MIRA INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TEXPORT INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
TEXPORT GARMENTS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No.88, Road No.15, MIDC, Andheri (East), Mumbai - 400 093,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.12.1979 |
|
|
|
|
Com. Reg. No.: |
11-021996 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.276 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101MH1979PTC021996 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22206C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT5016A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject manufactures and exports readymade garments such as shirts, t-shirts, skirts, dresses, jackets, and blazers for men, women and children. |
|
|
|
|
No. of Employees
: |
Information Decline by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4600000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The rating reflects sound financial risk profile supported by adequate
liquidity position and fair profitability of the company. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs 39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs 35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term loan: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
November 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non fun based limits: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
November 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
Management non-cooperative (Tel. No.: 91-22-28395960)
LOCATIONS
|
Registered Office/ Corporate Office/ Factory 1 : |
Plot No.88, Road No.15, M.I.D.C., Andheri (East), Mumbai - 400 093,
Maharashtra, India |
|
Tel. No.: |
91-22-30882000 |
|
Fax No.: |
91-22-30882005 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
2000 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
56-63, Karibanhalli - 560058, Bangalore, India |
|
|
|
|
Branch Office 1 : |
154, 3rd Cross, 5th Main, Yeshwanthpur Industrial Sub., |
|
Tel. No.: |
91-80-39284500 |
|
Fax No.: |
91-80-39284095 |
|
|
|
|
Branch Office 2 : |
11, Sowdambika Nagar, Poolvapatti Post, P N Road, Tirupur – 641 602,
Tamilnadu, India |
|
Tel. No.: |
91-421-2481640 |
|
Fax No.: |
91-421-2471436 |
|
|
|
|
Branch Office 3 : |
31, Karangalpatti, Street No. 4, Gugai, Salem – 636 006, Tamilnadu,
India |
|
Tel. No.: |
91-427-2464548 |
|
Fax No.: |
91-427-2467053 |
|
|
|
|
Overseas Office : |
14th Floor, 264 West, |
|
Tel. No.: |
+1 212 869 8001 |
|
Fax No.: |
+1 212 869 5965 |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Narendra Kumar Deviprasad Goenka |
|
Designation : |
Director |
|
Address : |
Shivkunj, Road No.11, J.V.P.D. Scheme, Juhu, Vile Parle (West), Mumbai
– 400 049, Maharashtra, India |
|
Date of Birth/Age : |
30.06.1957 |
|
Date of Appointment : |
25.07.1981 |
|
DIN No.: |
01234889 |
|
|
|
|
Name : |
Mr. Suresh Deviprasad Goenka |
|
Designation : |
Director |
|
Address : |
Shivkunj, 11th Road, J.V.P.D. Scheme, Juhu, Vile Parle
(West), Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
06.06.1953 |
|
Date of Appointment : |
02.04.1990 |
|
DIN No.: |
01181788 |
|
|
|
|
Name : |
Mr. Arun Kumar Sajjankumar Goenka |
|
Designation : |
Director |
|
Address : |
4th Shivkunj, 11th Road, J.V.P.D. Scheme, Juhu,
Vile Parle (West), Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
17.08.1967 |
|
Date of Appointment : |
06.03.1996 |
|
DIN No.: |
01230401 |
|
|
|
|
Name : |
Mr. Sekhar Sashi Edayath |
|
Designation : |
Director |
|
Address : |
201, Jyoti Sparkle, Plot No.81, Shere-Punjab Society, Mahakali Caves
Road, Andheri (East), Mumbai – 400 093, Maharashtra, India |
|
Date of Birth/Age : |
25.05.1955 |
|
Date of Appointment : |
18.01.1998 |
|
DIN No.: |
01760123 |
|
|
|
|
Name : |
Mr. Shailesh Sureshkumar Goenka |
|
Designation : |
Director |
|
Address : |
Shivkunj, Road No.11, J.V.P.D. Scheme, Juhu, Vile Parle (West), Mumbai
– 400 049, Maharashtra, India |
|
Date of Birth/Age : |
05.06.1979 |
|
Date of Appointment : |
18.02.2003 |
|
DIN No.: |
01230273 |
|
|
|
|
Name : |
Mr. Sajjankumar Debiprasad Goenka |
|
Designation : |
Director |
|
Address : |
4th Shivkunj, North-South Road No.11, J.V.P.D. Scheme,
Juhu, Vile Parle (West), Mumbai – 400 049, Maharashtra, India |
|
Date of Appointment : |
14.10.2005 |
|
DIN No.: |
01230354 |
|
|
|
|
Name : |
Mr. Neeraj Sajjan Goenka |
|
Designation : |
Director |
|
Address : |
4th Shivkunj, 11th Road, J.V.P.D. Scheme, Juhu,
Vile Parle (West), Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
24.06.1972 |
|
Date of Appointment : |
30.09.2010 |
|
DIN No.: |
00745541 |
KEY EXECUTIVES
|
Name : |
Mr. Doshi |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Goenka Deviprasad Narendra |
|
2632 |
|
Goenka Sajjan Chandra Kala |
|
2662 |
|
Goenka Narendra Sarita Devi |
|
2986 |
|
Goenka Suresh Sashi Devi |
|
3014 |
|
Goenka Chandi Prasad Radhadevi |
|
850 |
|
Goenka Deviprasad Suresh |
|
2700 |
|
Sajjan Kumar Goenka – HUF |
|
300 |
|
Goenka Sajjan Arun |
|
2885 |
|
Goenka Narendra Sakshi |
|
271 |
|
Goenka Suresh Shailesh |
|
2821 |
|
Goenka Suresh Neeti |
|
326 |
|
Goenka Arun Vinita |
|
2986 |
|
Goenka Narendra Nupur |
|
71 |
|
Goenka Chandi Prasad Sajjan |
|
152 |
|
Goenka Sajjan Neeraj |
|
2000 |
|
Suresh Goenka (HUF) |
|
1 |
|
Goenka Shailesh Nishita |
|
3000 |
|
Goenka Neeraj Sushma |
|
3100 |
|
Total
|
|
32757 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject manufactures and exports readymade garments such as shirts, t-shirts,
skirts, dresses, jackets, and blazers for men, women and children. |
PRODUCTION STATUS (AS ON 31.03.2011)
Licensed Capacity: Not Applicable
Installed Capacity:
In view of the
productions of varied types of garments, as per the specification of individual
orders, it is not possible to quantify the installed capacity. Moreover, the
company also gets its garments manufactured by outside parties on job work
basis.
|
Particulars |
Unit |
Actual
Production |
|
Garments |
Nos. |
10924394 |
GENERAL INFORMATION
|
No. of Employees : |
Information Decline by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
B. Choraria and Mates Chartered Accountants |
|
Address : |
594, 16th Cross, 35th Main, J.P. Nagar, 6th
Phase, Bangalore – 560 078, Karnataka, India |
|
Tel. No.: |
91-80-22440331/ 22459853 |
|
Fax No.: |
91-80-26911458 |
|
E-Mail : |
|
|
PAN No.: |
AAJPC4940N |
|
|
|
|
Wholly Owned Enterprises: |
(CIN No.: U18101MH1995PTC091687)
(CIN No.: U52322MH1987PTC044533)
(CIN No.: U34300KA1995PTC018106)
|
|
|
|
|
Enterprises over which key management personnel and their relatives exercise
significant influence with whom transactions have taken place during the
year: |
Private Limited
Companies ·
Texport Garments Private Limited ·
JBC International Private Limited ·
Texport Technologies Private Limited ·
DG Goenka Equities Private Limited Partnership
Firms ·
Frisco International ·
Texport Garments Trusts ·
Shivdevi Goenka Foundation ·
Goenka Charitable Trust ·
Shree Goenka Kalyan Trust |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 millions |
|
50000 |
Preference Shares |
Rs.100/- each |
Rs. 5.000 millions |
|
|
Total |
|
Rs.15.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
32757 |
Equity Shares |
Rs.100/-
each |
Rs.3.276
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
3.276 |
3.276 |
|
(b) Reserves & Surplus |
|
1169.598 |
1065.120 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total Shareholders’ Funds (1) + (2) |
|
1172.874 |
1068.396 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
|
212.562 |
237.917 |
|
(b) Deferred tax
liabilities (Net) |
|
21.872 |
23.780 |
|
(c)
Other long term liabilities |
|
9.451 |
10.100 |
|
(d)
long-term provisions |
|
29.346 |
26.129 |
|
Total
Non-current Liabilities (3) |
|
273.231 |
297.926 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
1285.972 |
1004.007 |
|
(b)
Trade payables |
|
187.394 |
193.948 |
|
(c)
Other current liabilities |
|
221.956 |
189.793 |
|
(d)
Short-term provisions |
|
178.373 |
124.482 |
|
Total
Current Liabilities (4) |
|
1873.695 |
1512.230 |
|
|
|
|
|
|
TOTAL |
|
3319.800 |
2878.552 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
625.199 |
635.796 |
|
(ii)
Intangible Assets |
|
5.081 |
1.217 |
|
(iii)
Capital work-in-progress |
|
25.206 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b)
Non-current Investments |
|
14.841 |
14.841 |
|
(c)
Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
112.321 |
138.983 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
782.648 |
790.837 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
314.042 |
399.896 |
|
(b)
Inventories |
|
544.154 |
515.889 |
|
(c)
Trade receivables |
|
1055.338 |
802.294 |
|
(d)
Cash and cash equivalents |
|
83.290 |
71.507 |
|
(e)
Short-term loans and advances |
|
535.618 |
293.664 |
|
(f)
Other current assets |
|
4.710 |
4.465 |
|
Total
Current Assets |
|
2537.152 |
2087.715 |
|
|
|
|
|
|
TOTAL |
|
3319.800 |
2878.552 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
5.836 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
627.455 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
633.291 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
1275.816 |
|
|
2] Unsecured Loans |
|
|
47.543 |
|
|
TOTAL BORROWING |
|
|
1323.359 |
|
|
DEFERRED TAX LIABILITIES |
|
|
37.725 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1994.375 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
670.866 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
17.774 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
560.888 |
|
|
Sundry Debtors |
|
|
821.067 |
|
|
Cash & Bank Balances |
|
|
73.774 |
|
|
Other Current Assets |
|
|
121.235 |
|
|
Loans & Advances |
|
|
190.383 |
|
Total
Current Assets |
|
|
1767.347 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
216.799 |
|
|
Other Current Liabilities |
|
|
173.296 |
|
|
Provisions |
|
|
71.517 |
|
Total
Current Liabilities |
|
|
461.612 |
|
|
Net Current Assets |
|
|
1305.735 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1994.375 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
4132.479 |
3987.867 |
3578.114 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
3979.251 |
3833.586 |
3454.730 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
153.228 |
154.281 |
123.384 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
52.160 |
41.935 |
29.409 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
101.068 |
112.346 |
93.975 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB value of exports |
3748.500 |
3666.428 |
3144.061 |
|
|
|
Others |
0.00 |
0.000 |
0.680 |
|
|
TOTAL EARNINGS |
3748.500 |
3666.428 |
3144.741 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
401.657 |
|
|
|
Stores & Spares |
NA |
NA |
150.158 |
|
|
|
Capital Goods |
NA |
NA |
3.765 |
|
|
|
Others |
NA |
NA |
0.000 |
|
|
TOTAL IMPORTS |
NA |
NA |
555.580 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
3085.39 |
3429.68 |
1610.35 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.45 |
2.81 |
2.62 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.67 |
5.39 |
5.06 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.15 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.28 |
1.16 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.39 |
3.82 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
3.276 |
3.276 |
|
Reserves & Surplus |
1,065.120 |
1,169.598 |
|
Net
worth |
1,068.396 |
1,172.874 |
|
|
|
|
|
long-term borrowings |
237.917 |
212.562 |
|
Short term borrowings |
1,004.007 |
1,285.972 |
|
Total
borrowings |
1,241.924 |
1,498.534 |
|
Debt/Equity
ratio |
1.162 |
1.278 |
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 |
3,578.114 |
3,987.867 |
4,132.479 |
|
|
|
11.452 |
3.626 |
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 |
3,578.114 |
3,987.867 |
4,132.479 |
|
Profit |
93.975 |
112.346 |
101.068 |
|
|
2.63% |
2.82% |
2.45% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT DETAILS
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
33.011 |
30.739 |
49.181 |
|
|
|
|
|
|
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 |
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 |
No |
|
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 |
|
|
|
Loans and advance from related parties |
48.543 |
90.886 |
|
|
|
|
|
Short term
borrowings |
|
|
|
Loans and advance from related parties |
48.543 |
90.886 |
|
|
|
|
|
Total |
97.086 |
181.772 |
Note:
The registered office of the company has been shifted from Laxmi Woollen Mills, Dr. E. Moses Road, Mahalaxmi, Mumbai - 400 011,
Maharashtra to the present address w.e.f. 01.01.2008.
OPERATIONS:
During the year, the Company has earned a profit after tax of Rs. 101.068 millions compared to the profit of Rs. 112.346 millions earned during the previous year. The company has earned Rs. 4091.598 millions as operation revenue out of which Rs. 3741.013 millions was from export sales and Rs. 72530417/- was from domestic sales. Other Income was amounted to Rs. 40.880 millions. The total expenditure during the year was amounted to Rs. 3979.250 millions.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10308421 |
20/11/2012 * |
100,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
21 FLOOR, CENTRE ONE BUILDING, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA – 400005, INDIA |
B66001827 |
|
2 |
10117693 |
18/08/2008 |
112,500,000.00 |
EXPORT-IMPORT BANK OF INDIA |
21 FLOOR, CENTRE ONE BUILDING, WORLD TRADE CENTRE COMPLEX,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400 |
A43618404 |
|
3 |
10053028 |
22/05/2007 |
10,000,000.00 |
CANARA BANK |
FORT MARKET BRANCH, PADHYAN HOUSE, 309 FRERE ROAD, FORT MARKET., MUMBAI, MAHARASHTRA - 400038, INDIA |
A15600778 |
|
4 |
10051932 |
30/04/2007 |
23,000,000.00 |
CANARA BANK |
FORT MARKET BRANCH, PADHYAN HOUSE, 309 FRERE ROAD, FORT MARKET., MUMBAI, MAHARASHTRA - 400038, INDIA |
A15278757 |
|
5 |
10052887 |
30/04/2007 |
185,500,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANCE BRANCH, INDIAN EXPRESS BLDG., |
A15795735 |
* Date of charge modification
FIXED ASSETS:
·
Land and Building
·
Building
·
Plant and Machinery
·
Motor Car
·
Furniture and Fixture
·
Office Equipment
·
Electrical Installation
·
Generator
·
Software
·
Laundry
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. 62.28 |
|
|
1 |
Rs. 103.85 |
|
Euro |
1 |
Rs. 85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
DPH |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
45 |
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.