MIRA
INFORM REPORT
|
Report Date : |
25.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
GINNI FILAMENTS LIMITED |
|
|
|
|
Registered
Office : |
110 K.M. Stone, |
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Country : |
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|
|
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Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
28.07.1982 |
|
|
|
|
Com. Reg. No.: |
20-012550 |
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|
|
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Capital
Investment / Paid-up Capital : |
Rs.781.501
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L71200UP1982PLC012550 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELG08946A |
|
|
|
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PAN No.: [Permanent Account No.] |
AABCG0942K |
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|
Legal Form : |
Public Limited Liability Company. The Company’s Shares are Listed on the Stock Exchanges. |
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Line of Business
: |
Manufacturer and Exporters of cotton yarn, knitted fabric, non-woven
fabric, garments and wipes. |
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|
|
|
No. of Employees
: |
5000 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 5400000 |
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|
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|
Status : |
Moderate |
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|
|
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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. The rating is constrained on account of low reserves level and huge
borrowings recorded by the company. However, trade relations are reported as fair. Business is active.
Payment terms 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.
HENKEL RATING
|
HENKEL’s Rating : |
400 (High risk) 450 (Very high risk) |
|
Credit
Rating |
Henkel
Rating |
|
|
Mira
Inform |
Risk
Category |
Description |
|
Aaa |
100 |
Very
low risk (blue ships) |
|
Aa |
200,
201 |
Low
risk |
|
A |
300,
301 |
Moderate
risk |
|
Ba |
350 |
Significant
risk |
|
B |
400 |
High
risk |
|
450 |
Very
high risk |
|
|
Ca
or C |
500* |
Doubtful
accounts |
|
|
007* |
Small
unrated customers |
|
|
009* |
Inactive
customers |
|
|
999* |
New customer |
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 |
CRISIL |
|
Rating |
Long Term Rating =BB |
|
Rating Explanation |
Moderated risk of default |
|
Date |
22.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating =A4+ |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
22.03.2014 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Ramesh Bist |
|
Designation : |
Finance Department |
|
Contact No.: |
91-120-4058400 |
|
Date : |
22.07.2014 |
LOCATIONS
|
Registered Office/ Factory 1 : |
110 K.M. Stone, Delhi-Mathura Road, Chhata, District Mathura – 281
401, Uttar Pradesh, India |
|
Tel. No.: |
91-5662-242490/ 242491/ 242341/ 246648/ 232438 |
|
Fax No.: |
91-5662-242223/ 242248 |
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E-Mail : |
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Website : |
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Corporate Office/ Factory 2 : |
H-6, Sector - 63, NH-24, Noida – 201 307, Uttar Pradesh, India |
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Tel. No.: |
91-120-4058400 |
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Fax No.: |
91-120-4250975-76 |
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|
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Factory 3 : |
Plot No.205-207, GIDC Industrial Area, Panoli, District Bharuch,
Ankleshwar – 394 116, |
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|
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Factory 4 : |
D-38, Industrial Area, Bahadrabad, Haridwar – 249 403, Uttarakhand, India |
DIRECTORS
AS ON 31.03.2013
|
Name : |
Dr. Rajaram Jaipuria |
|
Designation : |
Chairman and Managing Director |
|
Qualification : |
Degree in Economic |
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|
|
|
Name : |
Mr. Shishir Jaipuria |
|
Designation : |
Vice-Chairman and Managing Director |
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Qualification : |
M.Com and LLB |
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|
|
|
Name : |
Mr. Saket Jaipuria |
|
Designation : |
Executive Director |
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Qualification : |
Business Administration |
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|
|
|
Name : |
Mr. S. Singhvi |
|
Designation : |
Director – Finance |
|
Qualification : |
Charted Accountant |
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|
|
|
Name : |
Mr. R.R Maheshwari |
|
Designation : |
Director (Marketing and Business Development) |
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Qualification : |
M.B.A |
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E-Mail : |
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|
|
|
Name : |
Mr. J.P. Kundra |
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Designation : |
Director |
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|
|
|
Name : |
Mr. O.P. Vaish |
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Designation : |
Director |
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Qualification : |
Sr. Advocate |
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|
Name : |
Mr. J.K. Bhagat |
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Designation : |
Director |
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|
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|
Name : |
Mr. Nripendra Misra |
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Designation : |
Director |
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Qualification : |
Master of Economics |
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|
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|
Name : |
Dr. H.P Bhattacharya |
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Designation : |
Director |
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Qualification : |
Ph.d in Textile Technology |
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|
|
|
Name : |
Mr. N.K. Duggal |
|
Designation : |
Nominee-IFCI (upto 18th September, 2012) |
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|
|
Name : |
Shri Jagdish Garwal |
|
Designation : |
Nominee-IFCI (w.e.f 12th February, 2013) |
KEY EXECUTIVES
|
Name : |
Mr. Rajesh K. Tripathi |
|
Designation : |
Company Secretary |
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|
|
|
Name : |
Mr. Shailendra Jain |
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Designation : |
AGM – Marketing (Fabrics) |
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E-mail : |
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|
Name : |
Mr. Rajesh Jalali |
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Designation : |
G.M Operations (Garments) |
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E-mail : |
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|
|
|
Name : |
Mr. Ramesh Bist |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.06.2014
|
Category of Shareholder |
No. of Shares |
Percentage of
Holding |
|
(A) Shareholding of Promoter and Promoter Group |
|
|
|
|
|
|
|
|
43468726 |
61.53 |
|
|
8715 |
0.01 |
|
|
43477441 |
61.54 |
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|
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|
Total shareholding of Promoter and Promoter Group (A) |
43477441 |
61.54 |
|
(B) Public Shareholding |
|
|
|
|
|
|
|
|
11000 |
0.02 |
|
|
3201099 |
4.53 |
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|
8510 |
0.01 |
|
|
10 |
0.00 |
|
|
10 |
0.00 |
|
|
3220619 |
4.56 |
|
|
|
|
|
|
2102642 |
2.98 |
|
|
|
|
|
|
10204809 |
14.44 |
|
|
10636500 |
15.06 |
|
|
1008054 |
1.43 |
|
|
1500 |
0.00 |
|
|
55065 |
0.08 |
|
|
168486 |
0.24 |
|
|
52134 |
0.07 |
|
|
730869 |
1.03 |
|
|
23952005 |
33.90 |
|
Total Public shareholding (B) |
27172624 |
38.46 |
|
Total (A)+(B) |
70650065 |
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) |
70650065 |
0.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporters of cotton yarn, knitted fabric, non-woven
fabric, garments and wipes. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
·
Japan ·
USA ·
Korea ·
UK ·
Pakistan ·
China ·
Bangladesh ·
Europe ·
Israel ·
Nepal |
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Terms : |
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Selling : |
Cash / L/C / Credit |
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Purchasing : |
Cash / L/C / Credit |
PRODUCTION STATUS (AS ON 31.03.2011):
|
Particulars |
Unit |
Installed
Capacity |
|
Spindles |
Nos. |
89808 |
|
Rotors |
Nos. |
1680 |
|
Knitting Machines |
Nos. |
34 |
|
Processed Fabrics |
Kg./ Batch |
3600 |
|
Non Woven Fabric |
MT/ annum |
12000 |
|
Stitching Machines |
Nos. |
405 |
|
Wipes and Others |
Pcs. Lacs/ annum
|
1283.87 |
|
Particulars |
Unit |
Actual
Production |
|
Yarn |
Kg. in Lacs |
254.72 |
|
Fabrics – Grey |
Kg. in Lacs |
32.52 |
|
Processed Fabrics |
Kg. in Lacs |
27.66 |
|
Garments |
Pcs. In Lacs |
38.55 |
|
Non Woven Fabric |
Kg. in Lacs |
95.63 |
|
Wipes and Others |
Pcs. In Lacs |
977.55 |
GENERAL INFORMATION
|
No. of Employees : |
5000 (Approximately) |
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Bankers : |
· State Bank of India, IFB, Delhi, India · Bank of Baroda · The Federal Bank Limited · State Bank of Bikaner and Jaipur · UCO Bank |
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Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. L. Gupta and Company Chartered Accountants |
|
Address : |
Noida, Uttar Pradesh, India |
|
|
|
|
Enterprises over
which Key Management personnel are able to exercise significant influence : (As on
31.03.2013) |
·
Shree Bhawani Anand Private Limited ·
Ginni Edu Services Private Limited ·
Kanpur Builders Private Limited ·
Raghukul Trading Private Limited ·
Lochan Agro Private Limited ·
Ginni Nonwoven Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.781.501 Millions
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
84285000 |
Equity Shares |
Rs.10/- each |
Rs.842.850 millions |
|
1000000 |
Redeemable Preference Shares |
Rs.100/- each |
Rs.100.000 millions |
|
|
Total
|
|
Rs.942.850
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
70650065 |
Equity Shares |
Rs.10/- each |
Rs.706.501
millions |
|
750000 |
8% Redeemable Cumulative Preference Shares |
Rs.100/- each |
Rs.75.000
millions |
|
|
Total |
|
Rs.781.501 millions |
Reconciliation of No. of shares Outstanding:
|
Particulars |
As at 31st March, 2013 |
|
|
No. of Shares |
Amount (Rs. in
millions) |
|
|
Equity
shares |
|
|
|
Opening Outstanding Shares |
70650065 |
706.501 |
|
Closing Outstanding Shares |
70650065 |
706.501 |
|
Preference Shares |
|
|
|
Opening Outstanding Shares |
750000 |
75.000 |
|
Closing Outstanding Shares |
750000 |
75.000 |
Shareholders holding more than 5% of total shares
|
Name of Shareholder |
As at 31st March, 2013 |
|
|
No. of Share held |
% of holding |
|
|
Equity Shares |
|
|
|
1. Suniti Devi Jaipuria |
21419294 |
30.32 |
|
2. Sunita Jaipuria |
5675716 |
8.03 |
|
3. Saket Jaipuria |
6136008 |
8.69 |
|
4. Yash Jaipuria |
5720847 |
8.10 |
|
5. Vinod H. Punwani |
4112600 |
5.82 |
|
Preference Shares |
|
|
|
1. Raghukul Trading Private Limited |
750000 |
100.00 |
Aggregate no. of share issued for consideration other than cash during the
period of 5 years immediately preceding the reporting date
|
Particulars |
As at 31.03.2013 |
|
Allotted during
FY 2009-10 as fully paid shares pursuant to amalgamation without payment
being received in cash |
11387440 |
The Company has only
one class of equity shares having at par value of Rs.10/- per share. Each
holder of equity share is entitled to one vote per share.
In the liquidation
of the company, the holder of equity share will be entitled to receive
remaining assets of the company, after distribution of all preferential amount.
The distribution will be in proportion to the number of equity shares held by
the shareholders.
8% cumulative
redeemable preference shares are redeemable at par on or before 31st
December 2018. Accumulated dividend on preference shares upto 31st
March, 2013 is Rs.20.500 millions.
FINANCIAL DATA
[all figures are
in Rupees Millions]
FINANCIAL DETAILS ATTACHED
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 |
781.501 |
781.501 |
781.501 |
|
Reserves & Surplus |
47.695 |
223.045 |
585.757 |
|
Net
worth |
829.196 |
1004.546 |
1367.258 |
|
|
|
|
|
|
long-term borrowings |
2271.446 |
1927.817 |
1623.318 |
|
Short term borrowings |
1390.345 |
1598.534 |
1502.487 |
|
Total
borrowings |
3661.791 |
3526.351 |
3125.805 |
|
Debt/Equity
ratio |
4.416 |
3.510 |
2.286 |
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 |
7121.493 |
7447.216 |
8680.195 |
|
|
|
4.574 |
16.556 |
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 |
7121.493 |
7447.216 |
8680.195 |
|
Profit |
(436.669) |
175.350 |
362.712 |
|
|
(6.13%) |
2.35% |
4.18% |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
10418699 |
20/03/2013 |
65,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 14TH FLOOR, JAWAHAR V |
B72883887 |
|
2 |
10418702 |
20/03/2013 |
1,025,700,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 14TH FLOOR, JAWAHAR V |
B72884174 |
|
3 |
10413171 |
28/02/2013 |
3,349,000.00 |
KOTAK MAHINDRA
PRIME LIMITED |
36-38A NARIMAN
BHAVAN, 227, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
B71252092 |
|
4 |
10153833 |
09/11/2009 * |
290,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 14TH FLOOR, JAWAHAR V |
A74148370 |
|
5 |
10136761 |
09/11/2009 * |
40,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 14TH FLOOR, JAWAHAR V |
A74148040 |
|
6 |
10106421 |
09/11/2009 * |
28,000,000.00 |
THE FEDERAL BANK
LIMITED |
HARSHA BHAWAN, E-13-29,
GROUND FLOOR, MIDDLE CIRCLE, CONNAUGHT PLACE, NEW DELHI, DELHI - 110001,
INDIA |
A74535121 |
|
7 |
10057363 |
09/11/2009 * |
225,500,000.00 |
EXPORT IMPORT
BANK OF INDA |
CENTRE ONE
BUILDING, 21ST FLOOR, WORLD TRADE CEN |
A76040187 |
|
8 |
10045844 |
09/11/2009 * |
120,000,000.00 |
IDBI BANK
LIMITED |
IDBI TOWER,
CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A75804070 |
|
9 |
10038370 |
09/11/2009 * |
356,200,000.00 |
AXIS BANK
LIMITED |
STATESMAN HOUSE,
BARAKHAMBA ROAD, NEW DELHI, DELHI - 110001, INDIA |
A73972507 |
|
10 |
80007877 |
09/11/2009 * |
212,400,000.00 |
EXPORT IMPORT
BANK OF INDA |
CENTRE ONE
BUILDING, 21ST FLOOR, WORLD TRADE CEN |
A76040104 |
|
11 |
90276272 |
09/11/2009 * |
340,000,000.00 |
BANK OF BARODA |
BANK OF BARODA
BUILDING, GROUND FLOOR, 16 SANSAD |
A73966814 |
|
12 |
90276265 |
09/11/2009 * |
550,000,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 14TH FLOOR, JAWAHAR V |
A74147802 |
|
13 |
90276257 |
09/11/2009 * |
340,000,000.00 |
STATE BANK OF BIKANER
AND JAIPUR |
71-72, LAXMI
BHAWAN, NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
A75086892 |
|
14 |
90276036 |
09/11/2009 * |
50,000,000.00 |
EXPORT IMPORT
BANK OF INDA |
CENTRE ONE
BUILDING, 21ST FLOOR, WORLD TRADE CEN |
A76040245 |
|
15 |
90275918 |
09/11/2009 * |
227,000,000.00 |
JAMMU AND
KASHMIR BANK LIMITED |
26/34, PAL MOHAN
MANSION, EAST PATEL NAGAR, RAJENDRA PLACE, NEW DELHI, DELHI - 110008, INDIA |
A74664764 |
|
16 |
90275836 |
09/11/2009 * |
105,000,000.00 |
UCO BANK |
MID CORPORATE
BRANCH, 6 PARLIAMENT STREET, NEW DELHI, DELHI - 110001, INDIA |
A73964314 |
|
17 |
90281321 |
09/11/2009 * |
4,916,962.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG.,
GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
A73944738 |
|
18 |
90275620 |
20/11/2003 * |
32,088,062.00 |
IFCI LIMITED |
IFCI TOWER, 61;
NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
- |
|
19 |
80036071 |
09/11/2009 * |
60,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG.,
GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
A73943953 |
|
20 |
90275386 |
09/11/2009 * |
60,000,000.00 |
IFCI LIMITED |
IFCI TOWER61
NEHRU PLACE, NEW DELHI, DELHI - 110019, INDIA |
A73947863 |
|
21 |
80030492 |
09/11/2009 * |
67,500,000.00 |
EXPORT IMPORT
BANK OF INDA |
CENTRE ONE
BUILDING, 21ST FLOOR, WORLD TRADE CEN |
A76040484 |
|
22 |
90281252 |
09/11/2009 * |
50,000,000.00 |
IDBI TRUSTEESHIP
SERVICES LIMITED |
ASIAN BLDG.,
GROUND FLOOR, 17, R.KAMANI MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA -
400001, INDIA |
A73943417 |
|
23 |
90274801 |
09/11/2009 * |
90,000,000.00 |
EXPORT IMPORT
BANK OF INDA |
CENTRE ONE
BUILDING, 21ST FLOOR, WORLD TRADE CEN |
A76040500 |
|
24 |
90274733 |
09/11/2009 * |
242,500,000.00 |
IFCI LIMITED |
IFCI TOWER61 NEHRU
PLACE, NEW DELHI, DELHI - 110019, INDIA |
A73949455 |
|
25 |
90278622 |
29/10/2013 * |
2,480,400,000.00 |
STATE BANK OF
INDIA |
INDUSTRIAL
FINANCE BRANCH, 14 TH FLOOR, JAWAHAR |
B92143908 |
* Date of charge
modification
|
Unsecured Loans |
31.03.2014 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans and Advances from Related Parties (Interest Free Loan
Rs.70.000 millions (previous year Rs.70.000 millions) Repayable after 30th
June, 2018 and Rs.25.000 millions repayable after 31st December,
2019 and Interest Bearing Loan Rs.130.000 millions (Previous Year Rs.130.000
millions) repayable on or after 1st April, 2014) |
NA |
225.000 |
|
SHORT TERM BORROWINGS |
|
|
|
Interest bearing loans from Related Parties repayable on demand (Interest due during the year has been paid on time) |
NA |
33.500 |
|
Total
|
NA |
258.500 |
CONTINGENT LIABILITIES:
|
Particulars |
|
31.03.2013 (Rs.
in Millions) |
|
1. Contingent liabilities not provided for: |
|
|
|
i) Bills discounted with banks |
|
578.943 |
|
ii) Disputed demands under excise, income tax, sales tax and electricity
etc. |
|
18.226 |
|
iii) Claims against the company not acknowledged as debt |
|
10.034 |
|
2. Estimated amount of contracts remaining to be executed on capital
account and not provided for (net of advances) |
|
130.348 |
FIXED ASSETS:
Tangible Assets
·
Land (Lease Hold)
·
Land (Free Hold)
·
Lease Hold Improvements
·
Buildings
·
Plant and Machinery
·
Electrical Installation
·
Office Equipments
·
Computers
·
Furniture and Fittings
·
Vehicles
Intangible Assets
·
Software
·
Licences
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.61.13 |
|
|
1 |
Rs.101.17 |
|
Euro |
1 |
Rs.84.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
35 |
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.