MIRA INFORM REPORT
|
Report Date : |
30.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
SREE JAYAJOTHI CEMENTS LIMITED |
|
|
|
|
Registered
Office : |
No.18/3, Rukmini Lakshmipathi Road, Egmore, Chennai – 600008,
Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.12.2006 |
|
|
|
|
Com. Reg. No.: |
18-061729 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.5235.113 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U02695TN2006PLC061729 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES27400C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAKCS4185M |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Cement. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Sick company |
|
|
|
|
Payment Behaviour : |
Slow and Delayed |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is declared as a sick company under section 3(1) (O) of sick
industrial companies (special provisions) act 1985. Management of the company has failed to file its latest financial of
2014 with government department. As accumulated losses has exceeded its net worth, company has become
sick company under SICA 1985 and accordingly application has made to BIFR for
determination of remedial measures for revival of the company after approval
of shareholders of the company. Business is active. Payment terms are slow and delayed. The company can be considered for business dealings on a fully secured
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.
ECGC Country Risk Classification List – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities : D (Withdrawn) |
|
Rating Explanation |
Lowest credit quality and very low prospect
of recovery. |
|
Date |
02.04.2014 |
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 DECLINED
MANAGEMENT NON –COOPERATIVE (91-44-40406373)
LOCATIONS
|
Registered Office : |
No.18/3, Rukmini Lakshmipathi Road, Egmore, Chennai – 600008,
Tamilnadu, India |
|
Tel. No. : |
91-44-40406373 |
|
Fax No. : |
91-44-43506171 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office1 : |
Sree Jayajothi Cements Limited, # 7th Floor, KRD Gee
Crystal, 91 and 92, Dr. Radhakrishnan Salai,Mylapore, CHENNAI - 600 004,
Tamilnadu, India |
|
Tel. No. : |
91- 44 - 40406373 |
|
Fax No. : |
91- 44 - 43506171 |
|
|
|
|
Corporate Office 2 : |
9th Floor, Block 3, My Home Hub, Madhapur, Hyderabad – 500081, Andhra Pradesh, India |
|
|
|
|
Factory : |
Sathu Ramasamy Nagar, Yanakandala village - 518 124,
Banaganapalli Mandal, Kurnool District,
Andhra Pradesh, India |
|
Tel. No. : |
91- 8515 - 200505 |
|
Fax No. : |
91- 8515 - 200507 |
DIRECTORS
As on 14.08.2013
|
Name : |
Mr. Gokul Kannan |
|
Designation : |
Director |
|
Address : |
186, Avvai Shanmugam salai Gopalapuram, Chennai – 600086, Tamilnadu,
India |
|
Date of Birth/Age : |
12.09.1981 |
|
Date of Appointment : |
12.12.2006 |
|
DIN No. : |
00391940 |
|
|
|
|
Name : |
Mr. Ramasamy Naicker Kannan |
|
Designation : |
Director |
|
Address : |
186, Avvai Shanmugam salai Gopalapuram, Chennai – 600086, Tamilnadu,
India |
|
Date of Birth/Age : |
09.08.1956 |
|
Date of Appointment : |
12.12.2006 |
|
DIN No. : |
00356817 |
|
|
|
|
Name : |
Padmanabhan Krishnamurthy |
|
Designation : |
Director |
|
Address : |
Flat 1B, Suvarna Lok, Old No. 19, New No. 34, Malony Road, T Nagar, Chennai
– 600017, Tamilnadu, India |
|
Date of Birth/Age : |
30.04.1946 |
|
Date of Appointment : |
31.08.2012 |
|
DIN No. : |
03394514 |
|
|
|
|
Name : |
Thyagarajan Padmanabhan |
|
Designation : |
Director |
|
Address : |
Flat no. 2-A, Jamal Masila, III Am, No. 162, Rangarajapuram Main Road,
Kodambakkam, Chennai – 600024, Tamilnadu, India |
|
Date of Birth/Age : |
23.04.1951 |
|
Date of Appointment : |
22.05.2012 |
|
DIN No. : |
03468224 |
|
|
|
|
Name : |
Mr. Ravindra Pal Singh |
|
Designation : |
Managing Director |
|
Address : |
Flat No. D 112, Jayabheri Orange Country, Nanakramguda Financial
District, Near Wipro Circle, Gachibowli, Hyderabad – 500032, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.07.1955 |
|
Date of Appointment : |
29.11.2013 |
|
DIN No. : |
06444933 |
KEY EXECUTIVES
|
Name : |
Mr. Balaji Srinivasan |
|
Designation : |
Secretary |
|
Address : |
6/14, Muneeswar Niwsa, Arulambal Stree, T. Nagar, Chennai – 600017,
Tamilnadu, India |
|
Date of Birth/Age : |
09.11.1963 |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
AIQPS4015D |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 14.08.2013
|
Names of Shareholders |
No. of Shares |
|
T. R. Kannan |
29604000 |
|
Krishnanveni Kannan |
10305300 |
|
K. Gokul |
10260800 |
|
Jayajothi and Company Limited, India |
18228136 |
|
Ayalakshmi Textliles Private limited, India |
19972122 |
|
Jayajothi Power |
35182300 |
|
Divyalakshmi Textiles Private Limited, India |
5050000 |
|
Venkatachalapathy |
21922494 |
|
Santee Auto |
5757981 |
|
Internitco. |
330205 |
|
Manoj Kedia |
100000 |
|
P. Lohanatha Raju |
500 |
|
K. G. Parthasarthy |
500 |
|
Rajiv parthasarathy |
500 |
|
P. Mahalakshmi |
500 |
|
A.S. Venkhat Ramani |
1500000 |
|
Shriram EPC Limited, India |
98554535 |
|
T. R. Varadarajan |
1042781 |
|
V. Ramkuar |
4406416 |
|
V. Venkatalakshmi |
3000000 |
|
V. Champakadevi |
1794117 |
|
Spark Environmental Technology Limited, India |
256455645 |
|
Krishna Devi Pramod Agarwal |
42500 |
|
|
|
|
Total |
523511332 |
As on 14.08.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional investor(s),
Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s)
or Overseas Corporate bodies or Others |
1.16 |
|
Bodies corporate |
86.98 |
|
Directors or relatives of Directors |
10.13 |
|
Other top fifty shareholders |
1.73 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Cement. |
||||
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||||
|
Products : |
|
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|
|
|
||||
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Brand Names : |
Not Divulged |
||||
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|
||||
|
Agencies Held : |
Not Divulged |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
Not Divulged |
GENERAL INFORMATION
|
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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|||||||||||||||||||||||||||||
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Facilities : |
|
|||||||||||||||||||||||||||||
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Krishnan and Raman Chartered Accountants |
|
Address : |
No 42, Sevalpatti, South Street, Rajapalayam – 626117, Tamilnadu,
India |
|
PAN
No.: |
AAIFK1850P |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associates : |
Ø Sri
Jayajothi and Company Limited CIN No.: U51102TN1981PLC008702 Ø Jayalakshmi
Textiles Private Limited CIN No.: U17111TN1995PTC032148 Ø Divyalakshmi
Textiles Private Limited CIN No.: U17112TN2005PTC055700 Ø Sri Jayajothi
Power Management Company Private Limited CIN No.: U40101TN2002PTC049988 Ø Kovilpatti Steel
Rolling Industries Private Limited CIN No.: U27104TN1961PTC004402 Ø Shriram EPC
Limited CIN No.: L74210TN2000PLC045167 Ø Shriram Value
Services Private Limited CIN No.: U63090TN1995PTC033513 Ø Shriram
Distribution Services Private Limited CIN No.: U74999TN2009PTC071206 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
525000000 |
Equity Shares |
Rs.10/- each |
Rs.5250.000 Millions |
|
5500 |
Preferences Shares |
Rs.100000/- each |
Rs. 550.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.5800.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
523511332 |
Equity Shares |
Rs.10/- each |
Rs.5235.113 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 |
5235.113 |
2147.111 |
2029.836 |
|
(b) Reserves & Surplus |
(5241.326) |
(3143.451) |
(1286.735) |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
5.000 |
122.275 |
|
Total
Shareholders’ Funds (1) + (2) |
(6.213) |
(991.340) |
865.376 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
4366.243 |
5119.061 |
7087.621 |
|
(b) Deferred tax liabilities (Net) |
936.218 |
684.022 |
376.794 |
|
(c) Other long term
liabilities |
3212.736 |
2485.891 |
142.944 |
|
(d) long-term
provisions |
15.236 |
12.919 |
6.065 |
|
Total Non-current
Liabilities (3) |
8530.433 |
8301.893 |
7613.424 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2798.220 |
1733.084 |
556.318 |
|
(b) Trade
payables |
612.729 |
669.947 |
3510.226 |
|
(c) Other
current liabilities |
381.875 |
3161.519 |
69.579 |
|
(d) Short-term
provisions |
328.935 |
0.799 |
0.498 |
|
Total Current
Liabilities (4) |
4121.759 |
5565.349 |
4136.621 |
|
|
|
|
|
|
TOTAL |
12645.979 |
12875.902 |
12615.421 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
10959.761 |
11303.006 |
10942.982 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
40.716 |
352.564 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
74.131 |
60.567 |
2.139 |
|
Total Non-Current
Assets |
11033.892 |
11404.289 |
11297.685 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
670.462 |
648.784 |
336.273 |
|
(c) Trade
receivables |
342.923 |
105.497 |
52.926 |
|
(d) Cash
and cash equivalents |
52.919 |
65.918 |
57.749 |
|
(e)
Short-term loans and advances |
403.805 |
505.737 |
823.727 |
|
(f) Other
current assets |
141.978 |
145.677 |
47.061 |
|
Total
Current Assets |
1612.087 |
1471.613 |
1317.736 |
|
|
|
|
|
|
TOTAL |
12645.979 |
12875.902 |
12615.421 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4414.338 |
4430.416 |
1366.807 |
|
|
|
Other Income |
11.535 |
95.690 |
64.040 |
|
|
|
TOTAL |
4425.873 |
4526.106 |
1430.847 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
687.269 |
727.034 |
760.650 |
|
|
|
Changes in
inventories of finished goods, work-in-progress and stock-in-trade |
(103.998) |
105.532 |
(142.686) |
|
|
|
Employee benefit expense |
167.459 |
95.199 |
59.823 |
|
|
|
Other expenses |
3495.664 |
3286.320 |
866.404 |
|
|
|
Exceptional Item |
5.117 |
0.000 |
0.000 |
|
|
|
TOTAL |
4251.511 |
4214.085 |
1544.191 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
174.362 |
312.021 |
(113.344) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1289.393 |
1233.649 |
642.717 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
(1115.031) |
(921.628) |
(756.061) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
659.649 |
627.860 |
386.526 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
(1774.680) |
(1549.488) |
(1142.587) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
252.195 |
307.228 |
376.928 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
(2026.875) |
(1856.716) |
(1519.515) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(3.87) |
(10.70) |
(2.90) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin |
(%) |
(45.92) |
(41.91) |
(111.17) |
|
|
|
|
|
|
|
Operating Profit Margin |
(%) |
3.95 |
7.04 |
(8.29) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(14.03)
|
(12.07) |
(9.31) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
285.64
|
1.56 |
(1.32) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
(1153.14)
|
(6.91) |
8.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.39
|
0.26 |
0.32 |
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 |
2029.836 |
2147.111 |
5235.113 |
|
Reserves & Surplus |
(1286.735) |
(3143.451) |
(5241.326) |
|
Net
worth |
743.101 |
(996.340) |
(6.213) |
|
|
|
|
|
|
long-term borrowings |
7087.621 |
5119.061 |
4366.243 |
|
Short term borrowings |
556.318 |
1733.084 |
2798.220 |
|
Total
borrowings |
7643.939 |
6852.145 |
7164.463 |
|
Debt/Equity
ratio |
10.287 |
(6.877) |
(1,153.141) |
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 |
1366.807 |
4430.416 |
4414.338 |
|
|
|
224.143 |
(0.363) |
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 |
1366.807 |
4430.416 |
4414.338 |
|
Profit |
(1519.515) |
(1856.716) |
(2026.875) |
|
|
(111.17%) |
(41.91%) |
(45.92%) |
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 |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The registered office of the company has been shifted from Old No.23,
New No. 47, Fourth Avenue, Ashok Nagar Chennai - 600083, Tamilnadu, India to
the present address w.e.f. 17.10.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits |
61.721 |
72.095 |
|
|
|
|
|
Total |
61.721 |
72.095 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10453390 |
21/09/2013 |
2,000,000,000.00 |
Axis Bank Limited |
CORPORATE BANKING BRANCH, GROUND FLOOR,
KARUMUTHU NILAYAM.192 ANNA SALAI, CHENNAI, Tamil Nadu - 600002, INDIA |
B86811262 |
|
2 |
10447569 |
26/08/2013 |
1,191,500,000.00 |
INDIAN BANK |
HARBOUR BRANCH, 66 RAJAJI SALAI., CHENNAI,
Tamil Nadu - 600001, INDIA |
B84291921 |
|
3 |
10393524 |
19/12/2012 |
1,900,000,000.00 |
INDIAN BANK |
HARBOUR BRANCH, 66 RAJAJI SALAI, CHENNAI,
Tamil N adu - 600001, INDIA |
B64728249 |
|
4 |
10307548 |
16/03/2012 * |
1,450,000,000.00 |
INDIAN BANK |
HARBOUR BRANCH, 66 RAJAJI SALAI., CHENNAI,
Tamil Nadu - 600001, INDIA |
B37702222 |
|
5 |
10301880 |
10/08/2011 |
5,032,100,000.00 |
Shriram EPC Limited |
4th Floor, Sigappi Achi Building,, Door.No:
18/3 |
B18693952 |
|
6 |
10182669 |
27/10/2009 * |
900,000,000.00 |
INDIAN BANK |
HARBOUR BRANCH., 66 RAJAJI SALAI, CHENNAI,
Tamil Nadu 600001, INDIA |
A72686546 |
|
7 |
10177950 |
27/10/2009 * |
806,400,000.00 |
INDIAN BANK |
HARBOUR BRANCH., 66 RAJAJI SALAI, CHENNAI,
Tamil Nadu- 600001, INDIA |
A72565823 |
|
8 |
10086034 |
03/06/2008 * |
4,490,000,000.00 |
INDIAN BANK |
66 RAJAJI SALAI, HARBOUR BRANCH, CHENNAI,
Tamil Nadu - 600001, INDIA |
A39437918 |
* Date of charge modification
FUTURE OUTLOOK
The cement
industry is under a difficult phase as there is excess capacity compare to the demand,
because of which the capacity utilization of the industry is about 65% in the
country.
The management is
making sincere efforts to increase the production by arranging the necessary
finances for day to day operations of the company. As the plant located in
southern region of Andhra Pradesh, which is historically a good region for
better price realization and also the cement can be also in the states of Tamil
Nadu, Karnataka, Kerala and nearby Regions. The management is the process of
strengthen the marketing team and trying got improve the brand image by giving
advertisement about the product.
Keeping in view
the above efforts being made your directors are of the opinion that the
performance of the company is expected to improve in the next two to three
years.
FIXED ASSETS
Ø Land
Ø Buildings
Ø Plant and equipment
Ø Furniture and fixtures
Ø Vehicles
Ø Office equipment
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.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
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.