MIRA INFORM REPORT
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Report Date : |
29.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
AGARWAL INDUSTRIAL CORPORATION LIMITED |
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Registered
Office : |
Eastern Court, Unit No. 201-202, Plot No. 12, V.N. Purav Marg, S.T. Road,
Chembur, Mumbai – 400071, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
13.01.1995 |
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Com. Reg. No.: |
11-084618 |
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Capital
Investment / Paid-up Capital : |
Rs. 55.129 Millions |
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CIN No.: [Company Identification
No.] |
L99999MH1995PLC084618 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Subject is engaged in the business activities of manufacturing and trading of Petrochemicals (Bitumen and Bituminous Products), Logistics of Bitumen and LPG and energy generation through Wind Mills |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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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 a satisfactory track record. Financial position of the company seems to be decent. Trade relations are reported as 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 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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 |
EXTERNAL AGENCY RATING
Not Available
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 (91-22-25291149)
LOCATIONS
|
Registered Office : |
Eastern Court, Unit No. 201-202, Plot No. 12, V.N. Purav Marg, S.T.
Road, Chembur, Mumbai – 400071, Maharashtra, India |
|
Tel. No.: |
91-22-25291149/50 |
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Fax No.: |
91-22-25291147 |
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E-Mail : |
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Website : |
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Factory 1 : |
Plot No. 40, KIADB, Honga Industrial Area, Honga, Belgaum, Karnataka,
India |
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Factory 2 : |
Survey No. 196, Elikatta Village Farooq Nagar Mandal, Mahbubnagar –
509410, Andhra Pradesh, India |
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Branches |
Located at
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DIRECTORS
AS ON 31.03.2014
|
Name : |
Mr. Jaiprakash Agarwal |
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Designation : |
Managing Director |
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Name : |
Mr. Ramchandra Agarwal |
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Designation : |
Whole Time Director |
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Name : |
Mr. Mahendra Agarwal |
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Designation : |
Director |
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Name : |
Mr. Lalit Agarwal |
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Designation : |
Whole Time Director |
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Name : |
Mr.Jaswant D. Sharma |
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Designation : |
Director |
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Name : |
Mr. Harikrishna Patni |
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Designation : |
Director |
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Name : |
Mr. Rajkumar Mehta |
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Designation : |
Director |
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Name : |
Mr. Alok Bharara |
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Designation : |
Director |
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Name : |
Mr. Jawahar D. Patil |
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Designation : |
Whole Time Director (Registered w.e.f. 15.11.2013) |
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Name : |
Mr. R.T. Rajguroo |
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Designation : |
Director (Registered w.e.f. 16.04.2014) |
KEY EXECUTIVES
|
Name : |
Mr. Rakesh Bhalla |
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Designation : |
CFO and Company Secretary |
SHAREHOLDING PATTERN
As on 30.09.2014
|
Category
of Shareholder |
Total No.
of Shares |
Total Shareholding
as a % of Total No. of Shares |
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|
|
As a % of (A+B) |
|
(A) Shareholding of Promoter
and Promoter Group |
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|
|
|
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|
2940545 |
53.34 |
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|
2940545 |
53.34 |
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Total shareholding of Promoter
and Promoter Group (A) |
2940545 |
53.34 |
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(B) Public Shareholding |
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|
507486 |
9.21 |
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|
971548 |
17.62 |
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|
1071363 |
19.43 |
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|
21958 |
0.40 |
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|
19688 |
0.36 |
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|
2270 |
0.04 |
|
|
2572355 |
46.66 |
|
Total Public shareholding (B) |
2572355 |
46.66 |
|
Total (A)+(B) |
5512900 |
100.00 |
|
(C) Shares held by Custodians and
against which Depository Receipts have been issued |
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|
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|
0 |
0.00 |
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|
0 |
0.00 |
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0 |
0.00 |
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Total (A)+(B)+(C) |
5512900 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business activities of manufacturing and trading of Petrochemicals (Bitumen and Bituminous Products), Logistics of Bitumen and LPG and energy generation through Wind Mills |
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Products : |
Not Divulged |
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Brand Names : |
Not Divulged |
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Agencies Held : |
Not Divulged |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
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Selling : |
Not Divulged |
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Purchasing : |
Not Divulged |
PRODUCTION STATUS: Not Available
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
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Facilities : |
(Secured against Hypothecation of Stock and Book Debts and secured by mortgage and charge on all movable assets of the Company and personal guarantee of the Directors) |
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Auditors : |
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Name : |
Ladha Singhal and Associates Chartered Accountants |
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Address : |
209, Apollo Complex, R.K.Singh Marg, Off. Parsi Panchayat Road, Near
Sona Udyog, Andheri (East), Mumbai – 400069, Maharashtra, India |
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Memberships : |
Not Divulged |
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Collaborators : |
Not Divulged |
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Subsidiary: |
Bituminex Cochin Private Limited |
CAPITAL STRUCTURE
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
6000000 |
Equity Shares |
Rs.10/- each |
Rs.60.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
5512900 |
Equity Shares |
Rs.10/- each |
Rs. 55.129 Millions |
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Reconciliation of
number of shares outstanding at the beginning and at the end of the reporting
period
|
Particular |
As at 31.03.2014 |
|
Number of shares at the beginning of the year |
5.513 |
|
Add: Issue of Shares during the year (Reissue of forfeited shares) |
-- |
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Number of shares at the end of the year |
5.513 |
Terms/rights attached
to Equity Shares
The Company has only one class of equity shares having a par value of Rs. 10 per share. Each holder of Equity Shares is entitled to one vote per share. In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaning assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
Detail of shares held
by the holding company, the ultimate holding
Nil
Company, their
subsidiaries and associates:
Details of
shareholder holding more than 5% shares in the company:
|
Name of Share
Holder |
As at 31st March 2014 |
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|
No. of Shares |
% of Holding |
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|
Ramchandra Agarwal |
370700 |
6.72 |
|
Jaiprakash Agarwal |
407600 |
7.39 |
|
Mahendra Kumar Agarwal |
362600 |
6.58 |
|
Kishan Kumar Agarwal |
348200 |
6.32 |
|
Jugalkishore Agarwal |
331500 |
6.01 |
|
Lalit Kumar Agarwal |
302000 |
5.48 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
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I.
EQUITY AND LIABILITIES |
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(1)Shareholders' Funds |
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(a) Share Capital |
55.129 |
55.129 |
49.140 |
|
(b) Reserves &
Surplus |
328.126 |
287.438 |
80.630 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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(2) Share Application
money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds
(1) + (2) |
383.255 |
342.567 |
129.770 |
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(3) Non-Current
Liabilities |
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(a) long-term borrowings |
40.854 |
23.954 |
175.879 |
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(b) Deferred tax
liabilities (Net) |
10.785 |
12.803 |
13.013 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.734 |
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Total Non-current
Liabilities (3) |
51.639 |
36.757 |
189.626 |
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(4) Current Liabilities |
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(a) Short term borrowings |
262.479 |
179.134 |
148.862 |
|
(b) Trade payables |
32.127 |
27.470 |
67.829 |
|
(c) Other current
liabilities |
76.344 |
51.177 |
5.635 |
|
(d) Short-term provisions |
9.014 |
6.451 |
14.189 |
|
Total Current Liabilities
(4) |
379.964 |
264.232 |
236.515 |
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|
|
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TOTAL |
814.858 |
643.556 |
555.911 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed Assets |
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|
(i) Tangible assets |
278.709 |
247.025 |
201.714 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.531 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
23.255 |
23.255 |
23.255 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
17.386 |
17.635 |
13.596 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
319.350 |
287.915 |
239.096 |
|
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|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
1.000 |
0.000 |
0.000 |
|
(b) Inventories |
48.043 |
47.607 |
84.736 |
|
(c) Trade receivables |
272.394 |
170.639 |
126.960 |
|
(d) Cash and cash
equivalents |
74.743 |
52.283 |
89.634 |
|
(e) Short-term loans and
advances |
98.445 |
84.691 |
15.101 |
|
(f) Other current assets |
0.883 |
0.421 |
0.384 |
|
Total Current Assets |
495.508 |
355.641 |
316.815 |
|
|
|
|
|
|
TOTAL |
814.858 |
643.556 |
555.911 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
1764.109 |
1167.498 |
785.225 |
|
|
Other Income |
6.328 |
-2.047 |
9.366 |
|
|
TOTAL (A) |
1770.437 |
1165.451 |
794.591 |
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
Operating Expenses |
218.944 |
189.015 |
0.000 |
|
|
Cost of Materials
Consumed |
390.487 |
285.671 |
564.168 |
|
|
Purchases of
Stock-in-Trade |
941.876 |
482.758 |
0.000 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
1.333 |
39.833 |
(78.773) |
|
|
Employees benefits
expense |
19.233 |
15.208 |
12.725 |
|
|
Manufacturing and Other
Direct Expenses |
39.659 |
28.955 |
0.000 |
|
|
Production Expense |
0.000 |
0.000 |
0.402 |
|
|
Other expenses |
21.664 |
14.001 |
220.382 |
|
|
TOTAL (B) |
1633.196 |
1055.441 |
718.904 |
|
|
|
|
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|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
137.241 |
110.010 |
75.687 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
32.541 |
20.144 |
12.769 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
104.700 |
89.866 |
62.918 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION
(F) |
41.469 |
38.970 |
33.217 |
|
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|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
63.231 |
50.896 |
29.701 |
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Less |
TAX (H) |
13.573 |
17.314 |
5.577 |
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|
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|
|
PROFIT/ (LOSS) AFTER TAX
(G-H) (I) |
49.658 |
33.582 |
24.124 |
|
|
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|
Add |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD (J) |
287.438 |
80.629 |
56.505 |
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|
APPROPRIATIONS |
|
|
|
|
|
Proposed Dividend on
Equity Shares |
7.718 |
5.237 |
0.000 |
|
|
Dividend Distribution Tax |
1.252 |
0.850 |
0.000 |
|
|
Total (K) |
8.970 |
6.087 |
0.000 |
|
|
|
|
|
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|
Balance Carried to the
B/S (I+J-K) |
328.126 |
287.438 |
80.629 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per Share
(Rs.) |
|
|
|
|
|
Basic |
9.01 |
6.09 |
5.89 |
|
|
Diluted |
9.01 |
7.69 |
10.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
|
Net Profit Margin (PAT / Sales) |
(%) |
2.81 |
2.88 |
3.07 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
7.78 |
9.42 |
9.64 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.99 |
8.21 |
5.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.15 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.79 |
0.59 |
2.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30 |
1.35 |
1.34 |
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 |
49.140 |
55.129 |
55.129 |
|
Reserves & Surplus |
80.630 |
287.438 |
328.126 |
|
Net worth |
129.770 |
342.567 |
383.255 |
|
|
|
|
|
|
long-term borrowings |
175.879 |
23.954 |
40.854 |
|
Short term borrowings |
148.862 |
179.134 |
262.479 |
|
Total borrowings |
324.741 |
203.088 |
303.333 |
|
Debt/Equity ratio |
2.502 |
0.593 |
0.791 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2013 |
31.03.2012 |
31.03.2014 |
|
|
(Rs. In Millions) |
(Rs. In Millions) |
(Rs. In Millions) |
|
Sales |
785.225 |
1167.498 |
1764.109 |
|
|
|
48.683 |
51.102 |
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 |
785.225 |
1167.498 |
1764.109 |
|
Profit |
24.124 |
33.582 |
49.658 |
|
|
3.07% |
2.88% |
2.81% |
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 |
No |
|
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 |
MANAGEMENT DISCUSSION
AND ANALYSIS
The Indian Economy
The economy of India is the tenth-largest in the world by nominal GDP and the third-largest by purchasing power parity (PPP). The country is one of the G-20 major economies, a member of BRICS and a developing economy that is among the top 20 global traders according to the WTO. India was the 19th-largest merchandise and the 6th largest services exporter in the world in 2013; it imported a total of $616.7 billion worth of merchandise and services in 2013, as the 12th-largest merchandise and 7th largest services importer. India's economic growth slowed to 4.7% for the 2013-14 fiscal year, in contrast to higher economic growth rates in 2000s. IMF projects India's GDP to grow at 5.4% over 2014-15. Agriculture sector is the largest employer in India's economy but contributes a declining share of its GDP (13.7% in 2012-13). Its manufacturing industry has held a constant share of its economic contribution, while the fastest-growing part of the economy has been its services sector – which includes construction, telecom, software and information technologies, infrastructure, tourism, education, health care, travel, trade, banking and others components of its economy.
Despite the slackness and sluggishness in the Indian economy which is trailing behind for some time now, it is estimated that India which is the third largest economy will become the world's third largest by the year 2050. For achieving this, a need for more robust and vast infrastructure is inevitable. Spanning from roadways to airways, ports to airports to power production facilities, Indian infrastructure segment is the thrust for the development of the nation and hence enjoys intense attention from top grade policy makers of the country. Liberal and supportive Government policies coupled with deliberate strategies to promote infrastructure spells great opportunity for manufacturing, engineering and construction companies in India.
FINANCIAL PERFORMANCE
AND OPERATIONS:
The key indicators of the Company's financial performance for the year ended March 31, 2014 are presented in the accompanying financial statements, which have been prepared in accordance with the requirements of the Companies Act, 1956 and the Generally Accepted Accounting Principles (GAAP) and Accounting Standards prevailing in India.
During the financial year 2013-2014, the Company achieved a Turnover of Rs.17,70.436 Millions and made a Net Profit before Interest and depreciation of Rs. 137.241 Millions as compare to Turnover of Rs. 1165.451 Millions and made Profit before Interest and Depreciation of Rs. 110.010 Millions in the previous Financial year. The Company's Net Profit after Tax for the Financial Year 2013-14 was Rs. 49.658 Millions as compared to Rs. 33.582 Millions in the Financial Year 2012 - 2013. The Net Worth of the Company for the Financial Year 2013-14 was Rs. 383.254 Millions as compared to Rs. 342.567 Millions during the Financial Year 2012-13, thus indicating an impressive growth on all these fronts. The Company is hopeful to sustain its growth track record and expects to perform better in the current financial year 2014-15.
BACKGROUND:
Subject is a public company incorporated under the provisions of the Companies Act, 1956. The Company is principally engaged in the business activities of manufacturing and trading of Petrochemicals (Bitumen and Bituminous Products), Logistics of Bitumen and LPG and energy generation through Wind Mills.
VIEW INDEX OF
CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10513924 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15668494 |
|
2 |
10513934 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15670672 |
|
3 |
10513983 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15686264 |
|
4 |
10513993 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15692502 |
|
5 |
10514005 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15701782 |
|
6 |
10514008 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15704240 |
|
7 |
10514013 |
15/07/2014 |
1,494,000.00 |
Axis Bank Limited |
TRISHUL 3RD FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, Gujarat - 380006, INDIA |
C15706690 |
|
8 |
10486875 |
28/03/2014 |
15,080,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, Maharashtra - 400013, INDIA |
C01151588 |
|
9 |
10472867 |
22/03/2014 * |
265,000,000.00 |
ING VYSYA BANK LIMITED |
SHOP NO.3 TO 7, PLOT NO. 175, RUNWAL GRANDEUR, 18 TH ROAD, CHEMBUR (WEST), MUMBAI, Maharashtra - 400071, INDIA |
C10959500 |
|
10 |
10460414 |
30/10/2013 |
16,022,500.00 |
ING VYSYA BANK LIMITED |
22, M G ROAD,BANGALORE, BANGALORE, Karnataka - 560001, INDIA |
B89626808 |
* Date of charge modification
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
Disputed demand not provided for in respect of:- |
|
|
|
i) Sales Tax (Net of Part Payment) |
0.190 |
Nil |
|
ii) Entry Tax (Net of Part Payment) |
7.810 |
Nil |
To the best of knowledge of the management, there are no events occurring after the Balance sheet date that provide additional information materially affecting the determination of the amount relating to the conditions existing at the Balance Sheet date that requires adjustment to the Assets or Liabilities of the Company.
FIXED ASSETS
- Commercial Vehicles
- Furniture and Fixture
- Office and Other Equipments
- Other Vehicle
- Borewell
- Wind Mill
- Plot
- Workshop
- Land
- Plant and Machinery
- Factory Land
- Factory Building
- Factory Shed
- AC at New Office
- Building
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. 63.63 |
|
|
1 |
Rs. 98.97 |
|
Euro |
1 |
Rs. 77.74 |
INFORMATION DETAILS
|
Information Gathered
by : |
GYA |
|
|
|
|
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 |
|
--PROFITABILITY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
51 |
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.