MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
AMI LIFESCIENCES PRIVATE LIMITED (w.e.f.13.06.2006) |
|
|
|
|
Formerly Known
As : |
SUN SCOPE LABORATORIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Prestige Plaza, 40 Urmi Society, Near Urmi Char
Rasta, Vadodara - 390020, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
02.03.1994 |
|
|
|
|
Com. Reg. No.: |
04-021470 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 83.094
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110GJ1994PTC021470 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BRDS05539C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCS9549F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Active Pharmaceutical Ingredients. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1095000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of “AMI Group”. It is an established company having
satisfactory track record. The company possesses an acceptable financial profile marked by modest
networth base and moderate working capital intensive nature of its
operations. Management has reported a better growth in its sales volume as well as
net profitability along with decent margins during FY13. The ratings also take into consideration the susceptibility of the
subject operating margins to raw material prices and foreign exchange rate
fluctuations. However, trade relation seems to be fair. Business is active. Payment
terms are reported as slow but correct. In view of vast experience of the promoters and certified
manufacturing facilities, the subject 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.
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7 %in 2013/14, marking a
second straight year of sub-5 % growth – the worst slowdown in more than a
quarter of a century. The data was below an official estimate of 4.9 % annual
growth and compared with 4.5 % in the last fiscal year. However, the current
account deficit narrowed sharply to $ 32.4 billion at 1.7 % of gross domestic
product, in 2013/14 from a record high of $ 98.8 billion or 4.7 %, the year
before.A sharp fall in gold imports due to restrictions on overseas purchases
and muted import of capital goods helped shrink the current account deficit.
Online retailer Flipkart has acquired fashion
portal Myntra as it prepares to battle with the rapidly expanding India arm of
the global e-commerce giant Amazon. The company raised $ 210 million from
Russian Investment firm DST Global which has also invested in companies like
Facebook, Twitter and Alibaba Group.
General Motors will start exporting vehicles
from its Talegaon plant near Pune in the second half of 2014. GM was one of the
few global carmakers that was using its India plant only for the domestic
market.
Google has overtaken Apple as the world’s top
brand in terms of value, according to global market research agency Millward
Brown. Google’s brand value shot up 40 % in a year to $ 158.84 billion. The top
10 of the 100 slots were dominated by US companies.
Infosys lost another heavy weight when B G
Srinivas, a board member put in his papers. He is the third CEO-hopeful to quit
after Chairman N R Narayana Murthy’s return to the company – Ashok Vemuri and V
Balakrishnan being the other two.While Vemuri went on to lead IGate,
Balakrishnan joined politics.
Naresh Goyal – promoted Jet Airways posted
biggest quarterly loss – Rs 2153.37 crore – in the three months ended March 31,
mainly because it has been offering discounts to passengers to fill planes.
William S Pinckney – Chairman and CEO of
Amway India was arrested by the Andhra Pradesh Police in connection with a
complaint against the direct selling firm. This is the second time that he has
been taken into custody. A year, ago the Kerala Police had arrested Pinckney
and two company directors on charges of financial irregularities.
China has told its state-owned enterprises to
sever links with American consulting firms after the United States charged five
Chinese military officers wih hacking US companies. China’s action which
targets consultancies like McKinsey & Co. and the Boston Consulting Group,
sterns from fears that the first are providing trade secrets to the US
governments.
India has emerged as a country with some of
the highest unregistered businesses in the world. Indonesia has the maximum
number of shadow businesses, says a study of 68 countries by Imperial College
Business School in London.
Pfizer has abandoned its attempt to buy
AstraZeneca for nearly $ 118 billion after the latter refused an offer of 55
pounds a share.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BB+ (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
March 31, 2014 |
|
Rating Agency Name |
CARE |
|
Rating |
A4+ (Short Term Bank Facilities) |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
March 31, 2014 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE
(CONTACT NO.: 91-265-2323046)
LOCATIONS
|
Registered Office : |
2nd Floor, Prestige Plaza, 40 Urmi Society, Near Urmi Char
Rasta, Vadodara - 390020, Gujarat, India
|
|
Tel. No.: |
91-265-2323046/ 3052103 |
|
Fax No.: |
91-265-2313523/ 3052104 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
440/5, Road No.82, GIDC Sachin, Surat - 394230, Gujarat, India |
|
|
|
|
Factory 2 : |
6915, GIDC, Behind Lakya Laboratory, Near Mukta Chowkdi, Ankleshwar,
Gujarat, India |
|
|
|
|
Branch Office/ Factory 3 : |
Plot No.82/B, ECP Channel Road, AT and PO. Karakhadi,
District Baroda - 391450, Gujarat, India |
|
|
|
|
Overseas Offices : |
Located at: 19, Cumberland Drive Voorhees, NJ 08043 USA Tel : +1 856 287 2255 Fax : +1 856 751 4535 Dr. Adel Said Brueelrainweg 21 CH-4147 Aesch Switzerland Tel : +41 61 753 9451 Fax : +41 61
753 9450 |
DIRECTORS
AS ON 27.08.2013
|
Name : |
Mr. Girishbhai Limbabhai Chovatia |
|
Designation : |
Managing director |
|
Address : |
A-56, Samarpan Society,
Behind Raneshvar Temple, Vasna Road, Vadodara-390015, Gujarat, India |
|
Date of Birth/Age : |
01.06.1969 |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
ABAPC5423A |
|
DIN No.: |
00907321 |
|
|
|
|
Name : |
Ms. Shivani Rudreshkumar Trivedi |
|
Designation : |
Director |
|
Address : |
C-406 Nisarg
Housing Complex, Near Vaccine, Institute, Behind J P Police Station,
Diwalipura, Vadodara-360015, Gujarat, India |
|
Date of Birth/Age : |
12.11.1975 |
|
Date of Appointment : |
30.09.2010 |
|
PAN No.: |
ABWPT7553Q |
|
DIN No.: |
01323471 |
|
|
|
|
Name : |
Mr. Maheshbhai Dhirubhai Kumbhani |
|
Designation : |
Whole-time director |
|
Address : |
B/22, Oum
Society, Behind Mother School, Gotri Vasna Link Road, Baroda- 390015,
Gujarat, India |
|
Date of Birth/Age : |
01.03.1975 |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
AJNPK7285K |
|
DIN No.: |
00803956 |
|
|
|
|
Name : |
Mr. Nareshbhai Ramjibhai Patel |
|
Designation : |
Whole-time director |
|
Address : |
26, Sai Baba Nagar
Society, Near Fair Station, Katar Gam, Surat - 390004, Gujarat, India |
|
Date of Birth/Age : |
20.09.1974 |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
ABCPP1222C |
|
DIN No.: |
00906232 |
|
|
|
|
Name : |
Mr. Karamshi Devarajbhai Pidhadia |
|
Designation : |
Director |
|
Address : |
A-206, Sun City,
Manjalpur, Vadodara–390011, Gujarat, India |
|
Date of Birth/Age : |
18.01.1954 |
|
Date of Appointment : |
29.09.2012 |
|
PAN No.: |
AGEPP4299A |
|
DIN No.: |
02152597 |
|
|
|
|
Name : |
Mr. Kalpesh Ravajibhai Patel |
|
Designation : |
Whole-time director |
|
Address : |
203, Agman Flat,
11 Sujata Park, Near JP Police Station, Diwalipura, Vadodara-390015, Gujarat,
India |
|
Date of Birth/Age : |
06.09.1969 |
|
Date of Appointment : |
01.01.2011 |
|
PAN No.: |
ADEPP3606L |
|
DIN No.: |
02289071 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.08.2013
NOTE: SHAREHOLDING DETAILS FILE ATTACHED
AS ON 27.08.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
26.80 |
|
Directors
or relatives of directors |
69.09 |
|
Others |
4.11 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Active Pharmaceutical Ingredients. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
· Axis Bank Limited Vardhaman Complex, Opposite GEB Office, Near Pizza Hut, Race Course (North), Vadodara - 390007, Gujarat, India · Citi Bank N.A. Pelican, 2nd Floor, Opposite Race Course Towers, Gotri Road, Baroda - 390007, Gujarat, India · IndusInd Bank Limited Ground Floor and 1st Floor, Gold Croft, Vishwas Colony, Jetalpur Road, Baroda - 390005, Gujarat, India · HDFC Bank Limited · Kotak Mahindra Bank Limited · State Bank of India ·
Dhanlaxmi Bank Limited · HSBC Bank Limited ·
UCO Bank |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Financial Institutions : |
· Tata Capital Financial Services Limited One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai - 400001, Maharashtra,
India · Electronica Finance Limited 128/A, Plot No.3, Kailashchanra Appartments, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H Patel and Company Chartered Accountants |
|
Address : |
104, Deepam Residency, 26 Vishwas Colony, Behind Apna
Bazar, Alkapuri, Vadodara - 390005, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
ACQPP5827Q |
|
|
|
|
Associates : |
· Ami Drugs And Speciality Chemicals Private Limited [U24231GJ2003PTC041913] · Ami Organics Private Limited [U24100GJ2007PTC051093] ·
Siddharth Interchem Private Limited
[U24231GJ2002PTC040746] |
CAPITAL STRUCTURE
AFTER 27.08.2013
Authorised Capital : Rs. 100.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 100.000
Millions
AS ON 27.08.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9,551,270 |
Equity Shares |
Rs. 10/- each |
Rs. 95.513
Millions |
|
|
|
|
|
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,309,350 |
Equity Shares |
Rs. 10/- each |
Rs. 83.094
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 |
83.094 |
68.600 |
50.000 |
|
(b) Reserves & Surplus |
190.646 |
124.230 |
98.866 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.100 |
0.166 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
273.840 |
192.996 |
148.866 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
112.200 |
97.369 |
88.113 |
|
(b) Deferred tax liabilities (Net) |
17.237 |
13.609 |
8.404 |
|
(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) |
129.437 |
110.978 |
96.517 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
224.606 |
173.196 |
145.913 |
|
(b)
Trade payables |
168.038 |
179.424 |
217.623 |
|
(c)
Other current liabilities |
57.851 |
58.494 |
39.450 |
|
(d)
Short-term provisions |
41.828 |
17.861 |
23.542 |
|
Total
Current Liabilities (4) |
492.323 |
428.975 |
426.528 |
|
|
|
|
|
|
TOTAL |
895.600 |
732.949 |
671.911 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
289.302 |
272.702 |
237.573 |
|
(ii)
Intangible Assets |
1.496 |
1.371 |
1.099 |
|
(iii)
Capital work-in-progress |
44.165 |
0.000 |
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 |
26.053 |
5.957 |
10.988 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
361.016 |
280.030 |
249.660 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
187.049 |
123.100 |
151.766 |
|
(c)
Trade receivables |
320.043 |
272.858 |
223.779 |
|
(d)
Cash and cash equivalents |
14.158 |
8.544 |
13.419 |
|
(e)
Short-term loans and advances |
1.904 |
34.585 |
19.198 |
|
(f)
Other current assets |
11.430 |
13.832 |
14.089 |
|
Total
Current Assets |
534.584 |
452.919 |
422.251 |
|
|
|
|
|
|
TOTAL |
895.600 |
732.949 |
671.911 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
1126.874 |
781.297 |
730.837 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
1029.359 |
739.940 |
670.338 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
EXCEPTIONAL, EXTRAORDINARY ITEMS AND TAXATION |
97.515 |
41.357 |
60.499 |
|
|
|
|
|
|
|
|
|
Less |
EXCEPTIONAL /
EXTRA ORDINATY ITEMS |
0.164 |
1.076 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
97.351 |
40.281 |
60.499 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
30.935 |
14.917 |
15.323 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
66.416 |
25.364 |
45.176 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
F.O.B. Value of Export |
312.700 |
6.649 |
93.904 |
|
|
|
|
|
|
|
|
|
CIF VALUE OF IMPORT |
8.440 |
203.112 |
177.678 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.99 |
3.70 |
9.04 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
5.89
|
3.25 |
6.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.43
|
5.50 |
9.00 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.21 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.23
|
1.40 |
1.57 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
1.06 |
0.99 |
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 |
50.000 |
68.600 |
83.094 |
|
Reserves & Surplus |
98.866 |
124.230 |
190.646 |
|
Share Application money pending allotment |
0.000 |
0.166 |
0.100 |
|
Net
worth |
148.866 |
192.996 |
273.840 |
|
|
|
|
|
|
long-term borrowings |
88.113 |
97.369 |
112.200 |
|
Short term borrowings |
145.913 |
173.196 |
224.606 |
|
Total
borrowings |
234.026 |
270.565 |
336.806 |
|
Debt/Equity ratio |
1.572 |
1.402 |
1.230 |
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 |
730.837 |
781.297 |
1126.874 |
|
|
|
6.904 |
44.231 |
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 |
730.837 |
781.297 |
1126.874 |
|
Profit |
45.176 |
25.364 |
66.416 |
|
|
6.18% |
3.25% |
5.89% |
LOCAL AGENCY FURTHER INFORMATION
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 |
28.374 |
47.213 |
29.536 |
|
|
|
|
|
|
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
10494769 |
26/03/2014 |
10,143,167.00 |
ELECTRONICA
FINANCE LIMITED |
128/A, PLOT
NO.3, KAILASHCHANRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA -
411038, INDIA |
C04555439 |
|
2 |
10448286 |
29/08/2013 |
26,900,000.00 |
TATA CAPITAL
FINANCIAL SERVICES LIMITED |
ONE FORBES, DR.
V. B. GANDHI MARG, FORT, MUMBAI, |
B84677533 |
|
3 |
10481596 |
19/08/2013 |
1,400,000.00 |
AXIS BANK
LIMITED |
TRISHUL 3RD
FLOOR OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ELLISBRIDGE, AHMEDABAD, GUJARAT -
380006, INDIA |
B87320586 |
|
4 |
10437520 |
10/06/2013 |
44,000,000.00 |
CITIBANK N. A. |
PELICAN, 2ND FLOOR,
OPP RACE COURSE TOWERS, GOTRI ROAD, BARODA, GUJARAT - 390007, INDIA |
B79906244 |
|
5 |
10424667 |
26/03/2013 |
12,500,000.00 |
INDUSIND BANK
LIMITED |
GROUND FLOOR
& 1ST FLOOR, GOLD CROFT, VISHWAS COLONY, JETALPUR ROAD, BARODA, GUJARAT -
390005, INDIA |
B74742024 |
|
6 |
10362557 |
31/05/2012 |
12,500,000.00 |
INDUSIND BANK
LIMITED |
GROUND FLOOR
& 1ST FLOOR, GOLD CROFT, VISHWAS COLONY, JETALPUR ROAD, BARODA, GUJARAT -
390005, INDIA |
B42428169 |
|
7 |
10285679 |
06/04/2011 |
30,000,000.00 |
CITIBANK N. A. |
1ST FLOOR,
PELICAN, OPP. RACE COURSE TOWER, GOTRI ROAD, BARODA, GUJARAT - 390007,
INDIA |
B12258752 |
|
8 |
10247289 |
01/04/2013 * |
120,000,000.00 |
CITIBANK N. A. |
1ST FLOOR,
KALAPURAM, NR. MUNICIPAL MARKET, C.G. ROAD, AHMEDABAD, GUJARAT - 380009,
INDIA |
B71994065 |
|
9 |
10204968 |
03/02/2010 |
694,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR,
VARDHAMAN COMPLEX, BESIDES PIZZA HUT, RACE COURSE CIRCLE, VADODARA,
GUJARAT - 390007, INDIA |
A79948063 |
|
10 |
10205710 |
03/02/2010 |
694,000.00 |
AXIS BANK
LIMITED |
2ND FLOOR,
VARDHAMAN COMPLEX, BESIDES PIZZA HUT, RACE COURSE CIRCLE, VADODARA,
GUJARAT - 390007, INDIA |
A80244387 |
|
11 |
10033786 |
22/11/2013 * |
276,200,000.00 |
AXIS BANK
LIMITED |
VARDHAMAN COMPLEX,
OPP GEB OFFICE, NEAR PIZZA HUT, RACE COURSE (NORTH), VADODARA, GUJARAT -
390007, INDIA |
B93227312 |
|
12 |
10033785 |
22/11/2013 * |
276,200,000.00 |
AXIS BANK
LIMITED |
VARDHAMAN
COMPLEX, OPP GEB OFFICE, NEAR PIZZA HUT, RACE COURSE (NORTH), VADODARA,
GUJARAT - 390007, INDIA |
B90584343 |
* Date of charge modification
UNSECURED LOANS
|
UNSECURED LOANS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG-TERM BORROWINGS |
|
|
|
Rupee term loans from banks |
1.125 |
3.067 |
|
Term loans from others |
52.087 |
57.665 |
|
|
|
|
|
Total |
53.212 |
60.732 |
OPERATION AND
FINANCIAL
The company has achieved turnover of Rs. 1126.800 Millions during the current year compared to Rs. 781.300 Millions in the previous year. The Company has earned a net profit of Rs. 664.100 Millions during the current year.
The directors do not recommend any dividend for the current
year. The company had not accepted any deposit from the public during the year.
FIXED ASSETS:
· Land
· Buildings
· Office building
· Factory building
· Plant and equipment
· Factory equipments
· Other plant and equipment
· Furniture and fixtures
· Vehicles
· Motor vehicles
· Office equipment
· Computer equipments
· Other equipments
· Computer software
·
Know-how
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or investigation
registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 60.28 |
|
|
1 |
Rs. 102.77 |
|
Euro |
1 |
Rs. 82.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.