MIRA
INFORM REPORT
|
Report Date : |
18.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHIRIPAL POLY FILMS LIMITED |
|
|
|
|
Registered
Office : |
109/110, Peninsula
Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
31.08.2009 |
|
|
|
|
Com. Reg. No.: |
11-195352 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.19.851 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH2009PLC195352 |
|
|
|
|
IEC No.: |
0810007266 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC7403M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Biaxially Oriented Poly Propylene (BOPP) Films. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1700000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. Even
though the subject was incorporated during August 2009, it has commenced its business
activity during January 2012. It has achieved sizable income from operations
during 2012 but it has incurred loss. There also appears huge external
borrowings. However, networth of the company appears to be good. Trade
relations are fair. Business is active. Payments terms are slow but correct. 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.
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 |
CARE |
|
Rating |
BB (Suspended): Long Term Facility |
|
Rating Explanation |
Inadequate credit quality and high credit
risk. |
|
Date |
October 03, 2012 |
Reason of Suspension: Company has not
furnished information required.
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 (GENERAL DETAILS)
|
Name : |
Mr. Pratik Shah |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9727768078 |
|
Date : |
16.09.2013 |
LOCATIONS
|
Registered Office/ Branch Office : |
109/110,
Peninsula Centre, Dr. S.S. Rao Road, Parel, Mumbai – 400012, Maharashtra,
India |
|
Tel. No.: |
91-22-66604123 |
|
Mobile No.: |
91-9727768078 (Mr. Pratik Shah) |
|
Fax No.: |
91-22-66604123 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office (Correspondence Address) : |
Chiripal House, Shivranjani Cross Roads, Satellite, Ahmedabad –
380015, Gujarat, India |
|
Tel. No.: |
91-79-26734660/ 2/ 3 |
|
Fax No.: |
91-79-26768656 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.14, Vraj Integrated Textile Park, N.H. No.8, Kheda, Ahmedabad –
Baroda Highway, Village Bidaj, Taluka and District Kheda – 397420, Gujarat,
India |
|
Tel. No.: |
91-79-26734660/ 2/ 3 |
|
Fax No.: |
91-79-26768656 |
|
Location : |
Owned |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Jaiprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
10, Nandi Hill Society, |
|
Date of Birth/Age : |
02.11.1959 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00155430 |
|
|
|
|
Name : |
Mr. Jyotiprasad Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
91, Basant Bahar Bunglow, Bopal, Ahmedabad – 380058,
Gujarat, India |
|
Date of Birth/Age : |
21.08.1953 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00155695 |
|
|
|
|
Name : |
Mr. Vedprakash Devkinandan Chiripal |
|
Designation : |
Director |
|
Address : |
11, Nandi Hill Society, Satellite Road, Ahmedabad -
380013, Gujarat, India |
|
Date of Birth/Age : |
21.11.1951 |
|
Date of Appointment : |
31.08.2009 |
|
DIN No.: |
00290454 |
KEY EXECUTIVES
|
Name : |
Mr. Pratik Shah |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jaiprakash Chiripal |
|
132000 |
|
Ved Prakash Chiripal |
|
128000 |
|
Jyotiprasad Chiripal |
|
128000 |
|
Vishal Chiripal |
|
244000 |
|
Deepak Chiripal |
|
244000 |
|
Rajesh Bindal |
|
2000 |
|
Amit Bindal |
|
2000 |
|
Brijmohan D. Chiripal |
|
100000 |
|
Priyanka B. Agarwal |
|
120000 |
|
Manjudevi J. Chiripal |
|
500000 |
|
Nidhi J. Agarwal |
|
150000 |
|
Ruchi B. Agarwal |
|
130000 |
|
Ronak B. Agarwal |
|
200000 |
|
Pritidevi B. Chiripal |
|
200000 |
|
Urmiladevi J. Agarwal |
|
240000 |
|
Savitridevi V. Chiripal |
|
240000 |
|
Vineeta V. Chiripal |
|
170000 |
|
Nitika D. Chiripal |
|
170000 |
|
Desert Diamond General Trading LLC, U.A.E. |
|
25954 |
|
Neelam Sharma |
|
26924 |
|
Shyamsunder Sharma |
|
8342 |
|
Bhushan Petrofils Private Limited, |
|
70000 |
|
Shanti Educational Initiatives Limited, |
|
11000 |
|
Chiripal Textile Mills Private Limited, |
|
60000 |
|
Dindayal Processors Private Limited, |
|
70000 |
|
Sparow Exports Private Limited, |
|
140000 |
|
Vijay Subham Contrade Private Limited, |
|
2000 |
|
Prakash Calender Private Limited, |
|
60000 |
|
Orange Mauritius Investment Limited, |
|
396000 |
|
|
|
|
|
Total |
|
3970220 |
As on: 24.12.2012
|
Names of Allottee |
|
No. of Shares |
|
Opulence Investment Limited, Mauritius |
|
212760 |
|
|
|
|
|
Total |
|
212760 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
11.52 |
|
Bodies corporate |
|
10.40 |
|
Directors or relatives of directors |
|
78.08 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Biaxially Oriented Poly Propylene (BOPP)
Films. |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
BOPP Films, Busbar Grade Film, Multi Layered Film, Clear BOPP Films, BOPP
Metallized Films, BOPP Glossy Films. |
214 metric ton
per month |
80% |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Punjab National Bank, Mid Corporate Branch, 12/14, Brady House, V.N. Road, Fort, Mumbai – 400023, Maharashtra, India · Oriental Bank of Commerce, Large Corporate Branch, 181-A, Maker Tower 'E', 18th Floor, Cuffe Parade, Mumbai – 400005, Maharashtra, India · Oriental Bank of Commerce, Ahmedabad, Gujarat, India · IDBI Bank Limited · Axis Bank Limited · The Kalupur Commercial Co-Operative Bank Limited |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institute : |
PNB Investment Services
Limited, Motor Sales and Services Building, Ashram Road, Ahmedabad – 380009,
Gujarat, India |
|
|
|
|
Auditors : |
|
|
Name : |
G.K. Choksi and Company Chartered Accountants |
|
Address : |
“Madhuban”, Near Madaipur Underbridge, Ellisbridge, Ahmedabad –
380006, Gujarat, India |
|
Tel. No.: |
91-79-30012009 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFG7623H |
CAPITAL STRUCTURE
After: 29.09.2012
Authorised Capital : Rs.100.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.43.417 Millions
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3970220 |
Equity Shares |
Rs.10/- each |
Rs.39.702 Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1985110 |
Equity Shares |
Rs.10/- each |
Rs.19.851
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
19.851 |
17.871 |
|
(b) Reserves & Surplus |
|
420.378 |
234.908 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
12.129 |
|
Total Shareholders’
Funds (1) + (2) |
|
440.229 |
264.908 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1754.540 |
0.387 |
|
(b) Deferred tax liabilities (Net) |
|
22.387 |
0.065 |
|
(c) Other long term liabilities |
|
7.500 |
0.000 |
|
(d) long-term provisions |
|
0.592 |
0.066 |
|
Total Non-current
Liabilities (3) |
|
1785.019 |
0.518 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
|
96.769 |
44.973 |
|
(b) Trade payables |
|
36.679 |
0.879 |
|
(c) Other current liabilities |
|
295.929 |
48.352 |
|
(d) Short-term provisions |
|
2.751 |
0.000 |
|
Total Current
Liabilities (4) |
|
432.128 |
94.204 |
|
|
|
|
|
|
TOTAL |
|
2657.376 |
359.630 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
2162.168 |
1.873 |
|
(ii) Intangible Assets |
|
68.145 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
86.693 |
|
(iv) Intangible assets under development |
|
4.048 |
36.991 |
|
(b) Non-current Investments |
|
12.864 |
8.171 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
62.206 |
104.590 |
|
(e) Other Non-current assets |
|
1.700 |
0.000 |
|
Total Non-Current
Assets |
|
2311.131 |
238.318 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
113.927 |
0.000 |
|
(c) Trade receivables |
|
78.999 |
0.584 |
|
(d) Cash and cash equivalents |
|
85.636 |
102.569 |
|
(e) Short-term loans and advances |
|
62.759 |
13.811 |
|
(f) Other current assets |
|
4.924 |
4.348 |
|
Total Current
Assets |
|
346.245 |
121.312 |
|
|
|
|
|
|
TOTAL |
|
2657.376 |
359.630 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
15.500 |
|
|
2] Share Application Money |
|
|
43.157 |
|
|
3] Reserves & Surplus |
|
|
0.043 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
58.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.100 |
|
|
TOTAL BORROWING |
|
|
0.100 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
58.800 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.006 |
|
|
Capital work-in-progress |
|
|
1.075 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
5.716 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.000 |
|
|
Sundry Debtors |
|
|
0.584 |
|
|
Cash & Bank Balances |
|
|
0.340 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
55.420 |
|
Total
Current Assets |
|
|
56.344 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
3.658 |
|
|
Other Current Liabilities |
|
|
0.503 |
|
|
Provisions |
|
|
0.180 |
|
Total
Current Liabilities |
|
|
4.341 |
|
|
Net Current Assets |
|
|
52.003 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
58.800 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
397.403 |
0.000 |
0.649 |
|
|
|
Other Income |
1.171 |
0.884 |
0.000 |
|
|
|
TOTAL (A) |
398.574 |
0.884 |
0.649 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
332.894 |
|
|
|
|
|
Changes in inventories |
(53.128) |
0.000 |
|
|
|
|
Employee benefit Expenses |
8.761 |
0.246 |
|
|
|
|
Manufacturing and other expenses |
44.212 |
0.316 |
|
|
|
|
TOTAL (B) |
332.739 |
0.562 |
0.426
(Including Financial Expenses) |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
65.835 |
0.322 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
29.061 |
0.001 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
36.774 |
0.321 |
0.223 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.699 |
0.085 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
15.075 |
0.236 |
0.223 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
25.625 |
0.109 |
0.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
(10.550) |
0.127 |
0.042 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.169 |
0.042 |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(10.381) |
0.169 |
0.042 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.47) |
0.08 |
0.03 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.65) |
14.37 |
6.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.79 |
0.00 |
34.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.57 |
0.10 |
0.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.00 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
4.21 |
0.17 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80 |
1.29 |
12.98 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
(Rs. In Millions)
|
Particular |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Current maturities of long-term debt details |
150.163 |
0.224 |
NA |
|
|
|
|
|
|
Total |
150.163 |
0.224 |
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 |
Yes |
|
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 |
No |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
PERFORMANCE
The Company made an income of Rs. 398.600 Millions compared to last year income of Rs. 0.884 Million. The loss for the year is Rs. 10.500 Millions as compared to last year profit of Rs. 0.127 Million. The Company expects to perform better in the current year.
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG TERM BORROWING |
|
|
|
Inter-corporate Deposits |
298.900 |
0.000 |
|
SHORT TERM BORROWING |
|
|
|
Inter-corporate Deposits |
1.099 |
44.973 |
|
|
|
|
|
Total |
299.999 |
44.973 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10414082 |
12/02/2013 |
1,201,630,000.00 |
PNB INVESTMENT SERVICES LIMITED |
MOTOR SALES AND SERVICES BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B71540454 |
|
2 |
10414083 |
12/02/2013 |
2,301,630,000.00 |
PNB INVESTMENT SERVICES LIMITED |
MOTOR SALES AND SERVICES BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
B71540835 |
|
3 |
10397651 |
19/12/2012 |
1,165,753,368.00 |
KBC BANK DEUTSCHLAND AG |
EXPORT FINANCE DEPARTMENT, WACHSTRASSE 16, BREMEN, - 28195, GERMANY |
B66119975 |
|
4 |
10343631 |
03/02/2012 |
1,100,000,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE BRANCH, 12/14, BRADY HOUSE, V.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B35605591 |
|
5 |
10343635 |
03/02/2012 |
1,100,000,000.00 |
PUNJAB NATIONAL BANK |
MID CORPORATE BRANCH, 12/14, BRADY HOUSE, V.N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B35607514 |
|
6 |
10299434 |
03/02/2012 * |
1,820,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE BRANCH, 181-A, MAKER TOWER 'E', 1 |
B35606219 |
|
7 |
10299431 |
15/06/2011 |
370,000,000.00 |
ORIENTAL BANK OF COMMERCE |
LARGE CORPORATE BRANCH, 181-A, MAKER TOWER, 'E' 1 |
B17771981 |
|
8 |
10294365 |
11/05/2011 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
MCB, BRADY HOUSE, V. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B15885304 |
|
9 |
10278706 |
19/02/2011 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
MCB, BRADY HOUSE, V. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B10079861 |
|
10 |
10278708 |
19/02/2011 |
350,000,000.00 |
PUNJAB NATIONAL BANK |
MCB, BRADY HOUSE, V. N. ROAD, FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
B10080026 |
|
11 |
10272091 |
28/01/2011 |
958,371,142.74 |
KBC Bank Deutschland AG |
EXPORT FINANCE DEPT., WACHTSTRASSE 16, BREMEN, - 28195, GERMANY |
B06524821 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
·
Factory Building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicles
·
Office Equipments
·
Computer
·
Electronic Installments
·
Leasehold Improvement
Intangible Assets:
·
Rights in Land
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.63.38 |
|
|
1 |
Rs.100.86 |
|
Euro |
1 |
Rs.84.60 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.