MIRA INFORM REPORT
|
Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
PREMIER POLYFILM LIMITED |
|
|
|
|
Registered
Office : |
Flat No. 305, III
Floor, Elite House, 36, Community Centre, Kailash Colony Extension (Zamroodpur),
New Delhi – 110048 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
17.07.1992 |
|
|
|
|
Com. Reg. No.: |
55-49590 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.105.901 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L25209DL1992PLC049590 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELP08818F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACP0371Q |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchange. |
|
|
|
|
Line of Business
: |
Manufacturing and Sale of PVC Films and Sheets. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 880000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. There seems slight dip in the profit of the company during 2013 however
net worth of the company is satisfactory. General financial position of the
company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payment
terms are reported to be slow but correct. The company can be considered normal 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
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 CO-OPERATIVE
CONTACT NO.: 91-120-3364500
LOCATIONS
|
Registered Office : |
Flat No. 305, III
Floor, Elite House, 36, Community Centre, Kailash Colony Extension
(Zamroodpur), New Delhi – 110048, India |
|
Tel. No.: |
91-11-26226481 91-120-2896986/
2896987/ 3364500 |
|
Fax No.: |
91-11-26226482/
6617334 91-120-2896982 |
|
E-Mail : |
|
|
Website : |
www.premierpoly.com
|
|
|
|
|
Corporate
Office : |
C-4, Commercial Centre Safdarjung Development Area, New
Delhi - 110016, India |
|
|
|
|
Head/
Commercial Office/ Factory: |
40/1A, Site IV, Sahibabad Industrial Area, Sahibabad, Ghaziabad
– 201010, Uttar Pradesh, India |
|
Tel. No.: |
91-120- 2896986/ 2896988 |
|
Fax No.: |
91-120- 2896982 |
|
E-Mail : |
DIRECTORS
(AS ON 31.03.2014)
|
Name : |
Mr. Amar Nath Goenka |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Amitabh Goenka |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Jaspal
Singh Marwah |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Kamlesh Kumar Sinha |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Manoj Kumar Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. S.P. Jain |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. N.K. Bhandari |
|
Designation : |
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 31.03.2014)
|
Category of Shareholder |
Total No. of Shares |
Total Shareholding as a % of Total No. of Shares |
|
(A) Shareholding of Promoter and Promoter
Group |
|
|
|
|
|
|
|
|
4580875 |
21.87 |
|
|
5221359 |
24.92 |
|
|
9802234 |
46.79 |
|
|
|
|
|
|
|
|
|
Total shareholding of Promoter and Promoter
Group (A) |
9802234 |
46.79 |
|
|
|
|
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
185825 |
0.89 |
|
|
162950 |
0.78 |
|
|
348775 |
1.66 |
|
|
|
|
|
|
|
|
|
|
8657331 |
41.33 |
|
|
|
|
|
|
|
|
|
|
1393436 |
6.65 |
|
|
562619 |
2.69 |
|
|
184100 |
0.88 |
|
|
97800 |
0.47 |
|
|
18000 |
0.09 |
|
|
68300 |
0.33 |
|
|
10797486 |
51.54 |
|
|
|
|
|
Total Public shareholding (B) |
11146261 |
53.21 |
|
|
|
|
|
Total (A)+(B) |
20948495 |
100.00 |
|
|
|
|
|
(C) Shares held by Custodians and against
which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
|
|
|
Total (A)+(B)+(C) |
20948495 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing and Sale of PVC Films and Sheets. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· Oriental Bank of Commerce Industrial Finance Branch, H – 15, Connaught Circus, New Delhi – 110 001, India. · Canara Bank S. D. Area, New Delhi – 110 016, India · Axis Bank Limited Statesman House, Ground Floor, 148, Barakhamba Road, New Delhi – 110001, India · Syndicate Bank Barakhamba Road, New
Delhi-110001, India · Kotak Mahindra Bank Limited Chandni Chowk, Delhi – 110006, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
De and Bose Chartered Accountants |
|
Address : |
8/2, |
|
|
|
|
Associates/Subsidiaries : |
·
Premier Polyplast and Processors Limited ·
D.L. Millar and Company Limited ·
1000 Plus Trading Inc. ·
Sri Vishvanath Enterprises Limited ·
G. B. and Company
|
CAPITAL STRUCTURE
(AS ON 31.03.2013)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.5/- each |
Rs.150.000 Millions |
|
|
|
|
|
Issued and Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
21415000 |
Equity Shares |
Rs.5/- each |
Rs.107.075
Millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20948495 |
Equity Shares |
Rs.5/- each |
Rs.104.742
Millions |
|
|
Forfeited Shares |
|
Rs.1.159
Millions |
|
|
|
|
Rs.105.901 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 |
105.901 |
105.901 |
105.901 |
|
(b) Reserves & Surplus |
113.860 |
94.869 |
75.797 |
|
(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) |
219.761 |
200.770 |
181.698 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
13.866 |
0.000 |
0.256 |
|
(b) Deferred tax liabilities (Net) |
6.582 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
14.511 |
10.990 |
10.482 |
|
Total Non-current
Liabilities (3) |
34.959 |
10.990 |
10.738 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
39.437 |
99.067 |
57.915 |
|
(b) Trade
payables |
65.280 |
61.543 |
50.397 |
|
(c) Other
current liabilities |
53.128 |
53.245 |
45.830 |
|
(d) Short-term
provisions |
3.946 |
3.695 |
4.655 |
|
Total Current
Liabilities (4) |
161.791 |
217.550 |
158.797 |
|
|
|
|
|
|
TOTAL |
416.511 |
429.310 |
351.233 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
100.624 |
116.418 |
101.531 |
|
(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 |
4.232 |
4.003 |
2.587 |
|
(e) Other
Non-current assets |
1.496 |
1.129 |
24.757 |
|
Total Non-Current
Assets |
106.352 |
121.550 |
128.875 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
141.079 |
146.600 |
101.291 |
|
(c) Trade
receivables |
114.897 |
87.917 |
70.007 |
|
(d) Cash
and cash equivalents |
44.794 |
62.782 |
36.294 |
|
(e)
Short-term loans and advances |
8.307 |
4.935 |
13.186 |
|
(f) Other
current assets |
1.082 |
5.526 |
1.580 |
|
Total
Current Assets |
310.159 |
307.760 |
222.358 |
|
|
|
|
|
|
TOTAL |
416.511 |
429.310 |
351.233 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
704.607 |
625.756 |
539.948 |
|
|
|
Other Income |
20.084 |
21.133 |
8.712 |
|
|
|
TOTAL (A) |
724.691 |
646.889 |
548.660 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
474.779 |
456.608 |
373.061 |
|
|
|
Purchases of Stock-in-Trade |
4.279 |
8.714 |
22.342 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
7.190 |
(26.525) |
(23.441) |
|
|
|
Employees benefits expense |
57.750 |
50.713 |
43.925 |
|
|
|
Manufacturing
Expenses |
78.026 |
69.389 |
52.958 |
|
|
|
Administrative
and Other expenses |
23.512 |
22.011 |
18.802 |
|
|
|
Selling
and Distribution Expenses |
19.715 |
14.577 |
24.913 |
|
|
|
Exceptional
Items |
(1.832) |
0.000 |
(0.771) |
|
|
|
TOTAL (B) |
663.419 |
595.487 |
511.789 |
|
|
|
|
|
|
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
61.272 |
51.402 |
36.871 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.176 |
8.935 |
6.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
50.096 |
42.467 |
30.371 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.947 |
18.496 |
18.145 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
32.149 |
23.971 |
12.226 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.158 |
4.900 |
2.425 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
18.991 |
19.071 |
9.801 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
93.034 |
110.756 |
39.608 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
84.753 |
66.851 |
40.618 |
|
|
|
Capital Goods |
0.459 |
0.380 |
0.277 |
|
|
TOTAL IMPORTS |
85.212 |
67.231 |
40.895 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.91 |
0.91 |
0.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.62 |
2.95 |
1.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.56 |
3.83 |
2.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.72 |
5.58 |
3.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.12 |
0.07 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.24 |
0.49 |
0.32 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.92 |
1.41 |
1.40 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
105.901 |
105.901 |
105.901 |
|
Reserves & Surplus |
75.797 |
94.869 |
113.860 |
|
Net worth |
181.698 |
200.770 |
219.761 |
|
|
|
|
|
|
long-term borrowings |
0.256 |
0.000 |
13.866 |
|
Short term borrowings |
57.915 |
99.067 |
39.437 |
|
Total borrowings |
58.171 |
99.067 |
53.303 |
|
Debt/Equity ratio |
0.320 |
0.493 |
0.243 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
539.948 |
625.756 |
704.607 |
|
|
|
15.892 |
12.601 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from Operations |
539.948 |
625.756 |
704.607 |
|
Profit |
9.801 |
19.071 |
18.991 |
|
|
1.82% |
3.05% |
2.70% |
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 |
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Short Term
Borrowings |
|
|
|
Loans from other Parties |
27.402 |
68.949 |
|
From Distributors |
0.211 |
0.211 |
|
|
|
|
|
Total |
27.613 |
69.160 |
OPERATIONS
The company produced 12,034 M.T. of PVC flooring, Sheetings, Films etc.
as against 12,242 M.T. produced during the previous year, achieving a capacity
utilization of 74.28 % as compared to around 75.57% in the previous year. The
Company could achieve higher capacity utilization but for depressed demand for
products due to current recession.
FUTURE PROSPECTS
Despite
facing tough competition from imported finished goods, the products of your company
are well received in the market and the market will not be a constraint after
present recession is over. Kotak Mahindra Bank Limited has also sanctioned and
disbursed Working Capital Facilities and Term Loan to the company and there is
no shortage of working capital facilities. Barring unforeseen circumstances,
your company expects to do well in future.
MANAGEMENT
DISCUSSION AND ANALYSIS REPORT
INDUSTRY
The company is engaged in
the manufacture of vinyl flooring, sheeting and artificial leather cloth. The
products of the company are used for a variety of industrial and consumer
applications. Overall growth rate of the market size is 5 % to 10% annually.
The image of the company,
built though decades of quality is the major strength of the company. The
company has a significant share of the vinyl flooring, sheeting and artificial
leather cloth market and is the quality leader in the vinyl flooring market.
FINANCIAL PERFORMANCE
Net Turnover for the year
was Rs.724.700 Millions which was Rs.646.900 Millions for the previous year.
Profit margins and Sales was low due to dumping of imported material in the
market and unhealthy competition from domestic manufacturers due to over
capacity.
EXPORT
PERFORMANCE
The Company could Export
the products to the tune of Rs.93.000 Millions during the current year as
against Rs.110.800 Millions during the previous year. The reasons for sharp
decline in the exports is globally general economic recession in foreign
Market.
INTERNAL CONTROL SYSTEM
The Company has proper and
adequate internal control system to ensure that its assets are safeguarded and
that transactions are properly authorised, reported and recorded. The Company
has also a system of internal audit and management reviews to ensure compliance
with the prescribed procedure and authority level. M/s D.D. Bansal and
Associates, Chartered Accountants, are Internal Auditor of the company to look
after the job of Internal Auditor.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
Unredeemed Bank Guarantees |
7.707 |
6.573 |
|
Bonds Executed in favour of Central Excise
Department |
15.000 |
15.000 |
|
Entry Tax Demand for the year 2004-05 |
1.558 |
1.558 |
INDEX OF CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10353705 |
06/07/2012 * |
120,000,000.00 |
KOTAK MAHINDRA BANK
LIMITED |
36-38A, NARIMAN BHAVAN, 227,D,
NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B56209752 |
|
2 |
90056565 |
25/04/1996 |
10,500,000.00 |
THE PRADESHIYA INDUSTRIAL
AND INVESTMENT CORP. OF U. |
PICUP BHAWAN, GOMTI
NAGAR, LUCKNOW, UTTAR PRADESH, INDIA |
- |
* Date of Modification Charges
FIXED ASSETS:
· Land (Leasehold)
· Buildings
· Plant and Machinery
· Electrical Installations
· Furniture and Fixture
· Office equipments
· Vehicles
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 records 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.59.97 |
|
|
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.80.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
42 |
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.