MIRA INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASHAPURA GARMENTS LIMITED [w.e.f.21.12.2005] |
|
|
|
|
Formerly Known
As : |
ASHAPURA GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No.3, Block - C, Sector – 12 S, Adani Ports and SEZ, Mundra, Kachchh –
370421, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.09.1994 |
|
|
|
|
Com. Reg. No.: |
04-067515 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 143.805
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U13101GJ1994PLC067515 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA4027H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Apparels and Textiles. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Not Available |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Rating reflects sound financial risk profile marked by decent
liquidity position and long standing experience of promoters in the apparel
industry. Trade relations are reported to be fair. Business is active. Payments
are reported to be usually correct. The company 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
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 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
December 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term fund based limits = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
December 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
[CONTACT NO.: 91-22-24118902]
LOCATIONS
|
Registered Office/ Factory : |
Plot No.3, Block - C, Sector – 12 S, Adani Ports and SEZ, Mundra, Kachchh –
370421, Gujarat, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Head Office : |
301, Navyug Industrial Estate, T.J. Road, Sewree, Mumbai - 400015, Maharashtra, India |
|
Tel. No.: |
91-22-24118902/ 24137400/ 3201 |
|
Fax No.: |
91-22-24118904 |
DIRECTORS
AS ON 10.09.2013
|
Name : |
Mr. Sandeep Rameshkumar Vedant |
|
Designation : |
Managing director |
|
Address : |
202, Om Tower CHS, Sector-8, Opposite Koperkhairane Railway Station,
Koperkhairane, Navi Mumbai – 400709, Maharashtra, India |
|
Date of Birth/Age : |
29.04.1973 |
|
Qualification : |
B Com |
|
Date of Appointment : |
01.03.2006 |
|
PAN No.: |
AAEPV9187F |
|
DIN No.: |
01830547 |
|
|
|
|
Name : |
Mr. Sanjay
Parmanand Vyas |
|
Designation : |
Whole-time director |
|
Address : |
B-202, Prabhau Darshan, Kama Lane, Kirol Road, Ghatkopar [West],
Mumbai – 400086, Maharashtra, India |
|
Date of Birth/Age : |
04.06.1964 |
|
Qualification : |
B Com |
|
Date of Appointment : |
01.03.2006 |
|
PAN No.: |
ADFPV4794G |
|
DIN No.: |
01101802 |
|
|
|
|
Name : |
Mr. Mehul
Rameshchandra Gor |
|
Designation : |
Whole-time director |
|
Address : |
AT-74, Valram Nagar, Rawalvadi, Relocation Site Bhuj, Kutch – 370001,
Gujarat, India |
|
Date of Birth/Age : |
11.12.1979 |
|
Qualification : |
MBA |
|
Date of Appointment : |
01.03.2006 |
|
PAN No.: |
AIFPG4251N |
|
DIN No.: |
00302902 |
|
|
|
|
Name : |
Senthilarumugam Thiruvadi |
|
Designation : |
Nominee director |
|
Address : |
A3, 313 Sneha Apartments, Godavari Block, National Games Village,
Koramangala, Bangalore – 560047, Karnataka, India |
|
Date of Birth/Age : |
23.02.1956 |
|
Date of Appointment : |
20.12.2012 |
|
DIN No.: |
03431263 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Hingwani |
|
Designation : |
Secretary |
|
Address : |
401, Sonal Tower CHS Limited, Venus Netaji Road, Opposite Palace Restt,
Ulhasnagar – 421004, Maharashtra, India |
|
Date of Birth/Age : |
09.06.1984 |
|
Date of Appointment : |
22.08.2013 |
|
PAN No.: |
ADSPH9105Q |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 10.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 10.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Venture Capital |
21.73 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
9.37 |
|
Bodies
corporate |
13.33 |
|
Directors
or relatives of directors |
55.57 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Apparels and Textiles. |
||||
|
|
|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· Canara Bank Ground Floor Mittal Tower C Wing, Nariman Point, Mumbai - 400021, Maharashtra, India · Bank of India Andheri Mid Corporate Branch, 28, MDI Building, 1st Floor, S.V. Road, Andheri (West), Mumbai - 400058, Maharashtra, India · The Maharabhyudaya Cooperative Bank Limited Administrative
Office, Parel Village, Mumbai - 400012, Maharashtra, India · The Karur Vysya Bank Limited 229 New Common Wealth CHS, Linking Road, Opposite Shoppers Stop,
Bandra [West], Mumbai - 400050, Maharashtra, India · Indian Overseas Bank C 201, Waterford Building, Juhu Lane, Andheri (West), Mumbai - 400058,
Maharashtra, India · Axis Bank Limited Bank of Baroda HDFC Bank Limited ICICI Bank Limited Kotak Mahindra Bank Limited State Bank of India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institutions : |
· Reliance Capital Limited "H" Block 1st Floor, Dhirubhai Ambani Knowledge City, Koparkhairne, Navi Mumbai - 400710, Maharashtra, India · Indiabulls Housing Finance Limited F-60, Malhotra Building, 2nd Floor, Connaught Place, New Delhi - 110001, Delhi, India · SBI Global Factors Limited 6th Floor, Metropolitan Building, Bandra-Kurla, Complex, Bandra (East), Mumbai - 400051, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
U. B. Nagda and
Company Chartered Accountants |
|
Address : |
D-71, Mahindra
Park, L.B.S. Marg, Ghatkopar [West], Mumbai, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAPN8889L |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
Vedant International Garments Manufacturing Limited
[U18204MH1995PLC094500] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14,380,500 |
Equity Shares |
Rs. 10/- each |
Rs. 143.805
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 |
143.805 |
112.555 |
104.775 |
|
(b) Reserves & Surplus |
1193.330 |
828.699 |
659.488 |
|
(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) |
1337.135 |
941.254 |
764.263 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
502.527 |
619.488 |
595.021 |
|
(b) Deferred tax liabilities (Net) |
33.382 |
6.830 |
5.649 |
|
(c) Other long
term liabilities |
93.261 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.555 |
0.483 |
|
Total Non-current
Liabilities (3) |
629.170 |
626.873 |
601.153 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1180.532 |
793.101 |
573.241 |
|
(b)
Trade payables |
982.636 |
530.466 |
232.601 |
|
(c)
Other current liabilities |
153.319 |
192.927 |
135.413 |
|
(d) Short-term
provisions |
88.741 |
74.976 |
87.650 |
|
Total Current
Liabilities (4) |
2405.228 |
1591.470 |
1028.905 |
|
|
|
|
|
|
TOTAL |
4371.533 |
3159.597 |
2394.321 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
863.511 |
145.154 |
124.698 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
258.251 |
888.973 |
580.370 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
9.275 |
7.882 |
7.882 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.660 |
5.523 |
32.759 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1131.697 |
1047.532 |
745.709 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1368.016 |
916.127 |
796.407 |
|
(c)
Trade receivables |
1570.397 |
1006.183 |
698.795 |
|
(d) Cash
and cash equivalents |
215.790 |
133.725 |
108.028 |
|
(e)
Short-term loans and advances |
82.754 |
25.319 |
26.569 |
|
(f)
Other current assets |
2.879 |
30.711 |
18.813 |
|
Total
Current Assets |
3239.836 |
2112.065 |
1648.612 |
|
|
|
|
|
|
TOTAL |
4371.533 |
3159.597 |
2394.321 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
5053.890 |
3488.335 |
2257.865 |
|
|
|
Other Income |
24.003 |
13.185 |
4.820 |
|
|
|
TOTAL (A) |
5077.893 |
3501.520 |
2262.685 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
4443.762 |
3131.872 |
2007.701 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
15.737 |
-50.011 |
-42.995 |
|
|
|
Employees benefits expense |
15.866 |
9.666 |
8.313 |
|
|
|
Other expenses |
76.066 |
34.882 |
29.047 |
|
|
|
TOTAL (B) |
4551.431 |
3126.409 |
2002.066 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
526.462 |
375.111 |
260.619 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
277.543 |
207.636 |
141.582 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
248.919 |
167.475 |
119.037 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
27.020 |
9.030 |
5.684 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
221.899 |
158.445 |
113.353 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
76.019 |
51.474 |
37.910 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
145.880 |
106.971 |
75.443 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
909.918 |
495.560 |
0.000 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.21 |
9.67 |
7.78 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.87 |
3.05 |
3.33 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.39 |
4.54 |
5.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.41 |
7.00 |
6.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.17 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.26 |
1.50 |
1.53 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.33 |
1.60 |
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 |
104.775 |
112.555 |
143.805 |
|
Reserves & Surplus |
659.488 |
828.699 |
1193.330 |
|
Net
worth |
764.263 |
941.254 |
1337.135 |
|
|
|
|
|
|
Long-term borrowings |
595.021 |
619.488 |
502.527 |
|
Short term borrowings |
573.241 |
793.101 |
1180.532 |
|
Total
borrowings |
1168.262 |
1412.589 |
1683.059 |
|
Debt/Equity ratio |
1.529 |
1.501 |
1.259 |
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 |
2257.865 |
3488.335 |
5053.890 |
|
|
|
54.497 |
44.880 |
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 |
2257.865 |
3488.335 |
5053.890 |
|
Profit |
75.443 |
106.971 |
145.880 |
|
|
3.34% |
3.07% |
2.89% |
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 |
106.640 |
115.256 |
107.924 |
|
|
|
|
|
|
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 |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10512912 |
26/07/2014 |
250,000,000.00 |
THE KARUR VYSYA
BANK LIMITED |
229 NEW COMMON
WEALTH CHS, LINKING ROAD OPP SHOPPERS STOP, BANDRA WEST, MUMBAI, MAHARASHTRA
- 400050, INDIA |
C15016207 |
|
2 |
10506871 |
12/06/2014 |
27,800,000.00 |
THE KARUR VYSYA
BANK LIMITED |
229 NEW COMMON WEALTH
CHS, LINKING ROAD OPP SHOPPERS STOP, BANDRA WEST, MUMBAI, MAHARASHTRA -
400050, INDIA |
C09793654 |
|
3 |
10508607 |
07/06/2014 |
50,000,000.00 |
CANARA BANK |
GROUND FLOOR
MITTAL TOWER C WING, NARIMAN POINT, |
C11002318 |
|
4 |
10505965 |
09/07/2014 * |
19,700,000.00 |
INDIAN OVERSEAS
BANK |
C 201, WATERFORD
BUILDING, JUHU LANE, ANDHERI (WEST), MUMBAI, MAHARASHTRA - 400058, INDIA |
C13860317 |
|
5 |
10488946 |
26/03/2014 |
100,000,000.00 |
BANK OF INDIA |
BANK OF INDIA,
1ST FLOOR, S.V.ROAD, ANDHERI (WEST), MUMBAI, MAHARASHTRA - 400058, INDIA |
C02851822 |
|
6 |
10481755 |
09/01/2014 |
170,000,000.00 |
CANARA BANK |
GROUND FLOOR
MITTAL TOWER C WING, NARIMAN POINT, |
B98168776 |
|
7 |
10471621 |
21/12/2013 |
170,000,000.00 |
BANK OF INDIA |
ANDHERI MID
CORPORATE BRANCH, 28, MDI BLDG.,, 1ST |
B94022480 |
|
8 |
10466669 |
23/11/2013 |
14,249,000.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI,
MAHARASHTRA - 400710, INDIA |
B92156785 |
|
9 |
10466651 |
23/11/2013 |
15,522,000.00 |
RELIANCE CAPITAL
LIMITED |
"H" BLOCK
1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI,
MAHARASHTRA - 400710, INDIA |
B92152453 |
|
10 |
10466658 |
23/11/2013 |
21,029,000.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI,
MAHARASHTRA - 400710, INDIA |
B92154384 |
|
11 |
10462376 |
12/10/2013 |
50,000,000.00 |
CANARA BANK |
GROUND FLOOR
MITTAL TOWER C WING, NARIMAN POINT, |
B90398884 |
|
12 |
10455632 |
25/09/2013 |
50,000,000.00 |
CANARA BANK |
GROUND FLOOR
MITTAL TOWER C WING, NARIMAN POINT, |
B87713343 |
|
13 |
10437407 |
02/07/2013 |
190,000,000.00 |
INDIAN OVERSEAS
BANK |
C 201, WATERFORD
BUILDING, JUHU LANE, ANDHERI (WEST), MUMBAI, MAHARASHTRA - 400058, INDIA |
B79844585 |
|
14 |
10435229 |
27/05/2013 |
50,000,000.00 |
CANARA BANK |
GROUND FLOOR
MITTAL TOWER C WING, NARIMAN POINT, |
B78912607 |
|
15 |
10407657 |
03/01/2013 |
2,921,187.00 |
INDIABULLS
HOUSING FINANCE LIMITED |
F-60 MALHOTRA
BUILDING, 2ND FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B69419042 |
|
16 |
10407636 |
03/01/2013 |
3,087,512.00 |
INDIABULLS
HOUSING FINANCE LIMITED |
F-60, MALHOTRA
BUILDING, 2ND FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B69420958 |
|
17 |
10407644 |
03/01/2013 |
3,109,672.00 |
INDIABULLS
HOUSING FINANCE LIMITED |
F-60 MALHOTRA BUILDING,
2ND FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B69422509 |
|
18 |
10407652 |
03/01/2013 |
3,193,732.00 |
INDIABULLS
HOUSING FINANCE LIMITED |
F-60, MALHOTRA
BUILDING, 2ND FLOOR, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001, INDIA |
B69423879 |
|
19 |
10391010 |
22/11/2012 |
4,030,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B63761712 |
|
20 |
10301964 |
29/07/2011 |
60,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B18633347 |
|
21 |
10166646 |
05/06/2009 |
13,584,315.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI, MAHARASHTRA
- 400710, INDIA |
A65465254 |
|
22 |
10166647 |
05/06/2009 |
18,726,130.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI,
MAHARASHTRA - 400710, INDIA |
A65466112 |
|
23 |
10166648 |
05/06/2009 |
24,063,181.00 |
RELIANCE CAPITAL
LIMITED |
"H"
BLOCK 1ST FLOOR, DHIRUBHAI AMBANI KNOWLEDGE CITY, KOPARKHAIRNE, NAVI MUMBAI,
MAHARASHTRA - 400710, INDIA |
A65466625 |
|
24 |
10106210 |
11/12/2012 * |
255,000,000.00 |
SBI GLOBAL
FACTORS LIMITED |
6TH FLOOR,
METROPOLITAN BUILDING, BANDRA-KURLA, COMPLEX, BANDRA (EAST), MUMBAI,
MAHARASHTRA - 400051, INDIA |
B65241135 |
|
25 |
10030873 |
12/05/2014 * |
3,090,000,000.00 |
CANARA BANK |
GROUND FLOOR MITTAL
TOWER C WING, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C05752753 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
0.000 |
33.601 |
|
Term loans from others |
0.000 |
0.205 |
|
Other loans and advances |
37.717 |
39.917 |
|
|
|
|
|
Total |
37.717 |
73.723 |
OPERATIONS
During the year, they recorded a compounded growth of 21% in the last five years and that their revenues from operations (net) increased to Rs.5053.890 Millions against Rs.3488.335 Millions in the previous year. Also, the profit after tax increased from Rs. 106.971 Millions to Rs.145.880 Millions.
Their Mundra SEZ Unit is now ready to start commercial production on a full scale and the company intends to utilize the total installed capacity.
The company is also planning to set up a new Top-wear Project in the Mundra SEZ which will help them to capitalize on the customer base provided by their existing business and further improve their performances in the years to come.
They are committed towards supplying high quality products
and are confident that the quality of their assets and growing demand for their
products globally will enable them to deliver industry leading performances and
thereby achieve their growth ambition.
FIXED ASSETS:
· Buildings
Plant
and equipment
Furniture
and fixtures
Vehicles
Office
equipment
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. 60.73 |
|
|
1 |
Rs. 101.48 |
|
Euro |
1 |
Rs. 81.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared by
: |
BVA |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.