MIRA INFORM REPORT
|
Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
VANDANA GLOBAL LIMITED [w.e.f.07.08.2002] |
|
|
|
|
Formerly Known
As : |
VANDANA GLOBAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
The Capital
Office No. 903, ‘B’ Wing, 9th Floor, Plot No. C-70, BKC Bandra
(East), Mumbai-400051, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
12.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-219948 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.96.257
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51101MH1996PLC219948 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMV13026G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV2018E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Sponge and Steel, Power, Ferro
Alloys and Trading of Iron Ore Fines. |
|
|
|
|
No. of Employees
: |
625 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 7288400 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has filed the latest financial for the year 2013 but
same could not be made available from government department. As per available financial record of 2012, the rating takes into
consideration companies below average financial risk profile and dip in
profitability of the company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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 |
CARE |
|
Rating |
BB+ [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
07.02.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 [Short Term] |
|
Rating Explanation |
Minimal degree of safety and highest credit risk. |
|
Date |
07.02.2014 |
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 PARTED BY
|
Name : |
Mr. Pankaj Baldua |
|
Designation : |
General Manager - Finance Department |
|
Contact No.: |
91-9301721710 |
|
Date : |
15.04.2014 |
LOCATIONS
|
Registered Office : |
The Capital
Office No. 903, ‘B’ Wing, 9th Floor, Plot No. C-70, BKC Bandra
(East), Mumbai-400051, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9301721710 [Mr. Pankaj Baldua] |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Vandana Bhawan, M.G. Road, Raipur - 492001, Chhattisgarh, India |
|
Tel. No.: |
91-771-4030440 |
|
|
|
|
Factory : |
Siltara Industrial Area, Phase – 2, Siltara, Raipur – 493111,
Chhattisgarh, India |
|
Tel. No.: |
91-771-2407250/ 2535440 |
|
Fax No.: |
91-771-2407253 |
|
Area : |
10 acres |
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Gopal Prasad Agrawal |
|
Designation : |
Managing director |
|
Address : |
“Vandana” 21/54 Opposite Civil Lines, Telephone Exchange, Civil Lines,
Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
27.06.1956 |
|
Qualification : |
M.Com, LLB |
|
Date of Appointment : |
12.02.1996 |
|
PAN No.: |
ADVPA4105C |
|
DIN No.: |
00103805 |
|
|
|
|
Name : |
Mr. Vijit Kumar Agrawal |
|
Designation : |
Whole-time director |
|
Address : |
“Vandana” 21/54 Opposite Civil Lines, Telephone Exchange, Civil Lines,
Raipur – 492001, Chhattisgarh, India |
|
Date of Birth/Age : |
28.08.1980 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
02.02.2004 |
|
PAN No.: |
ADVPA4191Q |
|
DIN No.: |
00103847 |
|
|
|
|
Name : |
Mr. Krishna Chandra Kukaraiti |
|
Designation : |
Director |
|
Address : |
HIG-II/84, Sector 4, Dindayal Upadhayay Nagar, Danganiya, Raipur –
492010, Chhattisgarh, India |
|
Date of Birth/Age : |
25.03.1942 |
|
Date of Appointment : |
01.07.2013 |
|
DIN No.: |
01119075 |
|
|
|
|
Name : |
Mr. Nirmal Kumar Chaudhari |
|
Designation : |
Whole-time director |
|
Address : |
6, Prasad, Zenith Staff Colony, Khopoli, Raigad – 410203, Maharashtra,
India |
|
Date of Birth/Age : |
01.04.1959 |
|
Date of Appointment : |
02.08.2012 |
|
DIN No.: |
01705352 |
|
|
|
|
Name : |
Mr. Dipen Vasant Parekh |
|
Designation : |
Additional director |
|
Address : |
501, 5th Floor, Umerji House, Telli Gully, Andheri [East], Mumbai
– 400069, Maharashtra, India |
|
Date of Birth/Age : |
28.03.1960 |
|
Date of Appointment : |
20.03.2012 |
|
DIN No.: |
03227898 |
KEY EXECUTIVES
|
Name : |
Mr. Pankaj Baldua |
|
Designation : |
General Manager - Finance Department |
|
|
|
|
Name : |
Mr. Ajay Tipte |
|
Designation : |
Company Secretary |
|
Address : |
LIG – 534, Padmanabhpur Durg - 491001, Chhattisgarh, India |
|
Date of Birth/Age : |
19.05.1984 |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AGAPT2828D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED.
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
91.75 |
|
Directors
or relatives of directors |
|
8.25 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Sponge and Steel, Power, Ferro
Alloys and Trading of Iron Ore Fines. |
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|
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Products : |
|
||||||||
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||||||||
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Exports : |
|
||||||||
|
Products : |
Ferro Alloys |
||||||||
|
Countries : |
European Countries |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Scrap |
||||||||
|
Countries : |
European Countries |
||||||||
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|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
LC / Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
LC / Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2010]
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production [Qty] |
|
Sponge Iron |
M.T. |
500000 |
231000 |
156068.000 |
|
M.S. Ingots/ M.S. Billet |
M.T. |
150000 |
129600 |
-- |
|
Power Plant |
MW |
72.50 |
40.05 |
-- |
|
Silico Manganese/ Ferro Manganese |
M.T. |
18000 |
18000 |
3114.500 |
GENERAL INFORMATION
|
No. of Employees : |
625 [Approximately] |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
Bamb Taori and Company Chartered Accountants |
|
Address : |
B-36/5,
Shilendra Nagar, Raipur, Chhattisgarh, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFB6620M |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Chaturvedi and Shah Chartered Accountants |
|
Address : |
714-715, Tulsiani
Chambers, 212, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFC0662N |
|
|
|
|
Joint Venture
Company : |
|
|
|
|
|
Subsidiaries : |
|
|
|
|
|
Other Related
Parties : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9750000 |
Equity Shares |
Rs.10/- each |
Rs.97.500 Millions |
|
3250000 |
Preferences Shares |
Rs.10/- each |
Rs.32.500 Millions |
|
|
TOTAL
|
|
Rs.130.000
Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9625653 |
Equity Shares |
Rs.10/- each |
Rs.96.257
Millions |
|
3250000 |
Preferences Shares |
Rs.10/- each |
Rs.32.500
Millions |
|
|
TOTAL |
|
Rs.128.757 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9625653 |
Equity Shares |
Rs.10/- each |
Rs.96.257
Millions |
|
3025000 |
Preferences Shares |
Rs.10/- each |
Rs.30.250
Millions |
|
|
TOTAL |
|
Rs.126.507 Millions |
|
|
|
|
|
AS ON 31.03.2012
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 |
|
|
|
|
|
|
9625653 |
Equity Shares |
Rs. 10/- each |
Rs.96.257
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
96.257 |
96.257 |
|
(b) Reserves & Surplus |
|
1725.860 |
1570.762 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
1822.117 |
1667.019 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
228.307 |
466.244 |
|
(b) Deferred tax liabilities (Net) |
|
224.560 |
271.066 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
Long-term provisions |
|
9.440 |
10.316 |
|
Total
Non-current Liabilities (3) |
|
462.307 |
747.626 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1293.710 |
1073.410 |
|
(b)
Trade payables |
|
589.592 |
499.862 |
|
(c)
Other current liabilities |
|
358.002 |
417.870 |
|
(d)
Short-term provisions |
|
56.536 |
59.960 |
|
Total
Current Liabilities (4) |
|
2297.840 |
2051.102 |
|
|
|
|
|
|
TOTAL |
|
4582.264 |
4465.747 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
1372.393 |
1562.385 |
|
(ii)
Intangible Assets |
|
18.839 |
22.259 |
|
(iii)
Capital work-in-progress |
|
237.812 |
96.639 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
339.478 |
244.830 |
|
(c) Deferred tax assets
(net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
|
676.825 |
752.542 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
2645.347 |
2678.655 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
937.914 |
672.810 |
|
(c)
Trade receivables |
|
302.354 |
472.842 |
|
(d)
Cash and cash equivalents |
|
177.572 |
96.462 |
|
(e)
Short-term loans and advances |
|
513.096 |
537.772 |
|
(f)
Other current assets |
|
5.981 |
7.206 |
|
Total
Current Assets |
|
1936.917 |
1787.092 |
|
|
|
|
|
|
TOTAL |
|
4582.264 |
4465.747 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
96.257 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1257.265 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1353.522 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1684.416 |
|
|
2] Unsecured Loans |
|
|
2.315 |
|
|
TOTAL BORROWING |
|
|
1686.731 |
|
|
DEFERRED TAX LIABILITIES |
|
|
264.193 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3304.446 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1671.696 |
|
|
Capital work-in-progress |
|
|
186.376 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
144.859 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
479.467 |
|
|
Sundry Debtors |
|
|
232.617 |
|
|
Cash & Bank Balances |
|
|
131.352 |
|
|
Other Current Assets |
|
|
138.586 |
|
|
Loans & Advances |
|
|
756.419 |
|
Total
Current Assets |
|
|
1738.441 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
260.868 |
|
|
Other Current Liabilities |
|
|
118.455 |
|
|
Provisions |
|
|
57.603 |
|
Total
Current Liabilities |
|
|
436.926 |
|
|
Net Current Assets |
|
|
1301.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3304.446 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
5285.009 |
4423.363 |
3848.911 |
|
|
Other Income |
39.800 |
13.265 |
31.602 |
|
|
TOTAL (A) |
5324.809 |
4436.628 |
3880.513 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
4204.205 |
3043.988 |
|
|
|
Purchases of Stock-in-Trade |
1.562 |
91.129 |
|
|
|
Changes in inventories of finished goods,
work-in-progress and Stock-in-Trade |
(141.713) |
(33.117) |
2983.493 |
|
|
Employees benefits expense |
200.219 |
138.563 |
|
|
|
Other expenses |
454.267 |
310.986 |
|
|
|
TOTAL (B) |
4718.540 |
3551.549 |
2983.493 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
606.269 |
885.079 |
897.02 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
262.166 |
220.291 |
165.949 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION
AND AMORTISATION (C-D) (E) |
344.103 |
664.788 |
731.071 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
233.872 |
259.242 |
287.492 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
110.231 |
405.546 |
443.579 |
|
|
|
|
|
|
|
Less |
TAX (H) |
(44.867) |
92.049 |
96.056 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
155.098 |
313.497 |
347.523 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE BROUGHT
FORWARD (K) |
1050.712 |
737.215 |
389.692 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE B/S |
1205.810 |
1050.712 |
737.215 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN CURRENCY |
|
|
|
|
|
Export Earnings |
NA |
0.000 |
80.600 |
|
|
TOTAL EARNINGS |
NA |
0.000 |
80.600 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
35.158 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
35.158 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share (Rs.) |
16.11 |
32.57 |
36.16 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.91
|
7.07 |
8.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.09
|
9.17 |
11.52 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.75
|
9.83 |
13.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.24 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.84
|
0.92 |
1.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
0.87 |
3.98 |
FINANCIAL ANALYSIS
[all figures are in
Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs. In Millions) |
(Rs. In Millions) |
|
Share Capital |
|
96.257 |
96.257 |
|
Reserves & Surplus |
|
1570.762 |
1725.86 |
|
Net worth |
|
1667.019 |
1822.117 |
|
|
|
|
|
|
long-term borrowings |
|
466.244 |
228.307 |
|
Short term borrowings |
|
1073.410 |
1293.710 |
|
Total borrowings |
|
1539.654 |
1522.017 |
|
Debt/Equity ratio |
|
0.924 |
0.835 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3848.911 |
4423.363 |
5285.009 |
|
|
|
14.925 |
19.479 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
3848.911 |
4423.363 |
5285.009 |
|
Profit |
347.523 |
313.497 |
155.098 |
|
|
9.03% |
7.09% |
2.93% |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
254.109 |
274.570 |
NA |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
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 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 |
No |
|
18] |
Major customers |
No |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
INDEX OF CHARGES:
|
S. NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10486508 |
29/03/2014 * |
550,000,000.00 |
ORIENTAL BANK OF COMMERCE |
TATYAPARA CHOWK, G.E.
ROAD, RAIPUR - 492001, CHHATTISGARH , INDIA |
C01035054 |
|
2 |
10483146 |
08/02/2014 |
10,000,000.00 |
INDIAN OVERSEAS BANK |
310, STATION ROAD, RAIPUR
- 492001, CHHATTISGARH, |
B98697014 |
|
3 |
10473224 |
09/12/2013 * |
10,000,000.00 |
ORIENTAL BANK OF COMMERCE |
G.E. ROAD, RAIPUR -
492001, CHHATTISGARH, INDIA |
B94951720 |
|
4 |
10455462 |
16/10/2013 |
2,416,000.00 |
L & T FINANCE LIMITED |
L&T HOUSE,, BALLARD ESTATE,,
MUMBAI - 400001, MAHARASHTRA , INDIA |
B87693842 |
|
5 |
10450839 |
28/09/2013 |
666,311,800.00 |
IDBI BANK |
DIFC BRANCH, DUBAI, -
150, UNITED ARAB EMIRATES |
B85660496 |
|
6 |
10426689 |
29/04/2013 * |
400,000,000.00 |
ORIENTAL BANK OF COMMERCE |
G.E. ROAD, RAIPUR -
492001, CHHATTISGARH, INDIA |
B75893297 |
|
7 |
10416641 |
20/03/2013 * |
980,000,000.00 |
ORIENTAL BANK OF COMMERCE |
MAIN BRANCH, RAJ TOWER,
TATYAPARA CHOWK, RAIPUR - 492001, |
B72641277 |
|
8 |
10415081 |
18/03/2013 |
581,042,000.00 |
IDBI BANK LIMITED |
IDBI TOWER, W.T.C.
COMPLEX, CUFFE PARADE, MUMBAI - 400005, |
B71858526 |
|
9 |
10300523 |
30/06/2011 |
2,360,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT
MARG, LOWER PAREL (WEST), MUMBAI - 400013, MAHARASHTRA, INDIA |
B18178277 |
|
10 |
10289292 |
19/05/2011 |
208,000,000.00 |
BANK OF INDIA |
MID CORPORATE BRANCH,
RAIPUR - 492001, CHHATTISGARH, INDIA |
B13913033 |
* Date of charge modification
PERFORMANCE REVIEW:
During the year, the
Company has achieved an aggregate turnover of Rs. 5762.900 Millions registering
an increase of 20.84 % over the previous year’s Rs. 4769.000 Millions. Profit
after tax stands at Rs. 155.100 Millions. Reserves and Surplus have increased
to Rs. 1725.900 Millions as compared to last year’s Rs. 1570.800 Millions
|
Unsecured Loan |
As
on 31.03.2012 [Rs.
in Millions] |
As
on 31.03.2011 [Rs.
in Millions] |
|
Short Term
Borrowings |
|
|
|
Working capital loans from banks |
0.771 |
960.596 |
|
Loans repayable on demand |
0.000 |
100.530 |
|
Inter-corporate borrowings |
0.000 |
11.734 |
|
Deferred payment liabilities |
0.000 |
0.550 |
|
TOTAL
|
0.771 |
1073.410 |
FIXED ASSETS:
- Land
- Building
- Factory building
- Plant and Machinery
- Computer and Equipments
- Furniture and Fixtures
- Vehicles
- Motor vehicles
- Computer software
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.60.23 |
|
|
1 |
Rs.100.79 |
|
Euro |
1 |
Rs.83.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
34 |
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.