|
Report Date : |
07.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
FINOLEX PLASSON INDUSTRIES PRIVATE LIMITED [w.e.f.16.06.2011] |
|
|
|
|
Formerly Known
As : |
FINOLEX PLASSON INDUSTRIES LIMITED [w.e.f.24.12.2008] PLASTRO PLASSON INDUSTRIES (INDIA) LIMITED PLASTRO IRRIGATION SYSTEMS (NDIA) LIMITED |
|
|
|
|
Registered
Office : |
Block D1, Plot No. 10, MIDC, Chinchwad, Pune – 410506, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.07.1992 |
|
|
|
|
Com. Reg. No.: |
11-067896 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 100.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U41000MH1992PTC067896 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEF00451D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCP1939K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Equipment used for Drip Irrigation. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Company has performed well. Trade relations are reported as fair. Business is active. Payments 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.
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring
has risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non-compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that accounts
for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per cent is
the main reason for this overall IT cut. A Reserve Bank of India committee has
recommended setting up a special category of lenders who would cater to small
businesses and households, to expand the number of customers with access to
banking services. These banks would focus on providing payment services and
deposit products. Indian banks want the free use of automated teller
machines to be capped at five transactions in a month including that of the
bank in which the account is active. This follows state government order to
banks to install security guards at ATM booths after a woman banker was
assaulted in Bangalore. The government is likely to present a vote on Account in
mid-February. The annual Economic Survey will be tabled later in Parliament
along with the full Budget. A full Budget for 2014/15 is likely to be present
in July by the new government formed after the General Election. The government
will soon launch an internet spy system, called Netra, to detect malafide
messages. Security agency will deploy the system to capture dubious voice
traffic on applications such as Skype and Google Talk, as well as tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : BBB+ |
|
Rating Explanation |
Have moderate degree of safety and carry
moderate credit risk. |
|
Date |
September 12, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2 |
|
Rating Explanation |
Have strong degree of safety and carry low
credit risk. |
|
Date |
September 12, 2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED BY
|
Name : |
Ms. Sangeeta |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-2114-237045 |
|
Date : |
06.02.2014 |
LOCATIONS
|
Registered Office : |
Block D1, Plot No. 10, MIDC, Chinchwad, Pune – 410506, |
|
Tel. No.: |
91-20-27408300 |
|
Fax No.: |
91-20-22933121 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
4th Floor, P – 14, |
|
Tel. No.: |
91-20-27518300 |
|
Fax No.: |
91-20-22932294 |
|
|
|
|
Factory : |
Plot No.399, Urse, Taluka Maval, District Pune – 410506, |
|
Tel. No.: |
91-2114-237045/ 6/ 7/ 8 |
|
Fax No.: |
91-2114-237044 |
|
Email : |
|
|
|
|
|
Branch Offices : |
Located at : ·
Baroda Coimbatore Secunderabad |
DIRECTORS
AS ON 27.09.2013
|
Name : |
Mr. Vijay Kishan Chhabria |
|
Designation : |
Managing director |
|
Address : |
472A, Model Colony, Harekrishna Mandir Road, Pune – 411016,
Maharashtra, India |
|
Date of Birth/Age : |
23.02.1961 |
|
Date of Appointment : |
13.03.2010 |
|
PAN No.: |
AAMPC9925C |
|
DIN No.: |
01403853 |
|
|
|
|
Name : |
Mr. Kishan Parsram Chhabria |
|
Designation : |
Director |
|
Address : |
472A, Model Colony, Harekrishna Mandir Road, Pune – 411016,
Maharashtra, India |
|
Date of Birth/Age : |
20.12.1933 |
|
Date of Appointment : |
30.09.2010 |
|
PAN No.: |
AAMPC9921G |
|
DIN No.: |
00016995 |
|
|
|
|
Name : |
Mr. Mahesh Sivamoni Moorthy |
|
Designation : |
Director |
|
Address : |
B302, Pinnacle The Woods, Wakad, Kalewadi, Pune -411027, Maharashtra,
India |
|
Date of Birth/Age : |
31.12.1966 |
|
Date of Appointment : |
01.01.2014 |
|
DIN No.: |
06784399 |
|
|
|
|
Name : |
Mr. Sanjay Khatau Asher |
|
Designation : |
Director |
|
Address : |
32, Modi Street, Fort, Mumbai – 400001, Maharashtra, India |
|
Date of Birth/Age : |
26.11.1964 |
|
Date of Appointment : |
20.09.2003 |
|
DIN No.: |
00008221 |
|
|
|
|
Name : |
Mr. Prabhakar Dattatraya Karandikar |
|
Designation : |
Director |
|
Address : |
Flat No. G-15, Athashri IV, S 135/1+3A/1A, Mundhava Road, Hadapsar,
Pune – 411028, Maharashtra, India |
|
Date of Birth/Age : |
30.12.1949 |
|
Date of Appointment : |
16.07.2009 |
|
DIN No.: |
02142050 |
|
|
|
|
Name : |
Tova Posner Henkin |
|
Designation : |
Director |
|
Address : |
Maagan Michael, D.N. Menashe, Israel – 37805 |
|
Date of Birth/Age : |
19.02.1946 |
|
Date of Appointment : |
16.09.1998 |
|
DIN No.: |
00111916 |
|
|
|
|
Name : |
Tsvi Tsur |
|
Designation : |
Director |
|
Address : |
Kibbutz Gvat, Israel – 30050 |
|
Date of Birth/Age : |
01.08.1951 |
|
Date of Appointment : |
23.02.1993 |
|
DIN No.: |
01977652 |
|
|
|
|
Name : |
Mr. Mukesh Dolumal Katara |
|
Designation : |
Director |
|
Address : |
Apurva Complex, Pune University Road, Near Sindh Housing Society,
Aundh, Pune – 411007, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1957 |
|
Date of Appointment : |
27.07.1992 |
|
DIN No.: |
00286037 |
|
|
|
|
Name : |
Gal Wexsler |
|
Designation : |
Director |
|
Address : |
Maagan Michael, D.N. Menashe, Israel – 37805 |
|
Date of Birth/Age : |
08.09.1963 |
|
Date of Appointment : |
03.12.2008 |
|
DIN No.: |
03364449 |
KEY EXECUTIVES
|
Name : |
Mr. Satish Janardan Ketkar |
|
Designation : |
Secretary |
|
Address : |
Flat No. 10, Aditya Garden City, ‘Emerald’ Building, (3), Warje, Pune
– 411058, Maharashtra, India |
|
Date of Birth/Age : |
23.06.1957 |
|
Date of Appointment : |
19.11.2011 |
|
PAN No.: |
ABTPK0228N |
|
|
|
|
Name : |
Ms. Sangeeta |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
P P Chhabria |
|
20 |
|
M. D. Katara |
|
20 |
|
K. P. Chhabria |
|
20 |
|
V.K. Chhabria |
|
20 |
|
S.S. Sanzgiri |
|
20020 |
|
Orbit Electricals Private Limited, India |
|
979900 |
|
Finolex Industries Limited, |
|
4635000 |
|
Finolex Cables Limited, |
|
1000000 |
|
Plaschin Limited, |
|
3365000 |
|
|
|
|
|
Total |
|
10000000 |
AS ON 27.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
33.65 |
|
Bodies
corporate |
66.15 |
|
Other
top fifty shareholders |
0.20 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Equipment used for Drip Irrigation. |
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|
||||
|
Products/ Services : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
· Bank of Baroda Pimpri Branch, Pimpri, Pune - 411018, Maharashtra, India · Saraswat Co-Operative Bank Limited Pimpri Branch, Pune - 411018, Maharashtra, India · The Hongkong and Shanghai Banking Corporation Limited Amar Avinash Corporate City, Sector No. 11, Bund Garden
Road, Pune - 411001, Maharashtra, India |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deloitte Haskins and Sell Chartered Accountants |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower,
International Convention Centre, Senapati Bapat Road, Pune 411016,
Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFD4815A |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Finolex Industries Limited Finolex Cables Limited Finprop Advisory Services Limited [U70101MH1995PTC092879] Plaschin Limited Plasson Limited Motay Limited Kaya Software Private Limited Institute of Information Technology |
|
|
|
|
Joint venture : |
Rajasthan Olive Cultivation Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,750,000 |
Equity Shares |
Rs. 10/- each |
Rs. 127.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000
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 |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
628.345 |
496.652 |
372.640 |
|
(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) |
728.345 |
596.652 |
472.640 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
46.986 |
50.157 |
52.625 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
1.416 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
21.494 |
15.616 |
18.549 |
|
Total Non-current
Liabilities (3) |
68.480 |
67.189 |
71.174 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
28.833 |
43.307 |
135.132 |
|
(b)
Trade payables |
358.287 |
330.937 |
275.516 |
|
(c) Other
current liabilities |
308.891 |
240.792 |
230.875 |
|
(d) Short-term
provisions |
35.709 |
36.041 |
41.673 |
|
Total Current
Liabilities (4) |
731.720 |
651.077 |
683.196 |
|
|
|
|
|
|
TOTAL |
1528.545 |
1314.918 |
1227.010 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
355.447 |
253.423 |
171.712 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
3.783 |
43.719 |
54.931 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
7.525 |
7.525 |
7.525 |
|
(c) Deferred tax assets (net) |
2.588 |
0.000 |
4.252 |
|
(d) Long-term Loan and Advances |
37.241 |
34.067 |
11.772 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
10.990 |
|
Total Non-Current
Assets |
406.584 |
338.734 |
261.182 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.365 |
0.330 |
0.000 |
|
(b)
Inventories |
322.954 |
247.450 |
167.308 |
|
(c)
Trade receivables |
756.881 |
694.100 |
678.047 |
|
(d) Cash
and cash equivalents |
18.973 |
10.683 |
92.867 |
|
(e)
Short-term loans and advances |
17.902 |
16.070 |
27.606 |
|
(f) Other
current assets |
4.886 |
7.551 |
0.000 |
|
Total
Current Assets |
1121.961 |
976.184 |
965.828 |
|
|
|
|
|
|
TOTAL |
1528.545 |
1314.918 |
1227.010 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2364.380 |
1775.020 |
1693.080 |
|
|
|
Other Income |
1.900 |
2.620 |
2.650 |
|
|
|
TOTAL (A) |
2366.280 |
1777.640 |
1695.730 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2043.630 |
1486.510 |
1420.860 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
322.650 |
291.130 |
274.870 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
49.860 |
35.640 |
27.520 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
272.790 |
255.490 |
247.350 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
41.620 |
34.570 |
17.710 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
231.170 |
220.920 |
229.640 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
76.200 |
73.660 |
73.190 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
154.970 |
147.260 |
156.450 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
17.500 |
17.500 |
17.500 |
|
|
|
Proposed Dividend |
20.000 |
20.000 |
25.000 |
|
|
|
Tax on Dividend |
3.400 |
3.240 |
4.050 |
|
|
BALANCE CARRIED
TO THE B/S |
114.070 |
106.520 |
109.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
3.377 |
2.350 |
1.615 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.50 |
14.73 |
15.64 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.55
|
8.28 |
9.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.78
|
12.45 |
13.56 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.26
|
17.48 |
19.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.37 |
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.10
|
0.16 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.53
|
1.50 |
1.41 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current maturities of long-term debt |
25.111 |
16.111 |
22.762 |
|
|
|
|
|
|
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 |
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10261877 |
29/11/2010 |
150,000,000.00 |
HDFC BANK
LIMITED |
HDFC BANK HOUSE,
SENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI - 400013, MAHARASHTRA, INDIA |
B03900537 |
|
2 |
10010943 |
08/07/2006 |
15,000,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
A02582054 |
|
3 |
90087314 |
27/07/2009 * |
815,200,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
A69531887 |
|
4 |
90086865 |
30/06/2004 |
20,000,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
5 |
90085828 |
11/07/2001 |
28,300,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
6 |
90085258 |
14/01/2000 |
1,500,000.00 |
CENTRAL BANK OF
INDIA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
7 |
90082461 |
21/12/2011 * |
1,002,800,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
B29927183 |
|
8 |
90090065 |
22/12/1994 |
8,500,000.00 |
CENTRAL BANK OF
INDIA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
9 |
90084193 |
09/11/1994 * |
13,300,000.00 |
BANK OF BARODA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
10 |
90084177 |
07/10/1994 |
8,200,000.00 |
CENTRAL BANK OF
INDIA |
PIMPRI CHINCHWAD
BRANCH, PIMPRI CHINCHWAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
11 |
90084130 |
15/06/1994 |
1,500,000.00 |
BANK OF BARODA |
OLYMPIC HOUSE,
BOMBAY PUNE ROAD; PIMPRI-CHINCHWAD, PUNE - 411018, MAHARASHTRA INDIA |
- |
|
12 |
90084102 |
30/03/1994 |
3,000,000.00 |
BANK OF BARODA |
OLYMPIC HOUSE, BOMBAY
PUNE ROAD; PIMPRI-CHINCHWAD, PUNE - 411018, MAHARASHTRA INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Other external commercial borrowings |
3.042 |
5.851 |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand |
28.133 |
31.294 |
|
|
|
|
|
Total |
31.175 |
37.145 |
CURRENT YEAR’S
PROSPECTS:
The company expects to benefit from it’s efforts in promoting PCND and sub-surface, as they are gaining recognition and hold promise in the days to come. It has been evident from the sales so far, however, the monsoon predictions are still changing.
The micro irrigation industry as a whole continues to be
affected by the delays in the receipt of Government subsidies and increase in
input costs. Currently, efforts are being made on the Industry level, to get an
increase in the component prices. If successful, it may give some relief to
sustain better margins.
FIXED ASSETS:
· Land
Buildings
Factory
building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Computer
equipments
Other
equipments
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. 62.50 |
|
|
1 |
Rs. 101.92 |
|
Euro |
1 |
Rs. 84.50 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.