MIRA
INFORM REPORT
|
Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MIRHA EXPORTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
6071, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.09.1997 |
|
|
|
|
Com. Reg. No.: |
55-089573 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.11.850
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U63022DL1997PTC089573 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM08606D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM8612P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Subject is engaged in processing and export of frozen buffalo meat
products. |
|
|
|
|
No. of Employees
: |
1000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1208000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
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|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked by
low profitability levels and stretched liquidity position of the
company. However, trade relations are reported as 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
NEWS
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual growth
and compared with 4.5 % in the last fiscal year. However, the current account
deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic product,
in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year before. A
sharp fall in gold imports due to restrictions on overseas purchases and muted
import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles from
its Talegaon plant near Pune in the second half of 2014. GM was one of the few
global carmakers that was using its India plant only for the domestic market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two. While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted biggest
quarterly loss – Rs.2153.37 crore – in the three months ended March 31, mainly
because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers with hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
ICRA |
|
Rating |
Term Loans: BB |
|
Rating Explanation |
Inadequate degree of safety and high credit risk. |
|
Date |
February, 2014 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Limits: A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
February, 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 PARTED BY
|
Name : |
Mr. Gaurav Garg |
|
Designation : |
Finance Department |
|
Contact No.: |
91-11-23353273 |
|
Date : |
12.07.2014 |
LOCATIONS
|
Registered Office : |
6071, Nawab Road, Basti Harphool Singh, Sadar Bazar, New Delhi – 110
006, India |
|
Tel. No.: |
91-11-23524295/ 23524029/ 2367758/ 65185534/ 23674758 |
|
Fax No.: |
91-11-23634938 |
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E-Mail : |
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|
Website : |
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Corporate Office : |
30, Bazar Lane, Bengali Market, Connaught Place, New Delhi – 110 001, India |
|
Tel. No.: |
91-11-23353271/ 72/ 73 |
|
Fax No.: |
91-11-23353270 |
|
E-Mail : |
|
|
|
|
|
Sahibabad Unit :
|
B-36 and B-37, Site-4, Industrial Area, Sahibabad Industrial Area,
Ghaziabad – 201 010, Uttar Pradesh, India |
|
Tel. No.: |
91-11-65785534 |
|
Location : |
Owned |
|
|
|
|
Integrated Abattoir cum Processing Unit : |
Located at: ·
Dera Bassi (Punjab) |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Qaiser Hussain Qureshi |
|
Designation : |
Director |
|
Address : |
6062, Nawab Road, Basti Harphool Singh, Sadar Bazar, Delhi – 110 006,
India |
|
Date of Birth : |
20.03.1966 |
|
Date of Appointment : |
02.06.2003 |
|
DIN No.: |
00428732 |
|
PAN No.: |
AAWPH4131M |
|
|
|
|
Name : |
Mr. Shuab Ahmed Qureshi |
|
Designation : |
Director |
|
Address : |
R 684, New Rajinder Nager, New Delhi – 110 006, India |
|
Date of Birth : |
10.08.1968 |
|
Qualification : |
Graduate |
|
Date of Appointment : |
11.09.1997 |
|
DIN No.: |
00428845 |
|
PAN No.: |
AAKPA2919C |
KEY EXECUTIVES
|
Name : |
Mr. Gaurav Garg |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Shuab Ahmed Qureshi |
123490 |
10.42 |
|
Qaiser Hussain |
288500 |
24.35 |
|
Arshia Ahmed Qureshi |
707010 |
59.66 |
|
Zareen Hussain Qureshi |
62500 |
5.27 |
|
Kahkashan Qureshi |
3500 |
0.30 |
|
Total
|
1185000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in processing and export of frozen buffalo meat
products. |
|
|
|
|
Exports : |
|
|
Countries : |
·
Vietnam ·
Malaysia ·
UAE ·
Egypt |
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|
|
|
Imports : |
|
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Products : |
·
Machinery |
|
Countries : |
·
Germany |
GENERAL INFORMATION
|
Suppliers : |
·
Al Mursalin Trader Private
Limited |
||||||||||||
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|
||||||||||||
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Customers : |
·
Lucky Frozen Foods |
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No. of Employees : |
1000 (Approximately) |
||||||||||||
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|
||||||||||||
|
Bankers : |
·
Bank
of Baroda, International Business Branch, 16, Sansad Marg, New Delhi – 110 001,
India ·
HDFC Bank Limited ·
ICICI Bank Limited ·
Axis Bank Limited ·
Kotak Mahindra Bank Limited |
||||||||||||
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||||||||||||
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Duggal Kundra and Company Chartered Accountants |
|
Address : |
301, Neel Kanth Plaza, Plot No.15, DDA Commercial Complex, Near Rani
Bagh, Pitampura, New Delhi – 110 034, India |
|
Tel. No.: |
91-11-27027974 |
|
E-Mail : |
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|
PAN No.: |
AHHPK4426G |
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|
|
|
Subsidiary Company : |
Al-Aali
Exports Private Limited, India (CIN No.: U51909DL2010PTC204184) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1185000 |
Equity Shares |
Rs.10/- each |
Rs.11.850
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
EQUITY AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
11.850 |
11.850 |
11.850 |
|
(b) Reserves & Surplus |
290.171 |
186.002 |
133.209 |
|
(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) |
302.021 |
197.852 |
145.059 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
139.628 |
212.265 |
195.172 |
|
(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 |
7.909 |
7.909 |
6.218 |
|
Total
Non-current Liabilities (3) |
147.537 |
220.174 |
201.390 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
540.062 |
485.089 |
305.143 |
|
(b) Trade payables |
1056.513 |
674.972 |
459.247 |
|
(c) Other current liabilities |
258.475 |
202.878 |
58.790 |
|
(d) Short-term provisions |
51.783 |
24.517 |
16.238 |
|
Total Current
Liabilities (4) |
1906.833 |
1387.456 |
839.418 |
|
|
|
|
|
|
TOTAL |
2356.391 |
1805.482 |
1185.867 |
|
|
|
|
|
|
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
652.634 |
645.306 |
594.167 |
|
(ii) Intangible Assets |
0.416 |
0.066 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.600 |
0.500 |
0.500 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
50.173 |
22.057 |
4.436 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
2.191 |
|
Total
Non-Current Assets |
703.823 |
667.929 |
601.294 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
481.730 |
492.318 |
251.679 |
|
(c) Trade receivables |
758.598 |
515.986 |
164.103 |
|
(d) Cash and cash equivalents |
329.270 |
88.005 |
104.346 |
|
(e) Short-term loans and advances |
82.970 |
41.244 |
64.445 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current
Assets |
1652.568 |
1137.553 |
584.573 |
|
|
|
|
|
|
TOTAL |
2356.391 |
1805.482 |
1185.867 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
10877.020 |
5045.786 |
2285.931 |
|
|
|
Other Income |
NA |
178.525 |
131.514 |
|
|
|
TOTAL |
NA |
5224.311 |
2417.445 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
NA |
|
2354.321 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
5084.185 |
2354.321 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
140.126 |
63.124 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
60.533 |
12.871 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
157.239 |
79.593 |
50.253 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
52.679 |
26.801 |
17.431 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
104.560 |
52.792 |
32.822 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
186.001 |
133.209 |
100.387 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
186.001 |
133.209 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
10122.303 |
4645.506 |
2205.066 |
|
|
TOTAL EARNINGS |
10122.303 |
4645.506 |
2205.066 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
88.24 |
44.55 |
27.70 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
11400.000 |
|
|
|
|
|
The above information has been parted by Mr. Gaurav Garg (Finance
Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
NA |
1.01 |
1.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.45 |
1.58 |
2.20 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
6.67 |
4.41 |
4.24 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52 |
0.40 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.25 |
3.52 |
3.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.87 |
0.82 |
0.70 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
11.850 |
11.850 |
11.850 |
|
Reserves & Surplus |
133.209 |
186.002 |
290.171 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
145.059 |
197.852 |
302.021 |
|
|
|
|
|
|
Long-term borrowings |
195.172 |
212.265 |
139.628 |
|
Short term borrowings |
305.143 |
485.089 |
540.062 |
|
Total borrowings |
500.315 |
697.354 |
679.690 |
|
Debt/Equity ratio |
3.449 |
3.525 |
2.250 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operation |
2285.931 |
5045.786 |
10877.020 |
|
|
|
120.732 |
115.566 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operation |
2285.931 |
5045.786 |
10877.020 |
|
Profit |
32.822 |
52.792 |
104.560 |
|
|
1.44% |
1.05% |
0.96% |
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 |
Yes |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
Yes |
|
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 |
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 |
LITIGATION DETAILS:
IN THE HIGH COURT OF DELHI AT NEW DELHI
CS (OS) 553/2006
HIND INDUSTRIES LIMITED...... Plaintiff
Through Mr. Ravinder Singh, Adv
Versus
MIRHA EXPORTS PRIVATE LIMITED and ORS. ..... Defendant
Through Mr. Manish Kumar, Adv
CORAM:
BHUPESH KUMAR (DHJS), JOINT REGISTRAR (JUDICIAL)
ORDER
No plaintiff’s witness is present.
Learned counsel for the plaintiff submits that the witness is suffering
from viral fever and as such he is unable to appear before the court. But no
the medical document of the witness has been placed on record. From perusal of
file, it is found that the plaintiff has failed to examine even a single
witness in this matter despite obtaining sufficient opportunities since
31.10.2007 when the issues were framed. The request for another adjournment
stands declined and plaintiff evidence stands closed by order.
On the other hand learned counsel for the defendant has submitted that
since the plaintiff has not examined any witness, the defendant also do
not want to lead any evidence. Separate statement of learned counsel for
the defendant recorded. Evidence of defendant stands closed accordingly.
Let the matter be placed before the Hon’ble Court for further directions
for 4th July, 2014.
BHUPESH KUMAR (DHJS)
JOINT REGISTRAR (JUDICIAL)
MAY 01, 2014/ab
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10501882 |
06/06/2014 |
40,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, 1ST FLOOR, 16, PARLIAMENT STREET, NEW DELHI, DELHI -
110001, INDIA |
C06069298 |
|
2 |
10468372 |
14/12/2013 |
60,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, 16, SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
B92794569 |
|
3 |
10441903 |
31/07/2013 |
60,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, PARLIAMENT STREET, DELHI - 110001, INDIA |
B81617904 |
|
4 |
10373235 |
09/08/2012 |
60,000,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH,
16, SANSAD MARG, NEW DELHI, DELHI - 110001, INDIA |
B56673593 |
|
5 |
10242117 |
09/09/2010 |
600,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A95648424 |
|
6 |
10127443 |
26/09/2008 |
1,419,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A49512007 |
|
7 |
10127442 |
10/09/2008 |
1,337,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS BRANCH,
PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A49510118 |
|
8 |
10125880 |
28/08/2008 |
1,400,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A48368153 |
|
9 |
90055444 |
03/02/2012 * |
977,500,000.00 |
BANK OF BARODA |
INTERNATIONAL BUSINESS
BRANCH, PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
B33077363 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Rupee term loans from banks |
101.220 |
170.790 |
|
Loans
and advances from related parties |
2.475 |
3.915 |
|
Other loans and advances |
35.933 |
37.560 |
|
SHORT-TERM
BORROWINGS |
|
|
|
Other loans and advances |
26.487 |
73.038 |
|
Total
|
166.115 |
285.303 |
SUBSIDIARY COMPANIES AND THEIR ACCOUNTS
Company taken over another
company as wholly owned subsidiary company on 15th October, 2012, named
as Al-Aali Exports Private Limited engaged in the same field of business.
DEMERGER
During the period, the
company has started the process of demerge, in this company indented to demerge
the Sahibabad unit of company and transfer the same to Al-Aali Export Private
Limited for better management, the appointed date for the demerger is 1st
April, 2012.
FIXED ASSETS:
Tangible Assets
·
Land
·
Buildings
·
Plant and Equipments
·
Furniture and
Fixtures
·
Office Equipment
·
Computer
·
Vehicles
Intangible Assets
·
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.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.