MIRA INFORM REPORT
|
Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
UP TWIGA FIBER GLASS LIMITED |
|
|
|
|
Registered
Office : |
9 Sikandrabad Industrial Area , District Bulandshahar - 203205, Uttar
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
22.05.1976 |
|
|
|
|
Com. Reg. No.: |
20-004284 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.81.779 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26101UP1976PLC004284 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACU4290P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Glass Wool Insulation. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
A (62) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is jointly promoted by Mr. Pradip Somaia and the Uttar Pradesh
Government and some financial institutions. It is a well established company
having fine track record. Management has filed the latest financial information of FY 13 with
the government department but, due to some internal technical issues
prevailing in the department we could not provide same, However, the partial
financials are made available from the indirect source i.e. CRISIL. As per available, the company possesses a strong financial profile
marked by adequate networth base low gearing and adequate debt protection
metrics. Management has reported a better growth in its sales volume as well as
net profitability during FY14. The ratings also take into consideration the susceptibility of
operating margin to volatility in raw material prices which are further
mitigated by technical expertise extended by “Isover Saint Gobain” one of the
world’s largest player in the said industry. Trade relations are fair. Business is active. Payment terms are
reported as regular and as per commitments. In views of experienced promoters, the subject can be considered good
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 |
CRISIL |
|
Rating |
A (Long term rating) |
|
Rating Explanation |
Adequate degree of safety and low credit
risk. |
|
Date |
October 14, 2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A1 (Short term rating) |
|
Rating Explanation |
Very strong degree of safety and lowest credit
risk. |
|
Date |
October 14, 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. K L Gupta |
|
Designation : |
Commercial Department |
|
Contact No.: |
91-5735-224136 |
|
Date : |
03.07.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
9 Sikandrabad Industrial Area, District Bulandshahar - 203205, Uttar
Pradesh, India |
|
Tel. No.: |
91-5735-222385/ 224136/ 222374 |
|
Fax No.: |
91-5735-222509 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
Twiga House, 3 Community Centre, East of Kailash, New
Delhi - 110065, India |
|
Tel. No.: |
91-11-2646 0860 |
|
Fax No.: |
91-11-2643 1588/ 2622 6474 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
N-40 Additional Ambernath Industrial Area, MIDC, Shill
Badlapur Road, Ambernath East, Thane-421506, Maharashtra, Indai |
|
Tel. No.: |
91- 251-2620 484/85/86/47 |
|
Fax No.: |
91- 251-262 0171 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Kolkata: Flat No. 16, 6th Floor, Shantiniketan, 8, Camac Street, Kolkata - 700017, West Bengal, India Tel. No.: 91-33-22829245 Fax No.: 91-33-22829530 E-Mail :twigakol@dataone.in Ahmedabad: 4/4, Shreeji House, Behind M.J. Library , Ellis Bridge, Ahmedabad - 380006, Gujarat, India Tel. No.: 91-79-26575422 Fax No.: 91-79-26575298 E-Mail : twigaahmedabad@dataone.in Mumbai: 502, Tulsiani Chambers, Plot No. 212, Block III, Backbay Reclamation, Nariman Point, Mumbai
- 400021, Maharashtra, India Tel. No.: 91-22-22833951/22835073 Fax No.: 91-22-22837487 E-Mail : twigamumbai@hathway.com Hyderabad: House No. 6-3-668/10/33, Durganagar Colony, Punjagutta,
Hyderabad 500082, Andhra Pradesh, India Tel. No.: 91-40-66689527 Fax No.: 91-40-23416689 E-Mail : twiga_hyd@dataone.in Bangalore: No. 28/3, 1st Floor,23rd Cross, Banashankari IInd Stage
Main Road, Tel. No.: 91-80-26712510/ 26712188 Fax No.: 91-80-26712188 E-Mail : twigabangalore@bsnl.in Chennai: No. 16, 2nd Floor, Mahalingapuram Main Road,
Mahalingapuram, Chennai- 600034, Tamilnadu, India Tel. No.: 91-44-28171945/42059700/28171944 Fax No.: 91-44-28171946 E-Mail : twiga.chennai@airtelmail.in |
DIRECTORS
As on: 31.07.2012
|
Name : |
Mr. Pradip Devram Somaia |
|
Designation : |
Managing director |
|
Address : |
11, Southern Avenue, Maharani Bagh, New Delhi-110065, India |
|
Date of Birth/Age : |
21.10.1934 |
|
Qualification : |
B Sc |
|
Date of Appointment : |
01.01.2010 |
|
DIN No.: |
00059321 |
|
|
|
|
Name : |
Mr. Binoy Somaia |
|
Designation : |
Managing director |
|
Address : |
11, Southern Avenue, Maharani Bagh, New Delhi-110065, India |
|
Date of Birth/Age : |
24.08.1970 |
|
Qualification : |
M Eng, University of London and MBA, Harvard |
|
Date of Appointment : |
31.07.2012 |
|
PAN No.: |
AASPS8237K |
|
DIN No.: |
00059139 |
|
|
|
|
Name : |
Mr. Bejul Somaia |
|
Designation : |
Director |
|
Address : |
11, Southern Avenue, Maharani Bagh, New Delhi-110065, India |
|
Date of Birth/Age : |
27.11.1972 |
|
Qualification : |
BSc (Econ.), LSE and MBA, Harvard |
|
Date of Appointment : |
31.07.2009 |
|
PAN No.: |
ABDPS5006N |
|
DIN No.: |
00059201 |
|
|
|
|
Name : |
Mr. Aditya Pratap Tripathi |
|
Designation : |
Director |
|
Address : |
D-157, Defence Colony, New Delhi-110024, India |
|
Date of Birth/Age : |
05.02.1969 |
|
Qualification : |
Bsc Hons, MBA |
|
Date of Appointment : |
31.07.2012 |
|
DIN No.: |
02259975 |
|
|
|
|
Name : |
Mr. Prabhu Dutt |
|
Designation : |
Director |
|
Address : |
C-1/1557, Vasant Kunj, New Delhi-110070, India |
|
Date of Birth/Age : |
08.11.1950 |
|
Qualification : |
Bsc (Hons) Physics, MBA |
|
Date of Appointment : |
23.07.2010 |
|
DIN No.: |
00031147 |
|
|
|
|
Name : |
Mr. Narendra Nath Goyal |
|
Designation : |
Whole-time director |
|
Address : |
F-93, Sector-39, Noida-201301, Uttar Pradesh, India |
|
Date of Birth/Age : |
06.08.1946 |
|
Qualification : |
B. Tech (Mech), DBM |
|
Date of Appointment : |
31.07.2012 |
|
PAN No.: |
AADPG8975B |
|
DIN No.: |
00049959 |
|
|
|
|
Name : |
Mr. Gurmit Singh Bains |
|
Designation : |
Whole-time director |
|
Address : |
Staff Quarters Works U.P. Twiga Fiber Glass Limited, 9-Sikandrabad Industrial
Area, Bulandshahr-203205, Uttar Pradesh, India |
|
Date of Birth/Age : |
02.02.1943 |
|
Qualification : |
F.I.E., C. Engg. A.M. Ae. S.I. |
|
Date of Appointment : |
31.07.2012 |
|
PAN No.: |
ACXPB6385N |
|
DIN No.: |
00031195 |
KEY EXECUTIVES
|
Name : |
Mr. K L Gupta |
|
Designation : |
Commercial Department |
|
|
|
|
Name : |
Mr. Naresh Kumar Sharma |
|
Designation : |
Secretary |
|
Address : |
G-21A, Kalkaji, New Delhi-110019, India |
|
Date of Birth/Age : |
24.04.1978 |
|
Date of Appointment : |
12.02.2009 |
|
PAN No.: |
AYQPS9648N |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 31.07.2012
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on: 31.07.2012
|
Category |
|
Percentage |
|
Government Companies |
|
5.32 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
91.97 |
|
Bodies corporate |
|
0.68 |
|
Other top fifty shareholders |
|
0.44 |
|
Others |
|
1.59 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Glass Wool Insulation. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kumar Grover and Company Chartered Accountants |
|
Address : |
107, Kailash Hills, New Delhi-110065, India |
|
PAN No.: |
AAAFK6217B |
|
|
|
|
Associates : |
M G Electronics Limited U74899DL1969PLC005030 |
|
|
|
|
Holding company : |
Rotar Limited |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
13750000 |
Equity Shares |
Rs.10/- each |
Rs.137.500 Millions |
|
125000 |
Preference Shares |
Rs.100/- each |
Rs.12.500 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.150.000 Millions
|
Issued Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8228325 |
Equity Shares |
Rs.10/- each |
Rs.82.283 Millions |
|
|
|
|
|
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8192825 |
Equity Shares |
Rs.10/- each |
Rs.81.726 Millions |
|
|
Add: Forfeited Shares |
|
Rs.0.053
Million |
|
|
|
|
|
|
|
Total |
|
Rs.81.779 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
30.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
81.779 |
81.779 |
|
(b) Reserves & Surplus |
|
889.951 |
770.760 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
971.730 |
852.539 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
2.000 |
85.079 |
|
(b) Deferred tax liabilities
(Net) |
|
44.503 |
51.712 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
4.637 |
10.459 |
|
Total
Non-current Liabilities (3) |
|
51.140 |
147.250 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
77.857 |
0.835 |
|
(b) Trade payables |
|
49.432 |
84.318 |
|
(c) Other current liabilities |
|
114.862 |
126.558 |
|
(d) Short-term provisions |
|
10.691 |
5.209 |
|
Total
Current Liabilities (4) |
|
252.842 |
216.920 |
|
|
|
|
|
|
TOTAL |
|
1275.712 |
1216.709 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
570.251 |
595.643 |
|
(ii) Intangible Assets |
|
0.695 |
0.695 |
|
(iii) Capital work-in-progress |
|
0.000 |
3.025 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.378 |
0.372 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
33.538 |
15.231 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
604.862 |
614.966 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
169.814 |
215.552 |
|
(c) Trade receivables |
|
221.966 |
238.559 |
|
(d) Cash and cash equivalents |
|
237.840 |
88.275 |
|
(e) Short-term loans and
advances |
|
41.230 |
59.357 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
670.850 |
601.743 |
|
|
|
|
|
|
TOTAL |
|
1275.712 |
1216.709 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
81.779 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
686.468 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
768.247 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
219.958 |
|
|
2] Unsecured Loans |
|
|
2.000 |
|
|
TOTAL BORROWING |
|
|
221.958 |
|
|
DEFERRED TAX LIABILITIES |
|
|
55.887 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1046.092 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
694.439 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.372 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
165.312 |
|
|
Sundry Debtors |
|
|
202.791 |
|
|
Cash & Bank Balances |
|
|
70.324 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
124.056 |
|
Total
Current Assets |
|
|
562.483 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
69.402 |
|
|
Other Current Liabilities |
|
|
67.737 |
|
|
Provisions |
|
|
74.063 |
|
Total
Current Liabilities |
|
|
211.202 |
|
|
Net Current Assets |
|
|
351.281 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1046.092 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SALES |
|
|
|
|
|
Income |
1338.990 |
1134.557 |
981.739 |
|
|
Other Income |
37.702 |
16.858 |
11.445 |
|
|
TOTAL
(A) |
1376.692 |
1151.415 |
993.184 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
416.975 |
365.169 |
|
|
|
Purchases of Stock-in-Trade |
9.556 |
0.000 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(5.990) |
(8.000) |
|
|
|
Employees benefits expense |
124.427 |
102.509 |
|
|
|
Exceptional Items |
(7.501) |
(5.023) |
|
|
|
Other expenses |
586.568 |
491.271 |
|
|
|
TOTAL
(B) |
1124.035 |
945.926 |
789.174 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
252.657 |
205.489 |
195.010 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
16.833 |
21.642 |
26.969 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
235.824 |
183.847 |
168.041 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
73.538 |
62.163 |
66.916 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
162.286 |
121.684 |
101.125 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
42.099 |
36.396 |
32.271 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
120.187 |
85.288 |
68.854 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
727.347 |
642.059 |
573.205 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
847.534 |
727.347 |
642.059 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
70.756 |
46.066 |
60.617 |
|
|
TOTAL
EARNINGS |
70.756 |
46.066 |
60.617 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
|
159.709 |
156.481 |
|
|
Components and Stores parts |
|
22.698 |
14.790 |
|
|
TOTAL
IMPORTS |
NA |
182.407 |
171.271 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
14.71 |
10.44 |
8.42 |
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
1270.000 |
|
|
|
|
(Due to market
fluctuation) |
The above information has been parted by Mr. K L Gupta
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
8.73 |
7.41 |
6.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.12 |
10.73 |
10.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.72 |
10.03 |
8.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17 |
0.14 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.08 |
0.10 |
0.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.65 |
2.77 |
2.66 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
81.779 |
81.779 |
|
Reserves & Surplus |
770.760 |
889.951 |
|
Net
worth |
852.539 |
971.730 |
|
|
|
|
|
long-term borrowings |
85.079 |
2.000 |
|
Short term borrowings |
0.835 |
77.857 |
|
Total
borrowings |
85.914 |
79.857 |
|
Debt/Equity
ratio |
0.101 |
0.082 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
981.739 |
1134.557 |
1338.990 |
|
|
|
15.566 |
18.019 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
981.739 |
1134.557 |
1338.990 |
|
Profit |
68.854 |
85.288 |
120.187 |
|
|
7.01% |
7.52% |
8.98% |
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 four years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
Yes |
|
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 |
UNSECURED LOAN
(Rs.
In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from others |
2.000 |
2.000 |
|
|
|
|
|
Total |
2.000 |
2.000 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90279362 |
06/04/2012 * |
255,500,000.00 |
State Bank Of India |
COMMERCIAL BRANCH COMMERCIAL BRANCH, A- 5 SOUTH EXTENSION, PARY-1, NEW DELHI, DELHI - 110049, INDIA |
B38107397 |
* Date of charge modification
FIXED ASSETS:
Tangible Assets
- Land
- Building
- Plant and Machinery
- Computers
- Electrical Incubation
- Furniture and Fixtures
- Office Equipments
- Vehicle
Intangible Assets
- Know-how
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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
62 |
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.