MIRA INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
MACHINO POLYMERS LIMITED (w.e.f. 29.06.2007) |
|
|
|
|
Formerly Known
As : |
MACHINO – BASELL INDIA LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 02, Sector 33, Delhi Jaipur Highway, Gurgaon – 122001,
Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
30.09.1996 |
|
|
|
|
Com. Reg. No.: |
05-033306 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.234.437 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25201HR1996PLC033306 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKM01626C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM9618E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
The Company is manufacturing Poly propylene compounds in various
colors and grades. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4796000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. There appears dip in profitability of the company during financial
year 2013. However, general financial position of the company seems to sound and
healthy. Trade relations are fair. Business is active. Payment terms are
reported to be 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 – 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 |
ICRA |
|
Rating |
Cash credit facilities BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
January 2014 |
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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-124-4684200)
LOCATIONS
|
Registered Office / Head office / Factory : |
Plot No. 2, Sector 33, |
|
Tel. No.: |
91-124-4684200-201/4031856-60 |
|
Fax No.: |
91-124-4684299/4031841 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
21.000 Sq. m |
|
|
|
|
Regional Office 1 : |
A-204, IInd Floor, Parmar Trade Centre, Near Sadhu Vaswani Chowk,
Pune-411001, Maharashtra, India |
|
Tel. No.: |
91-20-40064840 |
|
Fax No.: |
91-20-40064840 |
|
|
|
|
Regional Office 2 : |
80/2, |
|
Tel. No.: |
91-44-26493101 |
|
Fax No.: |
91-44-26493101 |
|
|
|
|
Factory 2 : |
Survey No. 260, |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Muralidhar Jindal |
|
Designation : |
Managing Director |
|
Address : |
Jindal House 8A, Alipore Road, Kolkata- 700027, West Bengal, India |
|
Date of Birth/Age : |
28.01.1929 |
|
Qualification : |
Graduate |
|
PAN No.: |
ACPPJ2630J |
|
Date of Appointment : |
01.04.2012 |
|
DIN No. : |
00017753 |
|
|
|
|
Name : |
Mr. Sanjiv Jindal |
|
Designation : |
Director |
|
Address : |
A-401, Ambience Island Apartment, NH – 8, Gurgaon – 122001, Haryana,
India |
|
Date of Birth/Age : |
28.06.1957 |
|
Qualification : |
Doctorate |
|
PAN No.: |
ACXPJ9992M |
|
Date of Appointment : |
01.04.2012 |
|
DIN No. : |
00017902 |
|
|
|
|
Name : |
Mr. Ratan Lal Gaggar |
|
Designation : |
Director |
|
Address : |
11, Sarat Bose Raod, (Lansdown Raod) Kolkata -700020, West Bengal,
India |
|
Date of Birth/Age : |
01.12.1932 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
12.02.1999 |
|
DIN No. : |
00322904 |
|
|
|
|
Name : |
Mr. Arjun Jindal |
|
Designation : |
Whole-time director |
|
Address : |
Jindal House 8A, Alipore Road, Kolkata- 700027, West Bengal, India |
|
Date of Birth/Age : |
12.03.1980 |
|
Qualification : |
Graduate |
|
PAN No.: |
ACSPJ9754E |
|
Date of Appointment : |
16.01.2007 |
|
DIN No. : |
00729879 |
|
|
|
|
Name : |
Mr. Krishan Kumar |
|
Designation : |
Director |
|
Address : |
A-74, Summit Apartmnents DLF Phase V Sector – 54, Gurgaon – 122001,
Haryana, India |
|
Date of Birth/Age : |
01.07.1938 |
|
Qualification : |
Doctorate |
|
Date of Appointment : |
30.06.2009 |
|
DIN No. : |
00972260 |
|
|
|
|
Name : |
Ms. Jyoti Asesh Dutta |
|
Designation : |
Director |
|
Address : |
1/357, Jodhpur Park, Kolkata-700068, West Bengal, India |
|
Date of Birth/Age : |
22.12.1966 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
01.09.2009 |
|
DIN No. : |
02819704 |
|
|
|
|
Name : |
Mr. Nala Veerbhadra Rao |
|
Designation : |
Director |
|
Address : |
C-3, 3004 Vasant Kunj, New Delhi – 110070, India |
|
Date of Birth/Age : |
27.08.1952 |
|
Date of Appointment : |
22.11.2012 |
|
DIN No. : |
00329370 |
KEY EXECUTIVES
|
Name : |
Ms. Sneha |
|
Designation : |
Secretary |
|
Address : |
23 / 2, Sarda Paly Sec Hooghly - 712245, West Bengal, India |
|
Date of Birth : |
12.08.1985 |
|
Date of Appointment : |
04.02.2013 |
|
PAN No.: |
BBUPP3093G |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
M
D Jindal |
12662178 |
|
Kamala
Jindal |
300198 |
|
Sanjiivv
Jindal |
330 |
|
Rajiv Jindal |
330 |
|
Machino Techno Sales Limited, India |
715000 |
|
Machino Finance Private Limited, India |
8565000 |
|
Arjun Jindal |
1200660 |
|
|
|
|
Total |
23443696 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
39.58 |
|
Directors or relatives of Directors |
60.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is manufacturing Poly propylene compounds in various
colors and grades. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
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||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. S. R. and
Company Chartered Accountants |
|
Address : |
Building No. 10,
8th Floor, Tower B, Dlfcyber City, Ph. - II, Gurgaon – 122002, Haryana, India
|
|
PAN
No. : |
AAIFB0630K |
|
|
|
|
Enterprises which are owned, or have significant
influence of or are partners with Key management personnel and their
relatives : |
*
Machino Plastics Limited *
Machino Transport Private Limited *
Machino Techno Sales Limited *
Machino Finance Private Limited *
Machino Auto Comp Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23443696 |
Equity Shares |
Rs.10/- each |
Rs.234.437 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
234.437 |
234.437 |
117.218 |
|
(b) Reserves & Surplus |
964.700 |
945.618 |
1035.253 |
|
(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) |
1199.137 |
1180.055 |
1152.471 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1.562 |
2.196 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
14.486 |
16.673 |
12.471 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.429 |
2.589 |
39.302 |
|
Total
Non-current Liabilities (3) |
17.477 |
21.458 |
51.773 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term borrowings |
760.570 |
496.601 |
509.669 |
|
(b) Trade payables |
338.982 |
279.433 |
310.342 |
|
(c) Other current liabilities |
42.550 |
84.493 |
64.538 |
|
(d) Short-term provisions |
18.113 |
57.442 |
48.755 |
|
Total
Current Liabilities (4) |
1160.215 |
917.969 |
933.304 |
|
|
|
|
|
|
TOTAL |
2376.829 |
2119.482 |
2137.548 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
991.911 |
1025.069 |
1026.182 |
|
(ii) Intangible Assets |
2.174 |
3.722 |
3.878 |
|
(iii) Capital work-in-progress |
15.587 |
2.352 |
2.549 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
23.590 |
40.510 |
14.569 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
17.822 |
|
Total
Non-Current Assets |
1033.262 |
1071.653 |
1065.000 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
403.269 |
358.113 |
388.481 |
|
(c) Trade receivables |
816.335 |
527.423 |
547.550 |
|
(d) Cash and cash equivalents |
72.685 |
95.728 |
90.828 |
|
(e) Short-term loans and advances |
49.431 |
64.779 |
45.689 |
|
(f) Other current assets |
1.847 |
1.786 |
0.000 |
|
Total
Current Assets |
1343.567 |
1047.829 |
1072.548 |
|
|
|
|
|
|
TOTAL |
2376.829 |
2119.482 |
2137.548 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2879.052 |
2473.615 |
2439.785 |
|
|
|
Other Income |
26.795 |
8.727 |
16.296 |
|
|
|
TOTAL |
2905.847 |
2482.342 |
2456.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2472.595 |
1947.868 |
1915.643 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(65.353) |
14.190 |
(22.456) |
|
|
|
Employees benefits expense |
70.188 |
65.004 |
55.114 |
|
|
|
Other expenses |
264.522 |
273.390 |
187.003 |
|
|
|
TOTAL |
2741.952 |
2300.452 |
2135.304 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION
AND AMORTISATION |
163.895 |
181.890 |
320.777 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
92.856 |
78.798 |
46.172 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
71.039 |
103.092 |
274.605 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
30.100 |
29.921 |
32.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
40.939 |
73.171 |
242.492 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.736 |
25.153 |
82.895 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
38.203 |
48.018 |
159.597 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.63 |
2.05 |
6.77 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.31 |
1.93 |
6.50 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.42 |
2.96 |
9.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73 |
3.46 |
11.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.06 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.64 |
0.42 |
0.44 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16 |
1.14 |
1.15 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
117.218 |
234.437 |
234.437 |
|
Reserves & Surplus |
1035.253 |
945.618 |
964.700 |
|
Net
worth |
1152.471 |
1180.055 |
1199.137 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
2.196 |
1.562 |
|
Short term borrowings |
509.669 |
496.601 |
760.570 |
|
Total
borrowings |
509.669 |
498.797 |
762.132 |
|
Debt/Equity
ratio |
0.442 |
0.423 |
0.636 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2439.785 |
2473.615 |
2879.052 |
|
|
|
1.387 |
16.390 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2439.785 |
2473.615 |
2879.052 |
|
Profit |
159.597 |
48.018 |
38.203 |
|
|
6.54% |
1.94% |
1.33% |
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 |
----- |
|
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 |
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
28.700 |
43.500 |
|
|
|
|
|
Total |
28.700 |
43.500 |
FINANCIAL HIGHLIGHTS:
During the year, the
Company achieved a sale of 26,951 MT (in quantity) against sales of 24592 MT in
the corresponding previous financial year, an increase of 09.93 % in total
volume of the sale. The net sales of the Company have grown up 287.44 Crore (in
value) from 246.91 Crore, an increase of 16.41 % (in value) over the last
financial year.
HIGHLIGHT OF OPERATIONS / COMPANY'S AFFAIRS:
The Company is
manufacturing Poly propylene compounds in various colors and grades. It is used
in plastic moulded parts. The Company is mainly manufacturing auto grades and
catering to various OEMs like Maruti, Honda, Toyota, Tata, Mahindra and
Mahindra etc through tier-I moulders. Your Company has successfully developed
non-auto grades also and catering white goods industries also. During the year
the Company has increased its sales upto 10% approximate in non auto sector and
continuously focusing in increase in this sector. R and D team of the Company
is continuously working to develop new compounds and resulting the Company has
been approved by OEMs for their new cars to be launched. Export market
development is a continuous focus of the Company. Going forward the Company is
working on measures to reduce operational costs.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25201HR1996PLC033306
|
|
Name of the
company |
MACHINO
POLYMERS LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 02, Sector 33, Delhi Jaipur Highway, Gurgaon – 122001,
Haryana, India |
|
This form is for |
Creation of charge |
|
Charge identification (ID) number of the charge to be
modified |
-- |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of
charge holder |
Indusind Bank Limited, Dr. Gopal Das Building, 28, Barakhamba Road,
New Delhi – 110001, India |
|
Nature of
instrument creating charge |
Deed
of Hypothecation by Borrower. |
|
Date of instrument
Creating the charge |
26.12.2013 |
|
Amount secured by
the charge |
Rs. 150.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest AS Per Bank Norms. Term
of Payment: Payable on Demand. Margin Margin as per Bank Norms. Extent and
operation of the charge First pari passu charge over current assets and movable fixed assets
with other banks under mba of the company. Others: The
above is to secure the following credit facilities :- Cash
Credit
Rs. 150.000 Millions Working
Capital Demand Loan (Rs.
150.000 Millions) (Sub
limit of CC)/ FCNR Letter
of Credit (ILC/FLC)/ Buyers Credit
(Rs. 150.000 Millions) (sub limit of CC/WCDL/FCNR ) |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
by way of first pari passu charge over all present and future movable fixed assets
of the company including without limitation its movable plant and machinery,
furniture and fittings, Equipment,
computers hardware, computer software, machinery spares, tools and
accessories and other movables etc. and Hypothecation
by way of first pari passu charge over all present and future book debts,
outstandings moneys receivables, claims and bills which are now due and owing
or which may at any time during The
continuance of this security become due and owing to the borrower in the
course of its business by any person, firm, company or body corporate or by
the government department or office or
any Municipal
or local or public or semi government body or authority or any body corporate
or undertaking or project whatever in the public sector and all present and
future stock in trade consisting of Raw
materials, finished goods, goods in process of manufacturing and other
merchandise etc. stored or to be stored at company's godowns or premises or
wherever else the same may be. |
FIXED ASSETS
œ
Land
œ
Buildings
œ
Plant and Equipment
œ
Furniture and Fixtures
œ
Vehicles
œ
Office Equipment
œ
Computer 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.60.12 |
|
|
1 |
Rs.101.05 |
|
Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.