MIRA
INFORM REPORT
|
Report Date : |
01.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
MRS.BECTORS FOOD SPECIALITIES LIMITED |
|
|
|
|
Registered
Office : |
Theing Road, Phillaur, Jalandhar - 144410 , Punjab |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
15.09.1995 |
|
|
|
|
Com. Reg. No.: |
16-033417 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 298.153 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899PB1995PLC033417 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM9495K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Food Products including Biscuits,
Confectionaries, Sauces etc. |
|
|
|
|
No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4970000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having good track record. Balance
Sheet statement for the year 2012 is not available. However, there seems a growth
in the turnover and profitability of the company during the year 2012. As per
previous year financial, the company seems to be performing well. Trade
relations are reported as fair. Business is active. Payments are reported to
be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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: A- |
|
Rating Explanation |
Adequate degree of safety and low credit risk. |
|
Date |
12th March 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A2+ |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
12th 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.
INFORMATION PARTED BY
|
Name : |
Mr. Reenu Bazaz |
|
Designation : |
Executive Assistant |
|
Date : |
29.05.2013 |
LOCATIONS
|
Registered/ Head Office/ Factory : |
Theing Road, Phillaur, Jalandhar - 144410, Punjab, India |
|
Tel. No.: |
91-1826-502923/ 222826/ 223139/ 225418 |
|
Fax No.: |
91-1826-502902/ 222915 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Postal Address : |
B-XXXIII/ 324, G.T. Road (West), Jalandhar Bye-Pass,, Phillaur -
144409, Punjab, India |
|
Tel. No.: |
91-1826-222826/ 222430/ 502921/ 222430/ 309898/ 502912/ 502910 |
|
Fax No.: |
91-1826-222915/ 502902 |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Akshay Bector |
|
Designation : |
Managing director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
29.03.1961 |
|
Qualification : |
B.E (Industrial
and Production) |
|
Date of Appointment : |
18.04.2000 |
|
PAN No.: |
ABJPB4769K |
|
DIN No.: |
00058877 |
|
|
|
|
Name : |
Mr. Anoop Bector |
|
Designation : |
Managing director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
05.10.1962 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ABJPB4770G |
|
DIN No.: |
00108589 |
|
|
|
|
Name : |
Mr. Dharamvir Bector |
|
Designation : |
Whole-time director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
01.04.1932 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
30.09.2006 |
|
PAN No.: |
ABXPB2850P |
|
DIN No.: |
00108654 |
|
|
|
|
Name : |
Mr. Ajay Bector |
|
Designation : |
Whole-time director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
17.12.1958 |
|
Date of Appointment : |
19.09.2005 |
|
PAN No.: |
ABWPB7406Q |
|
DIN No.: |
00058904 |
|
|
|
|
Name : |
Mr. Parveen Kumar Goel |
|
Designation : |
Whole-time director |
|
Address : |
230-A, Rishi Balmiki Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
21.08.1963 |
|
Qualification : |
CA |
|
Date of Appointment : |
01.05.2008 |
|
PAN No.: |
ABWPG3304J |
|
DIN No.: |
00007297 |
|
|
|
|
Name : |
Mrs. Rajni Bector |
|
Designation : |
Whole-time director |
|
Address : |
C-13, Sarabha Nagar, Ludhiana, Punjab, India |
|
Date of Birth/Age : |
02.06.1940 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
30.09.2006 |
|
PAN No.: |
ABKPB0071B |
|
DIN No.: |
00108730 |
|
|
|
|
Name : |
Mr. Rakesh Sony |
|
Designation : |
Director |
|
Address : |
Space Town Housing Complex, Flat No 4B, Block No. 8, Raghunathpur,
V.I.P. Road, Kolkata – 700052, West Bengal, India |
|
Date of Birth/Age : |
02.01.1976 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00363053 |
KEY EXECUTIVES
|
Name : |
Mrs. Jyoti Aggarwal |
|
Designation : |
Secretary |
|
Address : |
Near MC Office, Mandi Harji Ram Malout, Muktsar, Punjab, India |
|
Date of Birth/Age : |
06.12.1984 |
|
Date of Appointment : |
01.09.2012 |
|
PAN No.: |
AQQPA4740H |
|
|
|
|
Name : |
Mr. Reenu Bazaz |
|
Designation : |
Executive Assistant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Dharamvir Bector |
|
75600 |
|
Anoop Bector |
|
75000 |
|
Akshay Bector |
|
75000 |
|
Ajay Bector |
|
75000 |
|
Cremica Foods Limited, India |
|
5850000 |
|
Bector Foods Limited, India |
|
4470000 |
|
Cremica Industries Limited, India |
|
10500000 |
|
Cremica Agro Foods Limited, India |
|
2004150 |
|
IL and FS Trust Company Limited, India |
|
2341680 |
|
|
|
4348860 |
|
|
|
|
|
TOTAL |
|
29815290 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
14.60 |
|
Bodies
corporate |
|
84.40 |
|
Directors
or relatives of directors |
|
1.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Food Products including Biscuits,
Confectionaries, Sauces etc. |
||||||||||
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|
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|
Products : |
|
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Exports : |
|
||||||||||
|
Products : |
Food Products |
||||||||||
|
Countries : |
·
UK ·
USA ·
Uganda |
||||||||||
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|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
L/C and Credit |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Biscuits |
MT |
NA |
87600 |
60007 |
|
Bakery Products |
MT |
NA |
5119 |
2961 |
|
Sauces, Syrups and Spreads |
Ltrs |
NA |
13800000 |
11500120 |
|
Food Processing |
MT |
NA |
1100 |
1027 |
|
Namkeen |
MT |
NA |
1326 |
581 |
Note:
*As certified by management
the production of Bakery Products exclude production of Job work of NIL MT
(previous year 10,555 MT). The production of Biscuits exclude production of Job
work of 26,873 MT (Previous year 26,743 MT) Differences in quantitative tally
are on account of breakages and damages.
GENERAL INFORMATION
|
Customers : |
·
McDonalds ·
Barista ·
Coffee Day ·
Pizza Corner ·
Pizza Hut ·
Domino’s Pizza ·
Papa Johns ·
Taj ·
Jet Airways ·
Air India ·
Big Bazaar ·
Spencer ·
Sodexho |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
35 (Approximately) |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
·
State Bank of Patiala, Commercial Branch, Miller
Ganj, Ludhiana - 141003, Punjab, India ·
Punjab National Bank, Main Branch, Phillaur -
144410, Punjab, India ·
Small Industries Development Bank of India, First
Floor, Sco 16 and 17, Feroze Gandhi Market, Opposite Ludhiana Stock Exchange,
Ludhiana - 141001, Punjab, India ·
Oriental Bank of Commerce, Dana Mandi, Phillaur,,
Jalandhar - 144001, Punjab, India ·
State Bank of India, Sales Hub Mid Corporate, SCB
Miller Gunj, Ludhiana – 141003, Punjab, India ·
State Bank of India, Industrial Finance Branch,
Golden Tower, Dholewal Chowk, G.T Raod, Ludhiana – 141003, Punjab, India |
||||||||||||||||||||||||||||||
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|
||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||
|
Financial Institution : |
SBI Factors and
Commercial Services Private Limited BXXI-14627, Near Dholewal Chowk, G.T.
Road, Ludhiana - 141001, Punjab, India |
|
|
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
Hindustan Time
Building, 18-20, Kasturba Gandhi Marg, 6th Floor, New Delhi - 110001, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AALFS0506L |
|
|
|
|
Subsidiary Companies : |
·
Shree Bankey Behari Rice Mills Limited [U15312DL2010PLC207538] |
|
|
|
|
Associates : |
·
EBI Cremica Food Coatings Limited ·
Cremica Frozen Foods Limited ·
Bector Foods Limited [U15146PB1989PLC009675] ·
Cremica Agro Foods Limited
[L15146PB1989PLC009676] ·
Cremica Industries Limited [U15146PB1986PLC006994] ·
Cremica Foods Limited [U52201PB1992PLC012221] ·
Cremica Food Specialities Limited
[U23123PB1999PLC023123] |
|
|
|
|
Enterprises over which person(s) having
controlling interest in Company / Key management personnel (s) along with
their relatives are able to
exercise significant influence: : |
·
Sunshine Foods ·
Hira Mal Lachhman Das Parlour ·
Bakebest Foods Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 300.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,815,290 |
Equity Shares |
Rs. 10/- each |
Rs. 298.153
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
298.153 |
25.708 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
945.664 |
1153.524 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1243.817 |
1179.232 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
1000.511 |
987.260 |
|
|
2] Unsecured Loans |
|
31.756 |
10.407 |
|
|
TOTAL BORROWING |
|
1032.267 |
997.667 |
|
|
DEFERRED TAX LIABILITIES |
|
95.786 |
76.995 |
|
|
|
|
|
|
|
|
TOTAL |
|
2371.870 |
2253.894 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1572.216 |
1507.111 |
|
|
Capital work-in-progress |
|
33.188 |
19.591 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
4.778 |
4.268 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
419.578 |
415.219
|
|
|
Sundry Debtors |
|
447.765
|
326.981
|
|
|
Cash & Bank Balances |
|
86.498
|
122.667
|
|
|
Other Current Assets |
|
4.273
|
0.000
|
|
|
Loans & Advances |
|
317.724
|
315.150
|
|
Total
Current Assets |
|
1275.838
|
1180.017
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
308.681
|
398.600 |
|
|
Other Current Liabilities |
|
184.237
|
46.978 |
|
|
Provisions |
|
21.232
|
11.515
|
|
Total
Current Liabilities |
|
514.150
|
457.093
|
|
|
Net Current Assets |
|
761.688
|
722.924
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
2371.870 |
2253.894 |
|
Note: Balance Sheet for the current year
i.e.2011-2012 is not available only Profit and Loss Statement is available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
5608.897 |
4699.196 |
3598.827 |
|
|
|
Other Income |
9.778 |
36.270 |
124.314 |
|
|
|
TOTAL (A) |
5618.675 |
4735.466 |
3723.141 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
3258.842 |
2953.577 |
|
|
|
|
Purchases of stock-in-trade |
402.194 |
310.771 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(8.891) |
(36.399) |
|
|
|
|
Employee benefit
expense |
461.424 |
354.641 |
|
|
|
|
Other expenses |
1012.289 |
805.301 |
|
|
|
|
TOTAL (B) |
5125.858 |
4387.891 |
3445.463 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
492.817 |
347.575 |
277.678 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
122.219 |
94.096 |
95.613 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
370.598 |
253.479 |
182.065 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
131.405 |
109.910 |
83.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
239.193 |
143.569 |
98.383 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
69.653 |
47.643 |
39.244 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
169.540 |
95.926 |
59.139 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
325.900 |
261.314 |
208.408 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
Proposed Dividend |
6.900 |
6.900 |
6.233 |
|
|
|
BALANCE CARRIED
TO THE B/S |
488.500 |
325.900 |
261.314 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1149.080 |
823.988 |
637.956 |
|
|
|
Other Earnings |
0.090 |
0.036 |
3.761 |
|
|
TOTAL EARNINGS |
1149.170 |
824.024 |
641.717 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
98.409 |
140.888 |
116.754 |
|
|
|
Stores & Spares |
2.694 |
1.470 |
1.568 |
|
|
|
Capital Goods |
25.886 |
18.377 |
4.860 |
|
|
TOTAL IMPORTS |
126.989 |
160.735 |
123.182 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.69 |
2.40 |
79.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.02
|
2.03 |
1.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.26
|
3.06 |
2.73 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
N.A.
|
5.04 |
3.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
N.A.
|
0.12 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
N.A.
|
0.83 |
0.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
N.A.
|
2.48 |
2.58 |
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 |
Yes |
|
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 |
No |
|
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 |
Note: The registered
address of the company has been shifted from Plot No. 2/539, Pipal Wala
Mohalla, Badli, New Delhi – 110042, India to the present w.e.f.23.11.2009
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
|
|
29.268 |
|
Other debt unsecured |
|
2.488 |
|
Total |
N.A. |
31.756 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U74899PB1995PLC033417 |
|
Name of the
company |
MRS.BECTORS FOOD
SPECIALITIES LIMITED |
|
Address of the
registered office or of the principal place of business in |
Theing Road , Phillaur , Jalandhar - 144410 , Punjab, India Email: cs@mrsbectorfoods.com
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10067480 |
|
Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) |
|
Particular of
charge holder |
(CIN: U74899PB1995PLC033417) State Bank of India, Industrial Finance Branch, Golden Tower, Dholewal
Chowk, G.T Raod, Ludhiana – 141003, Punjab, India Email: sbi.04046@sbi.co.in |
|
Nature of
instrument creating charge |
Agreement of
hypothecation of goods and assets. (C-2) Sanction letter
no. Rm-ii/2012-13/99 dated 11.03.2013. Memorandum of
deposit for creation of further charge for term loan overall limit (C-10) Letter regarding
grant of individual limits within the overall limit. ( C-5). |
|
Date of
instrument Creating the charge |
21.03.2013 |
|
Amount secured by
the charge |
Rs.1077.200
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest WC limit: 2.00%
Above Base Rate, Present Effective Rate 11.70% P.A. TL-I-V: 2.25%
Above Base Rate, Present Effective Rate 11.95% P.A. TL-VI: 2.00%
Above Base Rate, Present Effective Rate 11.70% P.A. Terms of
Repayment TL-I TO V: As Per
Existing Agreement. TL-VI: Rs.
240.000 Millions. Will Be Repaid In 60 Monthly Installments As Per Agreement. Corporate Loan
(Proposed): Rs. 75.000 Millions will be repaid in 33 Monthly Installments as
per agreement. Cash Credit
Limits - Repayable On Demand Margin RM,SIP,FC: 25% EPC: 15% Receivables(
Cover Period 90 Days): 40% Letter of Credit
ILC/FLC( Sight/ Usance) Max. Usance of 90 Days: 15% BANK Guarantee:
15% TL ( Proposed):
24.05% One Time ILC/FLC:
24.05% Extent and
Operation of the charge 100% Others 2ONE |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
WCL and CL:first
charge on entire current assets ( existing and future) of the biscuit
division of the co. including rm, cs, stock-in-process, fg, bills, bd and
receivables etc present as well as future Term loan: first
charge on entire biscuit division of the company, EM of factory
land and building measuring 19874.25 sq. yards situated at Theing Road,
Phillaur, District Jalandhar, Punjab (B) Leasehold rights of factory l and b measuring 13920sq. yards situated at plot # 13, Phase i and ii, industrial area, Tahilwal, District. Una Himachal Pradesh Collateral: only
for working capital limits and corporate loans: 2nd charge on fixed assets of
the biscuit division of the company. Term loan: 2nd
charge on the current assets of biscuit division of the company. Industrial cum
commercial property measuring 6823 sq. Yards situated at mc 3 # B-
XXXIII-324, Village Bhora, G.T Road, Ludhiana in the name of directors |
|
Date of
instrument modifying the charge |
28.12.2011 |
|
Particulars of
the present modification |
By this modification
the overall limit increased to Rs. 1077.200 Millions. |
CONTINGENT
LIABILITIES NOT PROVIDED FOR: -
|
PARTICULARS |
31.03.2011
(Rs.
In Millions) |
31.03.2010
(Rs.
In Millions) |
|
I) Disputed Liabilities not adjusted as expense
in various year being in appeal. |
|
|
|
a) Demand
against deduction disallowed by Income tax authorities u/s 80IB and other
expenses for the assessment year 2006-07 |
4.560 |
4.560 |
|
b) Income Tax Demand
for AY 2007-08 on certain disallowances. The Company has time beyond the even
date to file an appeal to the Income Tax Appellate Tribunal, which it intends
to. |
0.475 |
5.737 |
|
c) Demand for
Market Fees by Market Committee, |
-- |
33.535 |
|
II) Guarantees given
by the Company |
|
|
|
a) Guarantees
given to World Food Programme as a performance Guarantee |
5.000 |
-- |
|
b) Guarantees
given to Sales Tax Authorities |
0.058 |
-- |
|
c) Guarantee
given by the Company to Banks for loans availed by Cremica Industries
Limited. |
20.000 |
15.000 |
|
III) Contingent Liability for pending C and F Forms |
51.011 |
45.796 |
FIXED ASSETS:
·
Land Freehold
·
Land Leasehold
·
Buildings
·
Plant and Machinery
·
Furniture and Fixtures
·
Vehicles
·
Computer
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.56.50 |
|
|
1 |
Rs.86.01 |
|
Euro |
1 |
Rs.73.68 |
INFORMATION DETAILS
|
Information Gathered
by : |
HEL |
|
|
|
|
Report Prepared
by : |
KVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
|
53 |
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.