MIRA INFORM REPORT
|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
UMA CONVERTER PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A/36, 4th Floor, Circle – B, Judges Bunglow Road,
Sarkhej-Highway, Bodakdev, Gandhinagar, Ahmedabad – 380015, Gujarat |
|
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|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
18.06.1999 |
|
|
|
|
Com. Reg. No.: |
04-036163 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U55200GJ1999PTC036163 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Selling of Flexible Packaging Material. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 498000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track. There appear
huge external borrowings recorded by the company which seems to be increasing
over years. However, trade relations
are reported as fair. Business is active. Payments are reported to be slow
but correct. The company can be considered for business dealings with some
cautions. |
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
We are living in a
world where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another megatrend
happening. The World order is changing as economic power shifts from West to
East. According to McKinsey study, it took Britain more than 100 years to
double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial
years of the contagion but finally lost ground last year. GDP growth slowed
down. Currency has been weakening. There is a marked deceleration in
agriculture, industry and services. Dampening sentiment led to a cut-back in
investment as well as private consumption expenditure. Inflation remained
at high levels fuelled by the pressure from the food and fuel sectors. The
large fiscal and current account deficit s continued to cause grave concern. It
is imperative that India regains its growth trajectory of 8-9 % sooner than
later. This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Cash Credit : BB- (Suspended) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
June 5, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Letter of credit : A4+ (Suspended) |
|
Rating Explanation |
Minimal degree it carry high credit risk. |
|
Date |
June 5, 2013 |
Note: Reason for suspended is not available.
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 DENIED BY
|
Name : |
Mr. Ashish B |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9327103652/ 9377103584 |
|
Date : |
04.10.2013 |
LOCATIONS
|
Registered / Head Office : |
A/36, 4th Floor, Circle – B, Judges Bunglow Road,
Sarkhej-Highway, Bodakdev, Gandhinagar, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-26872584 |
|
Mobile No.: |
91-9327103652/ 9377103584 [Mr. Ashish B] |
|
Fax No.: |
91-79-26872585 |
|
E-Mail : |
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|
Website : |
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|
|
|
Factory/ Godown : |
Block No. 868, Village Santej, Sola-Santej Road, Taluka
Kalol, District Gandhinagar - 382721, Gujarat, India |
|
Tel. No.: |
91-2764-286681/ 286432 |
|
Fax No.: |
91-2764-286181 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
"Janani", Sreenivasapuram Varkala, District Trivandrum - 695145,
Kerala, India |
|
Tel. No.: |
91-470-2608676 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
3/15, New Bansi Park, Opposite N. L. High School, Nursing Lane, F. V. Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mrs. Nirmala |
|
Designation : |
Director |
|
Address : |
C-3/42, Goyal Intercity, Drive–in–Road, Ahmedabad - 380054, Gujarat,
India |
|
Date of Birth/Age : |
23.09.1963 |
|
Date of Appointment : |
18.06.1999 |
|
DIN No.: |
00033246 |
|
|
|
|
Name : |
Mr. Sumer Raj Sudh Raj Lodha |
|
Designation : |
Director |
|
Address : |
C-3/42, Goyal Intercity, Drive–in–Road, Ahmedabad - 380054, Gujarat,
India |
|
Date of Birth/Age : |
22.09.1956 |
|
Date of Appointment : |
18.06.1999 |
|
DIN No.: |
00033283 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish B |
|
Designation : |
Accounts Department |
|
|
|
|
Name : |
Mr. Bharatkumar P. Tank |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
|
|
849900 |
|
Nirmala Lodha |
|
1440000 |
|
Abhishek Lodha |
|
570000 |
|
Swati Lodha |
|
40000 |
|
Manoj Bothra |
|
50000 |
|
Naresh Bothra |
|
50000 |
|
Chartered Carrier Limited (Now Chartered Logistics Limited), India |
|
100 |
|
|
|
|
|
Total |
|
3000000 |
AS ON 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
0.01 |
|
Directors or relatives of Directors |
99.99 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Selling of Flexible Packaging Material. |
||||||||
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||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual
Production |
|
Pouches |
Kg |
35666062 |
|
Co-extruded Sheets |
Kg |
64655 |
|
Flexible Rolls |
Kg |
2008862 |
|
Wastage |
Kg |
208531 |
GENERAL INFORMATION
|
Customers : |
·
Britannia ·
Pillsbury ·
Vadilal ·
AVT Coffee ·
Cipla ·
T- Stanes ·
Rasna International ·
Surati Sweet Mart ·
Nilamels ·
Sharma’s Kitchen |
|||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||
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No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
|
Bankers : |
·
ING Vyasa Bank Limited, P.B. No. 4038, Chanakya
Building Near Dinesh Hall, Off Ashram Road, Ahmedabad - 380009, Gujarat,
India ·
Corporation Bank, Ahmedabad, |
|||||||||||||||||||||||||||||||||
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Facilities : |
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|||||||||||||||||||||||||||||||||
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Rajendra R Jain and Company Chartered Accountants |
|
Address : |
E-47, Shastri Nagar, Behind Barkayullah Khan Stadium, Jodhpur -
342001, Rajasthan, India |
|
Tel. No.: |
91-291-2772730 |
|
E-Mail : |
|
|
PAN No.: |
AAOPJ6227C |
|
|
|
|
Related Parties : |
· Uma Polymers Limited · Umax Packaging Limited · Shri Uma Plastic Industries Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500000 |
Equity Shares |
Rs.10/- each |
Rs. 35.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
30.000 |
30.000 |
|
(b) Reserves & Surplus |
|
94.488 |
35.216 |
|
(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) |
|
124.488 |
65.216 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
57.026 |
75.510 |
|
(b) Deferred tax liabilities (Net) |
|
9.322 |
10.593 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.214 |
0.125 |
|
Total
Non-current Liabilities (3) |
|
66.562 |
86.228 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
148.969 |
115.683 |
|
(b)
Trade payables |
|
51.841 |
42.302 |
|
(c)
Other current liabilities |
|
36.588 |
26.093 |
|
(d)
Short-term provisions |
|
2.461 |
0.822 |
|
Total
Current Liabilities (4) |
|
239.859 |
184.900 |
|
|
|
|
|
|
TOTAL |
|
430.909 |
336.344 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
167.123 |
132.255 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
2.027 |
1.876 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
169.150 |
134.131 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
122.089 |
82.712 |
|
(c)
Trade receivables |
|
105.302 |
89.872 |
|
(d)
Cash and cash equivalents |
|
20.551 |
12.452 |
|
(e)
Short-term loans and advances |
|
13.817 |
17.177 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
261.759 |
202.213 |
|
|
|
|
|
|
TOTAL |
|
430.909 |
336.344 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
16.800 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
30.304 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
47.104 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
111.773 |
|
|
2] Unsecured Loans |
|
|
78.107 |
|
|
TOTAL BORROWING |
|
|
189.880 |
|
|
DEFERRED TAX LIABILITIES |
|
|
11.181 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
248.165 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
136.208 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
70.218
|
|
|
Sundry Debtors |
|
|
72.877
|
|
|
Cash & Bank Balances |
|
|
5.066
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
14.844
|
|
Total
Current Assets |
|
|
163.005 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
47.184 |
|
|
Other Current Liabilities |
|
|
3.083 |
|
|
Provisions |
|
|
0.781 |
|
Total
Current Liabilities |
|
|
51.048 |
|
|
Net Current Assets |
|
|
111.957
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
248.165 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
521.454 |
456.333 |
331.709 |
|
|
|
Other Income |
5.360 |
9.226 |
1.669 |
|
|
|
Excise Duty on Finished Goods |
0.000 |
0.000 |
0.373 |
|
|
|
TOTAL (A) |
526.814 |
465.559 |
333.751 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material and components consumed |
402.545 |
344.061 |
|
|
|
|
(Increase)/ Decrease in inventories of finished goods |
(14.569) |
(5.016) |
|
|
|
|
Employee benefits expense |
15.833 |
10.463 |
|
|
|
|
Other expenses |
61.797 |
56.369 |
|
|
|
|
TOTAL (B) |
465.606 |
405.877 |
298.756 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.208 |
59.682 |
34.995 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
30.693 |
34.368 |
17.423 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
30.515 |
25.314 |
17.572 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.544 |
19.177 |
13.967 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
11.971 |
6.137 |
3.605 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
2.983 |
1.225 |
1.410 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
8.988 |
4.912 |
1.922 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
27.016 |
22.104 |
20.182 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
36.004 |
27.016 |
22.104 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
2.220 |
4.693 |
2.736 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
31.006 |
29.061 |
|
|
|
|
Capital Goods |
0.000 |
2.871 |
|
|
|
TOTAL IMPORTS |
31.006 |
31.932 |
68.364 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.00 |
1.64 |
1.14 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.71 |
1.06 |
0.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.30 |
1.34 |
1.09 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.78 |
1.82 |
1.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.09 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.65 |
2.93 |
4.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09 |
1.09 |
3.19 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
Yes |
|
19] |
Payments terms |
No |
|
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 LOANS
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other Loans and
Advances |
|
|
|
Deposits from Customers |
6.674 |
6.590 |
|
Loans from
Corporate Bodies/ Banks |
21.427 |
33.152 |
|
Deposits from
Members |
10.182 |
7.304 |
|
SHORT TERM BORROWINGS |
|
|
|
Deposits from
Directors |
3.621 |
24.992 |
|
Deposits from
Shareholders |
10.000 |
1.237 |
|
|
|
|
|
Total |
51.904 |
73.275 |
CORPORATE
INFORMATION:
Subject is a closely held company domiciled in India and incorporated
under the provisions of the Companies Act, 1956. The company is engaged in the
manufacturing and selling of Flexible Packaging Material.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U55200GJ1999PTC036163 |
|
Name of the
company |
UMA CONVERTER
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A/36, 4th Floor, Circle – B, Judges Bunglow Road, Sarkhej
Bodakde Highway, Gandhinagar, Ahmedabad – 380015, Gujarat, India Email: ho@umaconverter.com |
|
This form is for |
Modification of charge |
|
Charge identification
(ID) number of the charge to be modified |
10364908 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
ING Vyasa Bank Limited, P.B. No. 4038, Chanakya Building Near Dinesh Hall,
Off Ashram Road, Ahmedabad- 380009, Gujarat, India |
|
Nature of
instrument creating charge |
Memorandum of Deposit of Title Deeds cum Entry |
|
Date of
instrument Creating the charge |
18.09.2012 |
|
Amount secured by
the charge |
Rs. 50.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest No Changes Terms of Repayment No Changes Margin No Changes Extent and Operation of the charge Cash Credit Limit
- Rs. 25.000 Millions ILC/FLC Limit -
Rs. 22.500 Millions BC (Sublimit of
ILC/FLC of Rs. 22.500 Millions) LEF Limit - Rs.
2.500 Millions Total Exposure -
Rs. 50.000 Millions Exclusive charge
by way of Equitable mortgage on property. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First and
exclusive charge on all that the pieces or parcel of land bearing survey Plot
No. 761 admeasuring about approximate 3805 sq. mtrs, built up area situated
at Block No. 868, Village- Santej in Kalol Taluka District of Gandhinagar. First and
exclusive charge on all that the pieces or parcel of land bearing survey Plot
No. 764/2 admeasuring about
approximate 1665 sq.mtrs, built up area of approximate 1330 sq.mtrs. situated
at Block No. 871, Village- Santej in Kalol Taluka District of Gandhinagar. |
|
Date of
instrument modifying the charge |
25.05.2012 |
|
Particulars of
the present modification |
The total Limit of
Rs. 50.000 Millions secured by way of all that the pieces or parcel of land
bearing survey Plot No. 761 admeasuring about approximate 3805 sq. mtrs.
& Plot No. 764/2 admeasuring about approximate 1665 sq. mtrs, built up
area of approximate 1330 sq.mtrs. situated at Block No. 871, Village- Santej
in Kalol Taluka District of Gandhinagar. |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Bank guarantee to sales tax department for the financial year 2005-06 |
0.255 |
0.000 |
|
Bonds to Custom Authorities for Export Commitments against import |
10.316 |
10.316 |
|
|
|
|
|
Total |
10.571 |
10.316 |
FIXED ASSETS
·
Land and Sit Development
·
·
Furniture and Fixtures
·
Office Equipments
·
Computer and Printer
·
Motor and Vehicles
·
Electric Installation
·
Factory and Auxiliary
Equipments
·
Software
·
Building under
Construction
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. 61.41 |
|
UK Pound |
1 |
Rs. 99.29 |
|
Euro |
1 |
Rs. 83.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.