MIRA INFORM REPORT
|
Report Date : |
11.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BEST PAPER MILLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2, Ram Niwas Pranjpe ‘B’ Scheme, Road No.3, Vile Parle (East), Mumbai
– 400057, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
26.09.1995 |
|
|
|
|
Com. Reg. No.: |
11-093122 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 97.572 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U21000MH1995PTC093122 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB06421C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Craft Paper and Importer of Waste Paper. |
|
|
|
|
No. of
Employees: |
250 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The company possesses a healthy financial profile marked by low
gearing and comfortable debt protection metrics along with a stable business profile
supported by its improving operating efficiency during 2013. The ratings also take into consideration the relatively modest scale
of operations, compared to larger players in the industry. However, trade relations are fair. Business is active. Payment terms
are reported as usually correct. In view of established position, 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.
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
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BBB (Long Term Rating) |
|
Rating Explanation |
Moderate degree of safety and moderate
credit risk. |
|
Date |
16.10.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A3+ (Short Term Rating) |
|
Rating Explanation |
Moderate degree of safety and higher credit
risk. |
|
Date |
16.10.2013 |
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
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Rajeeva Shetty |
|
Designation : |
Director |
|
Contact No.: |
91-9904366223 |
|
Date : |
10.06.2014 |
LOCATIONS
|
Registered Office : |
2, Ram Niwas Pranjpe ‘B’ Scheme, Road No.3, Vile Parle (East),
Mumbai-400057, |
|
Tel. No.: |
91-22-26135358 / 40973000 |
|
Mobile No.: |
91-22-26135359 / 40973030 |
|
E-Mail : |
|
|
Area : |
550 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 57, FGH/A Ghala,
Phase- 1, GIDC Vapi-396195, |
|
Tel. No.: |
91-260-2432991 / 2426998 / 2427265 |
|
Fax No.: |
91-260-2428155 / 2427266 |
|
|
|
|
Factory 2 : |
Plot No. 57/FGH/B-2, G.I.D.C, 1st Phase, Vapi-396195, |
|
Area : |
Total of both Factory 17000 Sq. Meters |
|
Location : |
Leased |
DIRECTORS
AS ON 24.07.2013
|
Name : |
Mr. Ramesh Kesavji Shah |
|
Designation : |
Managing Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, Jain Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1962 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2007 |
|
DIN No: |
00842933 |
|
|
|
|
Name : |
Mr. Manoj Shantilal Rathod |
|
Designation : |
Director |
|
Address : |
125-B, Tulsiwadi, Matar Pakhadi Road, Mazgaon, Mumbai – 400010,
Maharashtra, India |
|
Date of Birth/Age : |
14.05.1970 |
|
Date of Appointment : |
24.07.2010 |
|
DIN No: |
00964365 |
|
|
|
|
Name : |
Mr. Ketan Keshavji Shah |
|
Designation : |
Whole-time-Director |
|
Address : |
502, Manav Mandir, Sarvodya Nagar, Jain Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
Date of Birth/Age : |
17.02.1970 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.07.2007 |
|
DIN No: |
01362401 |
|
|
|
|
Name : |
Mr. Rajeeva Kalinga Shetty |
|
Designation : |
Director |
|
Address : |
Wing I, L-304, Panchvati Angan, Gurukul Road, Chala Via Vapi,
Vapipardi, Valsad – 396191, Gujarat, India |
|
Date of Birth/Age : |
14.08.1955 |
|
Date of Appointment : |
12.07.2012 |
|
DIN No: |
05336364 |
MAJOR SHAREHOLDERS
AS ON 24.07.2013
|
Names of Equity Shareholders |
No. of Shares |
|
Ramesh Shah |
1330000 |
|
Ketan Shah |
1309600 |
|
Jigna K Shah |
25000 |
|
Keshavji Bharmal Shah HUF |
20000 |
|
Keshavji Bharmal Shah |
45500 |
|
Ketan Keshavji Shah HUF |
17500 |
|
Pushpaben Keshavji Shah |
30000 |
|
Ramesh Keshavji Shah (HUF) |
32500 |
|
Sumaria Family Trust, India |
1400000 |
|
Bimal Kantilal Haria |
600 |
|
Sheetal Haria |
50000 |
|
Rohit Plasto Pack Private Limited,
India |
3053730 |
|
Kantilal Lakamshi Haria (HUF) |
600 |
|
Manish Kantilal Haria |
600 |
|
Pravinchandra Hirji Shah |
600 |
|
TOTAL
|
7316230 |
|
Names of Preferences Shareholders |
No. of Shares |
|
Sheetal Haria |
2441000 |
|
TOTAL |
2441000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 24.07.2013
|
Category |
Percentage |
|
Bodies corporate |
61.40 |
|
Directors or relatives of Directors |
38.60 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Craft Paper and Importer of Waste Paper. |
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Products : |
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Exports : |
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||||
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Products : |
Craft Paper |
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Countries : |
Gulf Countries |
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Imports : |
|
||||
|
Products : |
Waste Paper |
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|
Countries : |
·
USA ·
European Countries |
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|
||||
|
Terms : |
|
||||
|
Selling : |
Cash and Credit |
||||
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|
|
||||
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS [AS ON 31.03.2011]
|
Particulars |
Unit |
Licensed
Capacity |
|
M.G. Kraft Paper |
MT |
108000 |
|
Particulars |
Unit |
Actual
Production |
|
Kraft Paper |
MT |
978.845 |
GENERAL INFORMATION
|
Suppliers : |
Harmoon Associates, USA |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
Parle Products Limited, Silvassa |
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|
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|
No. of Employees : |
250 [Approximately] |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
·
Bank
of Maharashtra, Andheri (West) Mumbai – 400058, ·
Bank of
Maharashtra, Krishna Villa, ·
Axis
Bank, ·
IDBI
Bank Limited, IDBI Tower WTC Complex, Cuffe Parade, Mumbai, Maharashtra,
India ·
State
Bank of India, Commercial Branch, Ahmedabad Paramsiddhi Complex, 3rd
Floor, Opposite V S Hospital, Ellisbridge, Ahmedabad-380009, Gujarat, India · State Bank of India, Mid Corporate Group, Commercial Branch, 3rd Floor, Paramsiddhi Complex, Ellisbridge, Ahmedabad-380009, Gujarat, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sunderji Gosar and Company Chartered Accountants |
|
Address : |
203, Marshal House, India |
|
PAN No.: |
AALPS9313H |
|
|
|
|
Related Parties : |
·
Kumar International Limited ·
Rohit Plastopack Private Limited ·
Plastex Products Private Limited |
CAPITAL STRUCTURE
AS ON 24.07.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
|
|
Total |
|
Rs.125.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7316230 |
Equity Shares |
Rs.10/- each |
Rs. 73.162
Millions |
|
2441000 |
Preference Shares |
Rs.10/- each |
Rs. 24.410 Millions |
|
|
|
|
|
|
|
Total |
|
Rs. 97.572 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 |
97.572 |
97.572 |
97.572 |
|
(b) Reserves & Surplus |
462.615 |
372.877 |
321.808 |
|
(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) |
560.187 |
470.449 |
419.380 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
295.151 |
240.909 |
234.779 |
|
(b) Deferred tax liabilities (Net) |
65.245 |
53.762 |
45.883 |
|
(c) Other long term
liabilities |
7.397 |
2.432 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
367.793 |
297.103 |
280.662 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
301.240 |
292.529 |
286.145 |
|
(b) Trade
payables |
357.005 |
265.446 |
284.257 |
|
(c) Other
current liabilities |
125.436 |
110.090 |
70.998 |
|
(d) Short-term
provisions |
38.461 |
40.699 |
24.241 |
|
Total Current
Liabilities (4) |
822.142 |
708.764 |
665.641 |
|
|
|
|
|
|
TOTAL |
1,750.122 |
1,476.316 |
1,365.683 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
668.497 |
541.478 |
499.331 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
45.066 |
35.546 |
2.904 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
14.058 |
18.458 |
18.458 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
76.091 |
51.468 |
36.808 |
|
(e) Other
Non-current assets |
1.403 |
7.353 |
0.000 |
|
Total Non-Current
Assets |
805.115 |
654.303 |
557.501 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
363.532 |
322.959 |
351.246 |
|
(c) Trade
receivables |
497.014 |
384.841 |
358.080 |
|
(d) Cash
and cash equivalents |
39.232 |
36.002 |
29.149 |
|
(e)
Short-term loans and advances |
32.623 |
60.184 |
21.460 |
|
(f) Other
current assets |
12.606 |
18.027 |
48.247 |
|
Total
Current Assets |
945.007 |
822.013 |
808.182 |
|
|
|
|
|
|
TOTAL |
1,750.122 |
1,476.316 |
1,365.683 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2765.025 |
2459.195 |
2570.850 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
2546.525 |
2310.230 |
2424.730 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
218.500 |
148.965 |
146.120 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION (F) |
81.437 |
75.484 |
58.213 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) BEFORE
TAX (E-F) (G) |
137.063 |
73.481 |
87.907 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
33.825 |
14.454 |
18.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
103.238 |
59.027 |
69.407 |
|
|
|
|
|
|
|
|
|
Less |
DEFERRED TAX LIABILITY |
11.483 |
7.879 |
5.810 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD INCOME TAX |
2.017 |
0.079 |
1.842 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
307.225 |
256.156 |
194.401 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
396.963 |
307.225 |
256.156 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
10.58 |
6.05 |
8.44 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
3.73 |
2.40 |
2.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.11 |
5.17 |
6.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24 |
0.16 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.06 |
1.13 |
1.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.16 |
1.21 |
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 |
97.572 |
97.572 |
97.572 |
|
Reserves & Surplus |
321.808 |
372.877 |
462.615 |
|
Net
worth |
419.380 |
470.449 |
560.187 |
|
|
|
|
|
|
long-term borrowings |
234.779 |
240.909 |
295.151 |
|
Short term borrowings |
286.145 |
292.529 |
301.240 |
|
Total
borrowings |
520.924 |
533.438 |
596.391 |
|
Debt/Equity
ratio |
1.242 |
1.134 |
1.065 |
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 |
|
Total Income |
2,570.850 |
2,459.195 |
2,765.025 |
|
|
|
(4.343) |
12.436 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
2,570.850 |
2,459.195 |
2,765.025 |
|
Profit |
69.407 |
59.027 |
103.238 |
|
|
2.70% |
2.40% |
3.73% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT
(Rs.
In Millions)
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Current maturities of long-term debt |
56.526 |
65.876 |
41.797 |
|
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 |
Yes |
|
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
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 |
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
NOTE: Registered office of
the company has been shifted from Haria Centre E/8, Subhash Road, Vile Parle
(East), Mumbai – 400057, India to present address w.e.f of 01.06.2006
PERFORMANCE REVIEW:
The working result
for the year has shown marked all around improvement. Subject have increased to
Rs.2765.025 Millions compared to Rs.2459.195 Millions in the previous year. The
production of the Kraft Paper during the year was 112717.160 Mts Compared to
99266. 656 Mts in the previous year. The Net Profit of Rs.89.738 Millions
compared to Rs.51.069 Millions in the previous year. This has been achieved
Inspite of stiff competition from well-established players in the industry.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Long Term Borrowings |
|
|
|
Intercorporate
Deposits |
3.014 |
2.614 |
|
Loans and
Advances from Directors |
159.572 |
99.422 |
|
|
|
|
|
Total |
162.586 |
102.036 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10484458 |
11/03/2014 |
120,000,000.00 |
STATE
BANK OF INDIA |
MID
CORPORATE GROUP, COMMERCIAL BRANCH 3RD FLOOR, PARAMSIDDHI" COMPLEX
ELISBRIDGE, AHEMDABAD, GUJARAT - 380006, INDIA |
C00324228 |
|
2 |
10285028 |
22/03/2013
* |
780,000,000.00 |
STATE
BANK OF INDIA |
MID
CORPORATE GROUP, COMMERCIAL BRANCH, 3RD FLOOR, PARAMSIDDHI COMPLEX, ELLISBRIDGE,
AHMEDABAD, GUJARAT - 380006, INDIA |
B73212482 |
|
3 |
10149979 |
22/03/2013
* |
357,000,000.00 |
STATE
BANK OF INDIA |
MID
CORPORATE GROUP, COMMERCIAL BRANCH, 3RD FLOOR, PARAMSIDDHI COMPLEX,
ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B73212219 |
|
4 |
10098458 |
22/03/2013
* |
1,137,000,000.00 |
STATE
BANK OF INDIA |
MID
CORPORATE GROUP, COMMERCIAL BRANCH, 3RD FLOOR, PARAMSIDDHI COMPLEX,
ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
B73211799 |
|
5 |
10120764 |
07/12/2006 |
279,500,000.00 |
STATE
BANK OF INDIA |
COMMERCIAL
BRANCH, PARAMSIDDHI COMPLEX,, ELLISBRIDGE, AHMEDABAD, GUJARAT - 380006, INDIA |
A09788092 |
* Date of charge modification
FIXED ASSETS:
- Land
- Boiler
- Factory Building
- Office Building
- Plant and Machinery
- ETP
- Furniture and Fixtures
- Vehicles
- Office Equipments
- Computer
- Steam Turbine
- ESP System
- Wind Mill
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.59.26 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.80.59 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
|
48 |
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.