MIRA
INFORM REPORT
|
Report Date : |
22.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
K G DENIM LIMITED
|
|
|
|
|
Registered
Office : |
Then Thirumalai, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
25.06.1992 |
|
|
|
|
Com. Reg. No.: |
18-003798 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 256.700 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L17115TZ1992PLC003798 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CMBK03032B |
|
|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
|
|
|
|
Line of Business
: |
Manufacturing
and Marketing of denim fabrics of different size, shades, weaves, blends and
weights. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2500000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by cyclical
nature of the denim industry and sharp dip in profitability of the company
during financial year 2014. However, trade relations are fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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: “BB-” |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
11.07.2014 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
11.07.2014 |
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 DECLINED
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-4254-304401)
LOCATIONS
|
Registered
Office : |
Then Thirumalai,
Coimbatore - 641302, Tamilnadu, India |
|
Tel. No.: |
91-4254-304401/
235300/ 304300 |
|
Fax No.: |
91-4254-304400 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Jadayam
Palayam, Via Sirumugai, Taluka Mettupalayam, Coimbatore – 641302, Tamilnadu,
India |
|
Tel. No.: |
91-42545-2331/
34 |
|
Fax No.: |
91-42545-2335 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2013
|
Name : |
Mr. B Sriramulu |
|
Designation : |
Managing Directors |
|
Qualification
: |
BE ( |
|
Experience : |
16 Years |
|
Date of
Appointment : |
03.11.2003 |
|
|
|
|
Name : |
Mr. B Srihari |
|
Designation : |
Managing
Directors |
|
Qualification
: |
BE (Chem. Tech),
MS (Chem. Tech) |
|
Experience : |
14 Years |
|
Date of Appointment
: |
03.11.2003 |
|
|
|
|
Name : |
Mr. KG Baalakrishnan |
|
Designation : |
Executive Chairman |
|
|
|
|
Name : |
Mr. G V S Desikan |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr.
G. P. Muniappan |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. K N V Ramani |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. V Jagadisan |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mrs. T Anandhi |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. M. J.
Vijayaraaghavan |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. Surinder
Chhibber |
|
Designation : |
Director |
|
|
|
|
Name : |
Mr. A Velusamy |
|
Designation : |
Directors |
|
|
|
|
Name : |
Mr. S Muthuswamy |
|
Designation : |
Director |
KEY EXECUTIVES
|
Name : |
Mr. S. Muthuswamy |
|
Designation : |
Company Secretary
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.03.2014
|
Category of Shareholder |
No.
of Shares |
% of
No. of Shares |
|
(A) Shareholding of Promoter
and Promoter Group |
|
|
|
|
|
|
|
|
9868158 |
38.47 |
|
|
4787145 |
18.66 |
|
|
14655303 |
57.13 |
|
|
|
|
|
Total shareholding of Promoter
and Promoter Group (A) |
14655303 |
57.13 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
5200 |
0.02 |
|
|
500 |
0.00 |
|
|
2300 |
0.01 |
|
|
8000 |
0.03 |
|
|
|
|
|
|
547703 |
2.13 |
|
|
|
|
|
|
6174075 |
24.07 |
|
|
3334685 |
13.00 |
|
|
934139 |
3.64 |
|
|
13597 |
0.05 |
|
|
393784 |
1.53 |
|
|
526558 |
2.05 |
|
|
200 |
0.00 |
|
|
10990602 |
42.84 |
|
Total Public shareholding (B) |
10998602 |
42.87 |
|
Total (A)+(B) |
25653905 |
100.00 |
|
(C) Shares held by Custodians
and against which Depository Receipts have been issued |
|
|
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
|
0 |
0.00 |
|
Total (A)+(B)+(C) |
25653905 |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing
and Marketing of denim fabrics of different size, shades, weaves, blends and
weights. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Indian Bank ·
Bank of India ·
Allahabad Bank ·
State Bank of India ·
State Bank of Hyderabad ·
Indian Overseas Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Gopalaiyer and Subramanian Chartered Accountants |
|
Address : |
|
|
|
|
|
Subsidiaries : |
· Trigger Apparels Limited KG Denim (USA) Inc. |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.
256.700 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 |
256.700 |
256.651 |
256.651 |
|
(b) Reserves & Surplus |
419.700 |
376.204 |
243.286 |
|
(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) |
676.400 |
632.855 |
499.937 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
389.100 |
421.645 |
443.673 |
|
(b) Deferred tax liabilities (Net) |
127.300 |
130.200 |
129.865 |
|
(c) Other long term liabilities |
24.000 |
25.496 |
61.190 |
|
(d) long-term provisions |
22.300 |
22.622 |
18.861 |
|
Total Non-current Liabilities (3) |
562.700 |
599.963 |
653.589 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
656.200 |
563.823 |
457.689 |
|
(b)
Trade payables |
1231.400 |
1066.455 |
825.475 |
|
(c)
Other current liabilities |
276.300 |
241.164 |
175.969 |
|
(d) Short-term
provisions |
24.000 |
23.880 |
49.529 |
|
Total Current Liabilities (4) |
2187.900 |
1895.322 |
1508.662 |
|
|
|
|
|
|
TOTAL |
3427.000 |
3128.140 |
2662.188 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1204.300 |
1119.864 |
934.537 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
71.500 |
47.941 |
66.381 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
53.700 |
55.327 |
57.331 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
115.200 |
36.117 |
39.625 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
1444.700 |
1259.249 |
1097.874 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
1123.900 |
1103.753 |
1018.244 |
|
(c)
Trade receivables |
424.400 |
378.581 |
237.494 |
|
(d) Cash
and cash equivalents |
89.500 |
83.707 |
66.526 |
|
(e)
Short-term loans and advances |
179.200 |
186.322 |
151.258 |
|
(f)
Other current assets |
165.300 |
116.528 |
90.792 |
|
Total Current Assets |
1982.300 |
1868.891 |
1564.314 |
|
|
|
|
|
|
TOTAL |
3427.000 |
3128.140 |
2662.188 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2014 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
5918.600 |
|
|
|
Other Income |
|
|
7.600 |
|
|
|
TOTAL |
|
|
5926.200 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
|
3684.100 |
|
|
|
Purchase of Stock In Trade |
|
|
0.400 |
|
|
|
Power and Fuel |
|
|
444.300 |
|
|
|
Stores and Chemicals |
|
|
836.100 |
|
|
|
Employees Benefit Expense |
|
|
269.800 |
|
|
|
Other Expenses |
|
|
278.600 |
|
|
|
Changes in inventories of Finished goods, work in progress
and stock in trade |
|
|
(78.800) |
|
|
|
TOTAL |
|
|
5434.500 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
|
|
491.700 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
257.300 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
234.400 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
133.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX |
|
|
100.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
35.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX |
|
|
65.900 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
|
2.57 |
|
|
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5148.277 |
4000.744 |
|
|
|
Other Income |
|
36.315 |
31.689 |
|
|
|
TOTAL (A) |
|
5184.592 |
4032.433 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
|
2970.877 |
2423.794 |
|
|
|
Purchase of Stock In Trade |
|
0.006 |
0.537 |
|
|
|
Other Manufacturing Expenses |
|
1188.768 |
830.130 |
|
|
|
Employee benefits expenses |
|
233.107 |
189.117 |
|
|
|
Other Expenses |
|
245.733 |
216.424 |
|
|
|
Changes in inventories of Finished goods, work in progress and stock
in trade |
|
(65.371) |
(101.119) |
|
|
|
TOTAL (B) |
|
4573.120 |
3558.883 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
611.472 |
473.550 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
257.630 |
232.271 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
353.842 |
241.279 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
119.170 |
130.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
|
234.672 |
110.444 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
79.393 |
36.737 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
|
155.279 |
73.707 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
1833.142 |
1476.942 |
|
|
TOTAL EARNINGS |
|
1833.142 |
1476.942 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
143.326 |
112.421 |
|
|
|
Chemicals |
|
105.490 |
66.082 |
|
|
|
Stores & Spares |
|
70.051 |
29.789 |
|
|
|
Capital Goods |
|
105.161 |
43.404 |
|
|
TOTAL IMPORTS |
|
424.028 |
251.696 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
|
6.05 |
2.87 |
|
NOTE
1. The above Audited results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on 24th May, 2014
2. The figures of the last quarter are the balancing figures between audited figures in respect of the full financial year and the published year to date figures upto the third quarter of the current financial year.
3. The Company has only one business segment (i.e.) Textiles Business. Hence, segment wise reporting is not applicable.
4. Figures of the previous year / quarter ended have been regrouped / re arranged wherever necessary.
5. The Boar has recommended Equity Dividend of 7.50% (i.e. Rs. 0.75 per share) on its Equity Shares for the financial year 2013-14.
6. There are no share of profits / loss of associates and minority interest in respect of consolidated results.
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
1.11 |
3.00 |
1.83 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.70 |
4.56 |
2.76 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.06 |
7.76 |
4.35 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15 |
0.37 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.55 |
1.56 |
1.80 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.91 |
0.99 |
1.04 |
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 |
256.651 |
256.651 |
256.700 |
|
Reserves & Surplus |
243.286 |
376.204 |
419.700 |
|
Net
worth |
499.937 |
632.855 |
676.400 |
|
|
|
|
|
|
long-term borrowings |
443.673 |
421.645 |
389.100 |
|
Short term borrowings |
457.689 |
563.823 |
656.200 |
|
Total
borrowings |
901.362 |
985.468 |
1045.300 |
|
Debt/Equity
ratio |
1.803 |
1.557 |
1.545 |
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 |
4000.744 |
5148.277 |
5918.600 |
|
|
|
28.683 |
14.963 |
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 |
4000.744 |
5148.277 |
5918.600 |
|
Profit |
73.707 |
155.279 |
65.900 |
|
|
1.84% |
3.02% |
1.11% |
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) |
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 |
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 |
10465114 |
18/10/2013 |
23,000,000.00 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
HDFC HOUSE, 29, KAMARAJ ROAD, COIMBATORE - 641018, TAMILNADU, INDIA |
B91534743 |
|
2 |
10461438 |
14/11/2013 * |
148,000,000.00 |
BANK OF INDIA |
COIMBATORE MID CORPORATE BRANCH, FIRST FLOOR, CHAMBER TOWERS, 8/732, AVINASHI ROAD, COIMBATORE - 641018, TAMILNADU, INDIA |
B92516863 |
|
3 |
10462477 |
11/10/2013 |
147,000,000.00 |
THE SOUTH INDIAN BANK LIMITED |
COIMBATORE GANDHIPURAM BRANCH, CKN BUILDING, 100 FEET ROAD, GANDHIPURAM, COIMBATORE - 641012, TAMILNADU, INDIA |
B90441502 |
|
4 |
10459739 |
14/11/2013 * |
148,000,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31, VARIETY HALL ROAD, COIMBATORE - 641001, TAMILNADU, INDIA |
B90725813 |
|
5 |
10366139 |
09/05/2013 * |
100,000,000.00 |
BANK OF INDIA |
MID CORPORATE BRANCH, FIRST FLOOR, CHAMBER TOWERS, 8/732, AVINASHI ROAD, COIMBATORE, TAMIL NADU - 641018, INDIA |
B78812088 |
|
6 |
10349045 |
19/04/2013 * |
120,000,000.00 |
INDIAN OVERSEAS BANK |
PARK SQUARE BRANCH, 1027- AVINASHI ROAD, NEAR VOC PARK, UPPILIPALAYAM,, COIMBATORE, TAMIL NADU - 641018, INDIA |
B76975879 |
|
7 |
10320308 |
19/04/2013 * |
100,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1443, TRICHY ROAD, COIMBATORE - 641018, TAMIL NADU, INDIA |
B76817923 |
|
8 |
10065578 |
09/05/2013 * |
56,400,000.00 |
BANK OF INDIA |
COIMBATORE MID CORPORATE BRANCH, FIRST FLOOR, CHAMBER TOWERS, 8/732, AVINASHI ROAD, COIMBATORE - 641018, TAMILNADU, INDIA |
B78812278 |
|
9 |
10049364 |
19/04/2013 * |
56,400,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31, VARIETY HALL ROAD, COIMBATORE - 641001, TAMIL NADU, INDIA |
B76975614 |
|
10 |
80023257 |
22/06/2010 * |
150,000,000.00 |
STATE BANK OF HYDERABAD |
RAJAJINAGAR BRANCH, 200/Y, 12TH MAIN, 50TH CROSS, 3RD BLOCK, RAJAJINAGAR, BANGALORE - 560010, KARNATAKA, INDIA |
A91880773 |
|
11 |
80023259 |
19/04/2013 * |
150,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 1443, TRICHY ROAD, COIMBATORE - 641018, TAMILNADU, INDIA |
B76817469 |
|
12 |
80023253 |
19/04/2013 * |
197,800,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31, VARIETY HALL ROAD, COIMBATORE - 641001, TAMILNADU, INDIA |
B76975432 |
|
13 |
90007210 |
06/01/2014 * |
210,500,000.00 |
ALLAHABAD BANK |
98, MECRICAR ROAD, R S PURAM, COIMBATORE - 641002, TAMILNADU, INDIA |
B93518272 |
|
14 |
90006921 |
22/08/2013 * |
324,900,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH,
1443, TRICHY ROAD, COIMBATORE - 641018, |
B85667590 |
|
15 |
90006688 |
22/08/2013 * |
621,000,000.00 |
BANK OF INDIA |
COIMBATORE MID CORPORATE BRANCH, FIRST FLOOR, CHAMBER TOWERS, 8/732, AVINASHI ROAD, COIMBATORE - 641018, TAMILNADU, INDIA |
B87144903 |
|
16 |
90006683 |
23/09/2013 * |
671,100,000.00 |
INDIAN BANK |
COIMBATORE MAIN BRANCH, 31, VARIETY HALL ROAD, COIMBATORE - 641001, TAMILNADU, INDIA |
B89323141 |
* Date of charge modification
CONTINGENT
LIABILITY
|
PARTICULARS |
31.03.2013 (Rs. In Millions) |
|
Bills discounted with banks |
404.788 |
|
Estimated amount of contracts remaining to be executed in capital
account and not provided for |
95.848 |
|
Disputed Excise Duties |
63.105 |
|
Disputed Income Tax |
15.400 |
|
Guarantees given to Bank for loan to subsidiary |
65.100 |
|
Guarantees given on behalf of Associates for fulfillment of their
Export obligation under EPCG Scheme |
30.000 |
FIXED ASSETS
· Land
Buildings
Machinery
Electric
Machinery
Office
Equipments
Furniture
and Fittings
Motor
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. 60.19 |
|
UK Pound |
1 |
Rs. 102.87 |
|
Euro |
1 |
Rs. 81.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
32 |
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.