MIRA INFORM REPORT
|
Report Date : |
22.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
CREST COMPOSITES AND PLASTICS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Survey No. 609, Village Shetra, District Kheda, Ahmedabad – 387560, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.09.1989 |
|
|
|
|
Com. Reg. No.: |
04-012778 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.14.925 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209GJ1989PTC012778 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC6333R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Polymer Resins. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 440000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses an average financial profile marked by adequate
networth base. Moreover, the management has reported more than anticipated increase
in its debt level on account of setting up of second plant at Dharwad,
Karnataka along with it’s working capital intensive operations which has
slightly affected the financial profile during 2013. Further, the potential revenue which will be earned from the new plant
in the future has also been taken into consideration as a long term
perspective which may support the business profile. The rating also take into consideration the modest scale of operations
and vulnerability of profitability to adverse fluctuation in raw material
prices. Trade relations are fair. Business is active. Payment terms are
reported as slow but correct. In view of extensive experience of the promoters and a stable customer
base of the company, 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 – 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 |
Cash Credit Facility = BB+ |
|
Rating Explanation |
Moderate risk of default and high credit
risk. |
|
Date |
January 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
A4+ (Letter of Credit) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
January 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. Ranjit Sen |
|
Designation : |
Director |
|
Contact No.: |
91-9426175245 |
|
Date : |
22.04.2014 |
LOCATIONS
|
Registered Office : |
Survey No. 609, Village Shetra, District Kheda, Ahmedabad
– 387560, Gujarat, India |
|
Tel. No.: |
91-2694-281351 / 2694281694 / 2694281352 |
|
Mobile No.: |
91-9426175245 (Mr. Ranjit Sen) |
|
Fax No.: |
91-2694-281352 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporative / Administrative Office : |
E-44, Satellite Apartment, Near |
|
Tel. No.: |
91-79-65121758 |
|
Fax No.: |
91-79-66610991 |
|
|
|
|
Factory : |
Belur Industrial Estate, Dharwad, Hubli, Karnataka, India |
|
|
|
|
Branch Office : |
Mumbai, Maharashtra, India |
DIRECTORS
As on: 10.09.2012
|
Name : |
Mr. Ranjitbhai Bimlendo Sen |
|
Designation : |
Director |
|
Address : |
G-44, Satallite Appa Rtment, |
|
Date of Birth/Age : |
28.08.1958 |
|
Date of Appointment : |
22.09.1989 |
|
PAN No.: |
AKGPS2030L |
|
Din No.: |
00471492 |
|
|
|
|
Name : |
Mr. Susantakumar Pramanik |
|
Designation : |
Director |
|
Address : |
C-502, Sagun Caasa, |
|
Date of Birth/Age : |
10.10.1972 |
|
PAN No.: |
AJRPP9555D |
|
Date of Appointment : |
02.02.2007 |
|
Din No.: |
01276292 |
|
|
|
|
Name : |
Mr. Prakash Ramesh Udeshi |
|
Designation : |
Director |
|
Address : |
6, Shridhar IX, Mear Mann Party Plot, Bodakdev, Ahmedabad – 380054,
Gujarat, India |
|
Date of Birth/Age : |
05.10.1972 |
|
PAN No.: |
AAAPU7780K |
|
Date of Appointment : |
05.10.2008 |
|
Din No.: |
01619756 |
|
|
|
|
Name : |
Mr. Raja Gopal Rangachari |
|
Designation : |
Director |
|
Address : |
502-Kanha Parthsar, Tyavnue, 132-Ft. Ring Raod, Satelite, Ahmedabad-380015,
|
|
Date of Birth/Age : |
30.12.1952 |
|
PAN No.: |
ADYPR4650A |
|
Date of Appointment : |
01.07.2005 |
|
Din No.: |
00118219 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 10.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ranjit Sen |
|
63098 |
|
Ashutosh Vaidya |
|
8349 |
|
Sunanda Bose |
|
11830 |
|
Surjit Sen |
|
2761 |
|
Suhita Sinha |
|
328 |
|
Sukhendu Dasgupta |
|
200 |
|
Suparna Sen |
|
3940 |
|
Ashok Sharma |
|
4760 |
|
S B Sharma |
|
180 |
|
V L Gadre |
|
1 |
|
Supriya Sen |
|
5115 |
|
R R Gopal |
|
7598 |
|
Susantkumar Pramanik |
|
500 |
|
Gayatri Sen |
|
590 |
|
Ami Udeshi |
|
3000 |
|
Saraswati Pramanik |
|
7000 |
|
Benasedo Spa |
|
30000 |
|
TOTAL
|
|
149250 |
Equity Share Break up (Percentage of Total Equity)
As on: 10.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
20.10 |
|
Directors or relatives of directors |
|
79.90 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Polymer Resins. |
|
|
|
|
Exports : |
|
|
Products : |
Polymer Resins |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Atul Limited |
||||||||||||||||||||||||
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|
Customers : |
Akzonobel N.V |
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No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||
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Bankers : |
|
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
Total Rs.200.000 Millions (From Oriental Bank of Commerce) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Milind A. Joshi and Associates Chartered Accountants |
|
Address : |
Dharmakook, Rambari, Bhadra, Ahmedabad-380001, Gujarat, India |
|
PAN No.: |
AFZPJ0909F |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.100/- each |
Rs.15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
149250 |
Equity Shares |
Rs.100/- each |
Rs.14.925 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
14.925 |
14.925 |
14.775 |
|
(b) Reserves & Surplus |
95.189 |
88.282 |
81.772 |
|
(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) |
110.114 |
103.207 |
96.547 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
62.797 |
64.389 |
18.025 |
|
(b) Deferred tax liabilities (Net) |
6.666 |
6.465 |
4.059 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
69.463 |
70.854 |
22.084 |
|
|
|
|
|
|
(4) Current
Liabilities |
|
|
|
|
(a) Short term borrowings |
66.641 |
58.799 |
47.270 |
|
(b) Trade payables |
262.289 |
205.297 |
150.272 |
|
(c) Other current liabilities |
48.834 |
28.019 |
6.564 |
|
(d) Short-term provisions |
8.383 |
5.945 |
4.273 |
|
Total Current
Liabilities (4) |
386.147 |
298.060 |
208.379 |
|
|
|
|
|
|
TOTAL |
565.724 |
472.121 |
327.010 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
121.940 |
114.495 |
42.169 |
|
(ii) Intangible Assets |
13.556 |
20.071 |
28.050 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
12.896 |
|
(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 |
0.084 |
0.040 |
0.040 |
|
(e) Other Non-current assets |
0.385 |
0.527 |
0.691 |
|
Total Non-Current
Assets |
135.965 |
135.133 |
83.846 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
82.707 |
66.559 |
55.347 |
|
(c) Trade receivables |
300.823 |
223.710 |
159.839 |
|
(d) Cash and cash equivalents |
28.988 |
21.479 |
11.816 |
|
(e) Short-term loans and advances |
17.241 |
25.240 |
16.162 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
429.759 |
336.988 |
243.164 |
|
|
|
|
|
|
TOTAL |
565.724 |
472.121 |
327.010 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
701.613 |
590.092 |
|
|
|
Other Income |
|
1.027 |
1.697 |
|
|
|
TOTAL (A) |
NA |
702.640 |
591.789 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
589.342 |
497.791 |
|
|
|
Employee Benefits Expenses |
|
15.959 |
12.988 |
|
|
|
Other Expenses |
|
59.395 |
52.044 |
|
|
|
Changes in Inventories of Finished Goods, Stock in Process and Stock
in Trade |
|
(3.168) |
(3.210) |
|
|
|
TOTAL (B) |
NA |
661.528 |
559.613 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
41.112 |
32.176 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
14.345 |
9.127 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
32.007 |
26.767 |
23.049 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
20.914 |
15.337 |
13.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
11.093 |
11.430 |
9.849 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.450 |
4.707 |
2.793 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
8.643 |
6.723 |
7.056 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
38.063 |
35.503 |
31.666 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
2.000 |
2.000 |
|
|
|
Proposed Dividend |
1.493 |
1.866 |
1.108 |
|
|
|
Tax on Dividend |
0.242 |
0.303 |
0.184 |
|
|
BALANCE CARRIED
TO THE B/S |
44.971 |
38.063 |
35.503 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
NA |
3.432 |
1.519 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
56.851 |
87.555 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
57.91 |
45.45 |
54.73 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
1250.000 |
|
|
|
|
|
The above information has been parted by Mr. Ranjit Sen
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
0.96
|
1.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.63
|
1.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.96
|
3.83
|
3.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.11
|
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.17
|
1.19
|
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11
|
1.13
|
1.17 |
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 |
14.775 |
14.925 |
14.925 |
|
Reserves & Surplus |
81.772 |
88.282 |
95.189 |
|
Net
worth |
96.547 |
103.207 |
110.114 |
|
|
|
|
|
|
long-term borrowings |
18.025 |
64.389 |
62.797 |
|
Short term borrowings |
47.270 |
58.799 |
66.641 |
|
Total
borrowings |
65.295 |
123.188 |
129.438 |
|
Debt/Equity
ratio |
0.676 |
1.194 |
1.175 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
590.092 |
701.613 |
|
|
|
18.899 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
590.092 |
701.613 |
|
Profit |
7.056 |
6.723 |
|
|
1.20% |
0.96% |
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 two 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 |
No |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2013 |
As on 31.03.2012 |
|
LONG-TERM
BORROWINGS |
|
|
|
Term loans from banks |
3.241 |
1.425 |
|
Term loans from others |
5.854 |
5.533 |
|
Loans and advances from directors |
4.839 |
9.182 |
|
Loans and advances from others |
7.108 |
0.000 |
|
|
|
|
|
'Total |
21.042 |
16.140 |
OPERATIONS:
The company has performed well as can be analyzed from results given here with. The general economic trend is not very encouraging and inspite of such adverse economic conditions, the company has achieved growth in business. Also Dharwad plant is now fully operational and has started to contribute to the growth of the company.
MARKET SCENARIO :
Due to current economic scenario the general market condition of composite industry is also suffering like any other industry segment. However composites market is set to replace metals in many areas and this will definitely increase consumption of resins.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10471522 |
15/01/2014 |
25,800,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
NAVJIVAN AMRIT JAYANTI BHAVAN, 1ST FLOOR, NAVJIVAN POST, AHMEDABAD, GUJARAT - 380009, INDIA |
B93997286 |
|
2 |
10456930 |
29/10/2013 |
8,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
NAVJIVAN AMRIT JAYANTI BHAVAN, 1ST FLOOR, NAVJIVAN POST, AHMEDABAD, GUJARAT - 380009, INDIA |
B88249560 |
|
3 |
10011734 |
13/01/2014 * |
240,800,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NEAR ASSOCIATED PETROL PUMP, C.G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
B94916475 |
|
4 |
10011732 |
11/01/2014 * |
240,800,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NEAR ASSOCIATED PETROL PUMP, C.G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
B94917531 |
|
5 |
10011733 |
19/07/2006 |
9,500,000.00 |
ORIENTAL BANK OF COMMERCE |
G-2, SAMEDH, NEAR ASSOCIATED PETROL PUMP, C.G. ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
A03028347 |
* Date of charge modification
FIXED ASSETS
- Land
- Shed and Building
- Plant and Machinery
- Laboratory Instruments
- Electrical Installations
- Office Equipments
- Furniture and Fixture
- Vehicle
- Ancillaries Equipments
- Technical 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.60.33 |
|
|
1 |
Rs.101.40 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
42 |
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.