MIRA
INFORM REPORT
|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
ASSOCIATED CABLES PRIVATE LIMITED |
|
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|
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Registered
Office : |
2nd Floor, Ajanta House, 35, Marol Co-operative Industrial
Estate, |
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|
Country : |
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|
Financials (as
on) : |
31.03.2013 |
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|
Date of
Incorporation : |
27.07.1973 |
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Com. Reg. No.: |
11-016713 |
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Capital
Investment / Paid-up Capital : |
Rs.61.262
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1973PTC016713 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA22455G |
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|
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PAN No.: [Permanent Account No.] |
AABCA2809H |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Instrumentation Cables,
Thermocouple Cables, Control Cables, and Special Application Cables. |
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|
|
|
No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 877000 |
|
|
|
|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Profit margin of the company seems to be low. However, general financial position of the company seems to be decent.
Trade relations are fair. Business is active. Payment terms are slow
but correct. The company 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.
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 DENIED BY
|
Name : |
Mr. Dhiren Kabra |
|
Designation : |
Finance Head |
|
Contact No.: |
91-22-40563402 |
|
Date : |
05.07.2014 |
LOCATIONS
|
Registered / Corporate Office : |
2nd Floor, Ajanta House, 35, Marol Co-operative Industrial
Estate, |
|
Tel. No.: |
91-22-40563400 |
|
Fax No.: |
91-22-40563419 |
|
E-Mail : |
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Website : |
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Factory : |
C-9, MIDC Industrial Estate, Kherdi, Taluka Chiplun, District
Ratnagiri - 415604, Maharashtra, India |
|
Tel. No.: |
91-2355-256336 |
|
Fax No.: |
91-2355-256336 |
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E-Mail : |
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|
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Representative Office 1 : |
1-67-27/9, Sree Gurudatta Nivas, Plot No. 4, Sector 2, MVP Colony,
Vaizag-530017, Andhra Pradesh, India |
|
Tel No.: |
91-891-2532978 |
|
Fax No.: |
91-891-2544595 |
|
Email: |
|
|
|
|
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Representative Office 2 : |
1-B, Kachinakuppam, Pillayar Koil Road, Ambattur Industrial Estate,
Chennai-600098, Tamilnadu, India |
|
Email: |
DIRECTORS
As on 24.09.2013
|
Name : |
Mr. Manoj Manohar Vaidya |
|
Designation : |
Nominee director |
|
Address : |
A/8, Krishnakunj, Paanchpakadi, Thane - 400602, Maharashtra, India |
|
Date of Birth/Age : |
11.05.1958 |
|
Date of Appointment : |
12.09.2012 |
|
DIN No.: |
01723414 |
|
|
|
|
Name : |
Mr. Nadir Habib Khambatta |
|
Designation : |
Director |
|
Address : |
Sun and Sea Apartments, Flat No. 10A, Near Royal Hotel, Juhu Tara
Road, Mumbai – 400049, Maharashtra, India |
|
Date of Birth/Age : |
26.04.1955 |
|
Date of Appointment : |
12.08.2008 |
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PAN No.: |
AADPK9198G |
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DIN No.: |
02141968 |
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|
|
|
Name : |
Gerrit Hendrik Hoefman |
|
Designation : |
Nominee director |
|
Address : |
Abel Tasmanlaan 39, 2803 GJ, Gouda, The Netherlands |
|
Date of Birth/Age : |
23.12.1964 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No.: |
06659276 |
|
|
|
|
Name : |
Mr. Michael Francis Yong Montejo |
|
Designation : |
Nominee director |
|
Address : |
De Noord, 17, 1452 PS Ilpendam 1452 The Netherlands |
|
Date of Birth/Age : |
08.12.1974 |
|
Date of Appointment : |
24.09.2013 |
|
DIN No.: |
06429163 |
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|
|
|
Name : |
Mr. Jehangir H Pardiwalla |
|
Designation : |
Alternate director |
|
Address : |
7A/29 Navjivan Society, Lamington Road, Mumbai - 400008, Maharashtra,
India |
|
Date of Birth/Age : |
27.09.1963 |
|
Date of Appointment : |
28.09.2013 |
|
DIN No.: |
03219037 |
KEY EXECUTIVES
|
Name : |
Mr. Savla |
|
Designation : |
Finance Head |
|
|
|
|
Name : |
Mr. Dhiren Kabra |
|
Designation : |
Finance Head |
MAJOR SHAREHOLDERS
As on 24.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Draka UK Group Limited, England |
198385 |
32.38 |
|
Prysmian Treasury (The Netherlands) B.V. (Formerly Draka Treasury
B.V.) |
169186 |
27.62 |
|
Oman Cables Industry (SAOG), Oman |
245048 |
40.00 |
|
Total |
612619 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Instrumentation Cables,
Thermocouple Cables, Control Cables, and Special Application Cables. |
||||
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||||
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Products : |
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GENERAL INFORMATION
|
Customers : |
Oil and Gas Sector · Engineers India Limited Hindustan Petroleum Corporation Limited Bharat Petroleum Corporation Limited Chennai Petroleum Corporation Limited Gas Authority of India Limited Indian Oil Corporation Limited Kochi Refineries Limited Reliance Industries Limited Chemicals and Fertilisers · Gujarat Narmada Valley Fertilizers Company Limited Indian Farmers Fertiliser Co-operative Limited Gujarat State Fertilisers and Chemicals Limited Nagarjuna Fertilizers Limited Meghamani Fine Chemical Limited Rashtriya Chemicals and Fertilizers Coramandel International Limited Power · Nuclear Power Corporation of India Limited National Thermal Power Corporation Kalpataru Power Transmission Limited Bharat Heavy Electrical Limited ThyssenKrupp Industries India Private Limited Consultants and Contractors · Toyo Engineering India Limited Punj Lloyd Limited Invensys India Private Limited Technip KT India Limited OEMs · Honeywell Automation Private Limited Kirloskar Pneumatic Company Limited Larsen & Toubro Automation Limited Air Liquide Engg India Private Limited New Fire Engineers Water Treatment Plants · Va Tech Wabag Limited Driplex Water Engineering Limited Thermax Limited Steel and Cements · Bhushan Steel and Power Limited Jindal Steel and Power Limited JSW Steel Limited ACC Limited Grasim Industries Limited |
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No. of Employees : |
Information denied by management |
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|
|
|
Bankers : |
· Bank of Baroda, Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India · ING Vysya Bank, Andheri (East), Mumbai, Maharashtra, India |
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Facilities : |
Cash Credit = Rs.10.000 Millions (From ING Vysya Bank) Non Fund = Rs.70.000 Millions (From ING Vysya Bank) |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Lovelock and Lewes Chartered Accountants |
|
Address : |
252, Veer Savarkar Marg, Shivaji Park, Dadar, Mumbai –
400028, Maharashtra, India |
|
PAN No.: |
AABFL5878L |
|
|
|
|
Investing Companies
: |
· Draka UK Group Limited, United Kingdom Draka Treasury BV, Netherlands Oman Cables Industry (SAOG), Sultanate of Oman |
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|
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Enterprise over
which control exists : |
Associated Cables Employees Gratuity Fund |
|
|
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|
Other related
parties where transactions have taken place during the year : |
Draka Holding NV, Netherlands |
CAPITAL STRUCTURE
As on 24.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.100/- each |
Rs.125.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
612619 |
Equity Shares |
Rs.100/- each |
Rs.61.262
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 |
61.262 |
61.262 |
61.262 |
|
(b) Reserves & Surplus |
158.053 |
153.575 |
153.521 |
|
(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) |
219.315 |
214.837 |
214.783 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
5.827 |
12.896 |
20.888 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.982 |
0.682 |
1.143 |
|
Total Non-current Liabilities (3) |
6.809 |
13.578 |
22.031 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.000 |
|
(b) Trade payables |
28.152 |
28.406 |
27.694 |
|
(c) Other current
liabilities |
8.734 |
12.270 |
7.916 |
|
(d) Short-term provisions |
2.585 |
1.309 |
0.662 |
|
Total Current Liabilities (4) |
39.471 |
41.985 |
36.272 |
|
|
|
|
|
|
TOTAL |
265.595 |
270.400 |
273.086 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
84.600 |
77.521 |
82.157 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
13.706 |
5.119 |
|
(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) |
2.145 |
1.625 |
1.216 |
|
(d) Long-term Loan and Advances |
4.963 |
5.160 |
3.968 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
91.708 |
98.012 |
92.460 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
52.205 |
62.723 |
47.339 |
|
(c) Trade receivables |
51.409 |
51.461 |
85.124 |
|
(d) Cash and cash
equivalents |
34.902 |
34.584 |
26.733 |
|
(e) Short-term loans and
advances |
34.516 |
22.008 |
21.097 |
|
(f) Other current assets |
0.855 |
1.612 |
0.333 |
|
Total Current Assets |
173.887 |
172.388 |
180.626 |
|
|
|
|
|
|
TOTAL |
265.595 |
270.400 |
273.086 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Net Sales/Income from operations |
539.110 |
437.840 |
396.030 |
|
|
|
Other Income |
8.430 |
9.240 |
15.700 |
|
|
|
TOTAL (A) |
547.540 |
447.080 |
411.730 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
527.550 |
432.890 |
388.090 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
19.990 |
14.190 |
23.640 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.760 |
1.340 |
1.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.230 |
12.850 |
21.910 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
13.180 |
12.800 |
13.480 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.050 |
0.050 |
8.430 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.050 |
0.000 |
(0.760) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.000 |
0.050 |
9.190 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENTS |
(0.480) |
0.000 |
0.020 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER ADJUSTMENTS |
4.480 |
0.050 |
9.210 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
392.100 |
109.420 |
226.790 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.31 |
0.09 |
15.04 |
|
Expected sales (2013-2014): Rs.550.000 Millions
Above information has been parted by Mr. Dhiren Kabra (Finance Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.73
|
0.01 |
2.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.94
|
0.01 |
2.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.92
|
0.02 |
3.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.00 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.03
|
0.06 |
0.10 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.41
|
4.11 |
4.98 |
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 |
61.262 |
61.262 |
61.262 |
|
Reserves & Surplus |
153.521 |
153.575 |
158.053 |
|
Net
worth |
214.783 |
214.837 |
219.315 |
|
|
|
|
|
|
long-term borrowings |
20.888 |
12.896 |
5.827 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
20.888 |
12.896 |
5.827 |
|
Debt/Equity
ratio |
0.097 |
0.060 |
0.027 |
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 |
396.030 |
437.840 |
539.110 |
|
|
|
10.557 |
23.129 |
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
|
396.030 |
437.840 |
539.110 |
|
Profit |
9.190 |
0.050 |
4.000 |
|
|
2.32% |
0.01% |
0.74% |
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 |
No |
Note: The registered office of the company has been shifted from 29, Marol Cooperative Industrial Estate, M. V. Road, Andheri (East), Mumbai – 400059, Maharashtra, India to present address w.e.f. 20.11.2007
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Deferred sales tax liability |
5.827 |
12.896 |
|
Total |
5.827 |
12.896 |
PERFORMANCE:
The Company has achieved net sales of Rs.539.110 Millions for the
financial year 2012-13, registering a growth of 23.13% over the previous year.
The Company during the financial year 2012-13, achieved significant
growth in export sales at Rs.392.100 Millions registering an increase of over
2.5 times, while the domestic sales was restricted to Rs.147.010 Millions, due
to margin pressure. The profit before tax for the financial year 2012-13 is
Rs.5.050 Millions as against a profit of Rs.0.050 Million during the previous
year.
OPERATIONS:
The domestic economic environment during the year 2012-13 witnessed
sluggish growth in the manufacturing, infrastructure and petrochemical sector,
thereby directly affecting the Company’s sales & margins. The rising oil
prices and unstable rupee further added to increase in input costs and
overheads, which affected margins and thus profitability.
As the Company’s export sales have increased, it is exposed to the risk
of price fluctuation on imported raw materials, as well as currency
fluctuations on exports. It proactively manages risks in input costs of
imported raw material through timely raw material price fixing, and through
forward booking of currency contracts against export receipts.
The Company achieved a significant milestone by getting IMS
Certification during the year from TUV SUD for ISO 9001:2008, ISO 14001:2004
and BS OHSAS 18001:2007 thereby further adding to its value proposition.
FUTURE OUTLOOK:
As a next step the Company will make investments to expand capacity to
increase its export business while focusing selectively on good margin domestic
business. The Company will therefore continue to make Capex investments to
expand its volume of business.
The Company is confident of India’s long term economic growth, and
therefore foresee good prospects for the Company, with enhanced capacity.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
90218525 |
01/08/2003 |
10,000,000.00 |
BANK OF BARODA |
Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India |
- |
|
2 |
90218496 |
10/02/2003 |
35,000,000.00 |
BANK OF BARODA |
Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India |
- |
|
3 |
90217744 |
26/08/2003 * |
6,500,000.00 |
BANK OF BARODA |
Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India |
- |
|
4 |
90217634 |
13/07/1998 * |
6,500,000.00 |
BANK OF BARODA |
Vile Parle (East) Branch, Mumbai - 400057, Maharashtra, India |
- |
*Date of modification Charges
FIXED ASSETS:
· Land
·
Buildings
·
Factory
building
·
Plant
and equipment
·
Factory
equipments
·
Furniture
and fixtures
·
Vehicles
·
Motor
vehicles
·
Office
equipment
·
Other
equipments
·
Computer
software
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.59.73 |
|
|
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
32 |
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.