MIRA
INFORM REPORT
|
Report Date : |
27.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
SURYA EXIM LIMITED (w.e.f. 13.09.2002) |
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Formerly Known As
: |
PRESTIGE MARKETING LIMITED (w.e.f. 28.09.2001) PRESTIGE MARKETING PRIVATE LIMITED |
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Registered
Office : |
3040, Jash Textile and |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
28.06.1989 |
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Com. Reg. No.: |
04-012428 |
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Capital
Investment / Paid-up Capital : |
Rs. 57.750 Millions |
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CIN No.: [Company Identification
No.] |
U51100GJ1989PLC012428 |
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IEC No.: |
5299004150 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTS05536G |
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PAN No.: [Permanent Account No.] |
AABCP4158J |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Trader of Non-Coking Steam Coal, Chemical, Textile, Plastic Products,
Logistic Services. |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 1900000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject was originally incorporated in the name of “Prestige Marketing
Private Limited” in June 1989 by Mr. J. P. Saboo and converted into a Public Limited
Company in September 2001. Its name was later changed to “Surya Exim Limited”
in September 2002. The company has seen a healthy growth in operating income during last
few years, supported by growth in trading volumes. The ratings also take into consideration the high competitive
pressures and limited value addition in the business which reflects in its
low profitability margin. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of long standing experience of the promoters the subject can
be considered normal 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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 |
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Rating |
Long term fund based: “BB+” |
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Rating Explanation |
Moderate risk of default regarding timely servicing
of financial obligations. |
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Date |
January 2014 |
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Rating Agency Name |
ICRA |
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Rating |
Short term non-fund based limits: “A4+” |
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Rating Explanation |
Minimal degree of safety and very high
credit risk. |
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Date |
January 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 PARTED BY
|
Name : |
Ms. Binal |
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Designation : |
Taxation / Legal Department |
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Contact No.: |
91-261-4083100 |
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Date : |
25.02.2014 |
LOCATIONS
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Registered Office : |
3040, Jash Textile and Yarn Market Ring Road, Surat – 395003, Gujarat,
India |
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Tel. No.: |
91-261-4083100 / 101 |
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Fax No.: |
91-261-2328842 /
4083120 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Plant and Warehouse 1 : |
SURYA COAL SURAT Survey No. 51, Moje Gavier, ABG Shipyard Road, Magdalla Port,
Surat-395 007, Gujarat, India |
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Plant and Warehouse 2 : |
AMW WAREHOUSE Prahash Estate, Opposite, Hojiwala Estate, Mojevanz Road, Sachin
Palsana Road, Surat, Gujarat, India |
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Plant and Warehouse 3 : |
SILVASSA Standard House, 40/2, Near Naman Plastics Piparia, Silvassa Dadra
Nagar Haveli – 396230, India |
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E-Mail : |
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Plant and Warehouse 4 : |
DAMAN Plot No. 39/A, Survey No. 483/3, Diamond Industrial Estate, Village
Dabhel Taluka, District Daman, Daman and Diu, India |
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E-Mail : |
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Plant and Warehouse 5 : |
BHIWANDI Gala No. 5, A-Wing, Patil Compound, Village Val, Taluka Bhiwandi,
District Thane, Maharashtra, India |
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E-Mail : |
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Plant and Warehouse 6 : |
KOLKATA Shyamkunj, 12A, Lord Sinha Road, 4th Floor, Room 402, Kolkata 400071,
West Bengal, India |
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Plant and Warehouse 7 : |
SURYA COAL
NAGPUR R-101, Jagat Plaza, Nagpur – 440010, Maharashtra, India |
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Export Department : |
Mr. Sahjad Malek
(Textile) Tele. No.: 91-261-4083118 (D) Fax : 91-261-2328842/ 4083120 Email : sahjad@surya-exim.com Mr. Vipul
Padshala (Agriculture) Tele. No.: 91-261-4083126 (D) Fax : 91-261-2328842/ 4083120 Email : vipul@surya-exim.com |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mrs. Archana Jagdish
Saboo |
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Designation : |
Whole time
director |
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Address : |
3/A, Nidhiwan
Estate, B/H Gokul Row House, Umra, Surat, Gujarat, India |
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Date of Birth/Age : |
05.12.1968 |
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Qualification : |
B. Com |
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Date of Appointment : |
13.03.2013 |
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PAN No.: |
ACMPS5771Q |
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DIN No.: |
01711391 |
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Other Directorship :
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Name : |
Mr. Bhalesh
Rasiklal Mehta |
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Designation : |
Director |
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Address : |
8/B, Chandan Park
Society, Near Sardar Bridge Adajan, Surat, Gujarat, India |
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Date of Birth/Age : |
14.09.1964 |
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Qualification : |
B. Com |
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Date of Appointment : |
05.10.2003 |
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DIN No.: |
00004707 |
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Other Directorship :
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Name : |
Mr. Jagdish
Prasad Saboo |
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Designation : |
Managing Director
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Address : |
3/A, Nidhiwan
Estate, B/H Gokul Row House, Umra, Surat, Gujarat, India |
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Date of Birth/Age : |
02.04.1964 |
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Qualification : |
Chartered
Accountants |
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Date of Appointment : |
13.03.2013 |
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PAN No.: |
ABNPS7077B |
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DIN No.: |
01711507 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Binal |
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Designation : |
Taxation / Legal Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
13.42 |
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Bodies corporate |
|
38.33 |
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Directors or relatives of directors |
|
44.79 |
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Other top fifty shareholders |
|
3.46 |
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Total
|
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Non-Coking Steam Coal, Chemical, Textile, Plastic Products,
Logistic Services. |
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Products : |
·
Polyester Yarn ·
Polyester Chips (Pet) ·
Cotton Yarn ·
Nylon (6) ·
Viscose Yarn ·
Bare Spandex Yarn ·
Fabrics |
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Brand Name: |
· Yarn – “Surya Yarn” · Coal – “Surya Coal” |
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Exports : |
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Products : |
·
PVC Resin |
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Countries : |
·
U.A.E. |
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Imports : |
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Products : |
·
POY chips ·
Yarn ·
Petroleum Products ·
Nylon Chips |
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Countries : |
·
China ·
South Korea ·
China |
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Terms : |
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Selling : |
L/C and Credit (30 days/ 60 days) |
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Purchasing : |
L/C and Credit (60 days) |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
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Bankers : |
· HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg, Lower Parel W, Mumbai - 400013, Maharashtra, India · State Bank Of India, Specialized Commercial Branch, Kiran Chamber, Opposite J.K. Tower, Ring Road,, Surat - 395002, Gujarat, India · Bank of Baroda, 2nd Floor, Mid Corporate Branch, Baroda Sun Complex, Ghod Dod Road, Surat, Gujarat, India · Dena Bank, Atashbajiwala Mansion, Kotsafil Road, Burhanpuri Bhagal, Surat – 395003, Gujarat, India · Canara Bank ( Lead Bank ), K.M. Road Branch, Opposite Air India, Kotsafil Main Road, Surat, Gujarat, India · ICICI Bank Limited, Mega Branch HG-1, and HG-2, Platinum Plaza, Opposite V.T. Choksi College, Athwalines, Surat-395 007, Gujarat, India · City Union Bank Limited, Sahara Darwaja, Ring Road, Surat – 395002, Gujarat, India · Union Bank of India, Near Salabatpura Police Station, Salabatpura, Surat, Gujarat, India |
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Facilities : |
NFB
:
Rs.550.000 millions (From Canara Bank) FB
:
Rs. 32.500 millions (From Canara Bank) NFB
:
Rs.375.000 millions (From ICICI Bank Limited) FB
:
Rs. 25.000 millions (From ICICI Bank Limited) NFB
:
Rs.300.000 millions (From Bank of Baroda) FB
:
Rs. 25.000 millions (From Bank of Baroda) NFB
:
Rs.240.000 millions (From Dena Bank) FB
:
Rs.12.500 millions (From Dena Bank) NFB
:
Rs.100.000 millions (From City Union Bank Limited) FB
:
Rs. 2.500 millions (From City Union Bank Limited) NFB
:
Rs.100.000 millions (From Union bank of India) FB
:
Rs. 2.500 millions (From Union bank of India) (Rs.
In Millions)
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Banking Relations
: |
-- |
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Auditors 1: |
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Name: |
Khadaria and Associates Chartered Accountants |
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Address : |
607-08, Ajanta Shopping Centre, Ring Road, Surat- 395002, Gujarat,
India |
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Tel. No.: |
91-261-2344116 |
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E-Mail : |
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PAN No : |
AAFFK4704Q |
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Auditors 2: |
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Name: |
Sutarwala and
Associates Chartered
Accountants |
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Address : |
2nd Floor,
above LG Electronics, Opposite, Saher Bakery, Makai Pool, Nanpura, Surat,
Gujarat, India |
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PAN No : |
ADRPS1314F |
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Sister Concern : |
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CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7500000 |
Equity Shares |
Rs.10/- each |
Rs. 75.000 Millions |
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|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5775000 |
Equity Shares |
Rs.10/- each |
Rs. 57.750
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 |
57.750 |
55.000 |
55.000 |
|
(b) Reserves & Surplus |
427.036 |
245.609 |
157.151 |
|
(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) |
484.786 |
300.609 |
212.151 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
69.218 |
92.577 |
101.751 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
69.218 |
92.577 |
101.751 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
261.195 |
85.934 |
42.738 |
|
(b) Trade payables |
1158.999 |
1089.998 |
996.924 |
|
(c) Other current liabilities |
6.292 |
15.314 |
20.735 |
|
(d) Short-term provisions |
19.755 |
30.849 |
13.037 |
|
Total
Current Liabilities (4) |
1446.241 |
1222.095 |
1073.434 |
|
|
|
|
|
|
TOTAL |
2000.245 |
1615.281 |
1387.336 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
54.455 |
|
(i) Tangible assets |
65.046 |
95.128 |
0.000 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2.655 |
2.508 |
2.508 |
|
(c) Deferred tax assets (net) |
2.640 |
0.232 |
0.646 |
|
(d) Long-term Loan and Advances |
0.000 |
0.146 |
0.244 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
70.341 |
98.014 |
57.853 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
284.939 |
231.874 |
426.300 |
|
(c) Trade receivables |
1079.817 |
839.578 |
546.017 |
|
(d) Cash and cash equivalents |
465.779 |
369.511 |
295.288 |
|
(e) Short-term loans and
advances |
30.540 |
15.490 |
7.890 |
|
(f) Other current assets |
68.829 |
60.814 |
53.988 |
|
Total
Current Assets |
1929.904 |
1517.267 |
1329.483 |
|
|
|
|
|
|
TOTAL |
2000.245 |
1615.281 |
1387.336 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
9004.018 |
8713.301 |
6099.357 |
|
|
Other Income |
0.627 |
0.022 |
47.265 |
|
|
TOTAL
(A) |
9004.645 |
8713.323 |
6146.622 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Purchases of Stock-in-Trade |
8790.487 |
8039.913 |
5903.063 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(53.064) |
194.425 |
(54.359) |
|
|
Employees benefits expense |
21.733 |
17.727 |
12.116 |
|
|
Other expenses |
23.236 |
230.705 |
196.156 |
|
|
Exceptional items before tax |
0.000 |
0.000 |
(0.001) |
|
|
TOTAL
(B) |
8782.392 |
8482.770 |
6056.975 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
222.253 |
230.553 |
89.647 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
64.775 |
71.904 |
1.005 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
157.478 |
158.649 |
88.642 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
32.828 |
26.708 |
18.692 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
124.650 |
131.941 |
69.950 |
|
|
|
|
|
|
|
Less |
TAX
(H) |
39.474 |
43.483 |
14.126 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H)
(I) |
85.176 |
88.458 |
46.824 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
14.75 |
16.08 |
8.51 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.95 |
1.02 |
0.76 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.38 |
1.51 |
1.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.25 |
8.18 |
5.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26 |
0.44 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.68 |
0.59 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.33 |
1.24 |
1.24 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
55.000 |
55.000 |
57.750 |
|
Reserves & Surplus |
157.151 |
245.609 |
427.036 |
|
Net
worth |
212.151 |
300.609 |
484.786 |
|
|
|
|
|
|
long-term borrowings |
101.751 |
92.577 |
69.218 |
|
Short term borrowings |
42.738 |
85.934 |
261.195 |
|
Total
borrowings |
144.489 |
178.511 |
330.413 |
|
Debt/Equity
ratio |
0.681 |
0.594 |
0.682 |
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 |
6,099.357 |
8,713.301 |
9,004.018 |
|
|
|
42.856 |
3.336 |
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 |
6,099.357 |
8,713.301 |
9,004.018 |
|
Profit |
46.824 |
88.458 |
85.176 |
|
|
0.77% |
1.02% |
0.95% |
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 |
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 |
TRADE REFERENCES
|
Name : |
Sumeet Industries Limited |
|
Address : |
504, Trividh Chamber, 5th Floor, Opposite Fire Station, Ring Road, Surat, Gujarat, India |
|
Contact Details: |
91-9879595100 (Mr. Shankarlal Somani) |
|
Name : |
Aakar Processors Limited |
|
Address : |
Block No. 69 Opposite Ashwariya Dyeing mills, Kadodra, Vareli, District : Surat, Gujarat, India |
|
Contact Details: |
91-9825118941 (Mr. Naval Kishore Rathi) |
|
Name : |
Navnidhi Dyeing and Printing Mills |
|
Address : |
Tatithaiya Surat Bardoli Road, District : Surat, Gujarat, India |
|
Contact Details: |
91-9825135331 (Mr. Kunj Bihari Totla) |
|
Name : |
Jash Synethics |
|
Address : |
511, Super Tex Tower, Rinfg Road, Surat-395002, Gujarat, India |
|
Contact Details: |
91-924177491 (Mr. Mukesh Agarwal) |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured (Rs. in Millions) |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10320343 |
11/03/2013 * |
350.000 |
STATE BANK OF INDIA |
SME Branch, Kiran Chamber, Opposite, J K Tower, Ring |
B71359228 |
|
2 |
10298278 |
01/07/2011 |
9.560 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai, Maharashtra - 400013, India |
B17228560 |
|
3 |
10298279 |
01/07/2011 |
9.560 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai, Maharashtra - 400013, India |
B17229147 |
|
4 |
10298280 |
01/07/2011 |
9.560 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai, Maharashtra - 400013, India |
B17229501 |
|
5 |
10298498 |
01/07/2011 |
9.560 |
HDFC BANK LIMITED |
HDFC Bank House Senapati Bapat Marg, Lower Parel (West), Mumbai, Maharashtra - 400013, India |
B17319856 |
|
6 |
90113004 |
14/12/2012 * |
1.600 |
CANARA BANK |
Kotsafil Main Road Branch, Annapurna Building,, Opposite Air India, Kotsafil Main Road, Surat, Gujarat - 395002, India |
B65038796 |
* Date of charge modification
FIXED ASSETS:
· Furniture and Fixture
· Vehicles
· Cycle
· Car
· Computer
· Coal Warehouse
· Electrical Installation
· Land
· Plant and Machinery
· Weightment Machines
· Factory Shed
· Pipeline and Fitting
· Screening Plant
· Neon Sine Board
· Generator
· Pay Loader
· Tea / Coffee Machine
· Cell Phone
· Air Conditioners
· Time Control Machine
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. 61.94 |
|
|
1 |
Rs. 103.31 |
|
Euro |
1 |
Rs. 85.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
46 |
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.