MIRA INFORM REPORT
|
Report Date : |
14.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHREE RAMA NEWSPRINT LIMITED (w.e.f. 18.06.2013) |
|
|
|
|
Formerly Known
As : |
RAMA NEWSPRINT AND PAPERS LIMITED |
|
|
|
|
Registered
Office : |
Village Barbodhan, Taluka Olpad, |
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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 : |
10.07.1991 |
|
|
|
|
Com. Reg. No.: |
04-019432 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.581.580 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L21010GJ1991PLC019432 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR05789A/ SRTR00039E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR2499H |
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|
|
|
Legal Form : |
Private Limited Liability Company. The Company’s Shares are Listed on
the Sock Exchanges. |
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|
|
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Line of Business
: |
Manufacturing of Newsprint, Writing and Printing Papers. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2114000 |
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|
|
|
Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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|
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. There
appear some accumulated losses recorded by the company. The external
borrowing seems to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings 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) |
|
|
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
There is another
megatrend happening. The World order is changing as economic power shifts from
West to East. According to McKinsey study, it took
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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans: C |
|
Rating Explanation |
Very high risk of default. |
|
Date |
March, 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
Fund based limit: C |
|
Rating Explanation |
Very high risk of default. |
|
Date |
March, 2011 |
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 : |
Barbodhan, Taluka Olpad, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
181-B, Maker
Tower "E", Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
Tel. No.: |
91-22-22183791 |
|
Fax No.: |
91-22-22180136/
2188406 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
|
|
Tel. No.: |
91-22-22821025/ 1014/ 1048 |
|
Fax No.: |
91-22-22821083 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Shree Kumar Bangur |
|
Designation : |
Chairman Cum Managing Director |
|
Date of Birth/Age : |
16.11.1949 |
|
Qualification : |
B.Com |
|
Experience : |
An industrialist of
repute with extensive experience of paper industry and general management of
Corporate and Industrial affairs. He is also past president of Indian Paper
Manufacturers Association. He is also a Committee Member of Federation of
Indian Chamber of Commerce and Industry (FICCI), Indian Chamber of Commerce
and Bharat Chamber of Commerce. |
|
|
|
|
Name : |
Mr. Virendraa Bangur |
|
Designation : |
Vice Charman |
|
|
|
|
Name : |
Mr. K.L. Chandak |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Lt. Gen (Retired) Ashok Kapur |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
13.05.1947 |
|
Qualification : |
Completed
10th, joined |
|
Experience : |
Lt. Gen. (Retd.)
Ashok Kapur has a vast administrative experience having successfully
performed various assignments in the Indian Army. At the time of his
retirement from the Indian Army he was Chief of Staff, Southern Command,
Pune. Post retirement he was Director General of operations and
administration of Military World Games and Additional Director General,
Common Wealth Youth Games in Pune. |
|
|
|
|
Name : |
Mr. Janak Mehta |
|
Designation : |
Independent Director |
|
Date of Appointment : |
26.10.1963 |
|
|
Commerce Graduate |
|
|
Mr. Janak Mehta is
the Promoter and President of M/s. LKP Securities Ltd. He has attended
various executive programmers at |
|
|
|
|
Name : |
Mr. Narayan Atal |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. P.S. Maharaj |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Girish Sharma |
|
Designation : |
Sr. Vice President (F & A) & Company Secretary |
MAJOR SHAREHOLDERS
AS ON 30.06.2013
|
Category of Shareholders |
No. of Shares |
Percentage of
Holdings |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
1711535 |
2.94 |
|
|
26872577 |
46.21 |
|
|
28584112 |
49.15 |
|
|
|
|
|
|
246839 |
0.42 |
|
|
564850 |
0.97 |
|
|
811689 |
1.40 |
|
Total shareholding of Promoter and Promoter Group (A) |
29395801 |
50.54 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
58325 |
0.10 |
|
|
21800 |
0.04 |
|
|
60725 |
0.10 |
|
|
12300 |
0.02 |
|
|
12300 |
0.02 |
|
|
153150 |
0.26 |
|
|
|
|
|
|
4999803 |
8.60 |
|
|
|
|
|
|
18201181 |
31.30 |
|
|
3883074 |
6.68 |
|
|
1525023 |
2.62 |
|
|
1202951 |
2.07 |
|
|
650 |
0.00 |
|
|
325 |
0.00 |
|
|
200 |
0.00 |
|
|
550 |
0.00 |
|
|
320347 |
0.55 |
|
|
28609081 |
49.19 |
|
Total Public shareholding (B) |
28762231 |
49.46 |
|
Total (A)+(B) |
58158032 |
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) |
58158032 |
00.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Newsprint, Writing and Printing Papers. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Bank of ·
Oriental Bank of Commerce ·
Central Bank of ·
Axis Bank Limited ·
ICICI Bank Limited |
|||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
Note : LONG TERM
BORROWING : The Term Loans and Working Capital Term Loan are secured by first
charge ranking pari passu on all immovable properties of the company, both present and future and hypothecation
of all Company’s movable machinery, spares, tools and accessories, present
and future, subject to prior charges created on Company’s stock of raw
materials, stock in process, finished goods, comsumable stores etc. in favour of the Company’s Bankers
for securing borrowings for working capital requirements, and Corporate
guarantee by The West Coast Paper Mills Limited.
SHORT TERM
BORROWING : Cash Credit (repayable on demand) is secured by hypothecation of the
Company’s stock of finished goods, stock in process, raw materials, stores
and spares, book debts etc. and by a second charge created on all immovable
properties of the company, present and
future. |
|
Banking
Relations : |
-- |
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
|
|
|
Advocates and
Solicitors : |
|
|
Name : |
Khaitan and Company |
|
Address : |
Mumbai, |
|
|
|
|
Other Related
Party : |
The West Coast Paper Mills Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
203000000 |
Equity Shares |
Rs.10/- each |
Rs.2030.000 Millions |
|
3000000 |
Preference Shares |
Rs.100/- each |
Rs.300.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.2330.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
58158032 |
Equity Shares |
Rs.10/- each |
Rs.581.580 Millions |
|
|
|
|
|
a)
Reconciliation of Shares Outstanding during the year
No Shares have been issued or bought back
during the current and previous year.
b) Terms/Rights attached to Equity Shares
The Company has only one class of equity
shares having a par value of Rs.10 per share. Each holder of equity share is
entitled to one vote per share.
In the event of liquidation of the company,
the holders of equity shares will be entitled to receive remaining assets of
the company, after distribution of all preferential amounts. The distribution
will be in proportion to number of equity shares held by shareholders.
c)
Shareholder holding more than 5% of shares
|
Name
of Shareholder |
As at 31 March 2013 |
|
|
|
No. of Shares held |
% of Holding |
|
|
|
|
|
West Coast Paper Mills Limited |
21124791 |
36.32 |
d)
Aggregate number of bonus shares issued, shares issued for consideration
other than cash and shares bought back during the period of five years
immediately preceding the reporting date
During the period of preceding five years the
company has not:
-
allotted any shares without payment being received in cash,
-
allotted any shares by way of bonus shares and
-
bought back any shares.
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 |
581.580 |
581.580 |
581.580 |
|
(b) Reserves & Surplus |
(53.007) |
513.891 |
229.773 |
|
(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) |
528.573 |
1095.471 |
811.353 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1766.659 |
1715.936 |
1402.114 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
12.487 |
13.937 |
15.837 |
|
(d) long-term
provisions |
30.004 |
23.035 |
18.902 |
|
Total Non-current
Liabilities (3) |
1809.150 |
1752.908 |
1436.853 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1077.670 |
1002.143 |
889.758 |
|
(b) Trade
payables |
1178.861 |
1083.562 |
880.637 |
|
(c) Other
current liabilities |
510.658 |
302.878 |
326.814 |
|
(d) Short-term
provisions |
8.266 |
10.901 |
20.350 |
|
Total Current
Liabilities (4) |
2775.455 |
2399.484 |
2117.559 |
|
|
|
|
|
|
TOTAL |
5113.178 |
5247.863 |
4365.765 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
2382.951 |
2727.646 |
3082.651 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
52.183 |
42.105 |
17.714 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.163 |
0.163 |
0.163 |
|
(c) Deferred tax assets (net) |
1340.917 |
1110.348 |
0.000 |
|
(d) Long-term Loan and Advances |
47.066 |
54.537 |
50.698 |
|
(e) Other
Non-current assets |
0.000 |
51.521 |
0.000 |
|
Total Non-Current
Assets |
3823.280 |
3986.320 |
3151.226 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
550.964 |
496.119 |
371.312 |
|
(c) Trade
receivables |
420.329 |
453.476 |
543.788 |
|
(d) Cash
and cash equivalents |
14.314 |
12.058 |
12.793 |
|
(e)
Short-term loans and advances |
298.443 |
288.216 |
277.007 |
|
(f) Other
current assets |
5.848 |
11.674 |
9.639 |
|
Total
Current Assets |
1289.898 |
1261.543 |
1214.539 |
|
|
|
|
|
|
TOTAL |
51113.178 |
5247.863 |
4365.765 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3828.345 |
3508.862 |
3203.209 |
|
|
|
Other Income |
9.112 |
38.780 |
4.424 |
|
|
|
TOTAL (A) |
3837.457 |
3547.642 |
3207.633 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2392.284 |
2267.051 |
2064.356 |
|
|
|
Changes in Inventories of Finished Goods and Work-in-Progress |
27.258 |
(74.254) |
206.029 |
|
|
|
Employees Benefits Expenses |
163.330 |
142.801 |
148.818 |
|
|
|
Exchange Fluctuation (Net) |
6.003 |
46.680 |
(19.576) |
|
|
|
Other Expenses |
1212.238 |
1120.436 |
872.192 |
|
|
|
Extraordinary Items |
0.000 |
(1176.548) |
0.000 |
|
|
|
TOTAL (B) |
3801.113 |
2326.166 |
3271.819 |
|
|
|
|
2326.166 |
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
36.344 |
1221.476 |
(64.186) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
486.545 |
524.602 |
373.372 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(450.201) |
696.874 |
(437.558) |
|
|
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/AMORTISATION (F) |
347.266 |
346.556 |
348.514 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
(797.467) |
350.318 |
(786.072) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(230.569) |
(270.962) |
(616.820) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER
TAX (G-H) (I) |
(566.898) |
621.280 |
(1402.892) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
On F.O.B. Basis |
27.578 |
60.461 |
60.540 |
|
|
TOTAL EARNINGS |
27.578 |
60.461 |
60.540 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Chemicals |
660.731 |
564.662 |
336.699 |
|
|
|
Spares and Others |
30.256 |
52.464 |
32.274 |
|
|
TOTAL IMPORTS |
690.987 |
617.126 |
368.973 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
– Basic and Diluted before Extraordinary item |
(9.75) |
(9.55) |
(24.12) |
|
|
|
– Basic and Diluted after Extraordinary items |
(9.75) |
10.68 |
(24.12) |
|
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 (1st
Quarter) |
|
Net Sales |
9826.000 |
|
Total Expenditure |
9849.000 |
|
PBIDT (Excl OI) |
(022.000) |
|
Other Income |
003.000 |
|
Operating Profit |
(019.000) |
|
Interest |
1123.000 |
|
Exceptional Items |
0.000 |
|
PBDT |
(1142.000) |
|
Depreciation |
870.000 |
|
Profit Before Tax |
2012.000 |
|
Tax |
0.000 |
|
Provisions and contingencies |
0.000 |
|
Profit After Tax |
(2012.000) |
|
Extraordinary Items |
0.000 |
|
Prior Period Expenses |
0.000 |
|
Other Adjustments |
0.000 |
|
Net Profit |
(2012.000) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(14.77)
|
17.51 |
(43.74) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(20.83)
|
9.98 |
(24.54) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(21.71)
|
8.78 |
(18.29) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(1.51)
|
0.32 |
(0.97) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.38
|
2.48 |
2.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.46
|
0.53 |
0.57 |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
PERFORMANCE DURING
2012-13
During the year the Company improved its capacity utilization to 90% as
against 88% during the year 2011-12. The sales volume also improved by about 5%
over the previous year. However, there was no significant improvement in the
profitability. The market scenario of Newsprint continued to remain sluggish
during the year. In order to reduce its dependence on Newsprint, the Company
has decided to produce some quantity of Writing and Printing grades of paper
from time to time.
With a view to improve the operating efficiency, the Company has taken
up certain Capex projects of about Rs.200.000 Millions. It would not only help
improve the efficiency of the plant and quality of the finished product but
will also help reduce the fibre cost. During the year the Company availed new
Term loan of about Rs.500.000 Millions for financing the said Capex projects
and also to reduce the working capital deficit.
To infuse fresh funds, the Company has entered into agreements for sale
of 170 acres of its unused land, subject to requisite approvals. This would
significantly ease the liquidity crunch being faced by the Company.
The year 2013-14 has begun with a positive note with the selling prices
of Newsprint having witnessed a significant increase in April-June 2013
quarter. As a result of the improved liquidity and operating efficiency of the
plant, the Company expects to report a much better performance during 2013-14.
MANAGEMENT
DISCUSSION AND ANALYSIS:
PAPER INDUSTRY
OUTLOOK:
NEWSPRINT
INDUSTRY:
The domestic capacity of Newsprint in
UNSECURED LOANS:
|
Particulars |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
Long Term Borrowings |
|
|
|
Interest free Sales
Tax Loan from Government of Gujarat |
81.390 |
122.085 |
|
Short Term Borrowings |
|
|
|
Loans and Advances |
|
|
|
-From Related Parties |
336.500 |
115.000 |
|
-From Others |
0.000 |
35.000 |
|
Total |
417.890 |
272.085 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10379455 |
28/12/2012 * |
500,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCECIRCLE, ALKAPURI, VADODARA – 390 015, |
B65063059 |
|
2 |
10403370 |
20/01/2012 |
500,000,000.00 |
ICICI BANK LIMITED |
|
B64390065 |
|
3 |
10289902 |
20/01/2012 * |
700,000,000.00 |
ICICI BANK LIMITED |
|
B34366690 |
|
4 |
10289933 |
20/01/2012 * |
900,000,000.00 |
ICICI BANK LIMITED |
|
B34202473 |
|
5 |
10191247 |
08/12/2009 |
450,000,000.00 |
Bank of |
MUMBAI
LARGE CORPORATE BRANCH , 70/80 M G ROAD, |
A75652826 |
|
6 |
90103397 |
11/09/2009 * |
1,550,000,000.00 |
Bank of |
MUMBAI
LARGE CORPORATE BRANCH , 70/80 M G ROAD, |
A70435292 |
|
7 |
80001952 |
05/04/2006 * |
30,000,000.00 |
CENTRAL BANK OF |
CORPORATE
FINANCE BRANCH, M G ROAD FORT, MUMBAI – 400 023, |
- |
|
8 |
90103553 |
05/06/2007 * |
50,000,000.00 |
CENTRAL BANK OF |
|
A16502171 |
|
9 |
90103256 |
09/03/2005 * |
331,997,000.00 |
BANK OF |
MUMBAI
CORPORATE BANKING BRANCH, |
- |
|
10 |
90103491 |
26/03/2009 * |
17,500,000.00 |
ASSET RECONSTRUCTION COMPANY ( |
SHREEPATI
ARCADE, AUGUST KRANTI MARG, NANA CHOWK, MUMBAI – 400 036, |
A62324744 |
* Date
of charge modification.
FIXED ASSETS:
·
Free hold Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipment
·
Vehicles
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 records 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] 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.63.79 |
|
|
1 |
Rs.100.70 |
|
Euro |
1 |
Rs.84.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.