MIRA INFORM REPORT
|
Report Date : |
10.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
LINCON POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
308, Shanti Mall, Near |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
04.03.1996 |
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Com. Reg. No.: |
04-028973 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 8.075 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17119GJ1996PTC028973 |
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|
|
|
IEC No.: |
0803008597 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHML00266A |
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|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer and Exporter of PP/HDPE Woven Sacks and Bags. |
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|
|
|
No. of Employees
: |
100 (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 460000 |
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|
|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is and established company having satisfactory track record.
There appears slight dip in profitability during 2012. However, general financial position of the company seems to be good.
Trade relations are reported to be fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for normal business dealings at usual
trade terms and 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 |
BB+ (Long term rating) |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation |
|
Date |
September, 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. Sunil Kothari |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-79-27461493 |
|
Date : |
08.06.2013 |
LOCATIONS
|
Registered Office : |
308, Shanti Mall, Near Satadhar Cross Road, Ghatlodia, Ahmedabad –
380061, Gujarat, India |
|
Tel. No.: |
91-79-27461493 / 27470603 |
|
Mobile No.: |
91-9825005913 (Mr. Paresh B. Patel) |
|
Fax No.: |
91-79-27470812 |
|
E-Mail : |
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|
Website : |
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|
Factory : |
Block No. 38, Khatraj, Taluka- Kalol, District – Gandhinagar, Gujarat,
India |
|
Tel. No.: |
91-2764-281274 |
|
Fax No.: |
91-2764-281424 |
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E-Mail : |
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|
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Branch Office : |
701/6A, 7th Floor, Krishna Green Land Park, Kasarvadavali Junction,
Ghod Bunder Road, Opposite Parshwanath Engineering College, Thane (West),
Mumbai-400604, Maharashtra, India |
|
Tel. No.: |
91-22-25970675 |
|
Fax No.: |
91-22-25970579 |
|
E-Mail : |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Babubhai Kachrabhai Patel |
|
Designation : |
Chairman |
|
Address : |
111, Vaibhav Bunglow, Near Sun-N-Step Club, Sola Road, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
10.03.1953 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1999 |
|
DIN No : |
00229793 |
|
|
|
|
Name : |
Mr. Pareshbhai Babubhai Patel |
|
Designation : |
Director |
|
Address : |
111, Vaibhav Bunglow, Near Sun-N-Step Club, Sola Road, Ghatlodia,
Ahmedabad – 380061, Gujarat, India |
|
Date of Birth/Age : |
23.09.1976 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
25.08.1999 |
|
DIN No : |
00229834 |
|
|
|
|
Name : |
Mr. Hardikbhai Dilipbhai Patel |
|
Designation : |
Director |
|
Address : |
49, Krishna Society, Jail Road, Mehsana (N.G.), Gujarat, India |
|
Date of Birth/Age : |
03.06.1976 |
|
Date of Appointment : |
01.10.2004 |
|
DIN No : |
00251825 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Babubhai K.
Patel |
|
282750 |
|
Pareshbhai
B. Patel |
|
154150 |
|
Kamlaben B.
Patel |
|
50660 |
|
Lilaben P.
Patel |
|
300 |
|
Revaben L.
Patel |
|
867 |
|
Indumatiben
l. Solanki |
|
2500 |
|
Nikitaben
Patel |
|
6085 |
|
Anitaben P.
Patel |
|
30000 |
|
Bhaveshbhai
B. Patel |
|
15300 |
|
Laxmanbhai
K. Patel |
|
14418 |
|
Vikrambhai
M. Shah |
|
1500 |
|
Niravbhai
P. Brahmbhatt |
|
2100 |
|
Sureshbhai
K. Patel |
|
1600 |
|
Mafatlal L.
Chaudhari |
|
100 |
|
Kashiram B.
Patel |
|
100 |
|
S. M.
Brothers (Proprietor Ranchodbhai Patel) |
|
100 |
|
Visat
Traders (Proprietor Pravinbhai D. Patel) |
|
100 |
|
Krupa
Trading (Proprietor Shri Bansibhai Patel) |
|
100 |
|
Deepaliben
Patel Jointly with Krupa Patel and Roopali Patel |
|
100 |
|
Shri
Parasbhai Patel Jointly with Smt. Varshaben Patel |
|
100 |
|
ShrAdishbhai
Patel |
|
100 |
|
Industrial
Marketing, India (Proprietor Ram Avtar Agrawal) |
|
100 |
|
Divya
Agrawal (H.U.F.) |
|
100 |
|
We Exim,
India (Proprietor Vijaybhai Patel) |
|
50100 |
|
Hardikbhai
D. Patel |
|
42950 |
|
Samir G.
Patel |
|
47250 |
|
Shailesh R.
Patel |
|
21275 |
|
Pushpaben
G. Patel |
|
12500 |
|
Arvind B.
Patel |
|
42500 |
|
Dhanesh B.
Patel |
|
27500 |
|
Babubhai
Mathuradas Patel |
|
110 |
|
Reshma
Tejas Patel |
|
100 |
|
Total |
|
807515 |
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
3.72 |
|
Directors or relatives of Directors |
96.28 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of PP/HDPE Woven Sacks and Bags. |
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Products : |
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Exports : |
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Products : |
PP/HDPE Woven Sacks and Bags |
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Countries : |
· Africa · Europe · Middle East |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Saudi Arabia · Malaysia · Korea · Kuwait · Belgium · Taiwan |
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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 31.03.2012
|
Particulars |
Unit |
Installed
Capacity |
|
HDPE / PP Woven Sacks Fabrics and Others* |
MT |
6000 |
*Installed capacity is as certified by the management
|
Particulars |
Unit |
Actual
Production |
|
Woven Sacks |
Pcs. |
49944922 |
|
Fabrics |
Mt |
1136 |
|
Other Items* |
MT. |
1272 |
*Includes production of intermediates products
i.e. Tape (for sales)
GENERAL INFORMATION
|
Suppliers : |
Reliance Industries Limited |
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Customers : |
End Users · Gopala Polyplast Limited |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Facilities : |
· Fund Base: Rs. 80.000 millions (From Punjab National Bank) · Non – Fund Base: Rs. 105.000 millions (From Punjab National Bank)
Note: Working Capital facilities from the Punjab National Bank are secured
by way of first charge on hypothecation of entire currents assets (present
and future! of the Company including stocks of raw materials, stock in
process, finished goods, receivables, stores, spares and consumables. Working Capital facilities and Term loan, from the Punjab National
Bank, is secured by way of Equitable Mortgage of Factory Land and building
situated at Block No. 38 ft 39, Palki Village, Khatraj, Kabl, Gandhinagar and
first charge on Plant a Machinery, Equipments and Other Fixed Assets of the
Company, |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
V K Soni and Company Chartered Accountants |
|
Address : |
501/B, |
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PAN.: |
AADFV2811R |
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|
|
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Enterprises under significant influence of key management personnel : |
· Priyal Plast Private Limited · Malay Plast Private Limited · Acton Investment Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
807515 |
Equity Shares |
Rs.10/- each |
Rs.8.075
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
8.075 |
8.075 |
6.510 |
|
|
2] Share Application Money |
0.000 |
0.000 |
9.871 |
|
|
3] Reserves & Surplus |
107.561 |
95.211 |
49.618 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
115.636 |
103.286 |
65.999 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
188.399 |
155.323 |
73.348 |
|
|
2] Unsecured Loans |
29.416 |
40.406 |
36.614 |
|
|
TOTAL BORROWING |
217.815 |
195.729 |
109.962 |
|
|
DEFERRED TAX LIABILITIES |
19.653 |
13.598 |
4.962 |
|
|
|
|
|
|
|
|
TOTAL |
353.104 |
312.613 |
180.923 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
135.817 |
146.089 |
69.535 |
|
|
Capital work-in-progress |
17.065 |
11.082 |
1.119 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
84.887
|
55.892
|
14.856
|
|
|
Sundry Debtors |
116.448
|
114.114
|
71.804
|
|
|
Cash & Bank Balances |
12.996
|
7.657
|
4.956
|
|
|
Other Current Assets |
1.316
|
0.000
|
0.000
|
|
|
Loans & Advances |
51.875
|
21.108
|
45.903
|
|
Total
Current Assets |
267.522
|
198.771
|
137.519
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
37.593
|
24.010
|
13.532
|
|
|
Other Current Liabilities |
28.193
|
17.854
|
7.0.98
|
|
|
Provisions |
1.514
|
1.465
|
6.629
|
|
Total
Current Liabilities |
67.300
|
43.329
|
27.259
|
|
|
Net Current Assets |
200.222
|
155.442
|
110.260
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.009 |
|
|
|
|
|
|
|
|
TOTAL |
353.104 |
312.613 |
180.923 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
720.327 |
647.969 |
519.620 |
|
|
|
Other Income |
18.646 |
9.031 |
3.696 |
|
|
|
TOTAL (A) |
738.973 |
657.000 |
523.316 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials
Consumed |
576.787 |
|
482.655 |
|
|
|
Purchases of Traded Goods |
7.103 |
51.088 |
|
|
|
|
Employee Benefit Expenses |
13.741 |
8.778 |
|
|
|
|
Preliminary expenses Written off |
0.000 |
0.010 |
|
|
|
|
Other Expenses |
84.543 |
59.923 |
|
|
|
|
Prior period Expenditure |
0.000 |
0.934 |
|
|
|
|
Changes in inventories
of Stock-in-Trade |
(8.631) |
(7.694) |
|
|
|
|
TOTAL (B) |
673.543 |
602.643 |
482.655 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
65.430 |
54.357 |
40.661 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.672 |
16.144 |
10.671 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
35.758 |
38.213 |
29.990 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.301 |
13.553 |
7.323 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
18.457 |
24.660 |
22.667 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
9.800 |
13.718 |
7.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H)
(I) |
8.657 |
10.942 |
14.794 |
|
|
|
|
|
|
|
|
|
Add: |
Mat Tax Credit
Entitlement |
3.693 |
4.915 |
0.000 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
56.435 |
40.578 |
25.784 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
68.785 |
56.435 |
40.578 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
20.753 |
21.508 |
27.812 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
251.989 |
47.523 |
54.349 |
|
|
|
Capital Goods |
0.711 |
1.641 |
11.866 |
|
|
TOTAL IMPORTS |
252.700 |
49.164 |
66.215 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.29 |
19.64 |
22.73 |
|
|
Particulars |
|
|
31.03.2013 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
820.000 |
|
|
|
|
|
Expected Sales (2013-2012): Rs. 1100.000 millions
The above information has been parted by Mr. Sunil Kothari (Finance
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.17
|
1.67
|
2.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.56
|
3.81
|
4.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.58
|
7.15
|
10.95 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.24
|
0.34 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.88
|
1.90
|
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.98
|
4.59
|
5.04 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Creditors for Capital Goods |
0.153 |
|
|
|
Creditors for Goods |
36.662 |
14.535 |
|
|
Creditors for Job purchases |
0.069 |
0.000 |
|
|
Creditors for others |
0.709 |
4.622 |
|
|
Total |
37.593
|
24.010
|
13.532
|
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
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 |
NOTE:
The Registered address of the company has been shifted from F-2,
Aakansha Appartments, Near Sola Railway Crossing, Ghatlodia, Ahmedabad –
380061, Gujarat, India to the present address w.e.f. 29.01.2007.
COMPANY INFORMATION
Subject is a private limited company in India. The company is a leading manufacturer, exporter and supplier of various types of Woven Bags. Made from Polyproplene, Hight-density polyethylene, BOPP (Packing materials) etc. Subject is an ISO 9001-2008 certified company and is also certified as an ‘Export House’ by the Government.
FINANCIAL RESULTS
During the year, the Company achieved turnover and other income of Rs. 738.972 millions as against turnover of Rs. 647.969 millions achieved during the previous year 2010-11 registering a growth of 14.04%. Despite the economic slowdown in the current year and the loss on account of depreciation of Rupee vis-a-vis dollar, the Company has earned EBITDA of Rs. 52.149 millions which is more or less similar to EBITDA for F.Y. 2010-11. The director's expect the Company to show improved performance in the years to come.
UNSECURED LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
From Directors |
3.671 |
10.494 |
|
Inter Corporate Loan |
11.362 |
17.495 |
|
From Shareholders and Related Parties |
14.383 |
12.417 |
|
Total |
29.416 |
40.406 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U17119GJ1996PTC028973 |
|
Name of the company |
LINCON POLYMERS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
308, Shanti Mall, Near Satadhar Cross Road, Ghatlodia, Ahmedabad – 380
061, Gujarat, India Email: office@linconpolymers.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
80016174 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Punjab National Bank Sola Road Branch, Ghatlodia, Ahmedabad - 380061, Gujarat, India Email: 3937@pnb.co.in |
|
Nature of instrument creating charge |
Mortgage deed [without possession] Dated. 12.01.2012 |
|
Date of instrument Creating the charge |
12.01.2012 |
|
Amount secured by the charge |
Rs. 253.600 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Terms of Repayment CC on demand subject of review annually and Term Loans as per original
sanction. Extent and Operation of the charge Punjab National Bank has exclusive first charge over all immovable
properties/ assets as mentioned in Col. No.15 below till
the repayment of aggregate credit facilities of Rs.253.600 millions
along with interest, additional
interest, panel interest, cost, charges, commission and all such other amount
as may be due to the Bank from time to time or what so ever in nature. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Land bearing Block No.38/p, adm. about 2500 sq. mtrs. with
construction standing thereon situate, lying and being at Mouje (Sim)
Khatrej, Taluka Kalol, Reg. Dist. Gandhinagar and Sub-District Kalol; Land Block No.38/p, adm. about 1-06-48 hec. area sq. mtrs. from same
southern portion adm. about 6813 sq. mtrs. and construction thereon adm.
about 334.44 sq. mtrs. situated in Mouje Khatrej, Taluka Kalol; Land situate being Village Khatrej, Taluka Kalol, District Gandhinagar
forming part of S.No.21/2 and B.No.39/p of Mouje Khatrej, Taluka Kalol adm.
1983.90 sq.mtrs. thereabout togetherwith buildings thereon AND Bunglow No.12/A adm.plot area 429 sq.mts. with construction adm.620
sq. yards i.e.518.40 sq.mts. thereon, Malayvilla Bunglows, S.No.433 Paiki
Hissa No.1+2+3,TP Sch.No.42 FP No.76 Mouje Sola, Taluka Daskori |
|
Date of instrument modifying the charge |
21.11.2011 |
|
Particulars of the present modification |
The present modification is made to further secure the aggregate
charge of Rs.253.600 millions by simple mortgage (without possession) over
immovable properties mentioned above. Now at present the total charge is
stands for aggregate maximum limit of Rs.253.600 millions. All other terms and conditions remain unchanged and continued. |
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
LUT Bond given by the
Company against import of Raw Material under DEEC |
27.686 |
|
Bank guarantee
issued by the bank in favour of the Company |
5.000 |
|
Corporate
Guarantee Given for credit facilities taken by Priyal Plast Private Limited Term loan - Rs. 30.000
millions and Cash Credit limit - Rs. 10.000 millions for loan taken from Punjab National
Bank, Sola Road, Ahmedabad) |
40.000 |
FIXED ASSETS
v Tangible Assets
- Land and Site
Development
- Building
- Office
Building
- Plant and
Machinery
- Electric
Installation
- Furniture and
Fixture
- Office
Equipment
- Motor Car
- Air
Conditioner
- Computer
- Scooter
- Wind Mill
v Intangible Assets
- 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.56.74 |
|
|
1 |
Rs.88.53 |
|
Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
MRI |
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.