MIRA INFORM REPORT
|
Report Date : |
31.12.2014 |
IDENTIFICATION DETAILS
|
Name : |
LAXCON STEELS LIMITED [w.e.f.
21.06.2007] |
|
|
|
|
Formerly Known
As : |
LAXCON STEELS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 235, Sarkhej Bavla, N H 8A, Village Sari, Taluka Sanand
District Ahmedabad – 382 220, |
|
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|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
12.08.1999 |
|
|
|
|
Com. Reg. No.: |
04-036413 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.134.429 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27100GJ1999PLC036413 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
AHML00104G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL5064A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company. |
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|
|
|
Line of Business
: |
Manufacturer, Exporter and Importer of Alloy Steel, Stainless Steel,
Mild Steel etc. |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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Comments : |
Subject belongs to Delhi based Gopal Group of companies. It is an
established company having satisfactory track. Management has filed form 20B depicting annual return for FY14
whereas, failed to file any financial statement with statutory authorities. As per available, the company possesses a favorable financial profile
marked by adequate networth base along with a moderate liquidity owing to the
elongation of its operating cycle leading to high working capital intensity
of its operations. Management has reported a decent sales volume and moderate
profitability during FY13, which is further susceptible to volatility in raw
material prices and foreign exchange fluctuations. The rating also take into consideration the slight improvement in its
liquidity due to equity infusion by the promoters. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of vast experience and resourcefulness of the promoters, the subject
can be considered for business dealing 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facility = BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
04.08.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facility = A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
04.08.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DENIED
Management Non-Co-operative (91-79-40007600)
LOCATIONS
|
Registered Office/ Factory : |
Plot No. 235, Sarkhej Bavla, N H 8A, Village Sari, Taluka Sanand
District Ahmedabad – 382 220, |
|
Tel. No.: |
91-79-40007600 |
|
Fax No.: |
91-79-40007666 |
|
E-Mail : |
|
|
Website : |
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|
Area : |
35000 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Administrative Office : |
Rajii Arcrade, 2nd Floor, |
|
Tel. No.: |
91-79-40007600 [100 Lines] / 27478474 |
|
Fax No.: |
91-79-4007666 / 67 / 27478471 |
|
Area : |
2060 Sq. ft. |
|
Location : |
Owned |
|
|
|
|
Corporate Office
: |
C-55/2, Wazirpur Industrial Area, |
|
Tel. No.: |
91-11-42952500 [100 Lines] / 27377001/ 5 |
|
Fax No.: |
91-11-27377373 / 7474 |
|
E-Mail : |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Gopal Swarup Surender Pal Gupta |
|
Designation : |
Managing Director |
|
Address : |
H-34, Ashok Vihar, Phase – I, |
|
Date of Birth/Age : |
26.03.1965 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
05.04.2012 |
|
PAN No : |
AAGPG3933L |
|
DIN : |
00381600 |
|
|
|
|
Name : |
Mr. Vinod Surender Pal Gupta |
|
Designation : |
Director |
|
Address : |
H-34, Ashok Vihar, Phase – I, |
|
Date of Birth/Age : |
07.06.1977 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
20.03.2002 |
|
PAN No : |
AACHV3943D |
|
DIN : |
00381782 |
|
|
|
|
Name : |
Mr. Sanjay Gupta |
|
Designation : |
Director |
|
Address : |
1009/67, |
|
Date of Birth/Age : |
08.11.1968 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
20.03.2002 |
|
PAN No : |
AAIPG0571C |
|
DIN : |
00383021 |
|
|
|
|
Name : |
Mr. Rajan G Garg |
|
Designation : |
Director |
|
Address : |
20/42, West Punjabi Baug, |
|
Date of Birth/Age : |
25.09.1975 |
|
Qualification : |
B.Com. |
|
Date of Appointment : |
01.04.2004 |
|
PAN No : |
AHFPG1259F |
|
DIN : |
00439436 |
|
|
|
|
Name : |
Mr. Naresh Kumar Kakkar |
|
Designation : |
Director |
|
Address : |
76, Vaishali Pitampura, |
|
Date of Birth/Age : |
15.06.1942 |
|
Date of Appointment : |
25.09.2009 |
|
DIN : |
01541205 |
KEY EXECUTIVES
|
Name : |
Ms. Heena |
|
Designation : |
Accounts Executive |
|
|
|
|
Name : |
Mr. Dhanraj |
|
Designation : |
Accountant |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
No. of Shares |
|
Gopal Swarup Gupta |
2010000 |
|
Gopal Swarup Gupta (HUF) |
600000 |
|
Gaurav Gupta |
736000 |
|
Pooja Gupta |
999379 |
|
Surendra Pal Gupta |
1705000 |
|
Surendra Pal Gupta (HUF) |
1919000 |
|
Sita Gupta |
1260000 |
|
Sangita Gupta |
500000 |
|
Vinod Gupta |
1916000 |
|
Vinod Gupta (HUF) |
100000 |
|
Varun Gupta |
1060766 |
|
Diwakar Commecials Private Limited |
200000 |
|
Allied Holdings Private Limited |
436750 |
|
Kunal Jain |
94426 |
|
Total |
13537321 |
As on 30.09.2014
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 |
0.7 |
|
Bodies corporate |
4.71 |
|
Directors or relatives of Directors |
94.59 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Alloy Steel, Stainless Steel,
Mild Steel etc. |
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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 : |
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 : |
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Auditors : |
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|
Name : |
H. V. Vasa and Company Chartered Accountants |
|
Address : |
B-2, Usha Kiran, Opposite Khanpur Gate, Khanpur, Ahmedabad – 380 001, |
|
Tel. No.: |
91-79-25502985 |
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Fax No.: |
91-79-25503700 |
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E-Mail : |
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PAN No.: |
AAGPV2872F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates : |
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|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives |
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CAPITAL STRUCTURE
As on 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13537321 |
Equity Shares |
Rs.10/- each |
Rs.135.373 Millions |
|
|
|
|
|
As on 31.03.2013
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13442895 |
Equity Shares |
Rs.10/- each |
Rs.134.429 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 |
134.429 |
130.061 |
128.042 |
|
(b) Reserves & Surplus |
565.751 |
398.051 |
278.925 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
17.650 |
|
Total
Shareholders’ Funds (1) + (2) |
700.180 |
528.112 |
424.617 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
185.201 |
172.182 |
152.825 |
|
(b) Deferred tax liabilities (Net) |
81.074 |
68.615 |
59.271 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
1.712 |
1.273 |
0.589 |
|
Total Non-current
Liabilities (3) |
267.987 |
242.070 |
212.685 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1057.403 |
731.294 |
708.319 |
|
(b) Trade
payables |
146.624 |
167.648 |
146.201 |
|
(c) Other
current liabilities |
121.377 |
97.926 |
115.635 |
|
(d) Short-term
provisions |
57.355 |
70.610 |
38.826 |
|
Total Current
Liabilities (4) |
1382.759 |
1067.478 |
1008.981 |
|
|
|
|
|
|
TOTAL |
2350.926 |
1837.660 |
1646.283 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
485.068 |
423.040 |
336.568 |
|
(ii)
Intangible Assets |
0.053 |
0.019 |
0.030 |
|
(iii)
Capital work-in-progress |
3.562 |
75.443 |
109.251 |
|
(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 |
36.068 |
3.525 |
2.696 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
524.751 |
502.027 |
448.545 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
796.561 |
623.675 |
483.828 |
|
(c) Trade
receivables |
616.561 |
451.698 |
483.278 |
|
(d) Cash
and cash equivalents |
79.275 |
7.142 |
9.878 |
|
(e)
Short-term loans and advances |
332.057 |
252.460 |
219.288 |
|
(f) Other
current assets |
1.721 |
0.658 |
1.466 |
|
Total
Current Assets |
1826.175 |
1335.633 |
1197.738 |
|
|
|
|
|
|
TOTAL |
2350.926 |
1837.660 |
1646.283 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
3599.896 |
3716.460 |
2547.293 |
|
|
Other Income |
42.592 |
48.503 |
16.147 |
|
|
TOTAL |
3642.488 |
3764.963 |
2563.440 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
2662.847 |
2834.207 |
1851.282 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(58.018) |
(112.859) |
(66.547) |
|
|
Employees benefits expense |
22.715 |
17.456 |
11.196 |
|
|
Other expenses |
705.801 |
736.375 |
579.052 |
|
|
TOTAL |
3333.345 |
3475.179 |
2374.983 |
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
309.143 |
289.784 |
188.457 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
128.836 |
122.442 |
67.611 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
180.307 |
167.342 |
120.846 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
42.524 |
36.483 |
28.187 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
137.783 |
130.859 |
92.659 |
|
|
|
|
|
|
|
Less |
TAX |
45.458 |
42.544 |
36.136 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
92.325 |
88.315 |
56.523 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
314.370 |
226.055 |
169.532 |
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
406.695 |
314.370 |
226.055 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.10 |
6.90 |
4.40 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Net Profit Margin PAT / Sales |
(%) |
2.56
|
2.37 |
2.21 |
|
|
|
|
|
|
|
Operating Profit Margin (PBDIT/Sales) |
(%) |
8.58
|
7.79 |
7.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.87 |
7.43 |
6.03 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20 |
0.25 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.77 |
1.71 |
2.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.32 |
1.25 |
1.19 |
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 |
128.042 |
130.061 |
134.429 |
|
Reserves & Surplus |
278.925 |
398.051 |
565.751 |
|
Share Application Money
pending allotment |
17.650 |
0.000 |
0.000 |
|
Net worth |
145.692 |
130.061 |
134.429 |
|
|
|
|
|
|
long-term borrowings |
152.825 |
172.182 |
185.201 |
|
Short term borrowings |
708.319 |
731.294 |
1057.403 |
|
Total borrowings |
861.144 |
903.476 |
1242.604 |
|
Debt/Equity ratio |
5.911 |
6.947 |
9.244 |
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 |
2547.293 |
3716.460 |
3599.896 |
|
|
|
45.898 |
(3.136) |
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 |
2547.293 |
3716.460 |
3599.896 |
|
Profit |
56.523 |
88.315 |
92.325 |
|
|
2.22% |
2.38% |
2.56% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
(Rs.
In Million)
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
39.808 |
35.602 |
48.344 |
|
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 |
Yes |
|
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 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10407266 |
15/03/2013 * |
100,000,000.00 |
PUNJAB NATIONAL BANK |
VANIJAYA BHAVAN, AHMEDABAD, Gujarat - 380022, INDIA |
B71538953 |
|
2 |
10165317 |
13/06/2009 |
1,575,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE
SENAPATI BAPAT MARG, LOWER PAREL |
A65289795 |
|
3 |
80012130 |
25/06/2014 * |
1,814,500,000.00 |
PNB INVESTMENT SERVICES LIMITED |
Punjab National Bank, Circle office, 6th Floor, Gujarat Bhavan, opp. M. J. Library, Ellis bridge, Ahmedabad, Gujarat - 380006, INDIA |
C09561143 |
|
4 |
80012131 |
25/06/2014 * |
1,814,500,000.00 |
PNB INVESTMENT SERVICES LIMITED |
Punjab National Bank, Circle office, 6th Floor, Gujarat Bhavan, opp. M. J. Library, Ellis bridge, Ahmedabad, Gujarat - 380006, INDIA |
C09672213 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
In Millions) |
|
Long-term
borrowings |
|
|
|
Intercorporate borrowings |
77.346 |
56.695 |
|
Loans and advances from directors |
28.813 |
29.776 |
|
Short-term
borrowings |
|
|
|
Loans and advances from related parties |
0.000 |
8.106 |
|
Total |
106.159 |
94.577 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Computer
·
Office Equipments
·
Vehicles
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 records exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper payments
to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record exists
to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws, regulations
or policies that prohibit, restrict or otherwise affect the terms and
conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.74 |
|
|
1 |
Rs.98.87 |
|
Euro |
1 |
Rs.77.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
PNM |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.