.
MIRA
INFORM REPORT
|
Report Date : |
28.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
UMANG BOARDS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
7-B, Umag House, Bharat Mata Path, Jamna Lal Bajaj Marg,
C-Scheme, Jaipur
– 302001, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.02.1999 |
|
|
|
|
Com. Reg. No.: |
17-015397 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 36.368 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20212RJ1999PTC015397 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRU00237G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU3931H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Electric Grade Pre Compressed Board. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 550000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Company has incurrecd loss from its operation in the year 2013. However, trade relation are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with great caution. |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
The services sector, the largest contributor to India’s GDP, contracted
for the sixth consecutive month in December, as orders dipped. However, hiring has
risen. Direct tax collections rose 12.3 % during the April – December
period of the current financial year. The government has decided to
retain 100 per cent foreign direct investment in both greenfield (new) and
brown field (existing) pharmaceutical companies, despite concerns over genetic
drugs going out of production, if multi-national companies take over domestic
ones. In M&A deals, a non compete clause would not be allowed, except in
special circumstances. The Department of Industrial Policy and Promotion plans
to release the next edition of its consolidated foreign direct investment
policy document on March 31, incorporating changes made in the past year. DIPP
compiles all policies related to India’s FDI regime into a single document to
make it easy for investors to understand. 185 million estimated number of
mobile internet users in India by June 2014, according to a report by the
Internet & Mobile Association of India and IMRB International. India
had 110 million mobile internet users with 25 million in rural areas. $3.77 tn
estimated global IT spending in 2014, according to research firm Gartner Inc.
The growth forecast for this year is cut to 3.1 %from the earlier estimate of
3.5 %. The spending growth forecast for telecom services – a segment that
accounts for more than 40 % at total IT spending – from 1.9 per cent to 1.2 per
cent is the main reason for this overall IT cut. A Reserve Bank of India
committee has recommended setting up a special category of lenders who would
cater to small businesses and households, to expand the number of customers
with access to banking services. These banks would focus on providing payment
services and deposit products. Indian banks want the free use of
automated teller machines to be capped at five transactions in a month
including that of the bank in which the account is active. This follows state
government order to banks to install security guards at ATM booths after a
woman banker was assaulted in Bangalore. The government is likely to present a
vote on Account in mid-February. The annual Economic Survey will be tabled
later in Parliament along with the full Budget. A full Budget for 2014/15 is
likely to be present in July by the new government formed after the General
Election. The government will soon launch an internet spy system, called Netra,
to detect malafide messages. Security agency will deploy the system to capture
dubious voice traffic on applications such as Skype and Google Talk, as well as
tweeters.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: “B-” |
|
Rating Explanation |
Risk prone credit quality and very high credit risk. |
|
Date |
31.05.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
31.05.2013 |
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 (GENERAL DETAILS)
|
Name : |
Mr. Gopal Sharma |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-141-2379414 |
|
Date : |
27.01.2014 |
LOCATIONS
|
Registered Office : |
7-B, Umag House, Bharat Mata Path, Jamna Lal Bajaj Marg,
C-Scheme, Jaipur
– 302001, Rajasthan, India |
|
Tel. No. : |
91-141-2379414/ 2362093/ 3258174/ 3261978 |
|
Fax No. : |
91-141-2366626 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
A-27, RIICO Industrial Area, Jaipur – 303801, Rajasthan, India |
|
Tel. No. : |
91-1423-320044/ 513065 |
|
Fax No. : |
91-1423-265763 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Alok Kumar Dhanuka |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.10, Shri Ram Ppura Colony, Civil Lines, Jaipur – 302006,
Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.02.1999 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00690122 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Anup Kumar Dhanuka |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Managing director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.10, Shri Ram Ppura Colony, Civil Lines, Jaipur – 302006,
Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.02.1999 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00690152 |
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|
Other Directorship :
|
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Bhagwati Devi Dhanuka |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.10, Shri Ram Ppura Colony, Civil Lines, Jaipur – 302006,
Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.12.1999 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00690214 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
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|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Shubh Karan Dhanuka |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Plot No.10, Shri Ram Ppura Colony, Civil Lines, Jaipur – 302006,
Rajasthan, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
18.02.1999 |
||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01161581 |
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|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Gopal Sharma |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shubh Karan Dhanuka |
|
323690 |
|
Anup Kumar Dhanuka |
|
303586 |
|
Alok Kumar Dhanuka |
|
269600 |
|
Reena Dhanuka |
|
9100 |
|
Nisha Dhanuka |
|
54000 |
|
Bhagwati Devi Dhanuka |
|
67000 |
|
K.R. Dhanuka and Sons |
|
100000 |
|
Umang Business Ventures Private Limited, India |
|
505490 |
|
Saptarung Securities Private Limited, India |
|
43000 |
|
Narmada Publishing House India (Private) Limited, India |
|
63000 |
|
Uptrend Securities Private Limited, India |
|
92000 |
|
Narmada Prakashan (Private) Limited, India |
|
80000 |
|
Keyscrip Investments and Trading Private Limited, India |
|
54000 |
|
Narmada Appliances (Private) Limited, India |
|
108000 |
|
S.K. Dhanuka HUF |
|
19000 |
|
Anup Dhanuka HUF |
|
19000 |
|
Alok Dhanuka HUF |
|
21200 |
|
Anil Kumar L. Jain |
|
57092 |
|
Suman A. Jain |
|
75256 |
|
Basant Devi L. Jain |
|
62953 |
|
Laxmi Lal J. Jain HUF |
|
8700 |
|
Ashok Kumar B. Jain |
|
600 |
|
Advance Suppliers Private Limited, India |
|
10599 |
|
Newage Import Private Limited, India |
|
14364 |
|
Diagram Tracom Private Limited, India |
|
41666 |
|
Umang Corporate Park Private Limited, India |
|
641666 |
|
Umang Boards (Mumbai) Private Limited, India |
|
592208 |
|
Total |
|
3636770 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
61.75 |
|
Directors or relatives of Directors |
32.62 |
|
Other top fifty shareholders |
5.63 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Electric Grade Pre Compressed Board. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· UAE Bangkok |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Canada UAE |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· Kotak Mahindra Prime Limited, 36-38a Nariman Bhavan, 227, Nariman Point, Mumbai - 400021, Maharashtra, India HDFC Bank Limited, HDFC Bank Housesenapati Bapat Marg,
Lower Parel (West), Mumbai - 400013, Maharashtra, India State Bank of Bikaner And Jaipur, Industrial Finance
Branch, Tambi Tower, S.C. Road, Jaipur - 302001, Rajasthan, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
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Facilities : |
NOTE: LONG TERM
BORROWINGS Term loan from SBBJ is secured by first charge over entire fixed and current assets and equitable mortgage of land and building of the company. Term loans are further secured by personal guarantee fo directors of the company and corporate guarantee of other company. Vehicle loans are secured by hypothecation of respective vehicles. The company does not have any continuing default in repayment of loans and interest as on the reporting date. The deferred sales tax liability represents the sales tax liability deferred under sales tax deferment scheme, 1998 of the state Government. The Deferred Sales Tax liability scheme will expire either on the availment of credit of Rs. 17.272 Millions or on 18th September, 2013, whichever is earlier. SHORT TERM
BORROWINGS Working capital loan is secured by first charge over entire fixed and current assets and equitable mortgage of land and building of the company. Working capital loan is further secured by personal guarantee of directors of the company and corporate guarantee of the company. Margin on buyer’s credit are secured by pledge of FDR. |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
BMW India Financial Services Private Limited, Tower C, 14th Floor, Building No. 10, DLF Cyber City, Phase-II, Gurgaon - 122002, Haryana, India |
|
|
|
|
Auditors : |
|
|
Name : |
P.C Modi and Company Chartered Accountants |
|
Address : |
"Shree Dham", R-20, Yudhister Marg, C-Scheme, Jaipur – 302005, Rajasthan, India |
|
Tel. No. : |
91-141-2222735/ 2228503 |
|
Fax No. : |
91-141-2222697 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFP9494P |
|
|
|
|
Associates : |
· Anup Insulation Private Limited Umang Corporate Park Private Limited Umang Business Ventures Private Limited Umang Boards (Bkk.) Company Limited Umang Boards (Mumbai) Private Limited |
|
|
|
|
Joint Venture : |
Umang Boards (Thailand) Company Limited |
|
|
|
|
Other Related Parties : |
· Anup Electricals Alok Enterprises Dhanuka Charitable Trust |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 40.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,636,770 |
Equity Shares |
Rs.10/- each |
Rs. 36.368 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 |
36.368 |
31.759 |
28.426 |
|
(b) Reserves & Surplus |
101.754 |
116.508 |
121.386 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2)
Share Application money pending allotment |
0.100 |
7.800 |
4.550 |
|
Total
Shareholders’ Funds (1) + (2) |
138.222 |
156.067 |
154.362 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
173.922 |
181.876 |
154.741 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
5.015 |
|
(c) Other long term liabilities |
0.000 |
1.000 |
0.000 |
|
(d) long-term provisions |
0.568 |
0.471 |
0.261 |
|
Total Non-current Liabilities (3) |
174.490 |
183.347 |
160.017 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
93.279 |
104.767 |
50.884 |
|
(b) Trade payables |
23.806 |
4.393 |
21.700 |
|
(c) Other current
liabilities |
27.700 |
36.244 |
33.678 |
|
(d) Short-term provisions |
7.957 |
5.625 |
0.126 |
|
Total Current Liabilities (4) |
152.742 |
151.029 |
106.388 |
|
|
|
|
|
|
TOTAL |
465.454 |
490.443 |
420.767 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
251.109 |
267.451 |
262.277 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
11.706 |
0.000 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
10.043 |
10.043 |
10.043 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
6.296 |
6.371 |
6.291 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
267.448 |
295.571 |
278.611 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
105.279 |
88.331 |
54.946 |
|
(c) Trade receivables |
78.340 |
86.211 |
39.341 |
|
(d) Cash and cash
equivalents |
7.883 |
4.879 |
7.888 |
|
(e) Short-term loans and
advances |
6.152 |
14.836 |
39.742 |
|
(f) Other current assets |
0.352 |
0.615 |
0.239 |
|
Total Current Assets |
198.006 |
194.872 |
142.156 |
|
|
|
|
|
|
TOTAL |
465.454 |
490.443 |
420.767 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
153.595 |
111.817 |
89.597 |
|
|
|
Other Income |
NA |
5.820 |
5.279 |
|
|
|
TOTAL (A) |
NA |
117.637 |
94.876 |
|
|
|
|
|
|
|
|
Less |
|
|
|
|
|
|
|
|
Cost of materials consumed |
|
65.197 |
34.132 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
|
(63.327) |
(7.241) |
|
|
|
Employee benefit expenses |
|
15.810 |
9.481 |
|
|
|
Other Expenses |
|
55.448 |
29.236 |
|
|
|
TOTAL (B) |
NA |
73.128 |
65.608 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
42.019 |
44.509 |
29.268 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
35.086 |
32.813 |
10.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.933 |
11.696 |
18.560 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
38.278 |
38.256 |
28.353 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(31.345) |
(26.560) |
(9.793) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.000 |
(5.015) |
2.919 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
(31.345) |
(21.545) |
(12.712) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Sales |
12.720 |
8.486 |
8.488 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
50.148 |
33.440 |
69.049 |
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(8.62) |
(6.97) |
(4.84) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA
|
(18.31) |
(13.40) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(20.41)
|
(23.75) |
(10.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.88)
|
(5.67) |
(2.38) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.23)
|
(0.17) |
(0.06) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.93
|
1.84 |
1.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.30
|
1.29 |
1.34 |
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 |
No |
|
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 |
No |
|
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 |
10447007 |
16/08/2013 |
2,380,000.00 |
BMW INDIA FINANCIAL SERVICES PRIVATE LIMITED |
TOWER C, 14TH FLOOR, BUILDING NO. 10, DLF CYBER CITY, PHASE-II, GURGAON - 122002, HARYANA, INDIA |
B84012822 |
|
2 |
10372731 |
30/07/2012 |
1,190,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B56443344 |
|
3 |
10280925 |
23/04/2011 |
55,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL FINANCE BRANCH, TAMBI TOWER, S.C. ROAD, JAIPUR - 302001, RAJASTHAN, INDIA |
B10752020 |
|
4 |
10408514 |
19/05/2009 |
653,000.00 |
KOTAK MAHINDRA PRIME LIMITED |
36-38A NARIMAN BHAVAN, 227, NARIMAN POINT, MUMBAI - 400021, MAHARASHTRA, INDIA |
B36144236 |
|
5 |
10115928 |
16/06/2010 * |
180,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL FINANCE BRANCH, TAMBI TOWER, S.C. ROAD, JAIPUR - 302001, RAJASTHAN, INDIA |
A89229066 |
|
6 |
10021498 |
23/04/2011 * |
131,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
INDUSTRIAL FINANCE BRANCH, TAMBI TOWER, S.C. ROAD, JAIPUR - 302001, RAJASTHAN, INDIA |
B10751204 |
|
7 |
10021502 |
23/09/2006 |
17,122,000.00 |
STATE BANK OF BIKANER ND JAIPUR |
INDUSTRIAL FINANCE BRANCH, TAMBI TOWER, S.C. ROAD, JAIPUR - 302001, RAJASTHAN, INDIA |
A05281472 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Loan from
Related Party |
|
|
|
Loan from Anup Insulation Private Limited |
3.644 |
1.200 |
|
Total |
3.644 |
1.200 |
ECONOMIC AND PERFORMANCE REVIEW
During the year, the net turnover of the company increased from 111.817 Millions to 153.595 Millions. The Directors are making constant endeavors to improve sales of the company.
The heavy interest burden is a cause of concern for the company. The company is exploring the ways and means for reducing the interest burden and is also in advance stage of negotiations with the existing bankers for renegotiating the terms.
The company has installed capacity of 4660 MT of plant. The company has also been able to develop value added products in the form of Machine and Moulded Components, epoxy Dotted Paper, Crepe, Kraft Paper (Slitted) etc. leading to forward integration.
In view of the above, the directors are very much hopeful of achieving excellent growth in the years to come.
FUTURE PROSPECT
The government of India’s ambitious plan of electrifying each and every village of rural area will boost the demand of items related to power distribution industry. The reforms in the power sector are overdue with the number of nuclear power stations going to be operational in the near future. The power sector reforms look inevitable.
The company is now fully equipped to avail the opportunity. In view of these developments, the directors foresee a long lasting fast track growth for the company in the years to come.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bank Guarantee |
4.607 |
4.607 |
|
FLC Outstanding |
19.092 |
32.603 |
|
Total |
23.699 |
37.210 |
FIXED ASSETS
· Leasehold Land
Buildings
Plant
and Machinery
Vehicles
Furniture
and Fixtures
Computer
and Softwares
Office
Equipment
Misc.
Fixed Assets
Borewell
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners, controlling
shareholders or senior officers as terrorist or terrorist organization or whom
notice had been received that all financial transactions involving their assets
have been blocked or convicted, found guilty or against whom a judgement or
order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
26 |
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.