MIRA
INFORM REPORT
|
Report Date : |
25.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MANGALAM ALLOYS LIMITED |
|
|
|
|
Formerly Known
As : |
MANGALAM ALLOYS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Plot No. 3123-3126, GIDC, Phase III, Chhatral, District Gandhinagar –
382729, |
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|
Country : |
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|
|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
01.08.1988 |
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|
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|
Com. Reg. No.: |
04-011051 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs.65.951 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27109GJ1988PLC011051 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM01070G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM6740P |
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|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Subject is engaged in the Manufacturing of Stainless Steel Ingots,
Flats, Rounds, Bright Bars and Fasteners. |
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|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 905000 |
|
|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The ratings reflects moderate financial risk profile marked by high
working capital intense nature of business operation and increases in the
debt levels which can impacts its liquidity position. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company 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 |
ICRA |
|
Rating |
Term loan BB+ |
|
Rating Explanation |
Moderate risk of default and high credit
risk |
|
Date |
February 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
LC / BG Limits A4+ |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
February 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 PARTED BY
|
Name : |
Mr. Ajay Patel |
|
Designation : |
Account Executive |
|
Contact No.: |
91-2764-232064 |
|
Date : |
24.02.2014 |
LOCATIONS
|
Registered Office / Factory : |
Plot No. 3123-3126, GIDC, Phase III, Chhatral, District Gandhinagar –
382729, Gujarat, India |
|
Tel. No.: |
91-2764-232064 / 232025 |
|
Fax No.: |
91-2764-234361 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Uttamchand Chandanmal Mehta |
|
Designation : |
Managing Director |
|
Address : |
3, Chandramauleshwar Farm, Near Mohamadpura Bus Stop, Ambli Bopal
Road, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
20.11.1953 |
|
Qualification : |
B.E. (Chem) |
|
Date of Appointment : |
01.09.2009 |
|
PAN No.: |
ABCPM3554A |
|
DIN No.: |
00153639 |
|
|
|
|
Name : |
Mr. Lokeshkumar Bansilal Jain |
|
Designation : |
Whole Time Director |
|
Address : |
A 2, 102, Vishwas City – I, Opposite Shayon City, R C Technical Road,
Ghatoldia, Ahmedabad, Gujarat, India |
|
Date of Birth/Age : |
05.01.1973 |
|
Qualification : |
C.A. and I.C.W.A. |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
ADEPJ7179J |
|
DIN No.: |
00186623 |
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|
|
|
Name : |
Mr. Tushar Uttamchand Mehta |
|
Designation : |
Whole Time Director |
|
Address : |
3, Chandramauleshwar Farm, Near Mohamadpura Bus Stop, Ambli Bopal
Road, Ahmedbad, Gujarat, India |
|
Date of Birth/Age : |
09.06.1987 |
|
Qualification : |
B.E. (Mech) |
|
Date of Appointment : |
01.10.2012 |
|
PAN No.: |
AMOPM6461H |
|
DIN No.: |
00187046 |
KEY EXECUTIVES
|
Name : |
Mr. Ajay Patel |
|
Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Bhandari Pirakashchandra Chandmal |
40500 |
|
Bhandari Mankumari Prakashchandra |
31500 |
|
Bhandari Avinash Prakashchand |
22500 |
|
Bhandari Rachna Prakashchandra |
11250 |
|
Bhandari Pirakashchandra Chandmal Jointly With Avinash Bhandari and
Reema Bhandari |
18000 |
|
Bhandari Pirakashchandra C. Jointly With Mankumari Bhandari |
6750 |
|
Raval Motilal Maganlal Prop's of Rekha Enterprise |
13200 |
|
Purohit Bhanwarlal Bhurji |
4000 |
|
Mehta Tirth Uttamchand |
13700 |
|
Mehta Tushar Uttamchand |
179950 |
|
Mehta Pushpadevi Uttamchand |
608650 |
|
Mehta Uttamchand Chandanmal |
851000 |
|
Mehta Uttamchand Jointly With Pushpadevi Uttamchand |
2000 |
|
Netvision Web Technologies Limited, India |
50000 |
|
Shelja Finlease Private Limited, India |
331700 |
|
Tribhuvan Lease Finance Private Limited, India |
2364650 |
|
Ankit Ashokkumar Gupta |
10000 |
|
Ashokkumar Sonderlal Gupta |
10000 |
|
Rajesh Agrawal Jointly With Ranchna Agrawal |
20000 |
|
Archer Financial Services Private Limited, India |
312000 |
|
Grin BPO Services Private Limited, India |
237750 |
|
Green Star Financial Services Private Limited, India |
336000 |
|
Suraj Corporate Services Private Limited, India |
240000 |
|
TPL Finance Limited, India |
420000 |
|
Richgold Finance and Securities Limited, India |
380000 |
|
Dhanlaxmi Lease Finance Private Limited, India |
80000 |
|
|
|
|
Total
|
6595100 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
72.05 |
|
Directors or relatives of Directors |
25.10 |
|
Other top fifty shareholders |
2.85 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the Manufacturing of Stainless Steel Ingots,
Flats, Rounds, Bright Bars and Fasteners. |
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Products : |
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Exports : |
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Products : |
Finish Goods |
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Countries : |
·
Singapore ·
Vietnam ·
South Africa |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
USA ·
Germany |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
State Bank of India, Industrial Finance Branch,
Gujarat Bhavan, Opposite M.J. Library, Ellisbridge, Ahmedabad – 380006,
Gujarat, India · State Bank of India, Industrial Finance Branch, 1st Floor, Neptune Tower Annexe, Opposite Gandhigram RS, Ahmedabad - 380009, Gujarat, India · Small Industries Development Bank of India First Floor, Navjivan Amrit Jayanti Bhavan, P.B. No.10, Navjivan Post Office, Ahmedabad - 380014, Gujarat, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Kishan M. Mehta and Company Chartered Accountants |
|
Address : |
6th Floor, Premchand House Annexe, Old High Court Way,
Ashram Road, Ahmedbad – 380009, Gujarat, India |
|
PAN
No. : |
AABFK8431G |
|
|
|
|
Associates : |
·
Unison Forgings Limited CIN No.:
U27100GJ2006PLC047841 ·
Tribhuvan Lease Finance Private Limited CIN No.:
U65910GJ1995PTC024789 |
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|
|
|
Group Companies : |
·
Mehta Alloys Limited ·
Universal Metal Limited ·
Unison Metals Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7000000 |
Equity Shares |
Rs.10/- each |
Rs.70.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6595100 |
Equity Shares |
Rs.10/- each |
Rs.65.951 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 |
65.951 |
63.349 |
63.349 |
|
(b) Reserves & Surplus |
160.277 |
179.664 |
169.772 |
|
(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) |
226.228 |
243.013 |
233.121 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
59.068 |
99.681 |
88.044 |
|
(b) Deferred tax liabilities
(Net) |
29.734 |
30.926 |
31.515 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
2.156 |
1.515 |
1.267 |
|
Total Non-current Liabilities (3) |
90.958 |
132.122 |
120.826 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
352.308 |
254.469 |
230.846 |
|
(b) Trade payables |
160.360 |
117.057 |
128.412 |
|
(c) Other current liabilities |
68.466 |
58.920 |
44.260 |
|
(d) Short-term provisions |
19.843 |
5.578 |
6.468 |
|
Total Current Liabilities (4) |
600.977 |
436.024 |
409.986 |
|
|
|
|
|
|
TOTAL |
918.163 |
811.159 |
763.933 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
243.054 |
248.285 |
242.903 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
2.630 |
14.556 |
9.206 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
8.336 |
9.726 |
10.230 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
15.577 |
5.397 |
6.998 |
|
(e) Other Non-current assets |
36.024 |
46.519 |
43.218 |
|
Total Non-Current Assets |
305.621 |
324.483 |
312.555 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
279.301 |
240.237 |
223.916 |
|
(c) Trade receivables |
257.393 |
191.073 |
175.680 |
|
(d) Cash and cash equivalents |
8.299 |
8.388 |
8.334 |
|
(e) Short-term loans and
advances |
60.056 |
37.232 |
36.096 |
|
(f) Other current assets |
7.493 |
9.746 |
7.352 |
|
Total Current Assets |
612.542 |
486.676 |
451.378 |
|
|
|
|
|
|
TOTAL |
918.163 |
811.159 |
763.933 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
1407.156 |
1382.902 |
1228.448 |
|
|
Other Income |
3.451 |
12.861 |
1.774 |
|
|
TOTAL |
1410.607 |
1395.763 |
1230.222 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
949.800 |
946.758 |
892.742 |
|
|
Purchases of Stock-in-Trade |
0.000 |
0.000 |
0.000 |
|
|
Changes in inventories of finished goods,
work-in-progress and Stock-in-Trade |
(45.809) |
1.185 |
(48.064) |
|
|
Employees benefits expense |
50.707 |
41.786 |
31.258 |
|
|
Other expenses |
353.932 |
313.092 |
271.016 |
|
|
TOTAL
|
1308.630 |
1302.821 |
1146.952 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
101.977 |
92.942 |
83.270 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
52.457 |
41.464 |
29.373 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
49.520 |
51.478 |
53.897 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
30.535 |
27.551 |
24.710 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
18.985 |
23.927 |
29.187 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
(0.314) |
(14.035) |
4.597 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
19.299 |
9.892 |
24.590 |
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.01 |
1.56 |
3.88 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.37
|
0.71 |
2.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.35
|
1.73 |
2.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.09
|
3.04 |
4.26 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.10 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.82
|
1.46 |
1.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02
|
1.12 |
1.08 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
63.349 |
63.349 |
65.951 |
|
Reserves & Surplus |
169.772 |
179.664 |
160.277 |
|
Net
worth |
233.121 |
243.013 |
226.228 |
|
|
|
|
|
|
long-term borrowings |
88.044 |
99.681 |
59.068 |
|
Short term borrowings |
230.846 |
254.469 |
352.308 |
|
Total
borrowings |
318.890 |
354.150 |
411.376 |
|
Debt/Equity
ratio |
1.368 |
1.457 |
1.818 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1228.448 |
1382.902 |
1407.156 |
|
|
|
12.573 |
1.754 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns) |
(INR
in Mlns) |
(INR
in Mlns) |
|
Sales |
1228.448 |
1382.902 |
1407.156 |
|
Profit |
24.590 |
9.892 |
19.299 |
|
|
2.00% |
0.72% |
1.37% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
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 |
50.801 |
45.981 |
33.239 |
|
|
|
|
|
|
Total |
50.801 |
45.981 |
33.239 |
|
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 |
Yes |
|
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
2.374 |
0.472 |
|
Rupee term loans from others |
5.388 |
6.045 |
|
Deposits from directors |
5.422 |
0.000 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans repayable on demand from others |
62.129 |
31.152 |
|
|
|
|
|
Total |
75.313 |
37.669 |
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U27109GJ1988PLC011051 |
|
Name of the
company |
MANGALAM
ALLOYS LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Plot No. 3123-3126, GIDC, Phase III, Chhatral, District Gandhinagar –
382729, Gujarat, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property |
|
Particular of
charge holder |
Small Industries Development Bank of India Address : First Floor, Navjivan Amrit Jayanti Bhavan,
First
Floor, Navjivan Amrit Jayanti Bhavan, Ahmedabad – 380014, Gujarat, India E-Mail : lrnarayana@sidbi.in |
|
Nature of
instrument creating charge |
MEMORANDUM
OF DEPOSIT OF TITLE DEEDS DATED 02.01.2014 |
|
Date of
instrument Creating the charge |
02.01.2014 |
|
Amount secured by
the charge |
Rs. 45.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
interest: Interest will be payable at the rate of 12.50% p.a. with monthly
rests. Term
of Payment: Entire term loan of Rs.45.000 millions is proposed to be
repaid in 78 monthly installments after a moratorium of 6 months from the date
of first disbursement in following manner Installment Nos. Value (Rs.) 1 to
77 Rs. 0.580
Million 78th Rs. 0.340 Million Total Rs. 45.000 Millions Margin: Not Applicable Extent and operation
of the charge 1.
Exclusive/First Charge by way of mortgage of immovable properties i.e.
Industrial land and building located at Plot No. 3246 and 3247, GIDC
Chhatral, Taluka: Kalol, Dist. :Gandhinagar, Gujarat Admeasuring 5026.21 sq.
yards owned by Mangalam Alloys Limited.2.First Charge to be created on
unencumbered tangible assets financed under the scheme, if any. Others: The
borrower shall procure and furnish irrevocable and unconditional guarantee of
Shri Uttamchand Chandanmal Mehta. No Guarantee commission shall be payable to
the guarantor(s). |
|
Short particulars
of the property charged (Including location of the property) |
i.
All those piece and parcel of lease
hold land admeasuring about 9544.32 sq. mts. bearing Plot Nos. 3246 and 3247,
situated in Chhatral Industrial Estate, G.I.D.C., standing on land bearing …. ii.
R.S. No. 96/P, 97/P and 98/P
situated, lying and being within the village limit of Mouje : Chhatral,
Taluka : Kalol, within the Registration Sub-District : Kalol and District : Gandhinagar. |
FIXED ASSETS
¨ Land
¨ Buildings
¨ Factory Building
¨ Plant and Equipment
¨ Factory Equipments
¨ Furniture and Fixtures
¨ Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No 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.62.12 |
|
|
1 |
Rs.103.38 |
|
Euro |
1 |
Rs.85.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.