MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXPANDED POLYMER SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne MIDC, Vashi, Navi Mumbai –
400705, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
02.11.2007 |
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|
Com. Reg. No.: |
11-175657 |
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Capital
Investment / Paid-up Capital : |
Rs. 120.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24134MH2007PTC175657 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME00833A MUME07100C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAFE0142M AABCE8627R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importers of Polyurethane Chemical form
System. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Reserves of the company are low. The rating also takes into consideration thin profit margin and raw
material price fluctuation. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company can be considered for business dealings with some
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
ICRA |
|
Rating |
Long term: “BB” (Suspended) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term: “A4” (Suspended) |
|
Rating Explanation |
Minimal degree of safety. It carry very high
credit risk. |
|
Date |
February 2014 |
Reason: Inability to carry out rating in the absence of
requisite information from the company.
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
|
Name : |
Mr. Hemant Pandya |
|
Designation : |
Deputy General Manager Accounts |
|
Contact No.: |
91-22-30914300 |
|
Date : |
10.04.2014 |
LOCATIONS
|
Registered Office : |
C – 44/1 and 2, C – 45/3, TTC Area, Pawne MIDC, Vashi, Navi Mumbai –
400705, Maharashtra, India |
|
Tel. No.: |
91-22-27670838/ 30914300 / 30914323 / 30914320 |
|
Fax No.: |
91-22-27671065 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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|
|
|
Factory: |
Plot - CH-10, GIDC, Taluka Vagra Dahej, District Bharuch, Gujarat, India
|
DIRECTORS
As on: 26.09.2013
|
Name : |
Mr. Mukesh Shantilal Bhuta |
|
Designation : |
Managing Director |
|
Address : |
1101, Alaknanda CHS Limited, 7th |
|
Date of Birth/Age : |
12.08.1953 |
|
Qualification : |
Science Graduate, B.E. Tech |
|
Date of Appointment : |
01.08.2009 |
|
PAN No.: |
AAAPB7437Q |
|
DIN No.: |
00801515 |
|
|
|
|
Name : |
Dr. Vaman Jasvantrai Mehta |
|
Designation : |
Director |
|
Address : |
24, Garodia Palace, 198, Garodia Nagar, Ghatkopar (East), Mumbai – 400
077, |
|
Date of Birth/Age : |
08.01.1934 |
|
Date of Appointment : |
02.11.2007 |
|
PAN No.: |
AAAPM9031F |
|
DIN No.: |
01214512 |
|
|
|
|
Name : |
Mr. Ajit Shantilal Bhuta |
|
Designation : |
Director |
|
Address : |
1102, Alaknanda CHS Limited, 7th Rajawadi Road, Ghatkopar (East), Mumbai – 400 077, Maharashtra, India |
|
Date of Birth/Age : |
12.03.1951 |
|
Date of Appointment : |
02.11.2007 |
|
PAN No.: |
AABPB0541Q |
|
DIN No.: |
00802006 |
|
|
|
|
Name : |
Mr. Chandulal Kalidas Shah |
|
Designation : |
Director |
|
Address : |
64/A, Manju Niketan, Opposite Topiwala Cinema, Topiwala Compound, S.V.
Road, Goregaon (West), Mumbai – 400 062, Maharashtra, India |
|
Date of Birth/Age : |
07.09.1941 |
|
Date of Appointment : |
29.09.2008 |
|
PAN No.: |
AADPS9643Q |
|
DIN No.: |
01977071 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant Pandya |
|
Designation : |
Deputy General Manager Accounts |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 26.09.2013
|
Names of Shareholders |
No. of Shares |
|
Mukesh Shantilal Bhuta |
8400000 |
|
Vaman Jasvantrai Mehta |
960000 |
|
Jayshree Ajit Bhuta |
300000 |
|
Ajit Shantilal Bhuta |
300000 |
|
Harsh Vaman Mehta |
120000 |
|
Medha Mukesh Bhuta |
600000 |
|
Hema C Shah and Vaman Jasvantrai Mehta |
120000 |
|
Mikhail Mukesh Bhuta |
1200000 |
|
|
|
|
TOTAL
|
12000000 |
Equity Share Break up (Percentage of Total Equity)
As on: 26.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importers of Polyurethane Chemical form
System. |
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Products : |
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Exports : |
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Products : |
Polyurethane Chemical System. |
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Countries : |
· Gulf Countries · South Africa · Singapore · Italy |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
Singapore ·
China |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Polyols |
MT |
17100 |
10819 |
NOTE:
1.
Licensed capacity is not applicable in view of the company’s
products having been de-licensed as per new licensing policy announced by the
Government of India.
2.
Installed capacity is as certified by the
management and accepted by auditors as this is a technical matter.
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
· Standard Chartered Bank, Sme Credit, Crescenzo, 3a/F, Plot No. C-38 and 39, G Block, Bandra Kurla Complex, Bandra East, Mumbai - 400051, Maharashtra, India · Kotak Mahindra Prime Limited, 36-38A Nariman Bhavan, 227, 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 |
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Facilities : |
Cash Credit Rs.250.000 Millions (From Bank of India) (Rs.
In Millions)
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|
Banking
Relations : |
-- |
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|
Auditors : |
|
|
Name : |
C M Gabhawala and Company Chartered Accountants |
|
Address : |
42, Nanik Nivas, 30, Dr. D. D. Sathe Marg, Girgaum, Mumbai – 400004, Maharashtra, India |
|
PAN No.: |
AAAFC1255D |
CAPITAL STRUCTURE
As on: 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
120.000 |
120.000 |
100.000 |
|
(b) Reserves & Surplus |
54.405 |
17.160 |
(1.176) |
|
(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) |
174.405 |
137.160 |
98.824 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
179.291 |
190.787 |
204.204 |
|
(b) Deferred tax liabilities
(Net) |
11.705 |
2.382 |
8.591 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
4.557 |
9.048 |
0.063 |
|
Total
Non-current Liabilities (3) |
195.553 |
202.217 |
212.858 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
284.915 |
329.790 |
278.431 |
|
(b) Trade payables |
517.501 |
487.454 |
275.031 |
|
(c) Other current liabilities |
165.762 |
142.468 |
122.141 |
|
(d) Short-term provisions |
9.040 |
0.872 |
0.000 |
|
Total
Current Liabilities (4) |
977.218 |
960.584 |
675.603 |
|
|
|
|
|
|
TOTAL |
1,347.176 |
1,299.961 |
987.285 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
431.841 |
392.582 |
334.054 |
|
(ii) Intangible Assets |
0.043 |
0.047 |
1.570 |
|
(iii) Capital work-in-progress |
49.775 |
34.465 |
1.920 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.859 |
6.289 |
2.911 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
497.518 |
433.383 |
340.455 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
270.756 |
250.684 |
249.951 |
|
(c) Trade receivables |
407.871 |
412.584 |
252.570 |
|
(d) Cash and cash equivalents |
52.346 |
77.942 |
60.171 |
|
(e) Short-term loans and
advances |
116.232 |
119.326 |
83.329 |
|
(f) Other current assets |
2.453 |
6.042 |
0.809 |
|
Total
Current Assets |
849.658 |
866.578 |
646.830 |
|
|
|
|
|
|
TOTAL |
1,347.176 |
1,299.961 |
987.285 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Total Revenue |
2563.415 |
2050.268 |
1351.537 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Financial Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
79.994 |
36.568 |
(25.467) |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
28.422 |
24.233 |
12.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
50.571 |
12.335 |
(37.766) |
|
|
|
|
|
|
|
|
|
|
TAX |
10.518 |
(6.001) |
3.682 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
40.053 |
18.336 |
(41.448) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.160 |
(5.176) |
36.272 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
4.000 |
0.000 |
0.000 |
|
|
|
Proposed Dividend [Including Dividend Tax] |
2.808 |
0.000 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
46.405 |
13.160 |
(5.176) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
225.196 |
50.204 |
22.654 |
|
|
|
Commission Received |
15.327 |
11.076 |
10.382 |
|
|
TOTAL EARNINGS |
240.523 |
61.280 |
33.036 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
|
809.898 |
|
|
|
Capital Goods |
|
|
0.059 |
|
|
TOTAL IMPORTS |
1335.805 |
1112.774 |
809.957 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.34 |
1.53 |
(4.14) |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
2600.000 |
|
|
|
|
|
The above information has been parted by Mr. Hemant Pandya
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.90 |
0.97
|
(3.83) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29 |
0.09
|
(0.38) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.66 |
3.80
|
4.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.90
|
0.96 |
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 |
100.000 |
120.000 |
120.000 |
|
Reserves & Surplus |
(1.176) |
17.160 |
54.405 |
|
Net
worth |
98.824 |
137.160 |
174.405 |
|
|
|
|
|
|
long-term borrowings |
204.204 |
190.787 |
179.291 |
|
Short term borrowings |
278.431 |
329.790 |
284.915 |
|
Total
borrowings |
482.635 |
520.577 |
464.206 |
|
Debt/Equity
ratio |
4.884 |
3.795 |
2.662 |
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) |
|
Total Revenue |
1,351.537 |
2,050.268 |
2,563.415 |
|
|
|
51.699 |
25.028 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Revenue |
1,351.537 |
2,050.268 |
2,563.415 |
|
Profit |
(41.448) |
18.336 |
40.053 |
|
|
(3.07)% |
0.89% |
1.56% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
45.713 |
44.231 |
39.266 |
|
|
|
|
|
|
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 |
No |
|
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Loans and advances from directors |
108.817 |
100.962 |
|
Other loans and advances, others |
6.434 |
6.717 |
|
|
|
|
|
Total |
115.251 |
107.679 |
OPERATIONS
The company has earned total revenue of Rs. 2563.415 millions (Previous year Rs. 2050.268 millions) thereby registering an increase of 25% over the previous year, during the year, and incurred profit after tax of Rs.40.053 millions (Previous year Rs.18.335 millions).
With the increased availability of main raw material, Propylene Oxide on account of bulk storage tank at Gujarat Chemical Port Terminal Company Limited. At Dahej Port, and with good demand for the products, the company has put up one more line of production at Dahej unit during the year which will commence production in 2013-14.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10466706 |
29/10/2013 |
50,000,000.00 |
BANK OF INDIA |
ANDHERI MID CORPORATE BRANCH, 28, MDI BLDG., 1ST |
B92174937 |
|
2 |
10417463 |
22/07/2013 * |
200,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT, CRESCENZO, 3A/F, PLOT NO. C-38 & 39, |
B80574486 |
|
3 |
10259623 |
11/12/2010 |
341,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH,DESAI NIWAS, M. G. ROAD, GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
B02731800 |
|
4 |
10243694 |
06/09/2010 |
580,300.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH,DESAI NIWAS,, M. G. ROAD, GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A96189766 |
|
5 |
10238730 |
31/07/2010 |
75,000,000.00 |
BANK OF INDIA |
GHATKOPAR (WES) BRANCH, DESAI NIWAS,, M. G. ROAD, |
A94006111 |
|
6 |
10245424 |
29/11/2009 |
12,050,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A88597224 |
|
7 |
10191623 |
03/11/2009 |
240,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH DESAI NIWAS, M. G. ROAD GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A74750050 |
|
8 |
10191626 |
03/11/2009 |
345,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH DESAI NIWAS, M. G. ROAD GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A74750183 |
|
9 |
10192362 |
03/11/2009 |
349,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH DESAI NIWAS, M. G. ROAD GHATKOPAR (WEST), MUMBAI, MAHARASHTRA - 400086, INDIA |
A75252403 |
|
10 |
10083710 |
20/11/2008 * |
4,400,000.00 |
BANK OF INDIA |
GHATKOPAR (WEST) BRANCH, DESAI NIWAS, M. G. ROAD, |
A50964378 |
* Date of charge modification
FIXED ASSETS
Tangible assets
·
Land
·
Buildings
·
Factory building
·
Plant and equipment
·
Factory equipment’s
·
Furniture and fixtures
·
Vehicles
·
Motor vehicles
·
Office equipment
·
Computer equipment’s
·
Other equipment’s
Intangible assets
·
Computer software
·
Know-how
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 : |
NYA |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.