MIRA INFORM REPORT
|
Report Date : |
23.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHANKAR PACKAGINGS LIMITED |
|
|
|
|
Formerly Known
As : |
SHANKAR PACKAGINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
303, Turf Estate, Dr. E. Moses Road, Shakti Mills Lane, Mumbai – 400
011, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.05.1985 |
|
|
|
|
Com. Reg. No.: |
11-036120 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.28.049
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25202MH1985PLC036120 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS01961B / MUMS40482B /
MUMS40819C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8076P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of FIBC Bags. |
|
|
|
|
No. of Employees
: |
Information declined by Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2911000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Overall financial position of the company appears to be sound. Trade relation are reported to be fair. Business is active. Payment terms
are reported to be regular and as per commitment. The company can be considered 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.
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 |
CRISIL |
|
Rating |
Long term rating : BBB+ |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
30.04.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating : A2 |
|
Rating Explanation |
Strong degree of safety and low credit risk. |
|
Date |
30.04.2013 |
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 DECLINED
Management non-cooperative
(Tel. No.: 91-22-24903236)
LOCATIONS
|
Registered Office/ Corporate Office : |
303, Turf Estate, Dr. E. Moses Road, Shakti Mills Lane, Mumbai – 400
011, Maharashtra, India |
|
Tel. No.: |
91-22-24903236/ 24903225/ 24903228 |
|
Fax No.: |
91-22-24903227 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory/ Sales Office : |
2-3-4-5-6, GIDC Estate,
Vaghodia, District Vadodara – 391 760, Gujarat, India |
|
Tel. No.: |
91-2668-262334/ 262434 |
|
Fax No.: |
91-2668-262833 |
|
E-Mail : |
|
|
|
|
|
Branch Office : |
(Hyderabad - Marketing) 508, Maheshwari Chambers, Somajiguda, Hyderabad – 500 082, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-40038828 |
DIRECTORS
AS ON 30.09.2013
|
|
|
|
Name : |
Mr. Gaj Singh Jodhpur |
|
Designation : |
Director |
|
Address : |
Umaid Bhavan Palace, Jodhpur – 342 006, Rajasthan, India |
|
Date of Birth/Age : |
13.01.1948 |
|
Qualification : |
MBA |
|
Date of Appointment : |
27.02.1988 |
|
DIN No.: |
00061278 |
|
|
|
|
Name : |
Mr. Govind Shankar Pandya |
|
Designation : |
Director |
|
Address : |
A-5, Garibdas CHSL, N.S. Road No.5, JVPD Scheme, Mumbai – 400 049,
Maharashtra, India |
|
Date of Birth/Age : |
19.03.1930 |
|
Qualification : |
CA |
|
Date of Appointment : |
01.04.1986 |
|
DIN No.: |
00316822 |
|
PAN No.: |
AADPP9794R |
|
|
|
|
Name : |
Mr. Praveen Shankar Pratap Shankar Pandya |
|
Designation : |
Director |
|
Address : |
132/133, 13th Floor, D Building, Petit Hall 66, Nepean Sea
Road, Mumbai – 400 006, Maharashtra, India |
|
Date of Birth/Age : |
04.10.1950 |
|
Qualification : |
CA |
|
Date of Appointment : |
06.05.1985 |
|
DIN No.: |
00316843 |
|
|
|
|
Name : |
Mr. Anandshankar Revashankar Pandya |
|
Designation : |
Director |
|
Address : |
1402, Pleasant Palace, 16, Narayan Dabholkar Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
11.04.1923 |
|
Qualification : |
BA |
|
Date of Appointment : |
06.05.1985 |
|
DIN No.: |
01163634 |
|
|
|
|
Name : |
Mr. Akshayshankar Pratapshankar Pandya |
|
Designation : |
Director |
|
Address : |
112-A, Paradise Apartments, 44, Nepean Sea Road, Mumbai – 400 006,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1965 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
21.09.2010 |
|
DIN No.: |
01557239 |
|
|
|
|
Name : |
Mr. Vikramshankar Govindshankar Pandya |
|
Designation : |
Managing Director |
|
Address : |
A/5, Garib CHSL, N.S. Road No.5, JVPD, Juhu, Mumbai – 400 049,
Maharashtra, India |
|
Date of Birth/Age : |
16.04.1961 |
|
Qualification : |
MBA |
|
Date of Appointment : |
09.04.2008 |
|
DIN No.: |
01595269 |
|
PAN No.: |
AGJPP9410C |
|
|
|
|
Name : |
Mr. Rajeevshankar Anandshankar Pandya |
|
Designation : |
Additional Director |
|
Address : |
A-273-283, Kalpataru Horizon Tower, 28th Floor, S.K. Ahire
Marg, Near Doordarshan, Worli, Mumbai – 400 018, Maharashtra, India |
|
Date of Birth/Age : |
02.11.1951 |
|
Date of Appointment : |
23.11.2013 |
|
DIN No.: |
01131603 |
KEY EXECUTIVES
|
Name : |
Mr. Pranab Lalit Mitra |
|
Designation : |
Secretary |
|
Address : |
302, Usha Sadan, Marol, Andheri (East), Mumbai – 400 059, Maharashtra,
India |
|
Date of Birth/Age : |
24.05.1960 |
|
Date of Appointment : |
01.01.1986 |
|
PAN No.: |
AAFPM3756L |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Praveen Shankar Pandya |
35547 |
|
Rajeev Shankar Pandya |
144500 |
|
Umaid Investment Company (Private) Limited, India |
690000 |
|
Govind Shankar Pandya |
147375 |
|
Vikram Shankar Pandya |
290905 |
|
Alka Rajeev Pandya |
31625 |
|
Rati Pandya |
1572 |
|
Aprna Kulkarni |
5750 |
|
Manoj Selot |
5750 |
|
Sangeeta Pandya |
46000 |
|
Namita Praveen Pandya |
29274 |
|
Urvashi B. Bhatt |
2185 |
|
Akshay Shankar Pandya |
34500 |
|
Ankur Jyoti Shankar Pandya |
120000 |
|
Saroj Pandya |
62360 |
|
Shivani Pandya |
34500 |
|
Shuchi Pandya |
34500 |
|
Avinash Pandya |
70437 |
|
Siddarth Pandya |
70437 |
|
Vivek Pandya |
65500 |
|
Shankar Securities (Private) Limited, India |
150000 |
|
Bulk Bags India Limited, India |
391100 |
|
Dolphin Investments Limited, Hong Kong |
150600 |
|
Jyotishankar A. Pandya, USA Nandini Jyotishankar Pandya, USA |
43125 |
|
Revashankar Gems Limited, India |
11250 |
|
Shankar Jewels Limited, India |
11250 |
|
Shankar Realty Private Limited, India |
22590 |
|
R.D. Pandya (HUF) |
650 |
|
Dhruv Akshay Pandya |
35938 |
|
Kashyap Akshay Pandya |
24438 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
13.00 |
|
Bodies
corporate |
|
21.00 |
|
Directors
or relatives of directors |
|
66.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of FIBC Bags. |
||||||||
|
|
|
||||||||
|
Products : |
|
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Woven Stocks |
MT |
15264 |
11909 |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by Management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State
Bank of India, Mid Corporate Group Industrial Finance Branch, Marble Arch,
Race Course Circle, Vadodara – 390 007, Gujarat, India ·
The
Hongkong and Shanghai Banking Corporation Limited, 52/60 Mahatma Gandhi Road,
Fort , Mumbai – 400 001, Maharashtra, India ·
Standard Chartered Bank, Abhijeet II, Ground
Floor, Near Mithakali Six Roads, Ahmedabad – 380 006, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajendra and Company Chartered Accountants |
|
Address : |
1311, Dalamal Tower, 211, Nariman Point, Mumbai – 400 021,
Maharashtra, India |
|
PAN No.: |
AAAFR1878D |
|
|
|
|
Other Related Parties : |
Umaid Investment Company Private Limited, India |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2804953 |
Equity Shares |
Rs.10/- each |
Rs.28.049
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 |
28.049 |
28.049 |
28.049 |
|
(b) Reserves & Surplus |
699.693 |
572.433 |
470.489 |
|
(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) |
727.742 |
600.482 |
498.538 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
149.174 |
168.067 |
108.384 |
|
(b) Deferred tax liabilities (Net) |
64.387 |
52.052 |
31.944 |
|
(c) Other long
term liabilities |
62.229 |
58.272 |
11.070 |
|
(d) Long-term
provisions |
12.009 |
9.999 |
10.276 |
|
Total Non-current
Liabilities (3) |
287.799 |
288.390 |
161.674 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
462.864 |
397.307 |
292.677 |
|
(b)
Trade payables |
114.798 |
89.692 |
75.183 |
|
(c)
Other current liabilities |
130.781 |
117.284 |
72.423 |
|
(d) Short-term
provisions |
73.344 |
45.584 |
43.376 |
|
Total Current
Liabilities (4) |
781.787 |
649.867 |
483.659 |
|
|
|
|
|
|
TOTAL |
1797.328 |
1538.739 |
1143.871 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
836.884 |
822.116 |
523.065 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
11.663 |
0.014 |
43.237 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
18.015 |
4.250 |
4.244 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
66.495 |
28.255 |
21.104 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
933.057 |
854.635 |
591.650 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
24.838 |
20.837 |
33.998 |
|
(b)
Inventories |
257.816 |
230.384 |
239.578 |
|
(c)
Trade receivables |
294.587 |
176.189 |
135.422 |
|
(d) Cash
and cash equivalents |
97.275 |
52.471 |
27.712 |
|
(e) Short-term
loans and advances |
138.416 |
172.462 |
111.892 |
|
(f)
Other current assets |
51.339 |
31.761 |
3.619 |
|
Total
Current Assets |
864.271 |
684.104 |
552.221 |
|
|
|
|
|
|
TOTAL |
1797.328 |
1538.739 |
1143.871 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
2411.866 |
2044.261 |
1609.516 |
|
|
|
Other Income |
10.402 |
6.461 |
5.995 |
|
|
|
TOTAL (A) |
2422.268 |
2050.722 |
1615.511 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
1260.311 |
1115.188 |
885.565 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
18.843 |
(33.271) |
(41.901) |
|
|
|
Employee related expenses |
158.561 |
112.311 |
92.613 |
|
|
|
Other expenses |
639.582 |
582.615 |
485.414 |
|
|
|
TOTAL (B) |
2077.297 |
1776.843 |
1421.691 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
344.971 |
273.879 |
193.820 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
49.905 |
43.132 |
37.872 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
295.066 |
230.747 |
155.948 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
68.325 |
51.976 |
35.115 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
226.741 |
178.771 |
120.833 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
74.046 |
54.426 |
34.378 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
152.695 |
124.345 |
86.455 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export of goods calculated on F.O.B. basis |
2091.550 |
1769.965 |
1402.700 |
|
|
TOTAL EARNINGS |
2091.550 |
1769.965 |
1402.700 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
NA |
NA |
160.272 |
|
|
|
Stores & Spares |
NA |
NA |
9.988 |
|
|
|
Plant and Machinery |
NA |
NA |
49.467 |
|
|
TOTAL IMPORTS |
NA |
NA |
219.727 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
48.28 |
39.25 |
30.82 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.30 |
6.06
|
5.35
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.40 |
8.75
|
7.51
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.83 |
11.65 |
11.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.30 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.84 |
0.94 |
0.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.05 |
1.14 |
LOCAL AGENCY FURTHER INFORMATION
Details of 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 |
65.823 |
71.317 |
34.590 |
|
Sr. No. |
Check List by Info
Agents |
Available in Report
(Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
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 |
-- |
|
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 |
10441432 |
23/07/2013 |
200,000,000.00 |
STANDARD CHARTERED
BANK |
ABHIJEET II
GROUND FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
B81401101 |
|
2 |
10436178 |
28/06/2013 |
50,000,000.00 |
STANDARD
CHARTERED BANK |
ABHIJEET II, GROUND
FLOOR, NEAR MITHAKALI SIX ROADS, AHMEDABAD, GUJARAT - 380006, INDIA |
B79332813 |
|
3 |
10062886 |
09/01/2014 * |
1,473,000,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT
|
B94021383 |
|
4 |
90210878 |
08/08/1996 * |
50,013,000.00 |
STATE BANK OF
INDIA |
COMERCIAL
BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
5 |
90215987 |
15/12/1995 |
50,013,000.00 |
STATE BANK OF INDIA |
COMMERCIAL
BRANCH, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
6 |
90212351 |
18/03/1993 |
4,348,000.00 |
STATE BANK OF
INDIA |
COMERCIAL
BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
7 |
90212300 |
30/11/2006 * |
300,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FIANANCE BRANCH, 'THE ARCADE', 2ND FLOOR, WORLD TRADE CENTRE,CUFFE PARADE,
MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
8 |
90236969 |
31/10/2005 * |
33,263,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, CUFFE PARADE, MUMBAI, |
- |
|
9 |
90212136 |
24/12/1990 |
13,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
10 |
90211883 |
13/02/1989 |
12,000,000.00 |
STATE BANK OF
INDIA |
COMERCIAL
BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, |
- |
|
11 |
90211685 |
08/09/1987 |
8,900,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL BRANCH,
JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
12 |
90211540 |
13/02/1989 * |
4,000,000.00 |
STATE BANK OF
INDIA |
COMERCIAL
BRANCH, JUSTICE GN VAIDAY MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
13 |
90214287 |
29/08/1986 |
4,000,000.00 |
STATE BANK OF
INDIA |
COMMERCIAL
BRANCH, JUSTICE G.N. VAIDYA MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
|
14 |
90214266 |
29/03/1986 |
5,000,000.00 |
STATE BANK OF
INDIA |
COMERCIAL BRANCH,
JUSTICE GN VAIDAY MARG, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
10.483 |
9.406 |
|
Total
|
10.483 |
9.406 |
OPERATING RESULTS AND BUSINESS:
The gross turnover
of the company for the year increased to Rs.2411.800 millions which is a
quantum jump of nearly 18% over the previous year. In tune with increased
sales, the profit after tax of the company has gone up from 111.000 millions to
135.400 millions. The total capacity of the company as on date is 17,875 MT per
annum. The actual capacity utilization have been 15,470 MT which reflects the
capacity utilization of up to 86.55%. The business environment of the company
continues to remain favorable barring developments in the global environment.
Note:
The Registered
address of the company has been shifted from A-4, Purshottam Buildings, Opera
House, Mumbai, Maharashtra, India to present address w.e.f. 13.04.2008.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant
and Machinery
·
Vehicles
·
Office
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.61.92 |
|
|
1 |
Rs.101.98 |
|
Euro |
1 |
Rs.83.93 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.