MIRA INFORM REPORT
|
Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHUBHALAKSHMI POLYESTERS LIMITED |
|
|
|
|
Registered
Office : |
401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri
(West), Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.09.2005 |
|
|
|
|
Com. Reg. No.: |
11-190937 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.339.917
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17110MH2005PLC190937 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAJCS2757C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Yarns. |
|
|
|
|
No. of Employees
: |
1500 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company is normal and acceptable for
business dealings. Trade relations are reported as fair. Business is active. Payment
terms are reported to be usually 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB – [Long Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
04.04.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 [Short Term Bank Facilities] |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
04.04.2014 |
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
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-26744375 |
|
Date : |
02.07.2014 |
LOCATIONS
|
Registered/ Corporate Office : |
401, A-Wing, Oberoi Chambers, Near Kuber, Andheri Link Road, Andheri
(West), Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26744375 / 6 |
|
Fax No.: |
91-22-26744377 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Head Office : |
401, Jeevandeep Complex, Ring Road, Surat – 395002, Gujarat, India |
|
Tel No.: |
91-261-2354402/3 |
|
Fax No.: |
91-261-2354401 |
|
E-mail Id : |
|
|
|
|
|
Factory 1: |
Survey No.179/1 / 4, Village: Silli, Silvassa-396230 Union Territory of Dadra and Nagar Haveli |
|
Tel. No.: |
91-260-3253441 / 42 |
|
Mobile No.: |
91-9825800850 |
|
Fax No.: |
91-260-2632939 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
376/2, 16-17-22, Opposite Rishi Packer, Kachigam, Union Territory of Daman and Diu |
|
Tel No.: |
91-260 - 2240117 / 2241535 |
|
|
|
|
Factory 3 : |
Located at Bharuch, Gujarat, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ajay Agarwal |
|
Designation : |
Managing Director |
|
Address : |
A-302, Nanadigram Apartments, Ghod Dod Road, Opposite Parle Point,
Surat-395001, Gujarat, India |
|
Date of Birth/Age : |
23.02.1963 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
AACPA1348P |
|
DIN No.: |
00088953 |
|
|
|
|
Name : |
Mr. Vikas Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West),
Mumbai-400053, Maharashtra, India |
|
Date of Birth/Age : |
30.08.1981 |
|
Date of Appointment : |
01.04.2012 |
|
PAN No.: |
ADVPA1863D |
|
DIN No.: |
00089659 |
|
|
|
|
Name : |
Mr. Bankesh Chandra Late Babulal Agarwal |
|
Designation : |
Director |
|
Address : |
41-Royal Accord, 4th Floor, Opposite Lokhandwala Complex,
Andheri (West)m Mumabi-400090, Maharashtra, India |
|
Date of Birth/Age : |
29.10.1951 |
|
Date of Appointment : |
13.09.2005 |
|
DIN No.: |
00121080 |
|
|
|
|
Name : |
Mr. Ramu Raman Late Babulal Agarwal |
|
Designation : |
Director |
|
Address : |
51-A, Royal Accord IV Apnaghar Layout, Lokhandwala, Andheri (West), Mumbai-400053,
Maharashtra, India |
|
Date of Birth/Age : |
22.11.1949 |
|
Date of Appointment : |
30.06.2011 |
|
DIN No.: |
00203860 |
|
|
|
|
Name : |
Mr. Manoj Agarwal |
|
Designation : |
Director |
|
Address : |
41-Royal Accord, 4th Floor, Opposite Lokhandwala Complex,
Andheri (West) Mumabi-400090, Maharashtra, India |
|
Date of Birth/Age : |
16.08.1977 |
|
Date of Appointment : |
13.09.2005 |
|
PAN No.: |
AAKPA6827F |
|
DIN No.: |
00267951 |
|
|
|
|
Name : |
Dr. Raghavachari Srinivasan |
|
Designation : |
Director |
|
Address : |
C-6-1, Lloyds Garden, Appa Saheb Marathe Marg, Prabhadevi,
Mumbai-400025, Maharashtra, India |
|
Date of Birth/Age : |
30.05.1931 |
|
Date of Appointment : |
23.09.2011 |
|
PAN No.: |
AAQPS5847R |
|
DIN No.: |
00003968 |
KEY EXECUTIVES
|
Name : |
Mr. Mahesh Kumar Poddar |
|
Designation : |
Company Secretary |
|
Address : |
C-201, Whispering Palms-XXclusive, Lokhandwala Complex, Kandiwali East, Mumbai-400101, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1974 |
|
Date of Appointment : |
01.07.2011 |
|
PAN No.: |
AIWPP1708N |
|
|
|
|
Name : |
Mr. Sanjay Jain |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Ajaykumar Agarwal |
|
846020 |
|
Bankesh Chandra Agarwal |
|
748445 |
|
Ramu Raman Agarwal |
|
737392 |
|
Manoj Kumar Agarwal |
|
563000 |
|
Vikas Agarwal |
|
526333 |
|
Shailendra Chaudhary |
|
34333 |
|
Vikram Chaudhary |
|
1000 |
|
Shubhlaxmi Dyetex Private Limited, India |
|
31116072 |
|
Ajay Kumar Agarwal –HUF |
|
97523 |
|
Babulal Agarwal –HUF |
|
54028 |
|
Bankesh Chandra Agarwal –HUF |
|
68334 |
|
Ramau Raman Agarwal - HUF |
|
162053 |
|
Gayatri Devi Agarwal |
|
119393 |
|
Kanta Agarwal |
|
3000 |
|
Narangi Devi Agarwal |
|
69000 |
|
Suman Agarwal |
|
131975 |
|
Chandra Choudhary |
|
12500 |
|
Shubhalakshmi Petro-Yarns Private Limited, India |
|
841337 |
|
|
|
|
|
TOTAL
|
|
36131738 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
88.45 |
|
Directors
or relatives of directors |
|
11.55 |
|
TOTAL |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Yarns. |
GENERAL INFORMATION
|
Suppliers : |
Indian Oil |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
1500 [Approximately] |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pradeep Singhi and Associates Chartered Accountants |
|
Address : |
A/501, President Plaza, Near RTO, Ring Road, Nanpura, Surat, Gujarat, India |
|
PAN No: |
ADRPS1701L |
|
|
|
|
Holding Company : |
Shubhlaxmi
Dyetex Private Limited [U17119GJ1991PTC014906] |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40000000 |
Equity Shares |
Rs.10/- each |
Rs.400.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
36131738 |
Equity Shares |
Rs.10/- each
|
Rs.361.317
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 |
339.917 |
246.977 |
214.949 |
|
(b) Reserves &
Surplus |
1755.144 |
1073.423 |
740.564 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
100.000 |
|
Total Shareholders’ Funds
(1) + (2) |
2095.061 |
1320.400 |
1055.513 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
3214.659 |
2257.401 |
1006.118 |
|
(b) Deferred tax
liabilities (Net) |
200.536 |
136.660 |
115.927 |
|
(c) Other long term
liabilities |
283.664 |
66.423 |
21.506 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
3698.859 |
2460.484 |
1143.551 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1350.044 |
460.023 |
465.948 |
|
(b) Trade payables |
1697.274 |
514.039 |
529.392 |
|
(c) Other current
liabilities |
263.687 |
239.304 |
8.011 |
|
(d) Short-term provisions |
149.106 |
110.367 |
95.864 |
|
Total Current Liabilities
(4) |
3460.111 |
1323.733 |
1099.215 |
|
|
|
|
|
|
TOTAL |
9254.031 |
5104.617 |
3298.279 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
5162.231 |
1566.406 |
1480.620 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
7.072 |
1845.567 |
150.731 |
|
(iv) Intangible assets
under development |
40.733 |
30.668 |
0.000 |
|
(b) Non-current
Investments |
35.101 |
35.093 |
8.051 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
33.535 |
22.134 |
22.132 |
|
(e) Other Non-current
assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
5278.672 |
3499.868 |
1661.534 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
2.627 |
53.025 |
88.093 |
|
(b) Inventories |
1345.803 |
373.126 |
506.741 |
|
(c) Trade receivables |
1622.390 |
722.559 |
594.295 |
|
(d) Cash and cash
equivalents |
376.191 |
268.948 |
258.514 |
|
(e) Short-term loans and
advances |
625.364 |
185.353 |
188.797 |
|
(f) Other current assets |
2.984 |
1.738 |
0.305 |
|
Total Current Assets |
3975.359 |
1604.749 |
1636.745 |
|
|
|
|
|
|
TOTAL |
9254.031 |
5104.617 |
3298.279 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
7505.760 |
5669.152 |
4537.472 |
|
|
Other Income |
9.572 |
8.808 |
2.508 |
|
|
TOTAL (A) |
7515.332 |
5677.960 |
4539.980 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
6436.743 |
4709.905 |
3676.600 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(151.332) |
(62.781) |
(60.714) |
|
|
Employees benefits
expense |
130.754 |
97.475 |
83.982 |
|
|
Other expenses |
629.306 |
538.131 |
440.406 |
|
|
TOTAL (B) |
7045.471 |
5282.730 |
4140.274 |
|
|
|
|
|
|
|
Less |
PROFIT/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND
AMORTISATION (C) |
469.861 |
395.230 |
399.706 |
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
175.830 |
102.354 |
80.487 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE
TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
294.031 |
292.876 |
319.219 |
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
111.431 |
94.666 |
80.733 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE TAX (E-F) (G) |
182.600 |
198.210 |
238.486 |
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.023) |
33.847 |
36.976 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) AFTER TAX
(G-I) (J) |
182.623 |
164.363 |
201.510 |
|
|
|
|
|
|
|
|
EARNINGS IN FOREIGN
CURRENCY |
|
|
|
|
|
Exports Earnings |
287.257 |
137.632 |
206.522 |
|
|
TOTAL EARNINGS |
287.257 |
137.632 |
206.522 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
735.122 |
0.000 |
0.000 |
|
|
Components and Stores
parts |
91.266 |
0.000 |
0.000 |
|
|
Capital Goods |
698.444 |
0.000 |
0.000 |
|
|
TOTAL IMPORTS |
1524.832 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (Rs.) |
5.37 |
6.65 |
9.37 |
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover [Approximately] |
|
|
20000.000 |
The above information has been parted by Mr. Sanjay Jain.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.43 |
2.89 |
4.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.43 |
3.50 |
5.26 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.99 |
6.21 |
7.60 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09 |
0.15 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.18 |
2.06 |
1.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.21 |
1.49 |
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 |
214.949 |
246.977 |
339.917 |
|
Reserves & Surplus |
740.564 |
1073.423 |
1755.144 |
|
Net worth |
955.513 |
1320.400 |
2095.061 |
|
|
|
|
|
|
long-term borrowings |
1006.118 |
2257.401 |
3214.659 |
|
Short term borrowings |
465.948 |
460.023 |
1350.044 |
|
Total borrowings |
1472.066 |
2717.424 |
4564.703 |
|
Debt/Equity ratio |
1.541 |
2.058 |
2.179 |
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 |
4537.472 |
5669.152 |
7505.760 |
|
|
|
24.941 |
32.397 |
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 |
4537.472 |
5669.152 |
7505.760 |
|
Profit |
201.510 |
164.363 |
182.623 |
|
|
4.44% |
2.90% |
2.43% |
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 |
233.302
|
215.570 |
0.878 |
|
Sr. No. |
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
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 |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth 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 |
NOTE:
The Registered Office of the company has been shifted from “418
Jeevandeep Complex, Opposite J.K. Tower Ring road, Surat – 395 002, Gujarat,
India” to present w.e.f 23.02.2009.
INDEX OF CHARGES
|
S. NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10455072 |
05/10/2013 |
5,387,200,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B87492393 |
|
2 |
10455073 |
05/10/2013 |
5,387,200,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B87491700 |
|
3 |
10432231 |
17/06/2013 |
500,000,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B77561694 |
|
4 |
10359331 |
06/06/2012 |
58,500,000.00 |
IDBI BANK LIMITED |
IDBI TOWER WTC COMPLEX, CUFFE PARADE, MUMBAI, BRANCH AT 2ND FLOOR, ESSEN HOUSE, GHOD DOD ROAD, SURAT - 395009, GUJARAT, INDIA |
B41088253 |
|
5 |
10358963 |
11/05/2012 |
150,000,000.00 |
STATE BANK OF TRAVANCORE |
RAJHANS COMPLEX, 0PP.J.K TOWER, RING ROAD,SURAT, SURAT - 395002, GUJARAT, INDIA |
B40909608 |
|
6 |
10201640 |
01/02/2010 |
89,000,000.00 |
IDBI BANK LIMITED |
ESS EN HOUSE, GHOD DOD ROAD, SURAT - 395007, GUJARAT, INDIA |
A79150314 |
|
7 |
10009861 |
16/06/2013 * |
113,600,000.00 |
STATE BANK OF INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA - |
B79181020 |
|
8 |
10007280 |
30/01/2013 * |
7,369,600,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
B67573303 |
|
9 |
90094980 |
28/06/1997 |
11,700,000.00 |
BANK OF BARODA |
PARSI SHERI BRANCH, SURAT - 395003, GUJARAT, INDIA |
- |
|
10 |
90243086 |
12/04/1991 |
4,750,000.00 |
STATE BANK OF INDIA |
SP COMM. BRNCH, SURAT, GUJARAT, INDIA |
- |
* Date of charge modification
|
CASE DETAILS BENCH: BOMBAY PRESENTATION DATE: 29/11/2013 LODGING
NO.: CPL/813/2013
FILING DATE: 29/11/2013 REG. NO.: CP/41/2014
REG.
DATE: 23/01/2014
|
PROGRESS:
The Company has set up a new plant for manufacturing of PET Chips having capacity of 600 TPD at Bhensali, Dahej and operation of this plant has started in the last quarter of the year. The Company has capitalized all the pre-operative expenditure and depreciation has been provided on Straight Line method (SLM) as per Section 205 (2) of the Companies Act, 1956.
|
Unsecured Loan |
As
on 31.03.2013 [Rs.
in Millions] |
As
on 31.03.2012 [Rs.
in Millions] |
|
LONG TERM
BORROWINGS |
|
|
|
Deposits from directors |
6.796 |
0.975 |
|
Loans and advances from related parties |
100.000 |
0.000 |
|
TOTAL
|
106.796 |
0.975 |
FIXED ASSETS:
- Land and Buildings
- Plant and Equipment
- Furniture and Fixtures
- Motor Vehicles
- Office Equipment
- Computer 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.59.72 |
|
|
1 |
Rs.102.45 |
|
Euro |
1 |
Rs.81.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.