MIRA
INFORM REPORT
|
Report Date : |
27.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
INSTA EXHIBITIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
306, Garg Plaza, Local Shopping Centre, Sindhora Kalan, New Delhi –
110 052, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.01.2003 |
|
|
|
|
Com. Reg. No.: |
55-118523 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.126 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U92199DL2003PTC118523 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELI03966E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service Provider for Exhibition, Seminar, Fashion Show and Promotional
Show. |
|
|
|
|
No. of Employees
: |
500 Approximately (Contractual Worker include) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1400000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The company’s liquidity may remain stretched marked by high bank limit
utilization and advances and funding support to its associates concern. The
company is exposed to intense competition in the exhibition products and
solution industry. However, trade relations are fair. Business is active. Payment terms
are slow but correct. In view of experienced promoters, the company can be considered for
business dealings with some caution. |
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 |
Long term rating: B- |
|
Rating Explanation |
High risk of default |
|
Date |
31 December 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A4 |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
31 December 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 (GENERAL DETAILS)
|
Name : |
Mr. Raut |
|
Designation : |
Account Department |
|
Contact No.: |
91-22-28251806 |
|
Date : |
22.07.2013 |
LOCATIONS
|
Registered Office : |
306, Garg Plaza, Local Shopping Centre, Sindhora Kalan, New Delhi –
110 052, Delhi, India |
|
Tel. No.: |
91-11-23643339 / 23646305 / 8589 |
|
Mobile No.: |
91-9167995197 (Mr. Kriti Thokchom) |
|
Fax No.: |
91-11-23643375 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office/ Corporate office : |
B-602, |
|
Tel. No.: |
91-22-28251806 / 27/ 38 / 74 / 40649200 |
|
Fax No.: |
91-22-28251836 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
Located at ·
Pune ·
Gurgaon ·
Kolkata ·
Ahmedabad ·
Secunderabad ·
Chennai ·
Bangalore |
|
|
|
|
Works : |
·
Plot No. 14, Sector 8-A, Integrated Industrial
Estate, SIDCUL, BHEL, Ranipur, District Haridwar, (Uttaranchal), E-mail: haridwar@insta-group.com ·
Insta House, 1-A K. T. Industrial Estate,
Billalpada, |
|
|
|
|
Overseas Office : |
Located at ·
·
UAE ·
|
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Ved Prakash Kedia |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
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|
Address : |
BFH-90, Shalimar Bagh (W), |
|||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.07.1981 |
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|
Date of Appointment : |
16.01.2003 |
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DIN No.: |
00293412 |
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Other Directorship:
|
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|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Rajnikant Sharawan Kedia |
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|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-603, Laksh Chandi Apartment, Gokul Dham, Goregaon (E), Mumbai – 400
063, |
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|
Date of Birth/Age : |
06.01.1975 |
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|
Date of Appointment : |
16.01.2003 |
|||||||||||||||||||||||||||||||||||||||||||||
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DIN No.: |
00712396 |
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Other Directorship:
|
||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mahesh Sharwankumar Kedia |
|||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
B-603, Laksh Chandi Apartment, Gokul Dham, Goregaon (E), Mumbai – 400
063, |
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|
Date of Appointment : |
16.01.2006 |
|||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00321944 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Raut |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Rajnikant Kedia |
|
280100 |
|
Rajnikant Kedia HUF |
|
100720 |
|
Mahesh Kedia |
|
56710 |
|
Sharwan Kumar Kedia |
|
137780 |
|
Sharwan Kumar Kedia HUF |
|
25000 |
|
Ved Prakash Kedia |
|
468982 |
|
Sangeeta Kedia |
|
45740 |
|
Preeti Kedia |
|
2450 |
|
Insta Vat Reclaim Private Limited |
|
134500 |
|
Insta Retail Solutions Private Limited |
|
38500 |
|
Santosh Kedia |
|
5570 |
|
Chivas Capital Limited |
|
4000 |
|
Deepak Modi |
|
1000 |
|
Life Style Products Private Limited |
|
2500 |
|
PCB Consultants |
|
4000 |
|
Poonam Bansali |
|
1500 |
|
Range Trading and Investment
Private Limited |
|
2000 |
|
Varinda Hosiery Industries Limited |
|
1500 |
|
TOTAL |
|
1312552 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Bodies corporate |
13.94 |
|
Directors or relatives of Directors |
85.56 |
|
Other |
0.50 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service Provider for Exhibition, Seminar, Fashion Show and Promotional
Show. |
|
|
|
|
Products : |
·
Exhibit Solutions ·
Portable Solutions ·
Modular Solutions ·
Custom Built Exhibit ·
Display Solutions ·
Solutions for Activation |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||
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|
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No. of Employees : |
500 Approximately (Contractual Worker include) |
||||||||||||||||||||||||||||||||||||
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|
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Bankers : |
|
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|
||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Chachan and Lath Chartered Accountant |
|
Address : |
303 and 307 Garg Plaza, Near Gulabi Bagh, Telephone Exchange, Gulabi
Bagh, Delhi – 110 052, India |
|
Tel. No.: |
91-11-23654483 / 23655495 |
|
Fax No.: |
91-11-23655495 |
|
E-Mail : |
|
|
PAN.: |
AABFC7580J |
|
|
|
|
Overseas Subsidiary
Companies: |
·
Expo Display Holding AG, Bauma,
Switzerland · US Insta Group Inc. |
|
|
|
|
Fellow Subsidiaries: |
·
Expo Display Service AG, Bauma,
Switzerland ·
Expo Display Service GmbH Germany ·
Expo Display Service, SA, France ·
Expo Display & Graphic Service
BV, Holland ·
Expo Display Service Handelsges
MBH, Austria ·
Exhibition Solution, Belgium |
|
|
|
|
Joint Venture: |
·
E.D.S Middle East (LLC), Dubai,
UAE |
|
|
|
|
Associates: |
·
Insta Vat Reclaim Private Limited ·
Insta Retail Solutions Private
Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1312552 |
Equity Shares |
Rs.10/- each |
Rs. 13.126
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 |
|
13.126 |
12.541 |
|
(b) Reserves & Surplus |
|
335.660 |
225.227 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
7.250 |
8.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
356.036 |
245.768 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
49.705 |
107.915 |
|
(b) Deferred tax liabilities (Net) |
|
8.932 |
7.678 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
12.820 |
7.368 |
|
Total Non-current Liabilities (3) |
|
71.457 |
122.961 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
161.789 |
135.107 |
|
(b) Trade payables |
|
117.495 |
64.578 |
|
(c) Other current
liabilities |
|
144.990 |
108.094 |
|
(d) Short-term provisions |
|
47.015 |
22.156 |
|
Total Current Liabilities (4) |
|
471.289 |
329.935 |
|
|
|
|
|
|
TOTAL |
|
898.782 |
698.664 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
121.052 |
109.027 |
|
(ii) Intangible Assets |
|
3.617 |
2.239 |
|
(iii) Capital
work-in-progress |
|
0.311 |
0.401 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
95.133 |
95.133 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
186.056 |
176.097 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current Assets |
|
406.169 |
382.897 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
73.192 |
61.379 |
|
(c) Trade receivables |
|
237.594 |
155.403 |
|
(d) Cash and cash
equivalents |
|
7.446 |
8.308 |
|
(e) Short-term loans and
advances |
|
170.497 |
88.663 |
|
(f) Other current assets |
|
3.884 |
2.014 |
|
Total Current Assets |
|
492.613 |
315.767 |
|
|
|
|
|
|
TOTAL |
|
898.782 |
698.664 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
12.541 |
|
|
2] Share Application Money |
|
|
0.200 |
|
|
3] Reserves & Surplus |
|
|
177.414 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
190.155 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
248.204 |
|
|
2] Unsecured Loans |
|
|
20.180 |
|
|
TOTAL BORROWING |
|
|
268.384 |
|
|
DEFERRED TAX LIABILITIES |
|
|
6.979 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
465.518 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
107.548 |
|
|
Capital work-in-progress |
|
|
1.119 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
95.133 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
53.028 |
|
|
Sundry Debtors |
|
|
103.773 |
|
|
Cash & Bank Balances |
|
|
5.627 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
173.530 |
|
Total
Current Assets |
|
|
335.958 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
34.546 |
|
|
Other Current Liabilities |
|
|
23.472 |
|
|
Provisions |
|
|
16.302 |
|
Total
Current Liabilities |
|
|
74.320 |
|
|
Net Current Assets |
|
|
261.638 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.080 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
465.518 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
469.701 |
|
|
|
Other Income |
|
|
12.452 |
|
|
|
TOTAL (A) |
933.278 |
644.787 |
482.153 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials and Stand Construction |
|
|
216.407 |
|
|
|
Direct Expenses |
|
|
20.471 |
|
|
|
Administrative Expenses |
|
|
34.723 |
|
|
|
Personnel Expenses |
|
|
78.146 |
|
|
|
Selling Expenses |
|
|
32.365 |
|
|
|
Amortization of Miscellaneous Expenses |
|
|
0.041 |
|
|
|
Increase / (Decrease) in Stock |
|
|
(2.215) |
|
|
|
TOTAL (B) |
815.945 |
585.585 |
379.938 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
102.215 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
|
|
28.508 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
117.333 |
59.202 |
73.707 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.761 |
8.455 |
7.548 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
107.572 |
50.747 |
66.159 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.780 |
2.934 |
13.567 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
81.792 |
47.813 |
52.592 |
|
|
|
|
|
|
|
|
|
Less |
SHORT/EXCESS
PROVISION ON INCOME / DEFERRED TAX |
0.000 |
0.000 |
0.370 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
99.873 |
72.060 |
39.838 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
20.000 |
20.000 |
20.000 |
|
|
BALANCE CARRIED
TO THE B/S |
161.665 |
99.873 |
72.060 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Service Charges -
Exhibitions |
237.457 |
228.267 |
62.917 |
|
|
|
Value of Exports |
144.860 |
84.786 |
45.183 |
|
|
|
Interest Received |
24.702 |
16.040 |
9.759 |
|
|
TOTAL EARNINGS |
407.019 |
329.093 |
117.859 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw
Materials |
9.137 |
11.287 |
8.668 |
|
|
|
Finished
Products |
20.814 |
8.728 |
7.503 |
|
|
|
Print
& Other Items |
1.679 |
1.452 |
3.035 |
|
|
TOTAL IMPORTS |
31.630 |
21.467 |
19.206 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
62.32 |
NA |
41.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.76
|
7.42 |
10.91
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
14.09
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.40
|
8.41 |
14.92
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.21 |
0.35
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59
|
0.99 |
1.41
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
0.96 |
4.51
|
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 |
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) |
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 |
OPERATIONS
During the year, the
company has posted a turnover of Rs. 852.000 Millions, an increase of about
39.60% as compared to Rs. 610.300 Millions in the previous Financial Year. The company
recorded a net profit after tax of Rs. 81.800 Millions as compared to Rs.
47.800 Millions in the corresponding previous financial year increase of about
71.12%. The company could achieve a rise in overall profitability through a
judicious mix of strategies and cost control measures.
FUTURE OUTLOOK
The Company continues its
forward march in manufacturing world class products. The experience gained from
the local operations has served as a learning curve for the Swiss venture. All
this will have a positive impact on the company's operation in the years to
come.
The Directors have an
overall Bullish outlook on the industry in general and the company in
particular. The company continues its commitment to match international
standards in quality and designing. Setting up of overseas ventures have helped
the company in achieving new milestones in the company's evolution from being a
supplier to manufacturer since it commenced operations to foray into retailing
overseas.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
From Directors |
2.909 |
18.550 |
|
From Body Corporate |
0.000 |
2.448 |
|
Short-term
borrowings |
|
|
|
From Body Corporate |
29.928 |
35.487 |
|
From Shareholders |
0.000 |
0.980 |
|
Total |
32.837 |
57.465 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10392611 |
20/12/2012 |
10,000,000.00 |
Small Industries Development Bank of India
|
11-13, Atlanta Building, 209, First Floor,
V.K Sh |
B64386790 |
|
2 |
10372165 |
22/08/2012 |
32,000,000.00 |
Small Industries Development Bank of India
|
11-13, Atlanta Building, 209, First Floor,
V.K. S |
B56253818 |
|
3 |
10372163 |
21/08/2012 |
32,000,000.00 |
Small Industries Development Bank of India
|
11-13, Atlanta Building, 209, First Floor,
V.K. S |
B56253511 |
|
4 |
10270748 |
24/02/2011 |
20,000,000.00 |
Small Industries Development Bank of India
|
11-13, Atlanta Building,, 209, First
Floor, VK Sh |
B07273436 |
|
5 |
10180391 |
02/09/2011 * |
2,000,000.00 |
Citibank N. A. |
Trent House, 2nd Floor, G Block, Plot
No.C60, Bandra Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra,
India |
B32338584 |
|
6 |
10180378 |
02/09/2011 * |
38,000,000.00 |
Citibank N. A. |
Trent House, 2nd Floor, G Block, Plot
NO.C60, Bandra Kurla Complex, Bandra (East), Mumbai- 400051, Maharashtra,
India |
B32337578 |
|
7 |
10176732 |
16/09/2009 |
27,500,000.00 |
Small Industries Development Bank of India
|
11-13, Atlanta Building,, 209, first
floor, VK Sh |
A70300934 |
|
8 |
10162995 |
23/05/2009 |
7,500,000.00 |
Axis Bank Limited |
Fort Branch, Universal Insurance Building
Sir P.M. |
A63964266 |
|
9 |
10023426 |
31/01/2013 * |
148,000,000.00 |
Axis Bank Limited |
Corproate Banking Branch, Axis House,
Ground Floor, Bombay Dyingmill Compound, P.B. Marg, Worli, Mumbai- 400025,
Maharashtra, India |
B68781749 |
CONTINGENT
LIABILITIES:
The contingent liabilities
are as follow:
·
Against
Bank Guarantee for Export Obligation as on the date of Balance Sheet are
Rs.4.017 Millions/- (previous year: Rs.1.213 Millions) and against Letter of
credit are Rs.1.634 Millions (previous
year: Nil)
·
Against
Income Tax demand for assessment year 2008-2009 Rs.1.695 Millions (Previous
year: Nil)
·
Against
sales tax demand for financial year 2008-2009 Rs.0.697 Millions ( Previous
year: Nil)
FIXED ASSETS
Tangible Assets
·
Leasehold Land
·
Office Building
·
Factory Building
·
Plant and Equipment
·
Computer and Allied
Equipment
·
Furniture and Fixtures
·
Office Equipments
·
Motor Vehicle
Intangible Assets
·
Computer Software
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.58.91 |
|
|
1 |
Rs.90.68 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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.