MIRA INFORM REPORT
|
Report Date : |
28.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEO WHEELS LIMITED (CN) (w.e.f. 26.03.2007) |
|
|
|
|
Formerly Known
As : |
VERSATILE HITECH CONSULTANTS AND ENGINEERS LIMITED |
|
|
|
|
Registered
Office : |
R-202, MIDC, Rabale Police Station, P.O. Ghansol, Navi Mumbai -
400701, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
08.04.1987 |
|
|
|
|
Com. Reg. No.: |
11-043104 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 38.958 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28920MH1987PLC043104 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV10281F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV3769Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aluminum Alloy Wheels |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (53) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 580000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track
record. The company is doing well. Trade relations are reported as fair.
Business is active. Payments are reported to be regular and as per
commitments. The company can be considered normal 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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 1A |
|
Rating Explanation |
Highest performance capability and high financial strength. |
|
Date |
August 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 : |
R-202, MIDC, Rabale Police Station, P.O. Ghansol, Navi Mumbai-400701,
Maharashtra, India |
|
Tel. No.: |
91- 22-27602272/ 65133830/ 35133831 |
|
Fax No.: |
91-22-27690010 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Paresh Rashiklal Kaceria |
|
Designation : |
Director |
|
Address : |
Smruti, 1st Floor, 18 Bhulabhai Desai Road, Mahalaxmi, Mumbai - 400 026, Maharashtra, India |
|
Date of Birth/Age : |
01.12.1949 |
|
Date of Appointment : |
23.02.1994 |
|
DIN No.: |
00024513 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U28920MH1987PLC043104 |
NEO
WHEELS LIMITED (CN) |
Director |
23-02-94 |
23-02-94 |
- |
Active |
NO |
|
2 |
U17110MH1995PTC093772 |
REMEX
TEXTILES PRIVATE LIMITED |
Director |
15-02-97 |
15-02-97 |
- |
Active |
NO |
|
3 |
U24121MH1996PTC100473 |
SHASWATI
CHEMICALS PRIVATE LIMITED |
Director |
15-02-97 |
15-02-97 |
- |
Active |
NO |
|
4 |
U70100MH1996PTC100684 |
PRAGRAJ
REAL-TRADE PRIVATE LIMITED |
Director |
15-02-97 |
15-02-97 |
- |
Active |
NO |
|
5 |
U29224GJ1983PTC006321 |
MAHENDRA
TECHNOCAST PRIVATE LIMITED |
Director |
17-02-97 |
17-02-97 |
07-02-11 |
Strike
off |
NO |
|
6 |
U35900MH1997PTC111875 |
RUSHI
AUTO-INDUSTRIES PRIVATE LIMITED |
Director |
21-11-97 |
21-11-97 |
- |
Amalgamated |
NO |
|
7 |
U24130MH2000PTC129202 |
SHARDA
WHEELS PRIVATE LIMITED |
Director |
01-04-08 |
01-04-08 |
- |
Active |
NO |
|
8 |
U34102MH2003PTC139820 |
RUBY
BUS PRIVATE LIMITED |
Director |
30-09-09 |
01-11-08 |
- |
Active |
NO |
|
9 |
U74999MH2010PTC198536 |
OPTIMIZED
ENGINEERING STRATEGIES PRIVATE LIMITED |
Director |
29-06-10 |
29-06-10 |
- |
Active |
NO |
|
Name : |
Mr. Sanjay Rashiklal Kacheria |
|
Designation : |
Director |
|
Address : |
Smruti, 1st Floor, 18 Bhulabhai Desai Road, Mahalaxmi, Mumbai - 400 026, Maharashtra, India |
|
Date of Birth/Age : |
01.08.1959 |
|
Date of Appointment : |
23.02.1994 |
|
DIN No.: |
00024441 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U28920MH1987PLC043104 |
NEO
WHEELS LIMITED (CN) |
Director |
23-02-94 |
23-02-94 |
Active |
NO |
|
2 |
U24130MH2000PTC129202 |
SHARDA
WHEELS PRIVATE LIMITED |
Director |
01-04-08 |
01-04-08 |
Active |
NO |
|
3 |
U74999MH2010PTC198536 |
OPTIMIZED
ENGINEERING STRATEGIES PRIVATE LIMITED |
Director |
29-06-10 |
29-06-10 |
Active |
NO |
|
Name : |
Mr. Bipin Mavji Sharda |
|
Designation : |
Director |
|
Address : |
C-5, Shreepal Complex, Panchpakhadi, Thane (West), Mumbai -400 602, Maharashtra, India |
|
Date of Birth/Age : |
28.06.1954 |
|
Date of Appointment : |
20.02.2006 |
|
DIN No.: |
00002795 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67120MH1994PTC078203 |
KANDARP
SHARES AND STOCKS PRIVATE LIMITED (CN) |
Director |
05-05-94 |
05-05-94 |
- |
Active |
NO |
|
2 |
U51399MH2001PTC130409 |
SILVER
SHINE IMPEX (INDIA) PRIVATE LIMITED |
Director |
11-01-01 |
11-01-01 |
01-08-08 |
Active |
NO |
|
3 |
U74140MH1998PTC117538 |
MANIBHADRA
MANAGEMENT AND MARKETING SERVICES PRIVATE LIMITED |
Director |
05-01-05 |
05-01-05 |
- |
Active |
NO |
|
4 |
U24130MH2000PTC129202 |
SHARDA
WHEELS PRIVATE LIMITED |
Director |
05-09-05 |
05-09-05 |
- |
Active |
NO |
|
5 |
U28920MH1987PLC043104 |
NEO
WHEELS LIMITED (CN) |
Director |
20-02-06 |
20-02-06 |
- |
Active |
NO |
|
6 |
U45200MH1991PTC061916 |
GAJA
BUILDING MATERIALS PRIVATE LIMITED |
Director |
25-01-07 |
25-01-07 |
- |
Active |
NO |
|
7 |
U51900MH1997PTC105951 |
SHARDA
CONPRO MARKETING PRIVATE LIMITED |
Director |
27-03-07 |
27-03-07 |
01-08-08 |
Active |
NO |
|
8 |
U65990MH1996PTC102944 |
BEES'
CAPITAL ADVISORY PRIVATE LIMITED |
Director |
29-09-08 |
07-12-07 |
- |
Active |
NO |
|
9 |
U74140MH2008PTC178898 |
REALTY
ESTATE MANAGERS AND CONSULTANTS (INDIA) PRIVATE LIMITED |
Director |
14-02-08 |
14-02-08 |
- |
Strike
off |
NO |
|
10 |
U70102MH2009PTC194708 |
MUKAMBIKA
ESTATE PRIVATE LIMITED |
Director |
06-08-09 |
06-08-09 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Rasiklal O Kacheria |
5100 |
|
Madhukanta R. Kacheria |
35050 |
|
Rasiklal O. Kacheria Huf |
22995 |
|
Paresh Kaceria |
75910 |
|
Dipika Paresh Kaceria |
20300 |
|
Paresh Kaceria Huf |
45500 |
|
Satya P. Kacheria |
56550 |
|
Sanjay Rasiklal Kacheria |
447600 |
|
Bela Sanjya Kacheria |
43755 |
|
Sharda Wheels Private Limited, India |
3116640 |
|
Sanjay Rasiklal Kacheria Huf |
26400 |
|
TOTAL
|
3895800 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
80.00 |
|
Directors or relatives of Directors |
20.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aluminum Alloy Wheels |
PRODUCTION STATUS (AS ON : 31.03.2011)
Licensed installed and utilised capacity of Aluminum Wheels
|
Licensed Capacity |
5000 Wheels P.M |
|
Installed Capacity |
5000 Wheels P.M |
|
Actual Production |
106999 Wheels |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
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|
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Bankers : |
|
||||||||||||||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P.M. Dharia and Company Chartered Accountants |
|
Address : |
A-34 Navyug Niwas, 4th Floor, Opposite Minerva Talkies 167, Lamington Road, Mumbai – 400007, Maharashtra, India |
|
Tel. No.: |
91-22-3079327/ 3073481 |
|
Fax No.: |
91-22-3073488 |
|
E-Mail : |
|
|
PAN No.: |
AAAFP1654K |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3895800 |
Equity Shares |
Rs.10/- each |
Rs. 38.958
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 |
38.958 |
38.958 |
38.958 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
107.804 |
92.052 |
78.192 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
146.762 |
131.010 |
117.150 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
109.657 |
91.671 |
57.302 |
|
|
2] Unsecured Loans |
31.694 |
21.369 |
20.557 |
|
|
TOTAL BORROWING |
141.351 |
113.040 |
77.859 |
|
|
DEFERRED TAX LIABILITIES |
1.670 |
1.670 |
1.492 |
|
|
|
|
|
|
|
|
TOTAL |
289.783 |
245.720 |
196.501 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
134.238 |
124.944 |
108.328 |
|
|
Capital work-in-progress |
1.995 |
5.049 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.050 |
0.050 |
0.050 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.056
|
65.347
|
55.761 |
|
|
Sundry Debtors |
68.878
|
50.782
|
32.502 |
|
|
Cash & Bank Balances |
4.119
|
7.875
|
13.023 |
|
|
Other Current Assets |
8.555
|
6.359
|
0.000 |
|
|
Loans & Advances |
23.373
|
14.786
|
12.672 |
|
Total
Current Assets |
175.981
|
145.149 |
113.958 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.066
|
16.956
|
20.236 |
|
|
Other Current Liabilities |
0.990
|
1.251
|
0.227 |
|
|
Provisions |
12.425
|
11.265
|
5.431 |
|
Total
Current Liabilities |
22.481
|
29.472 |
25.894 |
|
|
Net Current Assets |
153.500
|
115.677
|
88.064 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.059 |
|
|
|
|
|
|
|
|
TOTAL |
289.783 |
245.720 |
196.501 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
322.758 |
240.797 |
144.612 |
|
|
|
Other Income |
1.146 |
0.884 |
0.847 |
|
|
|
TOTAL (A) |
323.904 |
241.681 |
145.459 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
94.948 |
63.572 |
|
|
|
|
Purchases of stock-in-trade |
82.374 |
68.395 |
|
|
|
|
Employee benefits expense |
17.510 |
15.118 |
|
|
|
|
Other expenses |
82.439 |
63.061 |
|
|
|
|
Changes in
inventories of finished goods, work-in-progress |
4.362 |
(3.945) |
|
|
|
|
TOTAL (B) |
281.633 |
206.201 |
119.353 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
42.271 |
35.480 |
26.106 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.538 |
12.196 |
11.022 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
27.733 |
23.284 |
15.084 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.480 |
3.147 |
2.946 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
24.253 |
20.137 |
12.138 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.500 |
6.278 |
4.142 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
15.753 |
13.859 |
7.996 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
30.152 |
17.451 |
20.304 |
|
|
TOTAL EARNINGS |
30.152 |
17.451 |
20.304 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.04 |
3.56 |
2.05 |
|
%20-%20223231%2028-May-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.86
|
5.73 |
5.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.51
|
8.36 |
8.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.82
|
7.46 |
5.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.15 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.96
|
0.86 |
0.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.83
|
4.92 |
4.40 |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
|
Unsecured Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
SHORT-TERM BORROWINGS |
|
|
|
(a) Loans and advances from Others |
|
|
|
Astha Fiscal and Trading Private Limited |
0.750 |
5.250 |
|
Sharda Wheels Private Limited |
(0.066) |
1.031 |
|
Bee Credit and Advisory Private Limited |
3.000 |
3.000 |
|
Bipin Mavji Sharda |
2.500 |
0.000 |
|
Mani Bhadra Management Service Private Limited |
6.500 |
6.500 |
|
Citi Bank |
0.000 |
0.351 |
|
Magma Fincop Limited (of the above, Rs.13.000 Millions is guaranteed
by Directors ) |
0.000 |
0.607 |
|
NSIC (of the above, Rs.15.000 Millions is Bank guarantee and Directors
Personal ) |
13.988 |
0.000 |
|
(b) Security Deposits (of the above, Rs. 5.022 Millions is Nil guaranteed by Directors and /
or others This against business) |
5.022 |
4.630 |
|
|
|
|
|
TOTAL |
31.694 |
21.369 |
PERFORMANCE
As regarding performance
of the Company, even though there has been prolonged recessionary condition
during the previous year, the company could achieve its targets of sales and
the turnover has increased by 12% as compared to the immediate preceding year.
FORM 8
|
Corporate
identity number of the company |
U28920MH1987PLC043104 |
|
Name of the
company |
NEO WHEELS
LIMITED (CN) |
|
Address of the
registered office or of the principal place of business in |
R-202, MIDC, Rabale Police Station, P.O. Ghansol, Navi Mumbai -
400701, Maharashtra, India E-mail: sankach@gmail.com |
|
This form is for |
Modification
of charge |
|
Charge identification
number of the charge to be modified |
80037202 |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
The Shamrao
Vithal Co-operative Bank Limited, Jayant Arcade, Rajawdi Naka, Ghatkopar (East),
Mumbai – 400077, Maharashtra, India E-mail: legaldept@svcbank.com
|
|
Nature of
instrument creating charge |
Supplementary
Deed of Hypothecation |
|
Date of
instrument Creating the charge |
27.02.2013 |
|
Amount secured by
the charge |
Rs. 137.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash credit:
@PLR-3.75% p.a., subject to minimum of 13.75% p.a. Buyers Credit:
Rates as stipulated by IBD Letter of credit:
Commission/Rates as stipulated by IBD Terms of repayment As may be decided
by the Bank, from time to time. Margin As may be decided
by the Bank, from time to time. Extent and operation of the charge To secure the due
repayment of the aggregate credit facilities of Rs.137.500 Millions, together
with all interest, costs, charges and expenses thereof, granted by the Bank
to the Company. Other Total Facilities: Cash Credit:
Rs.137.500 Millions Buyers Credit:
(Rs.87.500 Millions) Letter of Credit:
(Rs.87.500 Millions) ------------------------------------------------ Total: Rs.137.500
Millions (Buyers credit
limit and letter of credit limit are sub-limit of the cash credit limit and
total of buyers credit limit and letter of credit limit not to exceed
Rs.87.500 Millions) |
|
Short particulars
of the property charged (Including location of the property) |
The whole of the
Borrower's present and future stocks of raw materials, goods-in-process of
manufacture and all finished and manufactured goods and articles All of the
Borrower's present and future book debts, outstanding monies, receivables,
claims, bills, rights to or in moveable properties and moveable assets Security for
Buyers' Credit and Letter of Credit: Goods imported |
|
Date of
instrument modifying the charge |
20.09.2012 |
|
Particulars of
the present modification |
By this
modification the charge shall hold good to secure total credit facilities
(Cash Credit) of Rs.137.500 Millions. Buyers credit limit and letter of
credit limit are sub-limit of the cash credit limit and total of buyers
credit limit and letter of credit limit not to exceed Rs.87.500 Millions. Hence the overall
charge stands at Rs.137.500 Millions. |
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Office
Equipment
- Furniture and
Fittings
- Vehicles
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. 55.61 |
|
|
1 |
Rs. 84.18 |
|
Euro |
1 |
Rs. 71.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
53 |
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.