MIRA
INFORM REPORT
|
Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
W H BRADY AND COMPANY LIMITED |
|
|
|
|
Registered
Office : |
Brady House, 12/14, Veer Nariman Road, Fort, Mumbai-400001,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.06.1913 |
|
|
|
|
Com. Reg. No.: |
11-000367 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17110MH1913JPLC000367 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Trader and Importer of Material Handling Equipments. |
|
|
|
|
No. of Employees
: |
40 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2029096 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due high working
capital intensity of operation and highly competitive nature of industry. 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.
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 |
BB – [Long Term Fund Based Limits] |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
December 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. Dharmraj |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-22048361 |
|
Date : |
07.04.2014 |
LOCATIONS
|
Registered / Head Office : |
Brady House, 12/14, Veer Nariman Road, Fort, Mumbai-400001,
Maharashtra, India |
|
Tel. No.: |
91-22-22048361 |
|
Fax No.: |
91-22-22041855 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
14/15 F, Connaught Place, New Delhi, India |
|
Tel. No.: |
91-11-23310212/23314934/46144646-48/23357472 |
|
Fax No.: |
91-11-23327231/46144655 |
|
|
|
|
Branch and Sales Office : |
Located At: ·
Ahmedabad ·
Kolkata ·
Coimbatore ·
Chennai ·
New Delhi |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Pavan G. Morarka |
|
Designation : |
Chairman cum Managing Director |
|
|
|
|
Name : |
Mr. Kaushik D. Shah |
|
Designation : |
Director |
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|
|
|
Name : |
Mr. Pinaki Misra |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Prakash V. Mehta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Vaibhav P. Morarka |
|
Designation : |
Director [Appointed w.e.f. 26.07.2013] |
KEY EXECUTIVES
|
Name : |
Mr. Dharmraj |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Rajender K. Sharma |
|
Designation : |
Chief Operating Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.03.2014
|
Category of
Shareholder |
Total No. of Shares |
Total Shareholding as
a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
887345 |
34.80 |
|
|
1006379 |
39.47 |
|
|
1893724 |
74.26 |
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
1893724 |
74.26 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1552 |
0.06 |
|
|
2211 |
0.09 |
|
|
3763 |
0.15 |
|
|
|
|
|
|
219746 |
8.62 |
|
|
|
|
|
|
303039 |
11.88 |
|
|
91737 |
3.60 |
|
|
37991 |
1.49 |
|
|
36486 |
1.43 |
|
|
1505 |
0.06 |
|
|
652513 |
25.59 |
|
Total Public shareholding (B) |
656276 |
25.74 |
|
Total (A)+(B) |
2550000 |
100.00 |
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
2550000 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Material Handling Equipments. |
|
|
|
|
Imports : |
|
|
Products : |
Finished Goods |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
LC and Credit |
|
|
|
|
Purchasing : |
LC and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
40 [Approximately] |
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Bankers : |
·
Bank of Baroda, Mumbai, Maharashtra, India ·
Axis Bank, Mumbai, Maharashtra, India ·
The Royal Bank of Scotland, N.V., Mumbai,
Maharashtra, India ·
Punjab National Bank, Mumbai, Maharashtra, India |
||||||||||||||||||||||||||||||
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||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
C.L. Dalal and Company Charterd Accountants |
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|
|
|
Associates/Subsidiaries : |
·
Brady and Morris Engg. Company Limited ·
Brady Services Private Limited ·
Brady Telesoft Private Limited ·
Brady Air Private Limited [Formerly Known as
Brady Air Limited] ·
Brady Estates Private Limited [Formerly Known as
Brady Futures Private Limited] ·
Global Tradecrackers Limited |
|
|
|
|
AOP of Subsidiaries : |
Zoeftig Bradys |
|
|
|
|
Joint Venture : |
Brady Ikusi Systems Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2550000 |
Equity Shares |
Rs.10/- each
|
Rs.25.500
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 |
25.500 |
25.500 |
25.500 |
|
(b) Reserves &
Surplus |
481.774 |
479.330 |
483.532 |
|
(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) |
507.274 |
504.830 |
509.032 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
134.038 |
164.221 |
80.244 |
|
(b) Deferred tax
liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
3.408 |
4.667 |
6.204 |
|
(d) long-term provisions |
0.082 |
0.448 |
0.183 |
|
Total Non-current
Liabilities (3) |
137.528 |
169.336 |
86.631 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
24.341 |
21.859 |
23.621 |
|
(b) Trade payables |
1.807 |
2.920 |
1.770 |
|
(c) Other current
liabilities |
41.094 |
37.989 |
19.999 |
|
(d) Short-term provisions |
7.054 |
6.438 |
13.523 |
|
Total Current Liabilities
(4) |
74.296 |
69.206 |
58.913 |
|
|
|
|
|
|
TOTAL |
719.098 |
743.372 |
654.576 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
443.548 |
473.124 |
498.967 |
|
(ii) Intangible Assets |
0.123 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
3.629 |
|
(iv) Intangible assets
under development |
0.000 |
0.136 |
0.136 |
|
(b) Non-current
Investments |
79.478 |
4.428 |
4.428 |
|
(c) Deferred tax assets (net) |
1.769 |
1.118 |
0.516 |
|
(d) Long-term Loan and Advances |
1.655 |
1.785 |
1.821 |
|
(e) Other Non-current
assets |
2.066 |
4.439 |
4.739 |
|
Total Non-Current Assets |
528.639 |
485.030 |
514.236 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.980 |
75.050 |
0.000 |
|
(b) Inventories |
8.541 |
9.424 |
6.638 |
|
(c) Trade receivables |
33.837 |
15.548 |
33.487 |
|
(d) Cash and cash
equivalents |
7.068 |
23.676 |
3.757 |
|
(e) Short-term loans and
advances |
131.612 |
129.014 |
83.513 |
|
(f) Other current assets |
7.421 |
5.630 |
12.945 |
|
Total Current Assets |
190.459 |
258.342 |
140.340 |
|
|
|
|
|
|
TOTAL |
719.098 |
743.372 |
654.576 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
Income |
217.075 |
183.955 |
184.133 |
|
|
Other Income |
4.166 |
11.826 |
7.294 |
|
|
TOTAL (A) |
221.241 |
195.781 |
191.427 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of
Stock-in-Trade |
102.492 |
82.677 |
87.349 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
0.882 |
(2.837) |
1.585 |
|
|
Employees benefits
expense |
18.114 |
20.632 |
18.069 |
|
|
Other expenses |
37.325 |
38.741 |
52.463 |
|
|
Exceptional items |
0.000 |
9.221 |
0.000 |
|
|
TOTAL (B) |
158.813 |
148.434 |
159.466 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION
(C) |
62.428 |
47.347 |
31.961 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
19.566 |
12.708 |
8.752 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
42.862 |
34.639 |
23.209 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.571 |
8.283 |
5.316 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
33.291 |
26.356 |
17.893 |
|
|
|
|
|
|
|
Less |
TAX (H) |
6.074 |
4.645 |
3.595 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
27.217 |
21.711 |
14.298 |
|
|
|
|
|
|
|
Less |
PRIOR
YEAR'S ADJUSTMENTS |
0.046 |
0.195 |
0.269 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (K) |
73.819 |
58.172 |
49.257 |
|
|
|
|
|
|
|
Add |
EXCESS PROVISION FOR DIVIDEND TAX W/BACK |
0.145 |
0.014 |
0.000 |
|
Add |
EXCESS PROVISION FOR INCOME TAX W/BACK |
0.376 |
0.000 |
0.000 |
|
Add |
EXCESS PROVISION FOR WEALTH TAX W/BACK |
0.000 |
0.016 |
0.000 |
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
Less |
Short Provision For
Income Tax For Previous Year |
0.423 |
0.209 |
0.000 |
|
|
Short Provision For
Dividend Tax For Year 2010-11 |
0.448 |
0.000 |
0.000 |
|
|
Transferred To General
Reserves |
1.400 |
1.100 |
0.800 |
|
|
Proposed Dividend On
Equity Shares |
3.825 |
3.825 |
3.825 |
|
|
Tax On Dividend |
0.650 |
0.765 |
0.173 |
|
|
TOTAL |
6.746 |
5.899 |
4.798 |
|
|
|
|
|
|
|
|
BALANCE CARRIED TO THE
B/S |
94.765 |
73.819 |
58.172 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
0.000 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
0.000 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
10.67 |
8.51 |
5.61 |
QUARTERLY RESULTS
|
PARTICULARS |
30.06.2013 |
30.09.2013 |
31.12.2013 |
|
Type |
1st
Quarter |
2nd
Quarter |
3rd
Quarter |
|
Net Sales |
59.900 |
53.400 |
48.400 |
|
Total Expenditure |
45.800 |
37.500 |
32.500 |
|
PBIDT (Excl OI) |
14.200 |
15.900 |
15.900 |
|
Other Income |
0.100 |
00.500 |
0.000 |
|
Operating Profit |
14.200 |
16.400 |
15.900 |
|
Interest |
04.100 |
03.900 |
03.800 |
|
Exceptional Items |
0.000 |
(0.600) |
(0.200) |
|
PBDT |
10.200 |
11.800 |
12.000 |
|
Depreciation |
01.900 |
02.000 |
02.300 |
|
Profit Before Tax |
08.200 |
09.900 |
09.700 |
|
Tax |
03.400 |
01.800 |
01.700 |
|
Provisions and contingencies |
0.000 |
0.000 |
0.000 |
|
Profit After Tax |
04.800 |
08.100 |
08.000 |
|
Extraordinary Items |
02.900 |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
0.000 |
|
Net Profit |
07.800 |
08.100 |
08.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
12.30
|
11.09 |
7.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.34
|
14.33 |
9.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.22
|
3.57 |
2.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07
|
0.05 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.31
|
0.37 |
0.20 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.56
|
3.73 |
2.38 |
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 |
25.500 |
25.500 |
25.500 |
|
Reserves & Surplus |
483.532 |
479.330 |
481.774 |
|
Net worth |
509.032 |
504.830 |
507.274 |
|
|
|
|
|
|
long-term borrowings |
80.244 |
164.221 |
134.038 |
|
Short term borrowings |
23.621 |
21.859 |
24.341 |
|
Total borrowings |
103.865 |
186.080 |
158.379 |
|
Debt/Equity ratio |
0.204 |
0.369 |
0.312 |
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 |
184.133 |
183.955 |
217.075 |
|
|
|
(0.097) |
18.004 |
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 |
184.133 |
183.955 |
217.075 |
|
Profit |
14.298 |
21.711 |
27.217 |
|
|
7.77% |
11.80% |
12.54% |
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 |
No |
|
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 |
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 |
Yes |
|
30] |
Major Shareholders, if available |
No |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
No |
|
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 |
10249187 |
04/10/2010 |
5,000,000.00 |
BANK OF BARODA |
MUMBAI MAIN OFFICE, POST
BOX NO. 347,, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
A97586663 |
|
2 |
10151680 |
06/03/2009 |
20,000,000.00 |
BANK OF BARODA |
MUMBAI MAIN OFFICE, POST BOX
NO. 347,, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
A59514190 |
|
3 |
10151681 |
06/03/2009 |
20,000,000.00 |
BANK OF BARODA |
MUMBAI MAIN OFFICE, POST BOX
NO. 347,, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
A59514364 |
|
4 |
80039681 |
12/06/2012 * |
198,600,000.00 |
BANK OF BARODA |
MUMBAI MAIN OFFICE, POST BOX
NO. 347,, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI- 400023, MAHARASHTRA,
INDIA |
B42994046 |
* Date of charge modification
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
Long Term
Borrowings |
|
|
|
Deposits |
50.057 |
48.923 |
|
|
|
|
|
Short Term
Borrowings |
|
|
|
Deposits |
0.908 |
0.875 |
|
TOTAL
|
50.965 |
49.798 |
WORKING RESULT:
The gross turnover and
profit after tax is higher as compared to the previous year. This has been
possible due to better strategy, efficient cost control measures and greater
sustained effort from all the employees of the Company.
FUTURE OUTLOOK:
Although, the directors
have adopted a cautious approach in view of the current dismal economic
situation, the Company is continuously making all efforts to improve the
existing business and simultaneously exploring new opportunities.
FIXED ASSETS:
·
Building
·
Bunglow at Ahmedabad
·
Furniture and Fixtures
·
Vehicles
·
Office Equipments
·
Electrical Installation
·
Air Conditioning Machines
·
Tools and Equipments
·
Computer Installation
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.60.50 |
|
|
1 |
Rs.101.69 |
|
Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.