MIRA
INFORM REPORT
|
Report Date : |
11.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
MULTI-FLEX LAMI-PRINT LIMITED |
|
|
|
|
Registered
Office : |
D-54-55, MIDC, Mahad, Raigad - 402301, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.03.1991 |
|
|
|
|
Com. Reg. No.: |
11-060717 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 121.720 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U22219MH1991PLC060717 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM21417E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM3316J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Multilayer Plastic Laminated and Printed Packaging Films. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (37) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1930000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
latest financials of the company are not made available. It is susceptible to
intense competition in the domestic flexible packaging industry. However,
trade relations are reported to be fair. Business is active. Payments are
reported to be unknown in absence of latest financial. 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : B |
|
Rating Explanation |
High risk of default |
|
Date |
July 27, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
July 27, 2012 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Factory : |
D-54-55, MIDC, Mahad, Raigad - 402301, Maharashtra, India |
|
Tel. No.: |
91-2145-232126/ 32127 |
|
Fax No.: |
91-2145-232340 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
210, |
|
Tel. No.: |
91-22-56473000 |
|
Fax No.: |
91-22-56473001 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
Unit No. 205, Local Shopping Complex, Pocket D and E, Sarita Vihar,
New Delhi - 110076, India |
|
Tel. No.: |
91-11-32590126 |
|
Fax No.: |
91-11-29944871 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
22, Railway Parallel Road, Kumara Park East, Bangalore – 560001,
Karnataka, India |
|
Tel. No.: |
91-80-32975425 |
|
Fax No.: |
91-80-22372105 |
|
E-Mail : |
DIRECTORS
AS ON 28.09.2012
|
Name : |
Mr. Anil Kundanlal Dang |
|
Designation : |
Chairman cum Managing director |
|
Address : |
House No. 10, Palm Springs, Near Chandan Cinema, Juhu Road, Vile
Parle, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1962 |
|
Date of Appointment : |
12.01.1995 |
|
DIN No.: |
00276893 |
|
|
|
|
Name : |
Mr. Phootermal Pukhraj Surana |
|
Designation : |
Director |
|
Address : |
8 A, Purushottam Nagar, Jari Mari Mandir Marg, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
15.08.1947 |
|
Date of Appointment : |
24.10.1991 |
|
DIN No.: |
01239903 |
|
|
|
|
Name : |
Mr. Amrit Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
M-4/8, Model Town II, Delhi - 110009, India |
|
Date of Birth/Age : |
27.01.1968 |
|
Date of Appointment : |
01.12.2000 |
|
DIN No.: |
00064314 |
|
|
|
|
Name : |
Mr. Vijay Rajaram Shahane |
|
Designation : |
Additional director |
|
Address : |
Ichha Poorti, 79, Anant Patil Road, Off Gokhale Road, Mumbai - 400028,
Maharashtra, India |
|
Date of Birth/Age : |
12.02.1944 |
|
Date of Appointment : |
01.12.2000 |
|
Voter ID No.: |
MT/06/032/0375649 |
|
DIN No.: |
00277332 |
|
|
|
|
Name : |
Mr. Sajid Siraj Malik |
|
Designation : |
Director |
|
Address : |
702, Vastu Bandstand, BJ Road, Bandra [West], Mumbai - 400050,
Maharashtra, India |
|
Date of Birth/Age : |
01.04.1964 |
|
Date of Appointment : |
30.11.2007 |
|
DIN No.: |
00400366 |
|
|
|
|
Name : |
Mr. Uday Champaklal Shah |
|
Designation : |
Additional director |
|
Address : |
81, Jawahar Nagar, Road No. 4, 2nd Floor, Flat No. 5,
Goregaon (West), Mumbai – 400062, |
|
Date of Birth/Age : |
02.11.1966 |
|
Date of Appointment : |
27.11.2009 |
|
Voter ID No.: |
MT/09/042/0084494 |
|
DIN No.: |
02852104 |
|
|
|
|
Name : |
Mr. Shrigopal Ramprasad Rathi |
|
Designation : |
Additional director |
|
Address : |
42/3, Nav Chandrakunj CHS Limited, Road No. 4, Jawahar Nagar, Goregaon
(West), Mumbai – 400062, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1963 |
|
Date of Appointment : |
27.11.2009 |
|
Voter ID No.: |
MT/09/042/0081089 |
|
DIN No.: |
02852578 |
|
|
|
|
Name : |
Mr. Jason Glenn Edwards |
|
Designation : |
Nominee director |
|
Address : |
27, Chancery Lane, Chanery Grove, Singapore - 309526 |
|
Date of Birth/Age : |
10.11.1968 |
|
Date of Appointment : |
20.08.2009 |
|
DIN No.: |
02581362 |
|
|
|
|
Name : |
Mr. Mrinal Ramesh Chandran |
|
Designation : |
Nominee director |
|
Address : |
Flat No. F- 704, Lloyds Estate, 7th Floor, Salt Pan Road,
Wadala [East], Mumbai - 400037,
Maharashtra, India |
|
Date of Birth/Age : |
15.12.1976 |
|
Date of Appointment : |
20.08.2009 |
|
DIN No.: |
02578553 |
|
|
|
|
Name : |
Mr. Mahesh Ganeshlal Trivedi |
|
Designation : |
Additional director |
|
Address : |
B/502, Vasundhara-5, Poonam Sagar Complex, |
|
Date of Birth/Age : |
02.02.1980 |
|
Date of Appointment : |
29.07.2010 |
|
DIN No.: |
03074569 |
|
|
|
|
Name : |
Mr. Manish Jain |
|
Designation : |
Nominee director |
|
Address : |
A-1/403, Ascent Residency, Behind Poonam Nagar, Off Mahakali Caves
Road, Andheri [East], Mumbai - 400093, Maharashtra, India |
|
Date of Birth/Age : |
07.02.1979 |
|
Date of Appointment : |
20.08.2009 |
|
DIN No.: |
02578269 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
SHAREHOLDING DETAILS FILE ATTACHED
AS ON 28.09.2012
|
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] |
|
18.07 |
|
Bodies
corporate |
|
40.95 |
|
Directors
or relatives of directors |
|
31.74 |
|
Other
top fifty shareholders |
|
9.24 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Multilayer Plastic Laminated and Printed Packaging Films. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
|
Laminates |
MT |
14400 |
GENERAL INFORMATION
|
Customers : |
Ø Britannia
Industries Limited Ø Parle Products
Limited Ø Dabur India
Limited Ø Warner Lambert Ø Perfetti India
Limited Ø Hindustan Lever
Limited Ø Cavin Care Limited Ø Bajaj Sevashram
Limited Ø Tura
International Ø Godrej Soaps
Limited Ø Tata Tea Limited Ø Jivraj Tea
Limited Ø Amar Tea |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
Ø ING Vysya Bank Limited,
Patel Chambers Ground Floor, Sandhurst Bridge, Opera House, Mumbai – 400007,
Maharashtra, India Ø
Union
Bank of India- Santacruz (West) Branch, La Avanti Junction of S. V. Road and
Main Avenue Santacruz (West), Mumbai 400054, Maharashtra, India Ø
Punjab
National Bank, 82/5, Jay Apartment, Linking Road, Santacruz (West), Mumbai –
400054, Maharashtra, India Ø The Lakshmi
Vilas Bank Limited - 8, Kapoor Apartment, Chandavarkar Road, Borivali (West),
Mumbai - 400092, Maharashtra, India Ø
Corporation
Bank, Industrial Finance Branch, 104, Bharat House, B.S. Marg, Mumbai -
400001, Maharashtra, India Ø Bank
of Baroda, Khetwadi Branch, Shah Mansion, 213, Khetwadi Main Road, Mumbai –
400004, Maharashtra, India |
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|
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Facilities : |
|
||||||||||||||||||||||||
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|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Chaturvedi Sohan and Company Chartered Accountants |
|
Address : |
320 Tulsiani Chambers, Free Press Journal Marg, Nariman Point, Mumbai
– 400021, Maharashtra, India |
|
Income-tax PAN
of auditor or auditor's firm : |
AABFC7158A |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Atul C Shah and Associates Chartered Accountants |
|
Address : |
A 101 Sharda Gram Mathuradas Road,
Kandivali West, Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28634919/22959560 |
|
Fax No.: |
91-22-28634920 |
|
Income-tax PAN
of auditor or auditor's firm : |
AAKPS6810N |
|
|
|
|
Enterprises owned or significantly influenced by key management
personnel their relatives. : |
Ø Pallav Chemicals
and Solvents Private Limited [U24100MH2002PTC137599] Ø Mission
Packaging Industries Limited [U74999MH1994PLC076404] Ø T R Flexi-Pack |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,172,018 |
Equity Shares |
Rs. 10/- each |
Rs. 121.720
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
121.720 |
121.720 |
121.720 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Share Warrants |
5.692 |
5.692 |
5.692 |
|
|
4] Reserves & Surplus |
355.277 |
322.478 |
332.255 |
|
|
5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
482.689 |
449.890 |
459.667 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
732.403 |
719.604 |
660.873 |
|
|
2] Unsecured Loans |
116.492 |
96.306 |
100.664 |
|
|
TOTAL BORROWING |
848.895 |
815.910 |
761.537 |
|
|
DEFERRED TAX LIABILITIES |
30.955 |
33.379 |
28.089 |
|
|
|
|
|
|
|
|
TOTAL |
1362.539 |
1299.179 |
1249.293 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
376.115 |
414.944 |
465.789 |
|
|
Capital work-in-progress |
9.056 |
2.274 |
1.778 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.210 |
0.210 |
0.914 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
783.493
|
596.842 |
579.091 |
|
|
Sundry Debtors |
207.579
|
254.261 |
212.268 |
|
|
Cash & Bank Balances |
51.844
|
29.042 |
34.118 |
|
|
Other Current Assets |
39.667
|
46.969 |
0.000 |
|
|
Loans & Advances |
162.551
|
165.983 |
187.748 |
|
Total
Current Assets |
1245.134
|
1093.097 |
1013.225 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
140.384
|
141.728 |
191.526 |
|
|
Other Current Liabilities |
111.633
|
67.511 |
35.299 |
|
|
Provisions |
15.959
|
2.107 |
5.588 |
|
Total
Current Liabilities |
267.976
|
211.346 |
232.413 |
|
|
Net Current Assets |
977.158
|
881.751 |
780.812 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1362.539 |
1299.179 |
1249.293 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1606.092 |
1252.400 |
|
|
|
|
Other Income |
26.764 |
9.145 |
|
|
|
|
TOTAL (A) |
1632.856 |
1261.545 |
1352.850 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
1149.228 |
859.630 |
|
|
|
|
Manufacturing service costs |
74.548 |
57.743 |
|
|
|
|
Employee related expenses |
65.775 |
73.259 |
|
|
|
|
Administrative selling other expenses |
69.375 |
54.398 |
|
|
|
|
TOTAL (B) |
1358.926 |
1045.030 |
1159.870 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
273.930 |
216.515 |
192.980 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
180.997 |
145.614 |
122.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
92.933 |
70.901 |
70.243 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
49.801 |
53.892 |
55.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
43.132 |
17.009 |
14.866 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.333 |
7.010 |
(3.444) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
32.799 |
9.999 |
18.310 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
64.501 |
104.502 |
86.206 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
50.000 |
0.000 |
|
|
|
Wealth Tax |
0.000 |
0.000 |
0.014 |
|
|
BALANCE CARRIED
TO THE B/S |
97.300 |
64.501 |
104.502 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
1.765 |
4.604 |
12.677 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
7.729 |
17.887 |
|
|
|
Capital Goods |
0.000 |
0.000 |
1.333 |
|
|
|
Stores & Spares |
2.316 |
0.404 |
1.405 |
|
|
TOTAL IMPORTS |
2.316 |
8.133 |
20.625 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
2.69 |
0.82 |
1.53 |
|
|
|
Diluted |
2.26 |
0.69 |
1.29 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.01 |
0.79
|
1.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.69 |
1.36 |
N.A. |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.66 |
1.13
|
1.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.04
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.76 |
1.81
|
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.65 |
5.17
|
4.36 |
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 |
Yes |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Rupee term loans banks unsecured |
0.105 |
0.675 |
|
Fixed deposits unsecured |
0.283 |
0.515 |
|
Loans directors unsecured |
0.000 |
0.700 |
|
Deferred sales tax loan unsecured |
85.987 |
89.115 |
|
Other debt unsecured |
30.117 |
5.301 |
|
Total |
116.492 |
96.306 |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U22219MH1991PLC060717 |
|
Name of the
company |
MULTI-FLEX
LAMI-PRINT LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-54-55, MIDC, Mahad, Raigad - 402301, Maharashtra, India Email: mflbom@bom5.vsnl.net.in |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Others [Current Assets and movable and immovable Fixed Asset] |
|
Particular of
charge holder |
Punjab National
Bank, 82/5, Jay Apartment, Linking Road, Santacruz (West), Mumbai – 400054,
Maharashtra, India Email: pnbsantacruz@pnb.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
1. Deed of
hypothecation to secure LC on DA basis. 2. Deed of
hypothecation of goods and book debt to secure cash credit facility. 3. Deed of
hypothecation of block of assets as collateral security for working capital
limits and non fund based limits. |
|
Date of
instrument Creating the charge |
01.03.2012 |
|
Amount secured by
the charge |
Rs. 95.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Base rate + 3.5%
i.e 14.25% at present as applicable to A Rated borrower as per LAC/66 dated
10.06.2011 & will be revised as per bank's guidelines from time to time. Terms of Repayment As stipulate by
from time to time. Margin 25% on Stock and
40% on Book Debts. 10% (FD) on LC
and/ or as stipulated by bank from time to time. Extent and Operation of the charge First paripassu
charge on current assets (present and future) and second paripassu charge on
entire fixed Assets/block Assets (both existing and future) for total limits
of Rs.95.000 Millions comprising of, C/C (H) = Rs.85.000 Millions IMP/INLAND
L/C = Rs.10.000 Millions And /or as stipulated
by bank from time to time. Others As stipulated by
bank from time to time and as per agreements attached and as per sanction
letter of the bank. |
|
Short particulars
of the property charged |
First paripassu
charge by way of 1.hypothecation of the whole of
stock/goods/inventories/products (presents and future) kept at borrower
place/premises/ factories/godown etc or wherever else or in transit including
brought under l.c. 2. Hypothecation
of all book debts and receivables. 3. Hypothecation
of all current and movable assets of the company. Second paripassu
charge by way of 1. Hypothecation of all fixed and movable assets (presents
and future of the company. Properies
situated at plot no. D-50, D-51, D-52, D-54, D-55, D-56, D-57, D-58 in the Mahad
Industrial Area of M.I.D.C., Village Birwadi, Mahad. Current assets
and fixed assets situated at above address. |
CONTINGENT
LIABILITIES
· Bill Discounting
Rs. 297.851 Millions
· Outstanding
Letter of Credit Rs. 5.517 Millions
· Bank Guarantees
Rs. 0.354 Million
· Claims against
Company not acknowledged as debts and disputed Rs. 27.735 Millions
· Excise Duty
under dispute Rs.10.404 Millions against which Rs. 3.605 Millions has been paid
and shown as advances.
· Sales Tax liability
under dispute Rs. 55.219 Millions against which Rs. 8.500 Millions has been
paid and shown in advances, however as per expert opinion this liability will
be deleted in appeal.
· Sales tax
liability under dispute Rs. 155.786 Millions. Against which Rs. 0.500 Million
has been paid and shown in advance, however as per expert opinion this
liability will be deleted in appeal.
· The company has
obtained EPCG licenses issued under and subject to condition contained in
Export and Import policy 2002-2007. These license entitle the company to import
capital goods at concessional rate. In accordance with the terms of the EPCG
license the company has undertaken an export obligation of Rs. 713.681 Millions
to be discharged as per details given below. The company has discharged export
obligation of approximately Rs.90.063 Millions.
|
Year |
Obligation to be
discharged upto |
Value of
machineries |
Export
obligation |
Obligation
discharge upto March 2010 |
Obligation to be
discharge |
|
2004-05 |
2012-2013 |
106.970 |
295.632 |
90.063 |
205.569 |
|
2007-08 |
2015-2016 |
128.964 |
264.492 |
-- |
264.492 |
|
Machinery to
Import |
73.519 |
153.557 |
-- |
-- |
|
|
|
Total |
|
713.681 |
90.063 |
470.061 |
FIXED ASSETS:
Ø
Leasehold Land
Ø
Factory premises
Ø
Office premises
Ø
Factory equipment
Ø
Electrical fitting
Ø
Plant and machinery
Ø
Office equipment
Ø
Furniture and fixtures
Ø
Vehicles
Ø
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. 54.40 |
|
|
1 |
Rs. 81.57 |
|
Euro |
1 |
Rs. 71.24 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
37 |
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.