MIRA INFORM REPORT
|
Report Date : |
04.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SRI DHANALAKSHMI COTTON AND RICE MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D. No. 6-220, Veluru Road, Via Chilakaluripet, Ganapavaram, Guntur –
522619, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.07.1977 |
|
|
|
|
Com. Reg. No.: |
01-002187 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 31.950
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18100AP1977PTC002187 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDS07855B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCS1244G |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Distributor of Cotton Grey Fabric, Cotton
Linters, Ginning, Rice, Oil, Spinning and Power. |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Company has performed well. Financial position of the company is sound
and healthy. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
ICRA |
|
Rating |
Long term fund based limits = A- |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
February 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short term non-fund based facility = A1 |
|
Rating Explanation |
Very strong degree of safety and lowest
credit risk. |
|
Date |
February 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. Shastri |
|
Designation : |
General Manager in Finance |
|
Contact No.: |
91-8647-254921 |
|
Date : |
03.07.2014 |
LOCATIONS
|
Registered Office : |
D. No. 6-220, Veluru Road, Via Chilakaluripet, Ganapavaram, Guntur –
522619, Andhra Pradesh, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Oil / Spinning /
Rice Division : |
Gannavaram (VIA), Chilkaluripet, Guntur – 522619, Andhra Pradesh,
India |
|
Tel. No.: |
91-8647-254921-254924 91-8647-258233/ 258232 |
|
Fax No.: |
91-8647-254925/ 254927/ 254883/ 258239 |
|
|
|
|
Hydel Power Plant : |
A. Muppalla, Ipuru
Mandal, Guntur District - 522661, |
|
|
|
|
Textile
Division : |
|
|
|
|
|
Wind
Power Project : |
|
DIRECTORS
AS ON 05.09.2012
|
Name : |
Mr. Nannapaneni Raghava Rao |
|
Designation : |
Managing Director |
|
Address : |
2nd Line, Gandhipet, G.T. Road, Chilakaluripet, Guntur – 522616,
Andhra Pradesh, India |
|
Date of Birth/Age : |
26.03.1971 |
|
Date of Appointment : |
05.12.2007 |
|
PAN No.: |
AAZPN4314M |
|
DIN No. : |
00486125 |
|
|
|
|
Name : |
Mr. Pejjai Raghava Reddy |
|
Designation : |
Whole-time director |
|
Address : |
9th Line, Padaripuram, Chilakaluripet, Guntur District – 522616, |
|
Date of Birth/Age : |
01.02.1947 |
|
Date of Appointment : |
17.10.1977 |
|
PAN No.: |
AENPP0504K |
|
DIN No. : |
00486207 |
|
|
|
|
Name : |
Mr. P. Veera Narayana |
|
Designation : |
Whole-time director |
|
Address : |
Water |
|
Date of Birth/Age : |
02.05.1965 |
|
Date of Appointment : |
12.12.1998 |
|
PAN No.: |
AJNPP8287G |
|
DIN No. : |
00486169 |
|
|
|
|
Name : |
Mr. Madineni Lingaiah Choudary |
|
Designation : |
Director |
|
Address : |
243, |
|
Date of Birth/Age : |
14.04.1951 |
|
Date of Appointment : |
05.12.1997 |
|
DIN No. : |
00486287 |
|
|
|
|
Name : |
Mr. Sadineni Hanumantha Rao |
|
Designation : |
Whole-time director |
|
Address : |
Water |
|
Date of Birth/Age : |
20.05.1956 |
|
Date of Appointment : |
17.10.1977 |
|
PAN No.: |
AGZPS2288M |
|
DIN No. : |
00486244 |
KEY EXECUTIVES
|
Name : |
Mr. Shastri |
|
Designation : |
General Manager in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 05.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nannapaneni Raghava Rao |
|
909000 |
|
Pejjai Raghava Reddy |
|
130500 |
|
Sadineni Hanumantha Rao |
|
155250 |
|
Madineni Lingaiah |
|
128250 |
|
N. Anitha |
|
418500 |
|
Nannapaneni Anasuyamma |
|
173250 |
|
Murukonda Kesava Rao |
|
135000 |
|
Shaik Mabu Subhani |
|
87750 |
|
Vejendla Bhaskara Rao |
|
67500 |
|
B. Prasada Rao |
|
40500 |
|
Panguluri Peda Babu |
|
49500 |
|
Gottipati Subbayamma |
|
423000 |
|
Madamanchi Siva Kumari |
|
22500 |
|
Jasti Kranthi |
|
45000 |
|
Doppalapudi Srinivasa Rao |
|
45000 |
|
Murukonda Hunumayamma |
|
36000 |
|
Gottipati Srinivasa Rao |
|
36000 |
|
Pejjai Vijaylakshmi |
|
22500 |
|
Sadineni Lakshmi Padmavathi |
|
22500 |
|
Sadineni Murali Mohana Rao |
|
22500 |
|
G. Sri Devi |
|
22500 |
|
Bandarupalli Sri Devi |
|
22500 |
|
Perni Madhavi |
|
22500 |
|
Bodapati Ramesh |
|
22500 |
|
Bodapati Nagabhushanam |
|
22500 |
|
Ch. Hari Krishna |
|
11250 |
|
G Radhika |
|
11250 |
|
G Hima Bindu |
|
22500 |
|
Panguluri Subba Rao |
|
67500 |
|
|
|
|
|
Total |
|
3195000 |
AS ON 05.09.2012
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
65.00 |
|
Other
top fifty shareholders |
35.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Distributor of Cotton Grey Fabric, Cotton
Linters, Ginning, Rice, Oil, Spinning and Power. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
· China · European Countries · Middle East |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
· Japan · Germany · Italy · Switzerland |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
No. of Employees : |
1500 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· Union Bank of India Main Road, Lakshmipuram, Guntur – 522007, Andhra Pradesh, India · ICICI Bank Limited Land Mark Race Cource Circle, Alkapuri, Vadodara – 390015, Gujarat, India · IDBI Bank Limited IDBI Tower, WTC Complex, Cuffe Parade, Mumbai - 400005, Maharashtra, India · State Bank of India Specialised Commercial Branch, Kannavarithota, Guntur - 522004, Andhra Pradesh, India · Export Import Bank of India 21st Floor, World Trade Centre Complex, Centre One Building, Cufee Parade, Mumbai - 400005, Maharashtra, India · Kotak Mahindra Bank Limited 36-38A, Nariman Bhavan, 227,D, Nariman Point, Mumbai - 400021, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mastanaiah and Company Chartered Accountants |
|
Address : |
11 / 1 , Arundelpet, Guntur – 522002, Andhra Pradesh,
India |
|
Income-tax
PAN of auditor or auditor's firm : |
AADFM5561H |
|
|
|
|
Related Parties : |
· Sri Dhanalakshmi Fibers Private Limited ·
Dhanalakshmi Enterprises |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 80.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,195,000 |
Equity Shares |
Rs. 10/- each |
Rs. 31.950
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 |
31.950 |
31.950 |
31.950 |
|
(b) Reserves & Surplus |
1711.897 |
1475.636 |
1485.879 |
|
(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) |
1743.847 |
1507.586 |
1517.829 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
136.876 |
227.384 |
365.623 |
|
(b) Deferred tax liabilities (Net) |
246.114 |
215.565 |
225.073 |
|
(c)
Other long term liabilities |
14.950 |
14.587 |
12.622 |
|
(d)
long-term provisions |
9.462 |
7.365 |
5.482 |
|
Total
Non-current Liabilities (3) |
407.402 |
464.901 |
608.800 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
390.238 |
401.858 |
660.464 |
|
(b)
Trade payables |
157.311 |
95.755 |
118.079 |
|
(c)
Other current liabilities |
110.719 |
158.143 |
160.307 |
|
(d)
Short-term provisions |
22.688 |
6.684 |
6.684 |
|
Total
Current Liabilities (4) |
680.956 |
662.440 |
945.534 |
|
|
|
|
|
|
TOTAL |
2832.205 |
2634.927 |
3072.163 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1479.501 |
1533.548 |
1585.008 |
|
(ii)
Intangible Assets |
0.045 |
0.107 |
0.168 |
|
(iii)
Capital work-in-progress |
86.029 |
24.718 |
29.421 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.500 |
1.490 |
1.490 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
49.738 |
86.751 |
53.397 |
|
(e)
Other Non-current assets |
0.708 |
1.411 |
9.856 |
|
Total
Non-Current Assets |
1617.521 |
1648.025 |
1679.340 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
637.144 |
525.190 |
1056.524 |
|
(c)
Trade receivables |
416.151 |
331.214 |
260.594 |
|
(d)
Cash and cash equivalents |
40.013 |
17.603 |
9.372 |
|
(e)
Short-term loans and advances |
114.535 |
104.086 |
8.841 |
|
(f)
Other current assets |
6.841 |
8.809 |
57.492 |
|
Total
Current Assets |
1214.684 |
986.902 |
1392.823 |
|
|
|
|
|
|
TOTAL |
2832.205 |
2634.927 |
3072.163 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4801.492 |
3630.636 |
3286.732 |
|
|
|
Other Income |
5.419 |
4.766 |
7.531 |
|
|
|
TOTAL (A) |
4806.911 |
3635.402 |
3294.263 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
4239.129 |
3417.494 |
2644.681 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
567.782 |
217.908 |
649.582 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
82.654 |
109.564 |
63.573 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
485.128 |
108.344 |
586.009 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
120.581 |
119.533 |
102.539 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
364.547 |
(11.189) |
483.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
119.316 |
(7.630) |
182.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
245.231 |
(3.559) |
301.326 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1184.522 |
1234.765 |
980.123 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
40.000 |
40.000 |
40.000 |
|
|
|
Proposed Dividend |
7.668 |
5.751 |
5.751 |
|
|
|
Corporate Dividend Tax |
1.303 |
0.933 |
0.933 |
|
|
BALANCE CARRIED
TO THE B/S |
1380.782 |
1184.522 |
1234.765 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct Export |
167.762 |
156.637 |
314.920 |
|
|
|
Export through Merchant/Trade house |
343.086 |
277.939 |
238.158 |
|
|
TOTAL EARNINGS |
510.848 |
434.576 |
553.078 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
37.836 |
0.000 |
0.000 |
|
|
|
Stores & Spares |
9.192 |
9.424 |
7.313 |
|
|
|
Capital Goods |
34.258 |
0.000 |
60.389 |
|
|
TOTAL IMPORTS |
81.286 |
9.424 |
67.702 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
76.75 |
(1.11) |
94.31 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
5350.000 |
|
|
|
|
|
The above information has been parted by Mr. Shastri (General Manager in
Finance)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.10 |
(0.10) |
9.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.59 |
(0.31) |
14.71 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.28 |
(0.43) |
15.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.21 |
(0.01) |
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.30 |
0.42 |
0.68 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.78 |
1.49 |
1.47 |
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 |
31.950 |
31.950 |
31.950 |
|
Reserves & Surplus |
1485.879 |
1475.636 |
1711.897 |
|
Net
worth |
1517.829 |
1507.586 |
1743.847 |
|
|
|
|
|
|
long-term borrowings |
365.623 |
227.384 |
136.876 |
|
Short term borrowings |
660.464 |
401.858 |
390.238 |
|
Total
borrowings |
1026.087 |
629.242 |
527.114 |
|
Debt/Equity ratio |
0.676 |
0.417 |
0.302 |
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 |
3286.732 |
3630.636 |
4801.492 |
|
|
|
10.463 |
32.249 |
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 |
3286.732 |
3630.636 |
4801.492 |
|
Profit/ (Loss) |
301.326 |
(3.559) |
245.231 |
|
|
9.17% |
(0.10%) |
5.11% |
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 |
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 |
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 |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10442973 |
20/07/2013 |
50,000,000.00 |
KOTAK MAHINDRA
BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B82085622 |
|
2 |
10319410 |
31/10/2011 |
150,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B25940925 |
|
3 |
10248555 |
27/09/2013 * |
500,000,000.00 |
ICICI BANK
LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B86280336 |
|
4 |
10126095 |
06/01/2009 * |
137,500,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER WTC
COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A54014147 |
|
5 |
10047331 |
01/02/2012 * |
227,000,000.00 |
UNION BANK OF
INDIA |
MAIN ROAD,
LAKSHMIPURAM, GUNTUR, ANDHRA PRADESH - 522007, INDIA |
B31466121 |
|
6 |
10036008 |
14/02/2013 * |
379,700,000.00 |
STATE BANK OF
INDIA |
SPECIALISED COMMERCIAL
BRANCH, KANNAVARITHOTA, GUNTUR, ANDHRA PRADESH - 522004, INDIA |
B70299276 |
|
7 |
80012624 |
22/01/2009 * |
525,000,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
GROUP, KANNAVARI THOTA, GUNTUR, ANDHRA PRADESH - 522004, INDIA |
A56512981 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
72.864 |
240.000 |
|
Loans and advances from directors |
17.386 |
10.796 |
|
Loans and advances from others |
5.372 |
4.960 |
|
|
|
|
|
Total |
95.622 |
255.756 |
CHANGE OF ADDRESS:
The Registered Office of the company has been shifted from Gannavaram
(VIA), Chilkaluripet, Guntur, Andhra Pradesh, India to the present address
w.e.f.12.02.2013.
FUTURE OUTLOOK
Company has posted growth in sales turnover and has restored profitability to normal levels. It is satisfying to note the improvement in wind turbine mill capacity utilization levels during F.Y. 2012-13 and higher utilization levels in oil division. Operations at textile and spinning division were comfortable and hope to continue these performance levels during F.Y. 2013-14. The company expects to continue the improvement in operations and profitability with additional investments made in textiles and proposed investments in expansion of spinning division operations. The management proposes to expand operations in spinning division and textile division during the current year and next year. The expansion plans include installation of 6 additional looms in textile division, taking the total installed capacity to 96 Looms. The expansion in spinning division by way of 21,600 spindles to manufacture PV Yarn / Cotton Yarn with modern equipment is being envisaged to commensurate with the market trends.
Higher Income-tax outgo is expected to reduce the bottom
line.
FINANCE
During the financial year the Company had paid installments
of term loans and interest payable to Financial Institutions regularly. ICRA
has continued company rating of ‘BBB+’ for long term loans and ‘A2+’ for short
term loans respectively.
FIXED ASSETS:
· Land
· Buildings
· Office building
· Factory building
· Other building
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Computer software
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 : |
PRT |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is
calculated from a composite of weighted scores obtained from each of the major
sections of this report. The assessed factors and their relative weights (as
indicated through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.