MIRA
INFORM REPORT
|
Report Date : |
18.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
FUTURE AGROVET LIMITED |
|
|
|
|
Formerly Known
As : |
PANTALOON FOOD PRODUCT ( |
|
|
|
|
Registered
Office : |
Knowledge House,
Shyam Nagar, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
13.04.2005 |
|
|
|
|
Com. Reg. No.: |
11-152599 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 365.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15100MH2005PLC152599 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP20555D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP5377P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Wholesale Trade business in Agro Product like
Oil, Fruits, Vegetable, Spices etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management
|
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1430000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. There appear some accumulated losses recorded by the company. However, sales and profit of the company has increased in 2012.
Overall performance of the company is improving. Rating also takes into consideration strong support from future group
and strong operational synergies with the group companies. Trade relations are reported to be fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered for 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.
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
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 |
CARE |
|
Rating |
Long term bank facilities : BBB+ 22 Crore
(SO) |
|
Rating Explanation |
Moderate credit quality and average credit
risk. |
|
Date |
January 15, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities : A3 2 Crore |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
January 15, 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 (PARTIAL DETAILS)
|
Name : |
Mr. Dinesh Chandak |
|
Designation : |
Finance Department |
|
Contact No.: |
91-9821951410 |
|
Date : |
17.10.2013 |
LOCATIONS
|
Registered Office : |
Knowledge House,
Shyam Nagar, Off Jogeshwari-Vikhroli Link Road, Jogshwari (East), Mumbai – 400060,
Maharashtra, India |
|
Tel. No.: |
91-22-66442200 |
|
Mobile No.: |
91-9821951410 (Mr. Dinesh Chandak) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Operating Office : |
701/702, Banking Complex - II, Plot No. 9/10, Sector 19A, Vashi, Navi
Mumbai – 400705, Maharashtra, India |
DIRECTORS
AS ON 26.09.2012
|
Name : |
Mr. Damodar Shyamsunder Mall |
|
Designation : |
Director |
|
Address : |
2A, Regency Park, Edenwoods,
Thane – 400601, Maharashtra, India |
|
Date of Birth/Age : |
02.01.1963 |
|
Qualification : |
BE-IIT, DBM-IIM |
|
Date of Appointment : |
13.04.2005 |
|
DIN No.: |
00043330 |
|
|
|
|
Name : |
Mr. Chandra Prakash Toshniwal |
|
Designation : |
Director |
|
Address : |
A-603, 'Kanishk', Great
Eastern Link, Ram Mandir Road, Goregaon (West), Mumbai – 400104, Maharashtra,
India |
|
Date of Birth/Age : |
29.09.1966 |
|
Qualification : |
CA, CS, B.Com |
|
Date of Appointment : |
10.02.2006 |
|
DIN No.: |
00036303 |
|
|
|
|
Name : |
Mr. Narendra Baheti |
|
Designation : |
Managing director |
|
Address : |
A-702, Govind Complex,
Sector 14, Vashi, Navi Mumbai – 400703, Maharashtra, India |
|
Date of Birth/Age : |
26.12.1967 |
|
Qualification : |
MA |
|
Experience : |
21 Years |
|
Date of Appointment : |
13.04.2005 |
|
PAN No.: |
ACGPB4873Q |
|
DIN No.: |
00057255 |
|
|
|
|
Name : |
Mr. Sadashiv Vasudeo Nayak |
|
Designation : |
Director |
|
Address : |
No. 402, Tirupati
Apartments, 18lh Road, Khar (West), Mumbai – 400052, Maharashtra,
India |
|
Date of Birth/Age : |
24.07.1970 |
|
Qualification : |
BE, MBA |
|
Date of Appointment : |
19.09.2007 |
|
DIN No.: |
01751221 |
|
|
|
|
Name : |
Mr. Rajendra Rameshwar Lal Baheti |
|
Designation : |
Director |
|
Address : |
C9/75, 1st
Floor, Sector 8, Rohini, Delhi – 110085, India |
|
Date of Birth/Age : |
02.07.1966 |
|
Qualification : |
Graduate and CA Inter |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ACGPB4833L |
|
DIN No.: |
01720389 |
|
|
|
|
Name : |
Mr. Govind Prasad Baheti |
|
Designation : |
Director |
|
Address : |
Tower, B-404-4, Mantri
Sarovar HSR Layout, Opposite Agra Lake, Bangalore – 560034, Karnataka, India |
|
Date of Birth/Age : |
08.04.1972 |
|
Qualification : |
B.Com, CFA |
|
Date of Appointment : |
01.04.2010 |
|
PAN No.: |
ADTPB8573H |
|
DIN No.: |
03054966 |
KEY EXECUTIVES
|
Name : |
Mr. Dinesh Chandak |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Pantaloon Retail (India)
Limited |
|
35099995 |
|
Pantaloon Retail (India)
Limited jointly with Chandra Prakash Toshniwal |
|
1 |
|
Pantaloon Retail (India)
Limited jointly with Rajesh Kalyani |
|
1 |
|
Pantaloon Retail (India)
Limited jointly with Damodar Mall |
|
1 |
|
Pantaloon Retail (India)
Limited jointly with Narendra Baheti |
|
1 |
|
Pantaloon Retail (India) Limited
jointly with Sharad Venkta |
|
1 |
|
Narendra Baheti |
|
600000 |
|
Rajendra Baheti |
|
600000 |
|
Govind Baheti |
|
100000 |
|
Manoj Baheti |
|
100000 |
|
|
|
|
|
Total |
|
36500000 |
AS ON 26.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
96.16 |
|
Directors
or relatives of directors |
3.56 |
|
Other
top fifty shareholders |
0.28 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Wholesale Trade business in Agro Product like
Oil, Fruits, Vegetable, Spices etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash, Credit and Depend |
GENERAL INFORMATION
|
Customers : |
Wholesale |
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|
|||||||||||||||||||||
|
No. of Employees : |
Information declined by the management
|
|||||||||||||||||||||
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|
|
|||||||||||||||||||||
|
Bankers : |
· Indusind Bank Limited, Maker Chamber IV, Ground Floor, Nariman Point, Mumbai - 400021, Maharashtra, India ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri,
Baroda - 390015, Gujarat, India Corporation Bank, Fort, Mumbai - 400001, Maharashtra,
India ·
IDBI Bank Limited, 1st Floor, Videocon Tower,
E-1, Jhandewalan Extension, New Delhi - 110055, India ·
IDBI Bank Limited, IDBI Tower, 12th Floor, World
Trade Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
NGS and Company Chartered Accountants |
|
Address : |
B/46, 3rd Floor, Pravasi Industrial Estate, Vishweshwar
Nagar Road, Goregaon (East), Mumbai – 400063, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AABFS3313D |
|
|
|
|
Holding company : |
Pantaloon Retail (India)
Limited [L52399MH1987PLC044954] |
|
|
|
|
Fellow Subsidiary company : |
· Future Value Retail Limited [U52100MH2007PLC171524] FSC Brand Distribution Services Limited
[U51109MH2008PLC189032] Home Solutions Retail (India) Limited [U52330MH2004PLC148956] Future Supply Chain Solutions Limited
[U63030MH2006PLC160376] Futurebazaar India Limited [U51900MH2006PLC159197] |
|
|
|
|
Enterprises which are owned, or have
significant influence of or are partners
with Key management personnel and their relatives : |
· Premium Harvest Limited [U15130MH2004PLC149218] Rajendra and Company Future Agrovet Employees Stock Option Trust |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
60,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 600.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36,500,000 |
Equity Shares |
Rs. 10/- each |
Rs. 365.000 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 |
|
365.000 |
365.000 |
|
(b) Reserves & Surplus |
|
(7.848) |
(39.554) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
10.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
357.152 |
335.446 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
11.137 |
3.220 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
6.601 |
2.587 |
|
Total Non-current
Liabilities (3) |
|
17.738 |
5.807 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1011.462 |
562.822 |
|
(b)
Trade payables |
|
439.359 |
338.605 |
|
(c)
Other current liabilities |
|
68.623 |
39.222 |
|
(d) Short-term
provisions |
|
1.183 |
0.427 |
|
Total Current
Liabilities (4) |
|
1520.627 |
941.076 |
|
|
|
|
|
|
TOTAL |
|
1895.517 |
1282.329 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
134.411 |
88.925 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
19.217 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.272 |
0.089 |
|
(c) Deferred tax assets (net) |
|
3.098 |
17.696 |
|
(d) Long-term Loan and Advances |
|
36.873 |
22.765 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
193.871 |
129.475 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.013 |
0.000 |
|
(b)
Inventories |
|
782.021 |
737.729 |
|
(c)
Trade receivables |
|
622.979 |
319.480 |
|
(d) Cash
and cash equivalents |
|
8.015 |
69.701 |
|
(e)
Short-term loans and advances |
|
287.278 |
25.944 |
|
(f)
Other current assets |
|
1.340 |
0.000 |
|
Total
Current Assets |
|
1701.646 |
1152.854 |
|
|
|
|
|
|
TOTAL |
|
1895.517 |
1282.329 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
365.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(60.509) |
|
|
NETWORTH |
|
|
304.491 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
313.633 |
|
|
2] Unsecured Loans |
|
|
180.000 |
|
|
TOTAL BORROWING |
|
|
493.633 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
798.124 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
179.676 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.080 |
|
|
DEFERRED TAX ASSETS |
|
|
25.551 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
681.280 |
|
|
Sundry Debtors |
|
|
160.179 |
|
|
Cash & Bank Balances |
|
|
24.674 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
70.171 |
|
Total
Current Assets |
|
|
936.304 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
331.965 |
|
|
Other Current Liabilities |
|
|
7.988 |
|
|
Provisions |
|
|
3.534 |
|
Total
Current Liabilities |
|
|
343.487 |
|
|
Net Current Assets |
|
|
592.817 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
798.124 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
10458.439 |
7782.971 |
5776.386 |
|
|
|
Other Income |
104.981 |
43.666 |
5.242 |
|
|
|
TOTAL (A) |
10563.420 |
7826.637 |
5781.628 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
10029.307 |
|
|
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(44.292) |
(56.449) |
|
|
|
|
Employee benefit expense |
192.000 |
172.180 |
|
|
|
|
Other expenses |
235.090 |
181.964 |
|
|
|
|
TOTAL (B) |
10412.105 |
7746.973 |
5723.861 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
151.315 |
79.664 |
57.767 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
91.461 |
41.373 |
43.021 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
59.854 |
38.291 |
14.746 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.550 |
9.481 |
19.454 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
46.304 |
28.810 |
(4.708) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.598 |
7.855 |
(1.978) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
31.706 |
20.955 |
(2.730) |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Trading goods |
46.066 |
37.657 |
|
|
|
|
Capital Goods |
6.268 |
0.000 |
|
|
|
TOTAL IMPORTS |
52.334 |
37.657 |
NA
|
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.87 |
0.57 |
(0.07) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.30
|
0.27 |
(0.05) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.44
|
0.37 |
(0.08) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.47
|
2.28 |
(0.42) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13
|
0.09 |
(0.02) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.86
|
1.69 |
1.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.23 |
2.73 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
31.03.2010 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
5.229 |
1.435 |
NA |
|
|
|
|
|
|
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 |
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 |
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 |
10443365 |
28/06/2013 |
590,000,000.00 |
CORPORATION BANK |
FORT, MUMBAI -
400001, MAHARASHTRA, INDIA |
B82265760 |
|
2 |
10407765 |
09/01/2013 |
100,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER, 12TH
FLOOR, WORLD TRADE COMPLEX, CUFFE PARADE, MUMBAI - 400005, MAHARASHTRA, INDIA |
B69522654 |
|
3 |
10389400 |
02/11/2012 |
300,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. ANNIE BESANT ROAD, WORLI, MUMBAI - 400018,
MAHARASHTRA, INDIA |
B63120992 |
|
4 |
10299348 |
09/01/2013 * |
750,000,000.00 |
IDBI BANK
LIMITED |
1ST FLOOR,
VIDEOCON TOWER, E-1, JHANDEWALAN EXTENSION, NEW DELHI - 110055, INDIA |
B66022922 |
|
5 |
10239635 |
04/09/2010 |
100,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA - 390015, GUJARAT, INDIA |
A94554045 |
|
6 |
10212522 |
27/03/2010 |
870,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A83280446 |
|
7 |
10204372 |
23/02/2010 |
150,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A80238488 |
|
8 |
10002563 |
01/10/2008 * |
120,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL [WEST], MUMBAI - 400013, MAHARASHTRA, INDIA |
A48084982 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Working capital loans from banks |
200.000 |
400.000 |
|
|
|
|
|
Total |
200.000 |
400.000 |
FINANCIALS
During the year, the Company has achieved a turnover of
Rs.10563.400 Millions as against Rs. 7796.000 Millions during the previous year
registering 35% growth in turnover. The Company has earned a Net Profit of
Rs.31.700 Millions as against a Net Profit of Rs. 20.900 Millions during the
previous year.
FIXED ASSETS:
· Plant and equipment
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
Leasehold
improvements
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. 61.58 |
|
|
1 |
Rs. 98.51 |
|
Euro |
1 |
Rs. 83.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
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 |
|
45 |
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.