|
Report Date : |
10.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
VIRAJ PROFILES LIMITED (w.e.f. 19.03.1998) |
|
|
|
|
Formerly Known
As : |
VIRAJ GASES LIMITED |
|
|
|
|
Registered Office
: |
G-34, MIDC Tarapur Industrial Area, Boisar, Taluka-Palghar, Tarapur,
District Thane – 401 506, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.02.1996 |
|
|
|
|
Com. Reg. No.: |
11-096835 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1341.561 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28113MH1996PLC096835 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMV07253B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCV1740N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of stainless steel products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 41000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses a decent financial profile marked by healthy
networth position during 2013. The ratings also take into consideration the elongated operating
cycle, exposure to volatility in raw material prices and foreign exchange
rates with substantial support to group companies. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of well established and experienced promoters, 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
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 onproviding 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 |
CARE |
|
Rating |
Long term bank facilities: “BBB” |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
13.01.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
13.01.2014 |
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
31-03-2012.
LOCATIONS
|
Registered Office/ Marketing Office/ Factory 1: |
G-34, MIDC Tarapur Industrial Area, Boisar, Taluka-Palghar, Tarapur,
District Thane – 401 506, Maharashtra, India |
|
Tel. No.: |
91-2525-904999 / 1021 / 28 |
|
Fax No.: |
91-2525-260159 / 274420 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
10, Imperial Chambers, 1st Floor, Wilson Road, Ballard Estate, Mumbai –
400 038, Maharashtra, India |
|
Tel. No.: |
91-22-22613056/ 22614284 / 22614327 |
|
Fax No.: |
91-22-22659713 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Fasteners
Division G-1/3, MIDC Tarapur Industrial Area, Boisar, District Thane – 401 506,
Maharashtra, India |
|
Tel No.: |
91-2525-279702-013/ 261495-96/ 260656-54 |
|
Fax No.: |
91-2525-260651 |
|
E-Mail : |
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. Neeraj Raja
Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park,
Juhu Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
16.09.1958 |
|
Qualification : |
Commerce Graduate |
|
Date of Appointment : |
01.11.2006 |
|
DIN No.: |
00115140 |
|
PAN No.: |
AMXPK6610R |
|
|
|
|
Name : |
Mrs. Renu Neeraj
Kochhar |
|
Designation : |
Managing Director |
|
Address : |
4, Vikas Park, Juhu
Tara Road, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
10.10.1958 |
|
Qualification : |
MA |
|
Date of Appointment : |
25.04.1997 |
|
DIN No.: |
00115236 |
|
PAN No.: |
AARPK1540N |
|
|
|
|
Name : |
Mr. Tharmapuram Subramaniam
Narayanasami |
|
Designation : |
Director |
|
Address : |
FLT-1B, The Lords Apartment, Sathya Dev Avenue, R.A. Puram, Chennai –
600 028, Tamilnadu, India |
|
Date of Birth/Age : |
18.05.1949 |
|
Qualification : |
B. Sc |
|
Date of Appointment : |
10.04.2012 |
|
DIN No.: |
01786981 |
|
|
|
|
Name : |
Mr. Shilan Jayantilal Thaker |
|
Designation : |
Director |
|
Address : |
601/2, Krishna Alankar Society, Tejpaj Scheme Road, No. 5, Vile Parle
(East), Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
18.07.1957 |
|
Date of Appointment : |
01.09.2012 |
|
DIN No.: |
01836220 |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Kumar Dash |
|
Designation : |
Secretary |
|
Address : |
C1-08, Cisf Colony, Panch Marg, Boisar – 401506, Thane, Maharashtra,
India |
|
Date of Birth/Age : |
03.06.1980 |
|
Date of Appointment : |
05.05.2010 |
|
PAN No.: |
AJCPD1194K |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
SHAREHOLDING DETAILS
FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
7.48 |
|
Bodies corporate |
|
80.50 |
|
Directors or relatives of directors |
|
11.82 |
|
Other top fifty shareholders |
|
0.20 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Stainless Steel Products. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011):
a) Licensed
Capacity* and Installed capacity (Per Annum in MT)
|
Particulars |
Capacity
Installed |
|
Cast Billets and Ingots |
348000 |
|
Wire Rods |
192000 |
|
Rolled Products |
150000 |
|
Angle, Flat Bars and Channels |
60000 |
|
Forgings and Flanges |
51740 |
|
Bright Bars |
108000 |
|
Wires |
45600 |
|
Fasteners |
60000 |
|
Power Generation (in KWh) |
136656000 |
*Not applicable in each case
1) As certified by the management, on which auditors have placed
reliance, being a technical matter.
2) The installed capacity figures are given for triple shift on annual
basis.
|
Particulars |
Actual
Production (MT) |
|
Cast Billets and Ingots |
272161 (271722) |
|
Wire Rods |
150487 (94703) |
|
Rolled Products |
68513 (63466) |
|
Angle, Flat Bars and Channels |
57533 (12720) |
|
Forgings and Flanges |
37187 (24752) |
|
Bright Bars |
56350 (265) |
|
Wires |
24945 (2636) |
|
Fasteners |
32834 (141) |
|
Power Generation (in KWh) |
-- (--) |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Indian Overseas Bank, Fort Branch, Tamrind House, 30 and 32 Tamrind Lane, Mumbai - 400023, Maharashtra, India · Central Bank of India, Corporate Finance Branch, Mmo Building, 1st Floor, M G Road, Fort, Mumbai - 400023, Maharashtra, India · The South Indian Bank Limited, Nariman Point Branch, Ground Floor, 207, Embassy Centre, Nariman Point, Mumbai - 400021, Maharashtra, India · Andhra Bank, Snanavati Mahalaya, 18; Homi Modi Street; Fort, Mumbai - 400023, Maharashtra, India · Axis Bank Limited, Credit Management Centre, Unit No. 6, Corporate Park, Chembur, Mumbai - 400071, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B S R and Associates Chartered Accountants |
|
Address : |
Lodha Excelus, 1st Floor, Apollo Mills Compound, N. M. Joshi Marg, Mahalakshmi, Mumbai – 400 011, Maharashtra, India |
|
Tel. No.: |
91-22-30440800 |
|
Fax No.: |
91-22-30440900 |
|
PAN No.: |
AABFD7919A |
|
|
|
|
Holding Company : |
Bhoomika Financial Services Private Limited, India CIN No.: U67100MH2007PTC175256 |
|
|
|
|
Subsidiary : |
·
Sino Investment Global Limited, Virgin Islands,
British ·
Viraj USA Inc, United States ·
Viraj Europe B.V., Netherlands |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
Bebitz Flanges Works Private Limited, India (CIN No.: U28939MH2004PTC149545) ·
Flanschenwerk Bebitz GmbH, Germany ·
Bhoomika Constructions Private Limited, India (CIN No.: U45200MH1995PTC093238) ·
Dragon Eastwest Trading Private Limited, India (CIN No.: U99999MH1997PTC111526) ·
Surekh Chitra Investments Private Limited, India (CIN No.: U67120MH1997PTC110163) |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1350000000 |
Equity Shares |
Re.1/- each |
Rs.1350.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1341560649 |
Equity Shares |
Re.1/- each |
Rs.1341.561
millions |
|
|
|
|
|
As on: 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000000 |
Equity Shares |
Re.1/- each |
Rs.150.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1341560649 |
Equity Shares |
Re.1/- each |
Rs.1341.561
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 |
1341.561 |
1341.561 |
1341.561 |
|
(b) Reserves & Surplus |
8978.089 |
8275.238 |
7558.796 |
|
(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) |
10319.650 |
9616.799 |
8900.357 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
5194.172 |
3810.489 |
4313.793 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long
term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
180.668 |
114.482 |
109.341 |
|
Total Non-current
Liabilities (3) |
5374.840 |
3924.971 |
4423.134 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
9542.589 |
8940.470 |
7547.442 |
|
(b)
Trade payables |
13284.729 |
8258.322 |
7185.777 |
|
(c)
Other current liabilities |
3067.669 |
3383.907 |
3884.339 |
|
(d) Short-term
provisions |
55.463 |
92.067 |
15.976 |
|
Total Current
Liabilities (4) |
25950.450 |
20674.766 |
18633.534 |
|
|
|
|
|
|
TOTAL |
41644.940 |
34216.536 |
31957.025 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
8920.682 |
9453.968 |
7455.262 |
|
(ii)
Intangible Assets |
19.959 |
9.013 |
15.022 |
|
(iii)
Capital work-in-progress |
4167.583 |
1341.361 |
1152.019 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1577.663 |
1498.063 |
1571.804 |
|
(c) Deferred tax assets (net) |
84.815 |
33.845 |
144.861 |
|
(d) Long-term Loan and Advances |
1856.445 |
2247.236 |
2621.136 |
|
(e) Other
Non-current assets |
62.387 |
712.833 |
919.586 |
|
Total Non-Current
Assets |
16689.534 |
15296.319 |
13879.690 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.010 |
8.877 |
9.320 |
|
(b)
Inventories |
9564.974 |
8024.068 |
10409.141 |
|
(c)
Trade receivables |
956.111 |
1921.175 |
1527.155 |
|
(d) Cash
and cash equivalents |
3580.816 |
3310.884 |
2218.111 |
|
(e)
Short-term loans and advances |
9673.439 |
5505.604 |
3837.338 |
|
(f)
Other current assets |
1180.056 |
149.609 |
76.270 |
|
Total
Current Assets |
24955.406 |
18920.217 |
18077.335 |
|
|
|
|
|
|
TOTAL |
41644.940 |
34216.536 |
31957.025 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
47247.732 |
46957.876 |
41067.579 |
|
|
|
Other Income |
477.253 |
326.318 |
223.705 |
|
|
|
TOTAL (A) |
47724.985 |
47284.194 |
41291.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
31091.018 |
30766.029 |
30232.646 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(1116.710) |
1309.198 |
(2163.660) |
|
|
|
Employee benefit expense |
1647.833 |
1368.157 |
898.899 |
|
|
|
Other expenses |
11400.105 |
9102.125 |
8111.353 |
|
|
|
TOTAL (B) |
43022.246 |
42545.509 |
37079.238 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4702.739 |
4738.685 |
4212.046 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2381.969 |
2641.670 |
1932.283 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2320.770 |
2097.015 |
2279.763 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
1257.861 |
1051.558 |
1024.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
1062.909 |
1045.457 |
1255.644 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
360.059 |
329.016 |
463.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
702.850 |
716.441 |
792.042 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEAR’S
BALANCE BROUGHT FORWARD |
7588.483 |
6872.042 |
6080.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8291.333 |
7588.483 |
6872.042 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F. O. B. Value of Exports |
39811.000 |
40882.000 |
35206.000 |
|
|
TOTAL EARNINGS |
39811.000 |
40882.000 |
35206.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
24845.550 |
26981.961 |
|
|
|
Capital Goods |
NA |
1330.096 |
242.369 |
|
|
|
Consumables |
NA |
486.035 |
392.653 |
|
|
TOTAL IMPORTS |
NA |
26661.681 |
27616.983 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.52 |
0.53 |
0.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.47 |
1.51 |
1.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.25 |
2.22 |
3.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.97 |
3.33 |
4.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.11 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.42 |
1.32 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.96 |
0.91 |
0.98 |
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 |
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particulars |
As on 31.03.2013 |
As on 31.03.2012 |
|
Long term
borrowings |
|
|
|
Non-convertible debentures others |
1250.000 |
1225.000 |
|
Borrowing from government semi-government bodies |
57.174 |
73.812 |
|
|
|
|
|
Total |
1307.174 |
1298.812 |
ANALYSIS OF
PERFORMANCE FOR 2012-13
The sales and other income of the Company have been increased to Rs. 47724.000 millions as against Rs. 47284.000 millions in the previous year.
The business environment continues to be challenging on account of high volatiles in the price of nickel, a major raw material of the Company. Sluggish demand combined with ongoing volatility in raw materials has affected the profit. However the Company has maintained stable profit of Rs. 1060.000 millions as against 1050.000 millions in previous year. The Company is all set to meet the dynamic business environment and the management is optimistic about the bright future of the Company.
Note:
The registered office of the company has been shifted from G-76, MIDC, Tarapur Industrial Area, Tarapur – 400 045, Maharashtra to the present address w.e.f. 17.02.2009.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10433397 |
22/06/2013 |
1,900,000,000.00 |
CANARA BANK |
OVERSEAS BRANCH,
DALAMAL TOWER 211, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B78112521 |
|
2 |
10425163 |
02/05/2013 |
579,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, MMO BUILDING, 1ST FLOOR, M G ROAD, FORT, MUMBAI, MAHARASHTRA
- 400023, INDIA |
B74949207 |
|
3 |
10421742 |
28/03/2013 |
1,080,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 102, NATRAJ, 194, SIR |
B73749848 |
|
4 |
10423883 |
22/03/2013 |
852,000,000.00 |
THE SOUTH INDIAN
BANK LIMITED |
NARIMAN POINT
BRANCH, GROUND FLOOR, 207, EMBASSY CENTRE, NARIMAN POINT, MUMBAI, MAHARASHTRA
- 400021, INDIA |
B74479742 |
|
5 |
10417753 |
21/03/2013 |
1,000,000,000.00 |
STATE BANK OF
TRAVANCORE |
MALANKARA
CENTRE, MG ROAD ERNAKULAM, ERNAKULAM, KERALA - 682035, INDIA |
B72608458 |
|
6 |
10417971 |
05/03/2013 |
1,830,000,000.00 |
VIJAYA BANK |
OVERSEAS BRANCH,
MAKER CHAMBER-IV, NARIMAN POINT, |
B72658545 |
|
7 |
10401151 |
05/02/2013 |
3,500,000,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND
FLOOR, BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B67297218 |
|
8 |
10399640 |
10/01/2013 |
280,000,000.00 |
BANK OF INDIA |
NARIMAN POINT
LARGE CORPORATE BRANCH, 92-93, FREE PRESS HOUSE, 215, NARIMAN POINT,
MUMBAI, MAHARASHTRA - 400021, INDIA |
B66373952 |
|
9 |
10366990 |
29/06/2012 |
1,000,000,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD FLOOR,
OPPOSITE SAMARTHESHAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B44340339 |
|
10 |
10275417 |
10/05/2012 * |
720,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B40361974 |
|
11 |
10212180 |
29/03/2010 |
1,250,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A83114710 |
|
12 |
10211658 |
04/03/2010 |
1,500,000,000.00 |
CENTRAL BANK OF
INDIA |
CORPORATE
FINANCE BRANCH, 1ST FLOOR, MMO BUILDING, |
A82932922 |
|
13 |
10061532 |
27/07/2012 * |
40,153,500,000.00 |
AXIS TRUSTEE
SERVICES LIMITED |
AXIS HOUSE, 2ND FLOOR,
BOMBAY DYEING MILLS COMPOUND, PANDURANG BUDHKAR MARG, WORLI,, MUMBAI,
MAHARASHTRA - 400025, INDIA |
B44417848 |
|
14 |
10061531 |
13/12/2010 * |
29,528,900,000.00 |
ANDHRA BANK |
NANAVATI MAHALAYA,
18, HOMI MODI STREET, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B02754448 |
|
15 |
10029142 |
06/12/2007 * |
1,510,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18 HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A28536928 |
|
16 |
10026925 |
21/11/2006 |
1,827,200,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A07071335 |
|
17 |
10026847 |
21/11/2006 |
2,000,000,000.00 |
ANDHRA BANK |
NANAVATI MAHALAYA,
18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023, INDIA |
A07070428 |
|
18 |
10026851 |
21/11/2006 |
2,211,300,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, MUMBAI, MAHARASHTRA - 400023,
INDIA |
A07072747 |
|
19 |
80013068 |
11/01/2007 * |
8,359,700,000.00 |
ANDHRA BANK |
18, HOMI MODI
STREET,NANVATI MAHALAYA, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400023,
INDIA |
- |
|
20 |
90145482 |
30/10/2004 |
440,000,000.00 |
ANDHRA BANK |
NANAVATI MAHALAYA,
18; HOMI MODI STREET; FORT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
21 |
90146782 |
12/09/2006 * |
440,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
- |
|
22 |
80011202 |
25/08/2006 * |
2,000,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18, HOMI MODI STREET, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA -
400001, INDIA |
- |
|
23 |
90160308 |
16/05/2005 * |
420,000,000.00 |
ANDHRA BANK |
SNANAVATI MAHALAYA,
18; HOMI MODI STREET; FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
24 |
90148218 |
03/03/2005 * |
70,000,000.00 |
ANDHRA BANK |
NANAVATI
MAHALAYA, 18; HOMI MODI STREET; FORT, MUMBAI, MAHARASHTRA, INDIA |
- |
|
25 |
80014390 |
17/12/2007 * |
1,351,300,000.00 |
ANDHRA BANK |
18, HOMI MODI
STREET, NANAVATI MAHALAYA, FORT BRANCH, FORT, MUMBAI, MAHARASHTRA - 400001,
INDIA |
A28825727 |
* Date of charge modification
FIXED ASSETS:
· Freehold Land
· Leasehold Land
· Factory and Building
· Plant and Machinery
· Furniture and Fixtures
· Office Equipment
· Computer
· Vehicles
· Software
· Live Stock
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. 62.31 |
|
|
1 |
Rs. 101.78 |
|
Euro |
1 |
Rs. 84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.