MIRA
INFORM REPORT
|
Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED (w.e.f. 12.04.1993) |
|
|
|
|
Formerly Known
As : |
TECHNOVA PLATE MAKING SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
Laxmi Mills Estate, Off. |
|
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
29.08.1979 |
|
|
|
|
Com. Reg. No.: |
11-021599 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.119.637
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1979PTC021599 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT2165J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturing and Trading of Imaging Products. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Exist |
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|
Comments : |
Subject is an established company having satisfactory track record. There seems huge external borrowing recorded by the company during
2013. However, the rating takes into consideration subject company’s market
position in the domestic printing consumables industry and the operational
efficiencies from its technical collaboration with Agfa-Gevaert NV. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The subject can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
NEWS
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 = BBB- |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
June 19, 2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3 |
|
Rating Explanation |
Have moderate degree of safety and carry higher credit risk. |
|
Date |
June 19, 2014 |
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 PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Atul Kulkarni |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-22-27412463 |
|
Date : |
09.08.2014 |
LOCATIONS
|
Registered office : |
Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai-400011,
Maharashtra, India |
|
Tel. No.: |
91-22-42200300/
27412463 / 27412464 (Extension - 480) / 27402589 / 24983390 /
24938844 |
|
Fax No.: |
91-22-24950322/
27410261 |
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E-Mail : |
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|
Website : |
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Corporate Office / Factory : |
Plot No. E1/2/3, MIDC, Taloja, Raigad-410208, Maharashtra, India |
|
Tel. No.: |
91-22-27412463 |
|
Fax No.: |
91-22-27410261 |
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|
|
|
Domestic Office : |
Located At : ·
Ahmedabad ·
Chennai ·
Hyderabad ·
Bengaluru ·
Delhi ·
Kochi ·
Kolkata ·
Mumbai ·
Indore ·
lucknow |
|
|
|
|
Oversees Office : |
Located At : · Dubai South Africa East Africa United Kingdom and Europe South America North America Sri Lanka |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pranav Natvarlal Parikh |
|
Designation : |
Chairman and Managing Director |
|
Address : |
18 A, Manek, L. D. Ruparel Marg, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1943 |
|
Qualification : |
B.Com., MBA Havard |
|
Date of Appointment : |
29.08.1979 |
|
PAN No.: |
AADPP7768H |
|
DIN No.: |
00318726 |
|
|
|
|
Name : |
Mr. Arvind Natvarlal Parikh |
|
Designation : |
Director |
|
Address : |
8, Palmera, L. D. Ruparel Marg, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
19.10.1927 |
|
Date of Appointment : |
29.08.1979 |
|
PAN No.: |
AABPP7241B |
|
DIN No.: |
00319473 |
|
|
|
|
Name : |
Mr. Jagdish Natvarlal Parikh |
|
Designation : |
Director |
|
Address : |
6B, Brighton, Nepean Sea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
07.02.1930 |
|
Date of Appointment : |
29.08.1979 |
|
DIN No.: |
00348650 |
|
|
|
|
Name : |
Mr. Jivanlal Gulabrai Bhatt |
|
Designation : |
Whole Time Director |
|
Address : |
556/ A, Shriketan, Adenwala Road, Matunga, Mumbai – 400
019, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1952 |
|
Qualification : |
M.Sc. (North California State University, U.S.A.) |
|
Date of Appointment : |
01.01.1989 |
|
PAN No.: |
AAAPB8767D |
|
DIN No.: |
00435182 |
|
|
|
|
Name : |
Mrs. Snehal Arvind Parikh |
|
Designation : |
Director |
|
Address : |
5, Rushila Building, Carmichal Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
01.02.1955 |
|
PAN No.: |
AGHPP7065K |
|
Date of Appointment : |
26.12.1988 |
|
DIN No.: |
00467965 |
|
|
|
|
Name : |
Mrs. Maya Pranav Parikh |
|
Designation : |
Whole Time-Director |
|
Address : |
18 A, Manek, L D Ruparel Marg, Malabar Hill Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1978 |
|
Date of Appointment : |
14.12.2001 |
|
PAN No.: |
AFSPP0124P |
|
DIN No.: |
00468051 |
|
|
|
|
Name : |
Ms. Shelina P. Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
18 A, Manek, L. D. Ruparel Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
25.07.1968 |
|
Qualification : |
MBA-Harvard |
|
Date of Appointment : |
08.07.1994 |
|
PAN No.: |
AFVPP8218F |
|
DIN No.: |
00468199 |
|
|
|
|
Name : |
Mr. Ramkrishnan Gayathri |
|
Designation : |
Director |
|
Address : |
B1402, Anmol, 14th Floor, Opposite Patel Auto, Off S.V. Road,
Goregaon (West), Mumbai – 400062, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1963 |
|
Date of Appointment : |
14.03.2007 |
|
DIN No.: |
01733464 |
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|
|
|
Name : |
Mr. Mangesh Shripad Kulkarni |
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Designation : |
Director |
|
Address : |
201, Moti Mahal, 28 Senapari Bapat Marg, Mahim, Mumbai -
400016, Maharashtra India |
|
Date of Birth/Age : |
05.06.1942 |
|
Date of Appointment : |
18.04.2001 |
|
PAN No.: |
AACPK7623H |
|
DIN No.: |
00347908 |
KEY EXECUTIVES
|
Name : |
Mr. Atul Kulkarni |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Equity
Shares |
No. of
Preferences Shares |
|
Arvind N Parikh |
127600 |
-- |
|
Arvind N Parikh (HUF) |
3600 |
-- |
|
Anuradha Benegal |
105500 |
-- |
|
Jagdish N Parikh (HUF) |
600 |
-- |
|
Maya P Parikh Jointly with Pranav N Parikh |
100200 |
-- |
|
Maya P Parikh |
563100 |
-- |
|
Natverlal Parikh (HUF) |
4500 |
-- |
|
Poorvi A Parikh Jointly with Arvind N Parikh |
3600 |
-- |
|
Pranav N Parikh Jointly with Salome Pranav Parikh |
214325 |
-- |
|
Pranav N Parikh (HUF) |
1800 |
1000000 |
|
Savita S Parikh Jointly with Snehal A Parikh |
3600 |
-- |
|
Shelina P Parikh Jointly with Pranav N Parikh |
109800 |
-- |
|
Shelina P Parikh |
553500 |
-- |
|
Snehal A Parikh Jointly with Savita S Parikh |
64800 |
-- |
|
Jivan G Bhatt Jointly with Nilakshi Bhatt |
1075 |
-- |
|
Prashant J Parikh Trustee of Pan Family Trust |
41300 |
-- |
|
Jagdish N Parikh Jointly with Shila J Parikh |
64800 |
-- |
|
|
|
|
|
TOTAL
|
1963700 |
1000000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Imaging Products. |
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Products : |
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Exports : |
|
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Products : |
Finished Goods |
|
Countries : |
·
Europe ·
USA ·
Middle East |
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|
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|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
·
Europe ·
China ·
Middle East ·
Far East |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
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|
|
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Purchasing : |
Cash |
GENERAL INFORMATION
|
No. of Employees : |
1000 (Approximately) |
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Bankers : |
· Corporation Bank, Corporate Financial Branch, 104, Bharat House, Ground Floor, Mumbai Samachar Marg, Mumbai – 400023, Maharashtra, India ·
The Saraswat Co-Operative Bank ·
Indian Bank ·
Indian Overseas Bank |
||||||||||||||||||||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
|
|
Name : |
N.A. Shah and Associates Chartered Accountants |
|
|
|
Address : |
B 41 - 45 , Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400013, Maharashtra, India |
|
|
|
PAN No: |
AAAFN5380N |
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|
Associate Company : |
Lastra Niraj Private Limited, India CIN No.: U72900MH1980PTC022514 |
||
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||
|
Subsidiary : |
Technova Imaging Systems Inc* |
||
|
|
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||
|
Enterprises, where key management
personnel and relatives exercise significant influence : |
· A L Movers Private Limited CIN
No.: U63000MH1999PTC121101 ·
TechNova Graphics Private Limited CIN
No.: U24110MH1952PTC008855 |
||
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1980000 |
Equity Shares |
Rs.10/- each |
Rs.19.800 Millions |
|
1000000 |
Preferences Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
20000 |
Unclassified Shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
TOTAL
|
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1963700 |
Equity Shares |
Rs.10/- each
|
Rs.19.637
Millions |
|
1000000 |
Preferences Shares |
Rs.100/-
each |
Rs.100.000
Millions |
|
|
TOTAL |
|
Rs.119.637 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 |
119.637 |
119.637 |
119.637 |
|
(b) Reserves & Surplus |
501.087 |
290.076 |
272.722 |
|
(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) |
620.724 |
409.713 |
392.359 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1240.439 |
1635.155 |
1908.863 |
|
(b) Deferred tax liabilities (Net) |
61.413 |
31.790 |
31.984 |
|
(c) Other long term liabilities |
65.309 |
60.405 |
0.000 |
|
(d) long-term provisions |
98.289 |
85.516 |
114.095 |
|
Total Non-current Liabilities (3) |
1465.450 |
1812.866 |
2054.942 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1788.656 |
1600.632 |
1412.925 |
|
(b) Trade payables |
696.449 |
548.055 |
459.212 |
|
(c) Other current
liabilities |
1181.423 |
1215.765 |
1307.644 |
|
(d) Short-term provisions |
77.568 |
62.971 |
61.815 |
|
Total Current Liabilities (4) |
3744.096 |
3427.423 |
3241.596 |
|
|
|
|
|
|
TOTAL |
5830.270 |
5650.002 |
5688.897 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
1661.655 |
1789.197 |
2005.270 |
|
(ii) Intangible Assets |
1.928 |
8.218 |
16.068 |
|
(iii) Capital
work-in-progress |
12.257 |
42.033 |
1.555 |
|
(iv)
Intangible assets under development |
25.079 |
19.640 |
8.666 |
|
(b) Non-current Investments |
50.820 |
51.120 |
51.120 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
131.266 |
182.508 |
149.406 |
|
(e) Other Non-current assets |
6.907 |
8.485 |
8.455 |
|
Total Non-Current Assets |
1889.912 |
2101.201 |
2240.540 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2265.786 |
1974.330 |
2112.541 |
|
(c) Trade receivables |
1313.905 |
1052.367 |
820.743 |
|
(d) Cash and cash
equivalents |
11.168 |
88.750 |
24.829 |
|
(e) Short-term loans and
advances |
315.046 |
369.222 |
463.137 |
|
(f) Other current assets |
34.453 |
64.132 |
27.107 |
|
Total Current Assets |
3940.358 |
3548.801 |
3448.357 |
|
|
|
|
|
|
TOTAL |
5830.270 |
5650.002 |
5688.897 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
226.964 |
17.354 |
199.652 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
76.58 |
3.51 |
96.34 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
4.88
|
7.90
|
8.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.04
|
1.06 |
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 |
119.637 |
119.637 |
119.637 |
|
Reserves & Surplus |
272.722 |
290.076 |
501.087 |
|
Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
392.359 |
409.713 |
620.724 |
|
|
|
|
|
|
long-term borrowings |
1908.863 |
1635.155 |
1240.439 |
|
Short term borrowings |
1412.925 |
1600.632 |
1788.656 |
|
Total
borrowings |
3321.788 |
3235.787 |
3029.095 |
|
Debt/Equity
ratio |
8.466 |
7.898 |
4.880 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
442.279 |
367.021 |
445.468 |
|
|
|
|
|
|
Total |
442.279 |
367.021 |
445.468 |
|
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 |
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 |
No |
|
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
LITIGATION DETAILS:
|
LITIGATION DETAILS |
||||||||
|
Bench:- Bombay |
|
|||||||
|
Lodging No:- |
CEXAL/28/2009 |
Failing Date:- |
23.04.2009 |
Reg. No.:- |
CEXA/135/2013 |
Reg. Date:- |
07.08.2013 |
|
|
|
||||||||
|
Petitioner:- |
THE COMMISIONER OF CENTRAL EXCISE |
Respondent:- |
TECHNOVA IMAGIN SYSTEMS PRIVATE LIMITED |
|||||
|
Petn.Adv:- |
R. ASOKAN (0) |
Resp.Adv:- |
PDS LEGAL |
|||||
|
District:- |
MUMBAI |
|||||||
|
|
||||||||
|
Bench:- |
DIVISION |
Category:- |
CENTRAL EXCISE APPEAL (CEXA) |
|||||
|
Status:- |
Admitted (Unready) |
Stage:- |
TAX APPEALS FOR REJECTION U/R 986 OF THE H.C. (O.S) RULES 1980 |
|||||
|
Last Date:- |
24.07.2013 |
|||||||
|
Last Coram:- |
HON’BLE THE CHIEFJUSTICE HON;BLE SHRI JUSTICE M.S. SANKLECHA |
|||||||
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90213299 |
12/11/2013 * |
3,767,500,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, BHARAT HOUSE NO.104, GROUND FLOOR, MUMBAI SAMACHAR MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B90819533 |
|
2 |
90213144 |
26/02/1998 |
415,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
CENTRAL ADMN.
OFFICE, APSARA CINEMA BUILDING 2ND FLOOR, GRANT ROAD, DR. D. B. MARG, MUMBAI
- 400007, MAHARASHTRA |
- |
|
3 |
90212437 |
23/12/1993 |
2,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
LAXMI ROAD, PUNE - 411002, MAHARASHTRA, INDIA |
- |
|
4 |
90212157 |
17/05/1991 * |
5,200,000.00 |
THE INDUSTRIAL CREDIT & INVSTMEN CORPORATION OF INDIA LIMITED |
163, BACKBAY RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
5 |
90211925 |
17/04/1989 |
168,900.00 |
CORPORATION BANK |
VEENA CHAMBERS, DALAL STREET; FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
807.100 |
807.100 |
|
TOTAL |
807.100 |
807.100 |
FINANCIAL
HIGHLIGHTS:
The Plate Business
of the Company continued to experience tremendous challenges in the market place
under overall economic climate including dumping of products from China which
led to margin erosion. In response to the application by the Company, the
Directorate General of Anti-Dumping and Allied Duties of Government of India
has issued notification imposing anti-dumping duty on imports from China in
October 2012 to remove injury to domestic industry. Further, the Company
continues to focus aggressively on its initiatives to improve profitability
through productivity improvement and cost optimization.
FIXED ASSETS:
Tangible Assets
Land
Buildings
Factory
Building
Plant
and Equipment
Other
plant and Equipment
Furniture
and Fixtures
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
Intangible Assets
Goodwill
Computer
software
Copyrights,
patents and other operating rights
Patents
Commercial
contractual right
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.61.56 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
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 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.