MIRA INFORM REPORT
|
Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MICRO INKS
LIMITED (w.e.f.03.03.2004) |
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Formerly Known
As : |
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Registered
Office : |
Bilakhia House,
Muktanand Marg, Chala, Vapi – 396191, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
13.11.1991 |
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Com. Reg. No.: |
04-016598 |
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Capital
Investment / Paid-up Capital : |
Rs.248.730
Millions |
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CIN No.: [Company Identification
No.] |
U24220GJ1991PLC016598 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
SRTM01621E |
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PAN No.: [Permanent Account No.] |
AAACH7063F |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturing of various types of Printing Inks, Resins, Adhesives,
Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
|
MIRA’s Rating : |
A (66) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 42000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Exist |
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Comments : |
Subject is a subsidiary of MHM Holding GmbH, Germany. It is a
well-established company having fine track record. The rating reflects company’s leadership position in the domestic printing
ink market marked by strong financial risk profile, comfortable capital
structure and adequate liquidity position of the company. Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. The company can be considered good for normal 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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
N E W S
The economy grew 4.7
%in 2013/14, marking a second straight year of sub-5 % growth – the worst slowdown
in more than a quarter of a century. The data was below an official estimate of
4.9 % annual growth and compared with 4.5 % in the last fiscal year. However,
the current account deficit narrowed sharply to $ 32.4 billion at 1.7 % of
gross domestic product, in 2013/14 from a record high of $ 98.8 billion or 4.7
%, the year before.A sharp fall in gold imports due to restrictions on overseas
purchases and muted import of capital goods helped shrink the current account
deficit.
Online retailer Flipkart
has acquired fashion portal Myntra as it prepares to battle with the rapidly
expanding India arm of the global e-commerce giant Amazon. The company raised $
210 million from Russian Investment firm DST Global which has also invested in
companies like Facebook, Twitter and Alibaba Group.
General Motors will
start exporting vehicles from its Talegaon plant near Pune in the second half
of 2014. GM was one of the few global carmakers that was using its India plant
only for the domestic market.
Google has overtaken
Apple as the world’s top brand in terms of value, according to global market
research agency Millward Brown. Google’s brand value shot up 40 % in a year to
$ 158.84 billion. The top 10 of the 100 slots were dominated by US companies.
Infosys lost another
heavy weight when B G Srinivas, a board member put in his papers. He is the
third CEO-hopeful to quit after Chairman N R Narayana Murthy’s return to the
company – Ashok Vemuri and V Balakrishnan being the other two.While Vemuri went
on to lead IGate, Balakrishnan joined politics.
Naresh Goyal –
promoted Jet Airways posted biggest quarterly loss – Rs 2153.37 crore – in the
three months ended March 31, mainly because it has been offering discounts to
passengers to fill planes.
William S Pinckney –
Chairman and CEO of Amway India was arrested by the Andhra Pradesh Police in
connection with a complaint against the direct selling firm. This is the second
time that he has been taken into custody. A year, ago the Kerala Police had
arrested Pinckney and two company directors on charges of financial
irregularities.
China has told its
state-owned enterprises to sever links with American consulting firms after the
United States charged five Chinese military officers wih hacking US companies.
China’s action which targets consultancies like McKinsey & Co. and the
Boston Consulting Group, sterns from fears that the first are providing trade
secrets to the US governments.
India has emerged as
a country with some of the highest unregistered businesses in the world.
Indonesia has the maximum number of shadow businesses, says a study of 68
countries by Imperial College Business School in London.
Pfizer has abandoned
its attempt to buy AstraZeneca for nearly $ 118 billion after the latter
refused an offer of 55 pounds a share.
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 DENIED BY
|
Name : |
Mr. Martin |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-260-3052100 |
|
Date : |
19.06.2014 |
LOCATIONS
|
Registered /
Corporate Office : |
Bilakhia House,
Muktanand Marg, Chala, Vapi – 396191, |
|
Tel. No.: |
91-260-2462811/
2460284/ 2460280/ 3052100 |
|
Fax No.: |
91-260-2463932/
2463733/ 3052125 |
|
E-Mail : |
info@microinks.com
alpesh.chahiyara@microinks.com |
|
Website : |
www.microinks.com
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Area : |
5000 sq. ft. |
|
Location : |
Owned |
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Marketing
Headquarters/ Sales and
Support - International Business
Division : |
907, Windfall Sahar Plaza, J B Nagar, Andheri (East), Mumbai - 400059,
Maharashtra, India |
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Tel No.: |
91-22-28360201/ 28364313 |
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Fax No : |
91-22-28379660/ 28222222 |
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E-mail : |
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Factory : |
Located at:
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Branch Offices : |
Located At:
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Western Region 1: |
302, Shapath II, Opposite Rajpath Club, Sarkhej Gandhinagar Highway,
Ahmedabad -380015, Gujarat, India |
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Tel No.: |
91-79-26871541-43 |
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Fax No : |
91-79-26871544 |
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Western Region 2 : |
Located at:
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Northern region : |
Located at:
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Southern Region : |
Located at:
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Eastern Region : |
9 Transport Depot Road, Kolkata-700088, West Bengal, India |
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Tel No.: |
91-33-24496134 / 36 |
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Fax No : |
91-33-24495051 |
DIRECTORS
As on 30.04.2013
|
Name : |
Mrs. Ashwani Kumar Bhardwaj |
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Designation : |
Managing Director |
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Address : |
Flat No. 1001, Emerald Royal Gems, Vapi Daman Road, Vapi, Valsad -
396191, Gujarat, India |
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Date of Birth/Age : |
18.03.1958 |
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Qualification : |
B.Sc. MBA |
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Date of Appointment : |
31.01.2012 |
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PAN No.: |
AFBPB0925K |
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DIN No.: |
01515689 |
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Name : |
Mr. Ursula G. Borgmann |
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Designation : |
Director appointed in casual vacancy |
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Address : |
The Village, Near Collectorate, Damanwada, Moli Daman 396220 U.T.,
India |
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Date of Birth/Age : |
07.09.1955 |
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Qualification : |
Graduate in Chemical Engineering |
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Date of Appointment : |
03.02.2006 |
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DIN No.: |
01541193 |
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Name : |
Mr. Heinrich W. Ringer |
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Designation : |
Director |
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Address : |
The Village, Near Collectorate, Damanwada, Moli Daman 396220 U.T.,
India |
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Date of Birth/Age : |
21.12.1994 |
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Qualification : |
MBA |
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Date of Appointment : |
29.07.2010 |
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DIN No.: |
01540491 |
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Other Directorship:
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KEY EXECUTIVES
|
Name : |
Mr. Alpesh Mansukhlal Chaniyara |
|
Designation : |
Company Secretary |
|
Address : |
Block No. 2, Shree Co-operative Housing Society, Vapi - Daman Road,
Chala, Vapi - 396191, Valsad, Gujarat, India
|
|
Date of Birth/Age : |
13.06.1977 |
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Date of Appointment : |
01.06.2011 |
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PAN No.: |
AEHPC5783R |
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|
|
Name : |
Mr. Sandeep
Bhandari |
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Designation : |
Vice President and Chief Financial Officer |
MAJOR SHAREHOLDERS
As on 30.04.2013
SHAREHOLDING DETAILS FILE ATTACHED
Equity Share Break up (Percentage of Total Equity)
As on 30.04.2013
|
Category |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident
Indian(s) or Overseas Corporate bodies or Others |
99.26 |
|
Bodies corporate |
0.46 |
|
Directors or relatives of Directors |
0.01 |
|
Other top fifty shareholders |
0.27 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of various types of Printing Inks, Resins, Adhesives,
Pigments, Flush Colours, Wire Enamels, Retarders and their intermediates. |
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Products : |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
Information denied by management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Deloitte Haskins
and Sells Chartered Accountants |
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Address : |
12, |
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PAN No.: |
AACFD4815A |
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Holding
Company : |
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Associates |
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Subsidiary
Companies : |
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Fellow
Subsidiaries: |
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CAPITAL STRUCTURE
As on 30.04.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.10000/- each |
Rs.300.000 Millions |
|
5500000 |
Preference Shares |
Rs.100/- each |
Rs.550.000 Millions |
|
|
Total |
|
Rs.850.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
24873 |
Equity Shares |
Rs.10000/- each |
Rs.248.730
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 |
248.730 |
248.730 |
248.720 |
|
(b) Reserves & Surplus |
10,173.214 |
8,855.047 |
7,767.100 |
|
(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) |
10,421.944 |
9,103.777 |
8,015.820 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
494.480 |
916.300 |
885.170 |
|
(b) Deferred tax liabilities (Net) |
375.066 |
364.308 |
334.630 |
|
(c) Other long term
liabilities |
262.276 |
224.848 |
197.270 |
|
(d) long-term
provisions |
139.909 |
115.474 |
169.840 |
|
Total Non-current
Liabilities (3) |
1,271.731 |
1,620.930 |
1,586.910 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
2,298.068 |
1,030.544 |
1,726.070 |
|
(b) Trade
payables |
2,755.730 |
2,950.858 |
2,317.900 |
|
(c) Other
current liabilities |
741.841 |
692.127 |
823.920 |
|
(d) Short-term
provisions |
329.202 |
293.319 |
210.570 |
|
Total Current
Liabilities (4) |
6,124.841 |
4,966.848 |
5,078.460 |
|
|
|
|
|
|
TOTAL |
17,818.516 |
15,691.555 |
14,681.190 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current
assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
3,778.871 |
4,038.980 |
3,139.590 |
|
(ii)
Intangible Assets |
20.030 |
14.967 |
17.350 |
|
(iii)
Capital work-in-progress |
127.877 |
50.994 |
447.760 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
2,037.780 |
2,037.780 |
1,807.080 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
652.604 |
407.230 |
287.400 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
6,617.162 |
6,549.951 |
5,699.180 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
150.150 |
|
(b)
Inventories |
3,490.883 |
2,643.124 |
2,675.960 |
|
(c) Trade
receivables |
6,865.761 |
5,858.133 |
5,162.170 |
|
(d) Cash
and cash equivalents |
29.771 |
77.935 |
434.320 |
|
(e)
Short-term loans and advances |
579.161 |
428.788 |
393.010 |
|
(f) Other
current assets |
235.778 |
133.624 |
166.400 |
|
Total
Current Assets |
11,201.354 |
9,141.604 |
8,982.010 |
|
|
|
|
|
|
TOTAL |
17,818.516 |
15,691.555 |
14,681.190 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
24,324.794 |
21,519.622 |
20,504.280 |
|
|
|
|
Other Income |
30.716 |
35.656 |
502.050 |
|
|
|
|
TOTAL (A) |
24,355.510 |
21,555.278 |
21,006.330 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Materials Consumed |
17,537.048 |
15,346.472 |
14,535.110 |
|
|
|
|
Changes in Inventories of finished goods, work-in-progress and
stock-in-trade |
(304.207) |
(120.995) |
132.700 |
|
|
|
|
Employee Benefits Expenses |
634.208 |
592.320 |
548.450 |
|
|
|
|
Other Expenses |
3,515.949 |
3,249.099 |
2,789.510 |
|
|
|
|
TOTAL (B) |
21,382.998 |
19,066.896 |
18,005.770 |
|
|
|
|
|
|
|
||
|
Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2,972.512 |
2,488.382 |
3,000.560 |
||
|
|
|
|
|
|
||
|
Less |
FINANCIAL
EXPENSES (D) |
244.233 |
234.061 |
627.650 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
2,728.279 |
2,254.321 |
2,372.910 |
||
|
|
|
|
|
|
||
|
Less |
DEPRECIATION/
AMORTISATION (F) |
414.601 |
371.713 |
366.360 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
2,313.678 |
1,882.608 |
2,006.550 |
||
|
|
|
|
|
|
||
|
Less |
TAX (H) |
819.757 |
622.379 |
638.160 |
||
|
|
|
|
|
|
||
|
|
PROFIT/(LOSS)
AFTER TAX (G-H) (I) |
1,493.921 |
1,260.229 |
1,368.390 |
||
|
|
|
|
|
|
||
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4741.859 |
3804.500 |
2760.130 |
||
|
|
|
|
|
|
||
|
Less |
APPROPRIATIONS |
|
|
|
||
|
|
|
Transfer to General Reserve |
150.000 |
150.000 |
150.000 |
|
|
|
|
Dividend |
149.240 |
149.240 |
149.230 |
|
|
|
|
Tax on Dividend |
26.510 |
23.630 |
24.790 |
|
|
|
BALANCE CARRIED
TO THE B/S |
5910.030 |
4741.859 |
3804.500 |
||
|
|
|
|
|
|
||
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
||
|
|
|
Export of goods at F.O.B. value |
13564.904 |
11026.223 |
10929.210 |
|
|
|
|
Others (employee compensation) |
2.795 |
0.312 |
11.110 |
|
|
|
TOTAL EARNINGS |
13567.699 |
11026.535 |
10940.320 |
||
|
|
|
|
|
|
||
|
|
IMPORTS |
|
|
|
||
|
|
|
Raw Materials |
9228.499 |
7043.254 |
6365.170 |
|
|
|
|
Stores & Spares |
15.452 |
23.877 |
12.570 |
|
|
|
|
Capital Goods |
3.295 |
72.871 |
83.510 |
|
|
|
TOTAL IMPORTS |
9247.246 |
7140.002 |
6461.250 |
||
|
|
|
|
|
|
||
|
|
Earnings Per
Share (Rs.) |
60062.74 |
50667.43 |
55017.04 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
6.13 |
5.85 |
6.51 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.51 |
8.75 |
9.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.78 |
13.84 |
16.15 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22 |
0.21 |
0.25 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.27 |
0.21 |
0.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.83 |
1.84 |
1.77 |
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 |
248.720 |
248.730 |
248.730 |
|
Reserves & Surplus |
7767.100 |
8855.047 |
10173.214 |
|
Net
worth |
8015.820 |
9103.777 |
10421.944 |
|
|
|
|
|
|
long-term borrowings |
885.170 |
916.300 |
494.480 |
|
Short term borrowings |
1726.070 |
1030.544 |
2298.068 |
|
Total
borrowings |
2611.240 |
1946.844 |
2792.548 |
|
Debt/Equity
ratio |
0.326 |
0.214 |
0.268 |
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 |
20,504.280 |
21,519.622 |
24,324.794 |
|
|
|
4.952 |
13.035 |
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
|
20,504.280 |
21,519.622 |
24,324.794 |
|
Profit |
1,368.390 |
1,260.229 |
1,493.921 |
|
|
6.67% |
5.86% |
6.14% |
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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----------- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---------- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
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 |
LITIGATION DETAILS
|
HIGH
COURT OF GUJARAT STAMP
NUMBER No. 2264 of 2012 To STAMP NUMBER No. 2265 of 2012
Last Listing Date: 19/11/2012
Office Objection
Other Forums
Office Details
Court Proceedings
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
Short Term Borrowings |
|
|
|
Foreign currency term loans from banks |
958.055 |
133.219 |
|
Total |
958.055 |
133.219 |
CORPORATE
INFORMATION
The company is engaged in the manufacturing of various types of Printing
Inks, Resins, Adhesives, Pigments, Flush Colours, Wire Enamels, Retarders and
their intermediates. It is a part of the Germany based hubergroup.
OUTLOOK
During the year, global economic growth increased marginally. Continuing underperformance was principally due to two factors. First, growth continued to disappoint in major emerging market economies-reflecting, in varying degrees, infrastructure bottlenecks and other capacity constraints, slower demand growth, concerns regarding financial stability, as well as apprehensions relating to fiscal deficits, monetary policies and current account deficits. Second, continuing recession in the Euro area was both longer and deeper than expected, with low demand, depressed confidence and high unemployment. The one positive has been the USA. Everything points to a steady economic recovery though the pace continues to remain slow.
The currency and exchange rates have been playing an increasingly important role. These conditions have affected both business and consumer sentiments.
Simply put, FY2013 was a difficult year for the Company. However, the ability to withstand adversities and grow operating profits further strengthens Company's business vision, which has focused on long-term value creation and sustainability.
With all these adverse conditions, the company maintained a topline growth both in domestic as well as export segments and achieved highest profits in the Company's history.
The current year gives hope of stability in Indian market as the current account deficit, fiscal deficit have been curtailed and the currency too has stabilized. In fact, during the first two months INR has been the best performing currency in the emerging markets. The outlook of USA, Europe look promising and we hope for better prospects. India is in the election mode and a lot depends upon the outcome of election results.
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10402321 |
03/04/2013 * |
550,000,000.00 |
The Bank of Nova Scotia Asia Limited |
One Raffles Quay, #20-01 North Tower, Singapore, - 048583, Singapore |
B73979544 |
|
2 |
10397775 |
03/04/2013 * |
500,000,000.00 |
The Bank of Nova Scotia |
Mittal Tower, "B" Wing,, Nariman Point, Mumbai, Maharashtra - 400021, India |
B74023763 |
|
3 |
10319236 |
03/04/2013 * |
450,000,000.00 |
DBS Bank Limited |
Upper Ground Floor, Birla Road,, 25 Barakhamba Road, New Delhi - 110001, India |
B74024357 |
|
4 |
10285710 |
03/04/2013 * |
920,000,000.00 |
Australia and New Zealand Banking Group Limited |
10 Collyer Quay, #18-00 Ocean Financial Centre, Singapore, - 049315, Singapore |
B73469496 |
|
5 |
10106131 |
03/04/2013 * |
1,000,000,000.00 |
The Hongkong and Shanghai Banking Corporation Limited |
52/60, M. G. Road, Fort, Mumbai, Maharashtra - 400001, India |
B73979023 |
|
6 |
80012233 |
03/04/2013 * |
2,150,000,000.00 |
State Bank of India |
3rd Floor, State Bank Bhavan,, Madam Kama Road, Nariman Point,, Mumbai, Maharashtra - 400021, India |
B73241507 |
|
7 |
80012217 |
03/04/2013 * |
1,750,000,000.00 |
ICICI Bank Limited |
Landmark, Race
Course Circle,, Alkapuri,, Baroda, |
B73084725 |
|
8 |
80012219 |
04/06/2011 * |
1,800,000,000.00 |
STANDARD CHARTERED BANK |
90, M. G. Road,, Fort, Mumbai, Maharashtra - 400001, India |
B15306137 |
|
9 |
90103243 |
19/05/2011 * |
350,000,000.00 |
Axis Bank Limited |
Trishul 3rd Floor Opp Samartheshwar Temple, Law Garden Ellisbridge, Ahmedabad, Gujarat - 380006, India |
B13361019 |
*Date of modification Charges
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Computer
·
Vehicles
·
Furniture and Fixture
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 : |
HNA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
VNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
8 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
|
|
|
|
TOTAL |
|
66 |
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.