MIRA
INFORM REPORT
|
Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ANABOND LIMITED |
|
|
|
|
Registered
Office : |
Type II, 36, Dr. V.S.I. Estate, Thiruvanmiyur, Chennai 600041,
Tamilnadu |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
29.02.1984 |
|
|
|
|
Com. Reg. No.: |
18-075194 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.35.844
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24295TN1984PLC075194 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEA00689D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA4158Q |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of Industrial Adhesives and Sealants. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having a good track record. The
financial position of the company is strong. Performance capability is high. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for normal 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 – 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 |
CARE |
|
Rating |
Long term bank facilities: A |
|
Rating Explanation |
Having adequate degree of safety regarding timely servicing of
financial obligation. It carry low credit risk. |
|
Date |
October, 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 / Corporate /
Marketing Office : |
Type II, 36, Dr. V.S.I. Estate, Thiruvanmiyur, Chennai 600041,
Tamilnadu, |
|
Tel. No.: |
91-44-23460050 /
53 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1: |
No. 102, |
|
Tel No.: |
91-4114-27478757
/ 8787 |
|
Fax No.: |
91-4114-27478784 |
|
|
|
|
Factory 2: |
No.26/2, CAD No.82, |
|
Tel No.: |
91-413-2640869 /
808 / 868 |
|
|
|
|
Branches : |
Located at:
|
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Janakiraman Vijayakumar |
|
Designation : |
Chairman and Managing Director |
|
Address : |
41/2D, Athreya Apartment, 2nd Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India |
|
Date of Birth/Age : |
07.09.1951 |
|
Qualification : |
M.sc., |
|
Date of Appointment : |
29.02.1984 |
|
PAN No.: |
AAGPV6367H |
|
DIN No.: |
00039987 |
|
|
|
|
Name : |
Mr. Arcot Varadan Ramanujam |
|
Designation : |
Director |
|
Address : |
41/C2, 1st Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India |
|
Date of Birth/Age : |
14.04.1951 |
|
Qualification : |
B.sc., |
|
Date of Appointment : |
29.02.1984 |
|
PAN No.: |
AAGPR3151F |
|
DIN No. |
00040011 |
|
|
|
|
Name : |
Mr. Venkateshwaran Lakshminarayanan |
|
Designation : |
Executive Director - Finance |
|
Address : |
No.7, Narayan Kripa GA Jeevarathinam Nagar, Adyar, Chennai – 600020, Tamilnadu, India |
|
Date of Birth/Age : |
18.06.1956 |
|
Qualification : |
F.C.A., |
|
Date of Appointment : |
24.08.2007 |
|
PAN No.: |
AAGPL6182N |
|
DIN No.: |
00040251 |
|
|
|
|
Name : |
Mr. Esakiapillai Srinivasan |
|
Designation : |
Executive Director - Marketing |
|
Address : |
23/9, Amirthavanam Flats, Temple Avenue Srinagar Colony, Saidapet, Chennai – 600015, Tamilnadu, India |
|
Date of Birth/Age : |
17.03.1961 |
|
Qualification : |
B.A., |
|
Date of Appointment : |
24.08.2007 |
|
PAN No.: |
ACGPS4912H |
|
DIN No.: |
00040408 |
|
|
|
|
Name : |
Mr. Kaliappan Adhinarayanan |
|
Designation : |
Executive Director – Research and Development |
|
Address : |
Plot No.5, Door No.2, Padmalaya Apartments, Balakrishna Road, Valmiki Nagar – 600041, Tamilnadu, India |
|
Date of Birth/Age : |
20.04.1949 |
|
Qualification : |
M.Sc., |
|
Date of Appointment : |
24.08.2007 |
|
PAN No.: |
ABYPA8955F |
|
DIN No.: |
01949254 |
|
|
|
|
Name : |
Mr. Ashok Ahuja |
|
Designation : |
Director |
|
Address : |
H-34, Kirti Nagar, New Delhi - 110015, India |
|
Date of Birth/Age : |
10.06.1956 |
|
Qualification : |
M.Sc., |
|
Date of Appointment : |
30.09.1999 |
|
PAN No.: |
ADRPA3023D |
|
DIN No.: |
02047513 |
|
|
|
|
Name : |
Mr. Bernard Syiem |
|
Designation : |
Director |
|
Address : |
G.S. Road, 9th Mile, Baridua Village, District – RI – Bhol, Amerigog, Meghalaya – 781023, India |
|
Date of Birth/Age : |
12.08.1968 |
|
Qualification : |
B.COM., |
|
Date of Appointment : |
15.12.2004 |
|
DIN No.: |
02198252 |
|
|
|
|
Name : |
Mr. Janakiraman Vijayakumar Sembian |
|
Designation : |
Director |
|
Address : |
41/2D, II Main Road, Gandhi Nagar, Adyar, Chennai – 600020, Tamilnadu, India |
|
Date of Birth/Age : |
26.02.1982 |
|
Qualification : |
B.E.(Artchitect) |
|
Date of Appointment : |
04.02.2011 |
|
PAN No.: |
AOHPS3509R |
|
DIN No.: |
02305586 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
Note: Shareholding detail file attached
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
88.85 |
|
Others |
11.15 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Adhesives and Sealants. |
||||
|
|
|
||||
|
Products : |
·
Anaerobic RTV Silicones Cyanoacrylate Epoxy Rubber Based Polyurethane Lubricats Industrial Cleaners Polysulphide Acrylic Sealant |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
Indian Overseas
Bank, Commercial and Institutional Credit Branch, 98-A, Dr. Radhakrishnan Salai,
Mylapore, Chennai-600004, Tamilnadu, India |
|||||||||||||||
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|||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
CNGSN and
Associates Chartered
Accountant |
|
Address : |
Swathi Court, Flat No.C&D, No.22, Vijayaraghava Road, T. Nagar, Chennai – 600017, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFC5571B |
|
|
|
|
Joint venture : |
· Anabond Stedman Pharma Research Private Limited CIN No.: U33112TN2004PTC054628 Anabond Revocoat India Private Limited CIN No.: U24299PY1997PTC001304 |
|
|
|
|
Subsidiaries : |
·
Anadocs IT Solutions Private Limited CIN No.: U72200TN2003PTC051954 Anabond Tantalum Private
Limited CIN No.: U27300TN2007PTC063230 |
|
|
|
|
|
· Darien Electric Private Limited CIN No.: U30007TN1994PTC026929 Arima and Company |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- Each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2702160 |
Equity Shares |
Rs.10/- Each |
Rs.27.022
Millions |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
Rs.10/- Each |
Rs.60.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3584360 |
Equity Shares |
Rs.10/- Each |
Rs.35.844
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 |
|
35.844 |
35.844 |
|
(b) Reserves & Surplus |
|
992.341 |
557.128 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) Long-term borrowings |
|
122.762 |
84.486 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term liabilities |
|
2.283 |
1.944 |
|
(d) long-term provisions |
|
0.000 |
0.981 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
8.918 |
8.711 |
|
(b) Trade payables |
|
84.957 |
63.711 |
|
(c) Other current
liabilities |
|
25.640 |
22.883 |
|
(d) Short-term provisions |
|
43.166 |
43.675 |
|
TOTAL |
|
1315.911 |
819.362 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
617.149 |
223.415 |
|
(ii) Intangible Assets |
|
0.563 |
0.804 |
|
(iii) Capital
work-in-progress |
|
0.000 |
21.391 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
16.652 |
14.682 |
|
(c) Deferred tax assets (net) |
|
4.384 |
2.978 |
|
(d) Long-term Loan and Advances |
|
9.837 |
49.874 |
|
(e) Other Non-current assets |
|
0.964 |
0.859 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
149.788 |
104.981 |
|
(c) Trade receivables |
|
172.744 |
143.504 |
|
(d) Cash and cash
equivalents |
|
223.263 |
175.278 |
|
(e) Short-term loans and
advances |
|
50.336 |
35.661 |
|
(f) Other current assets |
|
70.231 |
45.934 |
|
TOTAL |
|
1315.911 |
819.362 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
35.844 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
499.894 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
535.738 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
27.344 |
|
|
2] Unsecured Loans |
|
|
8.873 |
|
|
TOTAL BORROWING |
|
|
36.217 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
571.955 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
206.502 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
68.632 |
|
|
DEFERREX TAX ASSETS |
|
|
0.948 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
94.889 |
|
|
Sundry Debtors |
|
|
174.469
|
|
|
Cash & Bank Balances |
|
|
58.291
|
|
|
Other Current Assets |
|
|
2.966
|
|
|
Loans & Advances |
|
|
97.876
|
|
Total
Current Assets |
|
|
428.491
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
70.421
|
|
|
Other Current Liabilities |
|
|
37.741
|
|
|
Provisions |
|
|
24.456
|
|
Total
Current Liabilities |
|
|
132.618
|
|
|
Net Current Assets |
|
|
295.873
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
571.955 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1186.306 |
1051.331 |
764.573 |
|
|
|
Other Income |
11.972 |
13.661 |
6.988 |
|
|
|
TOTAL (A) |
1198.278 |
1064.992 |
771.561 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
646.349 |
523.778 |
|
|
|
|
Purchases of stock-in-trade |
85.213 |
90.812 |
628.084 |
|
|
|
Employee benefit expense |
123.092 |
121.527 |
|
|
|
|
Other expenses |
174.277 |
189.701 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(18.510) |
6.645 |
|
|
|
|
TOTAL (B) |
1010.421 |
932.463 |
628.084 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
187.857 |
132.529 |
413.477 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
10.203 |
3.749 |
4.456 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
177.654 |
128.780 |
139.021 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
33.031 |
29.901 |
28.690 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
144.623 |
98.879 |
110.331 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
37.049 |
35.396 |
15.816 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
107.574 |
63.483 |
94.515 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
269.495 |
218.609 |
139.815 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.757 |
6.348 |
9.451 |
|
|
|
Proposed Dividend |
4.053 |
5.377 |
5.377 |
|
|
|
Tax on Dividend |
0.658 |
0.872 |
0.893 |
|
|
BALANCE CARRIED
TO THE B/S |
361.601 |
269.495 |
218.609 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on FOB basis |
36.913 |
36.124 |
27.131 |
|
|
TOTAL EARNINGS |
36.913 |
36.124 |
27.131 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
30.01 |
17.71 |
26.23 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.98
|
5.96 |
12.25
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.19
|
9.41 |
14.43
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.17
|
13.55 |
17.37
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.17 |
0.21
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.13
|
0.16 |
0.07
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.10
|
3.64 |
3.23
|
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) |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE
The registered office of the company has been shifted from RS No. 26/2,
CAD No.82, Thirubhuvani Village, Manadipet Commune, Pondicherry – 605 102,
TamilNadu, India to present w.e.f.
19.02.2010
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long Term
Borrowing |
|
|
|
Deposits |
8.207 |
7.383 |
|
Loans taken for fixed assets |
1.605 |
5.331 |
|
Other loans and advances, others |
3.340 |
2.743 |
|
Short Term
Borrowing |
|
|
|
Other loans and advances, others |
8.918 |
8.712 |
|
Total |
22.070
|
24.169
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U24295TN1984PLC075194 |
|
Name of the
company |
ANABOND LIMITED |
|
Address of the
registered office or of the principal place of business in |
Type II, 36, Dr. V.S.I. Estate, Thiruvanmiyur, Chennai 600041,
Tamilnadu, India E-mail: taxation@anabond.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90005712 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Indian Overseas Bank,
Commercial and Institutional Credit Branch, 98-A, Dr. Radhakrishnan Salai,
Mylapore, Chennai-600004, Tamilnadu, India E-mail: canicbr@chemrc01.iobnet.co.in
|
|
Nature of instrument
creating charge |
i) Letter of
Hypothecation; and ii) Confirmation
Letters evidencing creation of Supplemental Mortgage (6 Nos). |
|
Date of
instrument Creating the charge |
15.03.2012 |
|
Amount secured by
the charge |
Rs. 318.700
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Any such rate as
may be advised to the Company from time to time in respect of the credit
facilities. Terms of Repayment Total Credit
facilities (both fund based and non-fund based) of Rs.318.700 millions -
Unless demanded earlier, repayable as per sanction terms. Margin As may be
prescribed by the Bank from time to time for the credit facilities. Extent and Operation of the charge The Company
created charge in favour of Indian Overseas Bank, C and I Credit Branch,
Mylapore on First Charge by way of Hypothecation of Current Assets and Fixed
Assets and extension of mortgage on immovable properties of the Company as
collateral security to secure the enhanced credit facilities granted to the
Company aggregating to Rs.318.700 millions together with interest, costs,
charges and other dues which may become due and owing to the bank in respect
of the said credit facilities. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation by
way of First Charge on all the current assets and fixed assets excluding
assets acquired under HP, documents of title to goods/accepted hundies, counter
indemnity of the borrower; and Collaterally secured by extension of mortgage
on immovable properties of the Company. |
|
Date of
instrument modifying the charge |
26.11.2010 |
|
Particulars of
the present modification |
By the present
modification, Indian Overseas Bank has granted additional credit facilities
of Rs.90.000 millions thereby the aggregate credit facilities granted to the
Company have been enhanced from Rs.228.700 millions to Rs.318.700 millions
and the enhanced credit facilities are secured by first charge by way of
hypothecation of current assets and fixed assets and collaterally secured by extension of
mortgage on immovable properties of the Company. |
FIXED ASSETS
Tangible
Assets
Land
Buildings
Factory
Building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Office
equipment
Other
equipments
Intangible Assets
Brands
and trade marks
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.58.27 |
|
|
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
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 |
|
51 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.