MIRA
INFORM REPORT
|
Report Date : |
07.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
VILAS TRANSCORE LIMITED (w.e.f. 09.04.2011) |
|
|
|
|
Formerly Known
As : |
VILAS TRANSCORE PRIVATE LIMITED (w.e.f.
15.03.2007) BRAVIL POWERCORE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Savorite Complex,
Opposite Navneet Park, Near SNDT College, Old Padra Road, Vadodara – 390020,
Gujarat |
|
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|
|
Country : |
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|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
28.11.2006 |
|
|
|
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Com. Reg. No.: |
04-049469 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.30.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31102GJ2006PLC049469 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BRDV01119G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCV4397A |
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|
Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Subject is mainly engaged in business of manufacturing of CRGO Laminations,
Cores and Coils. |
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|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1400000 |
|
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|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. General financial position of the company seems to be sound and
healthy. Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. 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 |
Cash credit: BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
June 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Letter of credit: A3 |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
June 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 DECLINED BY
|
Name : |
Mr. Kalpesh Shah |
|
Designation : |
Vice President |
|
Contact No.: |
91-9328026767 |
|
Date : |
04.07.2014 |
LOCATIONS
|
Registered Office : |
2nd Floor, Savorite Complex,
Opposite Navneet Park, Near SNDT College, Old Padra Road, Vadodara – 390020,
Gujarat, India |
|
Tel. No.: |
91- 265-2350370 |
|
Mobile No.: |
91-9328026767 (Mr. Kalpesh Shah) |
|
Fax No.: |
Not Available |
|
E-Mail : |
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|
|
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Factory 1 : |
283-285, G.I.D.C. N.H. 8, Por-Ramangamdi
Industrial Estate District - Vadodara 391243,
Gujarat, India |
|
Tel. No.: |
91-265-2830718/ 2830719 |
|
|
|
|
Corporate Office: |
Plot No. 435 to 437, 440, 453, 457, Near Galaxy Hotel, N H No. 8,
Village – Por, District Vadodara
– 391243, Gujarat, India |
|
Tel. No.: |
91-265-2831853/54 |
|
Fax No.: |
91-265-2357805/3299797 |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Nilesh Jitubhai
Patel |
|
Designation : |
Director |
|
Address : |
26-A-B, Javerchand Park-2, |
|
Date of Birth/Age : |
28.10.1973 |
|
Date of Appointment : |
28.11.2006 |
|
DIN No.: |
00447907 |
|
|
|
|
Name : |
Mr. Niriksha Nilesh
Patel |
|
Designation : |
Director |
|
Address : |
26,Zavrchand Park Society, Opposite Rajaram
Society, Old Padra Road, Akota,
Vadodara – 390020, Gujarat, India |
|
Date of Birth/Age : |
26.08.1974 |
|
Date of Appointment : |
28.11.2006 |
|
DIN No.: |
01382832 |
|
|
|
|
Name : |
Mr. Manishbhai Jitubhai
Patel |
|
Designation : |
Additional director |
|
Address : |
A-4, Sonal Park Society, B/H Yash Comp, Gotri Road, Vadodara – 390021, Gujarat, India |
|
Date of Birth/Age : |
14.08.1969 |
|
Date of Appointment : |
10.02.2011 |
|
DIN No.: |
02997878 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh Shah |
|
Designation : |
Vice President |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Nilesh Jitubhai Patel |
|
2969000 |
|
Niriksha Nilesh Patel |
|
30950 |
|
Manish J Patel |
|
10 |
|
Dimple Patel |
|
10 |
|
Ajay Patel |
|
10 |
|
Kalpesh Shah |
|
10 |
|
Dipesh Shah |
|
10 |
|
Total |
|
3000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is mainly engaged in business of manufacturing of CRGO
Laminations, Cores and Coils. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
· ICICI Bank Limited, Landmarkrace Cource Circle, Alkapuri, Baroda - 390015, Gujarat, India ·
Yes Bank Limited, 9th Floor, Nehru Centre,
Discovery Of India, Dr. Annie Besant Road, Worli, Mumbai - 400018, Maharashtra,
India |
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Facilities : |
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Banking
Relations : |
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Financial Institute: |
3i Infotech Trusteeship Services
Limited, 3rd To 6th Floor, International Infotech
Park, Tower No.5, Vashi Railway Station Complex, Vashi, Navi Mumbai - 400703, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Naresh and Company Chartered Accountants |
|
Address : |
201-203 City Enclave, Opposite Polo Ground, Bagikhana,
Vadodara – 390001, Gujarat |
|
PAN N Income-tax PAN of auditor or auditor's firm : |
AACFM7595C |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 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 |
30.000 |
30.000 |
30.000 |
|
(b) Reserves & Surplus |
316.778 |
282.499 |
227.951 |
|
(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) |
346.778 |
312.499 |
257.951 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
180.193 |
155.324 |
73.830 |
|
(b) Deferred tax liabilities
(Net) |
21.264 |
15.090 |
9.076 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
201.457 |
170.414 |
82.906 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
125.390 |
162.576 |
149.591 |
|
(b) Trade payables |
137.323 |
124.347 |
115.001 |
|
(c) Other current liabilities |
13.327 |
25.987 |
9.550 |
|
(d) Short-term provisions |
12.934 |
18.931 |
33.794 |
|
Total
Current Liabilities (4) |
288.974 |
331.841 |
307.936 |
|
|
|
|
|
|
TOTAL |
837.209 |
814.754 |
648.793 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
211.289 |
194.726 |
76.868 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.438 |
0.501 |
7.012 |
|
(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 |
0.859 |
4.095 |
20.226 |
|
(e) Other Non-current assets |
27.026 |
16.492 |
1.699 |
|
Total
Non-Current Assets |
239.612 |
215.814 |
105.805 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
128.778 |
127.490 |
126.846 |
|
(c) Trade receivables |
292.222 |
323.114 |
259.491 |
|
(d) Cash and cash equivalents |
77.101 |
50.096 |
57.195 |
|
(e) Short-term loans and
advances |
99.496 |
98.125 |
99.456 |
|
(f) Other current assets |
0.000 |
0.115 |
0.000 |
|
Total
Current Assets |
597.597 |
598.940 |
542.988 |
|
|
|
|
|
|
TOTAL |
837.209 |
814.754 |
648.793 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SALES |
|
|
|
|
|
Income |
986.452 |
1128.100 |
1077.474 |
|
|
Other Income |
5.710 |
3.546 |
8.970 |
|
|
TOTAL
(A) |
992.162 |
1131.646 |
1086.444 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
791.267 |
862.800 |
905.626 |
|
|
Purchases of Stock-in-Trade |
0.000 |
31.410 |
34.666 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(2.511) |
1.513 |
(44.243) |
|
|
Employees benefits expense |
54.003 |
40.939 |
19.752 |
|
|
Other expenses |
46.229 |
64.348 |
46.289 |
|
|
Prior years income tax adjustment
|
0.105 |
0.095 |
0.000 |
|
|
TOTAL
(B) |
889.093 |
1001.105 |
962.090 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
103.069 |
130.541 |
124.354 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
38.961 |
44.594 |
18.693 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
64.108 |
85.947 |
105.661 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
11.805 |
6.777 |
3.959 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
52.303 |
79.170 |
101.702 |
|
|
|
|
|
|
|
Less |
TAX
(I) |
16.024 |
24.621 |
37.931 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
36.279 |
54.549 |
63.771 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
11.34 |
18.04 |
21.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.66 |
4.82 |
5.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.30 |
7.02 |
9.44 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.25 |
9.72 |
15.85 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.25 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.88 |
1.02 |
0.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.07 |
1.80 |
1.76 |
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 |
30.000 |
30.000 |
30.000 |
|
Reserves & Surplus |
227.951 |
282.499 |
316.778 |
|
Net
worth |
257.951 |
312.499 |
346.778 |
|
|
|
|
|
|
long-term borrowings |
73.830 |
155.324 |
180.193 |
|
Short term borrowings |
149.591 |
162.576 |
125.390 |
|
Total
borrowings |
223.421 |
317.900 |
305.583 |
|
Debt/Equity
ratio |
0.866 |
1.017 |
0.881 |
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 |
1077.474 |
1128.100 |
986.452 |
|
|
|
4.699 |
(12.556) |
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 |
1077.474 |
1128.100 |
986.452 |
|
Profit |
63.771 |
54.549 |
36.279 |
|
|
5.92% |
4.84% |
3.68% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
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 |
-- |
|
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 |
FINANCIAL RESULTS:
The business of manufacturing of lamination, cores, transformers and related products. The Company has achieved a turnover of Rs. 9864.52 lacs which is about 10% lower compared to earlier year in terms of value and in terms of volume also. Due to the slow global economic recovery and the sluggish power sector, it was a difficult year in terms of maintaining volumes. Further, there is a lot of new competition in the sector majorly due to the fact that overseas steel mills from which they source their materials are setting up their own operations in India or doing direct supply making it difficult to maintain volumes and also the margins since it is difficult to compete with direct suppliers on margin. Further the prices also fluctuated during the year resulting in more difficulty in maintaining margins. Yet due to aggressive strategies on various fronts and the relentless efforts of the Directors, the Company managed to substantially sustain the volumes. However, the overall margin was down by about 1-2%.
Further, the rupee-dollar equation was also negative which resulted in continued loss on forex front. However, the depreciation was not as steep as in preceding year resulting in relatively lesser losses on this front. But still it resulted in washing away of some of the profits. Also with the recent acquisition of new machines being put to use there was a much higher depreciation charge also. Further there was the normal increase in employee’s costs too. This led to sharp fall in the profits. The final PBT stood at Rs. 52.400 Millions, a fall by about 30% year on year. However, the same could have been much higher but due to efficient financial planning, the finance costs were kept in check and there was strict control over other costs too which checked the fall in PBT largely.
All in all it was another difficult year with very few favourable factors and numerous negative factors. Net PAT of Rs. 34.279 Millions was still reasonable considering the extremely tough year on all fronts and management is happy to have achieved the same in view of the overall scenario and numerous negative factors for the segment to which their Company belongs.
For the coming year also the outlook in not very positive. The economic revival is slower than expected. In terms of policymaking also the upcoming elections will mean that concrete measures may not be taken. Competition continues to increase and margins continue to be under pressure. The year will once again be tough in terms of volume but with the current and potential order book and relentless efforts, they still expect to be able to retain their top line in the coming year and in all probability register a growth both in terms of volume and value. Also effect of the negative factors such as falling materials price are expected to moderate out in the coming year. But the negativity in rupee-dollar equation will hurt substantially. The early part of the year has seen a drastic depreciation in rupee from around Rs. 55 per dollar to lows of around Rs. 69 per dollar which has already resulted in huge forex losses. They are hoping for the same to reduce and stabilise to enable us to recoup some losses and control further losses. Their hedging strategies are also being re-looked but the fall has already hit us hard. The margins will also remain weak on account of competition, but with the enhanced turnover and better cost and forex management, they will try and even it out in terms of impact on profitability.
Overall it is expected to be a positive year for growth but may not be very good in terms of profitability. However, with a combination of efficient production, timely delivery, aggressive strategies on various fronts and the relentless efforts they shall definitely do their best to deliver a better year ahead both in terms of top line and profit growth
GENERAL INFORMATION
OF THE COMPANY:
The company was originally incorporated in the November 2006 Bravil Powercore Private Limited with the principal objects of dealing in Transformer Lamination and Cores. Subsequently, before commencement of business, the company changed its name to Vilas Transcore Private Limited on 15/03/2007. The Company then took over the running business of M/s. Vilas Transcore, a proprietary concern, of current .Managing Director, Mr. Nilesh Patel, w.e.f. 0 1.04.2007.
Thereafter pursuant to shareholder resolution dated 22th February 20 1 1 the company was converted to a "Limited" company with fresh Certificate of Incorporation received on 9th April 2011. Since then the company has been functioning as a Limited Company. The company is at present mainly engaged in business of manufacturing of CRGO Laminations, Cores and Coils. The Company has been consistently around the Rs.1000.000 Millions turnover mark since past few years and has a healthy profit track.
UNSECURED LOAN
|
PARTICULARS |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
Long-term
Borrowings |
|
|
|
From related parties |
71.028 |
77.666 |
|
Total |
71.028 |
77.666 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10397646 |
12/12/2012 |
20,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B66118266 |
|
2 |
10289455 |
12/12/2012 * |
424,500,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B66117987 |
|
3 |
10289362 |
26/05/2011 |
11,200,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B13936125 |
* Date of charge modification
CONTINGENT
LIABILITIES:
(Rs. in millions)
|
PARTICULARS |
31.03.2012 |
|
Duty saved on capital import under EPCG license Incl. Interest for 10 years |
17.624 |
|
Duty saved on capital import under EPCG license Incl. Interest for 8 years |
16.979 |
FIXED ASSETS
·
Land
·
Building
·
Plant and Machinery
·
Electrical Installation
·
Tools and Equipment
·
Air conditioner
·
Air cooler Fax Machinery
·
Mobile Phone
·
Office Equipment
·
Tyre Writer
·
Computer
·
Furniture and Fixture
·
Cycle
·
Vehicle
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 : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.