MIRA
INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
HAZEL MERCANTILE LIMITED (w.e.f. 09.03.1999) |
|
|
|
|
Formerly Known
As : |
HAZEL MERCANTILE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400 001, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.10.1995 |
|
|
|
|
Com. Reg. No.: |
11-093674 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.324.960 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1995PLC093674 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMH05177E /
MUMH04309E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACH2671K |
|
|
|
|
Legal Form : |
A Closely Held
Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the business of Imports, Exports, Trading and Distribution of
Chemicals, Metals, Sheets, Paper, Pharmaceutical Products, Paper Products,
Natural Rubber, Chemicals, Computer Software Development and Electricity
Generation etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The company has incurred a loss from its operation during 2013. However,
Networth of the company seems to be strong. The rating also takes into consideration extensive experience of the
promoter in the trading industry, diversified reputed customer base across
various industries and long standing relations with a reputed supplier
profile. Trade relations are reported as fair. Business is active. Payments
terms are reported to be usually correct and as per commitments. 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 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 |
CARE |
|
Rating |
Long Term Bank Facilities=A |
|
Rating Explanation |
Have adequate degree of safety and carry
moderate credit risk. |
|
Date |
16.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A1 |
|
Rating Explanation |
Have very strong degree of safety and carry
lowest credit risk.0. |
|
Date |
16.01.2014 |
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 DENIED
Management Non Co-operative (91-22-22824444)
LOCATIONS
|
Registered Office : |
181, Ashoka Shopping Centre, 2nd Floor, G.T. Hospital
Complex, L.T. Road, Mumbai – 400001, Maharashtra, India |
|
Tel. No.: |
91-22-22610282 / 43512000 |
|
Fax No.: |
91-22-22620553 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Head Office : |
Office No.4, 1st Floor, Naitik Gandhidham Unas Association,
|
|
Tel. No.: |
91-283-6229548 |
|
|
|
|
Corporate Office : |
701/712A, Embassy Centre, Nariman Point, Mumbai – 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22824444/ 33554444/ 40098900 |
|
Fax No.: |
91-22-22824440/ 22041411 |
|
E-Mail : |
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|
|
|
|
Marketing Office : |
1410, Maker Chambers V, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
Tel. No.: |
91-22-22832170 (5 Lines) |
|
Fax No.: |
91-22-22821605 |
|
E-Mail : |
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|
|
|
|
Branch Office 1 : |
SEZ
Office: Shed No.250, sector III, KSEZ, Kandla, Gandhidham, |
|
E-Mail : |
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|
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Branch Office : |
Also
located at: · Delhi · Kolkata · Visakhapatnam |
DIRECTORS
AS ON 28.09.2013
|
Name : |
Mr. Nitin Kumar Deendayal
Didwania |
|
Designation : |
Managing Director |
|
Address : |
172, Kshitij, 47, |
|
Date of Birth/Age : |
23.06.1974 |
|
Qualification : |
M.Com |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AACPD7055J |
|
DIN No.: |
00210289 |
|
|
|
|
Name : |
Mrs. Sushmadevi Deendayal Didwania |
|
Designation : |
Director |
|
Address : |
172, Kshitij, 47, |
|
Date of Birth/Age : |
30.09.1955 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.04.1997 |
|
DIN No.: |
00210240 |
|
|
|
|
Name : |
Mr. Saurabh Dipak Sanghvi |
|
Designation : |
Director |
|
Address : |
66, Kamal Building, 69, |
|
Date of Birth/Age : |
05.08.1974 |
|
Date of Appointment : |
28.09.2012 |
|
DIN No.: |
02000411 |
KEY EXECUTIVES
|
Name : |
Mr. Ashok Thakurdas Khemchandani |
|
Designation : |
Secretary |
|
Address : |
F-124, Anjali Apartments, Vaswani Marg, Seven Bungalows, Andheri
(West), Mumbai – 400 061, |
|
Date of Birth/Age : |
18.08.1956 |
|
Date of Appointment : |
05.01.2005 |
|
PAN No.: |
AFUPK6931R |
MAJOR SHAREHOLDERS
AS ON 28.09.2013
|
Names of Shareholders |
No. of Shares |
|
Nitin Kumar
Deendayal Didwania |
32479300 |
|
Sushmadevi
Deendayal Didwania |
900 |
|
Vishal Veersingh
Sukhani |
4600 |
|
Ajay Jain |
200 |
|
Yash Gala |
200 |
|
Sourabh Sanghvi |
200 |
|
Sanjay Busa |
2800 |
|
Girish Zaveri |
2600 |
|
Ashok Khemchandani |
2600 |
|
Ashwin Gandhi |
2600 |
|
Total |
32496000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.95 |
|
Other top fifty shareholders |
0.05 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the business of Imports, Exports, Trading and Distribution of
Chemicals, Metals, Sheets, Paper, Pharmaceutical Products, Paper Products,
Natural Rubber, Chemicals, Computer Software Development and Electricity
Generation etc. |
|
|
|
|
Products/ Services : |
· Paints and Coatings · Paper and Packaging · Textile · Surfactants and Detergents · Pharmaceutical · Photography and Imaging · Tyres · Pipes · Polymer · Metals ·
Electricity Generation |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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|
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|
Bankers : |
·
Punjab National Bank (Lead Bank), Foreshore Road Branch,
Raheja Chambers, Nariman Point, Mumbai - 400 021, Maharashtra, India ·
State Bank of India, Commercial Branch, N.G.N.
Vaidya Marg, Bank Street, Horniman Circle, Fort, Post Box-10141, Mumbai – 400
001, Maharashtra, India ·
IDBI Bank Limited, Cuff Parade, Mumbai – 400 005,
Maharashtra, India ·
Union Bank of India, Mumbai, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shabbir S. Bagasrawala Chartered
Accountants |
|
Address : |
Office No.8, 1st
Floor, Narayan Niwas, 63, Aarey Road, Goregaon (West), Mumbai – 400062,
Maharashtra, India |
|
Tel. No.: |
91-22-28739939 |
|
PAN
No.: |
AACFS5834Q |
|
|
|
|
Subsidiary Companies : |
·
Hazel Middle East FZE – Dubai ·
HML Europe BV – Netherlands ·
HML PTE Limited – Singapore |
|
|
|
|
Enterprise over
which Key Managerial Personnel are able to exercise significant influence : |
·
Veritas Investment Limited ·
Veritas Properties Limited |
CAPITAL STRUCTURE
AS ON 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50100000 |
Equity Shares |
Rs.10/- each |
Rs.501.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
32496000 |
Equity Shares |
Rs.10/- each |
Rs.324.960 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 |
324.960 |
300.000 |
150.000 |
|
(b) Reserves & Surplus |
5763.188 |
2446.064 |
2006.450 |
|
(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) |
6088.148 |
2746.064 |
2156.450 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
19.973 |
26.098 |
32.141 |
|
(b) Deferred tax liabilities (Net) |
47.290 |
44.258 |
47.444 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
67.263 |
70.356 |
79.585 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1158.051 |
661.699 |
673.240 |
|
(b) Trade payables |
6968.862 |
5421.250 |
4420.559 |
|
(c) Other current
liabilities |
84.955 |
271.877 |
93.027 |
|
(d) Short-term provisions |
12.204 |
0.000 |
0.000 |
|
Total Current Liabilities (4) |
8224.072 |
6354.826 |
5186.826 |
|
|
|
|
|
|
TOTAL |
14379.483 |
9171.246 |
7422.861 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
185.555 |
173.011 |
161.429 |
|
(ii) Intangible Assets |
2795.004 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
346.126 |
205.803 |
67.761 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
140.291 |
133.190 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
3326.685 |
519.105 |
362.380 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
2,754.858 |
2173.670 |
1806.243
|
|
(c) Trade receivables |
7,169.997 |
5591.702 |
4308.419
|
|
(d) Cash and cash
equivalents |
656.095 |
427.161 |
553.798
|
|
(e) Short-term loans and advances |
471.848 |
459.608 |
391.455 |
|
(f) Other current assets |
0.000 |
0.000 |
0.566 |
|
Total Current Assets |
11052.798 |
8652.141 |
7060.481 |
|
|
|
|
|
|
TOTAL |
14379.483 |
9171.246 |
7422.861 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
25047.746 |
20639.763 |
16684.970 |
|
|
|
Other Income |
255.159 |
166.792 |
50.069 |
|
|
|
TOTAL (A) |
25302.905 |
20806.555 |
16735.039 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases of stock-in-trade |
24221.391 |
19812.657 |
15839.361 |
|
|
|
Changes in inventories
of finished goods, work-in-progress and stock-in-trade |
(581.188) |
(367.426) |
(239.115) |
|
|
|
Employee benefit expense |
68.671 |
34.055 |
28.476 |
|
|
|
Other expenses |
693.468 |
519.281 |
452.766 |
|
|
|
TOTAL (B) |
24402.342 |
19998.567 |
16081.488 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
900.563 |
807.988 |
653.551 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
CHARGES (D) |
200.735 |
141.771 |
126.637 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
699.828 |
666.217 |
526.914 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
694.842 |
13.385 |
12.587 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.986 |
652.832 |
514.327 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
51.039 |
51.014 |
20.751 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(46.053) |
601.818 |
493.576 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
2346.063 |
1806.449 |
1373.368 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
50.000 |
|
|
|
Proposed Dividend |
12.200 |
10.500 |
9.000 |
|
|
|
Dividend Tax |
0.000 |
1.704 |
1.495 |
|
|
BALANCE CARRIED
TO THE B/S |
2237.810 |
2346.063 |
1806.449 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Exports |
10240.197 |
4343.607 |
3486.236 |
|
|
|
Freight , Insurance & Commission |
20.053 |
22.273 |
9.844 |
|
|
TOTAL EARNINGS |
10260.250 |
4365.880 |
3496.080 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
19278.048 |
14853.747 |
8341.418 |
|
|
TOTAL IMPORTS |
19278.048 |
14853.747 |
8341.418 |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
(1.42) |
20.06 |
16.45 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(0.18) |
2.89 |
2.95 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.02 |
3.16 |
3.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.04 |
7.28 |
6.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.24 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.19 |
0.25 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.34 |
1.36 |
1.36 |
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 |
150.000 |
300.000 |
324.960 |
|
Reserves & Surplus |
2006.450 |
2446.064 |
5763.188 |
|
Net
worth |
2156.450 |
2746.064 |
6088.148 |
|
|
|
|
|
|
long-term borrowings |
32.141 |
26.098 |
19.973 |
|
Short term borrowings |
673.240 |
661.699 |
1158.051 |
|
Total
borrowings |
705.381 |
687.797 |
1178.024 |
|
Debt/Equity
ratio |
0.327 |
0.250 |
0.193 |
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 |
16,684.970 |
20,639.763 |
25,047.746 |
|
|
|
23.703 |
21.357 |
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
|
16,684.970 |
20,639.763 |
25,047.746 |
|
Profit |
493.576 |
601.818 |
-46.053 |
|
|
2.96% |
2.92% |
-0.18% |
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) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS:
|
HIGH
COURT OF BOMBAY
|
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Loans and
Advances from related parties |
122.922 |
1.000 |
|
|
|
|
|
Total |
122.922 |
1.000 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10478219 |
23/01/2014 |
500,000,000.00 |
PUNJAB
NATIONAL BANK |
FORESHORE
ROAD BRANCH,RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
B96653530 |
|
2 |
10198433 |
12/01/2010 |
42,300,000.00 |
PUNJAB
NATIONAL BANK |
FORESHORE
ROAD BRANCH, RAHEJA CHAMBERS,, NARIMAN |
A78104643 |
|
3 |
80027453 |
05/02/2013
* |
7,440,000,000.00 |
PUNJAB
NATIONAL BANK(LEAD BANK) |
FORESHORE
ROAD BRANCH,RAHEJA CHAMBERS, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA,
INDIA |
B69761872 |
* Date of charge modification
FIXED ASSETS:
· Land and Building
· Plant and Machinery
· Vehicles
· Office Equipment
· Furniture and Fixture
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.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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.