MIRA INFORM REPORT
|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
BALKRISHNA PAPER MILLS LIMITED |
|
|
|
|
Registered
Office : |
A-701, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower
Parel, Mumbai - 400013, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
10.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168591 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 49.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21093MH2007PLC168591 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCB0910G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Paper and Paper Board. |
|
|
|
|
No. of Employees
: |
200 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Rating reflects moderate financial risk profile due to loss incurred
by the company and increased in external borrowing over previous year. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 and moderate credit risk. |
|
Date |
30.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
30.12.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Sunil Sawant |
|
Designation : |
Export Department |
|
Contact No.: |
91-22-61207900 |
|
Date : |
04.07.2014 |
LOCATIONS
|
Registered Office / Corporate Office : |
A-701, Trade World, Kamala Mills Compound, Senapati Bapat Marg, Lower
Parel, Mumbai - 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66663800 / 61207900 |
|
Fax No.: |
91-22-66663898 / 61207999 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office : |
102, S. J. House, Sitaram Mill Compound, N. M Joshi Marg, Mumbai
400011, |
|
|
|
|
Factory 1 : |
Ambivli Post Mohane, Taluka Kalyan, District Thane, |
|
Tel. No.: |
91-251-2270701 / 02 / 03 |
|
Fax No.: |
91-251-2270705 |
|
|
|
|
Factory 2 : |
Building No.F3 & F4, Bhiwandi-Nashik Road, Village Dhamangaon,
Taluka Bhieandi, Thane – 421302, Maharashtra, India |
DIRECTORS
As on 27.05.2013
|
Name : |
Mr. Sachin Nath Chaturvedi |
|
Designation : |
Director |
|
Address : |
2803/04, 28th Floor, Shreepati Arcade, A. K. Marg, Nana
Chowk, Mumbai 400036, |
|
Date of Birth/Age : |
30.09.1950 |
|
Qualification : |
CA |
|
Date of Appointment : |
16.05.2008 |
|
DIN No.: |
00553459 |
|
|
|
|
Name : |
Mr. Anurag Pawankumar Poddar |
|
Designation : |
Director |
|
Address : |
1501, |
|
Date of Birth/Age : |
13.07.1981 |
|
Qualification : |
MBA |
|
Date of Appointment : |
10.03.2007 |
|
DIN No.: |
00599143 |
|
|
|
|
Name : |
Mr. Rakesh Kumar Garodia |
|
Designation : |
Director |
|
Address : |
4, Piramal Industrial Estate, S. V. Road, Goregaon (West), Mumbai – 400062, Maharashtra, India |
|
Date of Birth/Age : |
15.09.1963 |
|
Date of Appointment : |
24.05.2010 |
|
DIN No.: |
00143438 |
|
|
|
|
Name : |
Mr. Ankit Poddar |
|
Designation : |
Whole-Time Director |
|
Address : |
52, Mount Unique, 62, A Poddar Road, Mumbai – 400026, Maharashtra,
India |
|
Date of Birth/Age : |
30.10.1988 |
|
Date of Appointment : |
09.05.2011 |
|
DIN No.: |
03521731 |
|
|
|
|
Name : |
Mr. Subhash Chand Mantri |
|
Designation : |
Director |
|
Address : |
B-15, Jamuna Darshan, Bangur Nagar, Goregaon (West), Mumbai – 400090, Maharashtra, India |
|
Date of Birth/Age : |
01.07.1963 |
|
Date of Appointment : |
11.02.2012 |
|
DIN No.: |
00219847 |
|
|
|
|
Name : |
Mr. Shruti Sheel Jhanwar |
|
Designation : |
Whole-Time Director |
|
Address : |
Bldg No. 6, Flat No. 404, Minal Mandir Anmol Nagar CHS Limited, Opposite Leela Business Park Andheri Kurla Road, Andheri East, Mumbai – 400059, Maharashtra, India |
|
Date of Birth/Age : |
26.12.1974 |
|
Date of Appointment : |
24.05.2013 |
|
DIN No.: |
03582803 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil Sawant |
|
Designation : |
Export Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.05.2013
|
Names of Shareholders (Equity Shares) |
|
No. of Shares |
|
Balkrishna Industries Limited, India |
|
2999400 |
|
Arvind Kumar Poddar |
|
100 |
|
Ramesh Kumar Poddar |
|
100 |
|
Shrikishan Poddar |
|
100 |
|
Rajiv Poddar |
|
100 |
|
Sangeeta Poddar |
|
100 |
|
Gaurav Poddar |
|
100 |
|
Total |
|
3000000 |
|
Names of Shareholders (Preference
Shares) |
|
No. of Shares |
|
Balkrishna Industries Limited, India |
|
1950000 |
|
Total |
|
1950000 |
As on 28.01.2014
|
Names of Allottees (Equity Shares) |
|
No. of Shares
Allotted |
|
Balkrishna Industries Limited, India |
|
3500000 |
|
Total |
|
3500000 |
As on 27.05.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Paper and Paper Board. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Terms : |
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Selling : |
L/C / Credit |
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Purchasing : |
L/C / Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
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No. of Employees : |
200 (Approximately) |
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Bankers : |
|
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|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Jayantilal Thakkar and Company Chartered Accountants |
|
Address : |
111-A, |
|
PAN No.: |
AAAFJ3458R |
|
|
|
|
Holding Company : |
Balkrishna Industries Limited |
CAPITAL STRUCTURE
After 27.05.2013
Authorised Capital : Rs.400.000
Millions
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
38000000 |
Equity Shares |
Rs.10/- each |
Rs.380.000 Millions |
|
1950000 |
Preference Shares |
Rs.10/- each |
Rs.19.500 Millions |
|
|
Total |
|
Rs.399.500
Millions |
As on 27.05.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
2000000 |
Preference Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Million |
|
1950000 |
Preference Shares |
Rs.10/- each |
Rs.19.500 Millions |
|
|
Total |
|
Rs.49.500
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 |
49.500 |
49.500 |
49.500 |
|
(b) Reserves & Surplus |
333.884 |
407.643 |
411.324 |
|
(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) |
383.384 |
457.143 |
460.824 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
534.204 |
176.426 |
22.357 |
|
(b) Deferred tax liabilities (Net) |
39.059 |
26.203 |
18.407 |
|
(c) Other long term
liabilities |
28.436 |
6.334 |
1.320 |
|
(d) long-term
provisions |
0.214 |
1.114 |
96.370 |
|
Total Non-current
Liabilities (3) |
601.913 |
210.077 |
138.454 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
232.043 |
91.787 |
0.000 |
|
(b) Trade
payables |
203.660 |
121.416 |
79.134 |
|
(c) Other
current liabilities |
84.982 |
40.561 |
42.485 |
|
(d) Short-term
provisions |
5.665 |
4.549 |
4.913 |
|
Total Current
Liabilities (4) |
526.350 |
258.313 |
126.532 |
|
|
|
|
|
|
TOTAL |
1511.647 |
925.533 |
725.810 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i) Tangible
assets |
333.497 |
239.893 |
156.728 |
|
(ii)
Intangible Assets |
3.237 |
3.905 |
0.009 |
|
(iii)
Capital work-in-progress |
642.959 |
239.783 |
123.065 |
|
(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 |
40.663 |
68.446 |
122.287 |
|
(e) Other
Non-current assets |
2.925 |
4.413 |
3.044 |
|
Total Non-Current
Assets |
1023.281 |
556.440 |
405.133 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
2.001 |
0.120 |
113.179 |
|
(b)
Inventories |
208.846 |
147.348 |
102.280 |
|
(c) Trade
receivables |
107.362 |
89.338 |
87.993 |
|
(d) Cash and
cash equivalents |
92.751 |
110.124 |
1.612 |
|
(e)
Short-term loans and advances |
74.675 |
21.207 |
12.463 |
|
(f) Other
current assets |
2.731 |
0.956 |
3.150 |
|
Total
Current Assets |
488.366 |
369.093 |
320.677 |
|
|
|
|
|
|
TOTAL |
1511.647 |
925.533 |
725.810 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1519.580 |
1567.788 |
1615.240 |
|
|
|
Other Income |
9.870 |
15.176 |
10.457 |
|
|
|
TOTAL (A) |
1529.450 |
1582.964 |
1625.697 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
944.385 |
1031.323 |
986.544 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
6.606 |
(41.115) |
(2.540) |
|
|
|
Employees benefits expense |
83.558 |
69.959 |
57.221 |
|
|
|
Other expenses |
528.443 |
501.295 |
468.976 |
|
|
|
TOTAL (B) |
1562.992 |
1561.462 |
1510.201 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(33.542) |
21.502 |
115.496 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.637 |
4.597 |
1.950 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(43.179) |
16.905 |
113.546 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.305 |
11.022 |
8.858 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(60.484) |
5.883 |
104.688 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
12.856 |
9.605 |
31.280 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(73.340) |
(3.722) |
73.408 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
|
|
|
|
|
|
Basic |
(24.59) |
(1.23) |
24.39 |
|
|
|
Diluted |
(3.27) |
(0.15) |
3.26 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(4.80) |
(0.24) |
4.52 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.98) |
0.38 |
6.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(6.96) |
0.86 |
17.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.16) |
0.01 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.00 |
0.59 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.93 |
1.43 |
2.53 |
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 |
49.500 |
49.500 |
49.500 |
|
Reserves & Surplus |
411.324 |
407.643 |
333.884 |
|
Net
worth |
460.824 |
457.143 |
383.384 |
|
|
|
|
|
|
long-term borrowings |
22.357 |
176.426 |
534.204 |
|
Short term borrowings |
0.000 |
91.787 |
232.043 |
|
Total
borrowings |
22.357 |
268.213 |
766.247 |
|
Debt/Equity
ratio |
0.049 |
0.587 |
1.999 |
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 |
1615.240 |
1567.788 |
1519.580 |
|
|
|
(2.938) |
(3.075) |
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 |
1615.240 |
1567.788 |
1519.580 |
|
Profit / (Loss) |
73.408 |
(3.722) |
(73.340) |
|
|
4.54% |
(0.24%) |
(4.83%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
32.650 |
0.000 |
NA |
|
|
|
|
|
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
OPERATIONS:
The Company is engaged in manufacturing of Coated Duplex/Triplex Boards and Folding Box Boards segment. The end uses of the products of the Company, after the same is printed/converted by independent converters, are highly diversified and some typical applications are in Pharmaceuticals, Toiletries, Cosmetics and Health Care products, readymade Garments, Instant Food Products, Match Boxes, Agarbatty segments, Cigarette packing, wedding cards, besides many other packaging requirements. The applications of the Coated Boards are well diversified and ever expanding. This segment of the industry has witnessed a healthy growth over the past decade and is expected to continue to grow annually at a rate approximately 7%.
The production for the year was 48571 MT against 50541 MT in the previous year and the sales and other related income including interest for the year was at Rs. 1620.300 Millions as against Rs.1663.700 Millions in the previous year. The gross Loss for the year is Rs. 43.200 Millions and the loss after tax is at Rs. 73.300 Millions.
The loss that the company has had in the current financial can be attributed to the adverse market situation. Owing to the poor market situation, even though the costs were increasing, the same could not be passed on to the consumers and the realization of the company also fell as compared to corresponding period. Also, due to unforeseen circumstances the plant had to be kept shut for a period of 20 days during which the company had to bear all its fixed costs.
The Company has been continuously adopting multipronged activities to be a competitive and low cost producer, and always looks to maximize productivity of the available resources.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Deposits from others |
22.961 |
22.957 |
|
Short-term borrowings |
|
|
|
Intercorporate borrowings |
40.925 |
45.000 |
|
Loans and advances from related parties |
142.400 |
0.000 |
|
Total |
206.286 |
67.957 |
|
|
|
|
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10392194 |
27/05/2013 * |
406,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT NO. C-38 AND C-39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B77568863 |
|
2 |
10342059 |
27/05/2013 * |
174,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT NO. C-38 AND C-39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B77568988 |
|
3 |
10341975 |
01/03/2013 * |
170,000,000.00 |
STANDARD CHARTERED BANK |
CRESCENZO, 3A/F, PLOT NO. C-38 AND C-39, G BLOCK, BANDRA KURLA COMPLEX, BANDRA EAST, MUMBAI, MAHARASHTRA - 400051, INDIA |
B70722160 |
|
4 |
10124121 |
10/10/2013 * |
140,000,000.00 |
CORPORATION BANK |
CORPORATE BANKING BRANCH, 104 BHARAT HOUSE,, B. S. MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B88556154 |
* Date of charge modification
FIXED ASSETS
- Land
- Buildings
- Plant and equipment
- Furniture and fixtures
- Vehicles
- Office equipment
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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
31 |
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.