MIRA INFORM REPORT
|
Report Date : |
24.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
CETEX PETROCHEMICALS LIMITED |
|
|
|
|
Registered
Office : |
Manali Industrial Area, Chennai – 600 068, Tamil Nadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.03.2003 |
|
|
|
|
Com. Reg. No.: |
18-050501 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.300.589 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24119TN2003PLC050501 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC05298G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCC3144N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Methyl Ethyl Ketone (MEK) and Secondary Butyl Alcohol (SBA) |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
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 7200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established
company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Trade relations are fair.
Business is active. Payment terms are reported to be usually correct. The company can be considered
for business dealings at usual trade terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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 |
CARE |
|
Rating |
Long Term Bank Facilities = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
September 05, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk |
|
Date |
September 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 DENIED
Management non co-operative
Tel. No. 91-44-25941358 / 59, 91-44-24464818
LOCATIONS
|
Registered Office/Factory : |
Manali Industrial Area, Chennai – 600 068, Tamilnadu, India |
|
Tel. No.: |
91-44-25941358 / 59 / 24464818 / 89 |
|
Fax No.: |
91-44-25941835 / 25941358 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
52 Acer Fact. |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Old No. T 11/2, New No. 30, Coastal Road, Besant Nagar, Chennai –
600090, Tamilnadu |
|
Tel. No.: |
91-44-24464818 / 819 |
|
Fax No.: |
91-44-24464800 |
|
E-Mail : |
|
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Located at:
|
DIRECTORS
As on: 12.07.2013
|
Name : |
Mr. Sivagnanam Govindasamy Ilahanai |
|
Designation : |
Chairman and Managing Director |
|
Address : |
4, Almol Saraswathi Apartments, 6 Anthu Street, Santhome, Chennai –
600 004, Tamil Nadu, India |
|
Date of Birth/Age : |
24.06.1954 |
|
Qualification : |
Chemical Engineer With Diploma in Business Administration |
|
Date of Appointment : |
24.11.2003 |
|
PAN No.: |
AAAPI2686Q |
|
DIN No.: |
00183497 |
|
|
|
|
Name : |
Mr. Gowthaman Saravana Pillai |
|
Designation : |
Director |
|
Address : |
Old No.12, New No.10, L Block, 26th Street, Anna Nagar
East, Chennai – 600102, Tamil Nadu, India |
|
Date of Birth/Age : |
21.08.1961 |
|
Qualification : |
B.E Electrical |
|
Experience : |
27 Years |
|
Date of Appointment : |
07.07.2011 |
|
PAN No.: |
AAIPG3947J |
|
DIN No.: |
01602327 |
|
|
|
|
Name : |
Mr. R. Kannan Ramamurthy |
|
Designation : |
Director |
|
Address : |
Old No. 43/2, New No. 30/2, Abhiramapuram 3rd Street,
Abhiramapuram, Chennai – 600018, Tamil Nadu, India |
|
Date of Birth/Age : |
26.03.1960 |
|
Qualification : |
M Tech (Chemical) |
|
Experience : |
12 Years |
|
Date of Appointment : |
07.07.2011 |
|
PAN No.: |
AAMPK5888L |
|
DIN No.: |
03141495 |
|
|
|
|
Name : |
Mr. Ayyappankave Hariharan Krishnamurthy |
|
Designation : |
Director |
|
Address : |
No.17/1 Agasthiyar Street, Gandhi Nagar, Sailgramam, Chennai – 600093,
Tamil Nadu, India |
|
Date of Birth/Age : |
21.05.1949 |
|
Qualification : |
M.Sc. (Agri) and CAIIB |
|
Date of Appointment : |
12.06.2011 |
|
DIN No.: |
03550236 |
|
|
|
|
Name : |
Mr. Jegadeesan Sivanandaraaj |
|
Designation : |
Director |
|
Address : |
No.16,Kistian Beach Street, Santhome, Chennai – 600004, Tamil Nadu,
India |
|
Date of Birth/Age : |
24.07.1970 |
|
Date of Appointment : |
07.07.2011 |
|
DIN No.: |
03555891 |
|
|
|
|
Name : |
Mr. Chidambaram Manickam |
|
Designation : |
Director |
|
Address : |
D1-120, Bonnavenue, Indian Institute of Technology, Chennai – 600036,
Tamil Nadu, India` |
|
Date of Birth/Age : |
01.05.1952 |
|
Qualification : |
Ph.D. |
|
Date of Appointment : |
24.05.2012 |
|
DIN No.: |
05283863 |
|
|
|
|
Name : |
Mrs. Vanitha Mahesh |
|
Designation : |
Director |
|
Address : |
A2, Oak Wood Apartments No.25, Anderson Road, Nungambakkam, Chennai –
600034, Tamil Nadu, India |
|
Date of Birth/Age : |
27.04.1971 |
|
Date of Appointment : |
20.12.2012 |
|
DIN No.: |
02490693 |
|
|
|
|
Name : |
Mr. Triplicani Gowrihankar Subramanian Mahesh |
|
Designation : |
Director |
|
Address : |
A2, Oak Wood Apartments No.25, Anderson Road, Nungambakkam, Chennai –
600034, Tamil Nadu, India |
|
Date of Birth/Age : |
11.08.1969 |
|
Qualification : |
BE and MBA |
|
Date of Appointment : |
20.12.2012 |
|
DIN No.: |
02490717 |
|
|
|
|
Name : |
Mr. Badribarayan Choudhary Kota |
|
Designation : |
Director |
|
Address : |
C-3,3 Praveens Vella AP 35, Gajapatthy St., Shenoy Nagar, Chennai –
600030, Tamil Nadu, India |
|
Date of Birth/Age : |
11.05.1977 |
|
Qualification : |
B.E (Computer Science) |
|
Date of Appointment : |
12.06.2012 |
|
DIN No.: |
00685606 |
KEY EXECUTIVES
|
Name : |
Mr. V. Sasi Kumar |
|
Designation : |
Secretary |
|
Address : |
No.15, East Street, Kundrathur Natham, Chennai – 600069, Tamil Nadu,
India |
|
Date of Birth/Age : |
30.05.1989 |
|
Date of Appointment : |
15.11.2012 |
|
PAN No.: |
CYHPS1124C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 12.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
S. Ilanahai |
|
8,080,666 |
|
Sujatha Ilanahai |
|
871,429 |
|
Yazhini Ilanahai |
|
871,430 |
|
A.J. Attanathi |
|
50,016 |
|
S. Gowthaman |
|
16 |
|
S. Somasundaram |
|
8 |
|
Bavan Jacob |
|
8 |
|
S. Narayanaswamy |
|
20,016 |
|
R. Kannan |
|
16 |
|
G. Sekar |
|
20,928 |
|
Shalini Ilanahai |
|
871,430 |
|
S. Chitra |
|
75,000 |
|
A.E Savithri |
|
75,000 |
|
Vijaya Sundaramurthy |
|
50,000 |
|
Sentamaral Selvi |
|
30,184 |
|
Periyanayaki Ravi |
|
38,853 |
|
T. Anbalagan |
|
50,000 |
|
R. Balakrishnan |
|
20,000 |
|
Srilakshmi Srinivasan |
|
50,000 |
|
Navin Prabhu |
|
20,000 |
|
S. Padma |
|
100,000 |
|
G. Charulatha |
|
120,000 |
|
Sree Lakshmi Kannan |
|
100,000 |
|
Monimozhi Somasundaram |
|
85,000 |
|
Wayne-Burt Petro Chemical Private Limited, India |
|
10,694,955 |
|
Sacredbanyan Infra Private Limited, India |
|
9,057,971 |
|
|
|
|
|
Total |
|
31,352,926 |
Equity Share Break up (Percentage of Total Equity)
As on: 12.07.2013
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
63.00 |
|
Directors or relatives of directors |
|
34.11 |
|
Other top fifty shareholders |
|
2.89 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Methyl Ethyl Ketone (MEK) and Secondary Butyl
Alcohol (SBA) |
||||||
|
|
|
||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
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|
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|
Facilities : |
(Rs.
In Millions)
|
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|
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|
Banking
Relations : |
-- |
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|
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|
Auditors : |
|
|||||||||||||||||||||||||||||||||
|
Name : |
Padmanabhan Ramani and Ramanujam Chartered Accountants |
|||||||||||||||||||||||||||||||||
|
Address : |
1F, Arudhra, New NO. 15, |
|||||||||||||||||||||||||||||||||
|
Tel. No.: |
91-44-45502181 |
|||||||||||||||||||||||||||||||||
|
Fax No.: |
91-44-45502183 |
CAPITAL STRUCTURE
After 12.07.2013
Authorised Capital: Rs.450.000
Millions
Issued, Subscribed & Paid-up Capital: Rs.440.341 Millions
As on: 12.07.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45,000,000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31,352,926 |
Equity Shares |
Rs.10/- each |
Rs.313.529
Millions |
|
|
|
|
|
As on: 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
45,000,000 |
Equity Shares |
Rs.10/- each |
Rs.450.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,058,930 |
Equity Shares |
Rs.10/- each |
Rs.300.589
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 |
300.589 |
150.000 |
100.000 |
|
(b) Reserves & Surplus |
1481.755 |
1297.814 |
31.386 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
15.000 |
0.000 |
25.413 |
|
Total Shareholders’ Funds (1) + (2) |
1797.344 |
1447.814 |
156.799 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
62.063 |
86.988 |
110.451 |
|
(b) Deferred tax
liabilities (Net) |
55.209 |
53.019 |
42.608 |
|
(c)
Other long term liabilities |
3.768 |
40.930 |
0.836 |
|
(d)
long-term provisions |
0.000 |
0.000 |
2.498 |
|
Total
Non-current Liabilities (3) |
121.040 |
180.937 |
156.393 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
207.255 |
260.791 |
281.814 |
|
(b)
Trade payables |
127.505 |
108.370 |
156.158 |
|
(c)
Other current liabilities |
120.584 |
136.919 |
116.342 |
|
(d)
Short-term provisions |
2.072 |
1.397 |
1.412 |
|
Total
Current Liabilities (4) |
457.416 |
507.477 |
555.726 |
|
|
|
|
|
|
TOTAL |
2375.800 |
2136.228 |
868.918 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1579.585 |
1593.755 |
398.223 |
|
(ii)
Intangible Assets |
0.045 |
0.305 |
0.565 |
|
(iii)
Capital work-in-progress |
69.730 |
39.829 |
12.517 |
|
(iv) Intangible assets under
development |
1.322 |
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 |
78.896 |
12.760 |
4.305 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1729.578 |
1646.649 |
415.610 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
265.053 |
211.026 |
129.334 |
|
(c)
Trade receivables |
208.815 |
204.204 |
111.357 |
|
(d)
Cash and cash equivalents |
95.328 |
16.013 |
30.866 |
|
(e)
Short-term loans and advances |
33.409 |
23.667 |
146.240 |
|
(f)
Other current assets |
43.617 |
34.669 |
35.511 |
|
Total
Current Assets |
646.222 |
489.579 |
453.308 |
|
|
|
|
|
|
TOTAL |
2375.800 |
2136.228 |
868.918 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1311.349 |
1159.176 |
957.458 |
|
|
Other Income |
1.252 |
1.422 |
1.215 |
|
|
TOTAL (A) |
1312.601 |
1160.598 |
958.673 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
810.755 |
757.695 |
543.067 |
|
|
Purchases of
Stock-in-Trade |
169.307 |
46.132 |
103.467 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(17.689) |
(5.951) |
3.168 |
|
|
Employees benefits
expense |
25.854 |
31.419 |
35.546 |
|
|
Other expenses |
173.046 |
179.552 |
151.528 |
|
|
Exceptional items |
0.000 |
(29.794) |
1.196 |
|
|
TOTAL (B) |
1161.273 |
979.053 |
837.972 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
151.328 |
181.545 |
120.701 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
67.383 |
69.968 |
64.539 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
83.945 |
111.577 |
56.162 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
25.375 |
24.313 |
24.982 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
58.570 |
87.264 |
31.180 |
|
|
|
|
|
|
|
Less |
TAX (H) |
13.638 |
27.482 |
16.015 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
44.932 |
59.782 |
15.165 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
Basic |
2.67 |
5.20 |
1.03 |
|
|
Diluted |
2.67 |
5.20 |
0.82 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.42 |
5.15 |
1.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.47 |
7.53 |
3.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.54 |
4.16 |
3.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.06 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15 |
0.24 |
2.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41 |
0.96 |
0.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
100.000 |
150.000 |
300.589 |
|
Reserves & Surplus |
31.386 |
1,297.814 |
1,481.755 |
|
Share Application money
pending allotment |
25.413 |
0.000 |
15.000 |
|
Net
worth |
156.799 |
1,447.814 |
1,797.344 |
|
|
|
|
|
|
long-term borrowings |
110.451 |
86.988 |
62.063 |
|
Short term borrowings |
281.814 |
260.791 |
207.255 |
|
Total
borrowings |
392.265 |
347.779 |
269.318 |
|
Debt/Equity
ratio |
2.502 |
0.240 |
0.150 |
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 |
957.458 |
1159.176 |
1311.349 |
|
|
|
21.068 |
13.128 |
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 |
957.458 |
1159.176 |
1311.349 |
|
Profit |
15.165 |
59.782 |
44.932 |
|
|
1.58% |
5.16% |
3.43% |
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 |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Rupee term loans from banks |
10.161 |
11.650 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Working capital loans from banks |
3.388 |
1.723 |
|
Loans repayable on demand from others |
10.579 |
7.908 |
|
|
|
|
|
Total |
24.128 |
21.281 |
INDEX OF CHARGES
|
S.No. |
Charge Id |
Date Of Charge
Creation/Modification |
Charge Amount
Secured |
Charge Holder |
Address |
Service Request
Number (Srn) |
|
1 |
90291573 |
11/03/2013 * |
1,050,900,000.00 |
State Bank of India |
Commercial Branch, No.232 NSC Bose Road, Chennai, |
B70688882 |
* Date of charge modification
FIXED ASSETS
- Computers
- Furniture and
Fixture and Other Equipment’s
- Plant and
Machinery
- Office
Machines and Equipment’s
- Vehicles
- Buildings
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
judgment 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 exist 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.61.07 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.84.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.