MIRA
INFORM REPORT
|
Report Date : |
23.08.2014 |
IDENTIFICATION DETAILS
|
Name : |
JUBILANT AGRI AND CONSUMER PRODUCTS LIMITED (w.e.f. 10.05.2011) |
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Formerly Known
As : |
JUBILANT AGRI CONSUMER PRODUCTS PRIVATE LIMITED (w.e.f.06.05.2011) JUBILANT AGRI AND RETAIL PRIVATE LIMITED |
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Registered
Office : |
Bhartiagram, Gajraula – 244223, Uttar Pradesh |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.08.2008 |
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Com. Reg. No.: |
20-035862 |
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Capital
Investment / Paid-up Capital : |
Rs.26.740 million |
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CIN No.: [Company Identification
No.] |
U52100UP2008PLC035862 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MRTJ01317B |
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PAN No.: [Permanent Account No.] |
AADCC4657M |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Operates Hypermarkets that offer agriculture and consumer products. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 5800000 |
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Status : |
Satisfactory |
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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 satisfactory track record. Company has incurred loss from its operation in the year 2013.
However, ratings reflect the company’s strong legal and moderate operational
linkages with its parent company i.e Jubilant Industries Limited. Rating also takes into consideration increases in sales turnover of
the company as compared to previous year and diversified product portfolio. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealing 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
FITCH |
|
Rating |
Long term issuer rating: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
28.02.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON – COOPERATIVE (91-120-4361000)
LOCATIONS
|
Registered Office : |
Bhartiagram, Gajraula – 244223, Uttar Pradesh |
|
Tel. No.: |
91-5924-252351-60 |
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Fax No.: |
91- 5924-252353 |
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E-Mail : |
DIRECTORS
As on 26.08.2013
|
Name : |
Priyavrat Bhartia |
|
Designation : |
Director |
|
Address : |
19, Friends Colony (West), New Delhi – 110065, India |
|
Date of Birth/Age : |
04.10.1976 |
|
Qualification: |
MBA |
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Date of Appointment : |
19.08.2011 |
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DIN No.: |
00020603 |
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Name : |
Shamit Bhartia |
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Designation : |
Director |
|
Address : |
19, Friends Colony (West), New Delhi – 110065, India |
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Date of Birth/Age : |
27.04.1979 |
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Qualification: |
MBA |
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Date of Appointment : |
27.08.2012 |
|
DIN No.: |
00020623 |
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|
|
Name : |
Mr. Videh Kumar Jaipuriar |
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Designation : |
Whole time Director |
|
Address : |
7th Floor, Flat G701 Gateway Towers, Sector 44, Noida –
201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
07.09.1964 |
|
Date of Appointment : |
01.03.2013 |
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DIN No.: |
03097753 |
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PAN No.: |
ADEPJ1638C |
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Name : |
Mr. Ramanathan Bupathy |
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Designation : |
Director |
|
Address : |
Pushpa Flats M68, Plot No. 3564, VI, Avenue Anna Nagar East, Chennai –
600102, Tamilnadu, India |
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Date of Birth/Age : |
10.09.1951 |
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Qualification: |
FCA |
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Date of Appointment : |
27.08.2012 |
|
DIN No.: |
00022911 |
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|
|
Name : |
Mr. Ghanshyam Dass |
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Designation : |
Director |
|
Address : |
31 A, Sobha Emerald, Sobha Suburb 1A, Behind Jakkur, Flying Club,
Jakkur, Bangalore – 560064, Karnataka, India |
|
Date of Appointment : |
26.08.2013 |
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DIN No.: |
01807011 |
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Name : |
Mr. Ashok Misra |
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Designation : |
Director |
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Address : |
68, Adarsh Vusta, Basanvan Ngar, Main Road, Vibhuthipura, Bangalore –
560037, Karnataka, India |
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Date of Birth/Age : |
30.07.1947 |
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Date of Appointment : |
26.08.2013 |
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DIN No.: |
00006051 |
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|
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Name : |
Mr. Raman Mangalorkar |
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Designation : |
Whole time Director |
|
Address : |
AT Kearney Limited, Qyadrant, A 3rd Floor, The Ilfs
Financial Centre Bandra Kurla Complex, Bandra, Mumbai – 400051, Maharashtra,
India |
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Date of Birth/Age : |
24.05.1970 |
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Qualification: |
MBA |
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Date of Appointment : |
27.08.2012 |
|
DIN No.: |
01866884 |
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PAN No.: |
ANPPM6583J |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Garg |
|
Designation : |
Secretary |
|
Address : |
Shanti Niketan Tibra Road, Street No. 4, Modi Nagar, Ghaziabad –
201204, Uttar Pradesh, Idnai |
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Date of Birth/Age : |
23.09.1978 |
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Date of Appointment : |
01.11.2012 |
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PAN No.: |
AGDPG7254M |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.08.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Jubilant Industries Limited, India |
|
49993 |
|
Jubilant Industries Limited J/W Jaipuriar Kumar Videsh |
|
1 |
|
Jubilant Industries Limited J/W Bisht Chandra Prakash |
|
1 |
|
Jubilant Industries Limited J/W Shaw Kumar Sandeep |
|
1 |
|
Jubilant Industries Limited J/W Das Sanjay |
|
1 |
|
Jubilant Industries Limited J/W Jain Lalit |
|
1 |
|
Jubilant Industries Limited J/W Sharma Arun |
|
1 |
|
Jubilant Industries Limited J/W Malhotra Ashwani |
|
1 |
|
Total |
|
50000 |
|
Names of Shareholders (Preference Shares) |
|
No. of Shares |
|
Jubilant Industries Limited, India |
|
1648817 |
|
Jubilant Industries Limited , India |
|
974800 |
|
Total |
|
2623617 |
Equity Share Break up (Percentage of Total Equity)
As on 26.08.2013
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Operates Hypermarkets that offer agriculture and consumer products. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
· The Ratnakar Bank Limited, Shahupuri,Kolhapur, Kolhapur - 416001, Maharashtra, India · Axis Bank Limited, B-2 and B-3, Sector 16, Noida - 201301, Uttar Pradesh, India ·
Corporation Bank, Corporate Banking Branch,
10th Floor, Hinduatan Times House,18/20 K.G. Marg, New Delhi - 110001, Delhi,
India |
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Facilities : |
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Banking
Relations : |
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Financial Institute: |
IL and FS Trust Company Limited, IL and Fs Financial
Centreplot No C22 G Block Bandra, Kurla Complex Bandra East, Mumbai - 400051,
Maharashtra, India |
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Auditors : |
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Name : |
K.N.Gutgutia and Company Chartered Accountants |
|
Address : |
11-K Gopala Tower Rajendra Place |
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PAN N Income-tax PAN of auditor or auditor's firm : |
AACFK6448G |
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Holding Company: |
· Jubilant Industries Limited, India [L24100UP2007PLC032909] |
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Enterprise over which
directors and major shareholders of the Company have substantial
influence: |
· Jubilant Life Sciences Limited, India [L24116UP1978PLC004624] · Jubilant Enpro Private Limited, India [U74999UP1991PTC035741] · Enpro Oil Private Limited, India [U15127UP1991PTC043338] · Jubilant Life Sciences (USA) Inc. USA. |
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Others: |
· Pace Marketing Specialities Limited Officer's Superannuation Scheme (Trust) · VAM Employees Provident Fund Trust · Jubilant Bhartia Foundation. |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Millions |
|
2900000 |
Preference Shares |
Rs.10/- each |
Rs. 29.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.30.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Millions |
|
2623617 |
Preference Shares |
Rs.10/- each |
Rs. 26.236 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.26.736
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 |
26.740 |
16.990 |
0.500 |
|
(b) Reserves & Surplus |
1428.810 |
807.790 |
(0.030) |
|
(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) |
1455.550 |
824.780 |
0.470 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1963.200 |
1571.490 |
0.000 |
|
(b) Deferred tax liabilities
(Net) |
42.040 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
1367.400 |
1249.480 |
0.000 |
|
(d) long-term provisions |
88.690 |
72.990 |
0.000 |
|
Total
Non-current Liabilities (3) |
3461.330 |
2893.960 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
257.310 |
470.370 |
0.000 |
|
(b) Trade payables |
1694.460 |
592.440 |
0.000 |
|
(c) Other current liabilities |
354.990 |
427.040 |
0.010 |
|
(d) Short-term provisions |
259.990 |
223.010 |
0.000 |
|
Total
Current Liabilities (4) |
2566.750 |
1712.860 |
0.010 |
|
|
|
|
|
|
TOTAL |
7483.630 |
5431.600 |
0.480 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2017.120 |
1640.320 |
0.000 |
|
(ii) Intangible Assets |
1012.500 |
1114.050 |
0.000 |
|
(iii) Capital work-in-progress |
405.310 |
29.020 |
0.000 |
|
(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 |
376.300 |
371.090 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
3811.230 |
3154.480 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.080 |
0.080 |
0.000 |
|
(b) Inventories |
1394.110 |
945.040 |
0.000 |
|
(c) Trade receivables |
1526.870 |
1000.470 |
0.000 |
|
(d) Cash and cash equivalents |
360.440 |
215.910 |
0.480 |
|
(e) Short-term loans and
advances |
385.910 |
115.330 |
0.000 |
|
(f) Other current assets |
4.990 |
0.290 |
0.000 |
|
Total
Current Assets |
3672.400 |
2277.120 |
0.480 |
|
|
|
|
|
|
TOTAL |
7483.630 |
5431.600 |
0.480 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
9762.480 |
7798.280 |
0.000 |
|
|
Other Income |
80.060 |
59.060 |
0.000 |
|
|
TOTAL
(A) |
9842.540 |
7857.340 |
0.000 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
3634.000 |
2220.100 |
0.000 |
|
|
Purchases of Stock-in-Trade |
3025.890 |
2909.930 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(77.760) |
173.440 |
0.000 |
|
|
Employees benefits expense |
812.870 |
686.340 |
0.000 |
|
|
Other expenses |
2201.580 |
2024.680 |
0.030 |
|
|
Exceptional items |
0.000 |
145.980 |
0.000 |
|
|
TOTAL
(B) |
9596.580 |
8160.470 |
0.030 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
245.960 |
(303.130) |
(0.030) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
276.520 |
243.380 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(30.560) |
(546.510) |
(0.030) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
313.470 |
264.700 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(344.030) |
(811.210) |
(0.030) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
0.000 |
13.300 |
0.000 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(344.030) |
(824.510) |
(0.030) |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(824.540) |
(0.030) |
0.000 |
|
|
|
|
|
|
|
|
Balance
Carried to the B/S |
(1168.570) |
(824.540) |
(0.030) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(6880.68) |
(16490.20) |
(0.62) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(3.50) |
(10.49) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.52) |
(10.40) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.86) |
(15.02) |
(6.25) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.24) |
(0.98) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.53 |
2.48 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.43 |
1.33 |
48.00 |
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 |
0.500 |
16.990 |
26.740 |
|
Reserves & Surplus |
(0.030) |
807.790 |
1428.810 |
|
Net
worth |
0.470 |
824.780 |
1455.550 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1571.490 |
1963.200 |
|
Short term borrowings |
0.000 |
470.370 |
257.310 |
|
Total
borrowings |
0.000 |
2041.860 |
2220.510 |
|
Debt/Equity
ratio |
0.000 |
2.476 |
1.526 |
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 |
0.000 |
7798.280 |
9762.480 |
|
|
|
|
25.188 |
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 |
0.000 |
7798.280 |
9762.480 |
|
Profit |
(0.030) |
(824.510) |
(344.030) |
|
|
|
(10.57%) |
(3.52%) |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
Registered office of the company has been shifted from Plot No. 1A, Sector 16A, Institutional Area, Noida 201301, Uttar Pradesh, India, India to the present address w.e.f. 01.08.2013
BUSINESS TRANSFER
AGREEMENT
During the year, the Company entered into a Business Transfer Agreement with Jubilant Industries Limited, its holding Company whereby the Company purchased an undertaking engaged in the manufacture and sale of Vinyl-Pyridine Latex ( “VP Latex” ) and Solid Poly Vinyl Acetate (“Solid PVA”) along with all the assets and liabilities including employees, contracts, licenses, permits, consents and approvals relating to such undertaking (collectively the “ Business Undertaking ”) from Jubilant Industries Limited as a going concern, with effect from April 1, 2012 by means of a ‘slump sale’ (as defined under Section 2(42C) of the Income-tax Act, 1961) for a lump sum consideration of Rs.974.800 Millions to be discharged by the Company in a manner and on such terms and conditions as may be mutually agreed upon between the Company and the Seller.
The purchase of the Business Undertaking would enable the Company to enjoy the increased purchasing power with vendors, better inventory management and logistic convenience for operating the business of manufacturing and sale of the Solid PVA. Further, it would also enable use of the existing consumer products distribution channel of the Company for the marketing of the food ingredients. The Company also proposes to launch through VP Latex business certain new products such as hot melt adhesive and certain other industrial adhesives which can be marketed through the existing consumer products distribution channel of the Buyer. The purchase of such business undertaking would reap the benefits of optimum utilization of Company’s resources in middle-long run and ultimately enhancing the overall profitability of the Company.
OPERATIONS
The financial results for the year ended March 31, 2013 have been prepared after giving effect to the Business Transfer Agreement from the appointed date viz. April 1, 2012 and in accordance with revised Schedule VI to the Companies Act, 1956. Accordingly, the figures of the previous year ended March 31, 2012, wherever necessary, have also been regrouped/reclassified. Therefore, they are strictly not comparable with the figures of year.
In FY2013 total revenue from operations was Rs.9762.480 Millions. EBITDA for the year stood at Rs.245.960 millions, Net loss was Rs.344.030 Millions and EPS at (Rs.6880.680 Millions).
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10488260 |
26/03/2014 |
2,850,000,000.00 |
AXIS BANK LIMITED |
AXIS BANK LIMITED,
SECTOR-16, NOIDA, UTTAR PRADES |
C02957116 |
|
2 |
10462818 |
26/02/2014 * |
850,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA |
C00031476 |
|
3 |
10413586 |
22/03/2013 |
750,000,000.00 |
IDBI BANK LIMITED |
INDIAN REDCROSS
SOCIETY BUILDING, 1, RED CROSS RO |
B71385934 |
|
4 |
10387354 |
25/10/2012 |
650,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING
BRANCH, 10TH FLOOR, HINDUATAN T |
B62292370 |
|
5 |
10376147 |
26/02/2014 * |
1,200,000,000.00 |
IL AND FS TRUST COMPANY LIMITED |
IL AND FS FINANCIAL
CENTREPLOT NO C22 G BLOCK BANDRA |
C00034199 |
|
6 |
10370569 |
03/12/2012 * |
700,000,000.00 |
AXIS BANK LIMITED |
B-2 & B-3, SECTOR 16, NOIDA, UTTAR PRADESH - 201301, INDIA |
B65069817 |
|
7 |
10369177 |
06/08/2013 * |
400,000,000.00 |
YES BANK LIMITED |
9TH FLOOR, NEHRU
CENTRE, DISCOVERY OF INDIA, DR. |
B83632364 |
* Date of charge modification
FIXED ASSETS
Tangible assets
· Land
· Plant and equipment
· Furniture and fixtures
· Vehicles
· Office equipment
· Leasehold improvements
Intangible assets
· Goodwill
· Brands and trade marks
· Trade marks
· Computer software
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.60.44 |
|
|
1 |
Rs.100.24 |
|
Euro |
1 |
Rs.80.35 |
INFORMATION DETAILS
|
Information Gathered
by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.