MIRA
INFORM REPORT
|
Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
MANGALAM ORGANICS LIMITED (w.e.f. 09.10.2013) |
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Formerly Known
As : |
DUJODWALA PRODUCTS LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of Incorporation
: |
03.07.1981 |
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Com. Reg. No.: |
11-024742 |
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Capital
Investment / Paid-up Capital : |
Rs. 90.375 Millions |
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CIN No.: [Company Identification
No.] |
L24110MH1981PLC024742 |
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PAN No.: [Permanent Account No.] |
AAACD1849B |
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Legal Form : |
A Public Limited Liability company. The company’s Share are Listed on
the Stock Exchange. |
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Line of Business
: |
Manufacturer and selling
of Camphor, Sodium Acetate and Alliet Products, Terpene Chemicals and Synthetics. |
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No. of Employees
: |
Not Divulged |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Financial position of the company seems to be decent. Trade relations are fair. Business is active. Payment terms are
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.
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.
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 DENIED
Management Non Co-operative
LOCATIONS
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Registered Office/ Plant : |
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Tel. No.: |
91-22-22854618/22824089/22841281/2192-276061/276140/11-3046191 |
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Fax No.: |
91-22-22841281 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
812, Tulsiani Chambers, 212 Nariman Point, Mumbai-400 021,
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Tel. No.: |
91-22-33079300/22824089/33079389 |
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Mobile No.: |
91-9323659381 (Mr. Mohan Agrawal) |
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Fax No.: |
91-22-33079381/22841281/84 |
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E-Mail : |
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Website : |
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Area : |
1150 sq.ft |
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Location : |
Owned |
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Branches : |
Located at: Tel. No.: 91-11-23312774/2335/2895 Fax No.:91-11-3312717 Mobile No.: 91-9312439432 Kolkata Tel. No.: 91-33-22261006/22267912 Fax No.: 91-33-22263927 Chennai Tel. No.: 91-44-5358219/5351289/5355865 Fax No.: 91-44-5355853 Tel. No.: 91-80-65737066/67 Fax No.: 91-80-22273147 Tel. No.: 91-40-27722561/27721159 Fax No.: 91-40-27812846 Kumbhivali Tel. No.: 91-2192-276116/276140 Tel. No.: 91-1923-20246/20317 Fax No.: 91-1923-220617 Tel. No.: 91-452-746582/746201 |
DIRECTORS
AS ON 19.09.2013
|
Name : |
Mr. Pankaj Ramgopal Dujodwala |
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Designation : |
Managing Director |
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Address : |
Flat No. 172, Rambha Bldg, 66, Nepeansea Road, Mumbai – 400006, Maharashtra, India |
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Date of Appointment : |
03.06.1987 |
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DIN No. : |
00546353 |
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Name : |
Mr. Sharad Kumar Saraf |
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Designation : |
Director |
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Address : |
191-A, 19th Floor, Beach Towers, P, Balu mag, Prabhadevi,
Mumbai – 400025, Maharashtra, India |
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Date of Appointment : |
29.01.2011 |
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DIN No. : |
00035843 |
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Name : |
Mr. Rajkumar Subhkaran Jatia |
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Designation : |
Director |
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Address : |
5/F, Krishnabad Building, Warden Road, Mumbai – 400026, Maharashtra,
India |
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Date of Appointment : |
27.05.2010 |
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DIN No. : |
00136303 |
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Name : |
Mr. Rajkumar Jugalkishor Saraf |
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Designation : |
Director |
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Address : |
5-A,B,C5TH Floor, Saraf House, Sandhurst Bridge Road, Chowpatty,
Mumbai – 400007, Maharashtra, India |
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Date of Appointment : |
27.05.2010 |
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DIN No. : |
00286748 |
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Name : |
Mr. Kamalkumar Ramgopal Dujodwala |
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Designation : |
Director |
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Address : |
48 Jaldarshan, 51 – D, Nepeansea Road, Mumbai – 400006, Maharashtra,
India |
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Date of Appointment : |
03.07.1981 |
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DIN No. : |
00546281 |
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Name : |
Mr. Narendra Kumar Goenka |
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Designation : |
Director |
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Address : |
Shivkunj, Road No11, Jypd Scheme, Vile Parle (W), Mumbai – 400049,
Maharashtra, India |
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Date of Appointment : |
31.010.2003 |
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DIN No. : |
01234889 |
MAJOR SHAREHOLDERS
As on 19.09.2013
|
Names of Shareholders |
No. of Shares |
|
Indo Euro Securities Limited, India |
1794885 |
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Manisha Dujodwala |
853250 |
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A L K A Dujodwala |
578790 |
As on 19.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
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Public financial
companies |
0.01 |
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Mutual funds |
0.02 |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
2.97 |
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Bodies corporate |
33.27 |
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Directors or relatives of Directors |
24.78 |
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Other top fifty shareholders |
14.91 |
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Others |
24.04 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and selling
of Camphor, Sodium Acetate and Alliet Products, Terpene Chemicals and
Synthetics. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged |
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Bankers : |
· J and K Bank, 79A, Mehta House, Bombay Samachar Matg, Forl Mumbai_40000' ·
The Saraswat Co-operative Bank Ltd SME Nariman Point Branch,Mittal
Court A Wing, Mumbai - 400021, Maharashtra, INDIA · Oman International Bank s.a.o. a - wing nitin court, nariman pointy, mumbai - 400021,Maharashtra, INDIA · Industrial development bank of india idbi tower; wtc complex, cuffe parade; colaba, MUMBAI - 400005, Maharashtra, INDIA · IDBI BANK Limited. IDBI Tower, Colaba, Mumbai - 400005, Maharashtra, INDIA
· SBI Commercial and International Bank Limited Maker Chamber - III, Nariman point, Mumbai - 400021, Maharashtra, INDIA |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sunderlal Desai And Kanodia Chartered Accountants |
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Associates: |
·
Dujodwala Exports Private Limited,
U51900MH1982PTC027986 · Dujodwala Resin and Terpenes Limited, U99999MH1976PLC019323 · Balaji Pine Chemicals Limited, U74999MH1992PLC068340 · Indo-Euro Securities Limited,U99999MH1979PLC020908 |
CAPITAL STRUCTURE
As on 19.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
9052680 |
Equity Shares |
Rs.10/- each |
Rs. 90.527 Millions |
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As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
90374800 |
Equity Shares |
Rs.10/- each |
Rs. 90.375 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
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I.
EQUITY AND LIABILITIES |
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|
(1)Shareholders' Funds |
|
|
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(a) Share Capital |
90.375 |
90.375 |
90.375 |
|
(b) Reserves &
Surplus |
371.762 |
339.942 |
310.504 |
|
(c) Money received
against share warrants |
0.000 |
7.026 |
7.026 |
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|
|
|
|
|
(2) Share Application money
pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
462.137 |
437.343 |
407.905 |
|
|
|
|
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(3) Non-Current
Liabilities |
|
|
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|
(a) long-term borrowings |
42.812 |
61.356 |
66.003 |
|
(b) Deferred tax liabilities
(Net) |
62.671 |
55.363 |
56.624 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.864 |
8.095 |
5.672 |
|
Total Non-current
Liabilities (3) |
113.347 |
124.814 |
128.299 |
|
|
|
|
|
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(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
324.381 |
410.052 |
196.637 |
|
(b) Trade payables |
325.689 |
360.188 |
440.632 |
|
(c) Other current
liabilities |
178.401 |
121.877 |
153.466 |
|
(d) Short-term provisions |
1.325 |
0.000 |
48.368 |
|
Total Current Liabilities
(4) |
829.796 |
892.117 |
839.103 |
|
|
|
|
|
|
TOTAL |
1405.280 |
1454.274 |
1375.307 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
503.933 |
437.026 |
424.239 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
12.537 |
34.973 |
13.144 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.071 |
39.780 |
42.288 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
556.566 |
511.804 |
479.696 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
435.185 |
538.940 |
560.498 |
|
(c) Trade receivables |
272.885 |
276.869 |
186.587 |
|
(d) Cash and cash equivalents |
42.939 |
40.662 |
32.927 |
|
(e) Short-term loans and
advances |
87.424 |
79.612 |
114.716 |
|
(f) Other current assets |
10.281 |
6.387 |
0.883 |
|
Total Current Assets |
848.714 |
942.470 |
895.611 |
|
|
|
|
|
|
TOTAL |
1405.280 |
1454.274 |
1375.307 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
2095.232 |
2202.272 |
1907.520 |
|
|
Other Income |
16.062 |
8.677 |
8.691 |
|
|
TOTAL (A) |
2111.294 |
2210.949 |
1916.211 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
1585.674 |
1515.044 |
1477.446 |
|
|
Purchases of
Stock-in-Trade |
208.925 |
189.178 |
82.914 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(149.823) |
51.553 |
(138.177) |
|
|
Employees benefits
expense |
76.761 |
65.599 |
53.306 |
|
|
Other expenses |
238.214 |
250.491 |
211.784 |
|
|
TOTAL (B) |
1959.751 |
2071.865 |
1687.273 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
151.543 |
139.084 |
228.938 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
59.839 |
68.520 |
42.681 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.704 |
70.564 |
186.257 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
43.003 |
38.097 |
35.521 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
48.701 |
32.467 |
150.736 |
|
|
|
|
|
|
|
Less |
TAX (H) |
13.944 |
(1.022) |
54.263 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
34.757 |
33.489 |
96.473 |
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
234.142 |
210.652 |
144.717 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Transfer to General
Reserve |
0.000 |
10.000 |
20.000 |
|
|
Dividend |
0.000 |
0.000 |
9.037 |
|
|
Tax on Dividend |
0.000 |
0.000 |
1.501 |
|
|
Total (K) |
0.000 |
10.000 |
30.538 |
|
|
|
|
|
|
|
|
Balance Carried to the
B/S (I+J-K) |
268.899 |
234.141 |
210.652 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
219.072 |
129.921 |
203.779 |
|
|
Freight |
|
|
|
|
|
Insurance |
|
|
|
|
|
TOTAL EARNINGS |
219.072 |
129.921 |
203.779 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
721.674 |
955.786 |
1208.161 |
|
|
Travelling Expenses |
0.000 |
3.998 |
3.163 |
|
|
Purchases of trade goods |
60.915 |
88.626 |
53.681 |
|
|
TOTAL IMPORTS |
782.589 |
1048.410 |
1265.005 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
|
|
|
|
|
Basic |
3.84 |
3.7 |
11.1 |
|
|
Diluted |
3.84 |
3.17 |
9.13 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
PAT / Total Income |
(%) |
1.65 |
1.51 |
5.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.32 |
1.47 |
7.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.50 |
2.29 |
11.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.07 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.79 |
1.08 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.06 |
1.07 |
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 |
90.375 |
90.375 |
90.375 |
|
Reserves & Surplus |
310.504 |
339.942 |
371.762 |
|
Money received against
share warrants |
7.026 |
7.026 |
0.000 |
|
Net worth |
407.905 |
437.343 |
462.137 |
|
|
|
|
|
|
long-term borrowings |
66.003 |
61.356 |
42.812 |
|
Short term borrowings |
196.637 |
410.052 |
324.381 |
|
Total borrowings |
262.640 |
471.408 |
367.193 |
|
Debt/Equity ratio |
0.644 |
1.078 |
0.795 |
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 |
1907.520 |
2202.272 |
2095.232 |
|
|
|
15.452 |
(4.860) |
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 |
1907.520 |
2202.272 |
2095.232 |
|
Profit |
96.473 |
33.489 |
34.757 |
|
|
5.06% |
1.52% |
1.66% |
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 |
Yes |
|
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 |
No |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No
of Proprietor/Partner/Director, if available |
No |
|
34] |
External
Agency Rating, if available |
No |
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10506243 |
20/06/2014 |
20,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT
BRANCH, MITTAL COURT A WING, 1ST |
C09451865 |
|
2 |
10468451 |
23/12/2013 |
50,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT
BRANCH, MITTAL COURT A WING, 1ST |
B92829829 |
|
3 |
10368766 |
23/07/2012 |
8,864,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT
BRANCH, MITTAL COURT A WING, 1ST |
B44992824 |
|
4 |
10290361 |
18/04/2011 |
500,000.00 |
THE SARASWAT CO-OP. BANK LIMITED |
RASEC DADAR BRANCH,
LAXMAN ZULLA, 1ST FLOOR, 50, |
B14340277 |
|
5 |
10256791 |
08/11/2010 |
27,500,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
CST BRANCH, CST, MUMBAI, MAHARASHTRA - 400001, INDIA |
B01247626 |
|
6 |
10241737 |
14/09/2010 |
50,000,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
FORT FOREX BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
A95489092 |
|
7 |
10224181 |
10/05/2010 |
42,300,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
CST BRANCH, CST, MUMBAI, MAHARASHTRA - 400001, INDIA |
A87252276 |
|
8 |
10223534 |
14/05/2012 * |
370,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH, MITTAL COURT A WING, MUMBAI, MAHARASHTRA - 400021, INDIA |
B39480868 |
|
9 |
10224201 |
21/09/2011 * |
537,300,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT
BRANCH, MITTAL COURT A WING, 1ST |
B22155519 |
|
10 |
10223536 |
24/04/2010 |
5,000,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
CST BRANCH, CST, MUMBAI, MAHARASHTRA - 400001, INDIA |
A87048351 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Working Capital Loans from Banks |
45.971 |
78.162 |
|
Total |
45.971 |
78.162 |
REVIEW OF OPERATIONS:
During the year, the Company has achieved sales and other income of Rs. 2313.629 Millions as compared to (Rs.2396.166 Millions) during the previous year and the net profit has been increased to Rs. 34.758 Millions as against (Rs. 33.490 Millions) during the previous year mainly on
FIXED ASSETS
· Land
· Buildings
· Residential building
· Office building
· Factory building
· Plant and equipment
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer 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 records 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. 60.66 |
|
|
1 |
Rs. 100.80 |
|
Euro |
1 |
Rs. 80.72 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
TRU |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.