MIRA
INFORM REPORT
|
Report Date : |
11.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
VITAL LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
“Venkatesh”, Mahant
Road Extension, Utkarsh Mandal
Circle, Vile Parle (East), Mumbai – 400057, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.06.2002 |
|
|
|
|
Com. Reg. No.: |
11-136195 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 36.605 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24230MH2002PTC136195 |
|
|
|
|
IEC No.: |
0303015721 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV11158A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV6322L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Active Pharmaceutical Ingredient. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “The Vital Group”. It is an established company having satisfactory track record. The company possesses a moderate financial profile marked by
acceptable networth base along with highly working
capital intensive operations. The ratings also take into consideration the promoters support for the
groups funding requirements for business growth loans which supports the
liquidity position. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of established market position in manufacturing Active
Pharmaceutical Ingredients, the subject can be considered for business
dealings at usual trade terms and conditions. |
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 |
Long term rating: “BB+” |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
31.05.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
31.05.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sachin |
|
Designation : |
Assistance Manager Finance |
|
Contact No.: |
91-22-26183641 |
|
Date : |
09.04.2014 |
LOCATIONS
|
Registered Office : |
“Venkatesh”, Mahant
Road Extension, Utkarsh Mandal
Circle, Vile Parle (East), Mumbai – 400057, Maharashtra,
India |
|
Tel. No.: |
91-22-26183641 / 26145652 |
|
Fax No.: |
91-22-26136945 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
Owned |
|
|
|
|
Administrative Office/ Factory 1: |
Plot No.1416-19 and 1420, 1507/1 and 1507/2, 1601/1 and 1601/2, G.I.D.C.
Estate, Phase III, Vapi - 396195 |
|
Tel. No.: |
91-260-2424744/ 2400487 |
|
Fax No.: |
91-260-2430587 |
|
Email : |
|
|
Located : |
Owned |
|
|
|
|
Factory 2 : |
Plot No. 1710 and A1/2208 G.I.D.C. Estate, Phase III, Vapi – 396195 |
|
Tel. No.: |
91-260-2424744/ 2400487/ 2420154 |
|
Fax No.: |
91-260-2430587 |
|
Email : |
|
|
Located : |
Owned |
|
|
|
|
Branch Office : |
Mumbai 158/164, Tel No.: 91-22-22400701/ 705 Fax No.: 91-22-22400711 Email : crownsec@vsnl.com Pune 283, Shukarawar Peth,
Prestige Point, 1st Floor, Office No.3, Behind Bajorao
Road, Telephone Exchange, Pune – 411002, Maharashtra, India Tel No.: 91-20-24460071/75 Fax No.:91-20-24460075 Email: crownsec@eth.net |
|
Fax No.: |
91-260-2430587 |
|
Email : |
|
|
Located : |
Owned |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Laltaprasad Shreenath Maurya |
|
Designation : |
Director |
|
Address : |
Kamala Niwas, Chanod Colony, Vapi – 396195, |
|
Date of Birth/Age : |
26.07.1955 |
|
Date of Appointment : |
24.04.2009 |
|
DIN No.: |
00202949 |
|
|
|
|
Name : |
Mr. Shrigopal Rangnath Bajaj |
|
Designation : |
Managing Director |
|
Address : |
|
|
Date of Birth/Age : |
04.01.1943 |
|
Qualification : |
HSC |
|
Date of Appointment : |
13.06.2002 |
|
PAN No.: |
AAAPB7785R |
|
DIN No.: |
00983198 |
|
|
|
|
Name : |
Mr. Shrigopal Rajiv Bajaj |
|
Designation : |
Director |
|
Address : |
|
|
Date of Birth/Age : |
10.01.1965 |
|
Date of Appointment : |
13.06.2002 |
|
PAN No.: |
AAEPB3784C |
|
DIN No.: |
01659971 |
|
|
|
|
Name : |
Mr. Anil Balkrishna Ghogare
|
|
Designation : |
Additional Director |
|
Address : |
Flat No. 104, 1st Floor, Rajanigandha
Co-operative Housing Society, Plot No. 106, Gorai
2, Borivali (West), Mumbai – 400091, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1960 |
|
Date of Appointment : |
01.08.2013 |
|
DIN No.: |
00432659 |
KEY EXECUTIVES
|
Name : |
Mr. Sachin |
|
Designation : |
Assistance Manager Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
S.R Bajaj |
|
533050 |
|
Rajiv S. Bajaj |
|
698750 |
|
Dipika R. Bajaj |
|
207450 |
|
Ginni Devi Bajaj |
|
284500 |
|
Vijay Saraf |
|
250 |
|
Padma Pharmaceuticals Private Limited, |
|
1170000 |
|
S.R Bajaj HUF |
|
151000 |
|
R.S Bajaj HUF |
|
215000 |
|
Nabaratna Vinimay Private
limited, |
|
400500 |
|
|
|
|
|
Total |
|
3660500 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
42.90 |
|
Directors or relatives of directors |
|
57.10 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Active Pharmaceutical Ingredient. |
|
|
|
|
Exports : |
|
|
Countries : |
UK USA |
|
|
|
|
Imports : |
|
|
Countries : |
China Australia |
PRODUCTION STATUS (31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
10 Dab and Camptothecin |
Kgs. |
400 |
245.072 |
|
Colchicine and Thiocochicoside |
Kgs. |
1000 |
567.443 |
|
Yohimbine |
Kgs. |
1000 |
92.655 |
|
Hyoscine |
Kgs. |
5000 |
4080.69 |
|
Cetrazine + PPA+ HCL+ Phenylafrin+
Piperazine Citrate |
Kgs. |
120000 |
26310.63 |
|
PPAHCL + AMODOQUINE |
Kgs. |
12000 |
6362.37 |
|
Reserpine + Digogzin |
Kgs. |
500 |
77.692 |
|
Methyl Cobalamine |
Kgs. |
3000 |
1415.519 |
GENERAL INFORMATION
|
Suppliers : |
Zhejiang Chemicals Import and Export Corporation |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Customers : |
Fuerst Day Lawson Limited |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
500 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of Bikaner And Jaipur,4 Montana , 2nd ' X' Lane, Lokhandwala Complex, Andheri (West), Mumbai - 400057, Maharashtra, India · Corporation Bank, Amboli Branch Sarkar Palace Amboli, Andheri West, Mumbai - 400058, Maharashtra, India · State Bank of India, Sme Backbay Reclamation Branch, Mittal Court, B Wing, Nariman Point, Mumbai - 400021, Maharashtra, India · Axis Bank Limited, Trishul 3rd Floor Opposite Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad - 380006, Gujarat, India · ING Vysya Bank Limited, G F- 9/1,Utan Lakshmi, Co-Op Housing Society Limited, Krishna Kunj, Plot No.32, Juhu, Mumbai - 400049, Maharashtra, India · Corporation Bank, Large Corproate Branch, The Eagle Flight,3rd Floor, 301-302,Suren Road, Andheri Kurla Road, Andheri-East, Mumbai - 400093, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shantilal Chandaliya and Company Chartered Accountants |
|
Address : |
Office No G-6 Dr. S. S. Rao Road, Near Gandhi Hospital, Parel, Mumbai, Maharashtra, India |
|
PAN No.: |
AAXFS7579M |
|
|
|
|
Associates: |
· Vital Healthcare Private Limited · Padma Pharmaceuticals Private Limited · Nabaratna Vinimay Private Limited |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3660500 |
Equity Shares |
Rs.10/- each |
Rs. 36.605
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 |
36.605 |
36.605 |
36.605 |
|
(b) Reserves & Surplus |
261.874 |
232.808 |
204.492 |
|
(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) |
298.479 |
269.413 |
241.097 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
178.291 |
119.634 |
83.398 |
|
(b) Deferred tax liabilities
(Net) |
16.412 |
14.443 |
12.509 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.485 |
1.481 |
0.911 |
|
Total
Non-current Liabilities (3) |
196.188 |
135.558 |
96.818 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
286.208 |
256.427 |
148.444 |
|
(b) Trade payables |
221.322 |
274.844 |
228.602 |
|
(c) Other current liabilities |
71.001 |
39.891 |
34.900 |
|
(d) Short-term provisions |
4.565 |
3.065 |
1.700 |
|
Total
Current Liabilities (4) |
583.096 |
574.227 |
413.646 |
|
|
|
|
|
|
TOTAL |
1,077.763 |
979.198 |
751.561 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
241.786 |
211.283 |
195.791 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
51.179 |
37.398 |
17.541 |
|
(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 |
3.188 |
3.037 |
8.045 |
|
(e) Other Non-current assets |
2.105 |
1.550 |
0.584 |
|
Total
Non-Current Assets |
298.258 |
253.268 |
221.961 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
483.142 |
432.653 |
302.464 |
|
(c) Trade receivables |
191.546 |
219.513 |
154.097 |
|
(d) Cash and cash equivalents |
37.795 |
37.257 |
25.849 |
|
(e) Short-term loans and
advances |
66.981 |
31.648 |
42.411 |
|
(f) Other current assets |
0.041 |
4.859 |
4.779 |
|
Total
Current Assets |
779.505 |
725.930 |
529.600 |
|
|
|
|
|
|
TOTAL |
1,077.763 |
979.198 |
751.561 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1117.896 |
1083.217 |
853.161 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1074.988 |
1040.657 |
818.850 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
42.908 |
42.560 |
34.311 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.843 |
14.244 |
11.192 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
29.065 |
28.315 |
23.118 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.94 |
7.73 |
6.32 |
|
Expected Sales (2013-2014): Rs. 1670.000
Millions
The above information has been parted by Mr. Sachin
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.60 |
2.61 |
2.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.18 |
4.52 |
4.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14 |
0.16 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
1.56 |
1.40 |
0.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.26 |
1.28 |
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 |
36.605 |
36.605 |
36.605 |
|
Reserves & Surplus |
204.492 |
232.808 |
261.874 |
|
Net
worth |
241.097 |
269.413 |
298.479 |
|
|
|
|
|
|
long-term borrowings |
83.398 |
119.634 |
178.291 |
|
Short term borrowings |
148.444 |
256.427 |
286.208 |
|
Total
borrowings |
231.842 |
376.061 |
464.499 |
|
Debt/Equity
ratio |
0.962 |
1.396 |
1.556 |
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 |
853.161 |
1,083.217 |
1,117.896 |
|
|
|
26.965 |
3.201 |
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 |
853.161 |
1,083.217 |
1,117.896 |
|
Profit |
23.118 |
28.315 |
29.065 |
|
|
2.71% |
2.61% |
2.60% |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
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 |
OPERATIONS AND
OVERALL PERFORMANCE
The operation of the Company for the year was satisfactory.
FUTURE OUTLOOK
The Directors are quite hopeful about the bright future of the activities of the company.
|
Corporate
identity number of the company |
U24230MH2002PTC136195 |
|
Name of the
company |
VITAL
LABORATORIES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
“Venkatesh” Mahant
Road Extension, Utkarsh Mandal
Circle, Vile Parle, Mumbai – 400057, Maharasahtra,
India Email Id:
vital@vhcpl.com |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
STATE BANK OF
INDIA, SME Backbay Reclamation Branch, |
|
Nature of
instrument creating charge |
1) Agreement of Hypothecation
of Goods and Assets 2) Letter
Regarding the Grant of Individual Limits within the Overall Limit both pertaining
to a single charge |
|
Date of
instrument Creating the charge |
19.07.2011 |
|
Amount secured by
the charge |
Rs. 610.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest: As determined by
the Bank from time to time. Presently: On
Cash Credit - 3.75% p.a. + Base Rate, present Base Rate 9.5% p.a., On T/L - I
& II 4.25 % p.a. + Base Rate Terms of
Repayment: Working capital -
on demand T/L I of Rs. 60.000 Millions - in 45 monthly installments - first
9 installments (July, 2011 to March,2012) of Rs.1.350 Millions each, 35 installments (April, 2012 to
Feb.,2015) of Rs.13.30 lacs each and last one
installment (March,2015) of Rs.1.350 Millions T/L II of Rs.50.000 Millions - in 54 monthly
installments - first 3 installments (Jan., 2011 to March,2012) of Rs.0.926
Millions each, 50 installments (April, 2012 to May,2016) of Rs. 0.926 Millions, last installment (June,2016) of
Rs.0.922 Millions Margin: As prescribed by
the Bank from time to time Presently - R/Ms
25%, Stock in process 30%, Finished Goods 30%, L/C and B/G 15% and Book-debts/receivables (90 days) 40% Extent and operation
of the charge: First charge Others: Cash Credit
Rs.290.000 Millions, EPC/PCFC/EBD/EBN (within C/C) Rs.140.000 Millions Term
Loan I Rs.60.000 Millions, Term Loan
II Rs.50.000 Millions, L/C Rs.210.000 Millions and B/G (within L/C) Rs.20.000
Millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Present and
future Stocks, book-debts and all other current assets |
FIXED ASSETS:
- Building
- Land
- Electrical Installation
- Effluent treatment Plant
- Fire Fighting Equipment
- Furniture and Fixture
- Pipe Line
- Plant and Machinery
- Lab Equipment
- Motor Car
- Computer
- Motor
Cycle
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. 60.21 |
|
|
1 |
Rs. 101.05 |
|
Euro |
1 |
Rs. 83.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working
capital. No caution needed for credit transaction. It has above average
(strong) capability for payment of interest and principal sums |
Large |
|
56-70 |
A |
Financial &
operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly
Large |
|
41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial
difficulties seems comparatively below average. |
Small |
|
11-25 |
Ca |
Adverse factors are
apparent. Repayment of interest and principal sums in default or expected to
be in default upon maturity |
Limited
with full security |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit
not recommended |
|
-- |
NB |
New
Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.