MIRA
INFORM REPORT
|
Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
GLOSTER CABLES LIMITED (w.e.f. 20.07.2004) |
|
|
|
|
Formerly Known
As : |
GLOSTER CABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 183/184, (5-3-370 To 372A) 2nd Floor, above Mody
Motors, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.03.1995 |
|
|
|
|
Com. Reg. No.: |
01-019694 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 235.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300TG1995PLC019694 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC8377R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of PVC insulated power, control and Domestic cables and its geographical operations. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 520000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
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|
Comments : |
Subject is an established company having moderate track record. The company has recorded accumulated losses which seems to be
increasing over years. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow. The company can be considered
for business dealings with great 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 |
TERM LOAN (B) (Suspended) |
|
Rating Explanation |
High risk of default |
|
Date |
June 26, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
BANK GURANTEE (A4) (Suspended) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk |
|
Date |
June 26, 2014 |
Reason for suspended: Non – cooperation by the company to undertake the
rating.
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 BY
|
Name : |
Mr. Raghuveera Prasad |
|
Designation : |
Vice President Finance |
|
Contact No.: |
91-40-27534985 |
|
Date : |
06.08.2014 |
LOCATIONS
|
Registered Office : |
No. 183/184, (5-3-370 To 372A) 2nd Floor, above Mody
Motors, Rashtrapathi Road, Secunderabad – 500003, Telangana, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
5-3-372A, 2nd Floor, R P Road, Secunderabad – 500003,
Telangana, India |
|
Tel. No.: |
91-40-27534985 / 86 / 27538814 |
|
Fax No.: |
91-40-27538819 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
s. No. 310/E, NH 7, Kallakal (Village), Toopran (Mndl), MEdak
(District), Andhra Pradesh, India |
|
Tel. No.: |
91-8454250511 / 12, 250769 / 71 |
|
Fax No.: |
91-8454250510 |
|
|
|
|
Factory 2 : |
s. No. 293, NH7, Kallakal (Village), Toopran (Mndl), Medak (District),
Andhra Pradesh, India |
|
Tel. No.: |
91-8454250202 |
DIRECTORS
As on: 30.11.2012
|
Name : |
Mr. Ashish Pramod Modi |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
1-8-165 Prenderghast Road, Secunderabad – 500003, Andhra Pradesh,
India |
|
Date of Birth/Age : |
04.09.1968 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00011575 |
|
Pan No.: |
ADYPM4652K |
|
|
|
|
Name : |
Mr. Saurabh Bangur |
|
Designation : |
Director |
|
Address : |
16, Alipore Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
27.12.1976 |
|
Date of Appointment : |
01.04.2000 |
|
DIN No.: |
00236894 |
|
|
|
|
Name : |
Mr. Shree Ram Poddar |
|
Designation : |
Director |
|
Address : |
18, HO Chi Minh Sarani, Tower 4, Flat 12B, Diamond City (West),
Kolkata – 700061, West Bengal, India |
|
Date of Birth/Age : |
03.09.1958 |
|
Date of Appointment : |
03.03.2010 |
|
DIN No.: |
00602015 |
|
|
|
|
Name : |
Mr. Prabhat Kumar Dhandhania |
|
Designation : |
Director |
|
Address : |
Gardenia Homes, 277/1A, Ajcbose Road, 2nd Floor, Flat No2A,
Kolkata – 700020, West Bengal, India |
|
Date of Birth/Age : |
07.02.1963 |
|
Date of Appointment : |
21.04.2010 |
|
DIN No.: |
00914610 |
|
|
|
|
Name : |
Mr. Vinay Rathi |
|
Designation : |
Whole-Time Director |
|
Address : |
10/1/E, Diamond Harbour Road, Kolkata – 700027, West Bengal, India |
|
Date of Birth/Age : |
01.01.1970 |
|
Date of Appointment : |
01.04.2013 |
|
DIN No.: |
00482344 |
KEY EXECUTIVES
|
Name : |
Mr. Raghuveera Prasad |
|
Designation : |
Vice President Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.11.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.11.2012
|
Category |
|
Percentage |
|
Bodies corporate |
|
58.10 |
|
Directors or relatives of directors |
|
41.90 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of PVC insulated power, control and Domestic
cables and its geographical operations. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
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Bankers : |
· Syndicate Bank, R. P. Road Branch, R P Road, Secunderabad - 500003, Andhra Pradesh, India ·
State Bank of India, Commercial Branch, Patny
Circle, Secunderabad, Andhra Pradesh, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Anandam and Company Chartered Accountants |
|
Address : |
7 'A', Surya Towers, Sardar Patel, Road, Secunderabad –
500003, Andhra
Pradesh, India |
|
PAN No.: |
AACFM8791J |
|
|
|
|
Enterprises/individuals over which key
managerial personnel /
director are able to exercise significant influence. |
· Modi and Modi Financial Services Private Limited · Sureshot Fincon Private Limited · Touchstone Commercial Private Limited · Rathi Industries · Orbit Udyog Private Limited · Saumya Trade and Fiscal Services Private Limited · The Diamond Company Limited ·
Veer Enterprises Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23550000 |
Equity Shares |
Rs.10/- each |
Rs.235.500 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 |
235.500 |
235.500 |
210.000 |
|
(b) Reserves & Surplus |
(105.490) |
(55.441) |
(5.897) |
|
(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) |
130.010 |
180.059 |
204.103 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
288.462 |
313.456 |
360.433 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
9.347 |
9.275 |
9.017 |
|
(d) long-term
provisions |
4.496 |
7.043 |
3.403 |
|
Total Non-current
Liabilities (3) |
302.305 |
329.774 |
372.853 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
410.614 |
433.796 |
457.815 |
|
(b)
Trade payables |
321.459 |
347.700 |
311.727 |
|
(c)
Other current liabilities |
141.760 |
180.320 |
177.437 |
|
(d) Short-term
provisions |
0.642 |
0.410 |
0.577 |
|
Total Current
Liabilities (4) |
874.475 |
962.226 |
947.556 |
|
|
|
|
|
|
TOTAL |
1306.790 |
1472.059 |
1524.512 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
327.957 |
317.761 |
321.219 |
|
(ii)
Intangible Assets |
22.084 |
23.046 |
23.636 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.157 |
0.274 |
0.274 |
|
(c) Deferred tax
assets (net) |
94.718 |
72.105 |
51.732 |
|
(d) Long-term Loan and Advances |
65.300 |
65.486 |
64.636 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
510.216 |
478.672 |
461.497 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
327.135 |
372.339 |
398.966 |
|
(c)
Trade receivables |
400.176 |
531.167 |
572.126 |
|
(d) Cash
and cash equivalents |
37.138 |
41.674 |
39.133 |
|
(e)
Short-term loans and advances |
28.360 |
45.146 |
47.686 |
|
(f)
Other current assets |
3.765 |
3.061 |
5.104 |
|
Total
Current Assets |
796.574 |
993.387 |
1063.015 |
|
|
|
|
|
|
TOTAL |
1306.790 |
1472.059 |
1524.512 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1795.071 |
2352.639 |
2214.612 |
|
|
|
Other Income |
9.690 |
5.753 |
15.098 |
|
|
|
TOTAL (A) |
1804.761 |
2358.392 |
2229.710 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1377.753 |
1869.539 |
1743.600 |
|
|
|
Changes in inventories of finished
goods, work-in-progress and Stock-in-Trade |
(11.258) |
6.101 |
20.741 |
|
|
|
Employees benefits expense |
80.697 |
90.276 |
71.156 |
|
|
|
Expenditure on production,
transportation and other expenditure pertaining to E&P activities |
1.635 |
0.494 |
1.101 |
|
|
|
Prior period items |
3.843 |
2.436 |
311.136 |
|
|
|
Other expenses |
270.053 |
303.070 |
0.000 |
|
|
|
TOTAL (B) |
1722.723 |
2271.916 |
2147.734 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
82.038 |
86.476 |
81.976 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
130.473 |
133.706 |
113.775 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(48.435) |
(47.230) |
(31.799) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
24.227 |
22.687 |
22.284 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(72.662) |
(69.917) |
(54.083) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(22.613) |
(20.373) |
(14.714) |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(50.049) |
(49.544) |
(39.369) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(55.440) |
(5.896) |
(48.398) |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
(81.871) |
|
|
BALANCE CARRIED
TO THE B/S |
(105.489) |
(55.440) |
(5.896) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.469 |
1.332 |
NA |
|
|
TOTAL EARNINGS |
3.469 |
1.332 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.000 |
8.748 |
1.820 |
|
|
|
Fixed Assets |
1.261 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1.261 |
8.748 |
1.820 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(2.13) |
(2.27) |
(2.14) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(2.77) |
(2.10) |
(1.77) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(4.05) |
(2.97) |
(2.44) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.00) |
(5.00) |
(3.67) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.56) |
(0.39) |
(0.26) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.38 |
4.15 |
4.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
1.03 |
1.12 |
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 |
210.000 |
235.500 |
235.500 |
|
Reserves & Surplus |
(5.897) |
(55.441) |
(105.490) |
|
Net
worth |
204.103 |
180.059 |
130.010 |
|
|
|
|
|
|
long-term borrowings |
360.433 |
313.456 |
288.462 |
|
Short term borrowings |
457.815 |
433.796 |
410.614 |
|
Total
borrowings |
818.248 |
747.252 |
699.076 |
|
Debt/Equity
ratio |
4.009 |
4.150 |
5.377 |
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 |
2214.612 |
2352.639 |
1795.071 |
|
|
|
6.233 |
(23.700) |
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 |
2214.612 |
2352.639 |
1795.071 |
|
Profit |
(39.369) |
(49.544) |
(50.049) |
|
|
(1.78%) |
(2.11%) |
(2.79%) |
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 |
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 |
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 |
Note:
The registered office of the company has been shifted from 5-3-372A, 2nd
Floor, R P Road, Secunderabad – 500003, Telangana, India to present address
w.e.f. 09.02.2013
GLOBAL SCENARIO:
During the year 2012-13, the global economy continued to witness lower growth over the previous year. On the domestic front, inflation has been ruling high for well over two years, leading to a period of relatively high interest rates and leading to a negative impact on the Economy. The GDP growth in 2012-13 has been below 5%, which is lower than previous year (6.5%). There has been a continuous depreciation of the Indian rupee against the US Dollar – from a level of Rs. 50.88 in March., 2012 to Rs.54.285 at the close of March., 2013.
This has resulted in a marginal/negative growth in all sectors of the economy. The Government expects that GDP will grow at around 6.5% in 2013-14 and fiscal deficit is expected to be contained to under 5% of GDP. Further inflation is expected to be around 6.5%. However, this will depend on oil and commodity prices, availability of adequate finances and the ability of the manufacturing sector to pull itself out of the current situation.
POWER CABLE INDUSTRY:
The power cable business has experienced a negative growth during 2012-13. Due to the present economic conditions our company is going through a tough phase and so are, most of other cable manufacturing companies.
The cable industry requires large working capital and debtors being the most significant component of it. It affects the performance, especially when the cash flows becomes un-predictable and go beyond control.
OPERATIONS:
During the year 2012-13, the company could not achieve growth over 2011-12 and there is a negative growth of 23.70 % mainly due to paucity of working capital, increase in input cost , interest costs and delayed realisation of debtors coupled with low margins due to stiff competition.
The company has suffered a net loss of Rs. 50.000 Millions during 2012-13 compared to net loss of Rs. 49.500 Millions during 2011-12.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Deferred payment liabilities |
33.194 |
34.171 |
|
Loans and advances from directors |
43.144 |
35.644 |
|
Loans and advances from others |
73.590 |
50.090 |
|
Other loans and advances |
79.868 |
77.868 |
|
Total |
229.796 |
197.773 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10015706 |
27/06/2006 |
20,000,000.00 |
SYNDICATE BANK |
R P ROAD BRANCH 8-1-384,385 AND 468, SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA |
A03187127 |
|
2 |
90116365 |
06/02/2014 * |
896,100,000.00 |
SYNDICATE BANK |
R P ROAD BRANCH 8-1-384,385 AND 468, SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA |
B97659429 |
|
3 |
90116364 |
21/07/2009 * |
85,654,000.00 |
SYNDICATE BANK |
R P ROAD BRANCH 8-1-384,385 AND 468, SECUNDERABAD, ANDHRA PRADESH - 500003, INDIA |
A69218543 |
* Date of charge modification
FIXED ASSETS
· Land
· Buildings
· Plant and equipment
· Furniture and fixtures
· 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 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 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.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.