MIRA
INFORM REPORT
|
Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
DIAMINES AND CHEMICALS LIMITED |
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Registered
Office : |
Plot No. 13, PCC Area, Popetrochemicals, Vadodara - 391346, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
12.05.1976 |
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Com. Reg. No.: |
04-002905 |
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Capital
Investment / Paid-up Capital : |
Rs. 97.832 Millions |
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CIN No.: [Company Identification
No.] |
L24110GJ1976PLC002905 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDD00734G |
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Legal Form : |
A Public Limited Liability Company. The company’s shares are listed on
stock exchange. |
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Line of Business
: |
Manufacturer, Importer and Exporter of Chemicals. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. There
appears some dip in the turnover of the company during the year. However,
trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings 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 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 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 |
A4+ (Bank Guarantee) (Downgraded from A3+) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk. |
|
Date |
18.12.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
BB+ (Cash Credit) (Downgraded from BBB) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
18.12.2012 |
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-Cooperative
Contact No.: 91-265-2230305
LOCATIONS
|
Registered Office / Factory : |
Plot No. 13, PCC Area, Popetrochemicals, Vadodara-391346, Gujarat,
India |
|
Tel. No.: |
91-265-2230305/2230406/2230929/ 2230762/ 2250708 |
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Fax No.: |
91-265-2230218/2230708 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Yogesh Kothari |
|
Designation : |
Chairman Cum Managing Director |
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Name : |
Mr. Shreyas Mehta |
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Designation : |
Independent Director |
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Name : |
Mr. Girish R Satarkar |
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Designation : |
Executive Director |
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Name : |
Mr. Amit Mehta |
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Designation : |
Vice Chairman |
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Name : |
Mr. G. G. Chendwankar |
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Designation : |
Director |
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Name : |
Mr. Kirat Patel |
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Designation : |
Director |
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Name : |
Mr. Rajendra Chhabra |
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Designation : |
Director |
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Name : |
Mr. Dhruv Kaji |
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Designation : |
Director |
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Name : |
Mr. G. S. Venkatachalam |
|
Designation : |
Director |
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|
Name : |
Dr. Ambrish Dalal |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Ms. Dimple Mehta |
|
Designation : |
Assistant
Company Secretary |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category
of Shareholder |
Total
No. of Shares |
Total
Shareholding as a % of Total No. of Shares |
|
(A) Shareholding
of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
2382214 |
24.35 |
|
|
3996563 |
40.85 |
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|
6378777 |
65.20 |
|
|
|
|
|
Total
shareholding of Promoter and Promoter Group (A) |
6378777 |
65.20 |
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|
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|
|
(B) Public
Shareholding |
|
|
|
|
|
|
|
|
4439 |
0.05 |
|
|
511 |
0.01 |
|
|
300 |
0.00 |
|
|
5250 |
0.05 |
|
|
|
|
|
|
174349 |
1.78 |
|
|
|
|
|
|
1966206 |
20.10 |
|
|
1157729 |
11.83 |
|
|
100929 |
1.03 |
|
|
100929 |
1.03 |
|
|
3399213 |
34.75 |
|
Total Public
shareholding (B) |
3404463 |
34.80 |
|
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|
|
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Total (A)+(B) |
9783240 |
100.00 |
|
|
|
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|
(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 |
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|
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|
Total (A)+(B)+(C) |
9783240 |
100.00 |
(1) Indian
Individuals / Hindu Undivided Family
Individual shareholders holding nominal
share capital up to Rs. 0.100 Million 
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Chemicals. |
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Products : |
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PRODUCTION STATUS (AS ON : 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity* |
Actual
Production** |
|
Ethylene diamines / amines and derivatives * |
|
|
|
|
Through EDC Plant |
MT |
2600** |
584.036 |
|
Through CPA Plant |
MT |
2900 |
1970.176 |
* As certified by
the management
** Presently EDC
Plant has commenced its commercial production in September, 2009. However, at
any given point of time, either EDC or CPA route can be operated.
** Includes production
of NIL (Previous Year 182.390 MT) on account of tolling arrangement entered
with third party
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
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Bankers : |
·
State Bank of India, Vadodara ·
Axis Bank Limited, Vadodara |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Bansi S Mehta and Company Chartered Accountants |
|
Address : |
11-13, Botawala Building, 2nd Floor, Horniman Circle, Fort,
Mumbai-400001, Maharashtra, India |
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Associates : |
Alkyl Amines and Chemicals Limited |
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|
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|
Enterprises over which Associate exercises
significant influence - Subsidiary of Associate |
·
Alkyl Speciality Chemicals Limited ·
Alkyl Amines Europe SPRL |
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Subsidiaries : |
Diamines Speciality Chemicals Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs. 97.832 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17500000 |
Equity Shares |
Rs.10/- each |
Rs. 175.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9783240 |
Equity Shares |
Rs.10/- each |
Rs. 97.832
Millions |
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|
|
|
|
NOTES
Reconciliation of The Number of Shares Outstanding And Amount of Share
Capital
|
Particulars |
As At 31.03.2013 |
|
|
Equity shares, of Rs. 10 par value |
No. of shares |
Rs. In Millions |
|
At the beginning |
9,783,240 |
97.832 |
|
Add: Issued
during the year - by way of Bonus Shares |
Nil |
Nil |
|
At the end |
9,783,240 |
97.832 |
Rights, Preferences And Restrictions
i. The Company has
only one class of shares referred to as equity shares having par value of
Rs.10. Each holder of equity shares is entitled to one vote per share.
ii. 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. The Board of Directors, in their meeting on May 7,
2013, proposed a final dividend of Rs. 0.5 per equity share. The proposal is
subject to the approval of shareholders at the Annual General Meeting. The
total dividend appropriation for the year ended March 31, 2013 amounted to
Rs.5.723 Millions including corporate dividend tax of Rs. 0.831 Million. During
the year ended March 31, 2012, the amount of per share dividend recognised as
distribution to equity shareholders was Rs.1. The total dividend appropriation
for the year ended March 31, 2012 amounted to Rs.11.370 Millions including
corporate dividend tax of Rs. 1.587 Millions.
iii. In the event
of liquidation of the Company, the holders of equity shares will be entitled to
receive any of the 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.
Details of Shareholders Holding More Than 5% of The Aggregate Equity
Shares In The Company
|
|
As At 31.03.2013 |
|
|
Name of the Shareholder |
No. of shares |
% |
|
Alkyl Amines Chemicals Limited |
2,977,996 |
30.44 |
|
Mr. Amit Mehta |
862,099 |
8.81 |
|
Perfochem (India) Private Limited |
840,000 |
8.59 |
|
Mrs. Cherry Amit Mehta |
695,178 |
7.11 |
|
|
5,375,273 |
54.95 |
Shares Allotted As
Fully Paid Up By Way of Bonus Shares (During 5 Years Immediately Preceeding
March 31, 2013)
|
|
No of Shares |
|
Equity Shares allotted as fully paid up Bonus |
3,261,080 |
|
Shares by capitalisation of the following amounts: |
Rs. In Millions |
|
Capital Reserve |
3.442 |
|
Capital Redemption Reserve |
1.407 |
|
Securities Premium |
18.857 |
|
General Reserve |
8.905 |
|
Total |
32.611 |
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 |
97.832 |
97.832 |
97.832 |
|
(b) Reserves & Surplus |
253.317 |
246.800 |
236.505 |
|
(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) |
351.149 |
344.632 |
334.337 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
51.943 |
31.119 |
49.085 |
|
(b) Deferred tax liabilities
(Net) |
36.040 |
35.419 |
34.922 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
1.475 |
1.533 |
1.614 |
|
Total
Non-current Liabilities (3) |
89.458 |
68.071 |
85.621 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
119.011 |
146.196 |
184.236 |
|
(b) Trade payables |
44.904 |
55.098 |
76.297 |
|
(c) Other current liabilities |
43.254 |
35.141 |
50.763 |
|
(d) Short-term provisions |
4.279 |
9.821 |
14.998 |
|
Total
Current Liabilities (4) |
211.448 |
246.256 |
326.294 |
|
|
|
|
|
|
TOTAL |
652.055 |
658.959 |
746.252 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
315.177 |
332.345 |
345.015 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
0.000 |
4.152 |
9.299 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.467 |
1.467 |
1.067 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
100.377 |
65.452 |
46.353 |
|
(e) Other Non-current assets |
0.000 |
0.289 |
0.289 |
|
Total
Non-Current Assets |
417.021 |
403.705 |
402.023 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
124.025 |
115.991 |
190.555 |
|
(c) Trade receivables |
80.672 |
103.432 |
103.474 |
|
(d) Cash and cash equivalents |
9.187 |
20.886 |
20.218 |
|
(e) Short-term loans and
advances |
20.310 |
13.664 |
28.664 |
|
(f) Other current assets |
0.840 |
1.281 |
1.318 |
|
Total
Current Assets |
235.034 |
255.254 |
344.229 |
|
|
|
|
|
|
TOTAL |
652.055 |
658.959 |
746.252 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Revenue from operations |
438.225 |
574.028 |
668.617 |
|
|
Other Income |
4.204 |
2.304 |
3.769 |
|
|
TOTAL
|
442.429 |
576.332 |
672.386 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials Consumed |
277.652 |
292.706 |
423.292 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(22.492) |
65.407 |
(31.662) |
|
|
Employees benefits expense |
33.532 |
32.117 |
33.075 |
|
|
Power and Fuel |
41.070 |
0.000 |
0.000 |
|
|
Other expenses |
50.645 |
102.618 |
139.888 |
|
|
TOTAL
|
380.407 |
492.848 |
564.593 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
62.022 |
83.484 |
107.793 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.824 |
38.112 |
35.867 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
32.198 |
45.372 |
71.926 |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION |
24.267 |
23.870 |
21.580 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
7.931 |
21.502 |
50.346 |
|
|
|
|
|
|
|
Less |
TAX |
0.427 |
4.497 |
14.304 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
7.504 |
17.005 |
36.042 |
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
164.099 |
152.817 |
128.145 |
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
Dividend |
NA |
5.723 |
11.370 |
|
|
Total
(M) |
NA |
5.723 |
11.370 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
NA |
164.099 |
152.817 |
|
|
|
|
|
|
|
|
EARNINGS
IN FOREIGN CURRENCY |
|
|
|
|
|
F.O.B. Value of Exports |
NA |
29.754 |
94.453 |
|
|
TOTAL
EARNINGS |
NA |
29.754 |
94.453 |
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
Raw Materials |
NA |
223.899 |
277.463 |
|
|
TOTAL
IMPORTS |
NA |
223.899 |
277.463 |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
0.77 |
1.74 |
3.68 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.70 |
2.95 |
5.36 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.81 |
3.75 |
7.53 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.22 |
3.29 |
6.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.06 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.49 |
0.52 |
0.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
1.04 |
1.05 |
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 |
97.832 |
97.832 |
97.832 |
|
Reserves & Surplus |
236.505 |
246.800 |
253.317 |
|
Net
worth |
334.337 |
344.632 |
351.149 |
|
|
|
|
|
|
long-term borrowings |
49.085 |
31.119 |
51.943 |
|
Short term borrowings |
184.236 |
146.196 |
119.011 |
|
Total
borrowings |
233.321 |
177.315 |
170.954 |
|
Debt/Equity
ratio |
0.698 |
0.515 |
0.487 |
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) |
|
Revenue from operations |
668.617 |
574.028 |
438.225 |
|
|
|
(14.147) |
(23.658) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
668.617 |
574.028 |
438.225 |
|
Profit/(Loss) After Tax |
36.042 |
17.005 |
7.504 |
|
|
5.39% |
2.96% |
1.71% |
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 |
No |
|
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 |
No |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
No |
|
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 CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10020899 |
24/03/2014 * |
339,200,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA,
GUJARAT - 390007, INDIA |
C00502997 |
|
2 |
80003939 |
19/05/2006 * |
52,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007,
INDIA |
- |
|
3 |
80003941 |
22/04/2013 * |
443,500,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT
- 390007, INDIA |
B74719980 |
|
4 |
90107960 |
18/02/2005 * |
162,900,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL FINANCE
BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT - 390007, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
Particulars |
Rs.
In Millions 31.03.2014 |
Rs.
In Millions 31.03.2013 |
|
Short-term Borrowings |
|
|
|
Deposits - Inter
Corporate |
|
|
|
From a Related Party |
NA |
2.300 |
|
Other loans and
advances |
|
|
|
Loan from a Director |
NA |
2.500 |
|
|
|
|
|
TOTAL |
NA |
4.800 |
CONTINGENT
LIABILITIES (TO THE EXTENT NOT PROVIDED FOR):
|
Particulars |
Rs.
In Millions 31.03.2014 |
Rs.
In Millions 31.03.2013 |
|
Claims against the Company not acknowledged
as debts |
NA |
1.436 |
|
Guarantees issued by the bankers on behalf of
the Company |
NA |
1.047 |
|
In
respect of the various advance licenses issued to the Company for the
purposes of fulfilling the export and other related customs formalities, the
Company has filed appeals and matters are pending before the Directorate
General of Foreign trade (DGFT). |
NA |
6.472 |
|
Demand
(including interest thereon), by the Provident Fund Authorities pending
before the Gujarat High Court [(Net of Provisions of Contingencies of Rs.1.000
Million. |
NA |
2.350 |
|
Matters under disputes/appeals |
|
|
|
Income-tax |
NA |
NIL |
|
Service Tax/ Excise |
NA |
8.456 |
FIXED ASSETS
·
Land
·
Freehold Land
·
Building
·
Plant and Machinery
·
Furniture and Fixtures
·
Office Equipments
·
Vehicles
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 60.33 |
|
UK Pound |
1 |
Rs. 103.18 |
|
Euro |
1 |
Rs. 81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
33 |
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.