MIRA
INFORM REPORT
|
Report Date : |
29.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEON LABORATORIES LIMITED |
|
|
|
|
Formerly Known
As : |
NEON LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
140, Damji Shamji Industrial Complex, Mahakali Caves Road, Andheri,
Mumbai - 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.06.1982 |
|
|
|
|
Com. Reg. No.: |
11-027493 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.15.300
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24100MH1982PLC027493 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN11047B / MUMN10021E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN1299D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pharmaceuticals. |
|
|
|
|
No. of Employees
: |
Information
declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 8839000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability
of the company appears to be decent. General financial position of the
company seems to be sound and healthy. Trade relations are reported as fair. Business is active. Payments
terms are usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CRISIL |
|
Rating |
BB+ [Long Term] |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
28.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ [Short Term] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
28.12.2012 |
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 DECLINED BY
|
Name : |
Mr. Rakesh Parmar |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-26875366/72 |
|
Date : |
27.11.2013 |
LOCATIONS
|
Registered Office/ Corporate
Office : |
140, Damji Shamji Industrial Complex, Mahakali Caves Road, Andheri,
Mumbai - 400093, Maharashtra, India |
|
Tel. No.: |
91-22-26875366 - 72/ 30077000 |
|
Fax No.: |
91-22-26873502 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Uttam Keshrimal Jain |
|
Designation : |
Director |
|
Address : |
2005 Kent Gardens TPS III, Factory Lane, Borivali (West), Mumbai -
400092, Maharashtra, India |
|
Date of Birth/Age : |
05.02.1954 |
|
Date of Appointment : |
22.06.1982 |
|
Voter ID No.: |
MT090450690238 |
|
DIN No.: |
00205866 |
|
|
|
|
Name : |
Mr. Pravin Keshrimal Jain |
|
Designation : |
Director |
|
Address : |
201- 201A Tulsi Tower Co-operative Housing Society, TPS III, Borivali (West),
Mumbai- 400092, Maharashtra, India |
|
Date of Birth/Age : |
18.03.1964 |
|
Date of Appointment : |
06.02.1996 |
|
Voter ID No.: |
MT09045171257 |
|
DIN No.: |
00205927 |
|
|
|
|
Name : |
Mr. Abhay Uttam Jain |
|
Designation : |
Additional Director |
|
Address : |
2005 |
|
Date of Birth/Age : |
17.04.1984 |
|
Date of Appointment : |
05.02.2007 |
|
DIN No.: |
01304069 |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Parmar |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Babulal Keshrimal Jain |
|
43604 |
|
Uttam Keshrimal Jain |
|
36263 |
|
Ashok Keshrimal Jain |
|
99050 |
|
Pravin Keshrimal Jain |
|
40632 |
|
|
|
113287 |
|
Kamla B. Jain |
|
129297 |
|
Meena A. Jain |
|
121917 |
|
Moham B. Jain |
|
39044 |
|
Manohar D. Sirsankar |
|
1333 |
|
Manish B. Jain |
|
8820 |
|
Uttam Keshrimal Jain (HUF) |
|
104850 |
|
Babula Keshrimal Jain (HUF) |
|
25713 |
|
Pravin Jain – Hira and Company, |
|
67 |
|
Ashok Keshrimal Jain (HUF) |
|
64400 |
|
Bharti P. Jain |
|
161333 |
|
Rohan A. Jain |
|
56802 |
|
|
|
128743 |
|
Rahul A. Jain |
|
86101 |
|
Prachi P. Jain |
|
92270 |
|
Manish B. Jain (HUF) |
|
5867 |
|
Pravin Keshrimal Jain (HUF) |
|
33090 |
|
Sangeeta M. Jain |
|
111757 |
|
Aarya M. Jain |
|
100 |
|
Misal P. Jain |
|
100 |
|
Niyati P. Jain |
|
1450 |
|
Mohan B. Jain (HUF) |
|
24110 |
|
|
|
|
|
TOTAL
|
|
1530000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.91 |
|
Other
top fifty shareholders |
|
0.09 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pharmaceuticals. |
||||||||||
|
|
|
||||||||||
|
Products : |
· Anaesthetics and Allied Products · Antineoplast Product · Corticosteroids and Hormons Products · Antibacterials Products · Antitubercular Product · Gynaecological Products · Analgesic and Antipyratic Product · Cardiovascular Products · Vitamin, Haematinic and Mineral Preparations · Antihistamine, Cough and Cold Preparation · Other Specialities ·
Vetrinary Products |
PRODUCTION STATUS [AS ON 31.03.2013]
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Injections |
Units in Lacs |
4714.78 |
1223.07 * |
GENERAL INFORMATION
|
No. of Employees : |
Information
declined by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, IFB, Natraj Building, 102, 1st Floor, 194, Sir M V Road Western Express Highway, Andheri (East), Mumbai - 400021, Maharashtra, India · Development Credit Bank Limited, 601 and 602, Peninsula Business Park, 6th floor, Tower A, Senapati Bapat Marg, Lower Parel, Mumbai - 400013, Maharashtra, India · State Bank of India, Industrial Finance Branch, Snehal Chambers, Telli Gally, Andheri (East), Mumbai - 400069, Maharashtra, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nikhil Gandhi and Company Chartered Accountants |
|
Address : |
303/304, Vyom Arcade, Tejpal Scheme Road No. 5, Opposite GYS Infinity,
Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Tel. No.: |
91-22-66981760 / 26205279 |
|
Fax No.: |
91-22-66981760 |
|
PAN No: |
AABPG4149D |
|
|
|
|
Subsidiaries : |
·
VHB Medi Sciences Limited [U24232MH2007PLC174054] ·
VHB Life Sciences Limited [U74900MH2007PLC171648] ·
Korten Pharmaceuticals Private Limited (w.e.f
01/11/2012) |
|
|
|
|
Other Related Parties : |
·
Metrex Pharmaceuticals Private Limited
[U24230MH2004PTC147834] ·
Uttaranchal Biotech Limited
[U24233DL2005PLC140455] ·
VHB Pharmaceuticals Private Limited ·
Sienna Formulations Private Limited ·
Riddhi Pharmaceuticals Limited ·
Neon Exports ·
Hira and Company ·
Axiom Pharmaceuticals |
CAPITAL STRUCTURE
AS ON 31.03.2013
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 |
|
1530000 |
Equity Shares |
Rs.10/- each
|
Rs.15.300
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 |
15.300 |
15.300 |
15.300 |
|
(b) Reserves & Surplus |
2194.640 |
1834.945 |
1430.091 |
|
(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) |
2209.940 |
1850.245 |
1445.391 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
544.810 |
544.679 |
465.615 |
|
(b) Deferred tax liabilities (Net) |
69.117 |
59.640 |
53.138 |
|
(c) Other long
term liabilities |
2.913 |
2.913 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
616.840 |
607.232 |
518.753 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
793.866 |
624.624 |
194.632 |
|
(b)
Trade payables |
403.328 |
359.195 |
271.485 |
|
(c)
Other current liabilities |
138.225 |
135.966 |
115.257 |
|
(d) Short-term
provisions |
607.327 |
541.000 |
332.601 |
|
Total Current
Liabilities (4) |
1942.746 |
1660.785 |
913.975 |
|
|
|
|
|
|
TOTAL |
4769.526 |
4118.262 |
2878.119 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
731.883 |
710.014 |
576.476 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
2.887 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
642.053 |
330.901 |
303.891 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1612.161 |
1462.882 |
297.308 |
|
(e) Other
Non-current assets |
2.034 |
1.086 |
0.406 |
|
Total Non-Current
Assets |
2988.131 |
2507.770 |
1178.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
507.903 |
355.521 |
166.993 |
|
(c)
Trade receivables |
597.864 |
587.338 |
443.745 |
|
(d) Cash
and cash equivalents |
24.775 |
15.830 |
18.964 |
|
(e) Short-term
loans and advances |
649.112 |
648.877 |
1069.971 |
|
(f)
Other current assets |
1.741 |
2.926 |
0.365 |
|
Total
Current Assets |
1781.395 |
1610.492 |
1700.038 |
|
|
|
|
|
|
TOTAL |
4769.526 |
4118.262 |
2878.119 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2971.518 |
2306.185 |
2040.772 |
|
|
|
Other Income |
28.742 |
142.258 |
54.398 |
|
|
|
TOTAL (A) |
3000.260 |
2448.443 |
2095.170 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
814.683 |
646.171 |
|
|
|
|
Purchases of stock-in-trade |
314.394 |
97.523 |
|
|
|
|
Employee benefit expense |
368.424 |
280.063 |
1418.433 |
|
|
|
Other expenses |
866.880 |
740.346 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(123.392) |
(106.773) |
|
|
|
|
TOTAL (B) |
2240.989 |
1657.330 |
1418.433 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
759.271 |
791.113 |
676.737 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
155.917 |
129.177 |
30.237 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
603.354 |
661.936 |
646.500 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
36.595 |
38.412 |
28.296 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
566.759 |
623.524 |
618.204 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
204.479 |
216.501 |
212.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
362.280 |
407.023 |
405.819 |
|
|
|
|
|
|
|
|
|
Add/ Less |
INCOME
TAX FOR EARLIER YEARS |
0.985 |
0.569 |
0.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Final Dividend |
1.377 |
1.377 |
2.754 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
2.754 |
|
|
|
Tax on Dividend |
0.223 |
0.223 |
0.904 |
|
|
|
Transferred to General Reserve |
9.000 |
9.000 |
45.000 |
|
|
BALANCE CARRIED
TO THE B/S |
350.695 |
395.854 |
354.407 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
233.273 |
150.787 |
95.617 |
|
|
TOTAL EARNINGS |
233.273 |
150.787 |
95.617 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
288.268 |
161.647 |
178.134 |
|
|
|
Capital Goods |
0.988 |
25.369 |
18.354 |
|
|
TOTAL IMPORTS |
289.256 |
187.016 |
196.488 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
236.78 |
266.03 |
207.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
12.07
|
16.62 |
19.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
19.07
|
27.04 |
30.29
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.73
|
16.47 |
24.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.34 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.61
|
0.63 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.92
|
0.97 |
1.86 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT: NOT AVAILABLE
|
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 |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
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 |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
|
34] |
External Agency Rating, if available |
Yes |
|
CASE DETAILS BENCH: BOMBAY
|
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10434943 |
10/06/2013 |
984,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ BUILDING,
102, 1ST FLOOR, 194, SIR M |
B78789799 |
|
2 |
10410683 |
22/02/2013 |
1,125,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ BUILDING, 102, 1ST FLOOR, 194, SIR M |
B70236120 |
|
3 |
10411583 |
22/02/2013 |
1,275,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ BUILDING, 102, 1ST FLOOR, 194, SIR M |
B70702733 |
|
4 |
10397787 |
19/12/2012 |
565,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ BUILDING, 102, 1ST FLOOR, 194, SIR M |
B66166422 |
|
5 |
10397788 |
19/12/2012 |
610,000.00 |
STATE BANK OF
INDIA |
IFB, NATRAJ
BUILDING, 102, 1ST FLOOR, 194, SIR M |
B66166521 |
|
6 |
10362097 |
31/05/2012 |
25,000,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
601 & 602,
PENINSULA BUSINESS PARK, 6TH FLOOR, TOWER A, SENAPATI BAPAT MARG, LOWER
PAREL, MUMBAI - 400013, |
B42218974 |
|
7 |
10315711 |
21/10/2011 |
58,500,000.00 |
DEVELOPMENT
CREDIT BANK LIMITED |
301, DELTA
PLAZA, 414, VEER SAVARKAR MARG, PRABHA |
B24571556 |
|
8 |
90189182 |
02/03/2002 |
23,400,000.00 |
SICOM LIMITED |
NIRMAL IST FLOOR
; NARIAMN POINT, BOMBAY - 400021, MAHARASHTRA, INDIA |
- |
|
9 |
90188700 |
16/04/2013 * |
1,417,700,000.00 |
State Bank of
India |
IFB, NATRAJ
BUILDING, 102, 1ST FLOOR, 194,, SIR M |
B73690265 |
|
10 |
90186062 |
31/03/1994 |
3,500,000.00 |
MAHARASHTRA
STATE FINANCIAL CORPROATION |
NEW EXCELSIOR
BUILDING;5TH ;7TH ;9TH FLOORS, AMR |
- |
|
* 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 |
|
|
|
Deferred sales tax loan |
59.931 |
59.931 |
|
Deposits from others |
159.891 |
133.824 |
|
|
219.822 |
193.755 |
|
Short Term
Borrowings |
|
|
|
Loans repayable on demand |
137.537 |
95.666 |
|
TOTAL
|
357.359 |
289.421 |
OPERATIONS AND
OUTLOOK:
The company's
Sales Turnover during the year has registered a growth of about 28% among stiff
competition over previous Financial Year. That is Sales Turnover for F.Y.12-13 stands
increased to Rs.2971.500 Millions that from Rs.2306.200 Millions of F.Y.
2011-12 and profit before tax stood at Rs.566.800 Millions during the year.
FIXED ASSETS:
·
·
·
Residential Flat
·
·
·
·
Furniture and Fixture
·
Plant and Machinery
·
Material Handling and
Laboratory Equipment’s
·
Temperature Control
Equipment
·
Boiler
·
Office Equipment
·
Electrical Installation
·
Blocks and Dyes
·
Computer
·
Vehicles
·
Commercial Vehicle
·
Energy Saving Device
·
Shops
·
Water Purifying System
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.62.39 |
|
|
1 |
Rs.101.80 |
|
Euro |
1 |
Rs.84.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.