MIRA INFORM REPORT
|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TECHNOVA IMAGING SYSTEMS PRIVATE LIMITED (w.e.f. 12.04.1993) |
|
|
|
|
Formerly Known
As : |
TECHNOVA PLATE MAKING SYSTEMS LIMITED |
|
|
|
|
Registered
Office : |
Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai-400011,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
29.08.1979 |
|
|
|
|
Com. Reg. No.: |
11-021599 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.119.637
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1979PTC021599 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT2165J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing and Trading of Imaging Products. |
|
|
|
|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1630000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
Comments : |
Subject is an established company having moderate track record. The latest financial statement of 2013 could not be made available from
the government department. As per the available, the management has seen a drastic dip in its net
profitability during 2012. The ratings also take into consideration the huge external borrowings
recorded in the books which may act as a threat to the liquidity position. However, from the indirect sources we found that during financial year
2013, the company has witnessed an improvement in its performance due to the
levy of an anti-dumping duty in December 2012, on cheaper imports of digital
offset printing plates from China which has further improved the margins. Trade relations appear to be fair. Business is active. Payment terms
are reported as slow but correct. In view of strong market position in the domestic printing consumables
industry, and the operational efficiencies from its technical collaboration,
the subject can be considered for business dealings with some caution. |
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 |
CRISIL |
|
Rating |
BB+ [Long Term] |
|
Rating Explanation |
Moderate risk of default regarding timely servicing of financial
obligations. |
|
Date |
21.01.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ [Short Term] |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
21.01.2014 |
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.
INFORMATION DECLINED
Management non co-operative [91-22-27412463]
LOCATIONS
|
Registered office : |
Laxmi Mills Estate, Off. Dr. E. Moses Road, Mahalaxmi, Mumbai-400011,
Maharashtra, India |
|
Tel. No.: |
91-22-42200300/
27412463 / 27412464 (Extension - 480) / 27402589 |
|
Fax No.: |
91-22-24950322/
27410261 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate office : |
Plot No. E1/2/3, MIDC, Taloja, Raigad-410208, Maharashtra, India |
|
Tel. No.: |
91-22-27412463 |
|
Fax No.: |
91-22-27410261 |
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|
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|
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|
National Office : |
Located At : · Ahmedabad · Bangalore · Chennai · Delhi · Hyderabad · Kochi · Kolkata · Mumbai (Vidyavihar) · Indore · Lucknow |
|
|
|
|
International Office : |
Located At : · Dubai · South Africa · East Africa · United Kingdom and Europe · South America ·
North America |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pranav Natvarlal Parikh |
|
Designation : |
Chairman and Managing Director |
|
Address : |
18 A, Manek, L. D. Ruparel Marg, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1943 |
|
Qualification : |
B.Com., MBA Havard |
|
Date of Appointment : |
29.08.1979 |
|
PAN No.: |
AADPP7768H |
|
DIN No.: |
00318726 |
|
|
|
|
Name : |
Mr. Arvind Natvarlal Parikh |
|
Designation : |
Director |
|
Address : |
8, Palmera, L. D. Ruparel Marg, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
19.10.1927 |
|
Date of Appointment : |
29.08.1979 |
|
PAN No.: |
AABPP7241B |
|
DIN No.: |
00319473 |
|
|
|
|
Name : |
Mr. Jagdish Natvarlal Parikh |
|
Designation : |
Director |
|
Address : |
6B, Brighton, Nepean Sea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
07.02.1930 |
|
Date of Appointment : |
29.08.1979 |
|
DIN No.: |
00348650 |
|
|
|
|
Name : |
Mr. Jivanlal Gulabrai Bhatt |
|
Designation : |
Whole Time Director |
|
Address : |
556/ A, Shriketan, Adenwala Road, Matunga, Mumbai – 400
019, Maharashtra, India |
|
Date of Birth/Age : |
23.10.1952 |
|
Qualification : |
M.Sc. (North California State University, U.S.A.) |
|
Date of Appointment : |
01.01.1989 |
|
PAN No.: |
AAAPB8767D |
|
DIN No.: |
00435182 |
|
|
|
|
Name : |
Mrs. Snehal Arvind Parikh |
|
Designation : |
Director |
|
Address : |
5, Rushila Building, Carmichal Road, Mumbai – 400026,
Maharashtra, India |
|
Date of Birth/Age : |
01.02.1955 |
|
Date of Appointment : |
26.12.1988 |
|
DIN No.: |
00467965 |
|
|
|
|
Name : |
Mrs. Maya Pranav Parikh |
|
Designation : |
Whole Time-Director |
|
Address : |
18 A, Manek, L D Ruparel Marg, Malabar Hill Mumbai –
400006, Maharashtra, India |
|
Date of Birth/Age : |
27.01.1978 |
|
Date of Appointment : |
14.12.2001 |
|
PAN No.: |
AFSPP0124P |
|
DIN No.: |
00468051 |
|
|
|
|
Name : |
Ms. Shelina P. Parikh |
|
Designation : |
Whole Time Director |
|
Address : |
18 A, Manek, L. D. Ruparel Marg, Mumbai – 400006,
Maharashtra, India |
|
Date of Birth/Age : |
25.07.1968 |
|
Qualification : |
MBA-Harvard |
|
Date of Appointment : |
08.07.1994 |
|
PAN No.: |
AFVPP8218F |
|
DIN No.: |
00468199 |
|
|
|
|
Name : |
Mr. Ramkrishnan Gayathri |
|
Designation : |
Director |
|
Address : |
B1402, Anmol, 14th Floor, Opposite Patel Auto, Off S.V.
Road, Goregaon (West), Mumbai – 400062, Maharashtra, India |
|
Date of Birth/Age : |
01.03.1963 |
|
Date of Appointment : |
14.03.2007 |
|
DIN No.: |
01733464 |
|
|
|
|
Name : |
Mr. Mangesh Shripad Kulkarni |
|
Designation : |
Director |
|
Address : |
201, Moti Mahal, 28 Senapari Bapat Marg, Mahim, Mumbai - 400016,
Maharashtra India |
|
Date of Birth/Age : |
05.06.1942 |
|
Date of Appointment : |
18.04.2001 |
|
PAN No.: |
AACPK7623H |
|
DIN No.: |
00347908 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Equity Shares |
No. of
Preferences Shares |
|
Arvind N Parikh |
127600 |
-- |
|
Arvind N Parikh (HUF) |
3600 |
-- |
|
Anuradha Benegal |
105500 |
-- |
|
Jagdish N Parikh (HUF) |
600 |
-- |
|
Maya P Parikh Jointly with Pranav N Parikh |
100200 |
-- |
|
Maya P Parikh |
563100 |
-- |
|
Natverlal Parikh (HUF) |
4500 |
-- |
|
Poorvi A Parikh Jointly with Arvind N Parikh |
3600 |
-- |
|
Pranav N Parikh Jointly with Salome Pranav Parikh |
214325 |
-- |
|
Pranav N Parikh (HUF) |
1800 |
1000000 |
|
Savita S Parikh Jointly with Snehal A Parikh |
3600 |
-- |
|
Shelina P Parikh Jointly with Pranav N Parikh |
109800 |
-- |
|
Shelina P Parikh |
553500 |
-- |
|
Snehal A Parikh Jointly with Savita S Parikh |
64800 |
-- |
|
Jivan G Bhatt Jointly with Nilakshi Bhatt |
1075 |
-- |
|
Prashant J Parikh Trustee of Pan Family Trust |
41300 |
-- |
|
Jagdish N Parikh Jointly with Shila J Parikh |
64800 |
-- |
|
|
|
|
|
TOTAL
|
1963700 |
1000000 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Trading of Imaging Products. |
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|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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|
Bankers : |
· Corporation Bank, Corporate Financial Branch, 104, Bharat House, Ground Floor, Mumbai Samachar Marg, Mumbai – 400023, Maharashtra, India · Saraswat Co-Operative Bank |
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Facilities : |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
|
|
|
|
Auditors : |
|
|
|
|
Name : |
N.A. Shah and Associates Chartered Accountants |
|
|
|
Address : |
B 41 - 45 , Paragon Centre, Pandurang Budhkar Marg, Worli, Mumbai – 400013, Maharashtra, India |
|
|
|
PAN No: |
AAAFN5380N |
|
|
|
|
|
|
|
|
Associate Company : |
Lastra Niraj Private Limited, India CIN No.: U72900MH1980PTC022514 |
||
|
|
|
||
|
Subsidiary : |
Technova Imaging Systems Inc* |
||
|
|
|
||
|
Enterprises, where key management personnel
and relatives exercise significant influence : |
· Technova Parikh Enterprises · Lee and Muirhead Private Limited · DHL Lemuir Logistics Private Limited · A L Movers Private Limited · CIN No.: U63000MH1999PTC121101 · TechNova Graphics Private Limited ** CIN No.: U24110MH1952PTC008855 · DHL DANZAS LEMUIR PRIVATE LIMITED CIN No.: U63090MH2002PTC135399 · TOYO INK BUSINESSNETWORK INDIA PRIVATE LIMITED CIN No.: U74900DL2007PTC168260 |
||
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1980000 |
Equity Shares |
Rs.10/- each |
Rs.19.800 Millions |
|
1000000 |
Preferences Shares |
Rs.100/- each |
Rs.100.000 Millions |
|
20000 |
Unclassified Shares |
Rs.10/- each |
Rs.0.200 Million |
|
|
TOTAL
|
|
Rs.120.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1963700 |
Equity Shares |
Rs.10/- each
|
Rs.19.637
Millions |
|
1000000 |
Preferences Shares |
Rs.100/-
each |
Rs.100.000
Millions |
|
|
TOTAL |
|
Rs.119.637 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
119.637 |
119.637 |
|
(b) Reserves & Surplus |
|
290.076 |
272.722 |
|
(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) |
|
409.713 |
392.359 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
1635.155 |
1908.863 |
|
(b) Deferred tax liabilities (Net) |
|
31.790 |
31.984 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
85.516 |
114.095 |
|
Total Non-current
Liabilities (3) |
|
1752.461 |
2054.942 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
|
1600.632 |
1412.925 |
|
(b) Trade
payables |
|
548.055 |
459.212 |
|
(c) Other
current liabilities |
|
1279.955 |
1307.644 |
|
(d) Short-term
provisions |
|
62.971 |
61.815 |
|
Total Current
Liabilities (4) |
|
3491.613 |
3241.596 |
|
|
|
|
|
|
TOTAL |
|
5653.787 |
5688.897 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
|
1789.197 |
2005.270 |
|
(ii)
Intangible Assets |
|
8.218 |
16.068 |
|
(iii)
Capital work-in-progress |
|
52.024 |
1.555 |
|
(iv)
Intangible assets under development |
|
9.649 |
8.666 |
|
(b) Non-current Investments |
|
51.120 |
51.120 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
182.508 |
149.406 |
|
(e) Other
Non-current assets |
|
8.485 |
8.455 |
|
Total Non-Current
Assets |
|
2101.201 |
2240.540 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
1974.329 |
2112.541 |
|
(c) Trade
receivables |
|
1056.153 |
820.743 |
|
(d) Cash
and cash equivalents |
|
88.750 |
24.829 |
|
(e)
Short-term loans and advances |
|
369.222 |
463.137 |
|
(f) Other
current assets |
|
64.132 |
27.107 |
|
Total
Current Assets |
|
3552.586 |
3448.357 |
|
|
|
|
|
|
TOTAL |
|
5653.787 |
5688.897 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
119.637 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
73.065 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
192.702 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2943.993 |
|
|
2] Unsecured Loans |
|
|
832.310 |
|
|
TOTAL BORROWING |
|
|
3776.303 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3969.005 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2201.803 |
|
|
Capital work-in-progress |
|
|
4.824 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
75.230 |
|
|
DEFERREX TAX ASSETS |
|
|
67.968 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
1525.365
|
|
|
Sundry Debtors |
|
|
765.270
|
|
|
Cash & Bank Balances |
|
|
167.651
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
561.600
|
|
Total
Current Assets |
|
|
3019.886
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
976.737
|
|
|
Other Current Liabilities |
|
|
286.839
|
|
|
Provisions |
|
|
136.441
|
|
Total
Current Liabilities |
|
|
1400.017
|
|
|
Net Current Assets |
|
|
1619.180
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3969.005 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
NA |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
17.354 |
199.652 |
(14.501) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.51 |
96.34 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.90
|
8.47 |
19.60 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.06 |
2.16 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
|
119.637 |
119.637 |
|
Reserves & Surplus |
|
272.722 |
290.076 |
|
Net
worth |
|
392.359 |
409.713 |
|
|
|
|
|
|
long-term borrowings |
|
1908.863 |
1635.155 |
|
Short term borrowings |
|
1412.925 |
1600.632 |
|
Total
borrowings |
|
3,321.788 |
3,235.787 |
|
Debt/Equity
ratio |
|
8.466 |
7.898 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF CURRENT MATURITIES OF LONG TERM
DEBT:
|
Particulars |
31.03.2012 [Rs. in millions] |
31.03.2011 [Rs. in millions] |
31.03.2010 [Rs. in millions] |
|
|
|
|
|
|
Current
Maturities of Long Term Debt |
367.021 |
445.468 |
NA |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
No |
|
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 |
Yes |
|
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] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90213299 |
12/11/2013 * |
3,767,500,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, BHARAT HOUSE NO.104, GROUND FLOOR, MUMBAI SAMACHAR MARG, FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
B90819533 |
|
2 |
90213144 |
26/02/1998 |
415,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
CENTRAL ADMN.
OFFICE, APSARA CINEMA BUILDING 2ND FLOOR, GRANT ROAD, DR. D. B. MARG, MUMBAI
- 400007, MAHARASHTRA |
- |
|
3 |
90212437 |
23/12/1993 |
2,000,000.00 |
THE UNITED WESTERN BANK LIMITED |
LAXMI ROAD, PUNE - 411002, MAHARASHTRA, INDIA |
- |
|
4 |
90212157 |
17/05/1991 * |
5,200,000.00 |
THE INDUSTRIAL CREDIT & INVSTMEN CORPORATION OF INDIA LIMITED |
163, BACKBAY RECLAMATION, MUMBAI - 400020, MAHARASHTRA, INDIA |
- |
|
5 |
90211925 |
17/04/1989 |
168,900.00 |
CORPORATION BANK |
VEENA CHAMBERS, DALAL STREET; FORT, MUMBAI - 400023, MAHARASHTRA, INDIA |
- |
* Date of charge modification
LITIGATION DETAILS:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
FINANCIAL
HIGHLIGHTS:
The Company continued to experience tremendous challenges in the market
place under overall economic climate including dumping of products from
specific countries which lead to a severe pressure on the margins. The Company
has taken appropriate steps in this regard to improve the performance in
future.
|
Unsecured Loan |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Long Term
Borrowings |
|
|
|
Loans and advances from related parties |
807.100 |
807.637 |
|
TOTAL |
807.100 |
807.637 |
FIXED ASSETS:
Tangible Assets
· Land
· Buildings
· Factory Building
· Plant and Equipment
· Other plant and Equipment
· Furniture and Fixtures
· Vehicles
· Office Equipment
· Computer Equipments
· Other Equipments
Intangible Assets
· Goodwill
· Computer software
· Copyrights, patents and other operating rights
· Patents
· Commercial contractual right
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 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.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.