MIRA
INFORM REPORT
|
Report Date : |
31.07.2014 |
IDENTIFICATION DETAILS
|
Name : |
D’DÉCOR HOME FABRICS PRIVATE LIMITED (w.e.f. 19.08.2010) |
|
|
|
|
Formerly Known
As : |
DICITEX DÉCOR PRIVATE LIMITED VIRENDER
PROCESSORS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
1071/1072, Solitaire Corporate Park, Building No.10, 167, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400 093, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.03.1999 |
|
|
|
|
Com. Reg. No.: |
11-118945 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.37.500 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17120MH1999PTC118945 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV8445M |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Premium Furnishing Fabrics, Bed Sheets etc. |
|
|
|
|
No. of Employees
: |
1300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having fine track. The ratings continue to reflect the company established market position
in the home furnishing segment, and strong operating efficiencies, supported
by its vertically integrated operations. Directors are reported to be experienced and respectable businessmen. Trade relations are reported to be fair. Business is active. Payments
are reported to be regular and as per commitment. The company can be considered normal for business dealings at usual
trade terms and condition. |
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
NEWS
As per the latest IMF study, the total weigh of emerging markets in the
GDP of the world on a purchasing power parity basis has seen a sizeable shift.
It highlights how as against 51 % in 2005, the emerging economies now account
for close to 56 % of the global purchasing power GDP as per the latest survey.
And with the emerging economies growing at a faster rate than their developed
counterparts, there are every possibility that the share goes up further in the
coming years. China may surpass the US over the next few years.
Politics and economics are very intricately connected. They tend to
influence each other in ways that could be very complex and far-reaching. The
prospects of the India’s economy have been seriously compromised due to
political corruption. High inflation, poor standard of living are to a great
extent a result of rampant corruption in the country. China on the other hand,
seems to be facing diametrically opposite challenge. American hedge fund
manager Jim Chanos has been keenly following the political and economic
development in the dragon economy and has figured out something that is quite worrying.
He is of the view that the Chinese economy could be heading toward trouble on
account of new Chinese President Xi Jingping’s very aggressive anti-corruption
drive. Chanos believes that many things such as apartment sales, luxury
products, etc. were largely bought with dirty money. And it is now beginning to
impact consumption. This may indeed be bad news for an economy that is
struggling to transition from an investment-driven export-oriented economy to a
domestic consumption-driven economy.
A study published by Firstpost has revealed that asset classes like real
estate and equities were the biggest beneficiaries of the liberalization
policies. A firm called Ciane Analytics studied returns from assets
including equities, gold, fixed deposits, G-Secs and real estate since 1991.
Real estate outperformed every other asset classes during the 23-year period
with an annualized return of 20%! Equities came in second with annualized
return of 15.5%! However, while these returns may seem mouthwatering, the fact
is that the return from equities adjusted for inflation came down to just 7.1
%.
Some brief news are as under
. R-Power to buy Jaypee’s hydro assets
. Investors await justice in NSEL case
. India seeks MFN status from Pakistan ahead of meeting
. Ukrain’s clashes with rebels hinder MH17 crash investigation
. India exploring merger of state-owned hydro PSUs
..Higher costs weigh down profit growth to slowest in 9 quarters
..Wal-Mart to expand wholesale business in India
. GMR group moves to strengthen balance sheet
. Central Bank to sell 4 % stake to Life Insurance Corporation
. Tata Chemicals plans to raise up to Rs.10000 mn.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: A |
|
Rating Explanation |
Adequate degree at safety and low credit risk. |
|
Date |
31.08.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: A1 |
|
Rating Explanation |
Very strong degree at safety and lowest credit risk. |
|
Date |
31.08.2013 |
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.
INFORMATION PARTED BY
|
Name : |
Mr. Kalpesh |
|
Designation : |
Head - Finance Department |
|
Contact No.: |
91-22-66782000 |
|
Date : |
30.07.2014 |
LOCATIONS
|
Registered Office : |
1071/1072, Solitaire Corporate Park, Building No.10, 167, Guru
Hargovindji Marg, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra,
India |
|
Tel. No.: |
91-22-66782000/ 2020 |
|
Fax No.: |
91-22-66782001/ 2021 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
1081/1082, Solitaire Corporate Park – 10, 167, Guru Hargovindji
Marg, Andheri-Ghatkopar Link Road, Chakala, Andheri (East), Mumbai – 400 093,
Maharashtra, India |
|
|
|
|
Factory : |
G-15, F-6, MIDC Tarapur, Boisar, District Thane – 410 506,
Maharashtra, India |
|
Tel No.: |
91-2525-279384/ 270820 |
|
Fax No.: |
91-2525-271991 |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Virenderkumar
Dharamchand Arora
|
|
Designation : |
Director |
|
Address : |
54, V.K. Cottage, 9th Road, J.V.P.D. Scheme, Nutan Laxmi Society,
Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
05.04.1939 |
|
Qualifications and experience : |
B. Com having more than 45 years of experience |
|
Date of Appointment : |
31.07.2000 |
|
DIN No.: |
00276052 |
|
PAN No.: |
AADPA3937H |
|
|
|
|
Name : |
Mr. Ajay Virender Arora |
|
Designation : |
Director |
|
Address : |
54, V.K. Cottage, 9th Road, J.V.P.D. Scheme, Nutan Laxmi
Society, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
07.07.1968 |
|
Qualifications and experience : |
Bachelor
in Textiles, OPM Programme at Harvard Business School |
|
Date of Appointment : |
28.07.1999 |
|
DIN No.: |
00276143 |
|
PAN No.: |
ADDPA6742R |
|
|
|
|
Name : |
Mrs. Simone Arora |
|
Designation : |
Director |
|
Address : |
54, V.K. Cottage, 9th Road, J.V.P.D. Scheme, Nutan Laxmi
Society, Juhu, Mumbai – 400 049, Maharashtra, India |
|
Date of Birth/Age : |
12.12.1971 |
|
Date of Appointment : |
01.12.2012 |
|
DIN No.: |
03034132 |
|
PAN No.: |
ADFPA7357J |
|
|
|
|
Name : |
Mr. Amit Diwakar Sabley |
|
Designation : |
Director |
|
Address : |
D-804, Sadguru Complex, Phase-1, Film City Road, Goregoan (East),
Mumbai – 400 063, Maharashtra, India |
|
Date of Birth/Age : |
18.04.1977 |
|
Date of Appointment : |
07.05.2013 |
|
DIN No.: |
06584980 |
KEY EXECUTIVES
|
Name : |
Mr. Kalpesh |
|
Designation : |
Head - Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Virender Kumar Dharamchand Arora |
281250 |
7.50 |
|
Ajay Virender Arora |
3171000 |
84.56 |
|
Neena V. Arora |
281250 |
7.50 |
|
Simone A. Arora |
16500 |
0.44 |
|
Total
|
3750000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Premium Furnishing Fabrics, Bed Sheets etc. |
|
|
|
|
Exports : |
|
|
Products : |
· Premium Furnishing Fabrics ·
Bed Shits |
|
Countries : |
·
USA ·
UK ·
Europe ·
Middle East ·
Asian Countries ·
African Countries ·
Gulf ·
Thailand, etc. |
|
|
|
|
Imports : |
|
|
Products : |
·
Machinery ·
Raw Material |
|
Countries : |
·
Italy ·
Germany |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]:
|
Particulars |
Licensed
Capacity |
Installed
Capacity |
Actual
Production (Including
Outsource) |
|
Yarn |
N.A. |
1956 M. Tons |
9450442 Kgs |
|
Cloth |
N.A. |
17500000 Mtrs. |
16138992 Mtrs. |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
1300 (Approximately) |
|||||||||||||||||||||
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|
|||||||||||||||||||||
|
Bankers : |
·
Union Bank of India, Branch Santacruz (West), LA
Avante, JN of S.V. Road and Main Avenue, Santacruz (West), Mumbai – 400 054,
Maharashtra, India ·
ICICI Bank Limited, ICICI Bank Towers,
Bandra-Kurla Complex, Bandra (East), Mumbai – 400 051, Maharashtra, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors 1 : |
|
|
Name : |
KPMG Chartered Accountants |
|
|
|
|
Auditors 2 : |
|
|
Name : |
Parikh Joshi and Kothare Chartered Accountants |
|
Address : |
49/2341, M.H.B. Colony, Gandhi Nagar, Bandra (East), Mumbai – 400 051,
Maharashtra, India |
|
Tel No.: |
91-22-26515396/ 26428494/ 26451439 |
|
Fax No.: |
91-22-26455867 |
|
E-Mail: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFP1239N |
|
|
|
|
Enterprises which are owned, or have significant influence of or are
partners with Key management personnel and their relatives : |
·
D.C. Polyester Private Limited, India (CIN No.: U99999MH1986PTC039325)
·
D'Decor Exports, India ·
Manohar Dyeing and Printing Works Private Limited, India (CIN No.:
U24100MH1982PTC028017) ·
Home Idea Upholstery Private Limited, India (CIN No.:
U51311MH2008PTC187390) ·
D.C. Synthetics Private Limited, India (CIN No.:
U99999MH1981PTC024438) |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs.37.500 millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
37.500 |
37.500 |
37.500 |
|
(b) Reserves & Surplus |
1553.784 |
1201.505 |
1034.110 |
|
(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) |
1591.284 |
1239.005 |
1071.610 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
911.703 |
1311.284 |
813.843 |
|
(b) Deferred tax liabilities (Net) |
201.725 |
206.770 |
206.643 |
|
(c) Other long
term liabilities |
7.215 |
4.503 |
1.879 |
|
(d) Long-term
provisions |
0.000 |
0.425 |
0.000 |
|
Total Non-current
Liabilities (3) |
1120.643 |
1522.982 |
1022.365 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
1305.408 |
382.161 |
270.749 |
|
(b)
Trade payables |
327.879 |
376.874 |
194.205 |
|
(c)
Other current liabilities |
295.576 |
210.492 |
533.866 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
1928.863 |
969.527 |
998.820 |
|
|
|
|
|
|
TOTAL |
4640.790 |
3731.514 |
3092.795 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
2687.761 |
2154.598 |
2018.129 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
63.442 |
377.614 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
14.677 |
8.861 |
17.046 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
2765.880 |
2541.073 |
2035.175 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
566.920 |
497.409 |
513.128 |
|
(c)
Trade receivables |
1006.148 |
587.549 |
428.759 |
|
(d) Cash
and cash equivalents |
14.434 |
4.194 |
41.277 |
|
(e) Short-term
loans and advances |
30.000 |
0.000 |
0.000 |
|
(f)
Other current assets |
257.408 |
101.289 |
74.456 |
|
Total
Current Assets |
1874.910 |
1190.441 |
1057.620 |
|
|
|
|
|
|
TOTAL |
4640.790 |
3731.514 |
3092.795 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4500.818 |
3620.467 |
3194.753 |
|
|
|
Other Income |
|
|
48.353 |
|
|
|
TOTAL (A) |
4500.818 |
3620.467 |
3243.106 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Raw Material Consumption |
|
3381.202 |
1597.581 |
|
|
|
Manufacturing/ Trading Expenses |
|
|
640.185 |
|
|
|
Salaries and Other Benefits |
|
|
70.123 |
|
|
|
Administration Expenses |
|
|
104.878 |
|
|
|
Selling and Distribution Expenses |
|
|
283.460 |
|
|
|
Preliminary Expenses |
|
|
0.037 |
|
|
|
Increase/ Decrease in Inventory |
|
|
(19.884) |
|
|
|
TOTAL (B) |
3978.583 (Including
Financial and depreciation) |
3381.202 (Including
Financial and depreciation) |
2676.380 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
566.726 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
107.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
459.198 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
274.795 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
522.235 |
239.265 |
184.403 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
169.956 |
71.870 |
68.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
352.279 |
167.395 |
116.403 |
|
|
|
|
|
|
|
|
|
Add |
CY Deferred Tax
Assets/(Liability) |
NA |
-- |
6.368 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
1170.074 |
1002.679 |
1092.919 |
|
|
|
|
|
|
|
|
|
Less |
PY Deferred Tax
Assets/(Liability) |
NA |
-- |
213.011 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
1170.074 |
1002.679 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material (Yarn) |
NA |
NA |
29.115 |
|
|
|
Chemical |
NA |
NA |
3.200 |
|
|
|
Packing Materials |
NA |
NA |
6.458 |
|
|
|
Consumable, Stores and Spares |
NA |
NA |
24.430 |
|
|
TOTAL IMPORTS |
NA |
NA |
63.203 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
93.94 |
44.64 |
31.04 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
6000.000 |
|
|
|
|
|
The above information has been parted by Mr. Kalpesh (Head - Finance
Department)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
7.83 |
4.62 |
3.59 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
5.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.41 |
7.13 |
5.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33 |
0.19 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.39 |
1.37 |
1.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.97 |
1.23 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
37.500 |
37.500 |
37.500 |
|
Reserves & Surplus |
1034.110 |
1201.505 |
1553.784 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
1071.610 |
1239.005 |
1591.284 |
|
|
|
|
|
|
Long-term borrowings |
813.843 |
1311.284 |
911.703 |
|
Short term borrowings |
270.749 |
382.161 |
1305.408 |
|
Total borrowings |
1084.592 |
1693.445 |
2217.111 |
|
Debt/Equity ratio |
1.012 |
1.367 |
1.393 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
3243.106 |
3620.467 |
4500.818 |
|
|
|
11.636 |
24.316 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
3243.106 |
3620.467 |
4500.818 |
|
Profit |
116.403 |
167.395 |
352.279 |
|
|
3.59% |
4.62% |
7.83% |
LOCAL AGENCY FURTHER INFORMATION
Details of Current maturities of long-term debt:
|
Particulars |
31.03.2013 (Rs. in millions) |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
|
Current maturities of
long-term debt |
192.658 |
148.948 |
203.755 |
|
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four 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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
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 |
10310593 |
22/11/2012 * |
450,000,000.00 |
ICICI BANK |
ICICI BANK TOWERS,
BANDRA-KURLA COMPLEX, BANDRA (EAST), MUMBAI, MAHARASHTRA - 400051, INDIA |
B62298393 |
|
2 |
10299265 |
20/06/2011 |
400,000,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH, LA
AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI, MAHARASHTRA
- 400054, INDIA |
B17698754 |
|
3 |
10051860 |
06/02/2014 * |
3,687,600,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH,
LA AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI,
MAHARASHTRA - 400054, INDIA |
B97912984 |
|
4 |
10045037 |
27/02/2007 |
200,000,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH,
LA AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI,
MAHARASHTRA - 400054, INDIA |
A13548128 |
|
5 |
90146893 |
10/12/2005 |
3,000,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH,
LA AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI,
MAHARASHTRA - 400054, INDIA |
- |
|
6 |
90146828 |
20/01/2005 |
1,900,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH,
LA AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI,
MAHARASHTRA - 400054, INDIA |
- |
|
7 |
90146825 |
12/01/2005 |
3,000,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH, LA
AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI, MAHARASHTRA
- 400054, INDIA |
- |
|
8 |
80061922 |
21/08/2002 |
37,800,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH, LA
AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI, MAHARASHTRA
- 400054, INDIA |
- |
|
9 |
80061924 |
21/08/2002 |
50,000,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH, LA
AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI, MAHARASHTRA
- 400054, INDIA |
- |
|
10 |
90144049 |
21/08/2002 |
20,000,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH, LA
AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI, MAHARASHTRA
- 400054, INDIA |
- |
|
11 |
80061925 |
01/08/2001 |
42,500,000.00 |
UNION BANK OF INDIA |
SANTACRUZ (WEST) BRANCH, LA
AVANTI, JN.OF.S.V.ROAD AND MAIN AVENUE, SANTACRUZ (WEST), MUMBAI, MAHARASHTRA
- 400054, INDIA |
- |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs. in Millions) |
31.03.2012 (Rs. in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans
and advances from directors |
|
|
|
Virender Kumar Arora |
0.323 |
52.062 |
|
Ajay
Arora |
9.291 |
89.806 |
|
Simone
Arora |
(0.350) |
(0.700) |
|
Loans and advances from others |
0.638 |
414.654 |
|
Total |
9.902 |
555.822 |
BUSINESS OPERATION:
During the year, the
Company reported a significant increase in the total sales amounting to
Rs.4500.818 millions in comparison to Rs.3620.467 millions of previous year.
After making necessary provisions for expenses, the company reported net profit
of Rs.352.279 millions in comparison to Rs.167.395 millions of previous year.
FIXED ASSETS:
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Office Equipment
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 records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or investigation
registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.15 |
|
|
1 |
Rs.101.92 |
|
Euro |
1 |
Rs.80.64 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
54 |
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.