1. Summary Information
|
|
|
Country |
|
|
Company Name |
ESTEEM
INDUSTRIES PRIVATE LIMITED |
Principal Name 1 |
MR. AMOL ASHOK WALKE |
|
Status |
SATISFACTORY |
Principal Name 2 |
MR. KEKI PHEROZ GANDHI |
|
|
|
Registration # |
24-003056 |
|
Street Address |
PLOT NOS.76/77, PISSURLEM INDUSTRIAL ESTATE, PISSURLEM, SATTARI, GOA –
403 530 |
||
|
Established Date |
26.12.2001 |
SIC Code |
-- |
|
Telephone# |
91-832-6613228 |
Business Style 1 |
MANUFACTURER |
|
Fax # |
91-832-2362257 |
Business Style 2 |
EXPORTER |
|
Homepage |
Product Name 1 |
CHEMICALS |
|
|
# of employees |
350 (APPROXIMATELY) |
Product Name 2 |
-- |
|
Paid up capital |
RS.25,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS
OR RELATIVES OF DIRECTORS |
Banking |
HDFC BANK LIMITED |
|
Public Limited Corp. |
NO |
Business Period |
13 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (43) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
|
|
ASSOCIATE CONCERNS |
-- |
GRAND ORGANICS PRIVATE LIMITED |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
701,078,000 |
Current Liabilities |
348,248,000 |
|
Inventories |
145,693,000 |
Long-term Liabilities |
414,852,000 |
|
Fixed Assets |
250,180,000 |
Other Liabilities |
72,522,000 |
|
Deferred Assets |
25,000 |
Total Liabilities |
835,622,000 |
|
Invest& other Assets |
13,477,000 |
Retained Earnings |
249,831,000 |
|
|
|
Net Worth |
274,831,000 |
|
Total Assets |
1,110,453,000 |
Total Liab. & Equity |
1,110,453,000 |
|
Total Assets (Previous Year) |
882,761,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
2,003,097,000 |
Net Profit |
53,153,000 |
|
Sales (Previous yr)/ |
1,289,625,000 |
Net Profit(Prev.yr) |
37,878,000 |
MIRA
INFORM REPORT
|
Report Date : |
09.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ESTEEM INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot Nos.76/77, Pissurlem Industrial Estate, Pissurlem, Sattari, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
26.12.2001 |
|
|
|
|
Com. Reg. No.: |
24-003056 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.25.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24231GA2001PTC003056 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRE01476G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE9474F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Chemicals used in Textile Industry,
Leather Industry, etc. |
|
|
|
|
No. of Employees
: |
350 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1099000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an
established company having satisfactory track record. As per Registrar
of companies the date of balance sheet i.e. financials filed is shown as 31st
March, 2013 but the documents related to the financials for the year 2013 are
not available from any sources. The rating takes
into consideration intense competitive pressures due to fragmented industry
structure and low entry barriers. However, financial
position of the company seems to be decent during 2012. Trade relations
are reported to be fair. Business is active. Payment terms are reported to be
slow but correct. The company can
be considered for business dealing 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
NEWS
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 with 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 |
Term Loans: BB+ (Suspended) |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
October, 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non Fund Based Limits: A4+ (Suspended) |
|
Rating Explanation |
Have minimal degree of safety and carry very
high credit risk. |
|
Date |
October, 2013 |
Reason for Suspension: The suspension follows
ICRA inability to carry out a rating surveillance in the absence of the
requisite information from the company.
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 (GENERAL DETAILS)
|
Name : |
Mr. Sadanand Hegde |
|
Designation : |
Branch General Manager |
|
Contact No.: |
91-9763729387 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Plot Nos.76/77, Pissurlem Industrial Estate, Pissurlem, Sattari, Goa –
403 530, India |
|
Tel. No.: |
91-832-6613228/ 2352001/ 2352002/ 2352003/ 2352004/ 6616607 |
|
Mobile No.: |
91-9763729387 (Mr. Sadanand) |
|
Fax No.: |
91-832-2362257 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
7500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Bicholim Industrial Estate, Bicholim, |
|
Tel. No.: |
91-832-6613228 |
|
Area : |
7500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 3 : |
Wada Plot No.1 & 3, Gut No.189/1, 189/2, 191/2, 191/6 Village:
Alonde, Taluka: Vikramgad, District: Thane – 401 605, Maharashtra, India |
|
|
|
|
Branch Office : |
1207, Navjivan-3, Lamington Road, Mumbai – 400 008, Maharashtra,
India |
|
Tel. No.: |
91-22-23002030 |
|
Fax No.: |
91-22-23002031 |
|
Area : |
150 sq. ft. |
|
Location : |
Rented |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Amol Ashok Walke |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
D-29, Shushila Housing Board Colony, Mapusa, Bardez, Goa – 403 507,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
31.10.1983 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
PHD in Chemical |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.01.2002 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00664315 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AAKPW7932R |
||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Keki Pheroz Gandhi |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
1-2, H. No.19, Hari Niwas, Mathew Marg, Mumbai – 400 004, Maharashtra,
India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.02.1937 |
||||||||||||||||||||||||||||||||||||
|
Qualification : |
Graduate |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
21.01.2002 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00664567 |
||||||||||||||||||||||||||||||||||||
|
PAN No.: |
AJQPG4864K |
||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Mr. Sadanand Hegde |
|
Designation : |
Branch General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Keki Gandhi |
125000 |
50.00 |
|
Anjali Walke |
112500 |
45.00 |
|
Amol Walke |
12500 |
5.00 |
|
Total |
250000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Chemicals used in Textile Industry,
Leather Industry, etc. |
|
|
|
|
Exports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
Sri Lanka ·
Bangladesh ·
UK ·
US ·
Japan ·
Germany, etc. |
|
|
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
350 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· The Saraswat Co-Operative Bank Limited, Tristar Building, 2nd Floor, EDC Complex, Patto Plaza, Panjim, Goa – 403 001, India · HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India · ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Vadodara – 390 015, Gujarat, India · The Royal Bank of Scotland N.V., 4, North Avenue, Level 3, Maker Maxity, Bandra Kurla Complex, Bandra East, Mumbai – 400 051, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial
Institutions : |
· Pyramid Finance Private Limited, Salgaocar House, F Luis Gomes Road, Vasco Da Gama, Goa – 403 802, India · Tata Capital Financial Services Limited, One Forbes, Dr. V.B. Gandhi Marg, Fort, Mumbai – 400 001, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
B Y and Associates Chartered Accountants |
|
Address : |
510-513, Apeejay House, 130, Mumbai Samachar Marg, Fort,
Mumbai – 400 023, Maharashtra, India |
|
PAN No.: |
AAFFB0462N |
|
|
|
|
Associate Concerns : |
· Grand Organics Private Limited (CIN No.: U24119GA1994PTC001573) · Venus Ethoxyethers Private Limited (CIN No.: U24119GA1990PTC001099) · VIC Industries |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners
with Key management personnel and their relatives : |
Dyna Glycols Private Limited (CIN No.: U24119MH2006PTC164262) |
CAPITAL STRUCTURE
AFTER 30.09.2013
Authorised Capital : Rs.50.000 millions
Issued, Subscribed & Paid-up Capital : Rs.50.000
millions
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.100/-
each |
Rs.25.000
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
25.000 |
25.000 |
|
(b) Reserves & Surplus |
|
249.831 |
196.677 |
|
(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) |
|
274.831 |
221.677 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
135.179 |
77.390 |
|
(b) Deferred tax liabilities (Net) |
|
12.620 |
2.495 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) Long-term
provisions |
|
59.902 |
42.901 |
|
Total Non-current
Liabilities (3) |
|
207.701 |
122.786 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
279.673 |
280.698 |
|
(b)
Trade payables |
|
281.588 |
223.218 |
|
(c)
Other current liabilities |
|
66.660 |
34.382 |
|
(d) Short-term
provisions |
|
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
|
627.921 |
538.298 |
|
|
|
|
|
|
TOTAL |
|
1110.453 |
882.761 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
250.180 |
196.581 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
13.477 |
8.458 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
63.086 |
59.395 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
326.768 |
264.459 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
145.693 |
109.298 |
|
(c)
Trade receivables |
|
474.993 |
338.096 |
|
(d) Cash
and cash equivalents |
|
53.157 |
49.046 |
|
(e)
Short-term loans and advances |
|
109.842 |
121.862 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
783.685 |
618.302 |
|
|
|
|
|
|
TOTAL |
|
1110.453 |
882.761 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
25.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
146.300 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
171.300 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
224.801 |
|
|
2] Unsecured Loans |
|
|
27.930 |
|
|
TOTAL BORROWING |
|
|
252.731 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
424.031 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
89.809 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.025 |
|
|
DEFERRED TAX ASSETS |
|
|
1.125 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
56.112 |
|
|
Sundry Debtors |
|
|
243.540 |
|
|
Cash & Bank Balances |
|
|
50.491 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
111.475 |
|
Total
Current Assets |
|
|
461.618 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
96.706 |
|
|
Other Current Liabilities |
|
|
0.439 |
|
|
Provisions |
|
|
31.401 |
|
Total
Current Liabilities |
|
|
128.546 |
|
|
Net Current Assets |
|
|
333.072 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
424.031 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operation |
2003.097 |
1289.625 |
878.068 |
|
|
|
Other Income |
7.690 |
7.263 |
5.595 |
|
|
|
TOTAL (A) |
2010.787 |
1296.888 |
883.663 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
1185.373 |
701.755 |
|
|
|
Employees Remuneration |
|
|
21.358 |
|
|
|
Operating and Establishment Expenses |
|
|
70.286 |
|
|
|
Selling and Administrative Expenses |
|
|
8.473 |
|
|
|
TOTAL (B) |
1832.106 |
1185.373 |
801.872 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
178.681 |
112.368 |
81.791 |
|
|
|
|
|
|
|
|
|
|
INTEREST (D) |
71.518 |
44.582 |
42.274 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
107.163 |
67.786 |
39.517 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION (F) |
27.885 |
13.935 |
9.118 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
79.278 |
53.851 |
30.399 |
|
|
|
|
|
|
|
|
|
|
TAX (H) |
26.125 |
15.120 |
13.258 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
53.153 |
37.878 |
17.141 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
184.178 |
146.300 |
129.159 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
237.331 |
184.178 |
146.300 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
212.62 |
151.51 |
68.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.64
|
2.92 |
1.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.96
|
4.18 |
3.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.23
|
6.16 |
5.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.24 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.51
|
1.62 |
1.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.15 |
3.59 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
|
25.000 |
25.000 |
|
Reserves & Surplus |
|
196.677 |
249.831 |
|
Share Application money pending allotment |
|
0.000 |
0.000 |
|
Net worth |
|
221.677 |
274.831 |
|
|
|
|
|
|
Long-term borrowings |
|
77.390 |
135.179 |
|
Short term borrowings |
|
280.698 |
279.673 |
|
Total borrowings |
|
358.088 |
414.852 |
|
Debt/Equity ratio |
|
1.615 |
1.509 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income from Operation |
878.068 |
1289.625 |
2003.097 |
|
|
|
46.871 |
55.324 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Income from Operation |
878.068 |
1289.625 |
2003.097 |
|
Profit |
17.141 |
37.878 |
53.153 |
|
|
1.95% |
2.94% |
2.65% |
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 |
Yes |
|
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 |
No |
|
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 |
10503243 |
03/06/2014 |
8,200,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS GOMES
ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
C06755896 |
|
2 |
10482224 |
17/02/2014 |
3,100,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS
GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B98357346 |
|
3 |
10479438 |
17/02/2014 |
7,540,158.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B97141121 |
|
4 |
10468268 |
03/01/2014 * |
466,500,000.00 |
CANARA BANK |
NARAYAN BUILDING, II FLOOR,
KURLA ANDHERI ROAD, SME SAKINAKA, MUMBAI, MAHARASHTRA - 400072, INDIA |
B94047958 |
|
5 |
10452593 |
11/09/2013 |
20,000,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS
GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B86488830 |
|
6 |
10436879 |
19/06/2013 |
11,100,000.00 |
THE SARASWAT CO OP BANK
LIMITED |
TRISTAR BUILDING, 2ND
FLOOR, EDC COMPLEX, PATTO PLAZA, PANJIM, GOA, GOA - 403001, INDIA |
B79641353 |
|
7 |
10429469 |
30/04/2013 |
1,110,803.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B76471812 |
|
8 |
10421095 |
02/04/2013 |
21,000,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS GOMES
ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B73574071 |
|
9 |
10406356 |
29/01/2013 |
4,000,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS
GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B68791482 |
|
10 |
10403073 |
08/01/2013 |
3,820,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS
GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B68098581 |
|
11 |
10376284 |
05/09/2012 |
3,000,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS GOMES
ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B58013178 |
|
12 |
10357474 |
08/05/2012 |
2,400,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS
GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B40288482 |
|
13 |
10352433 |
20/04/2012 |
31,500,000.00 |
PYRAMID FINANCE PRIVATE
LIMITED |
SALGAOCAR HOUSE, F LUIS
GOMES ROAD, VASCO DA GAMA, GOA, GOA - 403802, INDIA |
B38480265 |
|
14 |
10342116 |
07/03/2012 |
3,870,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B35002708 |
|
15 |
10289638 |
20/05/2011 |
70,000,000.00 |
SBI GLOBAL FACTORS
LIMITED |
6TH FLOOR, METROPOLITAN BUILDING,
BANDRA-KURLA, COMPLEX, BANDRA(EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B14060354 |
|
16 |
10227685 |
18/06/2010 |
600,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
TRISATR BUILDING , 2ND FLOOR,
EDC BUILDING, PATTO PLAZA, PANAJI, GOA - 403001, INDIA |
A89086789 |
|
17 |
10184042 |
19/10/2009 |
25,400,000.00 |
THE SARASWAT CO-OPERATIVE
BANK LIMITED |
TRISTAR BUILDING, 2ND
FLOOR,EDC COMPLEX, PATTO PLAZA,, PANJIM, GOA - 403001, INDIA |
A72764228 |
|
18 |
10122827 |
11/09/2008 |
71,500,000.00 |
3I INFOTECH TRUSTEESHIP
SERVICES LIMITED |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX,
VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A46104964 |
|
19 |
10126505 |
09/09/2008 |
71,500,000.00 |
3I INFOTECH TRUSTEESHIP
SERVICES LIMITED |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK,, TOWER NO.5, VASHI RAILWAY STATION COMPLEX,
VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A49198450 |
|
20 |
10089909 |
12/12/2007 |
35,000,000.00 |
3I INFOTECH TRUSTEESHIP
SERVICES LIMITED |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK,, T OWER NO.5, VASHI RAILWAY STATION COMPLEX,
VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A31933492 |
|
21 |
10087701 |
30/11/2007 |
35,000,000.00 |
3I INFOTECH TRUSTEESHIP
SERVICES LIMITED |
3RD TO 6TH FLOOR,
INTERNATIONAL INFOTECH PARK, TOWER NO.5, VASHI RAILWAY STATION COMPLEX,
VASHI, NAVI MUMBAI, MAHARASHTRA - 400703, INDIA |
A31931900 |
|
22 |
80008699 |
02/08/2006 |
187,000,000.00 |
ICICI BANK LIMITED |
MUMBAI, MUMBAI,
MAHARASHTRA - 400051, INDIA |
- |
|
23 |
80008801 |
12/03/2013 * |
305,000,000.00 |
ICICI BANK LIMITED |
LANDMARKRACE COURCE
CIRCLE, ALKAPURI, BARODA, GUJARAT - 390015, INDIA |
B71856348 |
* Date of charge modification
|
Unsecured
Loans |
31.03.2012 (Rs. in
Millions) |
31.03.2011 (Rs. in
Millions) |
|
LONG
TERM BORROWINGS |
|
|
|
Term
loans from Banks |
|
|
|
(a) HDFC Bank Limited, Terms of Repayment: 29
EMI s of Rs.0.071 million each @ ROI 16.50% |
1.067 |
0.000 |
|
(b) Kotak Mahindra Bank Limited, Terms of
Repayment: 6 EMI s of Rs.0.293 million
each and 8 EMI s of Rs.0.190 million
each @ ROI 18.00% |
0.370 |
0.000 |
|
Loans and advances from related parties (Terms of Repayment have not been stipulated) |
20.805 |
21.568 |
|
Other
loans and advances |
|
|
|
From Other Parties |
|
|
|
Bajaj Finance Limited Terms of Repayment:
26 EMI s of Rs.0.075 million each @ ROI
15.10% |
0.962 |
0.000 |
|
Magma Fincorp Limited Terms of Repayment: 5
EMIs of Rs.0.153 million each, 12 EMIs
of Rs.0.131 million each and 12 EMIs
of Rs.0.080 million each @ ROI 17.61% |
1.404 |
0.000 |
|
Pyramid Finance Limited Terms of Repayment:
24 EMIs of Rs.0.222 million each @ ROI
15.50% |
3.336 |
0.000 |
|
Pyramid Finance Limited Terms of Repayment:
27 EMIs of Rs.0.278 million each @ ROI
15.75% |
3.334 |
0.000 |
|
Tata Capital Limited Terms of Repayment: 28
EMI s of Rs.0.122 million each @ ROI
15.50% |
1.761 |
0.000 |
|
|
|
|
|
SHORT
TERM BORROWINGS |
|
|
|
Loans repayable on demand from banks |
32.718 |
28.103 |
|
Loans repayable on demand from others |
23.728 |
18.280 |
|
Total |
89.485 |
67.951 |
FIXED ASSETS:
·
Land
·
Factory Buildings
·
Plant and Machinery
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
Vehicles
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.59.80 |
|
|
1 |
Rs.102.42 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
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 |
|
43 |
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.