MIRA INFORM REPORT
|
Report Date : |
07.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
DEEM ROLL-TECH LIMITED (w.e.f. 04.03.2008) |
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|
|
|
Formerly Known
As : |
DEEM ROLL-TECH PRIVATE LIMITED |
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Registered
Office : |
Survey No.110/1, P-1, 110/2, Ganeshpura, Taluka Kadi, Mahesana-382729,
Gujarat |
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|
Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
01.05.2003 |
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Com. Reg. No.: |
04-042325 |
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Capital
Investment / Paid-up Capital : |
Rs. 11.012 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ2003PLC042325 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMD03315E |
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PAN No.: [Permanent Account No.] |
AABCD9176A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Roll and Fibers Bearings. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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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. There appears slight dip in profit of the company. However, overall
financial position of the company appears to be sound. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered normal for business dealing at usual
trade terms and condition. |
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 |
ICRA |
|
Rating |
BBB- (Long Term Scale) |
|
Rating Explanation |
The moderate-credit-quality rating assigned by ICRA. The rated
instruments carries higher than average credit risk |
|
Date |
January 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short Term Scale) |
|
Rating Explanation |
The moderate-credit-quality rating assigned by ICRA to short term debt
instruments. However, instruments need in this category carry higher credit
risk. |
|
Date |
January 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. Abhijit Khare |
|
Designation : |
Chief Finance Officer |
|
Contact No.: |
91-79-26857825 |
|
Date : |
04.10.2013 |
LOCATIONS
|
Registered Office / Factory 1 : |
Survey No.110/1, P-1, 110/2, Ganeshpura, Taluka Kadi, Mahesana-382729,
Gujarat, India |
|
Tel. No.: |
91-79-26851825 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location: |
Owned |
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|
Head Office : |
C/3-301, Anushruti Apartment, Opposite Newyork Tower, Near Jain Mandir,
S. G. Highway, Thaltej, Ahmedabad-380054, Gujarat, India |
|
Tel. No.: |
91-79-26870852/ 40027481 |
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Fax No.: |
91-79-40099474/ 40099474 |
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Factory 2 : |
Plot No. 1006/1007, Chhatral GIDC, Chatral, Taluka Kalol, District Gandhinagar-382729,
Gujarat, India |
|
Tel. No.: |
91-2764-233099 |
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Fax No.: |
91-2764-232199 |
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E-Mail : |
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Factory 3 : |
Village-Gholsara,P.O. Sinhet, P.S Dadpur, Dist – Hoogly –
712305, West Bengal, India |
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Tel No.: |
91- 321-3250416 |
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E-Mail : |
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|
Kolkata
Office: |
57A, Mahanirban Road, Near, Triangular Park, Kolkata –
700029, West Bengal, India |
|
Tel. No.: |
91-33-40035092/40035894 |
DIRECTORS
As on 29.09.2012
|
Name : |
Ms. Jyoti Prasad Bhattacharya |
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Designation : |
Managing Director |
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Address : |
P-4, Shyam Tower, Parth Sarthi Avenue, Satellite, Ahmedabad-380015,
Gujarat, India |
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Date of Birth/Age : |
11.10.1959 |
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Date of Appointment : |
01.10.2009 |
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DIN No.: |
00340485 |
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Other
Directorship:
|
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|
Name : |
Mr. Anup Kumar Mukherjee |
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Designation : |
Director |
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Address : |
Flat No-9, Astha Apartment, Opposite Sharnam-II, Satellite,
Ahmedabad-380015, Gujarat, India |
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Date of Birth/Age : |
05.10.1953 |
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Date of Appointment : |
30.09.2010 |
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DIN No.: |
02994111 |
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Other
Directorship:
|
||||||||||||||||||||||||||||
|
Name : |
Mr. Ranajit Anilkumar Dey |
|
Designation : |
Additional director |
|
Address : |
C/401, Utsav Residency, Opposite Vijaya Bank, New C.G.Road,
Chandkheda, Ahmedabad - 382424, Gujarat, India |
|
Date of Birth/Age : |
29.11.1975 |
|
Date of Appointment : |
01.02.2013 |
|
DIN No.: |
06462998 |
KEY EXECUTIVES
|
Name : |
Mr. Abhijit Khare |
|
Designation : |
Chief Finance Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
SHAREHOLDING DETAIL FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
70.44 |
|
Other top fifty shareholders |
29.56 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Roll and Fibers Bearings. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Rolls |
In MT |
10000 |
8000 |
5048.19 |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
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Particulars
|
Nature of
security |
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Loans repayable on demand from banks: |
|
|
|
|
State Bank Of India |
Inventories and Book Debts. |
128.598 |
133.907 |
|
Axis Bank |
Inventories and Book Debts. |
39.382 |
23.104 |
|
Total - from banks |
|
167.981 |
157.011 |
|
Loans repayable on demand from other parties: |
|
-- |
-- |
|
Total - from other parties |
|
-- |
-- |
|
Loans and advances from related parties: |
|
-- |
-- |
|
Total - Loans and advances from related parties |
|
-- |
-- |
|
Deposits: |
|
-- |
-- |
|
Public deposits |
|
-- |
-- |
|
Total - Deposits |
|
-- |
-- |
|
Other loans and advances: |
|
-- |
-- |
|
Total - Other loans and advances |
|
-- |
-- |
(iii) Details of short-term borrowings guaranteed by some of the
directors or others:
|
Particulars |
|
31.03.2012 Rs. In Millions |
31.03.2011 Rs. In Millions |
|
Loans
repayable on demand from banks |
Guaranted
by Promoter-Director |
167.981 |
157.011 |
|
Loans
repayable on demand from other parties |
|
-- |
-- |
|
Loans and
advances from related parties |
|
-- |
-- |
|
Deposits |
|
|
|
|
Other
loans and advances |
|
-- |
-- |
|
|
167.981 |
157.011 |
|
|
|
|
|
Banking
Relations : |
|
|
|
|
|
Auditors : |
|
|
Name : |
Ramesh C Sharma and Company Chartered Accountant |
|
Address : |
305, Platinum Plaza, Near Judges Bunglow, Bodakdev, Ahmedabad-380054,
Gujarat, India |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
ACKPS9424J |
|
|
|
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Associate Concern/Firms: |
Harihar Engineering Company |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,00,000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11,01,240 |
Equity Shares |
Rs.10/- each |
Rs. 11.012
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 |
|
11.012 |
10.312 |
|
(b) Reserves & Surplus |
|
265.809 |
118.209 |
|
(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) |
|
276.821 |
128.521 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
148.650 |
109.807 |
|
(b) Deferred tax liabilities (Net) |
|
24.686 |
17.342 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
173.336 |
127.149 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
167.981 |
157.012 |
|
(b) Trade
payables |
|
105.937 |
75.926 |
|
(c) Other
current liabilities |
|
68.341 |
56.006 |
|
(d) Short-term
provisions |
|
10.964 |
12.988 |
|
Total Current
Liabilities (4) |
|
353.223 |
301.932 |
|
|
|
|
|
|
TOTAL |
|
803.380 |
557.602 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
382.874 |
195.072 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.962 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.010 |
0.010 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.000 |
0.000 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
382.884 |
196.044 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
184.357 |
167.244 |
|
(c) Trade
receivables |
|
173.785 |
128.816 |
|
(d) Cash
and cash equivalents |
|
21.399 |
32.006 |
|
(e)
Short-term loans and advances |
|
12.020 |
13.763 |
|
(f) Other
current assets |
|
28.935 |
19.729 |
|
Total
Current Assets |
|
420.496 |
361.558 |
|
|
|
|
|
|
TOTAL |
|
803.380 |
557.602 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
10.062 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
81.902 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
91.964 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
177.247 |
|
|
2] Unsecured Loans |
|
|
34.925 |
|
|
TOTAL BORROWING |
|
|
212.172 |
|
|
DEFERRED TAX LIABILITIES |
|
|
12.828 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
316.964 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
184.449 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.010 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
85.637 |
|
|
Sundry Debtors |
|
|
51.280 |
|
|
Cash & Bank Balances |
|
|
6.512 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
34.208 |
|
Total
Current Assets |
|
|
177.637 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
34.356 |
|
|
Other Current Liabilities |
|
|
2.914 |
|
|
Provisions |
|
|
7.862 |
|
Total
Current Liabilities |
|
|
45.132 |
|
|
Net Current Assets |
|
|
132.505 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
316.964 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
673.444 |
550.530 |
354.585 |
|
|
|
Other Income |
6.722 |
1.924 |
2.562 |
|
|
|
TOTAL (A) |
680.166 |
552.454 |
357.147 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
346.921 |
369.304 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
30.617 |
(70.387) |
|
|
|
|
Employee benefits expense |
43.846 |
28.797 |
|
|
|
|
Other expenses |
155.768 |
144.090 |
|
|
|
|
Exceptional items |
0.262 |
0.008 |
|
|
|
|
TOTAL (B) |
577.414 |
471.812 |
289.263 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
102.752 |
80.642 |
67.884 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
45.894 |
24.069 |
20.849 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
56.858 |
56.573 |
47.035 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.811 |
9.843 |
5.616 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.047 |
46.730 |
41.419 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.704 |
15.173 |
15.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
29.343 |
31.557 |
26.338 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
50.845 |
54.806 |
35.737 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.911 |
2.655 |
0.000 |
|
|
|
Capital Goods |
5.518 |
4.085 |
1.871 |
|
|
|
Adv. Against Capital Goods |
0.000 |
1.033 |
0.000 |
|
|
TOTAL IMPORTS |
6.429 |
7.773 |
1.871 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.23 |
30.60 |
26.17 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
890.000 |
The above information has been parted by Mr. Abhijit Khare (Chief Finance
Officer)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
4.31
|
5.71 |
7.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
6.84
|
8.49 |
11.68 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.73
|
8.38 |
11.44 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.36 |
0.45 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.14
|
2.08 |
2.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.20 |
3.94 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
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 |
Note: Registered office of the company has been
shifted from 41, Polyclinic Building, Opposite Chief Justice Bunglow, Bodakdev,
Ahmedabad- 380054, Gujarat, India to the
present address w.e.f 18.12.2009
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term Borrowings |
|
|
|
From other parties |
52.803 |
27.182 |
|
Total |
52.803 |
27.182 |
BUSINESS AND
OPERATIONS REVIEW
During the period
the company achieved
a turnover of Rs.
688.536 Millions as compared to Rs. 556.669 Millions in the previous year registering
an increase of 23.7%. Future outlook is also good.
In the period, the company has also started the production in its third
unit at Hoogly, WB. This expansion would help the company gain the competitive
edge in the market and tap the markets of eastern region.
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10375291 |
05/09/2012 |
110,000,000.00 |
ICICI BANK LIMITED |
9TH FLOOR, JMC
HOUSE, OPP. PARIMAL GARDEN, AMBAWADI, AHMEDABAD, GUJARAT - 380006, INDIA |
B57605198 |
|
2 |
10285688 |
18/04/2011 |
388,500,000.00 |
STATE BANK OF INDIA |
AHMEDABAD MAIN
BRANCH, IB DIVISION, LAL DARWAJA, |
B12289526 |
|
3 |
10281652 |
31/03/2011 |
279,000,000.00 |
STATE BANK OF INDIA |
AHMEDABAD MAIN
BRANCH, IB DIVISION, LAL DARWAJA, |
B11184223 |
|
4 |
10220160 |
09/08/2011 * |
469,000,000.00 |
STATE BANK OF INDIA |
SPECIALIZED
PERSONAL BANKING BRANCH, LALDARWAJA, |
B73864688 |
NOTE: * Date of
charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
|
|
|
Guarantees issued by the company’s bankers
on behalf of the company |
37.552 |
|
Letter of Credit Facilities provided by the
Bank |
35.185 |
FIXED ASSETS
- Land
- Factory Shed
- Plant and
Machinery
- Electric
Installations
- H T Furnace
- Office
Equipments
- Computers
- Fax Machine /
Printers
- Air
Conditioners
- Furniture and
Fixtures
- EPABX
- Telephones
- Xerox Machine
- Refrigerator
- Motor Cycle
- Motor Vehicle
- Bore Well
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 |
|
|
1 |
Rs.99.29 |
|
Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.