MIRA
INFORM REPORT
|
Report Date : |
14.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAMODAR INDUSTRIES LIMITED (W.E.F. 22.01.2013) |
|
|
|
|
Formerly Known
As : |
DAMODAR THREADS LIMITED |
|
|
|
|
Registered
Office : |
A1/202, Centre Point, 243-A, N.M. Joshi Marg, Lower Parel (East),
Mumbai – 400 013, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
11.12.1987 |
|
|
|
|
Com. Reg. No.: |
11-045575 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.89.007 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17110MH1987PLC045575 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD10204F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD3850G |
|
|
|
|
Legal Form : |
Public Limited Liability Company. The Company’s shares are listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturer, Seller and Exporter of Textile Products. |
|
|
|
|
No. of Employees
: |
800 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 |
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|
Comments : |
Subject is a well-established company having satisfactory track. The company possesses an acceptable financial profile marked by adequate
networth base and increase in its receivable period along with working
capital intensive nature of the operations resulting into leveraged capital
structure. Management has witnessed a better increase in its sales volume and a
reasonable profit during FY 14. The ratings also take into consideration, the fluctuation in the price
of raw materials and forex movements importing volatility to profitability. Moreover, the intense competition faced from a large number of
organized as well as unorganized players in the sector may affect the
business profile. However, trade relation seems to be fair. Business is active. Payment
terms are reported as usually correct. In view of resourcefulness and the experience 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Fixed Deposits=BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
24.06.2014 |
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. Nirbhai Bora |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-260-3264788 |
|
Date : |
12.07.2014 |
LOCATIONS
|
Registered Office : |
A1/202, Centre Point, 243-A, N.M. Joshi Marg, Lower Parel (East), Mumbai
– 400 013, Maharashtra |
|
Tel. No.: |
91-22-66610301/ 2 |
|
Fax No.: |
91-22-66610308 |
|
E-Mail : |
|
|
Website : |
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|
|
|
|
Factory 1 : |
Survey No.265/ 10/ 1, 2 and 3, Demni Road, Dadra Village, Dadra and
Nagar Haveli (U.T.) – 396 230, India |
|
Tel. No.: |
91-260-3264788 |
|
Fax No.: |
91-260-2668929 |
|
|
|
|
Factory 2 : |
Survey No.288/ 1/1, Old Dena Bank Road, Dadra Village, Dadra and Nagar
Haveli (U.T.) – 396 230, India |
|
Tel. No.: |
91-260-3294102 |
|
|
|
|
Factory 3 : |
Plot No. 165/ 67/ 68, Dabhel Industries, Co-operative Society, Dabhel,
Nani Daman – 396210, India |
|
|
|
|
Marketing Centre/Agency Network : |
Located at: ·
Mumbai ·
Surat ·
Bangalore ·
Salem ·
Belgaum ·
Bhanjan |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Arun Kumar Biyani |
|
Designation : |
Executive Chairman |
|
|
|
|
Name : |
Mr. Ajay D. Biyani |
|
Designation : |
Managing Director |
|
|
|
|
Name : |
Mr. Anil D. Biyani |
|
Designation : |
Executive Director |
|
|
|
|
Name : |
Mr. Girdharlal S. Daga |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Rajendra Prasad Khator |
|
Designation : |
Independent Director |
|
|
|
|
Name : |
Mr. Ashok Kumar Damani |
|
Designation : |
Independent Director |
KEY EXECUTIVES
|
Name : |
Mr. Subodh Kumar Soni |
|
Designation : |
Company Secretary and Compliance Officer |
|
|
|
|
Name : |
Mr. Nirbhai Bora |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 31.03.2014
|
Category of Shareholders |
No. of Shares |
Parentage of
holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
5671870 |
63.72 |
|
|
498000 |
5.60 |
|
|
6169870 |
69.32 |
|
|
|
|
|
Total shareholding of Promoter and Promoter Group (A) |
6169870 |
69.32 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
700 |
0.01 |
|
|
700 |
0.01 |
|
|
|
|
|
|
474219 |
5.33 |
|
|
|
|
|
|
918850 |
10.32 |
|
|
1327202 |
14.91 |
|
|
9809 |
0.11 |
|
|
1025 |
0.01 |
|
|
8784 |
0.10 |
|
|
2730080 |
30.67 |
|
Total Public shareholding (B) |
2730780 |
30.68 |
|
Total (A)+(B) |
8900650 |
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) |
8900650 |
0.00 |
(1) Indian
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Seller and Exporter of Textile Products. |
||||
|
|
|
||||
|
Products/ Services : |
·
Air Texturizing ·
Cotton Yarns ·
Fancy Texturizing ·
Linen Blends ·
Special Blends ·
Synthetic Yarns ·
Yarn Dyeing |
||||
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|
||||
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Exports : |
|
||||
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Products : |
Finished Goods |
||||
|
Countries : |
·
Bangladesh ·
Turkey ·
Pakistan |
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Imports : |
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Products : |
Machinery |
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Countries : |
Germany |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
·
Grasim Industries Limited ·
Arvind Mills limited ·
Siyaram Silk Mills Limited ·
Reliance Industries Limited ·
Garden Silk Mills Limited ·
Dicitex Décor Limited |
|
|
|
|
No. of Employees : |
800 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of India ·
Bank of Baroda ·
Union Bank of India ·
ING Vysya Bank |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A.J. Baliya and associates Chartered Accountants |
|
|
|
|
Associates : |
·
CSS Mercantiles Private Limited ·
Panna Yarns Private Limited ·
Shri Damodar Yarn Manufacturing Private Limited ·
Ajay Biyani HUF ·
Arun Kumar Biyani HUF ·
Suam Overseas 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 |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8900650 |
Equity Shares |
Rs. 10/- each |
Rs.89.007 Millions |
|
|
|
|
|
Reconciliation of the shares outstanding at the beginning and at the end
of the reporting period
|
Particulars |
Number of shares |
|
At the beginning of the period |
8900650 |
|
Issued during the period – Preferential
Basis |
-- |
|
Outstanding at the end of the period |
8900650 |
Terms/ rights attached to equity shares:
The company has only one class of equity share
having a par value of Rs.10 per share. Each holder of equity shares is entitled
to one vote per share. The company declares and pays dividends 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.
During the year ended 31st March 2013, the
amount d per share dividend recognized as distributions to equity shareholders
was Rs.2/-
In the event of liquidation of the company,
the holders of equity shares will be entitled to receive remaining assets of
the company, after distribution of all preferential amounts. The distribution
will be proportion to the number of equity shares held by the shareholders.
DETAIL OF SHAREHOLDERS HOLDING MORE THAN 5% SHARE IN THE COMPANY
|
Particulars |
31.03.2013 |
|
|
Equity Shares: |
Number of shares |
Percentage of holding |
|
Equity shares of Rs.10/- each fully paid |
|
|
|
Name of shareholder |
||
|
ArunKumar Biyani – Director |
1005000 |
11.29% |
|
Ajay D. Biyani – Director |
1210000 |
12.85% |
|
Anil D. Biyani – Director |
1143300 |
13.59% |
|
Manju Biyani |
493350 |
5.54% |
As per of the company, including its register
of shareholders/members and other declarations received from shareholders
regarding beneficial interest, the above shareholding represents both legal and
beneficial ownerships of shares.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
89.007 |
89.007 |
89.007 |
|
(b) Reserves & Surplus |
638.689 |
515.887 |
414.855 |
|
(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) |
727.696 |
604.894 |
503.862 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
444.181 |
509.530 |
523.453 |
|
(b) Deferred tax liabilities (Net) |
71.432 |
72.145 |
68.974 |
|
(c) Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
515.613 |
581.675 |
592.427 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
804.051 |
610.011 |
443.298 |
|
(b) Trade payables |
83.162 |
68.356 |
61.474 |
|
(c) Other current
liabilities |
140.231 |
196.843 |
145.085 |
|
(d) Short-term provisions |
21.622 |
20.883 |
20.979 |
|
Total Current Liabilities (4) |
1049.066 |
896.093 |
670.836 |
|
|
|
|
|
|
TOTAL |
2292.375 |
2082.662 |
1767.125 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
840.205 |
870.639 |
769.166 |
|
(ii) Intangible Assets |
5.247 |
0.537 |
0.517 |
|
(iii) Capital
work-in-progress |
27.609 |
0.000 |
2.549 |
|
(iv) Intangible
assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.004 |
0.004 |
0.009 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
5.281 |
2.893 |
13.260 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
878.346 |
874.073 |
785.501 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
476.222 |
497.201 |
497.220 |
|
(c) Trade receivables |
758.895 |
564.717 |
379.760 |
|
(d) Cash and cash
equivalents |
19.233 |
20.172 |
23.663 |
|
(e) Short-term loans and
advances |
159.665 |
126.472 |
80.482 |
|
(f) Other current assets |
0.014 |
0.027 |
0.499 |
|
Total Current Assets |
1414.029 |
1208.589 |
981.624 |
|
|
|
|
|
|
TOTAL |
2292.375 |
2082.662 |
1767.125 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
7349.776 |
5823.797 |
3924.003 |
|
|
|
Other Income |
2.928 |
13.426 |
6.195 |
|
|
|
TOTAL (A) |
7352.704 |
5837.223 |
3930.198 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material and Components consumed |
2478.095 |
2111.166 |
1993.243 |
|
|
|
Purchase of traded goods |
3536.683 |
2616.156 |
1153.715 |
|
|
|
(Increase)/ Decrease in Inventories |
1.147 |
(26.145) |
(51.699) |
|
|
|
Employee benefit expenses |
174.783 |
126.445 |
103.819 |
|
|
|
Other Expenses |
586.376 |
511.745 |
379.378 |
|
|
|
TOTAL (B) |
6777.084 |
5339.367 |
3578.456 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
575.620 |
497.856 |
351.742 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
235.397 |
214.151 |
176.180 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
340.223 |
283.705 |
175.562 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
111.132 |
98.281 |
89.875 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
229.091 |
185.424 |
85.687 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
81.297 |
63.704 |
26.330 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
147.794 |
121.720 |
59.357 |
|
|
|
|
|
|
|
|
|
ADD |
PREVIOUS YEARS’ BALANCE
BROUGHT FORWARD |
267.475 |
175.762 |
142.956 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General reserve |
|
20.000 |
10.000 |
|
|
|
Proposed Dividend |
|
7.120 |
14.241 |
|
|
|
Corporate Dividend Tax |
|
2.887 |
2.310 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
267.475 |
175.762 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value Yarn |
|
2634.204 |
1761.391 |
|
|
TOTAL EARNINGS |
NA |
2634.204 |
1761.391 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and stock-in-trade |
|
59.958 |
93.234 |
|
|
|
Plant and Machinery |
|
44.149 |
1.937 |
|
|
|
Stores and Spares |
|
2.045 |
1.423 |
|
|
|
Packaging Materials |
|
0.242 |
0.000 |
|
|
TOTAL IMPORTS |
NA |
106.394 |
96.594 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
16.60 |
13.68 |
6.67 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
2.01 |
2.09 |
1.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.12 |
3.18 |
2.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.12 |
8.90 |
4.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31 |
0.31 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.72 |
1.85 |
1.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.35 |
1.35 |
1.46 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
89.007 |
89.007 |
89.007 |
|
Reserves & Surplus |
414.855 |
515.887 |
638.689 |
|
Net
worth |
503.862 |
604.894 |
727.696 |
|
|
|
|
|
|
long-term borrowings |
523.453 |
509.530 |
444.181 |
|
Short term borrowings |
443.298 |
610.011 |
804.051 |
|
Total
borrowings |
966.751 |
1119.541 |
1248.232 |
|
Debt/Equity
ratio |
1.919 |
1.851 |
1.715 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales |
3,924.003 |
5,823.797 |
7,349.776 |
|
|
|
48.415 |
26.202 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Sales
|
3,924.003 |
5,823.797 |
7,349.776 |
|
Profit |
59.357 |
121.720 |
147.794 |
|
|
1.51% |
2.09% |
2.01% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/ Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10357973 |
29/05/2012 |
182,500,000.00 |
ING
VYSYA BANK LIMITED |
SHOP
NO.1, AUMSAHEEL TOWER, KASHINATHDHURU, COMPOUND,
OPP. KAMALA MILLS, S.B. MARG,LOWER PAREL, MUMBAI
– 400 080, MAHARASHTRA,
INDIA |
B40545717 |
|
2 |
10350097 |
28/03/2012 |
50,000,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, THE ARCADE, 2ND FLOOR, |
B37708419 |
|
3 |
10213676 |
27/03/2010 |
45,000,000.00 |
BANK
OF BARODA |
MUMBAI
MAIN BRANCH,, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI – 400 001,
MAHARASHTRA, INDIA |
A83608554 |
|
4 |
10179940 |
19/09/2009 |
29,000,000.00 |
UNION
BANK OF INDIA |
PLAZA
HOTEL COMPLEX, OPP. PATEL PETROL PUMP, VAPI - SILVASSA MAIN ROAD, SILVASSA,
DADAR NAGAR HAVELI – 396 230, INDIA |
A70453675 |
|
5 |
10162260 |
27/03/2010 * |
90,000,000.00 |
BANK
OF BARODA |
MUMBAI
MAIN BRANCH, 10/12, MUMBAI SAMACHAR MARG, FORT, MUMBAI – 400 001,
MAHARASHTRA, INDIA |
A83608646 |
|
6 |
10034689 |
08/06/2012 * |
1,278,300,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, "THE ARCAD |
B41879446 |
|
7 |
10037231 |
08/06/2012 * |
752,800,000.00 |
STATE
BANK OF INDIA |
INDUSTRIAL
FINANCE BRANCH, 2ND FLOOR, "THE ARCAD |
B41878968 |
|
8 |
10033172 |
16/12/2006 |
300,000,000.00 |
BANK
OF BARODA |
MUMBAI
MAIN BRANCH, 10/12, M. S. MARG, MUMBAI – 400 001, MAHARASHTRA, INDIA |
A08819443 |
|
9 |
10032834 |
12/12/2006 |
300,000,000.00 |
STATE
BANK OF INDIA |
STATE
BANK BHAVAN, MADAMECAMA ROAD, NARIMAN POINT, MUMBAI – 400 021, MAHARASHTRA,
INDIA |
A08927006 |
|
10 |
90243197 |
12/07/1994 |
18,000,000.00 |
BANK
OF BARODA |
IFB BRANCH,
BAROODA HOUSE, CP STREET; FORT, MUMBAI – 400 001, MAHARASHTRA, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
Tangible Assets:
·
Free hold Land
·
Residential Flats
·
Buildings
·
Electrical Installation
·
Furniture and Fixtures
·
Vehicles
·
Air Conditioners
·
Generators
·
Weighing Scale
·
Other Equipments
·
Computers
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 records 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.60.19 |
|
|
1 |
Rs.103.15 |
|
Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
|
Information Gathered
by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
45 |
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.