MIRA
INFORM REPORT
|
Report Date : |
02.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
YASHO INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
VASU PRESERVATIVES PRIVATE LIMITED |
|
|
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|
Registered
Office : |
Nimish Apartment, Juhu Scheme, Road No.5, Vile Parle (West), Mumbai –
400056, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
30.10.1985 |
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|
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|
Com. Reg. No.: |
11-037900 |
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Capital
Investment / Paid-up Capital : |
Rs. 50.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74110MH1985PTC037900 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACY0396G |
|
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing of Specialty and Fine Chemicals for Food,
Fragrance, Flavors, Pharmaceuticals, Plastic and Lubricants. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 290000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The company has incurred a loss from its operations during 2013. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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
N E W S
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund manager
Jim Chanos has been keenly following the political and economic development in
the dragon economy and has figured out something that is quite worrying. He is
of the view that the Chinese economy could be heading toward trouble on account
of new Chinese President Xi Jingping’s very aggressive anti-corruption drive.
Chanos believes tat many things such as apartment sales, luxury products, etc.
were largely bought with dirty money. And it is now beginning to impact
consumption. This may indeed be bad news for an economy that is struggling to
transition from an investment-driven export-oriented economy to a domestic
consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20 % ! Equities came in second with annualized
return of 15.5 % ! However, while these returns may seem mouthwatering, the
fact is that the return from equities adjusted for inflation came down to just
7.1 %.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs 10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating = BB+ [Suspended] |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
October 29, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating = A4+ [Suspended] |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
October 29, 2013 |
Reason for Suspension: The suspension of ratings
is on account of non-cooperation by Company with CRISIL efforts to undertake a
review of the rating outstanding.
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
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-66929152]
LOCATIONS
|
Registered Office : |
Nimish Apartment, Juhu Scheme, Road No.5, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Head Office : |
31-H, Laxmi Industrial Estate, New Link Road, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Tel. No.: |
91-22-66929152/ 66929153/ 26310350/ 42467000 |
|
Fax No.: |
91-22-66929154 |
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E-Mail : |
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Factory 1 : |
Plot No.2514-2515, Phase IV, GIDC, Vapi – 396195, Gujarat, India |
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Factory 2 : |
Plot No.1713, Phase – III, GIDC, Vapi – 396195, Gujarat, India |
DIRECTORS
AS ON 23.09.2013
|
Name : |
Mr. Nilesh Vinod Jhaveri |
|
Designation : |
Director |
|
Address : |
6, Vallabh Nagar Society No.1, Nimish Apartment, Juhu Scheme Road No.5,
Vile Parle, Mumbai – 400056, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1964 |
|
Date of Appointment : |
06.03.1995 |
|
PAN No.: |
AACPJ0679E |
|
DIN No.: |
01257659 |
|
|
|
|
Name : |
Mr. Yayesh Vinod Jhaveri |
|
Designation : |
Director |
|
Address : |
Nimish Apartment, Juhu Scheme, Road No.5, Vile Parle (East), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
13.04.1971 |
|
Date of Appointment : |
04.04.1997 |
|
PAN No.: |
AAAHY1752M |
|
DIN No.: |
01257668 |
|
|
|
|
Name : |
Mr. Parag Vinod Jhaveri |
|
Designation : |
Director |
|
Address : |
301, Shri Adhikari Villa [Nalini Villa], 46, Hatkesh CHS, Juhu Scheme,
N.S. Road No.7, Vile Parle [West], Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1966 |
|
Date of Appointment : |
02.05.1990 |
|
PAN No.: |
AADNP1026N |
|
DIN No.: |
01257685 |
|
|
|
|
Name : |
Mr. Vinod Harilal Jhaveri |
|
Designation : |
Director |
|
Address : |
21, Hatkesh Society 1, Ashirwad Building, Near Opposite Jamnabai School,
Juhu Scheme Road No.6, Vile Parle [West], Mumbai – 400056, Maharashtra, India
|
|
Date of Birth/Age : |
27.02.1939 |
|
Date of Appointment : |
09.08.2007 |
|
PAN No.: |
AAEPJ6636Q |
|
DIN No.: |
01655692 |
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|
|
|
Name : |
Mr. Narendra Gajanan Wagle |
|
Designation : |
Director |
|
Address : |
C-108, Noopur Society Vartak Road, Vile Parle (East), Mumbai – 400057,
Maharashtra, India |
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Date of Birth/Age : |
14.06.1934 |
|
Date of Appointment : |
26.11.2007 |
|
DIN No.: |
02010084 |
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|
|
|
Name : |
Mr. Navin Vithaldas Vimadalal |
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Designation : |
Director |
|
Address : |
6th Floor, Flat No.62, Ranju Manju, Rungta Lane of N. Sea
Road, Mumbai – 400006, Maharashtra, India |
|
Date of Birth/Age : |
18.02.1933 |
|
Date of Appointment : |
26.11.2007 |
|
DIN No.: |
02013145 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 23.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Specialty and Fine Chemicals for Food,
Fragrance, Flavors, Pharmaceuticals, Plastic and Lubricants. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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Bankers : |
· The Saraswat Co-operative Bank Limited Raja Shopping Center, New Nagardas Road, Andheri (East),
Mumbai - 400069, Maharashtra, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Jagdish B. Shah and Associates Chartered Accountants |
|
Address : |
115, Rewa Chambers, 10, New Marine Lines, Mumbai – 400020,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS0533Q |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000,000 |
Equity Shares |
Re. 1/- each |
Rs. 100.000 Millions |
|
|
|
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50,000,000 |
Equity Shares |
Re. 1/- each |
Rs. 50.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
50.000 |
50.000 |
50.000 |
|
(b) Reserves & Surplus |
22.408 |
60.174 |
68.118 |
|
(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) |
72.408 |
110.174 |
118.118 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
906.079 |
756.554 |
564.214 |
|
(b) Deferred tax liabilities (Net) |
41.030 |
59.129 |
43.226 |
|
(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) |
947.109 |
815.683 |
607.440 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
61.117 |
60.768 |
0.000 |
|
(b)
Trade payables |
350.308 |
173.698 |
173.529 |
|
(c) Other
current liabilities |
0.000 |
1.500 |
1.500 |
|
(d) Short-term
provisions |
13.992 |
12.847 |
19.565 |
|
Total Current
Liabilities (4) |
425.417 |
248.813 |
194.594 |
|
|
|
|
|
|
TOTAL |
1444.934 |
1174.670 |
920.152 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
582.125 |
524.421 |
485.743 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
12.677 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.367 |
1.367 |
1.367 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
8.724 |
7.605 |
6.269 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
592.216 |
546.070 |
493.379 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
378.235 |
262.507 |
246.939 |
|
(c)
Trade receivables |
136.857 |
187.401 |
146.969 |
|
(d) Cash
and cash equivalents |
36.659 |
26.630 |
19.021 |
|
(e)
Short-term loans and advances |
300.967 |
152.062 |
13.844 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
852.718 |
628.600 |
426.773 |
|
|
|
|
|
|
TOTAL |
1444.934 |
1174.670 |
920.152 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
GROSS SALES |
1206.230 |
1340.315 |
1101.764 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
|
PROFIT/
[LOSS] BEFORE TAX, DEPRECIATION AND AMORTISATION |
(29.533) |
33.342 |
75.230 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
26.331 |
22.371 |
23.813 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
BEFORE TAX |
(55.864) |
10.971 |
51.417 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(18.098) |
18.334 |
10.610 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ [LOSS]
AFTER TAX |
(37.766) |
(7.363) |
40.807 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings [FOB Value] |
676.363 |
780.865 |
631.416 |
|
|
|
|
|
|
|
|
|
Earnings/ [Loss]
Per Share (Rs.) |
(0.76) |
(0.15) |
0.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(3.87) |
0.95 |
5.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.77) |
0.10 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
13.36 |
7.42 |
4.78 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.00 |
2.53 |
2.19 |
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 |
50.000 |
50.000 |
50.000 |
|
Reserves & Surplus |
68.118 |
60.174 |
22.408 |
|
Net
worth |
118.118 |
110.174 |
72.408 |
|
|
|
|
|
|
Long-term borrowings |
564.214 |
756.554 |
906.079 |
|
Short term borrowings |
0.000 |
60.768 |
61.117 |
|
Total
borrowings |
564.214 |
817.322 |
967.196 |
|
Debt/Equity ratio |
4.777 |
7.418 |
13.358 |
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) |
|
Gross Sales |
1101.764 |
1340.315 |
1206.230 |
|
|
|
21.652 |
(10.004) |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Gross Sales |
1101.764 |
1340.315 |
1206.230 |
|
Profit/ [Loss] |
40.807 |
(7.363) |
(37.766) |
|
|
3.70% |
(0.55%) |
(3.13%) |
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10469009 |
20/12/2013 |
25,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B93045227 |
|
2 |
10442053 |
18/07/2013 |
86,500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B81697328 |
|
3 |
10442058 |
18/07/2013 |
100,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B81698433 |
|
4 |
10379258 |
10/09/2012 |
28,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B59197806 |
|
5 |
10329349 |
30/12/2011 |
65,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B29747391 |
|
6 |
10288157 |
09/05/2011 |
10,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B13446588 |
|
7 |
10267518 |
11/05/2011 * |
40,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B13196068 |
|
8 |
10261209 |
04/01/2011 |
35,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B03069481 |
|
9 |
10214034 |
22/04/2010 |
15,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
A84004027 |
|
10 |
10185461 |
28/10/2009 |
5,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
A72773336 |
|
11 |
10144395 |
20/02/2009 |
10,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
ANDHERI EAST BRANCH,
RAJA SHOPPING CENTRE, NEW NAGARDAS ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA
- |
A57481079 |
|
12 |
10115485 |
10/01/2011 * |
120,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B03406923 |
|
13 |
10115484 |
21/07/2008 |
13,400,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
ANDHERI EAST BRANCH,
RAJA SHOPPING CENTRE, NEW NAGARDAS ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA
- |
A42884841 |
|
14 |
10114373 |
19/02/2009 * |
4,500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
ANDHERI EAST BRANCH,
RAJA SHOPPING CENTRE, NEW NAGARDAS ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA
- |
A58225038 |
|
15 |
10106822 |
16/05/2008 |
10,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069,
INDIA |
A40114639 |
|
16 |
10106820 |
12/05/2008 |
15,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069,
INDIA |
A40110231 |
|
17 |
10097306 |
07/04/2008 |
101,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069,
INDIA |
A36231363 |
|
18 |
10097309 |
26/12/2013 * |
131,000,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
SME VILE PARLE
BRANCH, BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA |
B94516986 |
|
19 |
10066398 |
10/08/2007 |
27,250,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069,
INDIA |
A22563761 |
|
20 |
10029208 |
26/07/2013 * |
1,116,008,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B82176264 |
|
21 |
10029159 |
03/11/2006 |
20,250,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069,
INDIA |
A07913049 |
|
22 |
80065170 |
15/10/2005 |
50,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400069,
INDIA |
- |
|
23 |
90242771 |
08/09/2005 |
2,500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SOPING
CENTER, MUMBAI, MAHARASHTRA, INDIA |
- |
|
24 |
90243880 |
25/08/2005 |
500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SOPING CENTER,
MUMBAI, MAHARASHTRA, INDIA |
- |
|
25 |
90243878 |
17/08/2005 |
2,500,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SOPING
CENTER, MUMBAI, MAHARASHTRA, INDIA |
- |
|
26 |
90242657 |
30/10/2006 * |
45,820,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
RAJA SHOPPING
CENTER, NEW NAGARDAS ROAD, ANDHERI (E), MUMBAI, MAHARASHTRA - 400069,
INDIA |
- |
|
27 |
80016010 |
19/12/2013 * |
345,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
B93245959 |
|
28 |
80038395 |
20/03/2014 * |
280,000,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
SME VILE PARLE BRANCH,
BHOLANATH CO-OP HSG SOC, SUBHASH ROAD, VILE PARLE EAST, MUMBAI,
MAHARASHTRA - 400057, INDIA |
C00440636 |
|
29 |
90242647 |
18/02/2005 |
7,100,000.00 |
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RAJA SOPING
CENTER, MUMBAI, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from directors |
213.941 |
155.063 |
|
Loans and advances from others |
51.954 |
56.953 |
|
Loans taken for vehicles |
5.029 |
7.507 |
|
|
|
|
|
Total |
270.924 |
219.523 |
INDUSTRY/ BUSINESS
ENVIRONMENT/ RISKS AND CONCERNS
The Company is engaged in manufacturing of specialty and Fine Chemicals for Food, Fragrance, Flavors, Pharmaceuticals, Plastic and Lubricants.
FINANCIAL PERFORMANCE
/ INTERNAL CONTROL SYSTEM / HUMAN RESOURCES
The company achieved a Sales turnover for year ended 31st March, 2013 of Rs.1206.200 Millions compared to Rs. 1340.300 Millions of the last year coupled with loss of the year of Rs. 37.766 Millions as against Rs. 10.971 Millions in the last year.
The decline in turnover was on account of the major fire in one of their factories in the preceding year which made it difficult for them to achieve higher sales coupled with a substantial increase in fixed as well as variable operating costs. They are however positive about the future as they have restored the damaged factory and commenced commercial production towards the end of the financial year.
Systems for internal control engaged by the company are commensurate with the level of its activities and are periodically evaluated to suitably modify or alter them to suit with changes taking place in business practices. Industrial Relations, throughout the financial year ended 31st March, 2013, generally remained cordial. The company has adopted policies whereby its employees are regularly exposed to new production techniques and or methods, thereby enabling to enhance their skills further.
FUTURE OUTLOOK
Specialty and fine chemicals being ancillary to core Food
and Pharmaceuticals Industries is bound to perform in time to come with signs
of increase in global and local sales. The company is fully geared to take full
advantage of benefits arising from the above. Also the Rubber product’s
performance should enhance the company’s overall performance.
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
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. 60.85 |
|
|
1 |
Rs. 102.89 |
|
Euro |
1 |
Rs. 81.46 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.