MIRA INFORM REPORT
|
Report Date : |
02.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
DECO MICA LIMITED |
|
|
|
|
Registered
Office : |
306, 3rd Floor, Iscon Mall, Star Bazar Building, Jodhpur Char
Rasta, Satellite, Ahmedabad – 380015, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
07.06.1988 |
|
|
|
|
Com. Reg. No.: |
04-010807 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 42.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L20299GJ1988PLC010807 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMD00980A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD8652J |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Decorative Laminated Sheet. |
|
|
|
|
No. of Employees
: |
40 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The rating takes into consideration company’s established company’s established
track record in manufacturing paper-based decorative laminates supported by
healthy operational performance, sound financial base and fair profitability
margins of the company. Trade relations are fair. Business is active. Payment terms are reported
to be usually correct. The company can be considered for business dealings at usual trade
terms and condition. |
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
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would
take a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging that
It had wilfully defaulted on Rs 7700 mn of loans and sought more time to comply
with the requirements under the listing agreements with the Stock Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BB+ |
|
Rating Explanation |
Indequate degree of safety and moderate credit risk |
|
Date |
27.02.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A4 + |
|
Rating Explanation |
Minimal degree of safety and very high credit risk |
|
Date |
27.02.2014 |
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 INFORMATION)
|
Name : |
Mr. S. Murthy |
|
Designation : |
Export Manager |
|
Contact No.: |
91-79-32988875 |
|
Date : |
28.11.2014 |
LOCATIONS
|
Registered Office : |
306, 3rd Floor, Iscon Mall, Star Bazar Building, Jodhpur
Char Rasta, Satellite, Ahmedabad – 380015, Gujarat, India |
|
Tel. No.: |
91-79-26763691/ 32988875 |
|
Mobile No.: |
91-9327924089 (Mr. Shah) |
|
Fax No.: |
91-79-40028458 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
1195, Rajpur, Chhutral Mehsana Highway, Taluka Kadi, Gujarat, India |
DIRECTORS
As On 31.03.2014
|
Name : |
Mr. Vijay Kumar Agarwal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
8 Kairavi Bunglow, Near Sarthi Hotel, Bodakdev, Ahmedabad – 3800054,
Gujarat, India |
|
Date of Appointment : |
01.01.1997 |
|
|
|
|
Name : |
Mr. Vishal V. Agarwal |
|
Designation : |
Director |
|
Address : |
8 Kairavi Bunglow, Near Sarthi Hotel, Bodakdev, Ahmedabad – 3800054,
Gujarat, India |
|
Date of Appointment : |
08.11.2008 |
|
DIN No. : |
01763739 |
|
|
|
|
Name : |
Mr. Udaybhan V. Tripathi |
|
Designation : |
Director |
|
Address : |
5, Omchamunda Apartment, Bhaikakangr, Thaltej, Ahmedabad – 380001,
Gujarat, India |
|
Date of Appointment : |
30.03.2005 |
|
DIN No. : |
02571149 |
|
|
|
|
Name : |
Mr. Harishbhai Joshi |
|
Designation : |
Director |
|
Address : |
72, Shivganesh Bungalow Shilaj Road Thaltej, Ahmedabad – 380059,
Gujarat, India |
|
Date of Appointment : |
15.03.2007 |
|
DIN No. : |
01871634 |
KEY EXECUTIVES
|
Name : |
Mr. S. Murthy |
|
Designation : |
Export Manager |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category of
Shareholder |
No. of Shares |
% Of Holdings |
|
(A) Shareholding
of Promoter and Promoter Group |
||
|
|
|
|
|
|
2941900 |
70.05 |
|
|
2941900 |
70.05 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
2941900 |
70.05 |
|
(B) Public
Shareholding |
||
|
|
|
|
|
|
27100 |
0.65 |
|
|
27100 |
0.65 |
|
|
|
|
|
|
264300 |
6.29 |
|
|
|
|
|
|
642200 |
15.29 |
|
|
324500 |
7.73 |
|
|
1231000 |
29.31 |
|
Total Public
shareholding (B) |
1258100 |
29.95 |
|
Total (A)+(B) |
4200000 |
100.00 |
|
(C) Shares held by
Custodians and against which Depository Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total
(A)+(B)+(C) |
4200000 |
100.00 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
l.No. |
Name of the
Shareholder |
Details of Shares held |
|
|
No. of Shares held |
As a % of grand total (A)+(B)+(C) |
||
|
1 |
Vijay Kumar D Agarwal |
15,76,100 |
37.53 |
|
2 |
Aadit F/G Vishal V Agarwal |
2,03,600 |
4.85 |
|
3 |
Santoshdevi V Agarwal |
2,17,000 |
5.17 |
|
4 |
Agarwal Shraddha Vishal |
1,20,300 |
2.86 |
|
5 |
Aarya Vikas Agarwal |
1,94,200 |
4.62 |
|
6 |
Khwaish Vikas Agarwal |
1,00,100 |
2.38 |
|
7 |
Vikas Vijaybhai Agarwal |
93,100 |
2.22 |
|
8 |
Vishal V Agarwal |
71,100 |
1.69 |
|
9 |
Vishal Kumar Agarwal |
67,200 |
1.60 |
|
10 |
Ruchira Vikas Kumar Agarwal |
55,000 |
1.31 |
|
11 |
Vikas Kumar Agarwal |
54,000 |
1.29 |
|
12 |
Vanita Vijay Kumar Agarwal |
41,900 |
1.00 |
|
13 |
Ruchira Agarwal |
41,100 |
0.98 |
|
14 |
Vikas Agarwal |
20,700 |
0.49 |
|
15 |
Santoshdevi V Agarwal |
30,000 |
0.71 |
|
16 |
Vanita V Agarwal |
35,800 |
0.85 |
|
17 |
Ruchira V Agarwal |
20,700 |
0.49 |
|
|
Total |
29,41,900 |
70.05 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of Total No. of Shares |
|
|
1 |
Jaishri Properties & Export Pvt Ltd |
106300 |
2.53 |
|
|
2 |
Roshni Deepak Muraka |
50000 |
1.19 |
|
|
3 |
Krishn Maliram Agarwal HUF |
68200 |
1.62 |
|
|
4 |
Gandhi Pratik Rajendra |
43000 |
1.02 |
|
|
5 |
Shankarlal Agarwal |
53300 |
1.27 |
|
|
|
Total |
320800 |
7.64 |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Public Financial
Companies |
0.65 |
|
Bodies corporate |
7.48 |
|
Directors or relatives of Directors |
69.80 |
|
Other top fifty shareholders |
11.00 |
|
others |
11.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Decorative Laminated Sheet. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
40 (Approximately) |
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[Bankers : |
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Facilities : |
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|
Auditors : |
|
|
Name : |
J.T. Shah and Company Chartered Accountants |
|
Address : |
201-202, Lalita Complex, Navarangpura, Ahmedabad, Gujarat, India |
|
PAN No.: |
AABFJ6616J |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As On 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs. 10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4200000 |
Equity Shares |
Rs. 10/-
each |
Rs. 42.000
Millions |
|
|
|
|
|
The company has only one class of shares referred to as Equity shares having face value of Rs. 10/- Each Holder of equity share is entitled to 1 vote per share.
In the event of liquidation of the Company, the holders of equity shares will be entitled to receive any of the remaining assets of the company, after distribution of all preferential amounts. However, no such preferential amounts exist currently, the distribution will be in proportion to the number of equity shares held by the shareholder.
Reconciliation of the number of shares outstanding and the amount of share capital as at 31.03.2014 and 31.03.2013 is set out below.
|
Particulars |
31.03.2014 |
|
|
|
No. of Shares |
Rs. In millions |
|
Shares at the beginning |
4200000 |
42.000 |
|
Addition |
0.000 |
0.000 |
|
Deletion |
0.000 |
0.000 |
|
Shares at the
end |
4200000 |
42.000 |
The details of shareholders holding more than 5% shares are set
out below.
|
Name of
Shareholder |
31.03.2014 |
|
|
|
No. of Shares |
% held |
|
Mr. Vijay Agarwal |
1576100 |
37.53% |
|
Smt. Santoshdevi Agarwal |
247000 |
5.88% |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
42.000 |
42.000 |
42.000 |
|
(b) Reserves & Surplus |
56.445 |
44.889 |
34.286 |
|
(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) |
98.445 |
86.889 |
76.286 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
17.789 |
9.693 |
0.793 |
|
(b) Deferred tax liabilities (Net) |
7.550 |
5.292 |
3.985 |
|
(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) |
25.339 |
14.985 |
4.778 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
73.111 |
44.469 |
39.032 |
|
(b) Trade
payables |
119.437 |
90.804 |
56.397 |
|
(c) Other
current liabilities |
30.706 |
17.615 |
11.483 |
|
(d) Short-term
provisions |
5.072 |
2.703 |
5.315 |
|
Total Current
Liabilities (4) |
228.326 |
155.591 |
112.227 |
|
|
|
|
|
|
TOTAL |
352.110 |
257.465 |
193.291 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
79.536 |
56.732 |
33.373 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
5.154 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.007 |
0.007 |
0.007 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.849 |
4.141 |
3.065 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
89.546 |
60.880 |
36.445 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
77.756 |
58.777 |
32.635 |
|
(c) Trade
receivables |
170.532 |
129.010 |
111.414 |
|
(d) Cash
and cash equivalents |
7.675 |
4.628 |
5.790 |
|
(e)
Short-term loans and advances |
6.601 |
4.170 |
7.007 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
262.564 |
196.585 |
156.846 |
|
|
|
|
|
|
TOTAL |
352.110 |
257.465 |
193.291 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
436.321 |
345.732 |
255.067 |
|
|
|
Other Income |
1.078 |
1.012 |
2.268 |
|
|
|
TOTAL (A) |
437.999 |
346.744 |
257.335 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
334.669 |
267.964 |
177.889 |
|
|
|
Purchase of Stock-in-Trade |
1.187 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
Stock-in-Trade |
(1.670) |
(10.555) |
(3.233) |
|
|
|
Employees benefit expenses |
19.572 |
15.876 |
16.621 |
|
|
|
Other expenses |
52.553 |
46.863 |
39.143 |
|
|
|
Prior period expenses |
0.000 |
0.000 |
1.992 |
|
|
|
TOTAL (B) |
406.491 |
320.148 |
232.412 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
30.908 |
26.569 |
24.923 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.018 |
6.496 |
6.357 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
21.890 |
20.100 |
18.566 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
4.191 |
3.331 |
2.738 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
17.699 |
16.769 |
15.828 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.144 |
6.167 |
5.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX (G-H) (I) |
11.555 |
10.602 |
10.500 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
92.011 |
68.147 |
35.963 |
|
|
|
Capital Goods |
7.714 |
4.187 |
1.811 |
|
|
TOTAL IMPORTS |
99.725 |
72.334 |
37.774 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
2.75 |
2.52 |
2.50 |
|
Expected Sales (2014-15): Rs. 520.000 Millions.
The above information has been parted by Mr. S. Murthy (Export Manager).
QUARTERLY RESULTS
|
Particulars |
30.09.2014 |
30.06.2014 |
|
Unaudited |
Unaudited |
|
|
Net Sales |
1257.000 |
93.800 |
|
Total Expenditure |
118.700 |
87.400 |
|
PBIDT (Excl OI) |
7.000 |
6.400 |
|
Other Income |
0.200 |
1.800 |
|
Operating Profit |
7.100 |
8.200 |
|
Interest |
3.000 |
2.700 |
|
Exceptional Items |
0.000 |
0.000 |
|
PBDT |
4.100 |
5.500 |
|
Depreciation |
2.000 |
1.700 |
|
Profit Before Tax |
2.100 |
3.800 |
|
Tax |
0.300 |
1.800 |
|
Provisions and contingencies |
0.000 |
0.000 |
|
Profit After Tax |
1.800 |
2.000 |
|
Extraordinary Items |
0.000 |
0.000 |
|
Prior Period Expenses |
0.000 |
0.000 |
|
Other Adjustments |
0.000 |
0.000 |
|
Net Profit |
1.800 |
2.000 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
2.64
|
3.06 |
4.11 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
5.01
|
7.68 |
10.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.10 |
6.51 |
8.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18 |
0.19 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92 |
0.62 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.26 |
1.40 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
42.000 |
42.000 |
42.000 |
|
Reserves & Surplus |
34.286 |
44.889 |
56.445 |
|
Net
worth |
76.286 |
86.889 |
98.445 |
|
|
|
|
|
|
long-term borrowings |
0.793 |
9.693 |
17.789 |
|
Short term borrowings |
39.032 |
44.469 |
73.111 |
|
Total
borrowings |
39.825 |
54.162 |
90.900 |
|
Debt/Equity
ratio |
0.522 |
0.623 |
0.923 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
255.067 |
345.732 |
436.321 |
|
|
|
35.546 |
26.202 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
255.067 |
345.732 |
436.321 |
|
Profit |
10.500 |
10.602 |
11.555 |
|
|
4.12% |
3.07% |
2.65% |
LOCAL AGENCY FURTHER INFORMATION
Note: Current
Maturity Long Term Debt are not available.
|
Sr. No. |
Check
List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
------------------------ |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
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 |
Yes |
OPERATIONS
During the year, the company's net sales increase to Rs.436.321 Millions
as compared to Rs.345.732 Millions during the previous year showing the growth of
over 26.20% compared to previous year. Despite the steep price increase by the
suppliers of the vital raw material on account of spiraling crude oil prices in
the international prices, the efficient management of resources and cost
controls exercised by the international prices, your company has performed
exceedingly well during the year and hopes to continue the growth momentum in
the current year also.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10404374 |
12/02/2013 |
10,300,000.00 |
HDFC BANK LIMITED |
HDFC BANK
HOUSESENAPATI BAPAT MARG, LOWER PAREL W |
B68605278 |
|
2 |
80051026 |
18/01/2014 * |
98,200,000.00 |
State Bank of India |
Laghu Udhyog Branch, Opp. Gandhgram Railway Station, Ahmedabad, Gujarat - 380009, INDIA |
B95702585 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan from Relatives |
23.019 |
21.810 |
|
|
|
|
|
Total |
23.019 |
21.810 |
FIXED ASSETS
- Land
Leasehold
- Office
Buildings
- Factory
Building
- Plant and
Machinery
- Office
Equipment
- Vehicles
- Computers
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. 61.13 |
|
|
1 |
Rs. 97.05 |
|
Euro |
1 |
Rs. 77.36 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYO |
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 |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.