1. Summary Information
|
|
|
Country |
|
|
Company Name |
MARPOL PRIVATE
LIMITED |
Principal Name 1 |
Mr. Shanu Atmaram Pai Panandiker |
|
Status |
Moderate |
Principal Name 2 |
Mr. Rohan Ramchandra Pai Panandiker |
|
|
|
Registration # |
24-000532 |
|
Street Address |
Panandiker
Chambers, 2nd Floor, |
||
|
Established Date |
05.04.1983 |
SIC Code |
-- |
|
Telephone# |
91-8342-2732045/ 2711165/ 2736880/ 2730880 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-8342-2733124 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Powder Coatings |
|
|
# of employees |
Not Available |
Product Name 2 |
Polyester Resins. |
|
Paid up capital |
Rs. 29,952,000 /- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of Directors 100.00% |
Banking |
Canara Bank |
|
Public Limited Corp. |
No |
Business Period |
31 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Related Parties |
-- |
Marcoat Paints Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
256,461,000 |
Current Liabilities |
142,619,000 |
|
Inventories |
88,691,000 |
Long-term Liabilities |
163,004,000 |
|
Fixed Assets |
118,645,000 |
Other Liabilities |
14,959,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
320,582,000 |
|
Invest& other Assets |
500,000 |
Retained Earnings |
113,763,000 |
|
|
|
Net Worth |
143,715,000 |
|
Total Assets |
464,297,000 |
Total Liab. & Equity |
464,297,000 |
|
Total Assets (Previous Year) |
491,649,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
672,887,000 |
Net Profit / (Loss) |
(19,329,000) |
|
Sales(Previous yr) |
698,171,000 |
Net Profit/
(Loss) (Prev.yr) |
(17,471,000) |
MIRA
INFORM REPORT
|
Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MARPOL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Panandiker Chambers, 2nd Floor, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of Incorporation
: |
05.04.1983 |
|
|
|
|
Com. Reg. No.: |
24-000532 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.29.952
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24222GA1983PLC000532 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
BLRM00043B / BLRM07271F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCM2018D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Powder Coatings and Polyester Resins. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 570000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. As per registrar of companies the date of balance sheet (i.e.
financial filed) shown as 31.03.2013 but the document related to financial
are not available from any source. As per available financial of 2012, the rating is constrained on
account of company’s moderate financial risk profile and losses that company
has incurred form its operational activities. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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 DECLINED
Management Non-Cooperative (91-832-2711165)
LOCATIONS
|
Registered Office / Head Office : |
Panandiker Chambers, 2nd Floor, |
|
Tel. No.: |
91-8342-2732045/ 2711165/ 2736880/ 2730880 |
|
Fax No.: |
91-8342-2733124 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No.12-18, GIDC Industrial Estate, Kakoda – 403 706, |
|
Tel. No.: |
91-832-2650749 / 2652167 / 2652168 / 2652169 / 2651381 |
|
Fax No.: |
91-832-2651382 |
|
|
|
|
Factory 2 : |
Plot No. A, B, C, GIDC Industrial Estate, Kakoda – 403 706, |
|
|
|
|
Factory 3: |
Plot No.25, EPIP, Phase II, |
|
|
|
|
Branches : |
Located at:
|
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rohit Pai Panandiker |
|
Designation : |
Director |
|
Address : |
4TH Floor, Prudential Pristine Vanelim Colva Panchayt,
Margao, Goa – 403708, India |
|
Date of Birth/Age : |
07.08.1969 |
|
Date of Appointment : |
24.09.2010 |
|
DIN No.: |
00559055 |
|
|
|
|
Name : |
Mr. Shambhu Atmaram Pai Panandiker |
|
Designation : |
Director |
|
Address : |
1908, Holly Hill, DR Austin, Texas – 78746, USA |
|
Date of Birth/Age : |
31.08.1932 |
|
Date of Appointment : |
13.09.2010 |
|
DIN No.: |
00960206 |
|
|
|
|
Name : |
Mr. Shanu Atmaram Pai Panandiker |
|
Designation : |
Director |
|
Address : |
Shantayee 5/2623, Near Raghavendra Swamy, Muth Monte, Margao, Goa –
403 601, India |
|
Date of Birth/Age : |
25.05.1937 |
|
Date of Appointment : |
05.04.1983 |
|
DIN No.: |
01027363 |
|
|
|
|
Name : |
Mr. Rohan Ramchandra Pai Panandiker |
|
Designation : |
Director |
|
Address : |
H. No. 90/6, 2-T1/T2, 3rd Floor, Prudential Pristine Vanelim
Colva Panchayt, Margao, Goa – 403708, India |
|
Date of Birth/Age : |
22.04.1937 |
|
Date of Appointment : |
22.08.2005 |
|
DIN No.: |
01879742 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shanu Atmaram
Pai Panandiker |
|
55200 |
|
Ramchandra Pai
Panandiker (HUF) |
|
268800 |
|
Shanu Pai
Panandiker (HUF) |
|
268800 |
|
Vishwanath Pai
Panandiker (HUF) |
|
360000 |
|
Kamlesh Pai
Panandiker (HUF) |
|
399200 |
|
Shambhu Pai
Panandiker (HUF) |
|
270000 |
|
Rohan R Pai Panandiker |
|
25800 |
|
Rohit R Pai Panandiker |
|
25800 |
|
Ravi V Pai Panandiker |
|
12000 |
|
Rahool Pai Panandiker |
|
12000 |
|
Raj S Pai Panandiker |
|
12000 |
|
Manisha Pai Panandiker |
|
12000 |
|
Ramchandra Pai
Panandiker Trading and Investment Company Private Limited, India |
|
198000 |
|
Atmaram Pai
Panandiker Trading and Investment Company Private Limited, India |
|
182400 |
|
Vishwanath Pai
Panandiker Trading and Investment Company Private Limited, India |
|
259200 |
|
Shanu Pai
Panandiker Trading and Investment Company Private Limited, India |
|
198000 |
|
Veda Pai
Panandiker Trading and Investment Company Private Limited, India |
|
242400 |
|
Kunda S. Pai Panandiker |
|
500 |
|
Anjali Pai Panandiker |
|
500 |
|
Veda K. Pai Panandiker |
|
500 |
|
Kaya K Pai Panandiker |
|
500 |
|
Mangala Pai Panandiker |
|
500 |
|
Rajani Pai Panandiker |
|
28100 |
|
Atman S Pai Panandiker |
|
1000 |
|
Vishwanath Pai Panandiker |
|
54000 |
|
Kamles Pai Panandiker |
|
54000 |
|
Shambhu Pai Panandiker |
|
54000 |
|
|
|
|
|
Total |
|
2995200 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Powder Coatings and Polyester Resins. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Canara Bank, Margao Branch, Margao – 403601, Goa,
India. ·
The Goa Urban Co –Operative Bank Limited, Margao,
Goa, India |
||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Ganesh Daivajna and company Chartered Accountants |
|
Address : |
2nd Floor, Ganesh Chambers, Abade Faria Road, Opposite Confident, P.
O. Box No. 49, Margao, Goa – 403601, India |
|
Tel. No.: |
91-832-2731016 / 2730728 |
|
Fax No.: |
91-832-2732408 |
|
E-Mail : |
|
|
Website: |
|
|
PAN No.: |
AABFG0206H |
|
|
|
|
List of Related
Parties in which Key Management personnel and their relatives have
significant influence : |
· Atmaram Pai Panandiker Trading and Investment Company Private Limited · Information technoloqy and Education Centre · Marcoat Paints Private Limited · Panandiker Constructions Private Limited · Panandiker Plantations · Panandiker Real Estates and Developers · Panandiker Realtors Private Limited · Panandiker Research and Development Private Limited · Ramchandra Pai Panandiker Trading and Investment Company Private Limited · Shanu Pai Panandiker Trading and. Investment Company Private Limited · Tanima Investments Private Limited ·
Veda Pai PariancUker Trading and Investment
Company Private Limited ·
Vishvanath Pai Panandiker Trading and
Investment Company Private Limited |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2995200 |
Equity Shares |
Rs.10/- each |
Rs.29.952
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 |
|
29.952 |
29.952 |
|
(b) Reserves & Surplus |
|
113.763 |
131.235 |
|
(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) |
|
143.715 |
161.187 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
27.878 |
30.263 |
|
(b) Deferred tax liabilities (Net) |
|
11.203 |
13.061 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
|
39.081 |
43.324 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
135.126 |
137.023 |
|
(b) Trade payables |
|
86.823 |
95.895 |
|
(c) Other current liabilities |
|
55.796 |
50.653 |
|
(d) Short-term provisions |
|
3.756 |
3.567 |
|
Total Current Liabilities (4) |
|
281.501 |
287.138 |
|
|
|
|
|
|
TOTAL |
|
464.297 |
491.649 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
118.645 |
130.875 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
18.529 |
24.299 |
|
(e) Other Non-current assets |
|
0.580 |
0.476 |
|
Total Non-Current Assets |
|
138.254 |
156.150 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
88.691 |
99.001 |
|
(c) Trade receivables |
|
151.813 |
157.215 |
|
(d) Cash and cash equivalents |
|
18.556 |
26.341 |
|
(e) Short-term loans and
advances |
|
64.359 |
49.609 |
|
(f) Other current assets |
|
2.624 |
3.333 |
|
Total Current Assets |
|
326.043 |
335.499 |
|
|
|
|
|
|
TOTAL |
|
464.297 |
491.649 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
42.036 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
134.908 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
176.944 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
99.846 |
|
|
2] Unsecured Loans |
|
|
15.399 |
|
|
TOTAL BORROWING |
|
|
115.245 |
|
|
DEFERRED TAX LIABILITIES |
|
|
13.814 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
306.003 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
113.078 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.500 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
92.965
|
|
|
Sundry Debtors |
|
|
127.638
|
|
|
Cash & Bank Balances |
|
|
18.939
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
66.187
|
|
Total
Current Assets |
|
|
305.729
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
56.346
|
|
|
Other Current Liabilities |
|
|
28.016
|
|
|
Provisions |
|
|
29.100
|
|
Total
Current Liabilities |
|
|
113.462
|
|
|
Net Current Assets |
|
|
192.267
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.158 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
306.003 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
672.887 |
698.171 |
615.278 |
|
|
|
Other Income |
1.375 |
3.423 |
6.911 |
|
|
|
TOTAL (A) |
674.262 |
701.594 |
622.189 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
487.828 |
|
|
|
|
|
Changes in inventories of finished goods and stock in process |
(5.057) |
15.887 |
555.298 |
|
|
|
Employee benefits Expenses |
48.345 |
48.502 |
|
|
|
|
Other Expenses |
122.412 |
126.032 |
|
|
|
|
TOTAL (B) |
653.528 |
673.473 |
555.298 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
20.734 |
28.121 |
66.891 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
21.142 |
14.247 |
13.131 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND
AMORTISATION (C-D) (E) |
(0.408) |
13.871 |
53.760 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.921 |
18.300 |
18.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX (E-F)
(G) |
(19.329) |
(4.426) |
35.760 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(1.858) |
(0.753) |
12.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS) AFTER TAX (G-H) (I) |
(17.471) |
(3.673) |
23.353 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
122.843 |
126.516 |
108.081 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
0.000 |
4.204 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
0.714 |
|
|
BALANCE CARRIED TO
THE B/S |
105.372 |
122.843 |
126.516 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
29.770 |
24.019 |
16.240 |
|
|
TOTAL EARNINGS |
29.770 |
24.019 |
16.240 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
161.344 |
156.168 |
128.440 |
|
|
|
Machinery & Stores Items |
4.739 |
5.194 |
1.564 |
|
|
TOTAL IMPORTS |
166.083 |
161.362 |
130.004 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.83) |
(1.23) |
5.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(2.59)
|
(0.52) |
3.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(2.87)
|
(0.63) |
5.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(4.17)
|
(0.90) |
8.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.13)
|
(0.03) |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.13
|
1.04 |
0.65 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.16
|
1.17 |
2.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
29.952 |
29.952 |
|
Reserves & Surplus |
|
131.235 |
113.763 |
|
Net
worth |
|
161.187 |
143.715 |
|
|
|
|
|
|
long-term borrowings |
|
30.263 |
27.878 |
|
Short term borrowings |
|
137.023 |
135.126 |
|
Total
borrowings |
|
167.286 |
163.004 |
|
Debt/Equity
ratio |
|
1.038 |
1.134 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
615.278 |
698.171 |
672.887 |
|
|
|
13.472 |
(3.621) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
615.278 |
698.171 |
672.887 |
|
Profit |
23.353 |
(3.673) |
(17.471) |
|
|
3.80% |
(0.53%) |
(2.60%) |
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
Yes |
|
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 |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
LITIGATIONS DETAILS
HIGH COURT OF
BOMBAY TO GOA
|
Reg. No. :- EXA / 6
/ 2009 |
Stamp No. :- STM / 2099
/ 2009 |
||||
|
Case Status : |
Pending (Final Hearing) |
||||
|
Petitioner : |
THE COMMISSIONER OF CENTRAL EXCISE |
||||
|
Respondent : |
M/S. MARPOL PRIVATE LIMITED |
||||
|
Petitoner
Adv. : |
MS. SUSAN LINHARES |
||||
|
Respondent
Adv. : |
MR. ASHWIN D. BHOBE FRO RES. |
||||
|
District : |
North Goa |
||||
|
Bench : |
Division |
||||
|
Act : |
Central Excise & Salt Act |
||||
|
Case Stage : |
FOR FINAL HEARING |
||||
|
Hearing Date : |
30 June 2014 |
||||
|
|||||
|
This Case is updated on : 25 June 2014 |
|||||
Note:
The registered office of the company has been shifted from
H. No. 10/1300, C-4, 1st Floor, Near ABC Club Abade Faria Road, Margao, Goa –
403601, India
to present address w.e.f. 28.06.2013
BUSINESS OUTLOOK AND
OVERVIEW
The uncertainty witnessed in 2011-12 is likely to continue even in 2012-13. Global economy shows no signs of recovery in 2012-13 and is expected to be more uncertain. This may result in volatile crude and commodity prices and fluctuations in foreign exchange rates. In domestic economy, continued inflationary pressure, lower private consumption and high fiscal deficit are likely to result in lower GDP growth compared to previous year.
COMPANY PERFORMANCE
The Company's overall domestic growth was lower by 10% in volume terms and 5% in terms of value. The record level of US Dollar v/s Indian currency has dented into the profitability very badly, as they consume nearly 40% of raw material imported directly or indirectly. Further the management control related legal issues has also resulted indirectly to one of the poorest performance of the Company,
Exports:
Rising Dollar has contributed to increased export realization. Export turnover during the year was Rs.29.797 Millions compared to Rs. 24.019 Millions achieved during the previous year. However the volume rose marginally from 150 MT to 157 MT during the year. They are glad to inform that they have started exporting for the first time to Sri Lanka and they are negotiating with customers in Bangladesh,
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
From Shareholders |
8.712 |
8.712 |
|
Total |
8.712 |
8.712 |
|
The unsecured loan from shareholders has been taken as quasi equity as stipulated by the Bank for availing Working capital facilities and it will be repaid with Banks prior permission only. |
||
CONTINGENT
LIABILITIES NOT PROVIDED FOR (As on 31.03.2012)
a. Claims against company not acknowledged as debt Rs.1.500 Millions (excluding interest thereon if any)
b. Counter Guarantees to bank in respect of Bank Guarantees issued to government authorities and others Rs. 4.017 Millions
c. Outstanding balance for letter of credit opened with Canara Bank, Margaon, Goa Rs.10.425 Millions.
d. The company has received a demand of sales tax for non-submission of Form 'C for the year 2004-05 against which the Company has preferred an appeal. The value of sales to be covered by Form C to be collected for the year 2004-05 is Rs.5.967 Millions
e. The company has received a notice of demand from the income Tax Department for Rs.1.458 Millions and Rs.4.279 Millions relating to the assessment year 2003 04 and 2007-03 and the same has been paid The appeal against the said demands are pending.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10421743 |
28/03/2013 |
20,000,000.00 |
THE GOA URBAN CO-OPERATIVE BANK LIMITED |
DR. ATMARAM BORKAR ROAD, PANAJI, PANAJI, GOA - 403001, INDIA |
B73750036 |
|
2 |
10297464 |
05/03/2011 |
25,000,000.00 |
THE GOA URBAN CO-OPERATIVE BANK LIMITED |
DR. ATMARAM BORKAR ROAD, PANAJI, GOA, GOA - 403001, INDIA |
B10849719 |
|
3 |
10199271 |
30/12/2009 |
519,839.00 |
CANARA BANK |
MARGAO BRANCH, MARGAO, GOA - 403601, INDIA |
A76813450 |
|
4 |
10093452 |
13/12/2007 |
196,400,000.00 |
CANARA BANK |
MARGAO BRANCH, MARGAO, GOA - 403601, INDIA |
A30476733 |
|
5 |
90077751 |
23/10/2008 * |
7,000,000.00 |
GOA URBAN CO OPERATIVE BANK LIMITED |
NEAR MUNICIPALITY, MARGAO GOA, MARGAO, GOA - 403601, INDIA |
A50617273 |
|
6 |
90065725 |
21/03/2005 * |
29,000.00 |
GOA URBAN CO-OP BANK LIMITED. |
MARGAO, GOA, GOA, INDIA |
- |
|
7 |
90065547 |
21/12/2004 * |
10,400,000.00 |
THE URBAN CO-OP BANK LIMITED. |
MARGAO, GOA, GOA, INDIA |
- |
|
8 |
90065028 |
26/03/2002 * |
426,000.00 |
CANARA BANK |
MAMAT HOUSE MARGAO, GOA, GOA, INDIA |
- |
|
9 |
90065023 |
26/03/2002 * |
306,000.00 |
CANARA BANK |
MAMAT HOUSE MARGAO, GOA, GOA, INDIA |
- |
|
10 |
90065412 |
22/05/2006 * |
500,000.00 |
CANARA BANK |
KAMAT HOUSE, LOUIS MIRANDA ROAD, MARGAO, GOA - 403601, INDIA |
- |
|
11 |
80001726 |
24/10/2008 * |
236,200,000.00 |
CANARA BANK |
KAMAT HOUSE, LOUIS MIRANDA ROAD, MARGAO, GOA - 403601, INDIA |
A51413623 |
|
12 |
80001722 |
25/04/1986 |
500,000.00 |
CANARA BANK |
MARGAO, MARGAO, GOA - 403601, INDIA |
- |
|
13 |
80001720 |
20/03/2006 * |
250,000.00 |
CANARA BANK |
KAMAT HOUSE, LOUIS MIRANDA ROAD, MARGAO, GOA - 403601, INDIA |
- |
|
14 |
90065198 |
23/05/2006 * |
250,000.00 |
CANARA BANK |
KAMAT HOUSE, LUISE MIRANDA ROAD, MARGAO, GOA - 403601, INDIA |
- |
* Date of charge modification
FIXED ASSETS
- Plant and Machinery
- Electrical Installations
- Office Equipment
- Office Premises
- Furniture and Fixture
- Vehicles
- Laboratory 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 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.59.73 |
|
|
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--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 |
YES |
|
--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 |
|
26 |
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.