MIRA
INFORM REPORT
|
Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
INFINIUM PRECIOUS RESOURCES LIMITED (w.e.f.03.10.2011) |
|
|
|
|
Formerly Known As
: |
INFINIUM PRECIOUS RESOURCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Kirti Mandir Society, 106, Lady Jamshedji Road, P.O. Box 4652,
Mahim [West], Mumbai – 400016, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.09.2008 |
|
|
|
|
Com. Reg. No.: |
11-187080 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 96.138
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51420MH2008PLC187080 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCI9652G |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Precious Metals. |
|
|
|
|
No. of Employees
: |
80 (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 |
|
Maximum Credit Limit : |
USD 660000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company possesses a moderate financial profile marked by adequate
networth base and healthy gearing ratios along with modest working capital
intensive nature of its operations. Management has reported a sharp dip in its net profitability during
FY13 hurdled by low margin nature of the refining and minting business which
may further affect the business profile. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. In view of experience of the promoters in related businesses, the
subject can be considered for business dealings 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.
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 |
CARE |
|
Rating |
Long term Bank facilities = BB |
|
Rating Explanation |
Moderate risk of default regarding timely
servicing of financial obligations. |
|
Date |
December 30, 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 (GENERAL DETAILS)
|
Name : |
Mr. Umesh |
|
Designation : |
HR Executive |
|
Contact No.: |
91-22-61200100 |
|
Date : |
08.07.2014 |
LOCATIONS
|
Registered Office : |
2, Kirti Mandir Society, 106, Lady Jamshedji Road, P.O. Box 4652,
Mahim [West], Mumbai – 400016, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
91-22-24442684 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office/ Factory : |
Block C, Bombay Textile
Research Association, Lal Bahadur Shastri Road, Ghatkopar [West], Mumbai -
400086, Maharashtra, India |
|
Tel. No.: |
91-22-61200100 |
|
Fax No.: |
91-22-61200123 |
|
Location : |
Rented |
DIRECTORS
AS ON 20.09.2013
|
Name : |
Mr. Ganesh Shridhar Shanbhag |
|
Designation : |
Director |
|
Address : |
7, Lalat Cooperative Housing Society, Dilip Gupte Road, Mahim, Mumbai
– 400016, Maharashtra, India |
|
Date of Birth/Age : |
03.09.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
25.09.2008 |
|
PAN No.: |
AAGPS5256E |
|
DIN No.: |
00522952 |
|
|
|
|
Name : |
Mr. Prashant Arvind Rege |
|
Designation : |
Whole-time director |
|
Address : |
51, Belminte Tower, Opposite Bafna Apartments, Moghul Lane, Mahim
(West), Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
18.11.1968 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
25.09.2008 |
|
PAN No.: |
ABIPR5178D |
|
DIN No.: |
01585675 |
|
|
|
|
Name : |
Mr. Jayendra Jayant Salgaonkar |
|
Designation : |
Director |
|
Address : |
2 Radha Mandir, Ground Floor, 213 Sir Bhalchandra Road, Matunga,
Mumbai – 400019, Maharashtra, India |
|
Date of Birth/Age : |
16.01.1959 |
|
Qualification : |
B.Arch. |
|
Date of Appointment : |
23.08.2011 |
|
DIN No.: |
00017244 |
|
|
|
|
Name : |
Mr. Manish Dharanendra Ladage |
|
Designation : |
Director |
|
Address : |
Row No. 18, Vasant Vihar Pokharan Road, No. 2, Thane (West), Mumbai –
400601, Maharashtra, India |
|
Date of Birth/Age : |
22.04.1964 |
|
Qualification : |
C.A. |
|
Date of Appointment : |
25.04.2011 |
|
DIN No.: |
00082178 |
|
|
|
|
Name : |
Mr. Ramchandra Vaidya |
|
Designation : |
Director |
|
Address : |
J-55, Palm Acres, Mahatma Phule Road, Mulund (East), Mumbai – 400081,
Maharashtra, India |
|
Date of Birth/Age : |
07.04.1951 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
23.08.2011 |
|
DIN No.: |
00867838 |
|
|
|
|
Name : |
Mr. Shailesh Madhusudan Kotwal |
|
Designation : |
Director |
|
Address : |
7027, North Scottsdale Road, Unit 212, Scottsdale, Arizona, United
States 85253 |
|
Date of Birth/Age : |
26.04.1964 |
|
Qualification : |
C.A. |
|
Date of Appointment : |
23.08.2011 |
|
PAN No.: |
ARIPK1848B |
|
DIN No.: |
01295989 |
|
|
|
|
Name : |
Mr. Balachandran Padmanabha Kamath |
|
Designation : |
Director |
|
Address : |
New Panvel Cooperative Society, Flat No. 21, Sector 3, Plot No. 18,
New Panvel, Mumbai – 410206, Maharashtra, India |
|
Date of Birth/Age : |
27.05.1948 |
|
Qualification : |
M.E |
|
Date of Appointment : |
23.08.2011 |
|
DIN No.: |
03642406 |
KEY EXECUTIVES
|
Name : |
Mr. Umesh |
|
Designation : |
HR Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 20.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
9.41 |
|
Bodies
corporate |
3.12 |
|
Directors
or relatives of directors |
69.48 |
|
Other
top fifty shareholders |
17.99 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Precious Metals. |
||||||||||||||||
|
|
|
||||||||||||||||
|
Products/ Services : |
|
||||||||||||||||
|
|
|
||||||||||||||||
|
Terms |
|
||||||||||||||||
|
Selling : |
Cash and Credit |
||||||||||||||||
|
|
|
||||||||||||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Corporates |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
80 (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
· State Bank of India M.I.D.C., Andheri (East) Branch, Marol, Central Road,
Andheri (East), Mumbai - 400093, Maharashtra, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D.N. Kubal and Company Chartered Accountants |
|
Address : |
A/7, Anand Nagar, Sitladevi Temple Road, Maidm, Mumbai –
400016, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFD0955B |
|
|
|
|
Subsidiary Company
: |
· Bullion Brands Private Limited [U74900MH2011PTC212098] Pure Earth Technologies Private Limited
[U37100MH2011PTC212133] |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,613,833 |
Equity Shares |
Rs. 10/- each |
Rs. 96.138
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2013 |
31.03.2012 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
96.138 |
96.138 |
|
(b) Reserves & Surplus |
|
69.738 |
68.593 |
|
(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) |
|
165.876 |
164.731 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
10.000 |
10.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.396 |
|
(c) Other long
term liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
1.024 |
0.495 |
|
Total Non-current
Liabilities (3) |
|
11.024 |
10.891 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
|
113.412 |
62.516 |
|
(b)
Trade payables |
|
2.968 |
27.713 |
|
(c)
Other current liabilities |
|
12.753 |
4.747 |
|
(d) Short-term
provisions |
|
2.664 |
2.592 |
|
Total Current
Liabilities (4) |
|
131.797 |
97.568 |
|
|
|
|
|
|
TOTAL |
|
308.697 |
273.190 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
77.857 |
92.760 |
|
(ii)
Intangible Assets |
|
1.422 |
1.803 |
|
(iii)
Capital work-in-progress |
|
16.485 |
15.661 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.200 |
0.200 |
|
(c) Deferred tax assets (net) |
|
0.743 |
0.000 |
|
(d) Long-term Loan and Advances |
|
10.763 |
10.683 |
|
(e) Other
Non-current assets |
|
8.186 |
0.013 |
|
Total Non-Current
Assets |
|
115.656 |
121.120 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
158.216 |
120.864 |
|
(c)
Trade receivables |
|
27.143 |
9.912 |
|
(d) Cash
and cash equivalents |
|
4.309 |
4.376 |
|
(e)
Short-term loans and advances |
|
3.360 |
16.652 |
|
(f)
Other current assets |
|
0.013 |
0.266 |
|
Total
Current Assets |
|
193.041 |
152.070 |
|
|
|
|
|
|
TOTAL |
|
308.697 |
273.190 |
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
35.100 |
|
|
2] Share Application Money |
|
|
66.710 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
(0.492) |
|
|
NETWORTH |
|
|
101.318 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.009 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
101.327 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.113 |
|
|
Capital work-in-progress |
|
|
83.895 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.200 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
6.011 |
|
|
Sundry Debtors |
|
|
0.000 |
|
|
Cash & Bank Balances |
|
|
5.921 |
|
|
Other Current Assets |
|
|
0.002 |
|
|
Loans & Advances |
|
|
19.453 |
|
Total
Current Assets |
|
|
31.387 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
13.783 |
|
|
Other Current Liabilities |
|
|
0.503 |
|
|
Provisions |
|
|
0.000 |
|
Total
Current Liabilities |
|
|
14.286 |
|
|
Net Current Assets |
|
|
17.101 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.018 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
101.327 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1126.751 |
1187.040 |
5.376 |
|
|
|
Other Income |
2.866 |
0.530 |
0.275 |
|
|
|
TOTAL (A) |
1129.617 |
1187.570 |
5.651 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1023.153 |
1096.850 |
5.122 |
|
|
|
Purchases of Stock-in-Trade |
0.436 |
0.000 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
1.237 |
(1.700) |
0.000 |
|
|
|
Employees benefits expense |
26.040 |
25.338 |
0.079 |
|
|
|
Other expenses |
44.735 |
34.434 |
0.766 |
|
|
|
Exceptional Items |
0.000 |
0.000 |
0.005 |
|
|
|
TOTAL (B) |
1095.601 |
1154.922 |
5.972 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
34.016 |
32.648 |
(0.321) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
14.043 |
8.369 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
19.973 |
24.279 |
(0.321) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.316 |
19.563 |
0.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
1.657 |
4.716 |
(0.376) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.512 |
1.392 |
0.008 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
1.145 |
3.324 |
(0.384) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
0.12 |
0.42 |
(0.38) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.10
|
0.28 |
(6.80) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.15
|
0.40 |
(6.99) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.57
|
1.83 |
(1.19) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.01
|
0.03 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.74
|
0.44 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.56 |
2.20 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
96.138 |
96.138 |
|
Reserves & Surplus |
68.593 |
69.738 |
|
Net
worth |
164.731 |
165.876 |
|
|
|
|
|
long-term borrowings |
10.000 |
10.000 |
|
Short term borrowings |
62.516 |
113.412 |
|
Total
borrowings |
72.516 |
123.412 |
|
Debt/Equity ratio |
0.440 |
0.744 |
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 |
5.376 |
1187.040 |
1126.751 |
|
|
|
21,980.357 |
(5.079) |
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 |
5.376 |
1187.040 |
1126.751 |
|
Profit/ (Loss) |
(0.384) |
3.324 |
1.145 |
|
|
(7.14%) |
0.28% |
0.10% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
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 |
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 |
10305670 |
11/08/2011 |
170,000,000.00 |
STATE BANK OF INDIA |
M.I.D.C., ANDHERI (EAST) BRANCH, MAROL, CENTRAL ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA |
B20263190 |
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
10.000 |
10.000 |
|
|
|
|
|
Total |
10.000 |
10.000 |
OPERATIONS
During the second year of operations the company has
achieved sales turnover of Rs. 1126.751 Millions as compared to Rs. 1187.040
Millions for the previous year. Profit before Tax during the year is Rs. 1.657
Millions as against Rs. 4.717 Millions in the previous year. Net profit after
Tax for the year is Rs. 1.145 Millions as against Rs. 3.324 Millions in the
previous year. During the year company has manufactured variety of precious
metal products like Medallions, Minted Bars, Casted Bars, Plaques, Salvers,
Anodes etc. and sold to prestigious customers like Banks and other corporate
customers.
MANAGEMENT DISCUSSION
AND ANALYSIS REPORT
ECONOMIC SCENARIO AND
OUTLOOK
The Indian Gold industry will need to evolve beyond the conventional domains to sustain in a burgeoning Current Account Deficit scenario. In the period bygone the Rupee has shown considerable weakness thereby reflecting into a high level of volatility in the Indian Gold prices. The Reserve Bank of India has induced measures at monitoring the supply chain of Gold Imports into the country. The vigil is expected to become more stringent in the coming months.
As the largest consumer of Gold, India accounts for approximately 20% of the Worlds Gold Imports. As a Gold loving economy the demand will continue to outstrip the supply, however with the increasing trade deficit will warrant a more responsible approach to Gold as a commodity.
BUSINESS OUTLOOK
As they continue their journey to transform finite resources
into infinite expressions, they have walked a few more steps at creating a professionally
managed Metal Science and Recycling Company. Encompassing application areas of
identifiable investment, metal chemistry and metallurgy, their activities are
now managed as specialized business verticals at Minting, Performance
Materials, Recycling, Enviro-Energy Materials and Life Sciences. They connect
precious and rare earth elements with every walk of life.
FIXED ASSETS:
· Office building
Plant
and equipment
Factory
equipments
Other
plant and equipment
Furniture
and fixtures
Office
equipment
Computer
equipments
Other
equipments
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 : |
GYT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--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.