MIRA
INFORM REPORT
|
Report Date : |
14.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
OMSATYA
EXIM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Vidhata Complex, 1st
Floor, Near Josh Petrol, Pump, Bhestan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
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|
|
|
Date of
Incorporation : |
02.01.2006 |
|
|
|
|
Com. Reg. No.: |
04-047433 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.490
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51494GJ2006PTC047433 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Textile Products like polyester yarn, threads etc. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
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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|
|
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Litigation : |
Clear |
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|
Comments : |
Subject is an
established company having satisfactory track record. As per registrar of
companies the date of balance sheet (i.e. financial file) is shown as
31.03.2013 but the documents related to financial are not available from any
source. As per available
financial record of 2012, general financial position of the company seems to
be sound. Profitability of the company is fair. Trade relations
are fair. Business is active. Payment terms are reported to be slow but
correct. The company can
be considered for business dealings at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – 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
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 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 that 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.
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. Navin Roy |
|
Designation : |
Manager |
|
Contact No.: |
91-9909608492 |
|
Date : |
12.08.2014 |
LOCATIONS
|
Registered Office : |
Vidhata Complex, 1st
Floor, Near Josh Petrol, Pump, Bhestan, Surat – 395 023, Gujarat, India |
|
Tel. No.: |
91-261-2890457/ 2892007 |
|
Mobile No.: |
91-9909608492 (Mr. Navin Roy) 91-9825127499 (Mr. Rajesh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
Website : |
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Corporate Office : |
533, 1st Floor, Annapurna Textile Market, Ring Road, Surat
– 395 002, Gujarat, India |
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|
|
|
Factory/ Branch Office : |
416 to 421, Gurukrupa Industrial Society, Bhestan, Surat – 395 023, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashok Srikishan Sharma |
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Designation : |
Director |
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|
Address : |
C-301, Subham Heights, Part-2, Opposite Bhagtodham Temple, Magob,
Parvat Patia, Surat – 395 007, Gujarat, India |
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Date of Birth/Age : |
10.07.1979 |
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Date of Appointment : |
01.12.2012 |
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DIN No.: |
06459130 |
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Other Directorship:
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Name : |
Ms. Dimple Rajesh Gupta |
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|
Designation : |
Director |
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Address : |
3-C, Ratna Nilam Apartment, Ranadham Complex, Piplod, Surat – 395 007,
Gujarat, India |
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Date of Birth/Age : |
02.08.1976 |
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Date of Appointment : |
01.11.2013 |
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DIN No.: |
06718100 |
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Other Directorship:
|
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KEY EXECUTIVES
|
Name : |
Mr. Navin Roy |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Om Prakash Gupta |
|
299330 |
|
Anilkumar Kaileshnath Didwania |
|
67275 |
|
Dimple Rajesh Gupta |
|
67275 |
|
Om Prakash Gupta |
|
67275 |
|
Satya O. Gupta |
|
67275 |
|
Ritu Khetan |
|
21000 |
|
Sushil Kumar Khetan |
|
9000 |
|
Nitesh Kumar Khetan |
|
20025 |
|
Jaya A. Didwania |
|
67275 |
|
Pradeep Didwania |
|
17250 |
|
Dipakkant S. Joshi |
|
21 |
|
Rajesh Om Prakash Gupta (HUF) |
|
33040 |
|
Anilkumar Kaileshnath Didwania (HUF) |
|
12980 |
|
Total
|
|
749021 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
85.44 |
|
Other
top fifty shareholders |
|
6.69 |
|
Others
|
|
7.87 |
|
Total |
|
100000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Textile Products like polyester yarn, threads etc. |
|
|
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|
Products : |
·
Yarn ·
Embroidery Threads ·
Embroidery Machine ·
Film Rolls Jari etc. |
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|
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|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
China |
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Terms : |
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|
Selling : |
Cash, Credit and Cheque |
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Purchasing : |
Cash, Credit and Cheque |
PRODUCTION STATUS [AS ON 31.03.2011]:
Licensed and
Installed Capacity: Not Applicable
|
Particulars |
Unit |
Actual
Production |
|
Jari Kasab |
Pcs |
268136 |
|
Auro Thread |
Pcs |
239833 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
The South Indian Bank Limited, Asha House, Ground Floor, 21st
Century Business Centre, Ring Road, Surat – 395 002, Gujarat, India ·
Tamilnad Mercantile Bank Limited, Rockford Business Centre, F.P.
No.167, Suman Desai Wadi, Udhna Darwaja, Ring Road, Surat – 395 002, Gujarat,
India ·
HDFC Bank Limited ·
ING
Vysya Bank Limited, Shop No.1 to 6, Surya Plaza, Near Udhna Darwaja, Ring
Road, Surat – 395 002, Gujarat, India ·
ICICI
Bank Limited ·
State
Bank of India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Shivkumar Agarwal and Company Chartered Accountants |
|
Address : |
701 to 703, Golden Plaza, Near Kinnary Cinema, Ring Road, Surat – 395
002, Gujarat, India |
|
Tel. No.: |
91-261-2345495/ 2355495 |
|
Fax No.: |
91-261-2355495 |
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E-Mail : |
|
|
PAN No.: |
ACCPA7126M |
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|
|
|
Associate Companies : |
·
Kailash Bhagwati Associates Private Limited ·
Om Satya Impex Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
749021 |
Equity Shares |
Rs.10/- each
|
Rs.7.490
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
7.490 |
7.490 |
|
(b) Reserves & Surplus |
|
35.014 |
32.468 |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
42.504 |
39.958 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
81.175 |
38.863 |
|
(b) Deferred tax liabilities (Net) |
|
0.410 |
0.371 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
81.585 |
39.234 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
50.074 |
28.755 |
|
(b)
Trade payables |
|
31.645 |
3.496 |
|
(c)
Other current liabilities |
|
2.349 |
0.851 |
|
(d) Short-term
provisions |
|
1.055 |
1.027 |
|
Total Current
Liabilities (4) |
|
85.123 |
34.129 |
|
|
|
|
|
|
TOTAL |
|
209.212 |
113.321 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
23.681 |
22.574 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.025 |
0.110 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
23.706 |
22.684 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
30.124 |
0.625 |
|
(b)
Inventories |
|
28.339 |
31.495 |
|
(c)
Trade receivables |
|
66.586 |
24.044 |
|
(d) Cash
and cash equivalents |
|
2.802 |
1.288 |
|
(e)
Short-term loans and advances |
|
45.245 |
0.000 |
|
(f)
Other current assets |
|
12.410 |
33.185 |
|
Total
Current Assets |
|
185.506 |
90.637 |
|
|
|
|
|
|
TOTAL |
|
209.212 |
113.321 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
7.490 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
29.841 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
37.331 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
25.611 |
|
|
2] Unsecured Loans |
|
|
12.634 |
|
|
TOTAL BORROWING |
|
|
38.245 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.296 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
75.872 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
6.644 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.100 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
32.127 |
|
|
Sundry Debtors |
|
|
21.809 |
|
|
Cash & Bank Balances |
|
|
2.239 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
16.747 |
|
Total
Current Assets |
|
|
72.922 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
2.748 |
|
|
Other Current Liabilities |
|
|
0.490 |
|
|
Provisions |
|
|
0.612 |
|
Total
Current Liabilities |
|
|
3.850 |
|
|
Net Current Assets |
|
|
69.072 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.056 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
75.872 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operation |
218.230 |
189.404 |
160.856 |
|
|
|
Other Income |
5.005 |
1.536 |
1.543 |
|
|
|
TOTAL (A) |
223.235 |
190.940 |
162.399 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase of
stock-in-trade |
167.613 |
160.775 |
157.006 |
|
|
|
(Increase)/ Decrease of stock-in-trade |
3.156 |
0.633 |
|
|
|
|
Employee benefit expense |
4.676 |
5.726 |
|
|
|
|
Other expenses |
34.404 |
14.701 |
|
|
|
|
TOTAL (B) |
209.849 |
181.835 |
157.006 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
13.386 |
9.105 |
5.393 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.252 |
4.897 |
2.721 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.134 |
4.208 |
2.672 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.531 |
0.510 |
0.432 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
3.603 |
3.698 |
2.240 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.057 |
1.070 |
0.696 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
2.546 |
2.628 |
1.544 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
6.556 |
3.928 |
2.384 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.102 |
6.556 |
3.928 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.40 |
3.51 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.14 |
1.38 |
0.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.65 |
1.95 |
1.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.72 |
3.26 |
2.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
0.09 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.09 |
1.69 |
1.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.18 |
2.66 |
18.94 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
7.490 |
7.490 |
|
Reserves & Surplus |
|
32.468 |
35.014 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
39.958 |
42.504 |
|
|
|
|
|
|
Long-term borrowings |
|
38.863 |
81.175 |
|
Short term borrowings |
|
28.755 |
50.074 |
|
Total borrowings |
|
67.618 |
131.249 |
|
Debt/Equity ratio |
|
1.692 |
3.088 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operation |
160.856 |
189.404 |
218.230 |
|
|
|
17.748 |
15.219 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operation |
160.856 |
189.404 |
218.230 |
|
Profit |
1.544 |
2.628 |
2.546 |
|
|
0.96% |
1.39% |
1.17% |
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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
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 |
No |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10411496 |
26/02/2013 |
70,000,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
ASHA HOUSE, GROUND FLOOR,
21ST CENTURY BUSINESS CENTRE, RING ROAD, SURAT, GUJARAT -
395002, INDIA |
B70672449 |
|
2 |
10411490 |
23/02/2013 |
70,000,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
ASHA HOUSE, GROUND FLOOR,
21ST CENTURY BUSINESS CENTRE, RING ROAD, SURAT, GUJARAT -
395002, INDIA |
B70671250 |
|
3 |
10411492 |
15/02/2013 |
70,000,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
ASHA HOUSE, GROUND FLOOR,
21ST CENTURY BUSINESS CENTRE, RING ROAD, SURAT, GUJARAT -
395002, INDIA |
B70671581 |
|
4 |
10387791 |
21/11/2012 |
60,000,000.00 |
TAMILNAD MERCANTILE BANK
LIMITED |
ROCKFORD BUSINESS CENTRE,
F.P. NO.167, SUMAN DESAI WADI, UDHNA DARWAJA, RING ROAD, SURAT, GUJARAT
- 395002, INDIA |
B62482922 |
|
5 |
10381282 |
27/09/2012 |
47,500,000.00 |
ORIENTAL BANK OF COMMERCE |
JASH TEXTILE MARKET, RING
ROAD, SURAT, GUJARAT - 395002, INDIA |
B59980045 |
|
6 |
10384836 |
07/12/2013 * |
234,961,000.00 |
THE SOUTH INDIAN BANK
LIMITED |
ASHA HOUSE GROUND FLOOR,
21ST CENTURY BUSINESS CENTRE, RING ROAD, SURAT, GUJARAT - 395002,
INDIA |
B95017240 |
|
7 |
10359126 |
18/05/2012 |
22,500,000.00 |
UNION BANK OF INDIA |
HARIPURA BRANCH, 5/396, SWASTIK
CHAMBERS, BHAJIWALIPOLE BURANPURI BHAGAL, SURAT, GUJARAT - 395004, INDIA |
B40972754 |
* Date of charge modification
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Directors |
0.257 |
1.312 |
|
From Body
Corporate |
80.826 |
37.133 |
|
Total |
81.083 |
38.445 |
FIXED ASSETS:
·
Building
·
Shop at Vidhata
·
Gas Panel Board
·
Vertical Winding M/C
·
Air Conditioner
·
Heat Shrink Packing M/C
·
Fax Machine
·
Firestop Brand
·
Vehicles
·
Open Plots (14-16)
·
Weighing Scale
·
Con Winding M/C
·
Rereleing M/C
·
Furniture and Fixture
·
Sachin B/9-1 (Sage)
·
EPBX
·
Roll Patti Machine
·
Electronic Bundle M/C
·
Mobile
·
Vaccum M/C
·
Sisper Vending
·
Jari Covering M/C
·
Computer
·
General
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.61.25 |
|
|
1 |
Rs.103.02 |
|
Euro |
1 |
Rs.81.90 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.