MIRA INFORM REPORT
|
Report Date : |
10.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
B AND A PACKAGING INDIA LIMITED |
|
|
|
|
Registered
Office : |
22, Balgopalpur Industrial Aresa, Balasore – 756020, Orissa |
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|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
16.01.1986 |
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|
|
|
Com. Reg. No.: |
15-001624 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.802 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21021OR1986PLC001624 |
|
|
|
|
Legal Form : |
A Public Limited Liability company. The company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturer of Flexible Packaging. |
|
|
|
|
No. of Employees
: |
100 (Approximately) (In Office + In Factory) |
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 394000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. Profitability of the company appears to be low. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 |
|
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.
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.
LOCATIONS
|
Registered Office / Factory 1 : |
22,
Balgopalpur Industrial Area, Balasore - 756 020, Orissa, India |
|
Tel. No.: |
91-674-430064 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
113,
Park Street, 9th Floor, Kolkata - 700 016, West Bengal, India |
|
Tel. No.: |
91-33-22269582 / 22295098 / 22657389 / 22168862 / 22178048 |
|
Fax No.: |
91-33-22277538 |
|
|
|
|
Factory 2 : |
1185/1186,
Tankapani Road, Bhubaneswar - 751 018, Orissa, India |
|
Tel. No.: |
91-6782-275725 / 729 |
DIRECTORS
As on: 31.03.2013
|
Name : |
Mr.
Hemendra Prasad Barooah |
|
Designation : |
Whole-time Director and Executive Chairman |
|
|
|
|
Name : |
Mr.
Panchkari Banerjee |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Vijay Raghuram Shetty |
|
Designation : |
Director |
|
|
|
|
Name : |
Mrs.
Gargi Barooah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Anjan Ghosh |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr.
Sudipto Sarkar |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Somnath Chatterjee |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. Gunjan Kumar Chaurasia |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.06.2013
|
Category of
Shareholder |
Total No. of
Shares |
Total
Shareholding as a % of total No. of Shares |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
25800 |
0.52 |
|
|
3554829 |
71.66 |
|
|
9500 |
0.19 |
|
|
9500 |
0.19 |
|
|
3590129 |
72.37 |
|
|
|
|
|
|
100000 |
2.02 |
|
|
100000 |
2.02 |
|
Total shareholding of Promoter and Promoter Group (A) |
3690129 |
74.39 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
300000 |
6.05 |
|
|
300000 |
6.05 |
|
|
|
|
|
|
372200 |
7.50 |
|
|
|
|
|
|
585171 |
11.80 |
|
|
13000 |
0.26 |
|
|
970371 |
19.56 |
|
Total Public shareholding (B) |
1270371 |
25.61 |
|
Total (A)+(B) |
4960500 |
100.00 |
|
(C) Shares held by Custodians and against which Depository Receipts have
been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
4960500 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Flexible Packaging. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) (In Office + In Factory) |
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Bankers : |
State Bank of India, Industrial Finance Branch, 11,
Dr. U. N. Brahmachari Street Kolkata
- 700 017, West Bengal, India |
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Facilities : |
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Banking
Relations : |
-- |
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Financial
Institution : |
Industrial Finance Branch |
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Auditors : |
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|
Name : |
APS Associates Chartered Accountants |
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|
Holding Company : |
B&A Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8000000 |
Equity Shares |
Rs.10/- each |
Rs.80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4960500 |
Equity Shares |
Rs.10/- each |
Rs.49.605 Millions |
|
39500 |
forfeited Shares |
|
Rs. 0.197 Millions |
|
|
|
|
Rs. 49.802
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
49.802 |
49.802 |
49.802 |
|
(b) Reserves & Surplus |
48.761 |
46.885 |
30.935 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
98.563 |
96.687 |
80.737 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
67.313 |
69.293 |
19.535 |
|
(b) Deferred tax liabilities (Net) |
6.379 |
2.853 |
2.708 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.555 |
1.558 |
1.303 |
|
Total Non-current
Liabilities (3) |
75.247 |
73.704 |
23.546 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
84.858 |
66.716 |
52.205 |
|
(b) Trade payables |
61.272 |
32.257 |
30.423 |
|
(c) Other current
liabilities |
17.493 |
16.579 |
2.232 |
|
(d) Short-term
provisions |
17.143 |
17.999 |
8.814 |
|
Total Current
Liabilities (4) |
180.766 |
133.551 |
93.674 |
|
|
|
|
|
|
TOTAL |
354.576 |
303.942 |
197.957 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
143.654 |
32.003 |
31.509 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
3.617 |
109.696 |
0.073 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
2.591 |
2.540 |
0.460 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
149.862 |
144.239 |
32.042 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
88.350 |
63.850 |
66.340 |
|
(c) Trade receivables |
71.842 |
57.236 |
44.355 |
|
(d) Cash and cash
equivalents |
10.724 |
8.450 |
8.881 |
|
(e) Short-term loans
and advances |
33.798 |
30.167 |
46.339 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
204.714 |
159.703 |
165.915 |
|
|
|
|
|
|
TOTAL |
354.576 |
303.942 |
197.957 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
308.939 |
293.335 |
273.864 |
|
|
|
Other Income |
3.626 |
2.213 |
0.670 |
|
|
|
TOTAL |
312.565 |
295.548 |
274.534 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of
materials consumed |
224.240 |
219.472 |
191.696 |
|
|
|
Changes in
inventories of finished goods |
(4.497) |
(9.041) |
(3.676) |
|
|
|
Employee benefit
expense |
25.986 |
20.772 |
19.453 |
|
|
|
Other expenses |
33.550 |
25.934 |
32.358 |
|
|
|
TOTAL |
279.279 |
257.137 |
239.831 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
33.286 |
38.411 |
34.703 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
21.862 |
11.693 |
10.542 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
11.424 |
26.718 |
24.161 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
6.887 |
1.632 |
1.947 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.537 |
25.086 |
22.314 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.391 |
7.406 |
7.670 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.146 |
17.680 |
14.544 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
23.524 |
7.573 |
(6.971) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
NA |
(1.488) |
Nil |
|
|
|
Corporate Dividend Tax |
NA |
(0.241) |
Nil |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
23.524 |
7.573 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
15.778 |
9.423 |
0.782 |
|
|
TOTAL EARNINGS |
15.778 |
9.423 |
0.782 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
91.344 |
104.687 |
102.483 |
|
|
TOTAL IMPORTS |
91.344 |
104.687 |
102.483 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.03 |
3.56 |
2.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.05
|
5.98 |
5.30 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50
|
8.55 |
8.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.29
|
12.91 |
11.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.26 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
3.05
|
1.41 |
0.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.13
|
1.19 |
1.77 |
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 |
No |
|
10] |
Designation
of contact person |
No |
|
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 |
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 |
Yes |
|
30] |
Major
Shareholders, if available |
Yes |
|
31] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
No |
UNSECURED LOAN:
|
Particulars |
31.03.2013 [Rs.
in Millions] |
31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowing |
|
|
|
Loan from
related parties |
|
|
|
From Barooahs
and Associates Private Limited |
20.400 |
20.400 |
|
From a Directors |
5.400 |
5.400 |
|
|
|
|
|
Total |
25.800 |
25.800 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10321082 |
12/10/2011 |
237,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,
LOWER PAREL - (WEST), MUMBAI, Maharashtra - 400013, INDIA |
B26815084 |
|
2 |
10134562 |
02/12/2008 |
463,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG,
LOWER PAREL - (WEST), MUMBAI, Maharashtra - 400013, INDIA |
A53270278 |
|
3 |
80036182 |
30/07/2013 * |
224,600,000.00 |
STATE BANK OF INDIA |
Industrial Finance Branch, Kolkata, 11,
Dr. U. N. Brahmachari Street, Kolkata,
West Bengal - 700017, INDIA |
B82255688 |
* Date of charge modification
PERFORMANCE REVIEW:
PAPER SACKS DIVISION:
During the year, the Paper Sacks Division recorded marginally lower sales compared to last year. The major reasons are intake of lower volume of Tea Sacks due to change in policy of some of the major buyers. A shift had been observed from paper sacks to Polypropylene sack for medium and cheaper tea. The other reasons are recession in the automobile industry, resulted in sale of lower volume of carbon black sacks. Good growth happened in other sacks segment especially chemical.
FLEXIBLE PACKAGING
DIVISION:
Regarding the new Flexible Packaging Unit, the performance during the year was not encouraging. The unit fell short of its targeted volume. The Company could not achieve the target since the business did not stabilize during the year as was anticipated earlier. Due to ban by the Supreme Court on the Guthka Industry regarding usage of plastics, the flexible division has had to cut down on their production volume by 30% to 35%.Big and medium flexible laminate units have to cut down heavily on costs for survival.
Since the growth possibility in this unit could be phenomenal, they may have to nurture this for some more time by infusing additional investment and/or working capital.
FUTURE PROSPECTS:
PAPER SACKS DIVISION:
Efforts are being made to increase the volume of sales. The Company has approached new buyer in South India and Dooars and is also pursuing the existing major buyers to increase the volume of Tea sacks. Initial months of the current year are showing positive results for tea sack sale. Chemical segment to be consolidated further, which the directors are considering to explore. Initiation has also been taken for marketing of 2 ply Paper sacks for export to the Kenya Tea Development Authority.
FLEXIBLE PACKAGING DIVISION:
The Director are constantly monitoring the flexible unit and making all possible efforts to improve the performance of the Company. They are negotiating with major corporate houses for the breakthrough of business volume and they are expecting positive movement shortly.
They are hopeful that 2014 will be a better year for both this unit.
OUTLOOK:
The Company’s outlook for the business in 2013-14 is quite positive. However, important factors may influence the company’s operations include various internal as well as external factors such as revival of Indian economy, government’s policy changes which may not be in the hands of the management and company.
The RBI has projected a GDP growth of 6.5 % for 2013-14, all these projections point to continuation or improvement over the pace of economic activity of the previous year. Combined with a lower inflation rate, the prognosis for the new financial year is one of improved performance on growth front.
UNAUDIATED FINANCIAL RESULTS FOR THE FIRST QUARTER ENDED 30TH
JUNE 2013
|
PART- I |
|
|
|
|
Particulars |
3 Months ended 30.06.13 |
|
|
|
Unaudited |
|
1 |
Income
from Operations |
|
|
|
a) Net
Sales from operations (net of excise duty) |
87.572 |
|
|
|
|
|
|
b) Other
Operating Income |
0.079 |
|
|
|
|
|
|
Total
Income from operations (net) |
87.651 |
|
|
|
|
|
2 |
Expenses |
|
|
|
a) Cost
of materials consumed |
56.646 |
|
|
|
|
|
|
b) Changes in Inventories of Finished goods and Stock -in-process |
5.181 |
|
|
|
|
|
|
c)
Employee benefits expense |
7.947 |
|
|
|
|
|
|
d)
Depreciation and amortisation expense |
1.777 |
|
|
|
|
|
|
e) Other
Expenses |
8.496 |
|
|
|
|
|
|
Total
Expenses |
80.047 |
|
|
|
|
|
3 |
Profit from Operations
before Other Income, Finance costs, Exchange Difference and Exceptional Items
(1-2) |
7.604 |
|
|
|
|
|
4 |
Other
Income |
0.260 |
|
|
|
|
|
5 |
Profit from
ordinary activities before finance costs, Exchange Difference and Exceptional
Items (3+4) |
7.864 |
|
|
|
|
|
6 |
a)
Finance Costs (Net ) (Note No. 5) |
5.935 |
|
|
|
|
|
7 |
Profit/(Loss) from ordinary activities
after Finance costs and Exchange Difference but before Exceptional Items
(5-6) |
1.929 |
|
|
|
|
|
8 |
Exceptional
Items |
0.000 |
|
|
|
|
|
9 |
Profit/(Loss)
from Ordinary Activities before Tax (7+8) |
1.929 |
|
|
|
|
|
10 |
Tax Expenses
( Including Deferred Tax) |
0.596 |
|
|
|
|
|
11 |
Net
Profit / (Loss) from Ordinary Activities after Tax (9-10) |
1.333 |
|
|
|
|
|
12 |
Extraordinary
Item (Net of expense Rs. Nil) |
-- |
|
|
|
|
|
13 |
Net
Profit / (Loss) for the period |
1.333 |
|
|
|
|
|
14 |
Paid Up
Equity Share Capital (Face Value of Share Rs. 10/- each) |
49.803 |
|
|
|
|
|
15 |
Reserves Excluding Revaluation Reserve (As per Balance Sheet of
previous accounting year) |
0.000 |
|
|
|
|
|
16 |
Earning Per
Share - Basic (Rs.) (*Not Annualised) |
0.27 |
|
|
-
Diluted (Rs.) - (*Not Annualised) (Note No. 6) |
0.27 |
|
Particulars |
30.06.2013 |
|
A PARTICULARS OF
SHAREHOLDING |
Unaudited |
|
1. Public Shareholding |
|
|
- No. of shares |
1270371 |
|
- percentage of shareholding |
25.61% |
|
2. Promoters and promoter group |
|
|
Shareholding |
|
|
(a) Pledged/Encumbered |
|
|
- Number of Shared |
0.00 |
|
- Percentage of shares (as a % of the total |
0.00 |
|
shareholding
of promoter and promoter group) - Percentage of shares (as a % of the totai
share |
0.00 |
|
capital of the
company ) (b) Non-encumbered |
|
|
- Number of Shares |
3690129 |
|
- Percentage of shares (as a % of the total |
100.00% |
|
shareholding
of promoter and promoter group) - Percentage of shares (as a % of the tota)
share |
74.39% |
|
capital of the company ) |
|
|
Particulars
|
3
Months ended 30.06.2013 |
|
B INVESTORS
COMPLAINTS |
|
|
Pending
at the beginning of the quarter |
Nil |
|
Received
during the quarter |
2 |
|
Disposed
of during the quarter |
1 |
|
Remaining
unresolved at the end of the quarter |
1 |
FIXED ASSETS:
œ
Land (Leasehold)
œ
Building
œ
Plant and Machinery
œ
Electrical Installation
œ
Furniture and Fixture
œ
Office Equipment
œ
Vehicle
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.61.92 |
|
|
1 |
Rs.99.45 |
|
Euro |
1 |
Rs.83.92 |
INFORMATION DETAILS
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--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.