. Summary Information
|
|
|
Country |
|
|
Company Name |
K.A.S
INDUSTRIES INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Allaudin Shameem |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Abdul Jalal Shahiba Begam |
|
|
|
Registration # |
|
|
Street Address |
No. 24, (Old No.36) Veerabathrar Street, Near District, Central
Library, Erode – 638003, Tamilnadu, India |
||
|
Established Date |
25.11.2005 |
SIC Code |
-- |
|
Telephone# |
91-424-2292431 |
Business Style 1 |
Manufacturer |
|
Fax # |
Not Available |
Business Style 2 |
Importer |
|
Homepage |
-- |
Product Name 1 |
Upper Leather |
|
# of employees |
500 (Approximately) |
Product Name 2 |
Lining Leather |
|
Paid up capital |
Rs.14,089,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors - 100.00% |
Banking |
State Bank of
India |
|
Public Limited Corp. |
No |
Business Period |
9 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related Party |
K A S Shoes Private Limited |
India
|
|
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
219,941,000 |
Current Liabilities |
165,145,000 |
|
Inventories |
97,207,000 |
Long-term Liabilities |
358,792,000
|
|
Fixed Assets |
626,975,000 |
Other Liabilities |
69,663,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
593,600,000 |
|
Invest& other Assets |
5,450,000 |
Retained Earnings |
341,884,000 |
|
|
|
Net Worth |
355,973,000 |
|
Total Assets |
949,573,000 |
Total Liab. & Equity |
949,573,000 |
|
Total Assets (Previous Year) |
821,487,000 |
|
|
|
P/L Statement as of |
31.03.2013 |
(Unit: Indian Rs.) |
|
|
Sales |
1,007,341,000 |
Net Profit |
64,671,000 |
|
Sales(Previous yr) |
851,931,000 |
Net Profit(Prev.yr) |
37,600,000 |
MIRA
INFORM REPORT
|
Report Date : |
20.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
K.A.S INDUSTRIES INDIA PRIVATE LIMITED (07.01.2014) |
|
|
|
|
Formerly Known
As : |
K.A.S INDUSTRIES INDIA LIMITED (PARKT IX) |
|
|
|
|
Registered
Office : |
No. 24, (Old No.36) Veerabathrar Street, Near District, Central
Library, Erode – 638003, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.11.2005 |
|
|
|
|
Com. Reg. No.: |
18-012317 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 14.089 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TZ2005PTC012317 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCK7001L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Importer and Exporter of Upper Leather and
Lining Leather. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1420000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for
business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct. The company can be considered normal 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.
ECGC Country Risk Classification List – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
As per the latest IMF study, the total weigh of emerging markets in the GDP
of the world on a purchasing power parity basis has seen a sizeable shift. It
highlights how as against 51 % in 2005, the emerging economies now account for
close to 56 % of the global purchasing power GDP as per the latest survey. And
with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the their share goes up further
in the coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite
worrying. He is of the view that the Chinese economy could be heading toward
trouble on account of new Chinese President Xi Jingping’s very aggressive
anti-corruption drive. Chanos believes 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 |
CARE |
|
Rating |
Long-term bank facilities : “BBB-” |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
27.01.2014 |
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. Mohamed Arshath |
|
Designation : |
Director |
|
Contact No.: |
91-9994228609 |
|
Date : |
16.08.2014 |
LOCATIONS
|
Registered Office : |
No. 24, (Old No.36), Veerabathrar Street, Near District, Central Library,
Erode – 638003, Tamilnadu, India |
|
Tel. No.: |
91-424-2292431 |
|
Mob. No.: |
91-9994228609 (Mr. Mohamed Arshath) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
7/4, Muthu Street, Periampet, Chennai - 600003, Tamilnadu, India |
|
Tel. No.: |
91-44-25615845 |
|
Fax No.: |
91-44-25612970 |
|
|
|
|
Factory 1 : |
Gnanipalayam Post, Thanneerpandal, Vellode Via Perundurai, Erode
District - 638112, Tamilnadu, India |
|
|
|
|
Factory 2 : |
118-C, MBT Road Cross, Ranipet, Vellore - 632401, Tamilnadu, India |
|
Tel. No.: |
91-4172-272017 |
|
Fax No.: |
91-4172-272017 |
|
|
|
|
Factory 3 : |
437/2B C Adbul Hanjeem Road, Kathiyavadi Village, Melvisharam, Vellore
- 632509, Tamilnadu, India |
|
|
|
|
Factory 4 : |
736/2, 4B, 5A, Poondi Road, Vanniyachatrram, Poodi Post, Walaja,
Vellore - 632508, Tamilnadu, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Allaudin Shameem |
|
Designation : |
Managing Director |
|
Address : |
No. 228, Arumugam Street, Tirunagar Colony, Erode – 638003, Tamilnadu, India |
|
Date of Birth/Age : |
15.05.1956 |
|
Qualification : |
Graduated |
|
Date of Appointment : |
25.11.2005 |
|
PAN No.: |
AJCPS1732Q |
|
DIN No.: |
00148409 |
|
|
|
|
Name : |
Abdul Jalal Shahiba Begam |
|
Designation : |
Director |
|
Address : |
No. 228, Arumugam Street, Tirunagar Colony, Erode – 638003, Tamilnadu, India |
|
Date of Birth/Age : |
07.06.1967 |
|
Qualification : |
Graduated |
|
Date of Appointment : |
25.11.2005 |
|
PAN No.: |
AJCPS1733Q |
|
DIN No.: |
00179384 |
|
|
|
|
Name : |
Mr. Mohamed Arshath |
|
Designation : |
Director |
|
Address : |
No. 228, Arumugam Street, Tirunagar Colony, Erode – 638003, Tamilnadu, India |
|
Date of Birth/Age : |
01.07.1988 |
|
Qualification : |
Graduated |
|
Date of Appointment : |
19.11.2012 |
|
DIN No.: |
03450952 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Shameem A |
1019050 |
72.33 |
|
Shahibha Begam A |
327350 |
23.23 |
|
Sirajudden A |
100 |
0.01 |
|
Mohamed Asick A |
100 |
0.01 |
|
Rashila Begum S |
100 |
0.01 |
|
K.A. Abdul Wahid |
100 |
0.01 |
|
Mohammed Farook A |
100 |
0.01 |
|
Kas Tanning Company Limited, India |
32250 |
2.29 |
|
S.Mohamed Arshath |
29750 |
2.11 |
|
Total |
1408900 |
100.00 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Upper Leather and
Lining Leather. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Countries : |
· China Portugal |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Small Material |
||||||||
|
Countries : |
· Italy Germany |
GENERAL INFORMATION
|
No. of Employees : |
500 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Commercial Branch, 78/79, CD
Building, Park Road, Erode - 638003, Tamilnadu, India ·
The Indian Overseas Bank, 56, 57, 58, Teppakulam
Street, Sankari Main Road, Tiruchengode, Namakkal - 634211, Tamilnadu, India ·
Axis Bank, Kumar Arcade, Perundurao Road, Erode –
638011, Tamilnadu, India ·
Indian Overseas Bank, 56,57,58, Teppakulam
Street, Sankari Main Road, Tiruchengode, Namakkal – 637211, Tamilnadu, Indoa |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A. Kumar Chartered Accountant |
|
Address : |
140/2, Mettur Road, Palaniappa Complex, Room No 36, II Floor, Erode – 638011, Tamilnadu, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AMTPK6524E |
|
|
|
|
Related Parties : |
· K A S Shoes Private Limited CIN No.: U19201TN2004PTC052699 K A S Tanning Company Limited CIN No.: U19113TZ2004PLC011121 Excel Shoes K A S Leathers M B Leathers |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4000000 |
Equity Shares |
Rs. 10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1408900 |
Equity Shares |
Rs. 10/- each |
Rs. 14.089 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 |
14.089 |
14.089 |
13.469 |
|
(b) Reserves & Surplus |
341.884 |
277.216 |
227.836 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.003 |
|
Total
Shareholders’ Funds (1) + (2) |
355.973 |
291.305 |
241.308 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
232.020 |
282.098 |
277.374 |
|
(b) Deferred tax liabilities (Net) |
26.888 |
28.515 |
13.844 |
|
(c) Other long term liabilities |
33.885 |
24.177 |
63.524 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
292.793 |
334.790 |
354.742 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
126.772 |
103.906 |
126.325 |
|
(b) Trade payables |
49.366 |
11.319 |
70.358 |
|
(c) Other current
liabilities |
81.894 |
73.028 |
71.275 |
|
(d) Short-term provisions |
42.775 |
7.139 |
3.943 |
|
Total Current Liabilities (4) |
300.807 |
195.392 |
271.901 |
|
|
|
|
|
|
TOTAL |
949.573 |
821.487 |
867.951 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
626.975 |
609.809 |
587.890 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.380 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.450 |
5.450 |
5.450 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
3.533 |
3.540 |
|
(e) Other Non-current assets |
11.425 |
0.000 |
0.000 |
|
Total Non-Current Assets |
643.850 |
618.792 |
597.260 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
97.207 |
63.486 |
75.998 |
|
(c) Trade receivables |
96.209 |
67.751 |
135.662 |
|
(d) Cash and cash
equivalents |
23.748 |
21.877 |
21.944 |
|
(e) Short-term loans and
advances |
88.490 |
44.189 |
32.082 |
|
(f) Other current assets |
0.069 |
5.392 |
5.005 |
|
Total Current Assets |
305.723 |
202.695 |
270.691 |
|
|
|
|
|
|
TOTAL |
949.573 |
821.487 |
867.951 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1007.341 |
851.931 |
825.289 |
|
|
|
Other Income |
0.000 |
19.289 |
42.072 |
|
|
|
TOTAL (A) |
1007.341 |
871.220 |
867.361 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
596.654 |
561.454 |
571.564 |
|
|
|
Employees Benefit Expenses |
31.636 |
13.870 |
9.106 |
|
|
|
Other Expenses |
152.262 |
111.846 |
125.410 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
(11.049) |
(15.247) |
(0.671) |
|
|
|
TOTAL (B) |
769.503 |
671.923 |
705.409 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
237.838 |
199.297 |
161.952 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
59.700 |
65.928 |
44.746 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
178.138 |
133.369 |
117.206 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
84.269 |
77.188 |
53.257 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
93.869 |
56.181 |
63.949 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.198 |
18.581 |
3.736 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
64.671 |
37.600 |
60.213 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Yarn (CIF) |
36.704 |
0.000 |
0.000 |
|
|
|
Leather (CIF) |
219.419 |
241.956 |
183.228 |
|
|
|
Shoe (FOB) |
103.841 |
16.812 |
0.000 |
|
|
TOTAL EARNINGS |
359.964 |
258.768 |
183.228 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Chemical Purchase |
6.282 |
4.387 |
3.461 |
|
|
|
Capital Goods |
22.295 |
4.194 |
43.105 |
|
|
|
Raw Hides |
2.350 |
0.000 |
-- |
|
|
|
Shoe Materials – Accessories |
8.623 |
0.449 |
-- |
|
|
|
Stores and Spares |
0.678 |
0.000 |
-- |
|
|
TOTAL IMPORTS |
40.228 |
9.030 |
46.566 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
45.90 |
27.91 |
44.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.42 |
4.32 |
6.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.32 |
6.59 |
7.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.94 |
6.88 |
7.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.19 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.01 |
1.33 |
1.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.04 |
1.00 |
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 |
13.469 |
14.089 |
14.089 |
|
Reserves & Surplus |
227.836 |
277.216 |
341.884 |
|
Share Application money
pending allotment |
0.003 |
0.000 |
0.000 |
|
Net
worth |
241.308 |
291.305 |
355.973 |
|
|
|
|
|
|
long-term borrowings |
277.374 |
282.098 |
232.020 |
|
Short term borrowings |
126.325 |
103.906 |
126.772 |
|
Total
borrowings |
403.699 |
386.004 |
358.792 |
|
Debt/Equity
ratio |
1.673 |
1.325 |
1.008 |
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 |
825.289 |
851.931 |
1007.341 |
|
|
|
3.228 |
18.242 |
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 |
825.289 |
851.931 |
1007.341 |
|
Profit |
60.213 |
37.600 |
64.671 |
|
|
7.30% |
4.41% |
6.42% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION
|
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10456383 |
02/04/2014 * |
52,500,000.00 |
AXIS BANK LIMITED |
AXIS BANK LIMITED, PERUNDURAI ROAD,, ERODE, TAMIL |
C02784148 |
|
2 |
10346231 |
10/03/2014 * |
1,002,500,000.00 |
INDIAN OVERSEAS BANK |
56,57,58 THEPPAKULAM STREET, SANKARI MAIN ROAD, |
C05368469 |
|
3 |
10028192 |
30/03/2013 * |
123,500,000.00 |
THE STATE BANK OF INDIA |
S B I COMMERCIAL BRANCH, 78/79 CD BUILDING PARK ROAD, ERODE, TAMILNADU - 638003, INDIA |
B73794968 |
* Date of charge modification
YEAR IN RETROSPECT
The gross sales and other income for the financial year were Rs. 1007.300 Millions as against Rs. 871.221 Millions for the previous financial year registering an increase of 15.62%. The Profit before tax excluding extraordinary and exceptional item was Rs. 93.853 Millions and the profit after tax excluding extraordinary and exceptional item was Rs. 61.678 Millions for the financial year as against Rs. 56.179 Millions and Rs. 29.951 Millions respectively for the previous financial year registering an increase of 67.06% and 105.93% respectively. The sector wise operational data are given below: Spinning During the year, the company installed 3360 spindles additionally and thus the company’s spindlage capacity stand increased to 46800. Spinning unit performed excellently well during the year. During the year the company has processed 31687504 kgs of cotton and produced 2574742 kgs of yarn. The financial performance too, improved significantly. Leather
During the year, 173650 nos of rawhides processed into wet blue and 159367 nos of wet blue into finished leathers. During the year, the company has exports finished leather amounting Rs. 2194.19 to Italy, Honkong, Germany, Thailand, Spain, Portugal etc.
WIND MILL
The company have 9 windmills aggregating capacity of 5000 KWA - 4 windmills aggregating 2000 KWA in Chettikulam of Tirunelveli District and Palladam of Coimbatore District and 4 wind mills of each 600 KWA aggregating 2400 KWA in Tenkasi of Tiruneveli District and 1 Windmill in the capacity of 600 KWA in Tenkasi of Tirunelveli District. The wind mills have generated 127.25 lakhs units of power during the year. The company has purchased 3555104 units of electricity generated by K A S Tanning Company Limited for captive consumption for their spinning unit.
SHOE
During the year, the company has purchased all the machineries, for which the company has already lease agreement, at a cost of Rs. 21.525 Millions from Excel Shoes, a partnership firm. During the year, the company has produced 129761 pairs of shoes upper and exported 128266 pairs of shoes upper. Exports sale of shoes to UK came to Rs. 103.841 Millions.
FIXED ASSETS
Tangible Assets
· Land
Buildings
Plant
and Equipment
Factory
Equipments
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a 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 : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
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 |
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 |
|
45 |
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.