MIRA
INFORM REPORT
|
Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MANGALAM ORGANICS LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
03.07.1981 |
|
|
|
|
Com. Reg. No.: |
11-024742 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 90.375 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L24110MH1981PLC024742 |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer and Seller of Chemicals. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The company possesses a favourable financial profile marked by adequate networth base modest gearing and decent debt protection metrics, along with slight working capital intensive operations. Management has reported an acceptable sales volume as well as net profitability during FY13. Trade relations are fair. Business is active. Payment terms are reported as usually correct. In view of experienced and creditworthy nature of the promoters, the subject can be considered for business dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CRISIL |
|
Rating |
SME 1 |
|
Rating Explanation |
Highest creditworthiness |
|
Date |
23.04.2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non Co-operative (91-22-40884089)
LOCATIONS
|
Registered Office / Factory : |
Kumbhivali Village, Savroli Kharpada Road, Taluka -
Khalapur, Khopoli - 410203, District Raigad, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Administrative Office : |
812, Tulsiani Chambers, Nariman Point, Mumbai – 400021,
Maharashtra, India |
|
Tel. No.: |
91-22-22824089 / 40884089 |
|
Fax No.: |
91-22-22841284 |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. Kamalkumar Dujodwala |
|
Designation : |
Chairman |
|
|
|
|
Name : |
Mr. Pannkaj Dujodwala |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Narendra Goenka |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Rajkumar Saraf |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.10.1945 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
25.05.2010 |
|
|
|
|
Name : |
Mr. Rajkumar Jatia |
|
Designation : |
Director |
|
Date of Birth/Age : |
14.10.1951 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
25.05.2010 |
|
|
|
|
Name : |
Mr. Sharad Saraf |
|
Designation : |
Director |
KEY EXECUTIVES
|
Audit Committee : |
· Mr. Sharad Saraf · Mr. Rajkumar Saraf · Mr. Kamalkumar Dujodwala |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of
Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2243362 |
24.78 |
|
|
2001849 |
22.11 |
|
|
4245211 |
46.89 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
4245211 |
46.89 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
1900 |
0.02 |
|
|
600 |
0.01 |
|
|
2500 |
0.03 |
|
|
|
|
|
|
1029092 |
11.37 |
|
|
|
|
|
|
2308140 |
25.50 |
|
|
1194678 |
13.20 |
|
|
273059 |
3.02 |
|
|
265189 |
2.93 |
|
|
7870 |
0.09 |
|
|
4804969 |
53.08 |
|
Total Public shareholding (B) |
4807469 |
53.11 |
|
Total (A)+(B) |
9052680 |
100.00 |
|
(C) Shares held by Custodians and against which Depository
Receipts have been issued |
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
9052680 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
76244325 |
0.00 |
Shareholding
belonging to the category "Promoter and Promoter Group"
|
Sl.No. |
Name of the
Shareholder |
Details of Shares held |
Total shares (including
underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
|
|
|
No. of Shares held |
As a % of grand
total (A)+(B)+(C) |
|
|
1 |
Akshay Dujodwala |
3,51,374 |
3.88 |
3.88 |
|
2 |
Alka Dujodwala |
5,78,790 |
6.39 |
6.39 |
|
3 |
Dujodwala Export Private Limited |
1,72,432 |
1.90 |
1.90 |
|
4 |
Indo Euro Securities Limited |
18,29,417 |
20.21 |
20.21 |
|
5 |
Manisha Dujodwala |
8,53,250 |
9.43 |
9.43 |
|
6 |
Pankaj Ramgopal Dujodwala HUF |
1,72,432 |
1.90 |
1.90 |
|
7 |
Ramgopal Kamalkumar HUF |
1,56,216 |
1.73 |
1.73 |
|
8 |
Vasudha Dujodwala |
1,31,300 |
1.45 |
1.45 |
|
|
Total |
42,45,211 |
46.89 |
46.89 |
Shareholding
belonging to the category "Public" and holding more than 1% of the
Total No. of Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares held |
Shares as % of
Total No. of Shares |
Total shares
(including underlying shares assuming full conversion of warrants and convertible
securities) as a % of diluted share capital |
|
1 |
Sangeetha S |
136330 |
1.51 |
1.51 |
|
2 |
Vijay Rani Saraf |
420900 |
4.65 |
4.65 |
|
3 |
J B C International Private Limited |
414500 |
4.58 |
4.58 |
|
4 |
Ventura Securities Limited |
360000 |
3.98 |
3.98 |
|
5 |
Jagdish Amritlal Shah |
95745 |
1.06 |
1.06 |
|
|
Total |
1427475 |
15.77 |
15.77 |
Details of Locked-in
Shares
|
Sl. No. |
Name of the
Shareholder |
No. of Shares |
Locked-in Shares as
% of |
|
1 |
Pankaj Ramgopal Dujodwala HUF |
1,72,432 |
1.90 |
|
2 |
Ramgopal Kamalkumar HUF |
86,216 |
0.95 |
|
3 |
Dujodwala Export Private Limited |
1,72,432 |
1.90 |
|
|
Total |
4,31,080 |
4.76 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Seller of Chemicals. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
The Saraswat Co-operative Bank Limited (Scheduled Bank), SME Nariman Point, A-Wing, 1st Floor, Mittal Court, Mumbai-400 021, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Sundarlal, Desai and Kanodia Chartered Accountants |
|
Address : |
903, Arcadia, NCPA Marg,
Nariman Point, Mumbai – 400021, Maharashtra, India |
|
|
|
|
Companies / Firm controlled by Directors / Relatives who have the
authority and controlling their activities : |
·
Balaji Pine Chemicals Limited ·
Specially Chemicles ·
Dujodwala Resin and Terpenes Lined ·
Indo-Euro Securities Limited ·
Dujodwala Exports Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9052680 |
Equity Shares |
Rs.10/- each |
Rs.90.527 Millions |
|
|
Less: Calls Unpaid |
|
Rs.0.152 Million |
|
|
Total |
|
Rs.90.375 Millions |
(Of these 4,31,080 equity shares of Rs. 10 each fully paid up issued at premium of Rs. 8.59 per share upon conversion of convertible warrants issued on preferential basis in the financial year 2010-11)
a) Terms/ rights attached to Equity Shares:
The Company has only one class of equity shares having par value of Rs.10/-. Each holder of equity share is entitled to one vote per share. The Company declares and pays dividend in Indian Rupees. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing annual general meeting
In the event of liquidation of the Company, the holders of the equity shares will be entitled to receive remaining assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to the number of equity shares held by the shareholders.
b) Reconciliation of
Outstanding Shares:
|
|
No. of Share as on 31st
March 2013 |
|
Opening on 1st April 12 |
9,052,680 |
|
Add: Issued during the year |
-- |
|
Closing on 31st
March 13 |
9,052,680 |
Details of
shareholders holding more than 5%of the total share capital
|
Name of the
shareholder |
No. of share as
31.03.2013 |
|
Indo Euro Securities Limited |
1,794,885 |
|
Manisha Dujodwala |
853,250 |
|
Alka Dujodwala |
578,790 |
|
|
3,226,925 |
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 |
90.375 |
90.375 |
90.375 |
|
(b) Reserves & Surplus |
371.762 |
339.942 |
310.504 |
|
(c) Money
received against share warrants |
0.000 |
7.026 |
7.026 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
462.137 |
437.343 |
407.905 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
42.812 |
61.357 |
66.003 |
|
(b) Deferred tax liabilities (Net) |
62.671 |
55.364 |
56.625 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.864 |
8.094 |
5.671 |
|
Total Non-current Liabilities (3) |
113.347 |
124.815 |
128.299 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
324.381 |
410.052 |
196.637 |
|
(b) Trade payables |
325.689 |
360.187 |
440.633 |
|
(c) Other current
liabilities |
178.401 |
121.877 |
153.466 |
|
(d) Short-term provisions |
1.325 |
0.000 |
48.368 |
|
Total Current Liabilities (4) |
829.796 |
892.116 |
839.104 |
|
|
|
|
|
|
TOTAL |
1405.280 |
1454.274 |
1375.308 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
503.933 |
437.026 |
424.239 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
12.537 |
34.973 |
13.144 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.025 |
0.025 |
0.025 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
40.071 |
39.780 |
42.288 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
556.566 |
511.804 |
479.696 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
435.186 |
538.940 |
560.498 |
|
(c) Trade receivables |
272.884 |
276.869 |
186.587 |
|
(d) Cash and cash equivalents |
42.939 |
40.662 |
32.927 |
|
(e) Short-term loans and
advances |
87.424 |
79.612 |
114.717 |
|
(f) Other current assets |
10.281 |
6.387 |
0.883 |
|
Total Current Assets |
848.714 |
942.470 |
895.612 |
|
|
|
|
|
|
TOTAL |
1405.280 |
1454.274 |
1375.308 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2095.232 |
2202.272 |
1907.520 |
|
|
|
Other Income |
13.160 |
6.637 |
8.691 |
|
|
|
TOTAL (A) |
2108.392 |
2208.909 |
1916.211 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1585.674 |
1515.044 |
1477.446 |
|
|
|
Trading purchase |
208.925 |
189.178 |
82.914 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(149.823) |
51.553 |
(138.178) |
|
|
|
Employees benefits expense |
76.760 |
64.599 |
53.306 |
|
|
|
Other expenses |
238.214 |
250.490 |
211.784 |
|
|
|
TOTAL (B) |
1959.750 |
2070.864 |
1687.272 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
148.642 |
138.045 |
228.939 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
56.937 |
66.480 |
42.681 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
91.705 |
71.565 |
186.258 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
43.003 |
38.097 |
35.521 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
48.702 |
33.468 |
150.737 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.944 |
(0.022) |
54.264 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.758 |
33.490 |
96.473 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
234.142 |
210.652 |
144.717 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
10.000 |
20.000 |
|
|
|
Dividend |
0.000 |
0.000 |
9.037 |
|
|
|
Tax on Dividend |
0.000 |
0.000 |
1.501 |
|
|
BALANCE CARRIED
TO THE B/S |
268.900 |
234.142 |
210.652 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export made on FOB Basis |
219.072 |
129.921 |
203.779 |
|
|
TOTAL EARNINGS |
219.072 |
129.921 |
203.779 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
721.674 |
955.786 |
1208.161 |
|
|
TOTAL IMPORTS |
721.674 |
955.786 |
1208.161 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic |
3.84 |
3.70 |
11.10 |
|
|
|
Diluted |
3.84 |
3.17 |
9.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.65 |
1.52 |
5.03 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.32 |
1.52 |
7.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.50 |
2.36 |
11.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.08 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.79 |
1.08 |
0.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.02 |
1.06 |
1.07 |
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 |
90.375 |
90.375 |
90.375 |
|
Reserves & Surplus |
310.504 |
339.942 |
371.762 |
|
Money received against share warrants |
7.026 |
7.026 |
0.000 |
|
Net
worth |
407.905 |
437.343 |
462.137 |
|
|
|
|
|
|
long-term borrowings |
66.003 |
61.357 |
42.812 |
|
Short term borrowings |
196.637 |
410.052 |
324.381 |
|
Total
borrowings |
262.640 |
471.409 |
367.193 |
|
Debt/Equity
ratio |
0.644 |
1.078 |
0.795 |
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 |
1907.520 |
2202.272 |
2095.232 |
|
|
|
15.452 |
(4.860) |
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 |
1907.520 |
2202.272 |
2095.232 |
|
Profit |
96.473 |
33.490 |
34.758 |
|
|
5.06% |
1.52% |
1.66% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
26.029 |
37.950 |
47.915 |
|
|
|
|
|
|
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 |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
REVIEW OF OPERATIONS:
During the year, the Company has achieved sales and other income of Rs. 2313.629 Millions as compared to (Rs.2396.166 Millions) during the previous year and the net profit has been increased to Rs. 34.758 Millions as against (Rs. 33.490 Millions) during the previous year mainly on account of better performance of the Company.
The Company has adequate production facilities with sole objective of providing quality products at reasonable price as well as satisfying the interest of all customers of the Company.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10506243 |
20/06/2014 |
20,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
C09451865 |
|
2 |
10468451 |
23/12/2013 |
50,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B92829829 |
|
3 |
10368766 |
23/07/2012 |
8,864,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B44992824 |
|
4 |
10290361 |
18/04/2011 |
500,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B14340277 |
|
5 |
10256791 |
08/11/2010 |
27,500,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B01247626 |
|
6 |
10241737 |
14/09/2010 |
50,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A95489092 |
|
7 |
10224181 |
10/05/2010 |
42,300,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
CST BRANCH, CST, MUMBAI, MAHARASHTRA - 400001, INDIA |
A87252276 |
|
8 |
10223534 |
14/05/2012 * |
370,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B39480868 |
|
9 |
10224201 |
21/09/2011 * |
537,300,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B22155519 |
|
10 |
10223536 |
24/04/2010 |
5,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
CST BRANCH, CST, MUMBAI, MAHARASHTRA - 400001, INDIA |
A87048351 |
|
11 |
10224013 |
13/06/2011 * |
265,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
SME NARIMAN POINT BRANCH,MITTAL COURT A WING, 1ST FLOOR, VIDHAN BHAVAN MARG, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B16726192 |
|
12 |
10223533 |
23/04/2010 |
21,000,000.00 |
THE SARASWAT COOPERATIVE BANK LIMITED |
CST BRANCH, CST, MUMBAI, MAHARASHTRA - 400001, IND |
A87047239 |
|
13 |
80067502 |
10/04/2006 |
225,000,000.00 |
THE JAMMU AND KASHMIR BANK LIMITED |
79-A MEHTA HOUSE MUMBAI, SAMACHAR MARG FORT, MUMBAI, MAHARASHTRA - 400023, INDIA |
- |
* Date of charge modification
FIXED ASSETS
· Land
· Residential Premises
· Factory Building
· Plant and Machinery
· Vehicle
· Furniture and Fixture
· Computer
· Office Equipment
· Office Premises
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.59.88 |
|
|
1 |
Rs.102.59 |
|
Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.