MIRA INFORM REPORT
|
Report Date : |
02.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
STRATA GEOSYSTEMS (INDIA) PRIVATE LIMITED |
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Registered
Office : |
317, Tantia Jogani Industrial Premises, 3rd Floor, J R Boricha
Marg, Lower Parel, Mumbai – 400011, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
15.09.2004 |
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Com. Reg. No.: |
11-148625 |
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Capital Investment
/ Paid-up Capital : |
Rs.24.410
Millions |
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CIN No.: [Company Identification
No.] |
U17299MH2004PTC148625 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMS44304B |
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PAN No.: [Permanent Account No.] |
AAICS3717K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Marketing of 'Geotextile' Products. |
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No. of Employees
: |
Information denied 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 |
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Maximum Credit Limit : |
USD 770000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems some sip in the profit of the company during 2013 however net
worth of the company is good. General financial position of the company is
decent. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually correct 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst
slowdown in more than a quarter of a century. The data was below an official estimate
of 4.9 % annual growth and compared with 4.5 % in the last fiscal year.
However, the current account deficit narrowed sharply to $ 32.4 billion at 1.7
% of gross domestic product, in 2013/14 from a record high of $ 98.8 billion or
4.7 %, the year before.A sharp fall in gold imports due to restrictions on
overseas purchases and muted import of capital goods helped shrink the current
account deficit.
Online retailer
Flipkart has acquired fashion portal Myntra as it prepares to battle with the rapidly
expanding India arm of the global e-commerce giant Amazon. The company raised $
210 million from Russian Investment firm DST Global which has also invested in
companies like Facebook, Twitter and Alibaba Group.
General Motors will
start exporting vehicles from its Talegaon plant near Pune in the second half
of 2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value shot up 40 % in a year to
$ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the
third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the
company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went
on to lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala Police had
arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities = BBB+ |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
11.11.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3+ |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
11.11.2013 |
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 DENIED
Management Non-Cooperative (Tel No.: 91-22-40635100)
LOCATIONS
|
Registered
Office / Head Office : |
317, Tantia Jogani Industrial Premises, 3rd Floor, J R
Boricha Marg, Lower Parel, Mumbai – 400011, Maharashtra, India |
|
Tel. No.: |
91-22-40635100 / 23016906 |
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Fax No.: |
91-22-40635199 / 23018114 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Corporate
Office: |
416, Maheshwari Chambers, 6-3-650, Somajiguda, Hyderabad 500082,
Andhra Pradesh, India |
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Tel. No.: |
91-40-40037921 |
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Factory : |
Plot No. 62/64, Silver Industrial Estate, Bimpore, Daman, India |
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Area : |
3700 sq. ft. |
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Location : |
Owned |
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Sales Office : |
Located At:
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DIRECTORS
As on 26.09.2013
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Name : |
Mr. Ashok Bhawnani |
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Designation : |
Chairman |
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Address : |
6 Park View, Little Gibbs Road, Malabar Hill, Mumbai – 400006,
Maharashtra, India |
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Date of Birth/Age : |
12.03.1951 |
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Date of Appointment : |
15.09.2004 |
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DIN No.: |
00058344 |
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Other Directorship:
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Name : |
Mr. Narendra K. Dalmia |
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Designation : |
Director |
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Address : |
603/604, Highland Park – A, Off. Link Road, Andheri (W), Mumbai –
400053, Maharashtra, India |
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Date of Birth/Age : |
05.01.1955 |
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Date of Appointment : |
18.10.2007 |
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DIN No.: |
00071559 |
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Other Directorship:
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Name : |
Mr. Harold Webster Hill JR |
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Designation : |
Director |
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Address : |
2911, Forst Dale Dr Burlington – 27215, USA |
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Date of Birth/Age : |
07.09.1960 |
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Date of Appointment : |
24.09.2008 |
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DIN No.: |
02457865 |
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Other Directorship:
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Name : |
Mr. Chip Fuller Alvin |
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Designation : |
Director |
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Address : |
3150 Rockport Dr Cumming, Georgia, Georgia 30041, USA |
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Date of Birth/Age : |
20.02.1951 |
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Date of Appointment : |
25.10.2004 |
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DIN No.: |
02457998 |
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MAJOR SHAREHOLDERS
As on 26.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Ashok M. Bhawnani |
|
126119 |
|
Omnitex Industries (India) Limited, India |
|
720098 |
|
Strata Systems Inc, USA |
|
1220520 |
|
Sun-N-Sand Investment and Finance Company Private Limited, India |
|
108500 |
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Mr. Narendra M. Dalmia |
|
60204 |
|
Ms. Manorma N. Dalmia |
|
46500 |
|
Mr. Gautam M. Dalmia |
|
1000 |
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Ms. Shaily N. Dalmia |
|
1000 |
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Ms. Vidyadevi M. Dalmia |
|
1000 |
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Mr. Vijay Kumar M. Dalmia |
|
50000 |
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Mr. Neeraj V. Dalmia |
|
1000 |
|
Ms. Sangeeta V. Dalmia |
|
1000 |
|
Mr. C V Kanade |
|
12205 |
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Mr. J Ramakrishnan |
|
3045 |
|
Mr. Rajesh S. Saraf |
|
10 |
|
Nirmal Manju Ketan |
|
10 |
|
Kiron G. Advani |
|
44414 |
|
Mr. Gul R.Advani |
|
44415 |
|
Total |
|
2441040 |
Equity Share Break up (Percentage of Total Equity)
As on 26.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
33.94 |
|
Directors or relatives of Directors |
15.44 |
|
Other top fifty shareholders |
0.62 |
|
Total |
100.00 |
%20PRIVATE%20LIMITED%20-%20274521%2002-Jul-2014_files/image001.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Marketing of 'Geotextile' Products. |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
Information denied by management / (Approximately) |
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Bankers : |
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Facilities : |
Long Term Borrowings 1.1
First Exclusive charge by way of hypothecation of
the company's entire stood and such other movable including book debts,
outstanding monies, receivables both present and future 1.2
First and Exclusive charge in favor of the Bank
by way of equitable Mortgage of Land and Building
located at Silver Industrial Estate, Bhimpore, Daman 1.3
Firm charge on all Paint and Machinery
and other Fixed Assets of the
company both present and future 1.4
Firm and Exclusive
charge in favor of the Bank by way of equitable mortgage of Office Premises at Tantia Jogani
Industrial Premires J. R. Boriba Mark
Lower Parel, Murnbai-400011 in the name of Omnitex Industries (India)
limited 2 Both the loans
have been guaranteed by a Direct and Omnitex Industries
(India) limited 3
Both the above
loan carry an interest rate of IClCl Bank PLR Rate + 3.75% which
subject to periodical revision 4
Term Loan1
is repayable in quarterly installment of Rs.2.500 Millions each and the last installment falls due in May
2014 5
Term Loan 2 is repayable in quarterly
installments of Rs.2.168
Millions each and the last installment falls due in December 2016 Short
Term Borrowings 1.3
First Exclusive charge by way of hypothecation of
the company's entire stood and such other movable including book debts,
outstanding monies, receivables both present and future. 1.2
First and Exclusive charge in favor of the Bank
by way of equitable Mortgage of Land and Building
located at Silver Industrial Estate, Bhimpore, Daman 1.3
Firm charge on all Paint and Machinery
and other Fixed Assets of the
company both present and future 1.4
Firm and Exclusive
charge in favor of the Bank by way of equitable mortgage of Office Premises at Tantia Jogani Industrial
Premires J. R. Boriba Mark Lower Parel,
Murnbai-400011 in the name of Omnitex Industries (India) limited 2 Both the loans
have been guaranteed by a Direct and Omnitex Industries
(India) limited 3
Both the above
loan carry an interest rate of IClCl Bank PLR Rate + 3.75% which
subject to periodical revision |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Tembey and Mhatre Chartered Accountants |
|
Address : |
120, Udyog Mandir No.1, Bhagoji Keer Marg, Mahim, Mumbai – 400016,
Maharashtra, India |
|
Tel. No.: |
91-22-24448069 / 73 |
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E-Mail : |
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PAN No.: |
AAAFT4024B |
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Related Parties : |
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CAPITAL STRUCTURE
As on 26.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2441040 |
Equity Shares |
Rs.10/- each |
Rs.24.410
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 |
24.410 |
24.410 |
21.000 |
|
(b) Reserves & Surplus |
167.663 |
143.479 |
83.098 |
|
(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) |
192.073 |
167.889 |
104.098 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
41.563 |
59.104 |
36.500 |
|
(b) Deferred tax liabilities (Net) |
0.087 |
0.690 |
0.547 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
2.995 |
2.564 |
1.860 |
|
Total Non-current
Liabilities (3) |
44.645 |
62.358 |
38.907 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
38.643 |
49.541 |
77.437 |
|
(b) Trade
payables |
23.847 |
33.101 |
41.377 |
|
(c) Other
current liabilities |
116.731 |
107.269 |
24.988 |
|
(d) Short-term
provisions |
34.955 |
22.353 |
20.870 |
|
Total Current
Liabilities (4) |
214.176 |
212.264 |
164.672 |
|
|
|
|
|
|
TOTAL |
450.894 |
442.511 |
307.677 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
109.245 |
119.668 |
82.495 |
|
(ii) Intangible
Assets |
0.356 |
0.246 |
0.380 |
|
(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 |
6.339 |
4.302 |
0.796 |
|
(e) Other
Non-current assets |
44.307 |
35.056 |
16.253 |
|
Total Non-Current
Assets |
160.247 |
159.272 |
99.924 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a) Current
investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
61.917 |
73.971 |
36.254 |
|
(c) Trade
receivables |
154.770 |
156.639 |
122.738 |
|
(d) Cash
and cash equivalents |
8.550 |
8.377 |
14.571 |
|
(e)
Short-term loans and advances |
65.331 |
44.096 |
34.041 |
|
(f) Other
current assets |
0.079 |
0.156 |
0.149 |
|
Total
Current Assets |
290.647 |
283.239 |
207.753 |
|
|
|
|
|
|
TOTAL |
450.894 |
442.511 |
307.677 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
628.826 |
520.865 |
377.222 |
|
|
|
|
Other Income |
3.212 |
2.595 |
2.303 |
|
|
|
|
TOTAL (A) |
632.038 |
523.460 |
379.525 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
242.633 |
206.265 |
140.750 |
|
|
|
|
Purchase of Stock-in-trade |
22.202 |
11.403 |
11.648 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
0.178 |
-17.722 |
9.083 |
|
|
|
|
Employee Benefits Expenses |
94.216 |
68.666 |
45.636 |
|
|
|
|
Other Expenses |
200.983 |
160.068 |
96.177 |
|
|
|
|
TOTAL (B) |
560.212 |
428.680 |
303.294 |
|
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
71.826 |
94.780 |
76.231 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
19.384 |
17.390 |
10.410 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
52.442 |
77.390 |
65.821 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
16.393 |
13.705 |
11.881 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G)
|
36.049 |
63.685 |
53.940 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
11.865 |
20.356 |
19.108 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
24.184 |
43.329 |
34.832 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
81.427 |
38.098 |
3.266 |
||
|
|
|
|
|
|
||
|
|
BALANCE CARRIED
TO THE B/S |
105.611 |
81.427 |
38.098 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export Earnings |
5.748 |
0.000 |
3.334 |
|
|
|
TOTAL EARNINGS |
5.748 |
0.000 |
3.334 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
122.202 |
146.917 |
72.795 |
|
|
|
|
Traded Goods |
16.718 |
0.000 |
0.000 |
|
|
|
|
Stores & Spares |
1.347 |
0.175 |
0.497 |
|
|
|
|
Capital Goods |
3.625 |
26.977 |
0.000 |
|
|
|
TOTAL IMPORTS |
143.892 |
174.069 |
73.292 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
9.91 |
19.00 |
16.59 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.83 |
8.28 |
9.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.73 |
12.23 |
14.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.00 |
14.39 |
17.53 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19 |
0.38 |
0.52 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.42 |
0.65 |
1.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.36 |
1.33 |
1.26 |
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 |
21.000 |
24.410 |
24.410 |
|
Reserves & Surplus |
83.098 |
143.479 |
167.663 |
|
Net
worth |
104.098 |
167.889 |
192.073 |
|
|
|
|
|
|
long-term borrowings |
36.500 |
59.104 |
41.563 |
|
Short term borrowings |
77.437 |
49.541 |
38.643 |
|
Total
borrowings |
113.937 |
108.645 |
80.206 |
|
Debt/Equity
ratio |
1.095 |
0.647 |
0.418 |
%20PRIVATE%20LIMITED%20-%20274521%2002-Jul-2014_files/image002.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
377.222 |
520.865 |
628.826 |
|
|
|
38.079 |
20.727 |
%20PRIVATE%20LIMITED%20-%20274521%2002-Jul-2014_files/image003.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
377.222 |
520.865 |
628.826 |
|
Profit |
34.832 |
43.329 |
24.184 |
|
|
9.23% |
8.32% |
3.85% |
%20PRIVATE%20LIMITED%20-%20274521%2002-Jul-2014_files/image004.gif)
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 |
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Loans and
advances from relates parties |
7.900 |
4.000 |
|
Other loans and
advances |
6.100 |
10.100 |
|
Short Term Borrowings |
|
|
|
Other loans and advances
(bills discounted under third party letters of credit) |
12.681 |
0.000 |
|
Total |
26.681 |
14.100 |
- No repayment schedule has been
stipulated in respect of the above loan.
- The loans carry interest rate ranging from
12% to 15% p.a.
- Lenders and promoters have agreed to
keep the loan till the repayment after Term Loan taken from bank.
BACKGROUND:
The Company was incorporated in lndia on September 15, 2004 as a Private Limited Company under the Companies Act, 1956 with its registered office located in Mumbai. The Company is a Joint Venture between Strata Systems Inc., USA (a subsidiary of John Boyle and Company Inc., USA) and Omnitex Industries (India) Limited, Mumbai for manufacturing and marketing of 'Geotextile' products including "Geogrids" in lndia and certain other countries. The Company has commenced manufacturing activities during 2009
OPERATIONS AND
FINANCE
During the year the Company has maintained steady growth in turnover and
profits besides progressing on many fronts.
OUT LOOK
The macro economic scenario of the country is going through turmoil because of
the worldwide phenomena and the unstable political climate within India.
However, the management is hopeful that the current industry scenario will
improve in the coming days. Further, the potential of the new divisions should
kick in and thereby improving the turnover and profits of the company.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10320350 |
20/03/2014 * |
187,100,000.00 |
ICICI Bank Limited |
Landmarkrace Cource Circle, Alkapuri, Baroda, Gujarat - 390015, India |
C05134499 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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.60.14 |
|
|
1 |
Rs.102.83 |
|
Euro |
1 |
Rs.82.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
DEFAULTER |
|
|
|
--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.