MIRA INFORM REPORT
|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
JHAVERI FLEXO INDIA LIMITED (w.e.f 11.09.2006) |
|
|
|
|
Formerly Known
As : |
FLEXO FILM WRAPS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-035938 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 153.063 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1985PLC035938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NKSF00196A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4037F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
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|
Line of Business
: |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a well-established company having satisfactory track
record. The company possesses a favorable financial profile marked by adequate
networth base and moderate debt protection indicators along with decent
liquidity position. Management has achieved a steady growth over past few years
demonstrated by the increases in operating income during FY 2013. Trade relations are fair. Business is active. Payment terms are
reported as usually correct. In view of long standing track, the subject can be considered for
business dealings at usual 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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief information
officers at gathering in Bangalore in April to meet Indian startups at an event
called Tech50 Watchout for Little Eye Labs-Facebook type deals in the making.
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 PARTED BY
|
Name : |
Mr. Dipu Divakaran |
|
Designation : |
Account Officer |
|
Contact No.: |
91-9423147915 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra,
India |
|
Tel. No.: |
91-2431-251663 / 664 |
|
Mobile No.: |
91-9423147915 (Mr. Dipu Divakaran) |
|
Fax No.: |
91-2431-251661 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office / Corporate Office : |
9th and 10th Floor, Gold Crest, 10th Road, J.V.P.D Scheme, Near HSBC Bank,
Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Tel. No.: |
91-22-61512121 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Dapada, Silvassa
Factory Survey No. 135/2, Village Dapada, Khanvel Road, Silvassa – 396230.
U.T. OF D.N.H. |
|
Tel No.: |
91-260-2699084/ 184 |
|
|
|
|
Factory 3: |
Luhari, Silvassa
Factory 188/2/1, Village Luhari, Opposite Govt Tourism Resort, Silvassa – 396
230, U.T OF D.N.H. |
|
Tel No.: |
91-2602993437 |
|
|
|
|
Indian Sales Offices : |
Located at: ·
Mumbai ·
Chennai ·
Delhi ·
Aurangabad ·
Hyderabad ·
Bangalore ·
Kolkata |
DIRECTORS
As on: 30.12.2011
|
Name : |
Mr. Rajul Sandeep Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
15.12.1960 |
|
Date of Appointment : |
10.09.2005 |
|
PAN No.: |
ABKPJ5415D |
|
DIN No.: |
00093998 |
|
|
|
|
Name : |
Mr. Sandeep Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1959 |
|
Date of Appointment : |
19.10.2006 |
|
PAN No.: |
AATPJ3903A |
|
DIN No.: |
00080518 |
|
|
|
|
Name : |
Mr. Krishna Kumar Sadani |
|
Designation : |
Managing Director |
|
Address : |
C-5/10, CIDCO Town Centre, CIDCO Aurangabad – 431003, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1962 |
|
Date of Appointment : |
26.08.1998 |
|
DIN No.: |
00060326 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Shah |
|
Designation : |
Director |
|
Address : |
161-A, Kalpataru Residency, 16th Floor, Tower – A, Sion
(East), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1957 |
|
Date of Appointment : |
30.07.2005 |
|
DIN No.: |
00298463 |
|
|
|
|
Name : |
Mr. Abhishek Suketu Jhaveri |
|
Designation : |
Whole time Director |
|
Address : |
4th Floor, 42, Neelamber Building, 37, Peddar Road, Mumbai
– 400026, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1986 |
|
Date of Appointment : |
19.05.2008 |
|
PAN No.: |
AFEPJ1695R |
|
DIN No.: |
02293226 |
|
|
|
|
Name : |
Mr. Marunal S Jhaveri |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
29.10.1985 |
|
Date of Appointment : |
29.10.2009 |
|
PAN No.: |
AEZPJ0790D |
|
DIN No.: |
02350001 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Gupta |
|
Designation : |
Secretary |
|
Address : |
Flat No.1, Ground Floor, Nirala Apartment, Near Mariya Hospital,
Basilal Naagr, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1976 |
|
Date of Appointment : |
01.09.2004 |
|
PAN No.: |
AJDPG8507C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.12.2011
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Promoters |
|
|
|
-
Indian Promoters |
18867948 |
74.99% |
|
-
Foreign Promoters |
0 |
0% |
|
Mutual Funds and UTI |
50000 |
0.20% |
|
Banks, Financial Institutions, Insurance companies (Central/ State
Government/ No-Government Institutions) |
18400 |
0.07% |
|
FIIs |
0 |
0% |
|
Private Corporate Bodies |
2243002 |
8.91% |
|
Indian Public |
2901028 |
11.53% |
|
NRIs/ OCBs |
1080261 |
4.30% |
|
Any Others |
0 |
0% |
|
|
|
|
|
Total |
25160639 |
100.00% |
As on: 30.12.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
|
|
|
|
Government [Central and State] |
|
0.01 |
|
Public financial companies |
|
0.05 |
|
Nationalised or other banks |
|
0.01 |
|
Mutual funds |
|
0.20 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.97 |
|
Bodies corporate |
|
18.92 |
|
Directors or relatives of directors |
|
60.03 |
|
Other top fifty shareholders |
|
16.80 |
|
Others |
|
3.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
|
|
|
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Exports : |
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|
Products : |
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Countries : |
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Imports : |
|
|
Products : |
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|
Countries : |
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Terms : |
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Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
Installed
Capacity |
|
Farola Unit |
|
12420 Mt |
|
Dapada Unit |
|
12000 Mt |
|
Luhari Unit |
|
7500 Mt |
|
Particulars |
Unit |
Actual
Production |
|
PVC Film |
Rolls |
1346853 |
|
Masking Film |
Kg. |
832635 |
|
Stretch Film |
Kg. |
1257548 |
|
Lamination Film |
Kg. |
2149689 |
|
CPP Film |
Kg. |
2546167 |
|
Laminates |
Kg. |
8713501 |
GENERAL INFORMATION
|
Customers : |
End Users · Britannia · Cadbury · GULF · Cargill · Dabur · Indian Oil · ITC Limited · JSW · Nestle · Hindustan Unilever Limited · Videocon · General Mills · Tata Chemicals ·
PepsiCo |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
700 (Approximately) |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
Bankers : |
The Saraswat Co-operative Bank, CIDCO Branch, Aurangabad, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Total Facilities: Rs. 496.600 Millions (From
The Saraswat Co-operative Bank)
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhatter and Company Chartered Accountants |
|
Address : |
307, Tulsiani Cha,ber, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
PAN No.: |
AACPB2705R |
|
|
|
|
Associates : |
· Wellworth Industries Limited CIN No.: L21022MH1994PLC170382 · Sangam Press Private Limited CIN No.: U22110MH1947PTC005528 · Mars Fincom Private Limited CIN No.: U51909MH1995PTC197277 · Lathia Rubber Manufacfacturing Co Private Limited CIN No.: U99999MH1969PTC014250 · R.S. Jhaveri and Company · R. S. Jhaveri Steel and Company Private Limited · Alcom Investment Private Limited · Vaishali India Limited · Vaishali Pigments Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : Rs. 250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.153.064
Millions
As on: 30.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.5/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25160639 |
Equity Shares |
Rs.5/- each |
Rs.125.803
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 |
153.063 |
125.803 |
125.803 |
|
(b) Reserves & Surplus |
678.307 |
451.319 |
441.057 |
|
(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) |
831.370 |
577.122 |
566.860 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a)
long-term borrowings |
442.166 |
619.945 |
461.688 |
|
(b) Deferred tax
liabilities (Net) |
27.117 |
21.994 |
16.175 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.000 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
469.283 |
641.939 |
477.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
374.048 |
344.141 |
343.684 |
|
(b)
Trade payables |
468.541 |
442.162 |
359.293 |
|
(c)
Other current liabilities |
112.470 |
129.944 |
126.851 |
|
(d)
Short-term provisions |
26.384 |
21.583 |
6.253 |
|
Total
Current Liabilities (4) |
981.443 |
937.830 |
836.081 |
|
|
|
|
|
|
TOTAL |
2282.096 |
2156.891 |
1880.804 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
938.717 |
1000.846 |
856.776 |
|
(ii)
Intangible Assets |
0.035 |
0.035 |
0.035 |
|
(iii)
Capital work-in-progress |
63.233 |
7.769 |
73.337 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b)
Non-current Investments |
0.050 |
0.050 |
0.050 |
|
(c)
Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
1002.035 |
1008.700 |
930.198 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
624.997 |
567.063 |
463.886 |
|
(c)
Trade receivables |
421.492 |
373.106 |
327.442 |
|
(d)
Cash and cash equivalents |
119.259 |
93.394 |
52.161 |
|
(e)
Short-term loans and advances |
109.322 |
109.224 |
101.553 |
|
(f)
Other current assets |
4.991 |
5.404 |
5.564 |
|
Total
Current Assets |
1280.061 |
1148.191 |
950.606 |
|
|
|
|
|
|
TOTAL |
2282.096 |
2156.891 |
1880.804 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3171.057 |
2768.082 |
2418.914 |
|
|
|
Other Income |
26.633 |
10.072 |
3.532 |
|
|
|
TOTAL (A) |
3197.690 |
2778.154 |
2422.446 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2278.062 |
1984.488 |
1768.923 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
19.531 |
(30.565) |
13.995 |
|
|
|
Employee benefit expense |
168.480 |
136.129 |
115.141 |
|
|
|
Other expenses |
433.318 |
414.692 |
373.131 |
|
|
|
Exceptional Items |
1.881 |
(0.136) |
0.145 |
|
|
|
TOTAL (B) |
2901.272 |
2504.608 |
2271.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
296.418 |
273.546 |
151.111 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
136.311 |
147.550 |
53.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
160.107 |
125.996 |
97.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.024 |
105.895 |
96.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.083 |
20.101 |
0.637 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.920 |
9.839 |
6.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.163 |
10.262 |
(6.246) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
121.238 |
110.932 |
117.178 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
157.401 |
121.238 |
110.932 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
356.741 |
206.564 |
55.640 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
724.666 |
734.531 |
675.474 |
|
|
|
Stores & Spares |
12.111 |
2.909 |
4.165 |
|
|
|
Office Equipments |
1.241 |
0.000 |
0.000 |
|
|
|
Plant and Machinery |
0.000 |
0.000 |
0.676 |
|
|
TOTAL IMPORTS |
738.018 |
737.440 |
680.315 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.18 |
0.41 |
(0.25) |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
4000.000 |
|
|
|
|
|
The above information has been parted by Mr. Dipu Divakaran
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.14 |
0.37 |
(0.26) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.64 |
0.72 |
0.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35 |
0.93 |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.98 |
1.68 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.22 |
1.13 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
125.803 |
125.803 |
153.063 |
|
Reserves & Surplus |
441.057 |
451.319 |
678.307 |
|
Net
worth |
566.860 |
577.122 |
831.370 |
|
|
|
|
|
|
long-term borrowings |
461.688 |
619.945 |
442.166 |
|
Short term borrowings |
343.684 |
344.141 |
374.048 |
|
Total
borrowings |
805.372 |
964.086 |
816.214 |
|
Debt/Equity
ratio |
1.421 |
1.671 |
0.982 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2418.914 |
2768.082 |
3171.057 |
|
|
|
14.435 |
14.558 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
2418.914 |
2768.082 |
3171.057 |
|
Profit |
(6.246) |
10.262 |
36.163 |
|
|
(0.26%) |
0.37% |
1.14% |
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 |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
Yes |
|
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 |
No |
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Long term
borrowings |
|
|
|
Term loans from other parties |
209.711 |
122.664 |
|
Loans and advance from related parties |
25.095 |
270.604 |
|
Sales tax deferral |
84.761 |
80.297 |
|
|
|
|
|
Total |
319.567 |
473.565 |
INDEX OF CHARGE:
|
Sr .No |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10429260
|
26/04/2013
|
30,000,000.00
|
SARASWAT
CO- OPERATIVE BANK LIMITED |
CIDCO BRANCH, NEAR CIDCO BUS
STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B76376219
|
|
2 |
10429267
|
26/04/2013
|
30,000,000.00
|
SARASWAT
CO- OPERATIVE BANK LIMITED |
CIDCO BRANCH, NEAR CIDCO BUS STAND,
CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B76377860
|
|
3 |
10407737
|
07/01/2013
|
99,500,000.00
|
UNITED
BANK OF INDIA |
UNITED BANK OF INDIA BUILDING,
25, SIR PHEROZ SHAH MEHTA ROAD, FORT MUMBAI, MAHARASHTRA - 400001, |
B69506921
|
|
4 |
10388076
|
08/11/2012
|
6,668,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BORIVLI WEST BRANCH,
SHOBHANA APARTMENT, CHANDAVARKAR ROAD, BORIVLI WEST, MUMBAI, MAHARASHTRA -
400092, INDIA |
B62590161
|
|
5 |
10386104
|
09/10/2012
|
875,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS,
KRANTI CHOWK, KRANTI CHOWK, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B61945465
|
|
6 |
10328061
|
13/12/2011
|
1,918,000.00
|
THE SARASWAT
CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS,
KRANTI CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B29474186
|
|
7 |
10325325
|
05/12/2011
|
75,000,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
'MADHU SHILP', PLOT NO. 6,
C/2, TOWN CENTRE, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA |
B28628576
|
|
8 |
10322013
|
14/11/2011
|
585,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI
CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B27364272
|
|
9 |
10323982
|
06/05/2011
|
96,600,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
MADHU SHILP, PLOT NO. 6, TOWN
CENTRE, NEAR CIDCO |
B17674821
|
|
10 |
10283326
|
20/04/2011
|
13,700,000.00
|
SARASWAT
CO-OPERATIVE BANK LIMITED |
MADHU SHILP, PLOT NO. 6, TOWN CENTRE,
NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B11148020
|
* Date of modification charge
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Vehicles
· Trade Mark
· Computer Equipment
· 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. 59.20 |
|
|
1 |
Rs. 99.52 |
|
Euro |
1 |
Rs. 80.83 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
47 |
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.