MIRA INFORM REPORT
|
Report Date : |
04.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
PARAGON POLYMER PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
27.07.1990 |
|
|
|
|
Com. Reg. No.: |
09-005761 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134KL1990PTC005761 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
TVDP00372B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP3052F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Footwear. |
|
|
|
|
No. of Employees
: |
Not Available |
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 2100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exists |
|
|
|
|
Comments : |
Subject is a part of Paragon Group. It is a having satisfactory track
record. External borrowing of the company has increased in 2012. Profit margin
of the company appears to be low. Rating also takes into consideration
support from its associates company. Trade relations are fair. Business is active. Payment terms are
usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES :
Any query related to this report can be made on
e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
We are living in a world
where volatility and uncertainty have become the New Normal. We saw a
change of government in countries like Tunisia, Egypt, Libya and Vietnam. Once
powerful countries in Europe are now fighting for bankruptcy. We have
taken growth in the developing part of the world for granted but economic
growth in China and India has begun to slow. Companies that were synonymous
with their product categories just a few years ago are now no longer in
existence. Kodak, the inventor of the digital camera had to wind up its
operations, HMV, the British entertainment retailing company and Borders, once
the second largest bookstore have shut down due to their inability to evolve
their business models with the changing time. Readers’ Digest, Thomson Register
are no more !
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took Britain more than 100 years
to double its economic output per person during its industrial revolution and the
US later took more than 50 years to do the same. More than a century later,
China and India have doubled their GDP per capital in 12 and 18 years
respectively. By 2020, emerging Asia will become the world’s largest consuming
block, overtaking North America.
The years after the
outbreak of the global financial crisis, the world economy continues to remain
fragile. The Indian economy demonstrated remarkable resilience in the initial years
of the contagion but finally lost ground last year. GDP growth slowed down.
Currency has been weakening. There is a marked deceleration in agriculture,
industry and services. Dampening sentiment led to a cut-back in investment as
well as private consumption expenditure. Inflation remained at high
levels fuelled by the pressure from the food and fuel sectors. The large fiscal
and current account deficit s continued to cause grave concern. It is
imperative that India regains its growth trajectory of 8-9 % sooner than later.
This is crucially important given the need to create gainful livelihood
opportunities for the millions living in poverty as also the large contingent
of young people joining the job market every year.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
BBB+ (Term Loan) |
|
Rating Explanation |
Moderate credit quality and average credit risk. |
|
Date |
May 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3+ (Letter of Credit Facilities) |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
May 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.
LOCATIONS
|
Registered Office / Head Office
: |
|
|
Tel. No.: |
91-481-2568812/2568813/2564893/2562643/2564788 |
|
Fax No.: |
91-481-2564819 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Joseph Koduvirachira Thomas |
|
Designation : |
Managing Director |
|
Address : |
Koduvirachira, Malloosserry P O, Kottayam-688041, Kerala, India |
|
Date of Birth/Age : |
16.05.1949 |
|
Date of Appointment : |
27.07.1990 |
|
DIN No.: |
00318521 |
|
PAN No.: |
ABIPT9849H |
|
|
|
|
Name : |
Mr. Reji Abraham |
|
Designation : |
Director |
|
Address : |
Murattupoovathinkal, Muttambalam P O, Kottayam-686004, Kerala, India |
|
Date of Birth/Age : |
12.03.1955 |
|
Date of Appointment : |
22.12.1993 |
|
DIN No.: |
00418423 |
|
PAN No.: |
ACDPA9125F |
|
|
|
|
Name : |
Mr. Sajan Rachira Koduvi Thomas |
|
Designation : |
Director |
|
Address : |
Koduvi Rachira, Puthenangady, Kottayam-686001, Kerala, India |
|
Date of Birth/Age : |
08.11.1958 |
|
Date of Appointment : |
27.07.1990 |
|
DIN No.: |
00322126 |
|
PAN No.: |
ABTPT6837G |
|
|
|
|
Name : |
Mr. Reji Rachira Koduvi Joseph |
|
Designation : |
Director |
|
Address : |
Koduvi Rachira, Aiswarya Road, Kottayam-686004, Kerala, India |
|
Date of Birth/Age : |
06.05.1957 |
|
Date of Appointment : |
01.10.1999 |
|
DIN No.: |
00418455 |
|
PAN No.: |
ACBPJ0101A |
|
|
|
|
Name : |
Mr. Thomas Koduvirachira Thomas |
|
Designation : |
Director |
|
Address : |
No.12, 1st Main Defence Colony, Indiranagar, Bangalore - 560038, Karnataka, India |
|
Date of Birth/Age : |
17.09.1953 |
|
Date of Appointment : |
22.12.1993 |
|
DIN No.: |
00467883 |
|
PAN No.: |
ABIPT9868N |
|
|
|
|
Name : |
Mani Rachira Koduvi Thomas |
|
Designation : |
Director |
|
Address : |
No. 1, Lakeview Defence Colony, Shettihalli, Bangalore-560015, Karnataka, India |
|
Date of Birth/Age : |
26.11.1951 |
|
Date of Appointment : |
27.04.2010 |
|
DIN No.: |
00052008 |
|
PAN No.: |
ABIPT9848G |
|
|
|
|
Name : |
Mr. Abraham Mathew |
|
Designation : |
Director |
|
Address : |
Murattupoovathinkal, Pattukalathil, Kottayam-686004, Kerala, India |
|
Date of Birth/Age : |
21.03.1943 |
|
Date of Appointment : |
27.04.2010 |
|
DIN No.: |
00322208 |
|
PAN No.: |
ADMPM8504C |
|
|
|
|
Name : |
Mr. Joseph Zachariah |
|
Designation : |
Director |
|
Address : |
# 108 Shanthi Layout, Shettihalli, Bangalore-560015, Karnataka, India |
|
Date of Birth/Age : |
01.01.1960 |
|
Date of Appointment : |
27.04.2010 |
|
DIN No.: |
00051866 |
|
PAN No.: |
AAAPZ4512C |
|
|
|
|
Name : |
Mr. Vijoo Zachariah |
|
Designation : |
Director |
|
Address : |
No. 43, 4th Cross 1st Block, Dollers Colony, Ashwath Nagar, Bangalore - 560094, Karnataka. India |
|
Date of Birth/Age : |
30.10.1963 |
|
Date of Appointment : |
27.04.2010 |
|
DIN No.: |
00053037 |
|
PAN No.: |
AADPZ4880A |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Joseph K Thomas |
|
105000 |
|
Sajan K. Thomas |
|
105000 |
|
Rejl Abraham |
|
75000 |
|
K. T. Thomas |
|
75000 |
|
Reji.K.Joseph |
|
100000 |
|
Mani K. Thomas |
|
65000 |
|
Abraham Mathew |
|
100000 |
|
Joseph Zacharlah |
|
100000 |
|
Vljoo Zacharia |
|
100000 |
|
Annamma Scaria |
|
25000 |
|
Mithun Abraham
Joseph |
|
50000 |
|
Navln Thomas |
|
30000 |
|
Koshy Thomas |
|
30000 |
|
Thomas Mani |
|
40000 |
|
Total |
|
1000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Footwear. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (31.03.2011)
Licensed Capacity: Not Available
Installed Capacity
|
Particular |
Quantity
(Pairs) |
|
At |
46800 / Day |
|
At |
50000 / Day |
|
At Kottayam (Including job work) |
11700 / Day |
|
Ato Kolkatta |
4600 / Day |
Note: Installed Capacity is as certified by Managing director on which
reliance is placed by the Auditors.
Actual Production
|
Particulars |
Quantity
(Pairs) |
|
Production |
56523257 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Varma and Varma Chartered Accountants |
|
Address : |
Nettipadam Road, Ernakulam, Kerala, India |
|
PAN No.: |
AAEFK0880A |
|
|
|
|
Auditors 2 : |
|
|
Name : |
K. Venkatachalam Aiyer and Company Chartered Accountants |
|
Address : |
Building No. 41 / 3647 B, 1st Floor, Blue Bird Towers,
Providence Road, Kochi - 6820188, Kerala, India |
|
PAN No.: |
AAEFK0880A |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
CIN No.: U01920KA2000PTC026834
|
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.100/- each |
Rs.100.000 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 |
|
100.000 |
100.000 |
|
(b) Reserves & Surplus |
|
436.359 |
416.407 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
536.359 |
516.407 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
430.595 |
367.865 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
3.418 |
2.337 |
|
Total Non-current
Liabilities (3) |
|
434.013 |
370.202 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1091.646 |
687.812 |
|
(b) Trade
payables |
|
323.209 |
316.924 |
|
(c) Other
current liabilities |
|
133.967 |
74.396 |
|
(d) Short-term
provisions |
|
3.066 |
1.125 |
|
Total Current
Liabilities (4) |
|
1551.888 |
1080.257 |
|
|
|
|
|
|
TOTAL |
|
2522.260 |
1966.866 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
801.202 |
585.804 |
|
(ii)
Intangible Assets |
|
26.384 |
36.279 |
|
(iii)
Capital work-in-progress |
|
63.414 |
77.265 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
66.269 |
67.408 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
957.269 |
766.756 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1136.760 |
987.986 |
|
(c) Trade
receivables |
|
187.928 |
140.647 |
|
(d) Cash
and cash equivalents |
|
184.666 |
30.555 |
|
(e)
Short-term loans and advances |
|
55.186 |
40.802 |
|
(f) Other
current assets |
|
0.451 |
0.120 |
|
Total
Current Assets |
|
1564.991 |
1200.110 |
|
|
|
|
|
|
TOTAL |
|
2522.260 |
1966.866 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
100.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
480.034 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
580.034 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
63.181 |
|
|
2] Unsecured Loans |
|
|
386.685 |
|
|
TOTAL BORROWING |
|
|
449.866 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.221 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1030.121 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
432.053 |
|
|
Capital work-in-progress |
|
|
45.615 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
686.151
|
|
|
Sundry Debtors |
|
|
157.221
|
|
|
Cash & Bank Balances |
|
|
87.890
|
|
|
Other Current Assets |
|
|
0.135
|
|
|
Loans & Advances |
|
|
64.371
|
|
Total
Current Assets |
|
|
995.768 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
179.947
|
|
|
Other Current Liabilities |
|
|
229.924
|
|
|
Provisions |
|
|
33.444
|
|
Total
Current Liabilities |
|
|
443.315 |
|
|
Net Current Assets |
|
|
552.453
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1030.121 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4037.791 |
2872.174 |
2562.072 |
|
|
|
Other Income |
|
|
19.265 |
|
|
|
TOTAL (A) |
4037.791 |
2872.174 |
2581.337 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw material consumed |
|
2769.270 |
1513.595 |
|
|
|
Packing material consumed |
|
|
128.603 |
|
|
|
Purchase of intermediary/ finished goods |
|
|
26.567 |
|
|
|
Manufacturing expense |
|
|
351.459 |
|
|
|
Administrative and other expenses |
|
|
95.622 |
|
|
|
Selling and distribution expenses |
|
|
141.075 |
|
|
|
Stock differential |
|
|
(174.546) |
|
|
|
TOTAL (B) |
3738.146 |
2769.270 |
2082.375 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
299.645 |
102.904 |
498.962 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
149.363 |
81.072 |
41.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
150.282 |
21.832 |
457.587 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
125.550 |
87.209 |
57.433 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
24.732 |
(65.377) |
400.154 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.780 |
(1.750) |
141.285 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
19.952 |
(63.627) |
258.869 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
378.629 |
442.256 |
183.387 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
398.581 |
378.629 |
442.256 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
8.016 |
NA |
4.803 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
19.952 |
(63.63) |
368.90 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.49
|
(2.22) |
10.03
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
15.62
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.01
|
(3.46) |
28.03
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
(0.13) |
0.69
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.84
|
2.04 |
0.78
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.01
|
1.11 |
2.45
|
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 |
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 |
Yes |
|
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 |
Profile
|
Client Industry |
Rubber |
|
Client's
discipline |
-- |
General
|
The growth of
the client's industry is best described as: |
Growing |
|
Brief description
of the services and/or goods the client provides to the marketplace: |
Manufacturer of Footwear. |
|
What is the
legal structure of the client? |
Subsidiary of a
parent co |
|
What type of
company is the client? |
Private |
Credit Rating
|
Client's debt
tracked by a credit rating agency? |
Yes |
|
Name of credit
rating agency: |
ICRA |
|
Credit rating
class provided by credit rating agency: |
Investment Grade |
|
Client credit
rating: |
BBB+ / A3+ |
|
Report on credit
worthiness of client purchased from: |
Not obtained |
Client Financials
|
Does the client
have a credit facility? |
Yes |
|
Do you have
financial information on this client? |
Yes |
|
Credit facility
type: |
Secured/Unsecured |
|
Amount of credit
facility: |
Secured :Rs. 1092.420 Millions Unsecured :Rs. 429.821 Millions |
|
Currency of
financial statements/data: |
INR Millions |
|
Annualized
revenues: |
Rs. 4037.791
Millions (Total Income) |
|
Annualized COGS: |
NA |
|
Annualized
EBITDA: |
Rs. 299.645
Millions |
|
Annualized net
income: |
Rs. 24.732 Millions |
|
Cash balance: |
Rs.1.216
Millions |
|
Marketable
Securities balance: |
-- |
|
Accounts
Receivable balance: |
Rs. 187.928
Millions |
|
Current Assets
balance: |
Rs. 1564.991 Millions |
|
Total assets
balance: |
Rs. 2522.260 Millions |
|
Current
Liabilities balance: |
Rs. 1551.888 Millions |
|
Long-Term Debt
balance: |
Rs. 430.595 Millions |
|
Equity balance: |
Rs. 536.359 Millions |
|
Net cash
provided by operating activities: |
Rs.107.302
Millions |
|
Date of client's
financial data populated: |
31.03.2012 |
|
Financial
information provided above audited? |
Yes |
LITIGATION
DETAILS:
KERALA HIGH COURT
CASE STATUS INFORMATION SYSTEM
Case Status
: PENDING
Status of INCOME TAX APPEAL 100 of 2012
COMMISSIONER OF INCOME TAX, KOTTAYAM Vs. THE PARAGON POLYMER PRODUCTS PVT.LTD
Pet's Adv. : SRI.JOSE JOSEPH, SC, FOR
Res's Adv.
:
Last Listed On : Monday, December 10, 2012
Category : INCOME TAX APPEAL
|
CONNECTED APPLICATION (S) CMAP 384 of 2012 |
CONNECTED MATTER (S) |
Case Updated on: Monday, December 10, 2012
UNSECURED LOAN:
(Rs.
in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred payment liabilities |
96.415 |
77.112 |
|
Loans and advances from directors |
140.100 |
140.100 |
|
Loans and advances from others |
25.750 |
25.750 |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advances from directors |
141.094 |
142.180 |
|
Loans and advances from others |
26.462 |
30.558 |
|
Total |
429.821 |
415.700 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10432242 |
28/05/2013 |
45,600,000.00 |
BANK OF BARODA |
BAKER JUNCTION, KOTTAYAM, KOTTAYAM, Kerala - 686001, INDIA |
B77583243 |
|
2 |
10339708 |
30/03/2012 * |
59,600,000.00 |
BANK OF BARODA |
BAKER JUNCTION, KOTTAYAM, KOTTAYAM, Kerala - 686001, INDIA |
B37568334 |
|
3 |
10263894 |
05/04/2011 * |
40,000,000.00 |
AXIS BANK LIMITED |
GROUND FLOOR, CENTURY TOWERS, NEAR Y.W.C.A, M.C. ROAD, KOTTAYAM, Kerala - 686001, INDIA |
B11561446 |
|
4 |
10263900 |
19/01/2012 * |
200,000,000.00 |
AXIS BANK LIMITED |
GROUND FLOOR, CENTURY TOWERS, NEAR Y.W.C.A, M.C. ROAD, KOTTAYAM, Kerala - 686001, INDIA |
B31650674 |
|
5 |
10155481 |
28/05/2013 * |
375,000,000.00 |
BANK OF BARODA |
BAKER JUNCTION, KOTTAYAM, KOTTAYAM, Kerala - 686001, INDIA |
B77583953 |
|
6 |
90018165 |
26/03/2013 * |
1,073,600,000.00 |
THE SOUTH INDIAN BANK LIMITED |
KANJIKUZHY BRANCH, MUTTAMBALAM P O, KOTTAYAM, Kerala - 686001, INDIA |
B75605857 |
* Date of charge modification
FIXED ASSETS:
- Land
- Buildings
- Furniture and
Fixtures
- Plant and Machinery
- Electrical
Installations
- Office
Equipments
- Vehicles
- Lab
Equipments
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.66.89 |
|
|
1 |
Rs.103.95 |
|
Euro |
1 |
Rs.88.10 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
YES |
|
--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 |
|
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.