING |
218.128 |
196.997 |
137.813 |
|
|
DEFERRED TAX LIABILITIES |
13.610 |
12.439 |
11.801 |
|
|
|
|
|
|
|
|
TOTAL |
438.589 |
363.754 |
273.599 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
234.269 |
174.183 |
158.339 |
|
|
Capital work-in-progress |
1.468 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
10.402 |
15.682 |
11.746 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
122.144
|
98.176
|
74.435
|
|
|
Sundry Debtors |
172.709
|
145.946
|
86.896
|
|
|
Cash & Bank Balances |
8.052
|
8.739
|
3.959
|
|
|
Other Current Assets |
2.073
|
16.262
|
6.319
|
|
|
Loans & Advances |
33.402
|
17.324
|
17.265
|
|
Total
Current Assets |
338.380
|
286.447 |
188.874 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
116.073
|
100.318
|
73.787
|
|
|
Other Current Liabilities |
20.008
|
10.301
|
9.308
|
|
|
Provisions |
9.849
|
1.939
|
2.264
|
|
Total
Current Liabilities |
145.930
|
112.558 |
85.359 |
|
|
Net Current Assets |
192.450
|
173.889 |
103.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
438.589 |
363.754 |
273.599 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
888.444 |
737.120 |
477.478 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
808.904 |
668.373 |
418.039 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
79.540 |
68.747 |
59.439 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
18.090 |
15.635 |
12.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
61.450 |
53.112 |
47.045 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.853 |
19.456 |
16.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
36.597 |
33.656 |
30.514 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.114 |
11.074 |
10.140 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
24.483 |
22.582 |
20.374 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.211 |
4.184 |
8.382 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
20.000 |
|
|
|
Dividend |
5.200 |
3.920 |
3.920 |
|
|
|
Tax on Dividend |
0.844 |
0.635 |
0.651 |
|
|
BALANCE CARRIED
TO THE B/S |
0.650 |
2.211 |
4.185 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1.276 |
20.580 |
(1.114) |
|
|
TOTAL EARNINGS |
1.276 |
20.580 |
(1.114) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
55.646 |
|
|
|
Capital Goods |
NA |
NA |
7.391 |
|
|
TOTAL IMPORTS |
NA |
NA |
63.037 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
18.83 |
23.04 |
20.79 |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.76
|
3.06
|
4.27
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.39
|
11.75
|
8.75
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.24
|
0.25
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.76
|
2.18
|
1.80
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.32
|
2.54
|
2.23
|
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 |
Yes |
|
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 |
No |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U01112PN1998PTC013165 |
|
Name of the
company |
PREMIER SEALS (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
17/8 D-1 Block MIDC Chinchwad, Pune - 411019, Maharashtra, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
90087090 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Axis Bank Limited, Pimpri Chinchwad Branch, Balwant Chapekar Chowk,
Pune – 411033, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum of
Entry (Extension of
Equitable Mortgage) Memorandum of
Entry (Equitable
Mortgage by Deposit of Title deeds) |
|
Date of
instrument Creating the charge |
21.05.2012 |
|
Amount secured by
the charge |
Rs. 213.350
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter of the Bank Terms of
Repayment As per sanction
letter of the Bank Margin As per sanction
letter of the Bank Extent and Operation of the charge (Rs. in Millions )Cash Credit 87.500 Term Loan IV 21.000 Term Loan V 27.100 Term Loan VI 16.500 Term Loan
VII 23.500 BG Limit 1.000 ------------------------------------------------- Total 176.600 Others Term Loan
VIII(New)- 24.750 Term Loan IX
(New)- 12.000 ------------------------------------------------------------ Total 213.350 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
·
Plot
No 20/8 in D-1 Block of the pimpri Industrial area at MIDC situated at Village
Akurdi, Taluka Haveli Dist Pune admn 6708 sq.mtrs. ·
Plot
No 17/10 in D-1 Block of the Pimpri Industrial Area of MIDC situated at
Village Akurdi Tal. Haveli Dist Pune admn 600 sq.mtrs. ·
Plot
No 17/8 in D-1 Block of the Pimpri
Industrial Area of MIDC situated at Village Akurdi Tal.Haveli Dist Pune admn
690 sq.mtrs ·
Land
property bearing Gut No/ S No 368 situated at Village Aichale, Taluka Sakri
Dist Dhule admn ·
Plot
No 458 Sector No 27A Village Akurdi, Taluka Haveli Dist Pune containing by a
measurement 405 sq.mtrs. ·
All
that piece and parcel of land Industrial use i.e area admn 00H, 92 R our of
total area admeasuring 01 H 92 R of Gat NO 599 Hissa No 1/A, being and lying
at Village Mahalunge, Tal Khed Dist Pune ·
from
the Gat No 599/2B and Gat No 599/2C. |
|
Particulars of
the present modification |
By present
extension of Equitable Mortgage dtd
21.05.2012,charge extended on properties situated at Plot No 20/8,Plot
No 17/10 and Plot No 17/8 at D-1 Block
of the Pimpri Industrial area at MIDC , Akurdi and property at
Gat/S No 368 , Village Aichale, Taluka Sakri ,Dhule,and Plot No 458
Sector No 27A Akurdi for enhanced CC limit Rs.7.500 Millions and By Fresh
Equitable mortgage, charge created on property at Gat No 599/2B and Gat No
599/2C , Mahalunge, Khed ,Pune for new term loans of Rs.36.750 Millions . |
OPERATION
The performance during the year was satisfactory. The sales increased by 21% while profit after tax increased by 8%.
Company has purchased new land in Chakan Mahalunge MIDC
area and started construction in FY 2012-13 and construction will be completed
in same year. Company will start manufacturing operation in that plant after
competion. Company will get VAT / Sales Tax incentive from Maharashtra
government for setting up unit in that area.
Windmills at Satara and Dhule are performing satisfactorily.
FIXED ASSETS
- Land
- Building
- Plant and machinery
- Dies and Moulds
- Furniture
- Office equipments
- Vehicles
- Computers
- Electrical Installation
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.53.89 |
|
|
1 |
Rs.84.92 |
|
Euro |
1 |
Rs.72.51 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPN |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.