MIRA
INFORM REPORT
|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXPANDED POLYMER SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne
MIDC, Vashi, Navi Mumbai
– 400705, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.11.2007 |
|
|
|
|
Com. Reg. No.: |
11-175657 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 120.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134MH2007PTC175657 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME00833A/ MUME07100C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFE0142M/ AABCE8627R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Polyurethane Raw Material Form of Chemical
System. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 690000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Reserves of the company are low. The rating also takes into consideration thin profit margin and raw
material price fluctuation. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred holidays
hotspots for Indians. The total figure is expected to increase to 1.93 million
by 2017, according to the latest Eurmonitor
international report.
There is a $29.34 bn outward foreign direct investment by domestic companies
between April and January of 2013/14 which has seen some signs of recovery
according to a Care Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to
raise $ 500 million via a US initial public offering. Alibaba,
which owns a stake in Weibo is expected to raise
about $ 15 billion New York this year in the highest profile Internet IPO since
Facebook’s in 2012.
Bharti Airtel has raised
Rs.2,453.2 crore (350 million Swiss Francs) by
selling six-year bonds at a coupon rate of three per cent and maturing in 2020.
This is the largest ever bond offering by an Indian company in Swiss Francs. Bharat Petroleum Corporation raised 175 million Swiss
Francs by selling five year bonds at 2.98 % coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex at its almost
complete Paradip refinery in Odhisha
in three to four years. The company board is set to consider the setting up of
a 700000 tonne per annum polypropylene plant at an
estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye
Labs-Facebook type deals in the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Long term: “BB” (Suspended) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term: “A4” (Suspended) |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
February 2014 |
Reason: Inability to carry out rating in the absence
of requisite information from the company.
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. Hemant Pandya |
|
Designation : |
Senior Manager Accounts |
|
Contact No.: |
91-22-27670838 |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office : |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne
MIDC, Vashi, Navi Mumbai
– 400705, Maharashtra, India |
|
Tel. No.: |
91-22-27670838/ 30914300 / 30914323 / 30914320 |
|
Fax No.: |
91-22-27671065 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory: |
Plot - CH-10, GIDC, Taluka Vagra Dahej, District Bharuch, Gujarat, India |
DIRECTORS
As on: 26.09.2013
|
Name : |
Mr. Mukesh Shantilal
Bhuta |
|
Designation : |
Managing Director |
|
Address : |
1101, Alaknanda CHS Limited, 7th
|
|
Date of Birth/Age : |
12.08.1953 |
|
Qualification : |
Science Graduate, B.E. Tech |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
AAAPB7437Q |
|
DIN No.: |
00801515 |
|
|
|
|
Name : |
Dr. Vaman Jasvantrai
Mehta |
|
Designation : |
Director |
|
Address : |
24, Garodia Palace, 198, Garodia
Nagar, Ghatkopar (East),
Mumbai – 400 077, |
|
Date of Birth/Age : |
08.01.1934 |
|
Date of Appointment : |
02.11.2007 |
|
PAN No.: |
AAAPM9031F |
|
DIN No.: |
01214512 |
|
|
|
|
Name : |
Mr. Ajit Shantilal
Bhuta |
|
Designation : |
Director |
|
Address : |
1102, Alaknanda CHS Limited, 7th Rajawadi Road, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1951 |
|
Date of Appointment : |
02.11.2007 |
|
PAN No.: |
AABPB0541Q |
|
DIN No.: |
00802006 |
|
|
|
|
Name : |
Mr. Chandulal Kalidas
Shah |
|
Designation : |
Director |
|
Address : |
64/A, Manju Niketan,
Opposite Topiwala Cinema, Topiwala
Compound, S.V. Road, Goregaon (West), Mumbai – 400
062, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1941 |
|
Date of Appointment : |
29.09.2008 |
|
PAN No.: |
AADPS9643Q |
|
DIN No.: |
01977071 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant Pandya |
|
Designation : |
Senior Manager Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.09.2013
|
Names of Shareholders |
No. of Shares |
|
Mukesh Shantilal Bhuta |
8400000 |
|
Vaman Jasvantrai
Mehta |
960000 |
|
Jayshree Ajit Bhuta |
300000 |
|
Ajit Shantilal Bhuta |
300000 |
|
Harsh Vaman Mehta |
120000 |
|
Medha Mukesh Bhuta |
600000 |
|
Hema C Shah and Vaman
Jasvantrai Mehta |
120000 |
|
Mikhail Mukesh Bhuta
|
1200000 |
|
|
|
|
TOTAL
|
12000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Polyurethane Raw Material Form of Chemical
System. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Polyols |
MT |
17100 |
10819 |
NOTE:
1.
Licensed capacity is not applicable in view of the
company’s products having been de-licensed as per new licensing policy
announced by the Government of India.
2.
Installed capacity is as certified by the
management and accepted by auditors as this is a technical matter.
GENERAL INFORMATION
|
No. of Employees : |
100 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
· Standard Chartered Bank, Sme Credit, Crescenzo, 3a/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India · Kotak Mahindra Prime Limited, 36-38A Nariman Bhavan, 227, Nariman Point, Mumbai - 400021, Maharashtra, India · Bank of India, Andheri Mid Corporate Branch, 28, MDI Building, 1st Floor, S. V. Road, Andheri (West), Mumbai - 400058, Maharashtra, India |
|||||||||||||||||||||||||||
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|||||||||||||||||||||||||||
|
Facilities : |
(Rs. In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C M Gabhawala and Company Chartered Accountants |
|
Address : |
42, Nanik Nivas, 30, Dr. D. D. Sathe Marg, Girgaum, Mumbai – 400004, Maharashtra, India |
|
PAN No.: |
AAAFC1255D |
CAPITAL STRUCTURE
As on: 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs. 120.000 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 |
120.000 |
120.000 |
100.000 |
|
(b) Reserves & Surplus |
54.405 |
17.160 |
(1.176) |
|
(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) |
174.405 |
137.160 |
98.824 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
179.291 |
190.787 |
204.204 |
|
(b) Deferred tax liabilities
(Net) |
11.705 |
2.382 |
8.591 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.557 |
9.048 |
0.063 |
|
Total
Non-current Liabilities (3) |
195.553 |
202.217 |
212.858 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
284.915 |
329.790 |
278.431 |
|
(b) Trade payables |
517.501 |
487.454 |
275.031 |
|
(c) Other current liabilities |
165.762 |
142.468 |
122.141 |
|
(d) Short-term provisions |
9.040 |
0.872 |
0.000 |
|
Total
Current Liabilities (4) |
977.218 |
960.584 |
675.603 |
|
|
|
|
|
|
TOTAL |
1,347.176 |
1,299.961 |
987.285 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
431.841 |
392.582 |
334.054 |
|
(ii) Intangible Assets |
0.043 |
0.047 |
1.570 |
|
(iii) Capital work-in-progress |
49.775 |
34.465 |
1.920 |
|
(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 |
15.859 |
6.289 |
2.911 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
497.518 |
433.383 |
340.455 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
270.756 |
250.684 |
249.951 |
|
(c) Trade receivables |
407.871 |
412.584 |
252.570 |
|
(d) Cash and cash equivalents |
52.346 |
77.942 |
60.171 |
|
(e) Short-term loans and
advances |
116.232 |
119.326 |
83.329 |
|
(f) Other current assets |
2.453 |
6.042 |
0.809 |
|
Total
Current Assets |
849.658 |
866.578 |
646.830 |
|
|
|
|
|
|
TOTAL |
1,347.176 |
1,299.961 |
987.285 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
2563.415 |
2050.268 |
1351.537 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
79.994 |
36.568 |
(25.467) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
28.422 |
24.233 |
12.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
50.571 |
12.335 |
(37.766) |
|
|
|
|
|
|
|
|
|
|
TAX |
10.518 |
(6.001) |
3.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
40.053 |
18.336 |
(41.448) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.160 |
(5.176) |
36.272 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend [Including Dividend Tax] |
2.808 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
46.405 |
13.160 |
(5.176) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
225.196 |
50.204 |
22.654 |
|
|
|
Commission Received |
15.327 |
11.076 |
10.382 |
|
|
TOTAL EARNINGS |
240.523 |
61.280 |
33.036 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
809.898 |
|
|
|
Capital Goods |
|
|
0.059 |
|
|
TOTAL IMPORTS |
1335.805 |
1112.774 |
809.957 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.34 |
1.53 |
(4.14) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.90 |
0.97
|
(3.83) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.09
|
(0.38) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth)
|
|
2.66 |
3.80
|
4.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.90
|
0.96 |
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 |
100.000 |
120.000 |
120.000 |
|
Reserves & Surplus |
(1.176) |
17.160 |
54.405 |
|
Net
worth |
98.824 |
137.160 |
174.405 |
|
|
|
|
|
|
long-term borrowings |
204.204 |
190.787 |
179.291 |
|
Short term borrowings |
278.431 |
329.790 |
284.915 |
|
Total
borrowings |
482.635 |
520.577 |
464.206 |
|
Debt/Equity
ratio |
4.884 |
3.795 |
2.662 |
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) |
|
Total Revenue |
1,351.537 |
2,050.268 |
2,563.415 |
|
|
|
51.699 |
25.028 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Total Revenue |
1,351.537 |
2,050.268 |
2,563.415 |
|
Profit |
(41.448) |
18.336 |
40.053 |
|
|
(3.07)% |
0.89% |
1.56% |
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 |
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advances from directors |
108.817 |
100.962 |
|
Other loans and advances, others |
6.434 |
6.717 |
|
|
|
|
|
Total |
115.251 |
107.679 |
OPERATIONS
The company has earned total revenue of Rs. 2563.415 millions (Previous year Rs. 2050.268 millions) thereby registering an increase of 25% over the previous year, during the year, and incurred profit after tax of Rs.40.053 millions (Previous year Rs.18.335 millions).
With the increased availability of main raw material, Propylene Oxide on account of bulk storage tank at Gujarat Chemical Port Terminal Company Limited. At Dahej Port, and with good demand for the products, the company has put up one more line of production at Dahej unit during the year which will commence production in 2013-14.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466706 |
29/10/2013 |
50,000,000.00 |
BANK OF INDIA |
ANDHERI MID CORPORATE BRANCH, 28, MDI BLDG., 1ST |
B92174937 |
|
2 |
10417463 |
22/07/2013 * |
200,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
B80574486 |
|
3 |
10259623 |
11/12/2010 |
341,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH,DESAI NIWAS, M. G. ROAD, GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
B02731800 |
|
4 |
10243694 |
06/09/2010 |
580,300.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH,DESAI NIWAS,, M. G. ROAD, GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A96189766 |
|
5 |
10238730 |
31/07/2010 |
75,000,000.00 |
BANK OF INDIA |
GHATKOPAR (WES) BRANCH, DESAI NIWAS,, M. G. ROAD, |
A94006111 |
|
6 |
10245424 |
29/11/2009 |
12,050,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A88597224 |
|
7 |
10191623 |
03/11/2009 |
240,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH DESAI NIWAS, M. G. ROAD GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A74750050 |
|
8 |
10191626 |
03/11/2009 |
345,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH DESAI NIWAS, M. G. ROAD GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A74750183 |
|
9 |
10192362 |
03/11/2009 |
349,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH DESAI NIWAS, M. G. ROAD GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A75252403 |
|
10 |
10083710 |
20/11/2008 * |
4,400,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH, DESAI NIWAS, M. G. ROAD, |
A50964378 |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Factory building
·
Plant and equipment
·
Factory equipment’s
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipment’s
·
Other equipment’s
Intangible assets
·
Computer software
·
Know-how
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. 60.26 |
|
|
1 |
Rs. 100.71 |
|
Euro |
1 |
Rs. 83.27 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
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 |
|
28 |
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.