1. Summary Information
|
|
|
Country |
India |
|
Company Name |
SHUBHALAKSHMI
POLYESTERS LIMITED |
Principal Name 1 |
Mr. Ajay Agarwal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Vikas Agarwal |
|
|
|
Registration # |
11-190937 |
|
Street Address |
410, A-Wing,
Oberoi Chambers, Near Kuber , Andheri Link Road, Andheri (West), Mumbai –
400053, Maharashtra |
||
|
Established Date |
13.09.2005 |
SIC Code |
-- |
|
Telephone# |
91-22-26744375 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-26744377 |
Business Style 2 |
Exporter |
|
Homepage |
Product Name 1 |
Yarns |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.246,977,380/- |
Product Name 3 |
-- |
|
Shareholders |
Bodies corporate - 83.10 % Directors or relatives of
directors - 16.90 % |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
NO |
Business Period |
8 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Holding Company |
-- |
Shubhlaxmi Dyetex Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,200,732,000 |
Current Liabilities |
559,430,000 |
|
Inventories |
373,126,000 |
Long-term Liabilities |
2,977,761,000 |
|
Fixed Assets |
1,566,405,000 |
Other Liabilities |
247,026,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
3,784,217,000 |
|
Invest& other Assets |
1,964,354,000 |
Retained Earnings |
1,073,423,000 |
|
|
|
Net Worth |
1,320,400,000 |
|
Total Assets |
5,104,617,000 |
Total Liab. & Equity |
5,104,617,000 |
|
Total Assets (Previous Year) |
3,298,278,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
5,677,896,000 |
Net Profit |
164,363,000 |
|
Sales(Previous yr) |
4,537,472,000 |
Net Profit(Prev.yr) |
201,510,000 |
MIRA
INFORM REPORT
|
Report Date : |
13.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHALAKSHMI POLYESTERS LIMITED |
|
|
|
|
Registered
Office : |
410, A-Wing, Oberoi Chambers, Near Kuber , Andheri Link Road, Andheri (West),
Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-190937 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.246.977 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110MH2005PLC190937 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS05980C SRTS03261G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS2757C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Yarns. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 5300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a subsidiary of “Shubhalaxmi Dyetex Private Limited”. It is
a well established company having a satisfactory track record. Trade relations are reported as fair. Business is active. Payments
terms are slow but correct. The company can be considered for 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed
legislative work. India's medium-term growth outlook is positive due to a young
population and corresponding low dependency ratio, healthy savings and
investment rates, and increasing integration into the global economy. India has
many long-term challenges that it has not yet fully addressed, including
widespread poverty, inadequate physical and social infrastructure, limited
non-agricultural employment opportunities, scarce access to quality basic and
higher education, and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
LONG TERM RATING : CRISIL BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
17.02.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
SHORT TERM RATING : CRISIL A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
17.02.2012 |
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 Office : |
410, A-Wing, Oberoi Chambers, Near Kuber , Andheri Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26744375 / 6 |
|
Fax No.: |
91-22-26744377 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
401, Jeevandeep Complex, Ring Road, Surat – 395002, Gujarat, India |
|
Tel No.: |
91-261-2354402/3 |
|
Fax No.: |
91-261-2354401 |
|
E-mail Id : |
|
|
|
|
|
Factory 1: |
Survey No.179/1 / 4, Village: Silli, Silvassa-396230 Union Territory of Dadra and Nagar Haveli |
|
Tel. No.: |
91-260-3253441 / 42 |
|
Mobile No.: |
91-9825800850 |
|
Fax No.: |
91-260-2632939 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
376/2, 16-17-22, Opposite Rishi Packer, Kachigam, Union Territory of Daman and Diu |
|
Tel No.: |
91-260 - 2240117 / 2241535 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Ajay Agarwal |
|
Designation : |
Managing Director |
|
Address : |
A-302, Nanadigram Apartments, Ghod Dod Road, Opposite Parle Point,
Surat-395001, Gujarat, India |
|
Date of Birth/Age : |
23.02.1963 |
|
Date of Appointment : |
31.03.2009 |
|
PAN No.: |
AACPA1348P |
|
DIN No.: |
00088953 |
|
|
|
|
Name : |
Mr. Vikas Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
13.09.2005 |
|
PAN No.: |
ADVPA1863D |
|
DIN No.: |
00089659 |
|
|
|
|
Name : |
Mr. Bankesh Chandra Late Babulal Agarwal |
|
Designation : |
Director |
|
Address : |
41-Royal Accord, 4th Floor, Opposite Lokhandwala Complex,
Andheri (West)m Mumabi-400090, |
|
Date of Birth/Age : |
29.10.1951 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
00121080 |
|
|
|
|
Name : |
Mr. Ramu Raman Late Babulal Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, |
|
Date of Birth/Age : |
22.11.1949 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
00203860 |
|
|
|
|
Name : |
Mr. Manoj Agarwal |
|
Designation : |
Director |
|
Address : |
41-Royal Accord, 4th Floor, Opposite Lokhandwala Complex, Andheri
(West)m Mumabi-400090, |
|
Date of Birth/Age : |
16.08.1977 |
|
Date of Appointment : |
13.09.2005 |
|
PAN No.: |
AAKPA6827F |
|
DIN No.: |
00267951 |
|
|
|
|
Name : |
Mr. Raghavachari Srinivasan |
|
Designation : |
Director |
|
Address : |
C-6-1, Lloyds Garden, Appa Saheb Marathe Marg, Prabhadevi, Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1931 |
|
Date of Appointment : |
24.02.2011 |
|
PAN No.: |
AAQPS5847R |
|
DIN No.: |
00003968 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Kumar Poddar |
|
Designation : |
Secretary |
|
Address : |
C-201, Whispering Palms-XXclusive, Lokhandwala Complex, Kandiwali East, Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1974 |
|
Date of Appointment : |
01.07.2011 |
|
PAN No.: |
AIWPP1708N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Ajaykumar Agarwal |
|
846020 |
|
Bankesh Chandra Agarwal |
|
748445 |
|
Ramu Raman Agarwal |
|
737392 |
|
Manoj Kumar Agarwal |
|
563000 |
|
Vikas Agarwal |
|
526333 |
|
Shailendra Chaudhary |
|
34333 |
|
Vikram Chaudhary |
|
1000 |
|
Shubhlaxmi Dyetex Private Limited |
|
19682072 |
|
Ajay Kumar Agarwal –HUF |
|
97523 |
|
Babulal Agarwal –HUF |
|
54028 |
|
Bankesh Chandra Agarwal –HUF |
|
68334 |
|
Ramau Raman Agarwal - HUF |
|
162053 |
|
Gayatri Devi Agarwal |
|
119393 |
|
Kanta Agarwal |
|
3000 |
|
Narangi Devi Agarwal |
|
69000 |
|
Suman Agarwal |
|
131975 |
|
Chandra Choudhary |
|
12500 |
|
Shubhalakshmi Petro-Yarns Private Limited |
|
841337 |
|
Total |
|
24697738 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
83.10 |
|
Directors or relatives of directors |
|
16.90 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Yarns. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Parsi, Sheri Branch,
Surat-395003, Gujarat, India ·
State Bank of India - State Bank of India, BOB-
Parsi, Sheri BR SBI – Special Commercial BR, Surat – 395003, Gujarat, India ·
IDBI Bank Limited, ESS En House, Ghod Dod Road,
Surat - 395007, Gujarat, India ·
Allahabad Bank ·
Axis Bank Limited · Kotak Mahindra Bank |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
Reliance Capital Limited |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep Singhi and Associates Chartered Accountants |
|
Address : |
A/501, President Plaza, Near RTO, Ring Road, Nanpura, Surat, Gujarat, India |
|
PAN No.: |
ADRPS1701L |
|
|
|
|
Holding Company : |
· Shubhlaxmi Dyetex Private Limited CIN No.: U17119GJ1991PTC014906 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24697738 |
Equity Shares |
Rs.10/- each |
Rs.246.977
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 |
246.977 |
214.949 |
214.949 |
|
|
2] Share Application Money |
0.000 |
100.000 |
0.000 |
|
|
3] Reserves & Surplus |
1073.423 |
740.564 |
569.362 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1320.400 |
1055.513 |
784.311 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2976.786 |
1449.245 |
1075.528 |
|
|
2] Unsecured Loans |
0.975 |
22.820 |
9.831 |
|
|
TOTAL BORROWING |
2977.761 |
1472.065 |
1085.359 |
|
|
DEFERRED TAX LIABILITIES |
136.660 |
115.927 |
71.872 |
|
|
|
|
|
|
|
|
TOTAL |
4434.821 |
2643.505 |
1941.542 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1566.405 |
1480.620 |
1138.943 |
|
|
Capital work-in-progress |
1876.236 |
150.731 |
172.937 |
|
|
Expenditure Pending Allocation |
0.000 |
0.000 |
(15.559) |
|
|
|
|
|
|
|
|
INVESTMENT |
88.118 |
96.144 |
18.615 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
373.126
|
506.741 |
182.199 |
|
|
Sundry Debtors |
722.559
|
594.295 |
469.668 |
|
|
Cash & Bank Balances |
268.948
|
258.514 |
65.481 |
|
|
Other Current Assets |
1.739
|
0.305 |
0.000 |
|
|
Loans & Advances |
207.486
|
210.928 |
178.444 |
|
Total
Current Assets |
1573.858
|
1570.783 |
895.792 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
510.961
|
529.392 |
195.682 |
|
|
Other Current Liabilities |
48.469
|
29.517 |
19.730 |
|
|
Provisions |
110.366
|
95.864 |
54.155 |
|
Total
Current Liabilities |
669.796
|
654.773 |
269.567 |
|
|
Net Current Assets |
904.062
|
916.010 |
626.225 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.381 |
|
|
|
|
|
|
|
|
TOTAL |
4434.821 |
2643.505 |
1941.542 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5677.896 |
4537.472 |
3213.757 |
|
|
|
Other Income |
8.808 |
2.508 |
2.906 |
|
|
|
TOTAL (A) |
5686.704 |
4539.980 |
3216.663 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4709.905 |
3676.600 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(62.781) |
(60.714) |
|
|
|
|
Employee benefit expense |
97.475 |
83.982 |
|
|
|
|
Other expenses |
538.748 |
440.406 |
|
|
|
|
TOTAL (B) |
5283.347 |
4140.274 |
2984.489 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
403.357 |
399.706 |
232.174 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
110.481 |
80.487 |
62.943 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
292.876 |
319.219 |
169.231 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.666 |
80.733 |
52.057 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
198.210 |
238.486 |
117.174 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
33.847 |
36.976 |
16.579 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
164.363 |
201.510 |
100.595 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
137.632 |
206.522 |
75.876 |
|
|
TOTAL EARNINGS |
137.632 |
206.522 |
75.876 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
55.937 |
0.000 |
0.000 |
|
|
|
Stores & Spares |
4.511 |
0.000 |
0.000 |
|
|
|
Capital Goods |
799.113 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
859.561 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.65 |
9.37 |
4.68 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.89 |
4.44 |
3.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.49 |
5.26 |
3.65 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.31 |
7.82 |
5.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.23 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.26 |
1.39 |
1.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35 |
2.40 |
3.32 |
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 |
DETAILS OF
UNSECURED LOAN
(Rs. In Millions)
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
LOANS AND
ADVANCES |
|
|
|
- From Others |
0.975 |
22.820 |
|
Total |
0.975 |
22.820 |
NOTE:
The Registered Office of the company has been shifted from “418
Jeevandeep Complex,
OPERATIONS:
The ongoing expansion of the Continuous Poly Condensation Plant Project as on 30th June, 2011 located at Dahej, Gujarat is running on the scheduled time. As on 30th June, 2011, a total cost of Rs.85.900 Millions have been incurred, Rs.177.600 Millions have been given as advance, an order for Rs.1165.400 Millions have been placed for the Building, Plant and Machineries, Furniture and Fixtures, Land and Site Development and towards other miscellaneous expenses against the total project cost of Rs.3480.000 Millions
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U17110MH2005PLC190937 |
|
Name of the company |
SHUBHALAXI POLYESTERS LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
410, A-Wing, Oberoi Chambers, Near Kuber , Andheri Link Road, Andheri (West), Mumbai – 400053, Maharashtra, India E-mail id : investor@shubhalakshmi.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10007280 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Others (Stocks) |
|
Particular of charge holder |
Bank of Baroda, Parsi, Sheri Branch, Surat-395003, Gujarat, India E-mail Id : parsis@bankofbaroda.com |
|
Nature of instrument creating charge |
Joint deed of hypothecation and memorandum of entry in respect of extension/creation of mortgage by constructive/actual deposit of title deeds dated 30.01.2013. |
|
Date of instrument Creating the charge |
30.01.2013 |
|
Amount secured by the charge |
Rs.7369.600 Millions |
|
Brief of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Rate of Interest as per respective bank's sanctions Terms of Repayment Terms of repayment as per respective bank's sanctions Margin As per respective bank's sanctions Extent and Operation of the charge The Charge extends to the due repayment of loan of Rs.7369.600 Millions including the interest, additional interest, cost charges, expenses and all other monies payable under the agreement dated 30.01.2013. |
|
Short particulars of the property or asset(s) charged (including complete address and location of the property) |
All the piece and parcel N.A. factory land admeasuring 20,000 Sq Mtrs bearing Revenue No 179/1/2 at Sill, of Silvasa (U.T. of Dadra and N H) and premises and bldg admeasuring 6715 Sq Mtrs and 2 hector. All the piece and parcel N.A. land admeasuring 850 Sq Mtrs of Survey No 376/2 (16) of Village Kachigam, Nani Daman and premises and building now or hereafter standing thereon All the piece and parcel N.A. land admeasuring 750 Sq Mtrs of Survey No 376/2 (17) of Village Kachigam, Nani Daman and premises and building now or hereafter standing thereon All the piece and parcel N.A. land admeasuring 7588 Sq Mtrs 5767 Sq Mtr and 1518 Sq Mtrs bearing block No 35, 36 and 37 respectively of Moje Village Karanj, Taluka Mandvi, District Surat. All the piece and parcel N.A. land admeasuring 2000 Sq Mtr of Survey No 376/2(22) of Village Kachigam, Nani Daman and premises and building now or hereafter standing thereon All the piece and parcel of the property situated in the District of Surat, Taluka Choryasi, Village Piplod bearing Revenue Survey No 68/1/A and 68/2A, Dayalji Nagar Co-op Hsg Ltd, Plot No 13-C All the piece and parcel of Flat No B-306 admeasuring about 551 Sq Ft equivalent to 51.1879 Sq Mtrs on the 3rd Floor or Adeshwar Apartment Block No 2, constructed on the land bearing ward No 13 of Surat All the piece and parcel of Flat No A/ 302 Nandigram Co-op Hsg Soc Limited Opposite Punam Apartments Near Ghod Dod Road, Athwalines Surat bearing Survey No C.S. No 2233, Paiki of Ward Athwa, Surat All the piece and parcel of Shop No 3013 admeasuring 180 Sq Ft situated in trade House Building of Trade House Co-op Society Ltd located at Ward No 3 Nondth No 2886/B/2 and 2886/B/3 of Surat City All the piece and parcel of Shop No G-1,G-2,G-3, G-6,G-7,G-8 admeauring 175 Sq Ft each shop situated at Savera Complex, Opposite Krishna Petrol Pump, Udhna constructed on Plot No 66 to 69 City Survey. |
|
Date of instrument modifying the charge |
26.09.2012 |
|
Particulars of the present modification |
The Charge modified: The credit facilities of the company has been increased from Rs.5349.800 Millions to Rs.7369.600 Millions by creating extension of mortgage of earlier properties charged. Other terms and conditions remains the same. |
FIXED ASSETS
· Land and Buildings
· Plant and Equipment
· Furniture and Fixtures
· Motor Vehicles
· Office Equipment
· Computer Equipments
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.54.34 |
|
|
1 |
Rs.80.90 |
|
Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
--EFE |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.