MIRA
INFORM REPORT
|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
VISHAKHA POLYFAB PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 549/2, Village Vadsar
Taluka Kalol, District Ghandhinagar, Vadsar-382721, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.12.1993 |
|
|
|
|
Com. Reg. No.: |
04-020968 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.52.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ1993PTC020968 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMV00284E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV6439R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Plastic high barrier Flexible
Packaging. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1056000 |
|
|
|
|
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 good. 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 for normal 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 |
CARE |
|
Rating |
Long term bank facilities BBB- |
|
Rating Explanation |
Having moderate degree of safety regarding
timely servicing of financial obligation. It carry moderate credit risk |
|
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 / Factory / Admin / International Business
Division : |
Plot No. 549/2, Village Vadsar Taluka
Kalol, District Ghandhinagar, Vadsar-382721, |
|
Tel. No.: |
91-2764-281048 / 581 / 582 |
|
Fax No.: |
91-2764-281795 / 64281735 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Vishakha House, Ashirwad Paras Corporate House, Corporate Road, Prahladnagar, Ahmedabad- 380015, Gujarat India |
|
Tel. No.: |
91-79-61907373 |
|
Fax No.: |
91-79-61907340 |
DIRECTORS
As on: 06.09.2012
|
Name : |
Mr. Kamal Daulalji Moondra |
|
Designation : |
Director |
|
Address : |
22, Kaushalya Bunglows, Ramdevnagar, Ahmedabad, |
|
Date of Birth/Age : |
05.05.1958 |
|
Date of Appointment : |
06.01.2001 |
|
DIN No.: |
00019671 |
|
Voter ID No. : |
LBR4878351 |
|
|
|
|
Name : |
Mr. Jigish Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
6, Shrusht Bunglows, Ashwamegh, 4B Extn 132 Ring Road, Satellite,
Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
17.01.1961 |
|
Date of Appointment : |
10.12.1999 |
|
DIN No.: |
00380192 |
|
PAN No. |
AAAFJ5281G |
|
Voter ID No. : |
LBR8527038 |
|
|
|
|
Name : |
Mr. Bhadresh Nagindas Doshi |
|
Designation : |
Director |
|
Address : |
26, Shrusht Bunglows, Ashwamegh, 4B Extn 132 Ring Road, Satellite,
Ahmedabad-380015, Gujarat, India |
|
Date of Birth/Age : |
08.02.1956 |
|
Date of Appointment : |
08.06.2000 |
|
DIN No.: |
00380239 |
|
PAN No. |
AAJPD6032C |
|
Voter ID No. : |
ZCU2604320 |
|
|
|
|
Name : |
Mr. Jayesh Hasmukhlal Shah |
|
Designation : |
Director |
|
Address : |
2, Adesh Flats, 14, Dharnidhar Society, Near Dharnidhar Derasar, Vanna,
Ahmedabad - 380007, Gujarat, India |
|
Date of Birth/Age : |
04.10.1965 |
|
Date of Appointment : |
28.05.2010 |
|
DIN No.: |
03085675 |
|
Voter ID No. : |
GJ/11/068/516223 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 06.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jigish Doshi |
|
2010199 |
|
Bgadresh Doshi |
|
357125 |
|
Umesh Doshi |
|
277175 |
|
Jigish Nagindas Doshi (Nominee of M/s. Labdhi International ) |
|
500 |
|
Adani Wilmar Limited, |
|
2645000 |
|
Jigish Nagindas Doshi (Nominee of Vishakha industries ) |
|
1 |
|
|
|
|
|
Total |
|
5290000 |
As on: 06.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
50.00 |
|
Directors or relatives of Directors |
50.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Plastic high barrier Flexible
Packaging. |
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|
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|
||||
|
Products : |
|
GENERAL INFORMATION
|
Customers : |
|
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|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Dharmesh Parikh and Company Chartered Accountants |
|
Address : |
303 / 304, Milestone , Near Drive in Cinema, Opposite, T. |
|
PAN No. : |
AAGFD1279G |
|
|
|
|
Related Parties : |
CIN No. U24130GJ2011PTC064073
CIN No. U15146GJ1999PLC035320
CIN No. U15142GJ2002PLC066005
CIN No. U74999GJ2008PTC0660066
CIN No. U85110GJ1995PLC067038
CIN No. U15143MP1998PTC013182 |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5290000 |
Equity Shares |
Rs.10/- each |
Rs.52.900 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
52.900 |
49.200 |
|
(b) Reserves & Surplus |
|
211.307 |
183.478 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
264.207 |
232.678 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
260.637 |
292.487 |
|
(b) Deferred tax liabilities (Net) |
|
21.553 |
23.071 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
3.623 |
0.000 |
|
Total Non-current Liabilities (3) |
|
285.813 |
315.558 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
278.748 |
170.228 |
|
(b) Trade payables |
|
337.492 |
179.283 |
|
(c) Other current
liabilities |
|
90.213 |
108.607 |
|
(d) Short-term provisions |
|
1.712 |
5.081 |
|
Total Current Liabilities (4) |
|
708.165 |
463.199 |
|
|
|
|
|
|
TOTAL |
|
1258.185 |
1011.435 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
413.589 |
410.489 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
85.785 |
9.194 |
|
(iv)
Intangible assets under development |
|
0.825 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
11.316 |
22.087 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
511.515 |
441.770 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
380.238 |
277.044 |
|
(c) Trade receivables |
|
226.608 |
209.959 |
|
(d) Cash and cash
equivalents |
|
27.033 |
28.365 |
|
(e) Short-term loans and
advances |
|
86.318 |
45.420 |
|
(f) Other current assets |
|
26.473 |
8.877 |
|
Total Current Assets |
|
746.670 |
569.665 |
|
|
|
|
|
|
TOTAL |
|
1258.185 |
1011.435 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
45.500 |
|
|
2] Share Application Money |
|
|
20.000 |
|
|
3] Reserves & Surplus |
|
|
152.871 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
218.371 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
196.293 |
|
|
2] Unsecured Loans |
|
|
109.983 |
|
|
TOTAL BORROWING |
|
|
306.276 |
|
|
DEFERRED TAX LIABILITIES |
|
|
16.803 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
541.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
322.086 |
|
|
Capital work-in-progress |
|
|
21.341 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
128.276 |
|
|
Sundry Debtors |
|
|
127.208 |
|
|
Cash & Bank Balances |
|
|
21.097 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
60.931 |
|
Total
Current Assets |
|
|
337.512 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5.465 |
|
|
Other Current Liabilities |
|
|
92.429 |
|
|
Provisions |
|
|
41.595 |
|
Total
Current Liabilities |
|
|
139.489 |
|
|
Net Current Assets |
|
|
198.023 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
541.450 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
876.601 |
687.018 |
|
|
|
Other Income |
|
10.589 |
15.655 |
|
|
|
TOTAL (A) |
1099.828 |
887.190 |
702.673 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Material Cost |
|
582.200 |
459.663 |
|
|
|
Manufacturing and Other Expenses |
|
172.484 |
132.485 |
|
|
|
Selling and Distribution
Expenses |
|
10.757 |
5.912 |
|
|
|
Preliminary Expenses W / off |
|
0.000 |
0.262 |
|
|
|
TOTAL (B) |
938.892 |
765.441 |
598.322 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
160.936 |
121.749 |
104.351 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
85.152 |
41.466 |
19.525 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
75.784 |
80.283 |
84.826 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
61.137 |
55.464 |
35.154 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.647 |
24.819 |
49.672 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.483 |
8.771 |
15.387 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
12.164 |
16.048 |
34.285 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
57.898 |
53.571 |
31.948 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
10.000 |
10.000 |
|
|
|
Dividend |
0.529 |
1.476 |
2.275 |
|
|
|
Tax on Dividend |
0.086 |
0.245 |
0.387 |
|
|
BALANCE CARRIED
TO THE B/S |
59.447 |
57.898 |
53.571 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
83.262 |
28.264 |
|
|
TOTAL EARNINGS |
NA |
83.262 |
28.264 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
394.358 |
248.587 |
|
|
|
Capital Goods |
NA |
5.167 |
80.022 |
|
|
TOTAL IMPORTS |
NA |
399.525 |
328.609 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.30 |
3.44 |
7.30 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.10
|
1.81 |
4.88 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.83 |
7.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.26
|
2.53 |
7.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.11 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.04
|
1.99 |
1.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.23 |
2.42 |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External
Agency Rating, if available |
Yes |
UNSECURED LOAN:
|
Particulars |
31.03.2012 [Rs.
in Millions] |
31.03.2011 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Other external commercial
borrowings |
68.343 |
79.274 |
|
Loans and advance from related parties |
112.122 |
12.500 |
|
|
|
|
|
Total |
180.465 |
91.774 |
BANKER CHARGES
REPORT AS PER REGISTRY:
|
Corporate
identity number of the company |
U17110GJ1993PTC020968 |
|
Name of the
company |
VISHAKHA
POLYFAB PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 549/2, Village Vadsar
Taluka Kalol, District Ghandhinagar, Vadsar-382721, Gujarat, India E-Mail info@vishakhapolyfab.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10076837 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
State Bank of India, Commercial Branch, Paramsiddhi
Complex, Opposite V. S. Hospital,
Ellisbridge, Ahmedabad - 380006, Gujarat, India E-Mail kr.reddy@sbi.co.in |
|
Nature of
instrument creating charge |
Enhancement
of charge of hypothecation over the entire Current Asset (Present and Future)
of the company and Equitable Mortgage over the Fixed Asset of the company by
way of execution of Supplemental Hypothecation Agreement (C-2A) and
Memorandum of Deposit of Title Deeds (C-10A) respectively for the increase in
the overall limit sanctioned to the company as per the attached sanction
letter. |
|
Date of
instrument Creating the charge |
29.12.2012 |
|
Amount secured by
the charge |
Rs. 779.700 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interest: CC: 2% above BR, TL-I, TL-II, TL-III and Corporate loan: 2.25% above
BR Term
of Payment: CC payable on demand, TL-I, TL-II and Corporate Loan as
per original repayment schedule; TL-III as per revised repayment schedule as
per attached sanction letter No: CBA/ADV/RM V/04 dated 29.12.2012 Margin: RM, SIP, FG and Store and Spare: 25% Receivable (cover period 90 days): 30% Export Packing Credit (% of FOB value of the order/LC) :10% Letter of Credit: 10% BG (Sub, imit of LC): 10% Extent and
operation of the charge: As per Sanction letter No: CBA/ADV/RM V/04 dated
29.12.2012 and also as per attached Memorandum of deposit as well as
Supplemental Hypothecation agreement for enhancement of charge. |
|
Short particulars
of the property charged (Including location of the property) |
Entire
Immovable properties situated at Block no 549 (admeasuring 6085 sq. mtrs) and
550 (admeasuring 4638 sq. mtrs) at
Village Vadsar, Taluka Kalol, District Gandhinagar and the property located
situated at Block No. C-2, Corporate House known as "ASHIRWAD PARAS"(admeasuring
852.44 sq. mtrs) which includes Ground floor,2nd floor,3rd floor, 4th floor,
entire terrace, lift, cellar parking loading, unloading etc. And open land and undivided share
(admeasuring 404.73 sq. mtrs), bearing sub Plot No.2 of final Plot No.9, in
the Scheme No. 25. Vejalpur (sim), Taluka: City District: Ahmedabad-380004 as
well as Entire current assets and movable properties including plant and
machineries (present and future) of the company situated at above places,
excluding Vehicles and 7 and 9 layer main plant. |
|
Date of last modification prior to the present modification |
19.10.2012 |
|
Particulars of the present modification |
Charge
extended from Rs.725.600 millions to Rs.779.700 millions by way of Mortgage
and hypothecation over immovable and movable Current Assets (present and future)
and as situated at Block No. 549 (admeasuring 6085 sq. mtrs), Block No. 550
(admeasuring 4638 sq. mtrs), Village Vadsar, Taluka Kalol, District
Gandhinagar and Block No. C-2, Corporate House known as "ASHIRWAD
PARAS", mouje: Vejalpur (sim), Taluka : City, District: Ahmedabad-380004
of the company. |
COMPANY’S PERFORMANCE:
The Company has
been able to sustain its overall performance in terms of consistent growth in turnover
and market share. The growth in business operations fortifies the confidence
shown in the company by its existing customer as well as new customer due to
the continued assurance of those services. The company has achieved the
production of 8771 MT during the year, as compared at 7319 MT of last year.
The company’s nine
layers Nylon/EVOH based high barrier film manufacturing machine, with an annual
capacity of 2400 MT, has achieved its optimum capacity, even though some slow
down in general Industry trend. During the last quarter of the financial year,
the has installed New 5 layer line machine with an annual installed capacity of
2400 Mt. However, the commercial production was started in current financial.
Turnover increased
by 23% to Rs. 1087.008 millions as compared to Rs. 884.793 millions last year.
The Company posted the performance with Profit before Tax of Rs. 14.647
millions, which is lower as compared to 24.819 millions of last year, due
higher interest, raw material and depreciation cost. The net profit after tax
at Rs.12.164 millions as against Rs.16.048 millions of the last year.
FIXED ASSETS:
- Freehold land
- Computer
- Plant and
machinery
- Electrical
Installation
- Furniture
- Office
Equipments
- Vehicles
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.59.90 |
|
|
1 |
Rs.90.88 |
|
Euro |
1 |
Rs.78.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.