MIRA INFORM REPORT
|
Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SULPHUR MILLS LIMITED |
|
|
|
|
Registered
Office : |
604 / 605, 6th Floor, 349 Business Point, Western Express
Highway, Andheri (East), Mumbai – 400069, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 (Profit and Loss Account) |
|
|
|
|
Date of
Incorporation : |
08.07.1960 |
|
|
|
|
Com. Reg. No.: |
11-011752 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.859
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1960PLC011752 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS35159F / MUMS36288A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCS8736K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Sulphur and its formulations and Other Pesticides. |
|
|
|
|
No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (57) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 5300000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Balance
Sheet Statement for the year 2012 is not available. As per Profit and Loss
Account it seems the company is progressing well. The networth of the company seems to be strong as per the Balance
Sheet of 2011. Trade relations are reported as fair. Business is active.
Payments are reported to be regular and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
Long term rating : A+ |
|
Rating Explanation |
Adequate degree of safety it carry low
credit risk. |
|
Date |
February 6, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A1+ |
|
Rating Explanation |
Very strong degree of safety it carry lowest
credit risk. |
|
Date |
February 6, 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. B. Vora |
|
Designation : |
Head in Finance |
|
Contact No.: |
91-22-43452222 |
|
Date : |
07.10.2013 |
LOCATIONS
|
Registered/ Head Office : |
604/ 605, 6th Floor, 349 Business Point, Western Express
Highway, Andheri (East), Mumbai – 400069, Maharashtra, India |
|
Tel. No.: |
91-22-66772551/ 43452222 |
|
Fax No.: |
91-22-66910308/ 43452245 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
303 / 304, T. V. Estate, S. K. Ahire Marg, Worli, P. O. Box. No. 19176, Mumbai – 400025, Maharashtra, India |
|
Tel. No.: |
91-22-24932026/ 24937685/ 24938936 |
|
Fax No.: |
91-22-24939586 |
|
E-Mail : |
|
|
|
|
|
Factory : |
M.I.D.C., Plot No. 8,
Turbhe Naka, Thane – Belapur Road, Navi Mumbai, Maharashtra, India |
|
Tel No.: |
91-22-27681513 |
|
|
|
|
Branch Offices : |
Located at: ·
309, Meghdoot,
Nehru Place, New Delhi – 110019, India ·
1/8/144, ·
541, N.S.R. Road,
Saibaba Colony, Coimbatore - 641011,
Tamilnadu, India |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Deepak Pranjivandas Shah |
|
Designation : |
Managing director |
|
Address : |
501, Vandana
Apartment, Janki Kutir Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.10.1947 |
|
Qualification : |
B.S (MECH.ENGG.) USA |
|
Date of Appointment : |
01.10.1976 |
|
DIN No.: |
00864335 |
|
|
|
|
Name : |
Mr. Suketu Chandrakant Doshi |
|
Designation : |
Whole-time director |
|
Address : |
Sneha Kutir,
Near Cadbury House, Mumbai – 400026, Maharashtra, India |
|
Date of Birth/Age : |
29.11.1957 |
|
Qualification : |
P. Pharma |
|
Date of Appointment : |
01.04.1985 |
|
DIN No.: |
00639815 |
|
|
|
|
Name : |
Mrs. Shilpa Deepak Shah |
|
Designation : |
Whole-time director |
|
Address : |
501, Vandana
Apartment, Janki Kutir Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
30.11.1947 |
|
Qualification : |
M.A (Economics) USA |
|
Date of Appointment : |
31.12.1996 |
|
DIN No.: |
00639833 |
|
|
|
|
Name : |
Binoy Shailesh Shah |
|
Designation : |
Whole-time director |
|
Address : |
Shanti Kutir,
Next To Citien Hotel, Mumbai - 400049, Maharashtra, India |
|
Date of Birth/Age : |
21.03.1969 |
|
Qualification : |
B.E (Electronics) USA, MBA-AGRI Finance |
|
Date of Appointment : |
31.12.1996 |
|
DIN No.: |
00679812 |
|
|
|
|
Name : |
Bimal Deepak Shah |
|
Designation : |
Whole-time director |
|
Address : |
501, Vandana Apartment,
Janki Kutir Juhu, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
01.04.1979 |
|
Qualification : |
B.S (Chemistry, Agriculture) USA, M.S (Plant/ Soil Science) USA |
|
Date of Appointment : |
01.04.2006 |
|
PAN No.: |
AELPS3417A |
|
DIN No.: |
00506415 |
KEY EXECUTIVES
|
Name : |
Mr. B. Vora |
|
Designation : |
Head in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Deepak P. Shah Jointly S.D. Shah and Bimal D. Shah |
|
31140 |
|
S.D. Shah Jointly Deepak P. Shah and Bimal D. Shah |
|
44150 |
|
Deepak P. Shah (HUF) |
|
29600 |
|
Komal D. Shah Jointly Deepak P. Shah and Bimal D. Shah |
|
100 |
|
Bimal D. Shah Jointly Deepak P. Shah and Komal D. Shah |
|
100 |
|
Suketu C. Doshi Jointly Zarna S. Doshi |
|
1000 |
|
Zarna S. Doshi Jointly Suketu C. Doshi |
|
520 |
|
Siddarth S. Doshi Jointly Zarna S. Doshi |
|
1040 |
|
Aditi S. Doshi Jointly Zarna S. Doshi |
|
540 |
|
Rekha S. Shah Jointly Binoy S. Shah |
|
5380 |
|
Binoy Shah Jointly Himani B.Shah |
|
11870 |
|
Shailesh P. Shah (HUF) |
|
21550 |
|
Jay P. Shah Jointly Parimal P. Shah |
|
2570 |
|
Parimal P. Shah |
|
130 |
|
Parul P. Shah |
|
200 |
|
Parimal P. Shah (HUF) |
|
460 |
|
Ravi P. Shah |
|
2550 |
|
Rajul A. Shah Jointly Amit C. Shah |
|
1000 |
|
Amit C. Shah Jointly Rajul A. Shah |
|
1000 |
|
Prakash Himatlal Shah |
|
4250 |
|
Jayant Jagjivan Shah Jointly Hemlata Jayant Shah |
|
3625 |
|
Mahesh Jagjivan Shah Jointly Kunjlata M. Shah |
|
750 |
|
H.R. Sheth Estate of Late R.P. Sheth Executor Nandkuver R. Sheth |
|
3860 |
|
Rasesh R Doshi |
|
180 |
|
Rajesh R.Doshi |
|
1200 |
|
Vidhi Mukund Parekh |
|
100 |
|
Viraj Bharat Shah Jointly Bharat Jagjivan Shah |
|
300 |
|
Mitul J. Shah Jointly Mahesh J. Shah |
|
250 |
|
Gaurav Jayant Shah Jointly Gaurav Shah |
|
1500 |
|
Lopa Notani |
|
4350 |
|
Mahesh Jagjivan Shah |
|
750 |
AS ON 29.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
83.69 |
|
Others
|
16.31 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Sulphur and its formulations and Other Pesticides. |
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|
Products/ Services : |
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Exports : |
|
||||||||
|
Products : |
Finished Goods |
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Countries : |
· Europe |
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|
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Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
|
Countries : |
· Europe · USA |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars (in
tonnes) Per shift per annum (on single shift basis) |
Unit |
Licensed
Capacity |
Installed
Capacity |
|
Sulphur powder |
MT |
N.A. |
8 750 |
|
Other Pesticides |
MT |
N.A. |
8 280 |
|
Liquid Formulations |
KL |
N.A. |
1 775 |
|
|
|
|
|
|
Total |
|
|
18805 |
|
Particulars |
Unit |
Actual
Production (Quantity) |
|
Fertilizers Cosavet Fertis |
MT |
1693.56 |
|
Pesticides Formulations |
MT/KL |
2492.75 |
|
Industrial Sulphur |
MT |
7262.90 |
|
|
|
|
|
Total |
|
11449.21 |
GENERAL INFORMATION
|
No. of Employees : |
400 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Bank of India, Turbhe Branch, Plot No 34, Sector 24, Turbhe, Mumbai - 400705, Maharashtra, India |
||||||||||||
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|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. D. Jokhakar and Company Chartered Accountants |
|
Address : |
Raja Bahadur, Mansion 8, Ambalal Doshi Marg, Fort, Mumbai,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPJ9069L |
|
|
|
|
Subsidiary : |
Sulphur Chemicals Mills (Pty) Limited |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 390.000 Millions |
|
100,000 |
Preference Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
176,005 |
Equity Shares |
Rs. 10/- each |
Rs. 1.760
Millions |
|
|
|
|
|
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
39,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 390.000 Millions |
|
100,000 |
Preference Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
|
|
Total |
|
Rs. 400.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
185,900 |
Equity Shares |
Rs. 10/- each |
Rs. 1.859
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
1.859 |
1.859 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
1331.444 |
1191.105 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
1333.303 |
1192.964 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
80.987 |
98.221 |
|
|
2] Unsecured Loans |
|
3.930 |
4.265 |
|
|
TOTAL BORROWING |
|
84.917 |
102.486 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1418.220 |
1295.450 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
114.332 |
112.676 |
|
|
Capital work-in-progress |
|
77.186 |
10.813 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
214.317 |
45.983 |
|
|
DEFERRED TAX ASSETS |
|
7.365 |
7.483 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
459.638
|
313.773 |
|
|
Sundry Debtors |
|
663.260
|
564.353 |
|
|
Cash & Bank Balances |
|
566.586
|
631.650 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
430.288
|
395.958 |
|
Total
Current Assets |
|
2119.772
|
1905.734 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
575.103
|
329.703 |
|
|
Other Current Liabilities |
|
112.264
|
130.424 |
|
|
Provisions |
|
427.385
|
327.112 |
|
Total
Current Liabilities |
|
1114.752
|
787.239 |
|
|
Net Current Assets |
|
1005.020
|
1118.495 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
1418.220 |
1295.450 |
|
Note: Balance Sheet
Statement for the year 2012 is not available only Profit and Loss Account is
available.
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
3274.756 |
2071.181 |
2021.279 |
|
|
|
Other Income |
112.481 |
70.575 |
78.696 |
|
|
|
TOTAL (A) |
3387.237 |
2141.756 |
2099.975 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1402.634 |
|
|
|
|
|
Purchases of stock-in-trade |
723.374 |
708.071 |
|
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(38.887) |
(133.974) |
|
|
|
|
Employee benefit expense |
100.071 |
75.946 |
|
|
|
|
Other expenses |
596.057 |
434.491 |
|
|
|
|
TOTAL (B) |
2783.249 |
1831.223 |
1734.329 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
603.988 |
310.533 |
365.646 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.974 |
6.545 |
12.699 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
589.014 |
303.988 |
352.947 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
28.986 |
25.176 |
16.973 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
560.028 |
278.812 |
335.974 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
183.840 |
95.118 |
82.159 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
376.188 |
183.694 |
253.815 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
14.975 |
14.363 |
39.320 |
|
|
|
|
|
|
|
|
|
|
TRANSFERRED TO
RESERVES |
NA |
140.000 |
235.000 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Final Dividend |
NA |
43.355 |
43.499 |
|
|
BALANCE CARRIED
TO THE B/S |
NA
|
14.975 |
14.363 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1589.266 |
697.519 |
721.597 |
|
|
|
Other Earnings |
0.000 |
6.572 |
0.000 |
|
|
TOTAL EARNINGS |
1589.266 |
704.091 |
721.597 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
730.919 |
269.709 |
200.366 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2024 |
988 |
13.65 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
3500.000 |
|
|
|
|
|
The above information has been parted by Mr. B. Vora (Head in Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
11.11
|
8.58 |
12.09 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.10
|
13.46 |
16.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
12.48 |
16.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.21 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
NA |
0.06 |
0.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
1.90 |
2.42 |
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
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) |
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 |
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 |
Yes |
|
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 |
90243522 |
31/05/2001 |
67,000,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
2 |
90243213 |
17/11/1994 |
2,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
3 |
90243211 |
17/11/1994 * |
2,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
4 |
90239557 |
17/11/1990 |
5,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
5 |
90243043 |
08/01/1990 * |
3,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
6 |
90242940 |
16/09/1988 * |
1,500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
7 |
90242923 |
13/09/1989 * |
800,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
8 |
90239073 |
22/12/2006 * |
500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
9 |
90242916 |
22/12/1986 * |
800,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
10 |
90238804 |
15/11/1984 * |
920,000.00 |
BANK OF INDIA |
TURBHE BRANCH, PLOT
NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
|
11 |
90242855 |
02/05/1969 |
500,000.00 |
BANK OF INDIA |
TURBHE BRANCH,
PLOT NO 34, SECTOR 24, TURBHE, MUMBAI - 400705, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
Other debt unsecured |
NA |
3.930 |
|
|
|
|
|
Total |
NA
|
3.930 |
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
Disputed Statutory
claims/levies: |
|
|
|
Income Tax matters in disputes/appeals |
33.458 |
30.205 |
|
Cess Tax Appeal pending in Thane session court |
2.098 |
2.098 |
|
Service Tax Central Excise, Ankleshwar |
43.848 |
43.848 |
|
Commissioner of Central Excise, Belapur |
72.840 |
0.000 |
|
Assistant Commissioner of Customs (Preventive), M and P
wing , Alib |
10.077 |
15.742 |
FIXED ASSETS:
· Land
· Building
· Office building
· Factory building
· Plant and machinery
· Office equipments
· Factory equipments
· Computer equipments
· Other equipments
· Furniture and fixtures
· Vehicles
· Leasehold properties
· Computer software
· Knowhow
· 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 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. 61.78 |
|
|
1 |
Rs. 99.06 |
|
Euro |
1 |
Rs. 83.84 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
57 |
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.