|
Report Date : |
15.11.2013 |
zIDENTIFICATION DETAILS
|
Name : |
LONA INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
Gharkul, Plot No. 82, Dr. M.B. Raut Marg, Shivaji Park, Dadar (West),
Mumbai-400028, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.11.1962 |
|
|
|
|
Com. Reg. No.: |
11–012526 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.76.189
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1962PLC012526 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUML04687E / MUML05181B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL1166F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing
of Pigments and Synthetic Dyes. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2054000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record.
There appears dip in the sales turnover and net profitability of the company
during 2013. However, financial position appears to be decent. Trade relations are
reported as fair. Business is active. Payment terms are usually correct 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.
INDIAN ECONOMIC OVERVIEW
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic
product. High imports of gold and oil led to a worsening of the trade deficit,
resulting in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9
billion in the corresponding quarter of the previous financial year. The
government aims to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from
4.8 % or $ 88.2 billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new government
will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT or
tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB+ [Long Term Fund Based Bank Facilities Term Loan] |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
April 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A3+ [Short Term Fund / Non Fund Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
|
Date |
April 2013 |
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. Vijay |
|
Designation : |
Senior Manager |
|
Contact No.: |
91-9833198361 |
|
Date : |
13.11.2013 |
LOCATIONS
|
Registered / Corporate Office : |
Gharkul, Plot No. 82, Dr. M.B. Raut Marg, Shivaji Park, Dadar (West),
Mumbai-400028, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
Ladivali, New Rasayani, Taluka: Panvel, District Raigad - 410 207,
Maharashtra, India |
|
Tel. No.: |
91-22- 24473738/ 24473739/ 24473740 |
|
Fax No.: |
91-22- 24473745 |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Sanjay Ramhari Dhote |
|
Designation : |
Managing director |
|
Address : |
51, Khatau Apartments,
243, Walkeshwar Road, Mumbai - 400006, Maharashtra, India |
|
Date of Birth/Age : |
09.07.1960 |
|
Qualification : |
B Sc. MBA (USA) |
|
Date of Appointment : |
01.04.1994 |
|
PAN No.: |
AAAPD4581H |
|
DIN No.: |
00548542 |
|
|
|
|
Name : |
Mr. Jayant Ramhari Dhote |
|
Designation : |
Director |
|
Address : |
11, A/B, Hilltop
Apartments, 49, Pali Hill, Bandra, Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
13.08.1954 |
|
Qualification : |
BSIE (USA) |
|
Date of Appointment : |
09.08.1978 |
|
PAN No.: |
AAAPD4580G |
|
DIN No.: |
00548607 |
|
|
|
|
Name : |
Mr. Govind Guno Desai |
|
Designation : |
Director |
|
Address : |
Kedar Apartment,
Bhandar Lane, L.J. Road, Mahim, Mumbai - 400015, Maharashtra, India |
|
Date of Birth/Age : |
14.06.1933 |
|
Date of Appointment : |
30.09.2005 |
|
DIN No.: |
00140853 |
|
|
|
|
Name : |
Mr. Premanand Anandrao Narvekar |
|
Designation : |
Director |
|
Address : |
396/8, North
Avenue, Santacruz (West), Mumbai - 400054, Maharashtra, India |
|
Date of Birth/Age : |
17.06.1975 |
|
Date of Appointment : |
21.08.1991 |
|
DIN No.: |
00387203 |
|
|
|
|
Name : |
Mrs. Saroj Yeshwant Kale |
|
Designation : |
Director |
|
Address : |
B/1, Asavari, 214,
Veer Savarkar Marg, Mahim (West), Mumbai - 400016, Maharashtra, India |
|
Date of Birth/Age : |
15.09.1944 |
|
Qualification : |
MBBS |
|
Date of Appointment : |
15.07.1974 |
|
PAN No.: |
AACPK4375Q |
|
DIN No.: |
00548744 |
|
|
|
|
Name : |
Akita Hidemasa |
|
Designation : |
Director |
|
Address : |
9, Chome, 25-24,
Asumigaoka, Midori Ku, Chiba Shi Chiba, Prefecture, Chiba Shi, NA, Japan |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
05283042 |
|
|
|
|
Name : |
Ms. Mangala Chavan |
|
Designation : |
Director |
|
Address : |
15/16, Shireesh
CHS, 187, Veer Savarkar Marg, Mahim, Mumbai-400016, Maharashtra, India |
|
Date of Appointment : |
21.06.2012 |
|
DIN No.: |
05284372 |
|
|
|
|
Name : |
Ken Saburo Okura |
|
Designation : |
Director |
|
Address : |
2-23-11,
Denenchofu, Otaku, Tokyo, 1038383, Japan |
|
Date of Birth/Age : |
04.06.1936 |
|
Date of Appointment : |
17.06.1996 |
|
DIN No.: |
02666435 |
|
|
|
|
Name : |
Mr. Rajan Dattaraya Mahajan |
|
Designation : |
Additional Director |
|
Address : |
A-8, ASAVARI MARG, 214, V.S. Marg, Mahim, Mumbai-400018, Maharashtra, India |
|
Date of Birth/Age : |
24.09.1957 |
|
Date of Appointment : |
08.03.2013 |
|
DIN No.: |
00003376 |
|
|
|
|
Name : |
Mr. Ravindra Madhusudan Dhamankar |
|
Designation : |
Additional Director |
|
Address : |
B-6, Asavari, 214 Veer Savarkar Marg, Mahim, Mumbai-400016,
Maharashtra, India |
|
Date of Birth/Age : |
15.01.1973 |
|
Date of Appointment : |
08.03.2013 |
|
DIN No.: |
00845471 |
KEY EXECUTIVES
|
Name : |
Mr. Vijay |
|
Designation : |
Senior Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
R K Shote Big HUF |
|
127167 |
|
Jayant R Dhole |
|
513450 |
|
Geeta J Dhote |
|
283733 |
|
Aditya J Dhote |
|
233333 |
|
Rohan R Dhote |
|
233333 |
|
Sanchit J Dhote |
|
233333 |
|
Radhika J Dhote |
|
233333 |
|
Allona Investment Private Limited, India |
|
1491001 |
|
Jayant R Dhote (HUF) |
|
217933 |
|
Sanjay R Dhote |
|
618450 |
|
Vaishali S Dhote |
|
280000 |
|
Rohit R Dhote |
|
711667 |
|
Saroj Y Kale |
|
41160 |
|
J and S Investments Private Limited, India |
|
1480174 |
|
Sanjay R Dhote - HUF |
|
299600 |
|
Ravindra M. Dhamankar Jointly with Kumudhini Dhamankar |
|
2333 |
|
Dainichiseika Colour and Chemicals Manufacturing Company Limited,
Japan |
|
618925 |
|
|
|
|
|
TOTAL
|
|
7618925 |
AS ON 30.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
8.12 |
|
Bodies
corporate |
|
39.00 |
|
Directors
or relatives of directors |
|
52.85 |
|
Other
|
|
0.03 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
of Pigments and Synthetic Dyes. |
||||||
|
|
|
||||||
|
Products : |
|
||||||
|
|
|
||||||
|
Exports : |
|
||||||
|
Products : |
Finished Goods |
||||||
|
Countries : |
|
||||||
|
|
|
||||||
|
Imports : |
|
||||||
|
Products : |
Raw Materials |
||||||
|
Countries : |
|
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
The Cosmos Co-operative Bank Limited, Dadar Branch, 36A, Maru Niketan,
D L Vaidya Road, Dadar (West), Mumbai-400028, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. K. Khare and Company Chartered Accountants |
|
Address : |
706-708, Sharda Chambers,
New Marine Line, Mumbai – 400020, Maharashtra, India |
|
Tel. No.: |
91-22-22000607 / 7318 /6360 / 66315835 / 36 |
|
Fax No.: |
91-22-22003476 |
|
E-Mail : |
|
|
PAN No: |
AAAFB0265E |
|
|
|
|
Other Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7618925 |
Equity Shares |
Rs.10/- each
|
Rs.76.189
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
76.189 |
76.189 |
76.189 |
|
(b) Reserves & Surplus |
437.483 |
353.557 |
258.477 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
513.672 |
429.746 |
334.666 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
26.222 |
60.775 |
73.324 |
|
(b) Deferred tax
liabilities (Net) |
28.344 |
25.957 |
19.435 |
|
(c)
Other long term liabilities |
1.134 |
1.200 |
0.000 |
|
(d)
long-term provisions |
8.477 |
8.272 |
5.689 |
|
Total
Non-current Liabilities (3) |
64.177 |
96.204 |
98.448 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
213.483 |
224.550 |
238.167 |
|
(b)
Trade payables |
412.388 |
363.706 |
311.064 |
|
(c)
Other current liabilities |
63.313 |
77.102 |
63.761 |
|
(d)
Short-term provisions |
1.728 |
17.225 |
25.584 |
|
Total
Current Liabilities (4) |
690.912 |
682.583 |
638.576 |
|
|
|
|
|
|
TOTAL |
1268.761 |
1208.533 |
1071.690 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
279.738 |
281.361 |
218.329 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
24.327 |
0.123 |
19.304 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
0.142 |
0.418 |
0.417 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
28.725 |
25.909 |
13.941 |
|
(e)
Other Non-current assets |
8.000 |
4.277 |
0.025 |
|
Total
Non-Current Assets |
340.932 |
312.088 |
252.016 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
262.776 |
274.017 |
223.647 |
|
(c)
Trade receivables |
534.768 |
491.900 |
480.225 |
|
(d)
Cash and cash equivalents |
23.581 |
22.080 |
20.989 |
|
(e)
Short-term loans and advances |
100.994 |
105.895 |
91.541 |
|
(f)
Other current assets |
5.710 |
2.553 |
3.272 |
|
Total
Current Assets |
927.829 |
896.445 |
819.674 |
|
|
|
|
|
|
TOTAL |
1268.761 |
1208.533 |
1071.690 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2369.570 |
2381.274 |
1974.133 |
|
|
|
Other Income |
11.077 |
3.235 |
7.614 |
|
|
|
TOTAL (A) |
2380.647 |
2384.509 |
1981.747 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1542.570 |
1663.497 |
1325.839 |
|
|
|
Employee benefit expense |
105.765 |
99.241 |
86.983 |
|
|
|
Other expenses |
483.249 |
446.882 |
383.803 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
54.536 |
(70.521) |
(26.067) |
|
|
|
TOTAL (B) |
2186.120 |
2139.099 |
1770.558 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
194.527 |
245.410 |
211.189 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
37.254 |
48.475 |
31.847 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
157.273 |
196.935 |
179.342 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
31.716 |
29.543 |
24.455 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
125.557 |
167.392 |
154.887 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
41.632 |
59.030 |
57.623 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
83.925 |
108.362 |
97.264 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
8.400 |
50.000 |
50.000 |
|
|
|
Tax on Dividend |
0.000 |
1.900 |
1.942 |
|
|
|
Proposed Dividend |
0.000 |
11.400 |
11.428 |
|
|
BALANCE CARRIED
TO THE B/S |
75.525 |
45.062 |
33.894 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1791.022 |
1836.992 |
1493.175 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
824.947 |
609.828 |
493.988 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
11.01 |
14.22 |
12.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.53
|
4.54 |
4.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.30
|
7.03 |
7.85 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.09
|
13.85 |
14.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.39 |
0.46 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.47
|
0.66 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34
|
1.31 |
1.95 |
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 |
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 |
No |
|
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 |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10384491 |
12/10/2012 |
900,000.00 |
THE COSMOS CO-OP
BANK LIMITED |
DADAR BRANCH ,36A,
MARU NIKETAN, D L VAIDYA ROAD |
B61382024 |
|
2 |
10371240 |
04/08/2012 |
1,300,000.00 |
THE COSMOS CO-OP
BANK LIMITED |
DADAR BRANCH
,36A, MARU NIKETAN, D L VAIDYA ROAD |
B55914733 |
|
3 |
10303958 |
14/07/2011 |
2,150,000.00 |
THE COSMOS CO-OP BANK LIMITED |
DADAR BRANCH
,36A, MARU NIKETAN, D L VAIDYA ROAD |
B19517549 |
|
4 |
10198255 |
07/01/2010 |
1,000,000.00 |
THE COSMOS CO-OP BANK LIMITED |
DADAR BRANCH
,36A, MARU NIKETAN, D L VAIDYA ROAD |
A77941631 |
|
5 |
10168779 |
14/03/2013 * |
420,200,000.00 |
PUNJAB NATIONAL BANK |
BRADY HOUSE, MID
CAPITAL BRANCH, V N ROAD, FORT, |
B74766247 |
|
6 |
10118987 |
20/08/2008 |
50,000,000.00 |
THE COSMOS CO-OP BANK LIMITED |
DADAR BRANCH
,36A, MARU NIKETAN, D L VAIDYA ROAD |
A43878966 |
|
7 |
10117913 |
18/03/2013 * |
103,000,000.00 |
THE COSMOS CO-OP BANK LIMITED |
DADAR BRANCH
,36A, MARU NIKETAN, D L VAIDYA ROAD |
B71829345 |
|
8 |
10117912 |
12/08/2008 |
52,000,000.00 |
THE COSMOS CO-OP BANK LIMITED |
DADAR BRANCH
,36A, MARU NIKETAN, D L VAIDYA ROAD |
A43878875 |
|
* Date of charge
modification |
||||||
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Public Deposit |
5.848 |
24.113 |
|
Deposit From Others |
0.000 |
0.850 |
|
TOTAL
|
5.848 |
24.963 |
FIXED ASSETS:
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.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
5 |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.