MIRA
INFORM REPORT
|
Report Date : |
19.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
SHREE RAMA NEWSPRINT LIMITED (w.e.f. 18.06.2013) |
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|
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Formerly Known
As : |
RAMA NEWSPRINT AND PAPERS LIMITED |
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Registered
Office : |
Village Barbodhan, Taluka Olpad, |
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Country : |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
10.07.1991 |
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Com. Reg. No.: |
04-019432 |
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Capital Investment
/ Paid-up Capital : |
Rs.581.580 Millions |
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CIN No.: [Company Identification
No.] |
L21010GJ1991PLC019432 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMR05789A/ SRTR00039E |
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PAN No.: [Permanent Account No.] |
AAACR2499H |
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Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacturing of Newsprint, Writing and Printing Papers. |
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No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The rating is constrained on account of SRNP’s ongoing delays in the servicing of rated
debt obligations due to the stressed liquidity profile marked by continues
losses at operational level and weak financial risk profile. Business is active. Payment terms are slow and delayed. The company can be considered for business dealings on safe and
secured 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=D |
|
Rating Explanation |
Instruments with the rating inadequate and
expected to be in default on maturity. |
|
Date |
05.02.2014 |
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
31-03-2014.
LOCATIONS
|
Registered Office/ Factory : |
Barbodhan, Taluka Olpad, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
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E-Mail : |
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|
Website : |
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Head Office: |
181-B, Maker
Tower "E", Cuffe Parade, Mumbai – 400005, Maharashtra, India |
|
Tel. No.: |
91-22-22183791 |
|
Fax No.: |
91-22-22180136/
2188406 |
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E-Mail : |
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Corporate Office : |
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|
Tel. No.: |
91-22-22821025/ 1014/ 1048 |
|
Fax No.: |
91-22-22821083 |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Mr. Shree Kumar Bangur |
|
Designation : |
Chairman Cum Managing Director |
|
Date of Birth/Age : |
16.11.1949 |
|
Qualification : |
B.Com |
|
Experience : |
An industrialist of
repute with extensive experience of paper industry and general management of
Corporate and Industrial affairs. He is also past president of Indian Paper
Manufacturers Association. He is also a Committee Member of Federation of
Indian Chamber of Commerce and Industry (FICCI), Indian Chamber of Commerce
and Bharat Chamber of Commerce. |
|
|
|
|
Name : |
Mr. Virendraa Bangur |
|
Designation : |
Vice Charman |
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|
Name : |
Mr. K.L. Chandak |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Lt. Gen (Retired) Ashok Kapur |
|
Designation : |
Independent Director |
|
Date of Birth/Age : |
13.05.1947 |
|
Qualification : |
Completed 10th, joined |
|
Experience : |
Lt. Gen. (Retd.) Ashok Kapur
has a vast administrative experience having successfully performed various
assignments in the Indian Army. At the time of his retirement from the Indian
Army he was Chief of Staff, Southern Command, Pune. Post retirement he was
Director General of operations and administration of Military World Games and
Additional Director General, Common Wealth Youth Games in Pune. |
|
|
|
|
Name : |
Mr. Janak Mehta |
|
Designation : |
Independent Director |
|
Date of Appointment : |
26.10.1963 |
|
|
Commerce Graduate |
|
|
Mr. Janak Mehta is the
Promoter and President of M/s. LKP Securities Ltd. He has attended various
executive programmers at |
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|
|
|
Name : |
Mr. Narayan Atal |
|
Designation : |
Independent Director |
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|
|
|
Name : |
Mr. P.S. Maharaj |
|
Designation : |
Executive Director |
KEY EXECUTIVES
|
Name : |
Mr. Girish Sharma |
|
Designation : |
Sr. Vice President (F & A) & Company Secretary |
MAJOR SHAREHOLDERS
AS ON 31.03.2014
|
Category of Shareholders |
No. of Shares |
Percentage of
Holdings |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
Individuals / Hindu Undivided Family |
1711535 |
2.94 |
|
|
26872577 |
46.21 |
|
|
28584112 |
49.15 |
|
|
|
|
|
|
246839 |
0.42 |
|
|
564850 |
0.97 |
|
|
811689 |
1.40 |
|
Total shareholding of Promoter and Promoter Group (A) |
29395801 |
50.54 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
58325 |
0.10 |
|
|
21800 |
0.04 |
|
|
60725 |
0.10 |
|
|
12300 |
0.02 |
|
|
12300 |
0.02 |
|
|
153150 |
0.26 |
|
|
|
|
|
|
3334913 |
5.73 |
|
|
|
|
|
|
18583053 |
31.95 |
|
|
5065276 |
8.71 |
|
|
1625839 |
2.80 |
|
|
1200009 |
2.06 |
|
|
650 |
0.00 |
|
|
200 |
0.00 |
|
|
550 |
0.00 |
|
|
424105 |
0.73 |
|
|
325 |
0.00 |
|
|
28609081 |
49.19 |
|
Total Public shareholding (B) |
28762231 |
49.46 |
|
Total (A)+(B) |
58158032 |
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) |
58158032 |
0.00 |
(1) Indian
Shareholding of securities (including shares, warrants,
convertible securities) of persons belonging to the category Promoter and
Promoter Group
|
Category of Shareholders |
No. of Shares |
Percentage of
Holdings |
|
West Coast Paper Mills Limited |
2,11,24,791 |
36.32 |
|
Orbit Udyog Private Limited |
5,81,326 |
1.00 |
|
Shree Satyanarayan Investments Co Limited |
14,92,645 |
2.57 |
|
The Diamond Company Limited |
5,40,348 |
0.93 |
|
Gold Mohre Investment Company Limited |
3,06,435 |
0.53 |
|
Soumya Trade & Fiscal Services Private Limited |
7,15,015 |
1.23 |
|
The Indra Company Limited |
5,28,769 |
0.91 |
|
Veer Enterprises Limited |
15,83,248 |
2.72 |
|
Indo Gulf Enterprises Limited |
5,64,850 |
0.97 |
|
Rangnath Shree Kumar |
60,725 |
0.10 |
|
Shree Kumar Bangur |
13,27,885 |
2.28 |
|
Shashi Devi Bangur |
25,015 |
0.04 |
|
Virendra Bangur |
2,45,352 |
0.42 |
|
Saurabh Bangur |
52,558 |
0.09 |
|
Ramesh Kumar Rochiram Narang |
2,46,839 |
0.42 |
|
Total |
2,93,95,801 |
50.54 |
(*) The term encumbrance has the same meaning as assigned to
it in regulation 28(3) of the SAST Regulations, 2011.
|
Category of Shareholders |
No. of Shares |
Percentage of
Holdings |
|
Mitesh N Mehta |
1268000 |
2.18 |
|
Hassanmiya Suleman Darvesh |
750000 |
1.29 |
|
Total |
2018000 |
3.47 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Newsprint, Writing and Printing Papers. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
·
Bank of ·
Oriental Bank of Commerce ·
Central Bank of ·
Axis Bank Limited ·
ICICI Bank Limited |
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Facilities : |
Note : LONG TERM
BORROWING : The Term Loans and Working Capital Term Loan are secured by first
charge ranking pari passu on all immovable properties of the company, both present and future and
hypothecation of all Company’s movable machinery, spares, tools and accessories,
present and future, subject to prior charges created on Company’s stock of
raw materials, stock in process, finished goods, comsumable stores etc. in favour of the Company’s
Bankers for securing borrowings for working capital requirements, and
Corporate guarantee by The West Coast Paper Mills Limited.
SHORT TERM
BORROWING : Cash Credit (repayable on demand) is secured by hypothecation of the
Company’s stock of finished goods, stock in process, raw materials, stores
and spares, book debts etc. and by a second charge created on all immovable
properties of the company, present and
future. |
|
Banking
Relations : |
-- |
|
Auditors : |
|
|
Name : |
Haribhakti and Company Chartered Accountants |
|
|
|
|
Advocates and
Solicitors : |
|
|
Name : |
Khaitan and Company |
|
Address : |
Mumbai, |
|
|
|
|
Other Related
Party : |
The West Coast Paper Mills Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.581.580 Millions
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 |
581.580 |
581.580 |
581.580 |
|
(b) Reserves & Surplus |
(208.099) |
(53.007) |
513.891 |
|
(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) |
373.481 |
528.573 |
1095.471 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1574.679 |
1766.659 |
1715.936 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term liabilities |
12.473 |
12.487 |
13.937 |
|
(d) long-term provisions |
28.864 |
30.004 |
23.035 |
|
Total Non-current Liabilities (3) |
1616.016 |
1809.150 |
1752.908 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
1144.781 |
1077.670 |
1002.143 |
|
(b) Trade payables |
1427.408 |
1178.861 |
1083.562 |
|
(c) Other current
liabilities |
689.798 |
510.658 |
302.878 |
|
(d) Short-term provisions |
9.093 |
8.266 |
10.901 |
|
Total Current Liabilities (4) |
3271.080 |
2775.455 |
2399.484 |
|
|
|
|
|
|
TOTAL |
5260.577 |
5113.178 |
5247.863 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
2186.134 |
2382.951 |
2727.646 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
52.183 |
42.105 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.163 |
0.163 |
0.163 |
|
(c) Deferred tax assets (net) |
0.000 |
1340.917 |
1110.348 |
|
(d) Long-term Loan and Advances |
1320.711 |
47.066 |
54.537 |
|
(e) Other Non-current assets |
20.408 |
0.000 |
51.521 |
|
Total Non-Current Assets |
3527.416 |
3823.280 |
3986.320 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
728.384 |
550.964 |
496.119 |
|
(c) Trade receivables |
516.778 |
420.329 |
453.476 |
|
(d) Cash and cash
equivalents |
22.151 |
14.314 |
12.058 |
|
(e) Short-term loans and
advances |
320.550 |
298.443 |
288.216 |
|
(f) Other current assets |
145.298 |
5.848 |
11.674 |
|
Total Current Assets |
1733.161 |
1289.898 |
1261.543 |
|
|
|
|
|
|
TOTAL |
5260.577 |
51113.178 |
5247.863 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4084.476 |
3828.345 |
3508.862 |
|
|
|
Other Income |
0.823 |
9.112 |
38.780 |
|
|
|
TOTAL (A) |
4085.299 |
3837.457 |
3547.642 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
2712.288 |
2392.284 |
2267.051 |
|
|
|
Power and Fuel |
855.832 |
0.000 |
0.000 |
|
|
|
Changes in Inventories of Finished Goods and Work-in-Progress |
(331.568) |
27.258 |
(74.254) |
|
|
|
Employees Benefits Expenses |
36.969 |
163.330 |
142.801 |
|
|
|
Exchange Fluctuation (Net) |
162.857 |
6.003 |
46.680 |
|
|
|
Other Expenses |
473.841 |
1212.238 |
1120.436 |
|
|
|
Extraordinary Items |
(524.556) |
0.000 |
(1176.548) |
|
|
|
TOTAL (B) |
3385.663 |
3801.113 |
2326.166 |
|
|
|
|
|
2326.166 |
|
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
699.636 |
36.344 |
1221.476 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
486.819 |
486.545 |
524.602 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
212.817 |
(450.201) |
696.874 |
|
|
|
|
|
|
|
|
|
Less/ |
DEPRECIATION/AMORTISATION (F) |
347.703 |
347.266 |
346.556 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
(134.886) |
(797.467) |
350.318 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
20.206 |
(230.569) |
(270.962) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
(155.092) |
(566.898) |
621.280 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
On F.O.B. Basis |
NA |
27.578 |
60.461 |
|
|
TOTAL EARNINGS |
NA |
27.578 |
60.461 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials and Chemicals |
NA |
660.731 |
564.662 |
|
|
|
Spares and Others |
NA |
30.256 |
52.464 |
|
|
TOTAL IMPORTS |
NA |
690.987 |
617.126 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
– Basic and Diluted before Extraordinary item |
(2.67) |
(9.75) |
(9.55) |
|
|
|
– Basic and Diluted after Extraordinary items |
(2.67) |
(9.75) |
10.68 |
|
NOTES:
1.
The company’s products are mainly classified
under one business segment namely Newsprint and Writing and Printing Paper.
2.
Auditor's observation on the audited
financial results for the year ended March 31, 2014.
"The company has recognised Deferred Tax Assets (DTA) amounting to Rs.
1320.711 Millions in the absence of virtual certainty and convincing evidences
about the future taxable income against which such DTA can be realized. This
constitutes a departure from para 17 of Accounting Standard (AS) 22 'Accounting
for Taxes on Income'. Had the management not recognised such DTA, losses for
the year would have been higher by Rs. 55.665 Millions and Reserve and Surplus
and DTA would have been reduced by Rs. 1320.711 Millions."
3.
The company having already received
substantial portion of the sale proceeds, has accounted for sale of 170 acres
of its Unused Land as per the Agreement to sell executed by the company. This
requisite formalities/ approval for transfer of land are in progress.
4.
The figures for the last quarter is the
balancing figure between previously submitted 3 quarters result and the audited
for the year ended figures.
5.
The figures of corresponding periods
have been regrouped / reclassified, wherever necessary, to make them
comparable.
6.
The above Results were reviewed by the
Audit Committee and thereafter were approved and taken on record by the Board
of Directors at its Meeting held on May 13, 2014.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(3.80) |
(14.77)
|
17.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(3.30) |
(20.83)
|
9.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.56) |
(21.71)
|
8.78 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.36) |
(1.51)
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
7.28 |
5.38
|
2.48 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.53 |
0.46
|
0.53 |
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 |
581.580 |
581.580 |
581.580 |
|
Reserves & Surplus |
513.891 |
(53.007) |
(208.099) |
|
Net
worth |
1095.471 |
528.573 |
373.481 |
|
|
|
|
|
|
long-term borrowings |
1715.936 |
1766.659 |
1574.679 |
|
Short term borrowings |
1002.143 |
1077.670 |
1144.781 |
|
Total
borrowings |
2718.079 |
2844.329 |
2719.460 |
|
Debt/Equity
ratio |
2.481 |
5.381 |
7.281 |
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 |
3,508.862 |
3,828.345 |
4,084.476 |
|
|
|
9.105 |
6.690 |
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
|
3,508.862 |
3,828.345 |
4,084.476 |
|
Profit |
621.280 |
(566.898) |
(155.092) |
|
|
17.71% |
(14.81%) |
(3.80%) |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
Rs.
In Millions
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current maturities of long term debt |
|
|
|
|
- Term Loan from ARCIL |
|
0.000 |
14.284 |
|
- Interest Free Sales Tax Loan-Govt. of Gujarat |
|
40.695 |
40.695 |
|
- Term Loan from ICICI Bank Facility - A |
|
67.039 |
0.000 |
|
- Term Loan from ICICI Bank Facility - C |
|
131.250 |
0.000 |
|
|
|
|
|
|
Total |
NA |
238.984 |
54.979 |
|
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 |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
---------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
---------- |
|
26] |
Buyer visit details |
---------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS:
|
Particulars |
31.03.2013 (Rs. In Millions) |
|
Long Term Borrowings |
|
|
Interest free
Sales Tax Loan from Government of Gujarat |
81.390 |
|
Short Term Borrowings |
|
|
Loans and Advances |
|
|
-From Related Parties |
336.500 |
|
-From Others |
0.000 |
|
|
|
|
Total |
417.890 |
INDEX OF CHARGE:
|
Sr .No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10379455 |
28/12/2012
* |
500,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCECIRCLE, ALKAPURI, VADODARA – 390 015, GUJARAT, INDIA |
B65063059 |
|
2 |
10403370 |
20/01/2012 |
500,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, VADODARA – 390 015, GUJARAT, INDIA |
B64390065 |
|
3 |
10289902 |
20/01/2012
* |
700,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, BARODA – 390 015, GUJARAT, INDIA |
B34366690 |
|
4 |
10289933 |
20/01/2012
* |
900,000,000.00 |
ICICI
BANK LIMITED |
LANDMARKRACE
COURCE CIRCLE, ALKAPURI, VADODARA – 390 015, GUJARAT, INDIA |
B34202473 |
|
5 |
10191247 |
08/12/2009 |
450,000,000.00 |
Bank
of India and 3 Others |
MUMBAI
LARGE CORPORATE BRANCH , 70/80 M G ROAD, |
A75652826 |
|
6 |
90103397 |
11/09/2009
* |
1,550,000,000.00 |
Bank
of India and 3 Others |
MUMBAI
LARGE CORPORATE BRANCH , 70/80 M G ROAD, |
A70435292 |
|
7 |
80001952 |
05/04/2006
* |
30,000,000.00 |
CENTRAL
BANK OF INDIA |
CORPORATE
FINANCE BRANCH, M G ROAD FORT, MUMBAI – 400 023, |
- |
|
8 |
90103553 |
05/06/2007
* |
50,000,000.00 |
CENTRAL
BANK OF INDIA |
CENTRAL
BANK BUILDING, CORPORATE FINANCE BRANCH, |
A16502171 |
|
9 |
90103256 |
09/03/2005
* |
331,997,000.00 |
BANK
OF INDIA |
MUMBAI
CORPORATE BANKING BRANCH, M.G. ROAD, MUMBAI – 400 023, MAHARASHTRA, INDIA |
- |
|
10 |
90103491 |
26/03/2009
* |
17,500,000.00 |
ASSET
RECONSTRUCTION COMPANY (INDIA) LIMITED |
SHREEPATI
ARCADE, AUGUST KRANTI MARG, NANA CHOWK, MUMBAI – 400 036, MAHARASHTRA, INDIA |
A62324744 |
* Date of charge modification.
FIXED ASSETS:
·
Free hold Land
·
Buildings
·
Plant and Machinery
·
Furniture and Fittings
·
Office Equipment
·
Vehicles
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.60.33 |
|
|
1 |
Rs.103.18 |
|
Euro |
1 |
Rs.81.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done By
: |
KRN |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
16 |
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.