MIRA
INFORM REPORT
|
Report Date : |
25.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
TEXPORT INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
TEXPORT GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.88, Road No.15, M.I.D.C., Andheri (East), Mumbai - 400 093, |
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|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
13.12.1979 |
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|
|
|
Com. Reg. No.: |
11-021996 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs. 3.276 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101MH1979PTC021996 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22206C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5016A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject manufactures and exports readymade garments such as shirts, t-shirts, skirts, dresses, jackets, and blazers for men, women and children. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4600000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. Their appears slight dip in the profitability of the company during 2013.
However, reserves of the company is satisfactory. Trade relations are reported to be fair. Business is active. Payments
are reported to be 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.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Fund Based Working Capital Limit: BBB |
|
Rating Explanation |
The moderate credit quality it carry higher than average credit risk. |
|
Date |
September, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
On Fund Based Limits: A3+ |
|
Rating Explanation |
The moderate credit it carry higher credit risk. |
|
Date |
September, 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.
INFORMATION PARTED BY
|
Name : |
Mr. Doshi |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-80-39284500 |
LOCATIONS
|
Registered Office/ Corporate Office/ Factory 1 : |
Plot No.88, Road No.15, M.I.D.C., Andheri (East), Mumbai - 400 093,
Maharashtra, India |
|
Tel. No.: |
91-22-30882000 |
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Fax No.: |
91-22-30882005 |
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E-Mail : |
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|
Website : |
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|
Area : |
2000 sq ft |
|
Location : |
Owned |
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|
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Factory 2: |
56-63, Karibanhalli - 560058, Bangalore, India |
|
|
|
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Branch Office 1 : |
154, 3rd Cross, 5th Main, Yeshwanthpur Industrial Sub., |
|
Tel. No.: |
91-80-39284500 |
|
Fax No.: |
91-80-39284095 |
|
|
|
|
Branch Office 2 : |
11, Sowdambika Nagar, Poolvapatti Post, P N Road, Tirupur – 641 602,
Tamilnadu, India |
|
Tel. No.: |
91-421-2481640 |
|
Fax No.: |
91-421-2471436 |
|
|
|
|
Branch Office 3 : |
31, Karangalpatti, Street No. 4, Gugai, Salem – 636 006, Tamilnadu,
India |
|
Tel. No.: |
91-427-2464548 |
|
Fax No.: |
91-427-2467053 |
|
|
|
|
Overseas Office : |
14th Floor, 264 West, |
|
Tel. No.: |
+1 212 869 8001 |
|
Fax No.: |
+1 212 869 5965 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Narendra Kumar Deviprasad Goenka |
|
Designation : |
Director |
|
Address : |
Shivkunj, Road No.11, J.V.P.D. Scheme, Juhu, Vile Parle (West), Mumbai
– 400 049, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1957 |
|
Date of Appointment : |
25.07.1981 |
|
DIN No.: |
01234889 |
|
|
|
|
Name : |
Mr. Suresh Deviprasad Goenka |
|
Designation : |
Director |
|
Address : |
Shivkunj, 11th Road, J.V.P.D. Scheme, Juhu, Vile Parle
(West), Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1953 |
|
Date of Appointment : |
02.04.1990 |
|
DIN No.: |
01181788 |
|
|
|
|
Name : |
Mr. Arun Kumar Sajjankumar Goenka |
|
Designation : |
Director |
|
Address : |
4th Shivkunj, 11th Road, J.V.P.D. Scheme, Juhu,
Vile Parle (West), Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1967 |
|
Date of Appointment : |
06.03.1996 |
|
DIN No.: |
01230401 |
|
|
|
|
Name : |
Mr. Sekhar Sashi Edayath |
|
Designation : |
Director |
|
Address : |
201, Jyoti Sparkle, Plot No.81, Shere-Punjab Society, Mahakali Caves
Road, Andheri (East), Mumbai – 400 093, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1955 |
|
Date of Appointment : |
18.01.1998 |
|
DIN No.: |
01760123 |
|
|
|
|
Name : |
Mr. Shailesh Sureshkumar Goenka |
|
Designation : |
Director |
|
Address : |
Shivkunj, Road No.11, J.V.P.D. Scheme, Juhu, Vile Parle (West), Mumbai
– 400 049, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1979 |
|
Date of Appointment : |
18.02.2003 |
|
DIN No.: |
01230273 |
|
|
|
|
Name : |
Mr. Sajjankumar Debiprasad Goenka |
|
Designation : |
Director |
|
Address : |
4th Shivkunj, North-South Road No.11, J.V.P.D. Scheme,
Juhu, Vile Parle (West), Mumbai – 400 049, Maharashtra, India |
|
Date of Appointment : |
14.10.2005 |
|
DIN No.: |
01230354 |
|
|
|
|
Name : |
Mr. Neeraj Sajjan Goenka |
|
Designation : |
Director |
|
Address : |
4th Shivkunj, 11th Road, J.V.P.D. Scheme, Juhu,
Vile Parle (West), Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1972 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00745541 |
KEY EXECUTIVES
|
Name : |
Mr. Doshi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Goenka Deviprasad Narendra |
|
2632 |
|
Goenka Sajjan Chandra Kala |
|
2662 |
|
Goenka Narendra Sarita Devi |
|
2986 |
|
Goenka Suresh Sashi Devi |
|
3014 |
|
Goenka Chandi Prasad Radhadevi |
|
850 |
|
Goenka Deviprasad Suresh |
|
2700 |
|
Sajjan Kumar Goenka – HUF |
|
300 |
|
Goenka Sajjan Arun |
|
2885 |
|
Goenka Narendra Sakshi |
|
271 |
|
Goenka Suresh Shailesh |
|
2821 |
|
Goenka Suresh Neeti |
|
326 |
|
Goenka Arun Vinita |
|
2986 |
|
Goenka Narendra Nupur |
|
71 |
|
Goenka Chandi Prasad Sajjan |
|
152 |
|
Goenka Sajjan Neeraj |
|
2000 |
|
Suresh Goenka (HUF) |
|
1 |
|
Goenka Shailesh Nishita |
|
3000 |
|
Goenka Neeraj Sushma |
|
3100 |
|
Total
|
|
32757 |
Equity Share Break up (Percentage of Total Equity)
As on:
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject manufactures and exports readymade garments such as shirts,
t-shirts, skirts, dresses, jackets, and blazers for men, women and children. |
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed Capacity: Not Applicable
Installed Capacity:
In view of the productions
of varied types of garments, as per the specification of individual orders, it
is not possible to quantify the installed capacity. Moreover, the company also
gets its garments manufactured by outside parties on job work basis.
|
Particulars |
Unit |
Actual
Production |
|
Garments |
Nos. |
10924394 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Export-Import Bank of India, 21 Floor, Centre One
Building, World Trade Centre
Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India · Canara Bank Corporation Bank ICICI Bank and Exim Bank, Prime Corporate Branch, Shankar Narayana Building, No.25, M G Road, Bangalore - 560001, Karnataka, India · Induslan Bank Limited, CTS No 32 Acme Plaza Andheri Kurla Road, Andheri East, Mumbai - 400059, Maharashtra, India |
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. Choraria and Mates Chartered Accountants |
|
Address : |
594, 16th Cross, 35th Main, J.P. Nagar, 6th
Phase, Bangalore – 560 078, Karnataka, India |
|
Tel. No.: |
91-80-22440331/ 22459853 |
|
Fax No.: |
91-80-26911458 |
|
E-Mail : |
|
|
PAN No.: |
AAJPC4940N |
|
|
|
|
Wholly Owned Enterprises: |
·
JBC Garments Private Limited, India (CIN No.: U18101MH1995PTC091687)
·
TIPL (Employees Group Gratuity Scheme) ·
Rebound Exports Private Limited, India (CIN No.:
U52322MH1987PTC044533) ·
Dubin Devices Private Limited, India (CIN No.:
U34300KA1995PTC018106) ·
Alphonso Holdings |
|
|
|
|
Enterprises over which key management personnel and their relatives
exercise significant influence with whom transactions have taken place during
the year: |
Private Limited
Companies ·
Texport Garments Private Limited ·
JBC International Private Limited ·
Texport Technologies Private Limited ·
DG Goenka Equities Private Limited Partnership
Firms ·
Frisco International ·
Texport Garments Trusts ·
Shivdevi Goenka Foundation ·
Goenka Charitable Trust ·
Shree Goenka Kalyan Trust |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
|
50000 |
Preference Shares |
Rs.100/- each |
Rs. 5.000 millions |
|
|
Total |
|
Rs.15.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32757 |
Equity Shares |
Rs.100/-
each |
Rs.3.276
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3.276 |
3.276 |
|
(b) Reserves & Surplus |
|
1169.598 |
1065.120 |
|
(c) Money received
against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
1172.874 |
1068.396 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
|
212.562 |
237.917 |
|
(b) Deferred tax liabilities (Net) |
|
21.872 |
23.780 |
|
(c) Other long
term liabilities |
|
9.451 |
10.100 |
|
(d) long-term
provisions |
|
29.346 |
26.129 |
|
Total Non-current
Liabilities (3) |
|
273.231 |
297.926 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1285.972 |
1004.007 |
|
(b)
Trade payables |
|
187.394 |
193.948 |
|
(c)
Other current liabilities |
|
221.956 |
189.793 |
|
(d) Short-term
provisions |
|
178.373 |
124.482 |
|
Total Current
Liabilities (4) |
|
1873.695 |
1512.230 |
|
|
|
|
|
|
TOTAL |
|
3319.800 |
2878.552 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
625.199 |
635.796 |
|
(ii)
Intangible Assets |
|
5.081 |
1.217 |
|
(iii)
Capital work-in-progress |
|
25.206 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
14.841 |
14.841 |
|
(c) Deferred tax
assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
112.321 |
138.983 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
782.648 |
790.837 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
314.042 |
399.896 |
|
(b)
Inventories |
|
544.154 |
515.889 |
|
(c)
Trade receivables |
|
1055.338 |
802.294 |
|
(d) Cash
and cash equivalents |
|
83.290 |
71.507 |
|
(e)
Short-term loans and advances |
|
535.618 |
293.664 |
|
(f)
Other current assets |
|
4.710 |
4.465 |
|
Total
Current Assets |
|
2537.152 |
2087.715 |
|
|
|
|
|
|
TOTAL |
|
3319.800 |
2878.552 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.836 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
627.455 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
633.291 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1275.816 |
|
|
2] Unsecured Loans |
|
|
47.543 |
|
|
TOTAL BORROWING |
|
|
1323.359 |
|
|
DEFERRED TAX LIABILITIES |
|
|
37.725 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1994.375 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
670.866 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
17.774 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
560.888 |
|
|
Sundry Debtors |
|
|
821.067 |
|
|
Cash & Bank Balances |
|
|
73.774 |
|
|
Other Current Assets |
|
|
121.235 |
|
|
Loans & Advances |
|
|
190.383 |
|
Total
Current Assets |
|
|
1767.347 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
216.799 |
|
|
Other Current Liabilities |
|
|
173.296 |
|
|
Provisions |
|
|
71.517 |
|
Total
Current Liabilities |
|
|
461.612 |
|
|
Net Current Assets |
|
|
1305.735 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1994.375 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4132.479 |
3987.867 |
3578.114 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3979.251 |
3833.586 |
3454.730 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
153.228 |
154.281 |
123.384 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
52.160 |
41.935 |
29.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
101.068 |
112.346 |
93.975 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
3748.500 |
3666.428 |
3144.061 |
|
|
|
Others |
0.00 |
0.000 |
0.680 |
|
|
TOTAL EARNINGS |
3748.500 |
3666.428 |
3144.741 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
401.657 |
|
|
|
Stores & Spares |
NA |
NA |
150.158 |
|
|
|
Capital Goods |
NA |
NA |
3.765 |
|
|
|
Others |
NA |
NA |
0.000 |
|
|
TOTAL IMPORTS |
NA |
NA |
555.580 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
3085.39 |
3429.68 |
1610.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.45 |
2.81 |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.67 |
5.39 |
5.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.15 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.28 |
1.16 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.39 |
3.82 |
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 |
Yes |
|
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 |
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) |
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advance from related parties |
48.543 |
90.886 |
|
|
|
|
|
Short term
borrowings |
|
|
|
Loans and advance from related parties |
48.543 |
90.886 |
|
|
|
|
|
Total |
97.086 |
181.772 |
Note:
The registered office of the company has been shifted from Laxmi Woollen Mills, Dr. E. Moses Road, Mahalaxmi, Mumbai - 400 011, Maharashtra
to the present address w.e.f. 01.01.2008.
OPERATIONS:
During the year, the Company has earned a profit after tax of Rs. 101.068 millions compared to the profit of Rs. 112.346 millions earned during the previous year. The company has earned Rs. 4091.598 millions as operation revenue out of which Rs. 3741.013 millions was from export sales and Rs. 72530417/- was from domestic sales. Other Income was amounted to Rs. 40.880 millions. The total expenditure during the year was amounted to Rs. 3979.250 millions.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10308421 |
20/11/2012 * |
100,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
21 FLOOR, CENTRE ONE BUILDING, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA – 400005, INDIA |
B66001827 |
|
2 |
10117693 |
18/08/2008 |
112,500,000.00 |
EXPORT-IMPORT BANK OF INDIA |
21 FLOOR, CENTRE ONE BUILDING, WORLD TRADE CENTRE COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400 |
A43618404 |
|
3 |
10053028 |
22/05/2007 |
10,000,000.00 |
CANARA BANK |
FORT MARKET BRANCH, PADHYAN HOUSE, 309 FRERE ROAD, FORT MARKET., MUMBAI, MAHARASHTRA - 400038, INDIA |
A15600778 |
|
4 |
10051932 |
30/04/2007 |
23,000,000.00 |
CANARA BANK |
FORT MARKET BRANCH, PADHYAN HOUSE, 309 FRERE ROAD, FORT MARKET., MUMBAI, MAHARASHTRA - 400038, INDIA |
A15278757 |
|
5 |
10052887 |
30/04/2007 |
185,500,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, INDIAN EXPRESS BLDG., |
A15795735 |
* Date of charge modification
FIXED ASSETS:
·
Land and Building
·
Building
·
Plant and Machinery
·
Motor Car
·
Furniture and Fixture
·
Office Equipment
·
Electrical Installation
·
Generator
·
Software
·
Laundry
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 records 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. 63.02 |
|
|
1 |
Rs. 102.04 |
|
Euro |
1 |
Rs. 84.91 |
INFORMATION DETAILS
|
Report Prepared by
: |
DPH |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.