MIRA
INFORM REPORT
|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAANIKA INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Block No.1053, Village Tadkeshwar, Mandvi-394160, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
10.02.2006 |
|
|
|
|
Com. Reg. No.: |
04-047710 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 19.848 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110GJ2006PTC047710 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS06375F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS6782P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Polyester Texturise Yarn (PDTY) |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 770000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company is performing well and has seen a growth in its sales
turnover as well as net profitability during 2012. The position of net worth
appears to be good. The ratings also take into consideration the established market
position of the subject in the textiles industry in surat and its increased
scale of operations. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. 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 – 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 |
CRISIL |
|
Rating |
BB (Long Term Rating) |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligation |
|
Date |
09.07.2012 |
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.
LOCATIONS
|
Registered Office / Factory: |
Block No.1053, Village Tadkeshwar, Mandvi-394160, |
|
Tel. No.: |
91-261-2463121 / 22 / 23 / 24 |
|
Fax No.: |
91-261-2463178 |
|
E-Mail : |
|
|
Area : |
2600 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
B-403-404, International Trade Centre, Majura Gate, Ring Road, Surat-395003,
Gujarat, India |
|
Tel. No.: |
91-261-2463121 / 2463122 / 2463121 |
|
Fax No.: |
91-261-2463178 |
|
E-Mail : |
DIRECTORS
AS ON 25.09.2012
|
Name : |
Mr. Omprakash Bholaram Agarwal |
|
Designation : |
Director |
|
Address : |
4-C, Sagar Apartment, Somnath Mahadev Mandir Road, Parle Point,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
06.11.1944 |
|
Date of Appointment : |
10.02.2006 |
|
PAN No.: |
ACXPA2866K |
|
DIN No.: |
00051971 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17114GJ1990PTC013899 |
VINEET
TEXTO TWIST PRIVATE LIMITED |
Director |
28-01-91 |
28-01-91 |
Active |
NO |
|
2 |
U17119GJ1991PTC015131 |
VINEET
SYNTHETICS PRIVATE LIMITED |
Managing
director |
24-06-11 |
27-02-91 |
Active |
NO |
|
3 |
U17119GJ1993PTC019441 |
VINEET
FIBERS PRIVATE LIMITED |
Director |
12-05-93 |
12-05-93 |
Active |
NO |
|
4 |
U17119GJ1994PTC022951 |
SARVESH
POLYESTERS PRIVATE LIMITED |
Director |
05-09-94 |
05-09-94 |
Active |
NO |
|
5 |
U17119GJ1996PTC031204 |
SRISHTI
SYNTHETICS PRIVATE LIMITED |
Managing
director |
01-02-07 |
29-11-96 |
Active |
NO |
|
6 |
U17110GJ2006PTC047710 |
SAANIKA
INDUSTRIES PRIVATE LIMITED |
Director |
10-02-06 |
10-02-06 |
Active |
NO |
|
7 |
U17120GJ2009PTC058182 |
VINEET
POLYFAB PRIVATE LIMITED |
Director |
24-09-09 |
24-09-09 |
Active |
NO |
|
Name : |
Mr. Sumit Omprakash Agarwal |
|
Designation : |
Director |
|
Address : |
4-C, Sagar Apartment, Somnath Mahadev Mandir Road, Parle Point,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
01.07.1974 |
|
Date of Appointment : |
01.11.2007 |
|
DIN No.: |
00051989 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17119GJ1994PTC022951 |
SARVESH
POLYESTERS PRIVATE LIMITED |
Director |
05-09-94 |
05-09-94 |
Active |
NO |
|
2 |
U17119GJ1991PTC015131 |
VINEET
SYNTHETICS PRIVATE LIMITED |
Director |
24-06-11 |
04-08-03 |
Active |
NO |
|
3 |
U17110GJ2006PTC047710 |
SAANIKA
INDUSTRIES PRIVATE LIMITED |
Whole-time
director |
01-11-07 |
01-11-07 |
Active |
NO |
|
4 |
U17120GJ2010PTC062916 |
ALLTEX
EXIM PRIVATE LIMITED |
Director |
16-11-10 |
16-11-10 |
Active |
NO |
|
5 |
U17120GJ2012PTC069937 |
ATLANTIA
YARNS PRIVATE LIMITED |
Director |
18-04-12 |
18-04-12 |
Active |
NO |
|
Name : |
Mr. Sanjaykumar Omprakash Agarwal |
|
Designation : |
Director |
|
Address : |
4-C, Sagar Apartment, Somnath Mahadev Mandir Road, Parle Point,
Surat-395007, Gujarat, India |
|
Date of Birth/Age : |
05.12.1968 |
|
Date of Appointment : |
10.02.2006 |
|
PAN No.: |
AAAHO1245D |
|
DIN No.: |
00052028 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17119GJ1993PTC019441 |
VINEET
FIBERS PRIVATE LIMITED |
Director |
26-10-94 |
26-10-94 |
Active |
NO |
|
2 |
U17119GJ1994PTC022951 |
SARVESH
POLYESTERS PRIVATE LIMITED |
Whole-time
director |
01-02-07 |
01-03-95 |
Active |
NO |
|
3 |
U17119GJ1996PTC031204 |
SRISHTI
SYNTHETICS PRIVATE LIMITED |
Director |
26-06-97 |
26-06-97 |
Active |
NO |
|
4 |
U17114GJ1990PTC013899 |
VINEET
TEXTO TWIST PRIVATE LIMITED |
Director |
15-03-05 |
15-03-05 |
Active |
NO |
|
5 |
U17110GJ2006PTC047710 |
SAANIKA
INDUSTRIES PRIVATE LIMITED |
Managing
director |
22-06-11 |
10-02-06 |
Active |
NO |
|
6 |
U17120GJ2009PTC058182 |
VINEET
POLYFAB PRIVATE LIMITED |
Director |
06-02-12 |
06-02-12 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2012
|
Names of Shareholders |
No. of Shares |
|
Om Prakash Agarwal |
147000 |
|
Sanjay Agarwal |
63550 |
|
Om Prakash Agarwal HUF |
102500 |
|
Sarvesh Polyester Private Limited, India |
166500 |
|
Sanjay Agarwala HUF |
49000 |
|
Anju Agarwal |
62500 |
|
Godavari Devi Agarwal |
120000 |
|
Shalu Agarwal |
105000 |
|
Sumit Agarwala |
45000 |
|
Vineet Fibres Private Limited, India |
120000 |
|
Vineet Texto-Twist Private Limited, India |
172500 |
|
Jignesh Shah |
10000 |
|
Ken Securities Limited, India |
37500 |
|
Vax Housing Finance Corporation Limited,
India |
37500 |
|
Vineet Synthetics Private Limited, India |
196000 |
|
Srishti Synthetics Private Limited, India |
190000 |
|
Sarthak Traders Private Limited, India |
25000 |
|
Shashi Devi Jalan |
25000 |
|
Rajesh Kumar Agarwal |
20000 |
|
Ramesh Agarwal |
35000 |
|
Evergreen Tradecom Private Limited, India |
25000 |
|
Destination Merchants Private Limited, India |
50000 |
|
Sumit Agarwala |
70000 |
|
Sulochna Gupta |
100 |
|
Binod Kumar Jasrasariya |
100 |
|
Sadashukh Dealer Private Limited, India |
50000 |
|
Cap Vanijya Private Limited, India |
30000 |
|
Newjet Trexim Private Limited, India |
30000 |
|
TOTAL
|
1984750 |
AS ON 25.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
56.93 |
|
Directors or relatives of Directors |
41.30 |
|
Other top fifty shareholders |
1.77 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyester Texturise Yarn (PDTY) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Mandarwaja Branch, Near Kinnary
Cinema, Ring Road Branch, Surat-395002, Gujarat, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
L P Nahata And Company Chartered Accountant |
|
Address : |
424, Ajanata Shopping Center, Ring Road, Surat-395002, Gujarat, India |
|
PAN No.: |
AANPN0582H |
|
|
|
|
Related Parties : |
Sarvesh Polyesters Private Limited CIN No.:- U17119GJ1994PTC022951 Vineet Fibers
Private Limited CIN No.:- U17119GJ1993PTC019441 Srishti
Synthetics Private Limited CIN No.:-
U17119GJ1996PTC031204 Vineet Texto
Twist Private Limited CIN No.:-
U17114GJ1990PTC013899 ·
Vineet Synthetics ·
Madhusudan Industries |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2150000 |
Equity Shares |
Rs.10/- each |
Rs. 21.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1984750 |
Equity Shares |
Rs.10/- each |
Rs. 19.848
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 |
|
19.848 |
19.848 |
|
(b) Reserves & Surplus |
|
175.150 |
128.310 |
|
(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) |
|
194.998 |
148.158 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
163.898 |
137.391 |
|
(b) Deferred tax liabilities (Net) |
|
0.763 |
0.763 |
|
(c) Other long term liabilities |
|
27.073 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
191.734 |
138.154 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
258.451 |
209.568 |
|
(b) Trade payables |
|
26.227 |
38.657 |
|
(c) Other current
liabilities |
|
114.732 |
117.963 |
|
(d) Short-term provisions |
|
8.307 |
9.180 |
|
Total Current Liabilities (4) |
|
407.717 |
375.368 |
|
|
|
|
|
|
TOTAL |
|
794.449 |
661.680 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
230.876 |
177.587 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
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 |
|
6.327 |
6.327 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
237.203 |
183.914 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
195.074 |
144.123 |
|
(c) Trade receivables |
|
181.792 |
211.419 |
|
(d) Cash and cash
equivalents |
|
19.295 |
3.672 |
|
(e) Short-term loans
and advances |
|
161.085 |
118.210 |
|
(f) Other current
assets |
|
0.000 |
0.342 |
|
Total Current Assets |
|
557.246 |
477.766 |
|
|
|
|
|
|
TOTAL |
|
794.449 |
661.680 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
17.848 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
87.078 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
104.926 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
199.946 |
|
|
2] Unsecured Loans |
|
|
28.958 |
|
|
TOTAL BORROWING |
|
|
228.904 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.763 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
334.593 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
131.155 |
|
|
Capital work-in-progress |
|
|
1.654 |
|
|
EXPENDITURE PENDING ALLOCATION |
|
|
0.885 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
84.923 |
|
|
Sundry Debtors |
|
|
150.260 |
|
|
Cash & Bank Balances |
|
|
2.928 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
27.081 |
|
Total
Current Assets |
|
|
265.192 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
15.368 |
|
|
Other Current Liabilities |
|
|
41.984 |
|
|
Provisions |
|
|
6.976 |
|
Total
Current Liabilities |
|
|
64.328 |
|
|
Net Current Assets |
|
|
200.864 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
334.593 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2409.340 |
2103.961 |
1172.181 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
2307.359 |
2025.953 |
1131.860 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
101.981 |
78.008 |
40.321 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
38.330 |
29.825 |
14.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
63.651 |
48.183 |
25.474 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
16.812 |
15.591 |
7.166 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
46.839 |
32.592 |
18.308 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
34.908 |
12.316 |
9.008 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
10.000 |
15.000 |
|
|
BALANCE CARRIED
TO THE B/S |
61.747 |
34.908 |
12.316 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1688.501 |
1357.808 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
23.60 |
16.42 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.94
|
1.55 |
1.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.01
|
7.28 |
6.43 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.33 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.17
|
2.34 |
2.18 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.27 |
4.12 |
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 |
No |
|
19] |
Payments terms |
No |
|
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 Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term
Borrowings |
|
|
|
Loans and Advances from Directors |
4.614 |
0.886 |
|
Loans and Advances from Others |
13.688 |
6.543 |
|
|
|
|
|
TOTAL |
18.302 |
7.429 |
NOTE
Registered Office
of the company has been shifted from C 226, Elbee Apartments,
PERFORMANCE DURING
THE YEAR AND FUTURE OUTLOOK
The Company has
posted healthy top line growth of 15% (YoY) during the year. During the year,
Revenues has grown to Rs. 2409.340 Millions. The Company has posted impressive
44% (YoY) growth in Net Profit to Rs. 46.839 Millions. Company is the leading
manufacturer of ecological textile product with its presence in more than 60
countries of world spread across five continents including Europe, Middle and
South East Asia and American Continent.
The key highlights and achievement of company are hereunder:
1.
The company is awarded with status of STAR EXPORT
HOUSE by Ministry of Commerce, Government of India.
2.
Company's products have been tasted by Oekoi Tex
Standardï 100 and certified as Tested for harmful substance' which is achieved
by the company by constant R and D and its commitment
3.
The Company is a leading textile exporter to more
than 60 countries across the globe
4.
Company has taken green initiative to conserve
natural resources and has set up a 1.25 MW Windmill Power Plant
5.
Company has expanded its texturising capacity by
installation of one texturising machine.
6.
Company manufactures packing items viz. paper tubes
for captive consumption to maintain its quality in export market
7.
Company has organized tour of various countries to
boost its sales in global market
8.
The export of textile products by company has grown
ten folds (YoY) in last two year as mentioned hereunder
|
Year |
Rs. In Millions |
|
2009-10 |
108.400 |
|
2010-11 |
1342.700 |
|
2011-12 |
1600.000 |
The Directors are confident
that farsighted vision, dedication and constant hard work put in by management
and employee of company will Endeavour to the efforts of company to be leader
in the business.
FIXED ASSETS
·
Building
·
Plant and Machinery
·
Computers
·
Furniture and Fixture
·
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. 59.39 |
|
|
1 |
Rs. 89.89 |
|
Euro |
1 |
Rs. 77.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
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 |
|
47 |
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.