MIRA
INFORM REPORT
|
Report Date : |
28.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
MADHU SILICA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. 147, GIDC Estate, Village Vartej, |
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|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
20.10.1987 |
|
|
|
|
Com. Reg. No.: |
04-010073 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 60.000
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24299GJ1987PTC010073 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM4381J |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Precipitated Silica’s. |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 7300000 |
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|
|
|
Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established company having fine track record. The rating reflects established position in the domestic precipitated silica
industry with a strong client base marked by healthy profitability, favorable
capital structure and strong liquidity indicators. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 |
CARE |
|
Rating |
Long term Bank facilities : AA- |
|
Rating Explanation |
High degree of safety and very low credit
risk./ |
|
Date |
November 11, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term Bank facilities : A1+ |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
November 11, 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. Pravin Parmar |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9227773021 |
|
Date : |
27.02.2014 |
LOCATIONS
|
Registered/ Head Office/ Factory 1: |
Plot No. 147, GIDC Estate, Village Vartej, Bhavangar - 364060, Gujarat, India |
|
Tel. No.: |
91-278-2541766/ 2541866/ 2939550/ 2939560 |
|
Mobile No.: |
91-9227773021 (Mr. Pravin) |
|
Fax No.: |
91-278-2541200 |
|
E-Mail : |
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|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory 2 : |
53, 55, 56 – B, G.I.D.C, Chitra Industrial Estate, Bhavnagar – 364004,
Gujarat, India |
|
Tel. No.: |
91-278-2445415/ 37/ 2446263/ 6161 |
|
Fax No.: |
91-278-2446159 |
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|
|
|
Marketing Offices 1 : |
Delhi Office : 1104, Devika Tower, 6-Nehru Place, New Delhi-110019, India |
|
Tel. No.: |
91-11-46542225/ 6/ 7/ 8 |
|
Fax No.: |
91-11-46542229 |
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E-Mail : |
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Marketing Offices 2 : |
Mumbai Office : 6, "Suyog", Gokhala Road (N), Dadar, Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-24323065/
28221770/ 24228865 |
|
Fax No.: |
91-22-28376184 |
|
E-Mail : |
DIRECTORS
AS ON 31.07.2013
|
Name : |
Mr. Rameshchandra Vinaychand Shah |
|
Designation : |
Managing director |
|
Address : |
1899/A, Vasudha, Opposite Akash Ganga Flats, New Rupani Circle, Bhavnagar - 364001, Gujarat, India |
|
Date of Birth/Age : |
14.08.1945 |
|
Qualification : |
B.Sc. |
|
Experience : |
42 Years |
|
Date of Appointment : |
20.10.1987 |
|
PAN No.: |
AJBPS3136R |
|
DIN No.: |
00062983 |
|
|
|
|
Name : |
Mr. Darshak Rameshchandra Shah |
|
Designation : |
Director |
|
Address : |
1899/A Vasudha, Opposite Akash Ganga Flats, Rupani Circle, Bhavnagar – 364002, Gujarat, India |
|
Date of Birth/Age : |
02.01.1974 |
|
Qualification : |
B. Tech. (Chem) |
|
Experience : |
16 Years |
|
Date of Appointment : |
02.09.1997 |
|
PAN No.: |
AGYPS8543E |
|
DIN No.: |
00063063 |
|
|
|
|
Name : |
Mr. Dattatray Anant Vartak |
|
Designation : |
Director |
|
Address : |
202, B Wing, Alok Apartment, Mahant Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India |
|
Date of Birth/Age : |
15.12.1934 |
|
Date of Appointment : |
20.11.1987 |
|
DIN No.: |
00085059 |
|
|
|
|
Name : |
Neepa Udaykant Mehta |
|
Designation : |
Director |
|
Address : |
102 - Panna Tower, Plot No. 1940-B, Rupani, Bhavnagar – 364001, Gujarat, India |
|
Date of Birth/Age : |
26.01.1968 |
|
Date of Appointment : |
01.09.2007 |
|
PAN No.: |
ACFPM7152E |
|
DIN No.: |
01780860 |
KEY EXECUTIVES
|
Name : |
Mr. Pravin Parmar |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.07.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ramesh V Shah |
|
132201 |
|
Ramesh V. Shah
(HUF) |
|
133063 |
|
Kalpanaben R. Shah
|
|
89302 |
|
Darshak R shah |
|
153626 |
|
Reena D. Shah |
|
20129 |
|
R.V. Shah Family
Trust, India |
|
36000 |
|
Darshak Finstock
Private Limited, India |
|
45045 |
|
Bharat P. Raut |
|
9600 |
|
Bharat P. Raut
(HUF) |
|
1440 |
|
Vidya B. Raut |
|
7680 |
|
Manas B. Raut |
|
480 |
|
Udaykant Mehta |
|
31614 |
|
Udaykant L. Mehta
/ Ragini A Dhru |
|
1552 |
|
Udaykant L. Mehta/
Jhankhana V. Vora |
|
1552 |
|
Udaykant L. Mehta/
Kalyani P. Vora |
|
1552 |
|
Udaykant L. Mehta/
Shivani T. Mehta |
|
1552 |
|
Udaykant L. Mehta/
Neepa U. Mehta |
|
1523 |
|
Ragini A Dhru / Avinash V. Dhru |
|
1700 |
|
Jhankhana V. Vora / Viral C. Vora |
|
3363 |
|
Kalyani P. Vohra/ Prakash A. Vohra |
|
2019 |
|
Shivani T Mehta/ Tushar H. Mehta |
|
2000 |
|
Neepa U. Mehta/ Charumati U. Mehta |
|
3229 |
|
Dattarai Vartak |
|
5864 |
|
Ajita Patil |
|
12472 |
|
Prasad D. Vartak |
|
5864 |
|
Shardaben Shastry |
|
21964 |
|
Ramesh R. Shastry |
|
24674 |
|
Nalini S. Shastry |
|
2509 |
|
Vaibhav S. Shastry |
|
2422 |
|
Chetana S. Shastry |
|
2421 |
|
Chitra R. Shastry |
|
11588 |
|
|
|
|
|
Total |
|
770000 |
AS ON 22.11.2013
|
Names of Allottees |
|
No. of Shares |
|
Ramesh V Shah |
|
25000 |
|
Darshak R shah |
|
25000 |
|
|
|
|
|
Total |
|
50000 |
AS ON 31.07.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
6.26 |
|
Directors
or relatives of directors |
81.21 |
|
Other
top fifty shareholders |
12.53 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Precipitated Silica’s. |
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|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· China Nigeria |
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|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
· USA Sweden |
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|
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Terms : |
|
|
Selling : |
L/C, Cash and Credit |
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|
|
|
Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Gujarat Heavy Chemicals Limited |
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Customers : |
Others · Hindustan Unilever Limited |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
· Standard Chartered Bank Abhijeet II, Ground Floor, Near Mithakali Six Roads, Ahmedabad - 380006, Gujarat, India ·
State Bank of Saurashtra Chitra [SME] Branch, Bhavnagar - 364004, Gujarat, India · State Bank of India Chitra Industrial Estate Branch, Bhavnagar, Gujarat, India
|
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. G. Hemani And Company Chartered Accountants |
|
Address : |
"ARISTO" 2nd Floor, Near Radha Mandir, Waghawadi
Road, Bhavnagar – 364001, Gujarat, India
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP1906A |
|
|
|
|
Enterprises which
are owned, or have significant influence of or are partners with Key
management personnel and their relatives : |
· Aquagel Chemicals Private Limited [U24110GJ1990PTC014727] Darshak Finstock Private Limited [U65910GJ1991PTC015449] Shri R V Shah Family Trust |
CAPITAL STRUCTURE
AFTER 31.07.2013
Authorised Capital : Rs. 100.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 97.000
Millions
AS ON 31.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
970,000 |
Equity Shares |
Rs. 100/- each |
Rs. 97.000
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
770,000 |
Equity Shares |
Rs. 100/- each |
Rs. 77.000
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,000,000 |
Equity Shares |
Rs. 100/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
720,000 |
Equity Shares |
Rs. 100/- each |
Rs. 72.000
Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
480,000 |
Equity Shares (Subscribed and Fully Paid-up) |
Rs. 100/- each |
Rs. 48.000
Millions |
|
240,000 |
Equity Shares (Subscribed but not Fully Paid-up) |
Rs. 100/- each |
Rs. 24.000
Millions |
|
|
Less: Calls Unpaid |
|
Rs. 12.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 60.000 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 |
60.000 |
54.000 |
48.000 |
|
(b) Reserves & Surplus |
1,770.269 |
1,484.042 |
1,207.520 |
|
(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) |
1,830.269 |
1,538.042 |
1,255.520 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
60.532 |
120.651 |
180.526 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
12.000 |
32.800 |
|
(c) Other long
term liabilities |
1.458 |
1.168 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
61.990 |
133.819 |
213.326 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
221.705 |
267.194 |
120.048 |
|
(b)
Trade payables |
161.306 |
132.290 |
163.312 |
|
(c)
Other current liabilities |
77.072 |
77.743 |
76.150 |
|
(d) Short-term
provisions |
227.486 |
197.173 |
151.465 |
|
Total Current
Liabilities (4) |
687.569 |
674.400 |
510.975 |
|
|
|
|
|
|
TOTAL |
2,579.828 |
2,346.261 |
1,979.821 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
778.898 |
1,016.147 |
1,044.373 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.032 |
0.000 |
6.792 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.762 |
0.762 |
1.048 |
|
(c) Deferred tax assets (net) |
39.465 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
20.328 |
67.862 |
68.362 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
839.485 |
1,084.771 |
1,120.575 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
587.824 |
257.801 |
175.974 |
|
(b)
Inventories |
112.669 |
82.188 |
44.425 |
|
(c)
Trade receivables |
690.756 |
597.497 |
451.452 |
|
(d) Cash
and cash equivalents |
39.365 |
14.422 |
14.646 |
|
(e)
Short-term loans and advances |
89.855 |
83.768 |
34.910 |
|
(f)
Other current assets |
219.874 |
225.814 |
137.839 |
|
Total
Current Assets |
1,740.343 |
1,261.490 |
859.246 |
|
|
|
|
|
|
TOTAL |
2,579.828 |
2,346.261 |
1,979.821 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2473.569 |
2453.912 |
1839.002 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA
|
NA
|
NA
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
614.703 |
666.705 |
560.634 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
288.240 |
262.093 |
92.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
326.463 |
404.612 |
468.227 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
94.236 |
121.700 |
112.299 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
232.227 |
282.912 |
355.928 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
966.571 |
772.350 |
541.578 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
23.200 |
28.300 |
35.600 |
|
|
|
Dividend |
0.000 |
51.962 |
76.800 |
|
|
|
Tax on Dividend |
0.000 |
8.429 |
12.756 |
|
|
|
|
23.2 |
88.691 |
125.156 |
|
|
BALANCE CARRIED
TO THE B/S |
1175.598 |
966.571 |
772.350 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
322.54 |
392.93 |
741.52 |
|
Expected Sales (2013-2014): Rs. 3000.000 Millions
The above information has been parted by Mr. Pravin Parmar (Accounts
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
13.20
|
16.49 |
25.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.86
|
17.25 |
23.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.26 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.15
|
0.25 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.53
|
1.87 |
1.68 |
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 |
48.000 |
54.000 |
60.000 |
|
Reserves & Surplus |
1,207.520 |
1,484.040 |
1,770.270 |
|
Net
worth |
1,255.520 |
1,538.042 |
1,830.269 |
|
|
|
|
|
|
long-term borrowings |
180.526 |
120.651 |
60.532 |
|
Short term borrowings |
120.048 |
267.194 |
221.705 |
|
Total
borrowings |
300.574 |
387.845 |
282.237 |
|
Debt/Equity
ratio |
0.239 |
0.252 |
0.154 |
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) |
|
Revenue from operations |
1839.002 |
2453.912 |
2473.569 |
|
|
|
33.437 |
0.801 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
in Millions) |
(Rs.
in Millions) |
(Rs.
in Millions) |
|
Revenue from operations |
1839.002 |
2453.912 |
2473.569 |
|
Profit |
355.928 |
282.912 |
232.227 |
|
|
19.35% |
11.53% |
9.39% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT
|
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 |
59.340 |
59.340 |
59.340 |
|
|
|
|
|
|
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10462256 |
20/11/2013 |
600,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
B90315136 |
|
2 |
10212581 |
12/04/2010 |
237,360,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
A83355156 |
|
3 |
10212580 |
02/04/2010 |
237,360,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
A83354761 |
|
4 |
10156730 |
02/08/2013 * |
350,000,000.00 |
STANDARD CHARTERED BANK |
ABHIJEET II, GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD - 380006, GUJARAT, INDIA |
B82473430 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans and advances from directors |
31.278 |
23.051 |
|
Loans and advances from others |
21.505 |
22.897 |
|
|
|
|
|
Total |
52.783 |
45.948 |
CHANGE OF ADDRESS:
The Registered office of the company has been shifted from 53, 55, 56 -
B, G.I.D.C, Chitra Industrial Estate, Bhavnagar - 364004, Gujarat, India to the
present address w.e.f.01.12.2012.
TRADE REFERENCES
· Gujarat Heavy Chemicals Limited
Hindustan
Unilever Limited
FIXED ASSETS:
· Land
Buildings
Office
building
Factory
building
Other
building
Plant
and equipment
Factory
equipments
Furniture
and fixtures
Vehicles
Motor
vehicles
Office
equipment
Other
equipments
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 : |
HTL |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
64 |
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.