MIRA
INFORM REPORT
|
Report Date : |
03.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALFA |
|
|
|
|
Registered
Office : |
1-4 Uma Industrial Estate, Village Vasana - Lawa Taluka
Sanand, Ahmedabad, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.12.1991 |
|
|
|
|
Com. Reg. No.: |
04-016763 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.40.400 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
l20100gj1991plc016763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
ahma03990A |
|
|
|
|
PAN No.: [Permanent Account No.] |
aabca2800Q |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company's
shares are listed on the Stock Exchange. |
|
|
|
|
Line of Business
: |
Subject is engaged in Manufacturing of Laminate Sheets. |
|
|
|
|
No. of Employees
: |
24 (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 410000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating constrained by the modest scale of operations, working
capital incentive nature of operations and low profitability. 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
India’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn Rs.400000
million from the bandwidth auction set for January. The merger and acquisition
guidelines, cleared by a group of ministers, will be out before the auction
begins so that players can make informed decisions on the auctions.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
04.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities=A3 |
|
Rating Explanation |
Moderate degree of safety and high credit
risk. |
|
Date |
04.12.2013 |
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 DENIED
Management Non Co-operative (91-79-26754030)
LOCATIONS
|
Registered Office/Factory 1 : |
1-4 Uma Industrial Estate, Village Vasana - Lawa Taluka
Sanand, Ahmedabad – 380 006, Gujarat, India |
|
Tel. No.: |
91-79-23774206/23774134/23774135 |
|
Fax No.: |
91-79-23774134 |
|
E-Mail : |
info@alfaico.com |
|
Websites : |
www.alfaica.com |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
204-205, Uma industrial
Estate, Village Vasana-Lawa Taluka Sanand, Ahmedabad, |
|
|
|
|
Corporate Office : |
Alfa Pallazzo, Near Shivranjani Cross Roads, Satellite Road, Ahmedabad
– 380 015, Gujarat, India |
|
Tel. No.: |
91-79-26754030 / 26754031 |
|
Fax No.: |
91-79-26754040 |
|
E-Mail : |
rt@alfaica.com |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Shyam Sunder Tibrewal |
|
Designation : |
Chairman cum Director |
|
Address : |
1 Sanidhya Bunglow, Near Nishant Vibhag – 1, 135 Ft. Ring Road,
Satelite, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
01.07.1952 |
|
Date of Appointment : |
31.07.2008 |
|
DIN No.: |
00500621 |
|
|
|
|
Name : |
Mr. Rajendra Tikmani |
|
Designation : |
Managing Director |
|
Address : |
3 Navyug Society, Ambewadi, Ahmedabad – 380015, Gujarat, India, India |
|
Date of Birth/Age : |
02.10.1948 |
|
Date of Appointment : |
11.12.1991 |
|
DIN No.: |
00333842 |
|
|
|
|
Name : |
Mr. Inderchand G. Nahta |
|
Designation : |
Director |
|
Address : |
12, Amrashirish Bunglows, Opposite Karnavati Club, S.G. Road,
Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
08.12.1952 |
|
Date of Appointment : |
20.06.2011 |
|
DIN No.: |
03565091 |
|
|
|
|
Name : |
Mr. Rishi Rajendra Tikmani |
|
Designation : |
Director |
|
Address : |
3 Navyug Society, Ambewadi, Ahmedabad – 380015, Gujarat, India, India |
|
Date of Birth/Age : |
09.08.1981 |
|
Date of Appointment : |
14.08.2006 |
|
DIN No.: |
00638644 |
SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
999576 |
24.74 |
|
|
555139 |
13.74 |
|
|
555139 |
13.74 |
|
|
1554715 |
38.48 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
1554715 |
38.48 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
2100 |
0.05 |
|
|
2100 |
0.05 |
|
|
|
|
|
|
409263 |
10.13 |
|
|
|
|
|
|
1079893 |
26.73 |
|
|
979976 |
24.26 |
|
|
14053 |
0.35 |
|
|
13693 |
0.34 |
|
|
360 |
0.01 |
|
|
2483185 |
61.46 |
|
Total Public shareholding (B) |
2485285 |
61.52 |
|
Total (A)+(B) |
4040000 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
4040000 |
0.00 |
%20LIMITED%20-%20249096_MIRA%2003-Jan-2014_files/image002.gif){kind=small}
(1) Indian%20LIMITED%20-%20249096_MIRA%2003-Jan-2014_files/image004.gif){kind=small}
%20LIMITED%20-%20249096_MIRA%2003-Jan-2014_files/image005.gif){kind=small}
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Rajendra Tikmani |
9,99,576 |
24.74 |
|
Rajendra Tikmani |
2,09,039 |
5.17 |
|
Rishi Tikmani |
2,08,800 |
5.17 |
|
Vimla Tikmani |
58,000 |
1.44 |
|
Pooja Tikmani |
40,000 |
0.99 |
|
Savita Gupta |
39,300 |
0.97 |
|
Total |
15,54,715 |
38.48 |
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Public and holding
more than 1% of the total number of shares
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Haresh Mehta |
252400 |
6.25 |
|
Vasant Rana |
230000 |
5.69 |
|
Ankit Financial Services Limited |
200000 |
4.95 |
|
Indu Bhandari |
200000 |
4.95 |
|
Karishma Finvest Private Limited |
199600 |
4.94 |
|
Parmeshwar Lal Jangid |
100000 |
2.48 |
|
Jugal Maheshwari |
60500 |
1.50 |
|
Gunjan Gupta |
40500 |
1.00 |
|
Total |
1283000 |
31.76 |
Shareholding of securities (including shares, warrants, convertible
securities) of persons (together with PAC) belonging to the category “Public”
and holding more than 5% of the total number of shares of the company
|
Category of Shareholders |
No. of Shares |
Percentage
of Holding |
|
Haresh Mehta |
252400 |
6.25 |
|
Vasant Rana |
230000 |
5.69 |
|
Total |
482400 |
11.94 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of Laminate Sheets. |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS (As on 31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Unit- I Laminate Sheets |
No. |
NA |
1500000 |
680000 |
|
Unit-II Laminate Sheets |
No |
NA |
600000 |
265000 |
GENERAL INFORMATION
|
No. of Employees : |
24 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
State Bank of India, Overseas Branch, Ahmedabad, Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
NOTE: All
secured loans are secured by hypothecation of all present and future goods,
book debts and other movable assets and equitable mortgage of immovable
properties and personal guarantee of promoter Directors. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
O P Bhandari and Company Chartered Accountants |
|
Address : |
30 Omkar House, Nera Swastik Char Rasta, C. G. Road, navrungpura,
Ahmedabad – 380009, Gujarat, India |
|
PAN No.: |
AAAFO6762H |
|
|
|
|
Associates : |
·
Tikmani Corporation ·
Rajendra Enterprise |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
250000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.25.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.75.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4040000 |
Equity Shares |
Rs.10/- each |
Rs.40.400 Millions |
|
|
|
|
|
Reconciliation of
shares:
|
Equity Shares |
Number
of Shares |
|
Opening Share Capital |
4040000 |
|
Less: Redemption of Preference Shares |
- |
|
Closing Share
Capital |
4040000 |
List of Share Holders Having 5% or More Shares:
|
Name of
Shareholder |
Number
of Shares |
% holding |
|
Rajendra Tikmani |
207755 |
5.14 |
|
Rishi Tikmani |
208800 |
5.17 |
|
Rajendra Hemraj Tikmani (HUF) |
998358 |
24.71 |
|
Haresh Mehta |
252400 |
6.25 |
|
Vasant Rana |
230000 |
5.69 |
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 |
40.400 |
46.400 |
46.400 |
|
(b) Reserves & Surplus |
63.405 |
58.387 |
56.422 |
|
(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) |
103.805 |
104.787 |
102.822 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
11.110 |
12.434 |
14.140 |
|
(c) Other long term liabilities |
53.833 |
49.807 |
42.709 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
64.943 |
62.241 |
56.849 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
60.514 |
103.005 |
103.890 |
|
(b) Trade payables |
57.655 |
37.563 |
38.590 |
|
(c) Other current
liabilities |
1.748 |
1.331 |
0.620 |
|
(d) Short-term provisions |
4.960 |
3.006 |
2.161 |
|
Total Current Liabilities (4) |
124.877 |
144.905 |
145.261 |
|
|
|
|
|
|
TOTAL |
293.625 |
311.933 |
304.932 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
82.511 |
84.999 |
92.363 |
|
(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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.599 |
2.018 |
1.718 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
84.110 |
87.017 |
94.081 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
123.320 |
150.764 |
139.183 |
|
(c) Trade receivables |
63.571 |
56.241 |
56.811 |
|
(d) Cash and cash
equivalents |
0.241 |
2.478 |
2.030 |
|
(e) Short-term loans and
advances |
22.383 |
15.433 |
12.827 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
209.515 |
224.916 |
210.851 |
|
|
|
|
|
|
TOTAL |
293.625 |
311.933 |
304.932 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
570.177 |
449.235 |
419.324 |
|
|
|
Other Income |
0.666 |
2.112 |
5.356 |
|
|
|
TOTAL (A) |
570.843 |
451.347 |
424.680 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
413.456 |
338.868 |
324.265 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
9.162 |
(5.177) |
(7.193) |
|
|
|
Employee benefit expenses |
6.036 |
3.647 |
3.404 |
|
|
|
Other Expenses |
107.820 |
82.626 |
76.669 |
|
|
|
TOTAL (B) |
536.474 |
419.964 |
397.145 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.369 |
31.383 |
27.535 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
15.091 |
17.823 |
14.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.278 |
13.560 |
13.422 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
10.537 |
10.293 |
10.311 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
8.741 |
3.267 |
3.111 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.724 |
1.301 |
1.024 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.017 |
1.966 |
2.087 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
477.653 |
270.799 |
323.482 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
136.905 |
60.990 |
133.957 |
|
|
|
Capital Goods |
1.038 |
0.539 |
0.000 |
|
|
TOTAL IMPORTS |
137.943 |
159.041 |
133.957 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.24 |
0.49 |
0.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.88
|
0.44
|
0.49 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.53
|
0.73
|
0.74 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.99
|
1.44
|
1.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.03
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.58
|
0.98
|
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.68
|
1.55
|
1.45 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT IS NOT AVAILABLE
|
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 |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
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 |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
YEAR
IN PROSPECT
WORLD
ECONOMY:
Global
economic scenario continued to be weak in FY 2012-13, though downside risks
have reduced, with a mild recovery in US economy, as well as avoidance of a full
blown Euro crisis. The US Fed Reserve’s aggressive stance of pumping in
trillions of dollars, through purchase of bonds, which has come to be known as
Quantitative Easing, helped in maintaining liquidity in global markets. Though
the US economy gained traction in the year gone by, but the same could not be
said about the Eurozone, where a further crisis was averted through a resolve
of the stakeholders to strengthen an integrated Eurozone. The cooling down of
Chinese economy, added to global concerns. Growth in emerging market economies
like India was low, but the relative softening in commodity prices, eased the
impact. Short-term risks emanating from the Euro zone crisis and a slowdown in
Chinese and other emerging market economies have diminished, but not
disappeared.
With
the continued pressure on global economy, enhanced international policy
coordination is needed to mitigate negative policy spillovers and foster robust
and balanced growth.
INDIAN
ECONOMY:
Indian
economy grew by 5 % during the year 2012-13 making it one of the worst years in
the last decade. The manufacturing sector put up a dismal show with 1 % growth
compared to 2.7 % in the previous year. There was a slowdown in Agricultural
sector also, with scanty rainfall affecting the Rabi sowing season, though
Kharif crop was benefitted by a late revival in monsoon. This resulted in an
overall decline in food grain production to 255.4 million tons from 259.3
million tons in the previous year.
Though
headline inflation was under control and decelerated to 4.9 % in April 2013,
but the ballooning of Current account deficit to 6.7 % of GDP in the third
quarter of FY 13, restricted the headroom available to Reserve Bank of India,
for any significant reduction in policy rates. Heavy imports of Gold and
slippages in exports contributed to the widening of Current Account deficit.
The Government has endeavored to control the situation through a cut in crude
oil subsidy, by freeing diesel prices, and the RBI placing restrictions on Gold
imports. But the impact of these measures may be negligible, in the absence of
long term economic reforms which can attract long term foreign investment in
infrastructure projects. But even with these weak macro factors, India
continued to one of the fastest growing economies of the world, holding
significant interest for the Global investors. This can be gauged from the fact
that during FY 13, Portfolio capital inflows increased to US D 27.5 billion
compared to USD 16.6 billion in FY 12 and correspondingly, Net FDI inflows
increased to USD 22.9 billion as compared to USD 21.8 billion in the previous
year.
Although
RBI have eased the monetary policy somewhat with small relaxations in Statutory
Liquidity Ratio (SLR) and Cash Reserve Requirement (CRR) to be maintained by Banks,
but this has not resulted in any significant reduction in interest rates and
there is a continuous clamour from the business community for relief in this
area.
Despite
un-certainties and weakness in the overall economic scenario, subject has
performed very well in the year gone by with sales turnover going up by 32% in
FY 13 compared to the previous year, and a corresponding increase of 37% in
exports during this period. This has been possible due to sustained efforts of
the management in holding on to
the existing markets and penetrating new
markets in Australia and the European continent.
INDUSTRY
STRUCTURE AND DEVELOPMENT:
The
Indian Decorative Laminate industry is dominated by unorganized sector with a
few players in the organized sector. The organized sector has been able to
capture a majority share in the export market driven by sustained quality
consciousness. Current market trends show a slow but steady recovery in
European and American economies which are the main overseas markets for the Company’s
products.
OUTLOOK:
Exports
shall remain the core growth area and a lot depends on overseas economic
recovery. In the domestic sector, the outlook seems to be stable in long term,
with the economy expected to perform better in the years to come. Though
inflation is a worry which may dampen real spends in the economy, but an
emphasis on infrastructure and housing shall push the demand for company’s
products.
LITIGATION
DETAILS:
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
%20LIMITED%20-%20249096_MIRA%2003-Jan-2014_files/image007.gif){kind=small}
1UNSECURED LOAN:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Others |
0.000 |
4.650 |
|
|
|
|
|
Total |
0.000 |
4.650 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
90103434 |
29/11/2007
* |
150,000,000.00 |
STATE
BANK OF INDIA |
MCLAU,
4TH FLOOR, LHO BUILDING, BHADRA, AHMEDABAD – 380 001, GUJARAT, INDIA |
A28120426 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Guest House
·
plant and Equipment
·
Furniture and Fixtures
·
Vehicle
·
S. S. Plates
·
Office Equipments
·
Printing Roll
·
Computer
·
Air Conditioners
·
Electric Fittings
·
Motor Cars
·
Laboratory Equipment
·
Lift
·
Television
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.61.90 |
|
|
1 |
Rs.102.74 |
|
Euro |
1 |
Rs.85.16 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--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.