MIRA
INFORM REPORT
|
Report Date : |
12.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
GLORY POLY FILMS LIMITED |
|
|
|
|
Formerly Known
As : |
GLORY POLY FILMS PRIVATE LIMITED |
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Registered
Office : |
201, Vintage |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
15.12.1997 |
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Com. Reg. No.: |
11-112461 |
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Capital
Investment/ Paid-up Capital: |
Rs. 594.681 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L92110MH1997PLC112461 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG05222A |
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PAN No.: [Permanent Account No.] |
AAACG5068K |
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Legal Form : |
Public Limited Liability company. The company’s shares are
listed on the Stock Exchanges. |
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|
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|
Line of Business
: |
Manufacturers of
flexible laminates and multilayer barrier (3 layers and 5 layer Nylon / EVOH
based) Films. |
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|
|
|
No. of Employees: |
250 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The financial position of the company is under pressure. Delay in the
payment is reported. It has incurred heavy loss from its operations during 2012. However, business is active. Payment terms are slow and delayed. The
company can be considered for business dealings on a safe and secured 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.
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 |
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Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
D (Long Term Bank Facilities) |
|
Rating Explanation |
Default |
|
Date |
January 30th , 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
D (Short Term Bank Facilities) |
|
Rating Explanation |
Default |
|
Date |
January 30th , 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name has been found enlisted as a
defaulter in the publicly available RBI Defaulters’ list and the details of the
same are as under :
|
Borrowers’ Name : |
GLORY POLYFILMS |
||||||||||||
|
Address : |
201, Wing – A Vintage |
||||||||||||
|
Name of Individual : |
·
Murlidharan
Krishnaswamy Mangudi ·
Murlidharan
Krishnaswamy Mangudi ·
Navin Chandrakant
Chokshi ·
Navin Chandrakant
Chokshi ·
Prakash Nandalal Kela ·
Prakash Nandalal Kela ·
Umesh Prakash Kela ·
Umesh Prakash Kela ·
Yogesh Prakash Kela ·
Yogesh Prakash Kela |
||||||||||||
|
Name of Credit Grantors / Bank & Branch: |
|
||||||||||||
|
Amount (Rs. In Millions) : |
Rs. 68.988 Millions |
||||||||||||
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 : |
201, Vintage |
|
Tel. No.: |
91-22-26514810 / 11 |
|
Fax No.: |
91-22-26514812 |
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E-Mail : |
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|
Website : |
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|
Area: |
1000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
51/ 4-A, 51/ 4-B, 51/ 4-C, 51/ 4-C, 51/ 4-D, 54/ 1-A, 54/ 1-C, 54/
2-A, 54/ 2-E, 54/ 2-H, 54/ 3-D and 54/ 6-A, 54/2-F, Daman Industrial Estate,
Village Kadiya, Daman, United Territory, India |
|
Tel. No: |
91-260-2220304 |
|
Fax No: |
91-260-2220305 |
|
|
|
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Factory 2 : |
Survey No. 261/1/2/4, Industrial Estate, Coastal Highway, Village
Dunetha, Nani Daman, Daman-396210, India |
|
Tel. No.: |
91-260-3984800 |
DIRECTORS
As on 31.03.2012
|
Name : |
Mr. Prakash N. Kela |
|
Designation : |
Chairman |
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|
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|
Name : |
Mr. Yogesh P. Kela |
|
Designation : |
Managing Director |
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|
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Name : |
Mr. Umesh P. Kela |
|
Designation : |
Executive Director |
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Date of Birth : |
03.09.1977 |
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Date of Appointment : |
15.12.1997 |
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Qualification : |
Bachelor of Engineering Degree
in production Engineering, Diploma in business management |
|
|
|
|
Name : |
Mr. Mkuralidharan Iyenger |
|
Designation : |
Independent Director |
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Date of Birth : |
21.11.1960 |
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Date of Appointment : |
30.05.2012 |
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Qualification : |
Chartered Accountant |
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|
|
|
Name : |
Mr. Navin C. Chokshi |
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Designation : |
Independent Director |
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Date of Birth : |
26.05.1953 |
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Date of Appointment : |
02.12.2005 |
|
Qualification : |
Chartered Accountant |
KEY EXECUTIVES
|
Name : |
Mr. Ranjeet Kumar Sharma |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2012
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
(1) Indian |
|
|
|
Individuals/ Hindu Undivided Family |
8182632 |
13.76 |
|
Sub Total |
8182632 |
13.76 |
|
(2) Foreign |
|
|
|
Total
Shareholding of Promoter and Promoter Group (A) |
8182632 |
13.76 |
|
(B) Public
Shareholding |
|
|
|
(1) Institutions |
|
|
|
(2)
Non-Institutions |
|
|
|
Bodies Corporate |
9727918 |
16.36 |
|
Individuals |
|
|
|
Individual shareholders holding nominal share capital up to Rs. 0.100
Million |
18851895 |
31.70 |
|
Individual shareholders holding nominal share capital in excess to Rs.
0.100 Million |
21538294 |
36.22 |
|
Any Other |
1167409 |
1.96 |
|
Clearing Member |
38681 |
0.07 |
|
Non Resident Indians |
1128728 |
1.90 |
|
Sub Total |
51285516 |
86.24 |
|
Total Public
Shareholding (B) |
51285516 |
86.24 |
|
Total (A) + (B) |
59468148 |
100.00 |
|
(C) Shares held
by custodians and against which Depository Receipts have been issued |
-- |
-- |
|
(1) Promoter and Promoter Group |
-- |
-- |
|
(2) Public |
-- |
-- |
|
Sub Total |
-- |
-- |
|
Total (A) +(B)+
(C) |
59468148 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of
flexible laminates and multilayer barrier ( 3 layers and 5 layer Nylon / EVOH
based ) Films |
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Products : |
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PRODUCTION STATUS
As on 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
|
|
Value |
|
Plastic Films, Bags and Pouch |
Qty (KGS) |
1562272208 |
GENERAL INFORMATION
|
No. of Employees : |
250 Approximately |
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Bankers : |
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Facilities : |
Additional Information to Long Term Borrowings The Long term portion of term loan are shown under long term
borrowings and current maturities of the Long term borrowings are shown under
the current maturities as per the disclosure requirements of the Revised
Schedule VI to the Companies Act, 1956. Details of
Securities and Terms of Repayments Secured Loan Term Loan from
Banks i) Term Loan from State Bank of These loans are further collaterally secured by way of extnetion of
first charge on the entire current assets of the company consisting of raw
materials, stock in process, finished goods, stores & spares, other
consumables and receivables with Indian Overseas Bank and HSBC Bank on pari
passu basis. Following are term loans availed
by the company:
Term Loan from Indian Overseas Bank are secured by way of first charge
on pari-passu basis on fixed assets both present and future. These loans are further
collaterally secured by way of second charge on pari-passu basis with State
Bank of
Car Loan Loan against Vehicles from Kotak Mahindra Bank and Reliance Capital
Limited are secured against hypothecation of vehicles belongs to the company
including third party.
Loan against Keyman Insurance Policy is granted from Life Insurance
Corporation of The above facilities are secured
by way of 1st pari passu charge with other bank on entire current assets of
the company consisting of Raw Material, Work in Progress, Finished Goods,
Stores & Spares, Other Consumables and Book Debts and 2nd charge on pari
pasu with other bank on the fixed assets of the company both present and
future consisting of Plant & Machinery, Land & Building, Factory
Furniture & Fixture alongwith personal gurantee of Shri Prakash Kela,
Chairman, Shri Yogesh Kela, Managing Director and Shri Umesh Kela, Executive
Director. |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Mittal and Associates Chartered Accountants |
|
Address : |
Mumbai |
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Internal Auditors : |
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|
Name : |
M/s. ADV and Associates Chartered Accountant |
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Address: |
Mumbai |
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|
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Associates/Subsidiaries : |
Immense Packaging Private Limited |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
63000000 |
Equity Shares |
Rs.10/- each |
Rs. 630.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
59468148 |
Equity Shares |
Rs.10/- each |
Rs. 594.681 Millions |
|
|
|
|
|
Reconciliation of
the shares outstanding at the beginning and at the end of the reporting year :
|
Particulars |
No. of Shares |
Amount |
|
At the beginning of the year |
59468148 |
Rs. 594.681 Millions |
|
Add: Issued during the year |
- |
- |
|
Less: Bought back during the year |
- |
- |
|
Outstanding at the end of year |
59468148 |
Rs. 594.681 Millions |
Terms/rights attached to equity shares :
The company has only one class of equity shares having a par value of Rs. 10/-. Each holder of equity shares is entitled to one vote per share.
Details of
shareholders' holding more than 5% shares in the company :
|
Particulars |
No. of Shares |
% Of Holding |
|
Yogesh Kela |
3361839 |
5.65 |
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 |
594.681 |
594.681 |
244.681 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
607.708 |
805.165 |
624.034 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1202.389 |
1399.846 |
868.715 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
896.070 |
825.270 |
934.529 |
|
|
2] Unsecured Loans |
97.195 |
90.580 |
115.360 |
|
|
TOTAL BORROWING |
993.265 |
915.850 |
1049.889 |
|
|
DEFERRED TAX LIABILITIES |
39.561 |
41.757 |
38.280 |
|
|
|
|
|
|
|
|
TOTAL |
2235.215 |
2357.453 |
1956.884 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1370.288 |
1510.885 |
864.615 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
428.502 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
16.641 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
120.446
|
202.684 |
134.623 |
|
|
Sundry Debtors |
508.110
|
477.009 |
273.325 |
|
|
Cash & Bank Balances |
41.101
|
23.906 |
25.608 |
|
|
Other Current Assets |
254.664
|
120.210 |
0.000 |
|
|
Loans & Advances |
456.111
|
377.690 |
640.368 |
|
Total
Current Assets |
1380.432
|
1201.499 |
1073.924 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
339.803
|
176.522 |
326.843 |
|
|
Other Current Liabilities |
163.772
|
161.977 |
61.679 |
|
|
Provisions |
11.930
|
16.432 |
50.543 |
|
Total
Current Liabilities |
515.505
|
354.931 |
439.065 |
|
|
Net Current Assets |
864.927
|
846.568 |
634.859 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
12.267 |
|
|
|
|
|
|
|
|
TOTAL |
2235.215 |
2357.453 |
1956.884 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1248.859 |
1677.203 |
1137.092 |
|
|
|
Other Income |
68.713 |
78.238 |
10.536 |
|
|
|
TOTAL |
1317.572 |
1755.441 |
1147.628 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
746.105 |
|
|
|
|
|
Purchase of Stock in trade |
185.486 |
635.290 |
|
|
|
|
Increase/(Decrease) in stock |
33.020 |
(35.286) |
|
|
|
|
Employees benefits expense |
30.230 |
24.060 |
|
|
|
|
Other expense |
136.795 |
97.088 |
|
|
|
|
Compensation receivable – written off |
28.929 |
0.000 |
|
|
|
|
Profit before extraordinary items and tax |
0.000 |
29.650 |
|
|
|
|
TOTAL |
1160.565 |
1512.660 |
973.229 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
157.007 |
242.781 |
174.399 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
213.440 |
135.293 |
68.856 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(56.433) |
107.488 |
105.543 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
143.219 |
90.317 |
30.464 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(199.652) |
17.171 |
75.079 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(2.196) |
12.099 |
35.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) |
197.456 |
5.072 |
39.566 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(3.32) |
0.09 |
2.17 |
|
QUARTERLY /
SUMMARISED RESULTS
|
PARTICULARS |
30.06.2012 |
30.09.2012 |
31.12.2012 |
|
Type |
1st Quarter |
2ND
Quarter |
3rd
Quarter |
|
Net Sales |
187.800 |
207.000 |
179.600 |
|
Total Expenditure |
174.900 |
216.200 |
192.500 |
|
PBIDT (Excl
OI) |
13.000 |
9.200 |
(12.900) |
|
Other Income |
0.000 |
0.000 |
0.000 |
|
Operating
Profit |
13.000 |
9.200 |
(12.900) |
|
Interest |
23.100 |
14.500 |
11.900 |
|
Exceptional
Items |
0.000 |
0.000 |
0.000 |
|
PBDT |
(10.100) |
(23.700) |
(24.800) |
|
Depreciation |
35.800 |
35.900 |
35.900 |
|
Profit
Before Tax |
(45.900) |
59.500 |
(60.700) |
|
Tax |
0.000 |
0.000 |
0.000 |
|
Provisions and Contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After tax |
(45.900) |
(59.500) |
(60.700) |
|
Extraordinary Items |
0.000 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
0.000 |
|
Net Profit |
45.900 |
(59.500) |
(60.700) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
14.99
|
0.29 |
3.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(15.99)
|
1.03 |
6.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(7.26)
|
0.63 |
3.87 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.17)
|
0.01 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.83
|
0.65 |
1.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.68
|
3.39 |
2.45 |
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 |
No |
|
8] |
No. of employees |
Yes |
|
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 |
Yes |
|
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 |
No |
|
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 |
FINANCIAL RESULTS
:
During the year , the company has
recorded a total income of Rs. 1317.572 millions (previous year Rs. 1755.441 millions), representing a decrease
of approximately 25.54%. The Company incurred a Loss before tax of Rs. 199.652
millions (previous year Profit Before Tax Rs. 17.171 millions). The Loss for
the year was on account of increase in raw material prices, which largely
depends on the movement of crude oil prices. The Directors are optimistic of a
quick turnaround in the coming years, due to the rise in demand for the plastic
packaging products in India and abroad.
PACKAGING INDUSTRY :
The global plastic industry is
witnessing continuous shift of production bases to low-cost Asian countries. This
coupled with increasing foreign investments, and rise in the number of new
manufacturing establishments are presenting Asia-Pacific as a prime driver of
growth in the plastics industry. In particular, China and India offer enormous
potential due to expanding automobile demand, resurgence in growth fundamentals
across all end-use markets, such as rebuilding of consumer/business confidence,
increasing income levels, rebound in general production, and rise in capital
investments in all end-use sectors.
Besides growing demand from the
automobile, mining, chemical, construction and agricultural industries, the
Asia-Pacific plastics market is propelled by trends such as globalization,
demand for durable products and urbanization Packaging sector is one of the
major consumers of plastics. Apart from being used as a substitute for
traditional materials, plastic packaging is being increasingly used in
healthcare and personal care products, and packaged foods and beverages
markets. Advancements in packaging material science and mounting demand for
product protection and stability are further driving demand for plastic
packaging. Bioplastic demand is on the rise and is expected to grow, owing to
novel applications in the packaging industry, primarily for food and beverages.
Emerging nations with underdeveloped or no recycling facilities are expected to
benefit considerably from bioplastics products and packaging.
Global production and consumption of
plastics increased from less than 5 million tonnes in 1950 to 260 million
tonnes in 2007. It is expected to reach 297.5 million tons by 2015 out of which
a third is used for packaging.
PACKAGING IN INDIA :
Today, packaging is produced more
quickly and efficiently. It is generally lighter in weight, uses less material,
is easier to open, dispense from, reseal, store, and dispose. Packaging has
evolved from a relatively small range of heavy, rigid containers made of wood,
glass, and steel, to a broad array of rigid, semi rigid and flexible packaging
options increasingly made from specialized lightweight materials.
Encouraged by strong economic
growth, stimulation in processed food production and retailing and the growing
personal disposable incomes of the 350 million middle-income earners in India,
will drive growth in the flexible packaging industry over the next five years
averaging 15% per annum through to 2015.
FLEXIBLE PACKAGING :
Flexible packaging consists of
multi-layer laminated sheets of plastics (PVC, LDPE, HDPE, BOPP, BOPET), paper,
cloth, or metal foils that are used separately or in combination for various
packaging applications. However, this article discusses flexible packaging as
laminates of plastics that have a unique set of properties that ensure
toughness, moisture resistance, aroma retention, gloss, grease resistance, heat
sealability, printability, low odour and taste. These find use in packaging
food, tea, coffee, spices, chewing tobacco, bakery, confectionary, oils, and in
certain other non-food applications such as household detergents, health and
personal care, soaps, and shampoos.
FLEXIBLE PACKAGING DEMAND IN
Worldwide demand for converted
flexible packaging is forecasted to grow 3.6 percent per year to over 19
million metric tons in 2013, faster than real (inflation adjusted) gains in
GDP. Factors contributing to rising converted flexible packaging demand include
growth in food and beverage shipments, which represent the largest market by
far. In addition, cost performance and source reduction advantages, as well as
ongoing developments in high-barrier resins and value added features, will
continue to favour flexible packaging products over their rigid packaging
materials.
Flexible packaging has reached
market maturity in the developed nations of North America and
The Indian flexible packaging
Market 2011 shows
UNSECURED LOAN :
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
From Bank |
|
|
|
DBS Bank |
34.494 |
35.955 |
|
From Directors
and Relatives |
0.000 |
9.000 |
|
From Others |
62.701 |
45.625 |
|
Total |
97.195 |
90.581 |
Notes :
DBS Bank -
The said Bill Discounting facility sanctioned by DBS Bank to Company
against personal guartnees of Shri Yogesh Kela, Managing Director and Shri
Umesh Kela, Executive Director.
FIXED ASSETS :
- Land
- Building
- Plant and Machinery
- Electrical Equipment
- Office Equipment
- Furniture and Fixtures
- Vehicles
- Computers and peripherals
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.54.29 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.70.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
YES |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
18 |
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.