MIRA INFORM REPORT
|
Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMRITSAR SWADESHI TEXTILE CORPORATION PRIVATE LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation : |
24-01-2005 |
|
|
|
|
Com. Reg. No.: |
16-027880 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.200.000 Millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U17110PB2005PTC027880 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
AMRA10966E |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAFCA0627F |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Importer of Blankets |
|
|
|
|
No. of Employees
: |
300 (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 2000000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
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|
Comments : |
Subject is an established company having a moderate track record. Management has failed to file the latest financials of 2013, with the
government department. As per available financials of 2012, there appears some dip in the
turnover of the company during the current year. Profitability of the company
appears to low. However, trade relations are reported as 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product from
$31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in exports
and moderation in gold imports. Manufacturing activity and new orders in India
showed their strongest growth in a year in February. The news comes as a relief
after data showed Asia’s third largest economy grew by a slower-than-expected
4.7 % annually in the three months through December. The HSBC Manufacturing
Purchasing Managers’ Index which gauges the business activity of India’s
factories but not its’ utilities, rose to 52.5 in February, its highest in a
year from 51.4 in January. Overall new orders for factory goods which rose to a
one-year high of 54.9 contributed to the surge. China has emerged as India’s
biggest trading partner in the current financial year replacing the United Arab
Emirates and pushing it to the third spot. India-China trade has reached $49.5
billion with a 8.7 % share in India’s total trade. The US comes second at $46
billion with 8.1 % share during the first nine months of the current financial
year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced. The
defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Bank Guarantee) (Suspended) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
27.02.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
BB+ (Short Bank) (Suspended) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
27.02.2013 |
Reason for suspended:
The rating agency has suspended the said
company rating, as the subject failed to provide adequate information which is mandatory
to assign a specific rating to a company.
The agency considers information availability
risk as a key rating factor in its rating process and non-sharing of
information as a first signal of possible credit distress, as outlined in its
criteria”information availability risk in credit ratings”.
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 DATAILS)
|
Name : |
Mr. Sachin Khana |
|
Designation : |
Director |
|
Contact No.: |
91-9356014406 |
|
Date : |
11.03.2014 |
LOCATIONS
|
Registered Office : |
|
|
Tel. No.: |
91-183-2225618 / 2220782 / 5094716 / 3090796 |
|
Mobile No.: |
91-9356014406 (Mr. Sachin Khana) |
|
Fax No.: |
91-183-5094717 |
|
E-Mail : |
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|
Website : |
|
|
Area : |
2000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-183-2263889, 2263903 |
|
|
|
|
Factory 2 : |
Village Vallah Verka, Bye Pass, Amritsar, Punjab, India |
|
Tel. No.: |
91-183-3092600, 5092693 |
|
|
|
|
Branch Office : |
405, Jolly Bhavan No.2, 7 New Marine Lines, Mumbai-400020,
Maharashtra, India |
|
Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Sachin Khanna |
|
Designation : |
Director |
|
Address : |
79, The Mall, Amritsar, Punjab, India |
|
Date of Birth/Age : |
27.09.1974 |
|
Date of Appointment : |
26.02.2005 |
|
PAN No.: |
AEKPK7839K |
|
DIN No.: |
01585103 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL2001PTC109816 |
KRISHTEX FELTS
PRIVATE LIMITED |
Director |
27/02/2001 |
27/02/2001 |
- |
Active |
NO |
|
2 |
U17110PB2005PTC027880 |
AMRITSAR
SWADESHI TEXTILE CORPORATION PRIVATE LIMITED |
Director |
26/02/2005 |
26/02/2005 |
- |
Active |
NO |
|
3 |
U74899DL1975PTC007764 |
AMRITSAR
SWADESHI WOOLLEN MILLS PRIVATE LIMITED |
Director |
27/09/2008 |
27/09/2008 |
- |
Active |
NO |
|
Name : |
Mr. Raj Krishna Khanna |
|
Designation : |
Director |
|
Address : |
72, Mount Blanc,
Dady Seth Hill Road, August Kranti Marg, Mumbai, Maharashtra, India |
|
Date of Birth/Age : |
10.08.1933 |
|
Date of Appointment : |
24.01.2005 |
|
PAN No.: |
ABSPK4265C |
|
DIN No.: |
00458398 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U51311MH1972GAP016172 |
INDIAN WOOLLEN
MILLS' FEDERATION |
Director |
29/06/1983 |
29/06/1983 |
- |
Active |
NO |
|
2 |
U74899DL1975PTC007764 |
AMRITSAR
SWADESHI WOOLLEN MILLS PRIVATE LIMITED |
Managing
director |
30/03/1995 |
30/03/1995 |
- |
Active |
NO |
|
3 |
U74999DL1996PTC081995 |
SWADESHI
KOREATEX PRIVATE LIMITED |
Director |
16/05/1997 |
16/05/1997 |
- |
Active |
NO |
|
4 |
U17110PB2005PTC027880 |
AMRITSAR
SWADESHI TEXTILE CORPORATION PRIVATE LIMITED |
Director |
24/01/2005 |
24/01/2005 |
- |
Active |
NO |
|
Name : |
Mr. Lalit Krishna Khanna |
|
Designation : |
Director |
|
Address : |
219, Dr. Alagesan Road, Sai Baba Mission, P.O. Coimbatore, Tamilnadu,
India |
|
Date of Birth/Age : |
11.04.1944 |
|
Date of Appointment : |
24.01.2005 |
|
PAN No.: |
AEKPK7838J |
|
DIN No.: |
01585862 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1975PTC007764 |
AMRITSAR
SWADESHI WOOLLEN MILLS PRIVATE LIMITED |
Director |
29/03/1995 |
29/03/1995 |
- |
Active |
NO |
|
2 |
U74999DL1996PTC081995 |
SWADESHI KOREATEX
PRIVATE LIMITED |
Director |
16/05/1997 |
16/05/1997 |
- |
Active |
NO |
|
3 |
U17110PB2005PTC027880 |
AMRITSAR
SWADESHI TEXTILE CORPORATION PRIVATE LIMITED |
Director |
24/01/2005 |
24/01/2005 |
- |
Active |
NO |
|
Name : |
Mr. Rajiv Krishan Khanna |
|
Designation : |
Director |
|
Address : |
79, The Mall, Amritsar, Punjab, India |
|
Date of Birth/Age : |
28.04.1946 |
|
Date of Appointment : |
24.01.2005 |
|
PAN No.: |
ABMPK9449E |
|
DIN No.: |
01585114 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17117PB1972PTC003177 |
REGAL WOOLLEN
MILLS PRIVATE LIMITED |
Director |
22/09/1972 |
22/09/1972 |
- |
Active |
NO |
|
2 |
U74899DL1975PTC007764 |
AMRITSAR
SWADESHI WOOLLEN MILLS PRIVATE LIMITED |
Director |
20/05/1975 |
20/05/1975 |
- |
Active |
NO |
|
3 |
U74999DL1996PTC081995 |
SWADESHI
KOREATEX PRIVATE LIMITED |
Director |
17/09/1996 |
17/09/1996 |
- |
Active |
NO |
|
4 |
U74899DL2001PTC109816 |
KRISHTEX FELTS
PRIVATE LIMITED |
Director |
27/02/2001 |
27/02/2001 |
- |
Active |
NO |
|
5 |
U17110PB2005PTC027880 |
AMRITSAR SWADESHI
TEXTILE CORPORATION PRIVATE LIMITED |
Director |
24/01/2005 |
24/01/2005 |
- |
Active |
NO |
|
Name : |
Mr. Siri Krishan Khanna |
|
Designation : |
Managing Director and Chairman |
|
Address : |
79, The Mall, Amritsar, Punjab, India |
|
Date of Birth/Age : |
15.8.1923 |
|
Date of Appointment : |
26.02.2005 |
|
PAN No.: |
ABSPK4344G |
|
DIN No.: |
01585109 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U17117PB1972PTC003177 |
REGAL WOOLLEN
MILLS PRIVATE LIMITED |
Director |
22/09/1972 |
22/09/1972 |
- |
Active |
NO |
|
2 |
U74899DL1975PTC007764 |
AMRITSAR
SWADESHI WOOLLEN MILLS PRIVATE LIMITED |
Director |
30/03/1995 |
30/03/1995 |
- |
Active |
NO |
|
3 |
U74999DL1996PTC081995 |
SWADESHI
KOREATEX PRIVATE LIMITED |
Director |
17/09/1996 |
17/09/1996 |
- |
Active |
NO |
|
4 |
U17110PB2005PTC027880 |
AMRITSAR
SWADESHI TEXTILE CORPORATION PRIVATE LIMITED |
Managing
director |
26/02/2005 |
26/02/2005 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
S. K. Khanna |
3000000 |
|
Raj Krishna Khanna |
3000000 |
|
Lalit Krishna Khanna |
3000000 |
|
Vinod Khanna |
1400000 |
|
Vimal Khanna |
1400000 |
|
Vijay Khanna |
1400000 |
|
Rajiv Khanna |
1600000 |
|
Akhil Khanna |
600000 |
|
Sachin Khanna |
600000 |
|
Amritsar Swadeshi Woollen Mills Private Limited, India |
4000000 |
|
TOTAL
|
20000000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
20.00 |
|
Directors or relatives of Directors |
80.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Blankets |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
|
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers
|
||||||||||||
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|
|
||||||||||||
|
No. of Employees : |
300 (Approximately) |
||||||||||||
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Bankers : |
|
||||||||||||
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|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R L Mehra And Company Chartered Accountant |
|
Address : |
|
|
Tel. No.: |
91-183-229114 / 503603 |
|
PAN No.: |
AADFR2154F |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs. 200.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
200.000 |
200.000 |
200.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
305.770 |
304.939 |
319.755 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
505.770 |
504.939 |
519.755 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
99.679 |
159.718 |
141.127 |
|
|
2] Unsecured Loans |
27.751 |
54.740 |
99.946 |
|
|
TOTAL BORROWING |
127.430 |
214.458 |
241.073 |
|
|
DEFERRED TAX LIABILITIES |
7.375 |
2.675 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
640.575 |
722.072 |
760.828 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
248.498 |
520.141 |
525.836 |
|
|
Capital work-in-progress |
7.668 |
0.971 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.111 |
0.111 |
0.110 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
176.960
|
142.739 |
171.637
|
|
|
Sundry Debtors |
55.933
|
78.132 |
90.388
|
|
|
Cash & Bank Balances |
125.185
|
19.317 |
5.187
|
|
|
Other Current Assets |
4.044
|
7.286 |
0.000
|
|
|
Loans & Advances |
107.977
|
29.262 |
36.047
|
|
Total
Current Assets |
470.099
|
276.736 |
303.259 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
22.549
|
27.036 |
54.102
|
|
|
Other Current Liabilities |
44.824
|
48.851 |
0.000
|
|
|
Provisions |
18.428
|
0.000 |
14.775
|
|
Total
Current Liabilities |
85.801
|
75.887 |
68.877 |
|
|
Net Current Assets |
384.298
|
200.849 |
234.382
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.500 |
|
|
|
|
|
|
|
|
TOTAL |
640.575 |
722.072 |
760.828 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
243.200 |
335.700 |
341.900 |
|
|
|
Other Income |
NA |
NA |
17.424 |
|
|
|
TOTAL |
NA |
NA |
359.324 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
348.927 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
10.397 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
3.375 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
NA |
NA |
7.022 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
108.873 |
146.223 |
135.294 |
|
|
TOTAL EARNINGS |
108.873 |
146.223 |
135.294 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Purchase |
46.463 |
57.827 |
21.475 |
|
|
|
Stores and Accessories |
1.685 |
1.872 |
2.065 |
|
|
TOTAL IMPORTS |
48.148 |
59.699 |
23.540 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
-- |
0.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
1.95
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
3.04
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
1.25
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
0.02
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.25
|
0.42 |
0.46
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
5.48
|
3.65 |
4.40
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
200.000 |
200.000 |
200.000 |
|
Reserves & Surplus |
319.755 |
304.939 |
305.770 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
519.755 |
504.939 |
505.770 |
|
|
|
|
|
|
Secured Loans |
141.127 |
159.718 |
99.679 |
|
Unsecured Loans |
99.946 |
54.740 |
27.751 |
|
Total
borrowings |
241.073 |
214.458 |
127.430 |
|
Debt/Equity
ratio |
0.464 |
0.425 |
0.252 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
341.900 |
335.700 |
243.200 |
|
|
|
(1.813) |
(27.554) |
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 |
Yes |
|
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
one 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 |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
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 |
UNSECURED LOAN
|
Particulars |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Long Term Deposits from Directors
|
27.751 |
54.740 |
|
|
|
|
|
TOTAL |
27.751 |
54.740 |
FINANCIAL RESULTS
AND AFFAIRS OF THE COMPANY
The total turnover of the company during the year is Rs.243.200 Millions
as compared to Rs. 335.700 Millions during the previous year.
FUTURE PROSPECTS
OF THE COMPANY
The New Project
will bring better efficiency and cost effectiveness and will result in
economies of scale. The production capacities will increase three times and the
production lines will be well synchronized and systematic. This project will
have a gestation period of about 18 months.
TRADE REFERENCES
- Columbia Sportswear Company
VIEW INDEX OF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10381433 |
21/09/2012 |
48,000,000.00 |
PUNJAB &
SIND BANK |
HALL BAZAR,
AMRITSAR, Punjab - 143001, INDIA |
B60047933 |
|
2 |
10349755 |
28/03/2012 |
95,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT MARG, LOWER PAREL |
B37608908 |
|
3 |
90171530 |
11/07/2005 |
30,000,000.00 |
CANARA BANK |
D.S. MARKET,
AMRITSAR, Punjab, INDIA |
- |
|
4 |
90171522 |
13/06/2005 |
10,000,000.00 |
CANARA BANK |
D.S. MARKET,
AMRITSAR, Punjab, INDIA |
- |
|
5 |
90170090 |
15/02/2005 |
14,700,000.00 |
UNION BANK OF
INDIA |
CHOWK FOWARA,
AMRITSAR, Punjab, INDIA |
- |
|
6 |
90171476 |
28/08/2010 * |
280,500,000.00 |
UNION BANK OF
INDIA |
CHOWK FUVARA, AMRITSAR,
Punjab - 143001, INDIA |
A94411873 |
* Date of charge
modification
FIXED ASSETS
- Land
- Factory Building
- Office Building
- Plant And Machinery
- Furniture And Fittings
- Motor Vehicles
- Computers
- Transportation Vehicles
- Motor Bikes and Scooters
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. 60.32 |
|
|
1 |
Rs. 100.04 |
|
Euro |
1 |
Rs. 82.65 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.