1. Summary Information
|
Country |
|
||
|
Company Name |
GODAVARI POLYMERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Venkateshwar Rao Cheekoti |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rajendra Kumar Chekilla |
|
Registration # |
01-011620 |
||
|
Street Address |
315, Minerva Complex, S.D. Road, Secunderabad – 500003, Andhra
Pradesh, India |
||
|
Established Date |
22.08.1990 |
SIC Code |
-- |
|
Telephone# |
91-40-27842092 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-40-27819467 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
HDPE Pipes |
|
|
# of employees |
Not Available |
Product Name 2 |
Fittings |
|
Paid up capital |
Rs. 36,535,000 /- |
Product Name 3 |
Sprinkler |
|
Shareholders |
Directors or relatives of Directors – 100 % |
Banking |
State
Bank of Hyderabad |
|
Public Limited Corp. |
No |
Business Period |
23 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives |
India |
Godavari Plasto Containers Private
Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
521,542,000 |
Current Liabilities |
327,874,000 |
|
Inventories |
119,791,000 |
Long-term Liabilities |
255,356,000
|
|
Fixed Assets |
146,931,000 |
Other Liabilities |
23,156,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
606,386,000 |
|
Invest& other Assets |
451,000 |
Retained Earnings |
145,794,000 |
|
|
|
Net Worth |
182,329,000 |
|
Total Assets |
788,715,000 |
Total Liab. & Equity |
788,715,000 |
|
Total Assets (Previous Year) |
753,981,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
1,488,500,000 |
Net Profit |
25,979,000 |
|
Sales(Previous yr) |
1,219,694,000 |
Net Profit(Prev.yr) |
43,229,000 |
|
Report Date : |
10.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
GODAVARI POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
315, Minerva Complex, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.08.1990 |
|
|
|
|
Com. Reg. No.: |
01-011620 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 36.535 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134AP1990PTC011620 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDG01490G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACG7496H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of HDPE Pipes, Fittings, Sprinkler and Drip Irrigation Systems. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 730000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears slight dip in the profitability during 2012. However, general financial position seems to be strong. Trade
relations are reported to be fair. 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 condition. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limit: “BB+” |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
Date |
March, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Sales
and |
315, Minerva Complex, |
|
Tel. No.: |
91-40-27842092 |
|
Fax No.: |
91-40-27819467 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Sales and Service Centers : |
Also located at: v
Pune v
Hyderabad v
Jaipur v
Madurai v
Hubli v
Chennai v
Nagpur v
Bangalore |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Venkateshwar Rao Cheekoti |
|||||||||||||||||||||||||||
|
Designation : |
Managing Director |
|||||||||||||||||||||||||||
|
Address : |
3-6-731, Himayath
Nagar, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.08.1965 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
22.08.1990 |
|||||||||||||||||||||||||||
|
DIN No.: |
00987499 |
|||||||||||||||||||||||||||
|
Other
Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Rajendra Kumar Chekilla |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
2/2/23/22/9A,
Durgabhai Deshmukh Colony, Baghamberpet, |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.08.1960 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
22.08.1990 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
C. Chandra Praksh |
|
150000 |
|
C. Janardhan Rao |
|
57000 |
|
C. Rajendra Kumar |
|
1255146 |
|
C. Venkateshwar Rao |
|
1250074 |
|
C. Ramesh Kumar |
|
219000 |
|
K. Sarat Kumar |
|
3869 |
|
C. Manjula |
|
6054 |
|
C. Parineeta |
|
218800 |
|
C. Pavitra Laxmi |
|
1127 |
|
C. Sudha Rani |
|
139842 |
|
C. Sashi Rekha |
|
15218 |
|
C. Mamatha |
|
65500 |
|
C. Sharada |
|
30870 |
|
C. Harika |
|
241000 |
|
Total |
|
3653500 |
Allottees as on 30.03.2013
|
Names of Allottees |
|
No. of Shares |
|
C. Chandra Praksh |
|
25000 |
|
C. Janardhan Rao |
|
6000 |
|
C. Rajendra Kumar |
|
350000 |
|
C. Venkateshwar Rao |
|
555000 |
|
C. Ramesh Kumar |
|
37500 |
|
C. Parineeta |
|
70000 |
|
C. Sudha Rani |
|
27500 |
|
C. Mamatha |
|
15000 |
|
C. Sharada |
|
8000 |
|
C. Harika |
|
27500 |
|
C. Ram Kumar |
|
20000 |
|
C. Satyavani |
|
5000 |
|
Total |
|
1146500 |
As on 28.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of HDPE Pipes, Fittings, Sprinkler and Drip
Irrigation Systems. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Hyderabad, Commercial Branch, Surya Towers, S.P. Road, Secunderabad - 500003, Andhra Pradesh, India · HDFC Bank Limited · Citi Bank · Barclays Bank · Standard Charted Bank · Corporation Bank · ABN Amro Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institution : |
Tata Capital Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Gokhale and Company Chartered Accountants |
|
Address : |
3-6-322, Off No.306, Mahaveer House, Basheerbagh, Hyderabad – 500029, Andhra Pradesh, India |
|
Tel. No. : |
91-40-23221167 / 23228874 |
|
E-Mail : |
|
|
PAN No. : |
AAFFG3439E |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners with Key management personnel and
their relatives : |
· Godavari Plasto Containers Private Limited, India CIN No.: U25209AP1997PTC027255 · Badri Exports Private Limited, India CIN No.: U51909AP2006PTC052118 |
CAPITAL STRUCTURE
After 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4800000 |
Equity Shares |
Rs.10/- each |
Rs. 48.000 Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3660000 |
Equity Shares |
Rs.10/- each |
Rs. 36.600 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3653500 |
Equity Shares |
Rs.10/- each |
Rs. 36.535 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
36.535 |
|
(b) Reserves & Surplus |
|
|
145.794 |
|
(c) Money
received against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
|
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
|
182.329 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
|
12.900 |
|
(b) Deferred tax liabilities (Net) |
|
|
5.013 |
|
(c) Other long term
liabilities |
|
|
3.940 |
|
(d) long-term
provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
21.853 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
|
242.456 |
|
(b) Trade
payables |
|
|
295.574 |
|
(c) Other
current liabilities |
|
|
28.360 |
|
(d) Short-term
provisions |
|
|
18.143 |
|
Total Current
Liabilities (4) |
|
|
584.533 |
|
|
|
|
|
|
TOTAL |
|
|
788.715 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
|
146.931 |
|
(ii)
Intangible Assets |
|
|
0.000 |
|
(iii)
Capital work-in-progress |
|
|
0.000 |
|
(iv)
Intangible assets under development |
|
|
0.000 |
|
(b) Non-current Investments |
|
|
0.451 |
|
(c) Deferred tax assets (net) |
|
|
0.000 |
|
(d) Long-term Loan and Advances |
|
|
7.435 |
|
(e) Other
Non-current assets |
|
|
0.000 |
|
Total Non-Current
Assets |
|
|
154.817 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
|
0.000 |
|
(b)
Inventories |
|
|
119.791 |
|
(c) Trade
receivables |
|
|
451.416 |
|
(d) Cash
and cash equivalents |
|
|
47.142 |
|
(e)
Short-term loans and advances |
|
|
9.539 |
|
(f) Other
current assets |
|
|
6.010 |
|
Total
Current Assets |
|
|
633.898 |
|
|
|
|
|
|
TOTAL |
|
|
788.715 |
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
23.000 |
18.000 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
124.061 |
86.688 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
147.061 |
104.688 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
156.240 |
66.508 |
|
|
2] Unsecured Loans |
|
141.692 |
104.609 |
|
|
TOTAL BORROWING |
|
297.932 |
171.117 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
444.993 |
275.805 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
139.781 |
99.456 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.451 |
0.351 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
149.786
|
52.179 |
|
|
Sundry Debtors |
|
407.369
|
231.635 |
|
|
Cash & Bank Balances |
|
1.866
|
5.538 |
|
|
Other Current Assets |
|
48.486
|
30.815 |
|
|
Loans & Advances |
|
6.242
|
6.098 |
|
Total
Current Assets |
|
613.749
|
326.265 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
271.835
|
121.812 |
|
|
Other Current Liabilities |
|
13.572
|
11.758 |
|
|
Provisions |
|
23.581
|
16.697 |
|
Total
Current Liabilities |
|
308.988
|
150.267 |
|
|
Net Current Assets |
|
304.761
|
175.998 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
444.993 |
275.805 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1488.500 |
1219.694 |
870.284 |
|
|
|
Other Income |
31.410 |
18.786 |
14.708 |
|
|
|
TOTAL (A) |
1519.910 |
1238.480 |
884.992 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of |
933.871 |
704.492 |
489.855 |
|
|
|
Manufacturing Expenses |
-- |
120.943 |
82.352 |
|
|
|
Benefits to Employees |
83.940 |
51.309 |
39.425 |
|
|
|
Administrative Expenses |
-- |
26.704 |
16.856 |
|
|
|
Selling Expenses |
-- |
154.540 |
128.265 |
|
|
|
Project Expenses |
-- |
48.645 |
44.957 |
|
|
|
Changes in Inventory |
29.995 |
-- |
-- |
|
|
|
Other Expenses |
338.970 |
-- |
-- |
|
|
|
Exceptional Items |
1.645 |
-- |
-- |
|
|
|
TOTAL (B) |
1388.421 |
1106.633 |
801.710 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
131.489 |
131.847 |
83.282 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST & FINANCIAL
EXPENSES (D) |
78.931 |
59.183 |
37.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
52.558 |
72.664 |
45.839 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
12.787 |
8.835 |
6.749 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
39.771 |
63.829 |
39.090 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.792 |
20.600 |
13.342 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.979 |
43.229 |
25.748 |
|
|
|
|
|
|
|
|
|
|
Income Tax Prior Period |
0.000 |
(3.140) |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
3.654 |
2.300 |
1.800 |
|
|
|
Dividend Distribution Tax |
0.593 |
0.382 |
0.000 |
|
|
|
Transfer to General Reserve |
21.732 |
37.407 |
23.948 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
9.70 |
18.80 |
14.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.71
|
3.49
|
2.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.67
|
5.23
|
4.49 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.05
|
8.47
|
9.18 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.43
|
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.40
|
2.03
|
1.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.08
|
1.99
|
2.17 |
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 |
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 |
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 |
PRODUCT
PERFORMANCE
The products manufactured by the company are of high quality and most of them are having certification from Bureau of Indian Standards. Company has processed and sold a quantity of 4161154 meters during the year 2011-12 and complaints / defects are very low [less than .01%]. This is been achieved due to high manufacturing standards and good manufacturing practices followed at production level. The manufacturing plant is certified with ‘Quality Management Systems’ and by TUV of Germany under ISO: 9001 series, though the certification is in force from more than five years continual improvement in the process is practiced by the company in every area of operation.
OUTLOOK
Overall the outlook for company is very bright and positive in years to come. The putting up of the new plant which will manufacture the existing product lines along with some of the items currently bought from outside /outsourced in is advanced stage and the production is slated to commence by October 2013.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
|
Long term
borrowings |
|
|
Loan from Related Parties |
0.149 |
|
Loan from Others |
3.924 |
|
Short term
borrowings |
|
|
From Banks |
2.055 |
|
From Others |
107.521 |
|
Total |
113.649 |
|
Particulars |
31.03.2011 (Rs.
in Millions) |
|
Loans |
137.752 |
|
Sales Tax
Deferment |
3.940 |
|
Total |
141.692 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24134AP1990PTC011620 |
|
Name of the
company |
GODAVARI POLYMERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
315, Minerva Complex, E-mail: finance@godavaripipe.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10034586 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
State Bank of Hyderabad, Commercial Branch, Surya Towers, S.P. Road, Secunderabad - 500003, Andhra Pradesh, India E-mail: comml_secbad@sbhyd.co.in
|
|
Nature of
instrument creating charge |
1. Supplemental
Agreement of Hypothecation of Goods and Assets for Increase in the overall
limit. 2. Supplemental
Agreement of Loan for increase in the overall limit. 3. Supplemental
Agreement of pledge of goods and assets for increase in the overall limit. 4. Letter
regarding the grant of individual limits within the overall limit. |
|
Date of
instrument Creating the charge |
26.07.2012 |
|
Amount secured by
the charge |
Rs. 518.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit :
4.5% above (Base Rate of 10.5% at present) currently 15% floating with
monthly rests. Term Loan : 5%
above Base Rate (floating) currently 15.5% at present with monthly rests. Terms of Repayment On Demand Margin Raw Materials -
25%, Stock-in-process
- 25%, Finished Goods -
25%, Letter of Credit
and Bank Guarantee - 15%, Book Debts/receivables
(Normally 90 days, 180 days in case of Govt. Supplies) : 35%, Land and
Buildings/Plant and Machinery : 33.62% Extent and Operation of the charge as security for
the due re-payment of the
loan/facilities aggregating to
Rs.518.500 millions extended by the Bank to the Company, along with interest, penal
interest, costs and other expenses, if any. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Goods and Assets
hypothecated and charged in favour of the bank by this and under the earlier
agreements shall be and stand charged in favour of bank as continuing
security by way of first charge. |
|
Particulars of
the present modification |
This modification
is being filed for enhancement credit
limits from Rs.404.700 millions to Rs.518.500 millions as detailed below: 1) Cash Credit
(Hyp) Limit of Rs.200.000 millions with Sub-limit of Bills Discounting Under
LC (Rs. 30.000 millions) 2) Letter of
Credit (Inland and Foreign) Limit of Rs.180.000 millions 3) Bank Guarantee
Limit of Rs. 100.000 millions and 4) Term Loan
Limit of Rs.38.500 millions. |
FIXED ASSETS
· Land (Factory)
· Buildings (Factory)
· Buildings (Office)
· CWIP-Buildings
· Plant and Machinery
· Vehicles and Office Equipment
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.60.07 |
|
|
1 |
Rs.89.91 |
|
Euro |
1 |
Rs.77.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.