MIRA
INFORM REPORT
|
Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
MITTAL APPLIANCES LIMITED (w.e.f. 15.09.1995) |
|
|
|
|
Formerly Known
As : |
MITTAL APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 13, 1st Floor, Swastik Industrial Estate, 178, Vidyanagari
Marg, Kalina, Mumbai – 400098, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
19.01.1985 |
|
|
|
|
Com. Reg. No.: |
11-174619 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.920 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28122MH1985PLC174619 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM1903A |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture and Exporter of Aluminum Utensils. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
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 a satisfactory track record. General financial position of the company is good. Trade relations are reported as fair. Business is active. Payment
terms are reported as usually correct. The company can be considered normal 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 |
CARE |
|
Rating |
Long Term Bank Facilities: BBB |
|
Rating Explanation |
Moderate degree of safety. It carry moderate
credit risk. |
|
Date |
February 04, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A3+ |
|
Rating Explanation |
Moderate degree of safety. It carry higher
credit risk. |
|
Date |
February 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 DENIED
MANAGEMENT NON CO-OPERATIVE (91-731-3011800)
LOCATIONS
|
Registered Office : |
Unit No.13, 1st Floor, Swastik Industrial Estate, 178,
Vidyanagari Marg, Kalina, Mumbai – 400098, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head/ Corporate Office : |
303, Apollo Trade Centre, Geeta Bhavan Square, A.B. Road, Indore –
452001, Madhya Pradesh, India |
|
Tel. No.: |
91-731-3091800 |
|
Fax No.: |
91-731-3044753 |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No.75, Industrial Area No. II, Pithampur, Dhar – 454775, Madhya
Pradesh, India |
|
Tel No.: |
91-7292-329590/ 93 |
|
Fax No.: |
91-7292-256738 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Dinesh Chand Mittal |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
Manak 15A/22, |
|
Date of Birth/Age : |
04.02.1951 |
|
Qualification : |
MBA Finance |
|
Experience : |
32 years |
|
Date of Appointment : |
01.08.1990 |
|
DIN No.: |
00127385 |
|
|
|
|
Name : |
Mr. Anshul Mittal |
|
Designation : |
Executive Director |
|
Address : |
Manak 15A/22, |
|
Date of Birth/Age : |
27.07.1977 |
|
Qualification : |
B.S. in Industrial Engineering |
|
Experience : |
12 years |
|
Date of Appointment : |
01.01.1996 |
|
PAN No.: |
AFDPM4778H |
|
DIN No.: |
00139786 |
|
|
|
|
Name : |
Mr. Anil Kumar Sharma |
|
Designation : |
Director |
|
Address : |
EK-293, Scheme No. 54, Vijay Nagar, Indore-452010, |
|
Date of Birth/Age : |
28.03.1968 |
|
Date of Appointment : |
09.02.2007 |
|
DIN No.: |
00216361 |
|
|
|
|
Name : |
Mr. Harsh Kumar Maheshwary |
|
Designation : |
Director |
|
Address : |
502-B, Manavsthal II, Gokul Dham, Goregaon (East), Mumbai-400063,
Maharashtra, India |
|
Date of Birth/Age : |
04.02.1950 |
|
Date of Appointment : |
10.03.2005 |
|
DIN : |
00088660 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders (Equity Shareholders) |
No. of Shares |
|
Rajrani Mittal |
460000 |
|
Anshul Mittal |
252000 |
|
Dinesh Chand
Mittal (HUF) |
67000 |
|
Ankit Mittal |
275000 |
|
Rajshree Finsec
Private Limited, India |
100000 |
|
Rajshree Overseas
Private Limited, |
50000 |
|
Network Capital Market Limited, |
150000 |
|
Shweta Mittal |
38000 |
|
Manavhit Developers Private Limited, |
20000 |
|
Ananya Buildcon and Real Estate Private Limited, |
20000 |
|
Dharohar Infrastructure Private Limited, |
20000 |
|
Treasure Buildcon Private Limited, |
20000 |
|
Feel Home Real Estate Private Limited, |
20000 |
|
Anshul Developers Private Limited, India |
200000 |
|
|
|
|
Total |
1692000 |
|
Names of Shareholders (Preferences Shareholders) |
No. of Shares |
|
|
|
|
Anshul Developers Private Limited, India |
500000 |
|
|
|
|
Total |
500000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
35.46 |
|
Directors or relatives of Directors |
64.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Exporter of Aluminum Utensils. |
||||||||
|
|
|
||||||||
|
Products : |
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Finished Goods |
||||||||
|
Countries : |
Germany Dubai |
||||||||
|
|
|
||||||||
|
Imports : |
|
||||||||
|
Products : |
Raw Material |
||||||||
|
Countries : |
Germany Dubai Kuwait |
||||||||
|
|
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash and Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
·
UCO Bank, Gram Pipliahana, Tilak Nagar, Indore
Branch, Indore-452001, Madhya Pradesh, India ·
Bank of India, Mid Corporate Branch, · ICICI Bank, Indore, Madhya Pradesh, India · Axis Bank, 1, Kamal Palace, Y. N. Road, Indore - 452001, Madhya Pradesh, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. Mehta and Company Chartered Accountants |
|
Address : |
11/5, South Tukoganj, Nath Mandir Road, Indore – 452001, Madhya
Pradesh, India |
|
Tel. No.: |
91-731-4065948 / 2511011 / 2511022 (O) / 2431713 / 2523117 |
|
Mobile No.: |
91-9826294918 |
|
Fax No.: |
91-731-2523117 |
|
Website : |
|
|
PAN No.: |
AAGFM2167A |
|
|
|
|
Associate
Companies |
· Ganagaram Mohanlal Mittal and Sons · Anshul Devlopers Private Limited · Manavhit Finvest Builders Private Limited · Antardhara Estate and Finvest Private Limited · Mittal Utensils Private Limited · Manak Utensils Private Limited · Mangalmaya Estate and Finvest Private Limited |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
|
500000 |
10% Non-Cumulative Redeemable Preferences
Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.155.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1692000 |
Equity Shares |
Rs.10/- each |
Rs.16.920
Millions |
|
500000 |
Preferences Shares |
Rs.10/- each |
Rs.5.000
Millions |
|
|
|
|
|
|
|
Total |
|
Rs.21.920 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 |
21.920 |
21.920 |
21.920 |
|
(b) Reserves & Surplus |
342.226 |
271.848 |
224.785 |
|
(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) |
364.146 |
293.768 |
246.705 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
185.991 |
134.609 |
135.339 |
|
(b) Deferred tax liabilities (Net) |
24.358 |
25.674 |
26.418 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
7.575 |
6.080 |
5.758 |
|
Total Non-current Liabilities (3) |
217.924 |
166.363 |
167.515 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
213.760 |
494.962 |
210.830 |
|
(b) Trade payables |
287.435 |
727.526
|
678.427
|
|
(c) Other current
liabilities |
57.185 |
48.022
|
34.900
|
|
(d) Short-term provisions |
4.786 |
4.148
|
9.773
|
|
Total Current Liabilities (4) |
563.166 |
1274.658 |
933.930 |
|
|
|
|
|
|
TOTAL |
1145.236 |
1734.789 |
1348.150 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
152.706 |
159.937 |
160.313 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
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 |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
25.473 |
24.170 |
23.031 |
|
(e) Other Non-current assets |
0.000 |
0.538 |
2.292 |
|
Total Non-Current Assets |
178.179 |
184.645 |
185.636 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
215.011 |
367.946
|
275.217
|
|
(c) Trade receivables |
385.078 |
640.615
|
552.563
|
|
(d) Cash and cash
equivalents |
183.483 |
403.760
|
211.137
|
|
(e) Short-term loans and
advances |
153.669 |
124.309 |
103.145 |
|
(f) Other current assets |
29.816 |
13.514 |
20.452 |
|
Total Current Assets |
967.057 |
1550.144 |
1162.514 |
|
|
|
|
|
|
TOTAL |
1145.236 |
1734.789 |
1348.150 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4591.148 |
3732.456 |
2929.984 |
|
|
|
Other Income |
43.329 |
21.266 |
9.918 |
|
|
|
TOTAL (A) |
4634.477 |
3753.722 |
2939.902 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
4034.519 |
3354.250 |
2431.984 |
|
|
|
Purchases of stock-in-trade |
0.000 |
178.573 |
89.256 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
183.903 |
(133.305) |
135.469 |
|
|
|
Employee benefit expense |
36.521 |
31.728 |
29.012 |
|
|
|
Other Expenses |
172.682 |
174.375 |
132.497 |
|
|
|
TOTAL (B) |
4427.625 |
3605.621 |
2818.218 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
206.852 |
148.101 |
121.684 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
92.043 |
61.242 |
62.119 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
114.809 |
86.859 |
59.565 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
13.058 |
11.341 |
11.348 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
101.751 |
75.518 |
48.217 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.248 |
24.806 |
17.882 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
72.503 |
50.712 |
30.335 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
117.326 |
72.863 |
52.720 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
2.600 |
2.600 |
2.000 |
|
|
|
Proposed Dividend (Including Tax Thereon) |
3.531 |
3.531 |
3.193 |
|
|
BALANCE CARRIED
TO THE B/S |
183.675 |
117.326 |
72.863 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
1018.200 |
461.700 |
266.300 |
|
|
TOTAL EARNINGS |
1018.200 |
461.700 |
266.300 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
42.51 |
29.63 |
19.94 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.56
|
1.35
|
1.03
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.22
|
2.02
|
1.65
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.89
|
4.35
|
3.58
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.26
|
0.20
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.10
|
2.14
|
1.40
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.72
|
1.22
|
1.24
|
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 |
21.920 |
21.920 |
21.920 |
|
Reserves & Surplus |
224.785 |
271.848 |
342.226 |
|
Net
worth |
246.705 |
293.768 |
364.146 |
|
|
|
|
|
|
long-term borrowings |
135.339 |
134.609 |
185.991 |
|
Short term borrowings |
210.830 |
494.962 |
213.760 |
|
Total
borrowings |
346.169 |
629.571 |
399.751 |
|
Debt/Equity
ratio |
1.403 |
2.143 |
1.098 |
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 |
2929.984 |
3732.456 |
4591.148 |
|
|
|
27.388 |
23.006 |
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 |
2929.984 |
3732.456 |
4591.148 |
|
Profit |
30.335 |
50.712 |
72.503 |
|
|
1.04% |
1.36% |
1.58% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBTS
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
|
Current Maturity of Long Term Borrowings |
35.240 |
15.499 |
18.202 |
|
|
|
|
|
|
Total |
35.240
|
15.499
|
18.202 |
|
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 |
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE:
The Registered office of the company has been
shifted from, 402, Meridian Apartment, 3rd Wing, Veera Desai Road, Andheri
(West), Mumbai – 400058, Maharashtra, to the present address w.e.f. 01.04.2013
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advance from directors |
55.938 |
61.513 |
|
Loans and advance from others |
54.174 |
50.434 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Loans and advance from related parties |
1.024 |
1.141 |
|
|
|
|
|
Total |
111.136 |
113.088 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10418496 |
27/02/2013 |
100,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai, |
B72809668 |
|
2 |
10282765 |
10/10/2012 * |
2,343,700,000.00 |
UCO Bank Consortium |
Tilak Nagar, Gram Pipliahana, Indore, Madhya Pradesh - 452001, INDIA |
B63253355 |
|
3 |
10289531 |
25/04/2011 |
18,800,000.00 |
Bank of India |
MCB Indore, 3rd Floor, 345-A, PU-4, Scheme No.54, Indore, Madhya
Pradesh - 452010, INDIA |
B14001432 |
|
4 |
10031910 |
24/11/2006 |
100,000,000.00 |
UCO BANK |
PIPLIAHANA BRANCH, TILAK NAGAR, INDORE, Madhya Pradesh - 452018, INDIA
|
A09067968 |
* Date of charge modification
PERFORMANCE
The total
Production of Copper Alloys, Coin Blanks, Strips and others Products during the
year was 8346 MT as compared to 6777 MT during last year. With the improvement
in the global economy and ongoing Coinage order from the India Government Mint,
the company achieved higher Sales and profitability during this year. The Sales
and Profit after Tax is Rs.5134.385 millions and Rs. 72.503 millions
respectively as compared to Rs. 4083.184 millions and Rs. 50.712 millions
during last year. The company is hopeful to continue to perform better in the
Current year.
FIXED ASSETS
·
Land
·
Factory Building
·
Plant and Machinery
·
Scooter
·
Computer
·
Photo Copier
·
Laboratory Equipment
·
Dies and Moulds
·
Motor Cars
·
Fax
·
Office Equipment
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.60.18 |
|
|
1 |
Rs.103.14 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
46 |
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.