MIRA INFORM REPORT
|
Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SNJ DISTILLERS PRIVATE LIMITED |
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Registered
Office : |
Old No.47, New No.99, Canal Bank Road, C.I.T. Nagar, Nandanam,
Chennai-600035, Tamilnadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
17.04.2008 |
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Com. Reg. No.: |
18-067388 |
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Capital
Investment / Paid-up Capital : |
Rs. 7.761 Millions |
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CIN No.: [Company Identification
No.] |
U15530TN2008PTC067388 |
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PAN No.: [Permanent Account No.] |
AALCS9312F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Liquor. |
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No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The
management has fail to file its financial after 2011 with the government
department. As per previous year’s, the performance seem to be good. Trade
relations are reported to be fair. Business is active. Payments are reported
to be unknown. The company can be considered for business dealings with some caution. |
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 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term borrowing: “BB+” |
|
Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
|
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. Paran Jothi |
|
Designation : |
Finance Controller |
|
Contact No.: |
91-44-24320616 |
|
Date : |
30.09.2013 |
LOCATIONS
|
Registered Office : |
Old No.47, New No.99, Canal Bank Road, C.I.T. Nagar, Nandanam,
Chennai-600035, Tamilnadu, India |
|
Tel. No.: |
91-44-24320706 |
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Fax No.: |
91-44-24320616 |
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E-Mail : |
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Website : |
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Factory : |
56/1, Kallapirapurm Village and Post, Madurantagam
Taluk,
Kanchipuram District – 603308, Tamilnadu, India |
|
Tel. No.: |
91-44-27598178 |
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Fax No.: |
91-44-27598111 |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Nagalingam Jayamurugan |
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Designation : |
Director |
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|
Address : |
Old No.40, New No.81 1st Cross Street, C.I.T. Nagar, Nandanam, Chennai – 600035, Tamilnadu, India |
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Date of Birth/Age : |
31.07.1968 |
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Date of Appointment : |
17.04.2008 |
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DIN No.: |
00943034 |
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Other Directorship
:
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Name : |
Mrs. Geetha Jayamurugan |
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Designation : |
Director |
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|
Address : |
Old No.40, New No.81 1st Cross Street, C.I.T. Nagar, Nandanam, Chennai – 600035, Tamilnadu, India |
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Date of Birth/Age : |
07.04.1969 |
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Date of Appointment : |
17.04.2008 |
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DIN No.: |
00900127 |
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Other Directorship
:
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KEY EXECUTIVES
|
Name : |
Mr. Paran Jothi |
|
Designation : |
Finance Controller |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
N. Jayamurugan |
|
388050 |
|
J. Geetha |
|
388050 |
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Total |
|
776100 |
Allottees as on 18.04.2011
|
Names of Allottees |
|
No. of Shares |
|
N. Jayamurugan |
|
236950 |
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J. Geetha |
|
236950 |
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Total |
|
473900 |
As on 29.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Liquor. |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
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Bankers : |
State Bank of India Commercial Branch, No.232 Nsc Bose Road, Chennai - 600001, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tasky Associates Chartered Accountants |
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Address : |
E-1 Lotus Colony, Chamiers Road, Nandanam, Chennai – 600035,
Tamilnadu, India |
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PAN No.: |
AJIPM3298F |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs. 12.500 Millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
15000000 |
Equity Shares |
Rs.10/- each |
Rs. 150.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
776100 |
Equity Shares |
Rs.10/- each |
Rs. 7.761 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.761 |
7.761 |
6.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
366.945 |
139.138 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
374.706 |
146.899 |
6.500 |
|
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
125.161 |
160.890 |
307.495 |
|
|
2] Unsecured Loans |
112.978 |
424.564 |
264.206 |
|
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TOTAL BORROWING |
238.139 |
585.454 |
571.701 |
|
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DEFERRED TAX LIABILITIES |
13.890 |
1.046 |
0.000 |
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|
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|
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TOTAL |
626.735 |
733.399 |
578.201 |
|
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APPLICATION OF FUNDS |
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|
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|
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FIXED ASSETS [Net Block] |
493.038 |
482.621 |
443.730 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
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INVESTMENT |
50.004 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
158.186
|
196.566 |
113.737 |
|
|
Sundry Debtors |
304.197
|
222.932 |
0.000 |
|
|
Cash & Bank Balances |
233.752
|
235.814 |
(45.925) |
|
|
Other Current Assets |
61.603
|
83.725 |
45.672 |
|
|
Loans & Advances |
63.476
|
82.457 |
0.043 |
|
Total
Current Assets |
821.214
|
821.494 |
113.527 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
199.689
|
145.961 |
0.295 |
|
|
Other Current Liabilities |
420.280
|
350.699 |
0.000 |
|
|
Provisions |
124.868
|
88.333 |
0.000 |
|
Total
Current Liabilities |
744.837
|
584.993 |
0.295 |
|
|
Net Current Assets |
76.377
|
236.501 |
113.232 |
|
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MISCELLANEOUS EXPENSES |
7.316 |
14.277 |
21.239 |
|
|
|
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|
|
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TOTAL |
626.735 |
733.399 |
578.201 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
2219.904 |
0.000 |
|
|
|
Other Income |
NA |
43.291 |
0.000 |
|
|
|
TOTAL (A) |
NA |
2263.195 |
0.000 |
|
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|
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|
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Less |
EXPENSES |
|
|
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|
|
|
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|
Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
NA |
1912.981 |
0.000 |
|
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|
|
|
|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
350.214 |
0.000 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
NA |
67.264 |
0.000 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
282.950 |
0.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
62.977 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
NA |
219.973 |
0.000 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
NA |
80.835 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
366.945 |
139.138 |
0.000 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
NA |
139.138 |
0.000 |
|
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
472.81 |
179.28 |
0.000 |
|
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Particulars |
|
31.03.2013 |
31.03.2012 |
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|
Sales Turnover (Approximately) |
|
4130.000 |
4500.000 |
|
|
|
|
|
Expected Sales (2013-2014) : Rs. 4800.000 Millions
The above information has been parted by Mr. Paran Jothi (Finance
Controller)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
6.15 |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
9.91 |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
16.87 |
0.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
1.50 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.64
|
3.99 |
87.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.43 |
384.84 |
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 four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
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 |
10318964 |
31/10/2011 |
9,600,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B25768862 |
|
2 |
10319278 |
31/10/2011 |
9,600,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B25898727 |
|
3 |
10141368 |
13/12/2008 |
130,000,000.00 |
STATE BANK OF TRAVANCORE |
COMMERCIAL BRANCH, NO.556, JEEVAN ANAND, TEYNAMPET, ANNA SALAI, CHENNAI - 600018, TAMIL NADU, INDIA |
A55869622 |
|
4 |
10128738 |
28/02/2013 * |
1,260,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, NO.232 NSC BOSE ROAD, CHENNAI - 600001, TAMIL NADU, INDIA |
B70690300 |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
In Millions) |
|
Loans directors unsecured |
112.978 |
424.564 |
|
Total |
112.978 |
424.564 |
FIXED ASSETS
· Free hold land
· Lease hold land
· Office building
· Factory building
· Other building
· Plant Machinery
· Office equipments
· Computer equipments
· Furniture fixtures
· Motor vehicles
· Patents trademarks design
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.62.78 |
|
|
1 |
Rs.101.42 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Information Gathered
by : |
JML |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
36 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.