MIRA
INFORM REPORT
|
Report Date : |
16.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
MITTAL APPLIANCES LIMITED (w.e.f. 15.09.1995) |
|
|
|
|
Formerly Known
As : |
MITTAL APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No.13, 1st Floor, Swastik Industrial Estate, 178, Vidyanagari
Marg, Kalina, Mumbai – 400098, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
19.01.1985 |
|
|
|
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Com. Reg. No.: |
11-174619 |
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|
|
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Capital Investment
/ Paid-up Capital : |
Rs.21.920
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28122MH1985PLC174619 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1903A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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Line of Business
: |
Manufacturer and Exporter of Aluminium Utensils, Sheets, Circles, Aluminium and Copper Alloy Ingots and
Strips, Copper and Copper Alloy. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
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 1200000 |
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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 a satisfactory track record. Trade relations are reported as decent. Business is active. Payment
terms are reported as usually correct and as per commitments. The company can be considered 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.
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 |
17.01.2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Vipin Jain |
|
Designation : |
Account Manager |
|
Contact No.: |
91-731-3011800 |
|
Date : |
15.07.2013 |
LOCATIONS
|
Registered Office : |
Unit No.13, 1st Floor, Swastik Industrial Estate, 178,
Vidyanagari Marg, Kalina, Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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|
Head/ Corporate Office : |
303, Apollo Trade Centre, Geeta Bhavan Square, A.B. Road, Indore –
452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-3091800 |
|
Fax No.: |
91-731-3044753 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No.75, Industrial Area No. II, Pithampur, Dhar – 454775, Madhya
Pradesh, India |
|
Tel No.: |
91-7292-329590/ 93 |
|
|
91-7292-256738 |
|
|
DIRECTORS
(AS ON 29.09.2012)
|
Name : |
Mr. Dinesh Chand Mittal |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Manak 15A/22, |
|
Date of Birth/Age : |
04.02.1951 |
|
Qualification : |
MBA Finance |
|
Experience : |
32 years |
|
Date of Appointment : |
01.08.1990 |
|
DIN No.: |
00127385 |
|
|
|
|
Name : |
Mr. Anshul Mittal |
|
Designation : |
Executive Director |
|
Address : |
Manak 15A/22, |
|
Date of Birth/Age : |
27.07.1977 |
|
Qualification : |
B.S. in Industrial Engineering |
|
Experience : |
12 years |
|
Date of Appointment : |
01.01.1996 |
|
DIN No.: |
00139786 |
|
PAN No.: |
AFDPM4778H |
|
|
|
|
Name : |
Mr. Navneet Bagree |
|
Designation : |
Director |
|
Address : |
14/1, New Palasia, Princess Squre, Indore – 452001, Madhya Pradesh,
India |
|
Date of Birth/Age : |
30.05.1977 |
|
Date of Appointment : |
10.03.2005 |
|
DIN No.: |
00184281 |
|
|
|
|
Name : |
Mr. Anil Kumar Sharma |
|
Designation : |
Director |
|
Address : |
EK-293, Scheme No. 54, Vijay Nagar, Indore-452010, |
|
Date of Birth/Age : |
28.03.1968 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
00216361 |
|
|
|
|
Name : |
Mr. Harsh Kumar Maheshwary |
|
Designation : |
Director |
|
Address : |
502-B, Manavsthal II, Gokul Dham, Goregaon (East), Mumbai-400063,
Maharashtra, India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
10.03.2005 |
|
DIN : |
00088660 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2012)
|
Names of Shareholders |
No. of
Preferences Shares |
No. of Equity
Shares |
|
Rajrani Mittal |
-- |
460000 |
|
Anshul Mittal |
-- |
252000 |
|
Dinesh Chand
Mittal (HUF) |
-- |
67000 |
|
Ankit Mittal |
-- |
275000 |
|
Rajshree Finsec
Private Limited, India |
-- |
100000 |
|
Rajshree Overseas
Private Limited, |
-- |
50000 |
|
Network Capital Market Limited, |
-- |
150000 |
|
Shweta Mittal |
-- |
38000 |
|
Manavhit Developers Private Limited, |
-- |
20000 |
|
Ananya Buildcon and Real Estate Private Limited, |
-- |
20000 |
|
Dharohar Infrastructure Private Limited, |
-- |
20000 |
|
Treasure Buildcon Private Limited, |
-- |
20000 |
|
Feel Home Real Estate Private Limited, |
-- |
20000 |
|
Anshul Developers Private Limited, |
500000 |
200000 |
|
|
|
|
|
Total |
500000 |
1692000 |
(AS ON 30.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies
corporate |
|
35.46 |
|
Directors
or relatives of directors |
|
64.54 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Aluminium Utensils, Sheets, Circles, Aluminium and Copper Alloy Ingots and
Strips, Copper and Copper Alloy. |
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Products : |
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Exports : |
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Products : |
· Aluminium Utensils · Sheets · Circles · Aluminium and Copper Alloy Ingots and Strips · Copper and Copper Alloy |
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|
Countries : |
Germany |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
· Germany · UAR · Dubai · Kuwait |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed Capacity |
Installed Capacity |
|
|
|
|
|
|
Aluminum Wares etc |
Qty. in MT |
1500 |
900 |
|
Casting of Mac. Pats of ferrous, non ferrous and alloys |
Qty. in MT |
820 |
820 |
|
Foundry, casting and alloys foundry, brass, copper nickel strips,
ingots etc. |
Qty. in MT |
1200 |
1200 |
|
Aluminum circles |
Qty. in MT |
600 |
600 |
|
Copper, copper alloys coil, sheet, strips, billets, ferrous and non
ferrous items, C.N. coin blanks |
Qty. in MT |
2000 |
2000 |
ACTUAL PRODUCTION:
|
Particular |
Production Qty. in MT |
|
|
|
|
Alu. Division (Aluminium Utensils, Circles,
Alloy Scrap) |
0 |
|
Alu. Utensil, Circle, Alloys (Job Work) |
0 |
|
Copper / Nickel Alloys |
5428 |
|
C.N. Strips and Brass Coil (Job Work) |
11 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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|
Bankers : |
·
UCO Bank Gram Pipliahana, Tilak Nagar, ·
Bank of India Mid Corporate Branch, · ICICI Bank Indore, Madhya Pradesh, India · Axis Bank Indore, Madhya Pradesh, India |
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Facilities : |
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|
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Mehta and Company Chartered Accountants |
|
Address : |
11/5, South Tukoganj, Nath Mandir Road, Indore – 452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-4065948/ 2511011/ 2511022 (O)/ 2431713/ 2523117 |
|
Mobile No.: |
91-9826294918 |
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Fax No.: |
91-731-2523117 |
|
PAN No.: |
AAGFM2167A |
|
Website : |
|
|
|
|
|
Associate
Companies |
· Ganagaram Mohanlal Mittal and Sons · Anshul Devlopers Private Limited · Manavhit Finvest Builders Private Limited · Antardhara Estate and Finvest Private Limited · Mittal Utensils Private Limited · Manak Utensils Private Limited · Mangalmaya Estate and Finvest Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
500000 |
10% Non Cumulative Redeemable Preferences
Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.155.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1692000 |
Equity Shares |
Rs.10/- each |
Rs.16.920
Millions |
|
500000 |
Preferences Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.21.920 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 |
|
21.920 |
21.920 |
|
(b) Reserves & Surplus |
|
271.848 |
224.785 |
|
(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) |
|
293.768 |
246.705 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
134.609 |
135.339 |
|
(b) Deferred tax liabilities (Net) |
|
25.674 |
26.418 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
6.080 |
5.758 |
|
Total Non-current
Liabilities (3) |
|
166.363 |
167.515 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
494.962 |
210.830 |
|
(b) Trade
payables |
|
727.526
|
678.427
|
|
(c)
Other current liabilities |
|
48.022
|
34.900
|
|
(d) Short-term
provisions |
|
4.148
|
9.773
|
|
Total Current
Liabilities (4) |
|
1274.658 |
933.930 |
|
|
|
|
|
|
TOTAL |
|
1734.789 |
1348.150 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
159.937 |
160.313 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
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 |
|
24.170 |
23.031 |
|
(e) Other Non-current
assets |
|
0.538 |
2.292 |
|
Total Non-Current
Assets |
|
184.645 |
185.636 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
367.946
|
275.217
|
|
(c)
Trade receivables |
|
640.615
|
552.563
|
|
(d) Cash
and cash equivalents |
|
403.760
|
211.137
|
|
(e)
Short-term loans and advances |
|
124.309 |
103.145 |
|
(f)
Other current assets |
|
13.514 |
20.452 |
|
Total
Current Assets |
|
1550.144 |
1162.514 |
|
|
|
|
|
|
TOTAL |
|
1734.789 |
1348.150 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
19.920 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
164.883 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
184.803 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
434.567 |
|
|
2] Unsecured Loans |
|
|
96.471 |
|
|
TOTAL BORROWING |
|
|
531.038 |
|
|
DEFERRED TAX LIABILITIES |
|
|
25.487 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
741.328 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
162.631 |
|
|
Capital work-in-progress |
|
|
2.676 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
351.334
|
|
|
Sundry Debtors |
|
|
130.324
|
|
|
Cash & Bank Balances |
|
|
90.995
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
134.150
|
|
Total
Current Assets |
|
|
706.803
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
90.245
|
|
|
Other Current Liabilities |
|
|
30.567
|
|
|
Provisions |
|
|
9.970
|
|
Total
Current Liabilities |
|
|
130.782
|
|
|
Net Current Assets |
|
|
576.021
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
741.328 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3732.456 |
2929.984 |
1388.755 |
|
|
|
Other Income |
21.266 |
9.918 |
56.385 |
|
|
|
TOTAL (A) |
3753.722 |
2939.902 |
1445.140 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3354.250 |
2431.984 |
|
|
|
|
Purchases of stock-in-trade |
178.573 |
89.256 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(133.305) |
135.469 |
|
|
|
|
Employee benefit expense |
31.728 |
29.012 |
|
|
|
|
Other Expenses |
174.375 |
132.497 |
|
|
|
|
TOTAL (B) |
3605.621 |
2818.218 |
1366.292 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
148.101 |
121.684 |
78.848 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
61.242 |
62.119 |
43.469 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
86.859 |
59.565 |
35.379 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
11.341 |
11.348 |
10.234 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
75.518 |
48.217 |
25.145 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
24.806 |
17.882 |
3.111 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
50.712 |
30.335 |
22.034 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
72.863 |
52.720 |
33.509 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.600 |
2.000 |
0.500 |
|
|
|
Proposed Dividend (Including Tax Thereon) |
3.531 |
3.193 |
2.323 |
|
|
BALANCE CARRIED
TO THE B/S |
117.326 |
72.863 |
52.720 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
461.700 |
266.300 |
275.400 |
|
|
TOTAL EARNINGS |
461.700 |
266.300 |
275.400 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
682.985 |
|
|
|
Stores & Spares |
NA |
NA |
9.920 |
|
|
|
Capital Goods |
NA |
NA |
1.281 |
|
|
TOTAL IMPORTS |
NA |
NA |
694.186 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.63 |
19.94 |
13.98 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
4630.000 |
The above information has been parted by Mr. Vipin Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.35
|
1.03
|
1.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.02
|
1.65
|
1.81 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.35
|
3.58
|
2.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.20
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.14
|
1.40
|
2.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.24
|
5.40 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM BORROWINGS DETAIL:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
|
|
|
|
|
Current Maturity of Long Term Borrowings |
15.499 |
18.202 |
Not Available |
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
|
|
Loan and Advance from Directors |
61.630 |
60.544 |
|
Loan and Advance from Others |
51.458 |
41.384 |
|
|
|
|
|
Total |
113.088 |
101.928 |
PERFORMANCES:
The total
Production of Copper Alloys, Coin Blanks, Strips and others Products during the
year was 6777 MT as compared to 5439 MT during last year. With the improvement
in the global economy and ongoing Coinage order from the India Government Mint,
the company achieved higher Sales and profitability during this year. The Sales
and Profit after Tax is Rs.4083.184 Millions and Rs.50.712 Millions as compared
to Rs.3180.309 Millions and Rs. 25.336 Millions during last year. The company
is hopeful to perform better in the Current year.
CONTINGENT LIABILITIES NOT PROVIDED FOR IN RESPECT OF:
|
Particulars |
31.03.2012 (Rs.
in millions) |
31.03.2011 (Rs.
in millions) |
|
|
|
|
|
Bank guarantees issued by Banks |
638.578 |
193.416 |
|
Letter of Credit opened by Banks |
735.474 |
403.317 |
|
Income Tax matter under disputed/ appeals |
12.987 |
7.215 |
|
Excise duty liability |
2.000 |
2.000 |
|
|
|
|
|
Total |
1389.039 |
605.948 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification (ID) number of the charge to be modified |
10282765 |
|
Corporate
identity number of the company |
U28122MH1985PLC174619 |
|
Name of the
company |
MITTAL APPLIANCES
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
402, Meridian Apartment, 3rd Wing, |
|
Type of charge |
Immovable
property Book Debts Movable Property
[not being pledge] |
|
Particular of
charge holder |
UCO Bank
Consortium Tilak Nagar,
Gram Pipliahana, Indore – 452001,
Madhya Pradesh, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry |
|
Date of
instrument Creating the charge |
10.10.2012 |
|
Amount secured by
the charge |
Rs.2343.700
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Terms of
Repayment On Demand Margin As per sanction
letter of the respective Banks. Extent and
Operation of the charge First Charge
created on the Borrower's stocks of Raw Materials, semi-finished and finished
goods, stores and repairs, not relating to P and M (Consumable stores and
spares), bills receivables, book debts and all other moveable’s of
Borrower's(excluding such moveable’s as are permitted by the said Banks from
time to time), etc. in favour of the said banks jointly and to each of them
severally and on the immovable property of the company situated at Plot no.
75, Industrial Area No. 3 Pithampur District Dhar (MP). |
|
Short particulars
of the property charged |
The whole of the
Current assets of the Borrower namely stocks of raw materials, stores and
spares including packing materials, stock in process, finished goods, bills
receivable and book debts and all other moveable’s including plant and
machineries, both present and future during the continuance of security of
these presents be bought into or upon or be stored or be in or about of the
Borrower's premises and godowns situated at Plot no. 75, Industrial Area No.
3 Pithampur District - Dhar, Madhya Pradesh Land measuring
12500 sq. mtrs, Buildings, Machineries embedded to the land situated at Plot
No. 75, Industrial Area Number 3 Pithampur District Dhar Madhya Pradesh |
|
Date of last modification prior to the present modification |
10/10/2012 |
|
Particulars of the present modification |
Extension of Charge on Immovable property of the company. |
FIXED ASSETS:
·
Land
·
Factory Building
·
Plant and Machinery
·
Scooter
·
Computer
·
Photo Copier
·
Laboratory Equipment
·
Dies and Moulds
·
Motor Cars
·
Fax
·
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.60.05 |
|
|
1 |
Rs.90.71 |
|
Euro |
1 |
Rs.78.47 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
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 |
YES |
|
--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 |
|
-- |
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.