MIRA
INFORM REPORT
|
Report Date : |
10.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
VANDANA GLOBAL LIMITED [w.e.f.07.08.2002] |
|
|
|
|
Formerly Known
As : |
VANDANA GLOBAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ground Floor, 20
Amar Industrial Estate, 159, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
12.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-219948 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 96.257
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH1996PLC219948 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV13026G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV2018E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Sponge and Steel, Power, Ferro
Alloys and Trading of Iron Ore Fines. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
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 6668000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well established and reputed company having a
satisfactory track record. It has recorded better growth in its turnover
during 2012. Trade relations are fair. Business is active. General financial
position is satisfactory. Payments are reported as usually correct. The company can be considered good for normal business dealings at
usual trade terms and conditions |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term Bank loan facility : B |
|
Rating Explanation |
High risk of default |
|
Date |
December 17, 2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Bank Guarantee : A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk |
|
Date |
December 17, 2012 |
Note:
* Ratings are under continuous surveillance as
Crisil is awaiting for adequate information from company.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Pankaj B. |
|
Designation : |
General Manager of Finance |
|
Contact No.: |
91-9301721710 |
|
Date : |
09.05.2013 |
LOCATIONS
|
Registered Office : |
Ground Floor, 20
Amar Industrial Estate, 159, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9301721710 [Mr. Pankaj] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
7, Darya Nagar House, 1st Floor, 69M, Karve Road, Mumbai,
Maharashtra, India |
|
|
|
|
Corporate Office : |
Vandana Bhawan, M.G. Road, Raipur - 492001, Chhattisgarh,
India |
|
Tel. No.: |
91-771-4030440 |
|
|
|
|
Factory : |
Siltara Industrial Area, Phase – 2, Siltara, Raipur – 493111,
Chhattisgarh, India |
|
Tel. No.: |
91-771-2407250/ 2535440 |
|
Fax No.: |
91-771-2407253 |
|
Area : |
10 acres |
|
Location : |
Owned |
DIRECTORS
AS ON 08.09.2012
|
Name : |
Mr. Gopal Prasad Agrawal |
|
Designation : |
Managing director |
|
Address : |
“Vandana” 21/54 Opposite Civil Lines, Telephone Exchange, Civil Lines,
Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
27.06.1956 |
|
Qualification : |
M.Com, LLB |
|
Date of Appointment : |
12.02.1996 |
|
PAN No.: |
ADVPA4105C |
|
DIN No.: |
00103805 |
|
|
|
|
Name : |
Mr. Vijit Kumar Agrawal |
|
Designation : |
Whole-time director |
|
Address : |
“Vandana” 21/54 Opposite Civil Lines, Telephone Exchange, Civil Lines,
Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
28.08.1980 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
02.02.2004 |
|
PAN No.: |
ADVPA4191Q |
|
DIN No.: |
00103847 |
|
|
|
|
Name : |
Mr. Prahlad Kumar Agrawal |
|
Designation : |
Director |
|
Address : |
Vandana Building, M G Road, Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
16.03.1963 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
12.02.1996 |
|
DIN No.: |
00103863 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Chaudhari |
|
Designation : |
Whole-time director |
|
Address : |
6, Prasad, Zenith Staff Colony, Khopoli, Raigad – 410203, Maharashtra,
India |
|
Date of Birth/Age : |
01.04.1959 |
|
Date of Appointment : |
02.08.2012 |
|
DIN No.: |
01705352 |
|
|
|
|
Name : |
Mr. Dipen Vasant Parekh |
|
Designation : |
Additional director |
|
Address : |
501, 5th Floor, Umerji House, Telli Gully, Andheri [East],
Mumbai – 400069, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1960 |
|
Date of Appointment : |
20.03.2012 |
|
DIN No.: |
03227898 |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj B. |
|
Designation : |
General Manager of Finance |
|
|
|
|
Name : |
Mr. Ajay Tipte |
|
Designation : |
Company Secretary |
|
Address : |
LIG – 534, Padmanabhpur Durg - 491001, Chhattisgarh, India |
|
Date of Birth/Age : |
19.05.1984 |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AGAPT2828D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 08.09.2012
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 28.09.2012
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
175000 |
|
|
|
|
|
Total |
|
175000 |
AS ON 05.10.2012
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
150000 |
|
|
|
|
|
Total |
|
150000 |
AS ON 08.10.2012
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
50000 |
|
|
|
|
|
Total |
|
50000 |
AS ON 10.10.2012
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
125000 |
|
|
|
|
|
Total |
|
125000 |
AS ON 13.10.2012
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
125000 |
|
|
|
|
|
Total |
|
125000 |
AS ON 04.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
V G Real Estates Private Limited |
|
250000 |
|
|
|
|
|
Total |
|
250000 |
AS ON 06.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
V G Real Estates Private Limited |
|
250000 |
|
|
|
|
|
Total |
|
250000 |
AS ON 11.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Ganga Shipping and Logistic Solutions Private Limited |
|
250000 |
|
|
|
|
|
Total |
|
250000 |
AS ON 13.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Nirsons Infrastructures Private Limited |
|
193000 |
|
|
|
|
|
Total |
|
193000 |
AS ON 14.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Nirsons Infrastructures Private Limited |
|
250000 |
|
|
|
|
|
Total |
|
250000 |
AS ON 15.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Ganga Shipping and Logistic Solutions Private Limited |
|
250000 |
|
|
|
|
|
Total |
|
250000 |
AS ON 18.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Nirsons Infrastructures Private Limited |
|
57000 |
|
|
|
|
|
Total |
|
57000 |
AS ON 21.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
150000 |
|
|
|
|
|
Total |
|
150000 |
AS ON 22.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
375000 |
|
|
|
|
|
Total |
|
375000 |
AS ON 28.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
250000 |
|
|
|
|
|
Total |
|
250000 |
AS ON 30.03.2013
|
Name of Allottees [Preference] |
|
N. of Shares |
|
Shakuntala Devi Agarwal, Business |
|
125000 |
|
|
|
|
|
Total |
|
125000 |
AS ON 08.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
91.92 |
|
Directors
or relatives of directors |
|
8.08 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Sponge and Steel, Power, Ferro Alloys
and Trading of Iron Ore Fines. |
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Products : |
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Exports : |
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Products : |
Ferro Alloys |
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Countries : |
Ø Europe |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production [Qty] |
|
Sponge Iron |
M.T. |
500000 |
231000 |
156068.000 |
|
M.S. Ingots/ M.S. Billet |
M.T. |
150000 |
129600 |
-- |
|
Power Plant |
MW |
72.50 |
40.05 |
-- |
|
Silico Manganese/ Ferro Manganese |
M.T. |
18000 |
18000 |
3114.500 |
GENERAL INFORMATION
|
Customers : |
Wholesalers |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
Ø Oriental Bank of
Commerce, Main Branch, Raj Tower, Tatyapara Chowk, Raipur - 492001,
Chhattisgarh, India Ø HDFC Bank Limited,
HDFC Bank House, Senapati Bapat Marg, Lower Parel [West], Mumbai - 400013,
Maharashtra, India Ø Bank of India,
Raipur Mid Corporate Branch, Office No.1, 1st Floor, Maruti Business Park, GE
Road, Raipur - 492001, Chhattisgarh, India Ø ICICI Bank
Limited, Raipur, Madhya Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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|
Auditors 1 : |
|
|
Name : |
Bamb Taori and Company Chartered Accountants |
|
Address : |
B-36/5,
Shilendra Nagar, Raipur, Chhattisgarh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFB6620M |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani
Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Enterprises over
which Key managerial person or their relatives have significant influence : |
Ø Vandana Vidhyut
Limited [U04010CT1995PLC010142] Ø Vandana
Industries Limited [U25202CT1993PLC007901] Ø Vandanaa Energy
and Minerals Limited [U40100CT2008PLC020919] Ø Vandanaa Ispat
and Power Limited [U27101CT2008PLC020918] Ø Singhal Forestry
Private Limited [U02000MH1996PTC099544] Ø Vandana Ispat
Limited [U27106CT1995PLC008909] Ø Vandana Rolling
Mills Limited [U26954CT1985PLC003085] Ø Ganga Shipping
and Logistic Solutions Private Limited
[U63090MH1996PTC100527] Ø Nirsons
Infrastructures Private Limited
[U74900MH1996PTC100583] Ø Shakuntala
Enclave Private Limited [U70100MH2005PTC155501] Ø V G Real Estates
Private Limited [U70100MH2005PTC157302] Ø Waylink
Suppliers Private Limited [U51109WB1996PTC078263] Ø Ferguson Traders
Private Limited [U51909WB1995PTC069455] Ø Spread Merchant
Private Limited [U51109WB1994PTC064765] |
|
|
|
|
Joint venture
company : |
Ø Raipur
Infrastructure Company Private Limited
[U45203CT2004PLC016321] Ø Chhattisgarh
Captive Coal Mining Limited [U01410CT2005PLC018224] |
|
|
|
|
Subsidiaries : |
Ø Vandana Power
Ventures Limited [U40103MH2009PLC196327] Ø Kalawati Ispat
and Power Private Limited [U27100MH2005PTC156733] Ø VG South Africa
Mining (Pty) Limited Ø V G Power and
Minerals Pte Limited Ø V G Overseas
Limited Ø V.G. Enerji Ve
Medencilik Limited STI |
CAPITAL STRUCTURE
AS ON 08.09.2012
Authorised Capital : Rs.
130.000 Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,625,653 |
Equity Shares |
Rs. 10/- each |
Rs. 96.257 Millions
|
|
3,025,000 |
Preference Shares |
Rs. 10/- each |
Rs. 30.250
Millions |
|
|
Total |
|
Rs. 126.507 Millions |
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,625,653 |
Equity Shares |
Rs. 10/- each |
Rs. 96.257
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 |
96.257 |
96.257 |
95.807 |
|
|
2] Share Application Money |
0.000 |
0.000 |
5.100 |
|
|
3] Reserves & Surplus |
1570.762 |
1257.265 |
905.692 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1667.019 |
1353.522 |
1006.599 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1705.112 |
1684.416 |
1576.890 |
|
|
2] Unsecured Loans |
112.814 |
2.315 |
3.727 |
|
|
TOTAL BORROWING |
1817.926 |
1686.731 |
1580.617 |
|
|
DEFERRED TAX LIABILITIES |
271.066 |
264.193 |
172.832 |
|
|
|
|
|
|
|
|
TOTAL |
3756.011 |
3304.446 |
2760.048 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1584.644 |
1671.696 |
1908.255 |
|
|
Capital work-in-progress |
412.383 |
186.376 |
82.634 |
|
|
|
|
|
|
|
|
INVESTMENT |
244.830 |
144.859 |
102.613 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
672.810
|
479.467 |
430.092 |
|
|
Sundry Debtors |
472.842
|
232.617 |
170.548 |
|
|
Cash & Bank Balances |
96.462
|
131.352 |
85.037 |
|
|
Other Current Assets |
147.367
|
138.586 |
0.000 |
|
|
Loans & Advances |
834.409
|
756.419 |
289.594 |
|
Total
Current Assets |
2223.890
|
1738.441 |
975.271 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
331.615
|
260.868 |
221.507 |
|
|
Other Current Liabilities |
307.845
|
118.455 |
74.025 |
|
|
Provisions |
70.276
|
57.603 |
13.345 |
|
Total
Current Liabilities |
709.736
|
436.926 |
308.877 |
|
|
Net Current Assets |
1514.154
|
1301.515 |
666.394 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.152 |
|
|
|
|
|
|
|
|
TOTAL |
3756.011 |
3304.446 |
2760.048 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
4603.109 |
3848.911 |
3399.532 |
|
|
|
Other Income |
13.470 |
31.602 |
12.578 |
|
|
|
TOTAL (A) |
4616.579 |
3880.513 |
3412.110 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
3036.922 |
2495.318 |
|
|
|
|
Manufacturing service costs |
422.252 |
284.349 |
|
|
|
|
Employee related expenses |
139.013 |
103.239 |
|
|
|
|
Administrative selling other expenses |
144.422 |
100.587 |
|
|
|
|
TOTAL (B) |
3742.609 |
2983.493 |
2720.499 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
873.970 |
897.020 |
691.611 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
209.081 |
165.949 |
210.999 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
664.889 |
731.071 |
480.612 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
259.242 |
287.492 |
328.580 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
405.647 |
443.579 |
152.032 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
92.150 |
96.056 |
51.766 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
313.497 |
347.523 |
100.266 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
737.215 |
389.692 |
289.126 |
|
|
|
|
|
|
|
|
|
Add |
PRIOR PERIOD
ITEMS |
0.000 |
0.000 |
0.300 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1050.712 |
737.215 |
389.692 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.000 |
80.600 |
0.000 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
35.158 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
32.57 |
36.16 |
10.50 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
6000.000 |
|
|
|
|
|
The above information has been parted by Mr. Pankaj B. (General Manager
of Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.79
|
8.96 |
2.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.79
|
11.52 |
4.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.65
|
13.01 |
5.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.33 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.09
|
1.25 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.13
|
3.98 |
3.16 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
||
|
Sundry creditors |
|
|
|
|
Creditors due others |
331.615 |
260.868 |
221.507 |
|
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
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 |
100.530 |
0.000 |
|
Deposits related parties unsecured |
11.734 |
0.997 |
|
Deferred sales tax loan unsecured |
0.550 |
1.318 |
|
Total |
112.814 |
2.315 |
Note:
The registered office of the company has been shifted from Gujral's Building,
5th Floor, 167, CST Road, Opposite IDBI Bank, Kalina, Santacruz (East), Mumbai
– 400098, Maharashtra, India to the present w.e.f.13.08.2011
PERFORMANCE REVIEW
During the year, the
Company has achieved an aggregate turnover of Rs. 4603.100 Millions registering
an increase of 19.60 % over the previous year’s Rs. 3848.900 Millions. Profit
after tax stands at Rs. 313.500 Millions. Reserves and Surplus have increased
to Rs. 1570.800 Millions as compared to last year’s Rs.1257.300 Millions
EXPANSION
During the fiscal
year 2009, the company had planned for setting up of 65 MW Power Plant at
Sirgitti Industrial Area, Bilaspur and during the last year Company has
complied with the International Competitive Bidding procedure for the said
project and acquired land for the said expansion plan. The Company has already
tied up with the various Banks / Financial Institutions for the financial
arrangement which would be required for setting up of 65 MW Power Plant.
Project is under progress.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51101MH1996PLC219948 |
|
Name of the
company |
VANDANA GLOBAL
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Ground Floor, 20
Amar Industrial Estate, 159, CST Road, Kalina, Santacruz (East), Mumbai –
400098, Maharashtra, India Email: codinthree@rediffmail.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10416641 |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Oriental Bank of Commerce, Main Branch, Raj Tower, Tatyapara Chowk,
Raipur - 492001, Chhattisgarh, India Email: bm0188@obc.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Title deeds dated
21.03.2013 |
|
Date of
instrument Creating the charge |
20.03.2013 |
|
Amount secured by
the charge |
Rs. 980.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Shall Remain Same Terms of Repayment Shall Remain Same Margin Shall Remain Same Extent and Operation of the charge Charge over
immovable properties of the company as described in Schedule "B" of
Title Deeds dated 21.03.2013 |
|
Short particulars
of the property charged |
Land adm 9.26
Acres in Kh.No.1/2, 20/1, 20/8, 20/11, 39/1, 39/2, 39/3, 39/4, 20/10, 20/12,
20/13, 20/4, 428/1, 428/2, 429, 475/1 at Industrial Growth center, Siltara
Phase-II, Raipur leased to the company by CSIÜ Land adm. 6.67 Acres
in Kh.No. 4/10, 4/2, 4/3, 20/14, 20/7, 37/3, 36/6, 36/2, 20/3, 21/2, 7,
4/55/1, 5/2, 4/9. 4/4, 20/2 at Industrial Growth center, Siltara, Phase-II,
Raipur leased to the company by CSIDC Land adm. 10.004
Acres in Kh.No. 4/10, 4/2, 4/3, 20/14, 20/7, 37/3, 38/1, 38/2, 38/4, 38/5,
20/8, 20/1, 20/2, 1/1, 3/1, 3/2, 4/7, 4/8, 4/1, 20/9, 20/6, 20/3, 28/5,
430/1, 430/2, 430/3, 431 at Industrial Growth center, Siltara, Phase-II,
Raipur leased to the company by CSIDC Land adm. 20.80
Acres Industrial Growth center, Siltara, Phase-II, Raipur leased to the
company by CSIDC vide regd. lease deed date 03.12.2002 Land adm. 10.17
Acres Industrial Growth center, Siltara, Phase-II, Raipur leased to the
company by CSIDC vide regd. lease deed date 20.12.2005 |
|
Particulars of
the present modification |
Modify due to
extension of charge over immovable properties of the company. |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 |
31.03.2010 |
|
|
(Rs. in Millions) |
|
|
a) Bank Guarantee
from Oriental Bank of Commerce, Raipur for Purchase of raw material |
66.305 |
44.257 |
|
b) Bank Guarantee from Indian Overseas Bank, Raipur for Purchase of
raw material |
13.517 |
10.300 |
|
c) Letter of Credit from Oriental Bank of Commerce, Raipur for
Purchase of raw material |
251.545 |
0.000 |
|
d) Letter of Credit from Indian Overseas Bank, Raipur for Purchase of
raw material |
113.130 |
0.000 |
|
e) Corporate Guarantee
given to third parties on behalf of Wholly owned subsidiaries/Associate
/Joint Venture Companies |
1144.100 |
97.300 |
FIXED ASSETS:
Ø Land
Ø Building
Ø Factory building
Ø Plant and
Machinery
Ø Computer and
Equipments
Ø Furniture and
Fixtures
Ø Vehicles
Ø Motor vehicles
Ø Computer 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. 54.24 |
|
|
1 |
Rs. 84.30 |
|
Euro |
1 |
Rs. 71.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
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.