MIRA INFORM REPORT
|
Report Date : |
31.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 31.07.2007) |
|
|
|
|
Formerly Known
As : |
NIKITA PLAST INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
65, Shanti Industrial Estate, |
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Country : |
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|
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Financials (as
on) : |
31.03.2013 |
|
|
|
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Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168369 |
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|
Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2007PTC168369 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN14534C |
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|
|
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PAN No.: [Permanent Account No.] |
AACCN4672Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is
engaged in the manufacturing and selling of high quality of Packaging Products
like Shrink Sleeves, Laminates, Polly Rolls, Garment Bags, Pick up Bags and
Digital Printed Products. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3000000 |
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|
|
|
Status : |
Satisfactory |
|
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|
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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 satisfactory track record. Financial position of the company appears to be good. Trade relations are reported as decent. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal 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
India’s current
account deficit or CAD in April-June widened to 4.9 % of gross domestic product.
High imports of gold and oil led to a worsening of the trade deficit, resulting
in CAD jumping to $ 21.8 billion to the latest quarter from $ 16.9 billion in
the corresponding quarter of the previous financial year. The government aims
to bring down CAD to 3.7 % or $ 70 billion, in 2013/14, from 4.8 % or $ 88.2
billion in 2012/13.
The finance ministry
has started preparations for Budget 2014/15. With general elections scheduled
to be held by May next year, there will only be an interim budget. The new
government will present the fiscal Budget.
The Supreme Court
has barred clinical trials for new drugs till a monitoring mechanism is put in
place to protect the lives of people on which the drugs are tested.
Mumbai has been
named the world’s second most honest city according to a survey on 15 cities
worldwide by Readers’ Digest magazine. Finnish capital Helsinki bagged the top
spot for the world’s most honest city while Lisbon, the capital of Portugal,
proved to be the least honest. The survey put hundreds of people to test
in four continents to find out just how honest they were by dropping wallets
and seeing how many would be returned.
3.7 % Growth of the
core sector in August, a seven month high. This takes the overall growth in
April-August this year to 2.3 % compared with 6.3 % in the corresponding period
next financial year.
$19 million
Estimated average spending by companies across the globe including India, on
social media this year, according to a global study by information technology
major Tata Consultancy Services. This will rise to $ 24 million in 2015.
Rising inflation,
fewer employment avenues and dwindling earnings are taking a toll on the
spending capacity in India. Over 72 % respondents from middle and lower middle
income families would be forced to slash their Diwali expenditure by 40 % and
on average spend nearly 25 % of their monthly salary on Diwali, according to a
survey by Assochem.
Analysts believe the
shutdown of the US government would have limited impact in sectors such as IT
or tourism that are dependent on Visa clearances.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term = BBB+ |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
October, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term = A3+ |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
|
Date |
October, 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 DECLINED
Management Non-Cooperative (91-22-67742222)
LOCATIONS
|
Registered Office : |
65, Shanti Industrial Estate, |
|
Tel. No.: |
91-22-67742222/ 25907080 |
|
Fax No.: |
91-22-67742222/ 67742399/ 67973894 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned (They have 6 to 7 Galas in same premises) |
|
|
|
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Head Office : |
Plot No.A-39, Road No.11, Wagle Industrial Estate, Thane (West), Thane
- 400 604, Maharashtra, India |
|
Tel. No.: |
91-22-30948000 |
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Fax No.: |
91-22-30948080 |
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E-Mail : |
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Factory : |
Located at:
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Branch Office : |
101, Alpha, |
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Sales Office : |
Located at:
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DIRECTORS
As on 06.09.2013
|
Name : |
Mr. Shailesh Gulabchand Sheth |
|
Designation : |
Managing Director |
|
Address : |
1002, |
|
Date of Birth/Age : |
12.01.1960 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5920R |
|
00206159 |
|
|
|
|
|
Name : |
Mr. Peranamallur Narayanaswamy Devrajan |
|
Designation : |
Director |
|
Address : |
A-1, Ground Floor, Nav Munjal Nagar-2, Chembur, Mumbai – 400 089, |
|
Date of Birth/Age : |
15.02.1935 |
|
Date of Appointment : |
23.07.2011 |
|
DIN No.: |
00003842 |
|
|
|
|
Name : |
Mr. Govind Raghavan Venkatraman |
|
Designation : |
Director |
|
Address : |
Flat No.171/172, 17th Floor, Kalpataru Residency, |
|
Date of Birth/Age : |
16.07.1945 |
|
Date of Appointment : |
23.07.2011 |
|
DIN No.: |
00008683 |
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|
|
|
Name : |
Mr. Viresh Gulabchand Sheth |
|
Designation : |
Director |
|
Address : |
1002, |
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Date of Birth/Age : |
28.08.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5919A |
|
DIN No.: |
00217977 |
|
|
|
|
Name : |
Mr. Rajesh Gulabchand Sheth |
|
Designation : |
Director |
|
Address : |
1002, |
|
Date of Birth/Age : |
23.10.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAZPS8968A |
|
DIN No.: |
00223733 |
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|
|
|
Name : |
Mr. Ravi Chaturvedi |
|
Designation : |
Director |
|
Address : |
750, |
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Date of Birth/Age : |
14.11.1959 |
|
Date of Appointment : |
23.07.2011 |
|
DIN No.: |
02787181 |
KEY EXECUTIVES
|
Name : |
Mr. Balduwa Damodar Sohanlal |
|
Designation : |
Secretary |
|
PAN No.: |
AAYPB0754C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Gulabchand Sheth |
|
2700144 |
|
Rajesh Gulabchand Sheth |
|
1349972 |
|
Viresh Gulabchand Sheth |
|
1349972 |
|
Packaging Destinations Private Limited, |
|
1599970 |
|
Packaging Flexi Business Private Limited, |
|
699988 |
|
Packaging Properties Private Limited, |
|
699988 |
|
Varsha Shailesh Sheth |
|
799982 |
|
Aarti Rajesh Sheth |
|
399992 |
|
Tina Viresh Sheth |
|
399992 |
|
Total
|
|
10000000 |
As on 06.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
30.00 |
|
Directors or relatives of Directors |
70.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the manufacturing and selling of high quality of Packaging Products
like Shrink Sleeves, Laminates, Polly Rolls, Garment Bags, Pick up Bags and
Digital Printed Products. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
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Bankers : |
· The Saraswat Co-operative Bank Limited, Thane Nagar Vachnalay Mandir Building, Tembhinaka, Thane – 400 602, Maharashtra, India · The Saraswat Co-Operative Bank Limited, Mulund Branch, Mulund, Mumbai – 400 080, Maharashtra, India
|
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Facilities : |
(Rs.
In Millions)
|
|
|
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|
Banking
Relations : |
--- |
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|
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Auditors : |
|
|
Name : |
K.A. Gandhi and Associates Chartered Accountants |
|
Address : |
14-B, Vaibhav, 1st Floor, Corner of |
|
Tel. No.: |
91-22-25675205/ 25686061 |
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Fax No.: |
91-22-25686061 |
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PAN No.: |
AAJFK1030F |
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Joint venture : |
KRIS Automated Packaging Systems Private Limited |
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Enterprises over
which significant influence by : |
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CAPITAL STRUCTURE
As on 06.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
Total
|
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
664.677 |
610.149 |
575.874 |
|
(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) |
764.677 |
710.149 |
675.874 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
215.053 |
165.499 |
234.269 |
|
(b) Deferred tax liabilities (Net) |
33.004 |
33.201 |
24.980 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.383 |
5.551 |
3.330 |
|
Total Non-current
Liabilities (3) |
254.440 |
204.251 |
262.579 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
643.482 |
660.127 |
542.024 |
|
(b) Trade
payables |
365.367 |
217.589 |
136.908 |
|
(c) Other
current liabilities |
175.764 |
188.849 |
200.151 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
1.819 |
|
Total Current
Liabilities (4) |
1184.613 |
1066.565 |
880.902 |
|
|
|
|
|
|
TOTAL |
2203.730 |
1980.965 |
1819.355 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
619.726 |
674.571 |
685.030 |
|
(ii)
Intangible Assets |
0.855 |
1.413 |
1.710 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
6.384 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
19.072 |
12.474 |
7.473 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
74.444 |
76.194 |
75.295 |
|
(e) Other
Non-current assets |
13.965 |
6.166 |
8.292 |
|
Total Non-Current
Assets |
728.062 |
770.818 |
784.184 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
586.065 |
386.440 |
309.878 |
|
(c) Trade
receivables |
685.104 |
665.761 |
567.836 |
|
(d) Cash
and cash equivalents |
26.302 |
16.826 |
23.821 |
|
(e)
Short-term loans and advances |
104.956 |
92.490 |
86.276 |
|
(f) Other
current assets |
73.241 |
48.630 |
47.360 |
|
Total
Current Assets |
1475.668 |
1210.147 |
1035.171 |
|
|
|
|
|
|
TOTAL |
2203.730 |
1980.965 |
1819.355 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2425.000 |
2401.500 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2441.400 |
2425.000 |
2401.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
2095.900 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2383.200 |
2370.700 |
2095.900 |
|
|
|
(Including
Financial and Depreciation Expenses ) |
(Including
Financial and Depreciation Expenses ) |
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
305.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
73.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
232.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
56.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
58.200 |
54.300 |
175.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.700 |
19.100 |
41.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
54.500 |
35.200 |
134.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
457.900 |
422.700 |
300.400 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Equity Shares |
0.000 |
0.000 |
10.000 |
|
|
|
Corporate Tax on Dividend |
0.000 |
0.000 |
1.700 |
|
|
BALANCE CARRIED
TO THE B/S |
512.400 |
457.900 |
423.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
5.45 |
3.52 |
13.49 |
|
|
|
- Diluted |
3.64 |
2.35 |
8.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.23
|
1.45 |
5.62
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.66
|
2.76 |
9.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.08 |
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.56
|
0.47 |
0.69
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.13 |
1.18
|
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
86.747 |
89.623 |
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 |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
CORPORATE
INFORMATION:
Subject is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacturing and selling a reputed brand of high quality of packaging products like shrink sleeves, laminates, Polly Rolls, garment bags, pick up bags and digital printed products. It caters to both domestic and international markets.
REVIEW OF OPERATIONAL
PERFORMANCE:
During the Financial Year the Company took the strategic business decision to discontinue the low profitability business of Polybags, despite its healthy contribution to the top line Instead, the Company has introduced the new product lines of wrap around labels, laminated packaging options and Specialty flexible packaging, with a view to expand its product range and to deliver higher profitability volume growth.
In spite of these strategic business decisions, the Company has managed to achieve turnover of Rs 2441.400 Millions as compared to Rs 2425.000 Millions of last year with growth of 0.67%. In view of overall economic slowdown and increasing input cost/ interest cost and constant pressure on margins, the Company has managed to increase profit after tax to Rs 54.500 Millions as compared to Rs. 35.200 Millions of last year with growth of 54.83% through efficient cost management and wastage control.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Bonds/debentures |
50.000 |
50.000 |
|
Short-term borrowings |
|
|
|
Loans repayable on demand |
0.050 |
0.050 |
|
Total |
50.050 |
50.050 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10423922 |
30/03/2013 |
50,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
B74492265 |
|
2 |
10344573 |
22/03/2012 |
30,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
B35895549 |
|
3 |
10265224 |
30/03/2013 * |
226,800,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
B74492752 |
|
4 |
10197457 |
06/01/2010 |
10,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
A77710473 |
|
5 |
10174767 |
20/08/2009 |
5,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
A69193639 |
|
6 |
10157171 |
15/05/2009 |
52,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A62182183 |
|
7 |
10100965 |
13/10/2011 * |
960,000,000.00 |
STATE BANK OF INDIA AND 4 OTHER BANKS |
COMMERCIAL BRANCH, N. G. N. VAIDYA MARG, FORT, MU |
B26621425 |
|
8 |
10099392 |
24/03/2008 |
3,000,000.00 |
GENERAL MANAGER DISTRICT INDUSTRIES CENTRE |
DISTRICT INDUSTRIES CENTRE, SOLAN, HIMACHAL PRADESH - 173213, INDIA |
A36995314 |
|
9 |
10168428 |
05/03/2008 |
10,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A49151517 |
|
10 |
10089478 |
21/01/2008 |
120,150,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A33209644 |
|
11 |
10089075 |
18/01/2008 |
50,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A33052069 |
|
12 |
10080238 |
12/12/2007 |
18,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A28868529 |
|
13 |
10087872 |
26/10/2007 |
31,669,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A32540239 |
|
14 |
10072382 |
28/09/2007 |
1,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A25481557 |
|
15 |
10080239 |
01/09/2007 |
663,360,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A28868917 |
|
16 |
10080279 |
13/02/2012 * |
792,639,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
B34183442 |
|
17 |
10068095 |
14/08/2007 |
12,100,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A23499429 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Freehold Land
- Leasehold Land
- Buildings
- Factory Equipments
- Plant and Machinery
- Office Equipments
- Vehicles (including Motor Car)
- Furniture and Fitting
- Computer
- Electrical Fittings
- Dies and Mould
Intangible Assets
- Software–ERP
- Trade Mark
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.61.49 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
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 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.