MIRA INFORM REPORT
|
Report Date : |
25.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
COGENT GLASS LIMITED |
|
|
|
|
Registered
Office : |
Sy. No. 66 (Part) and 67 (Part), Miyapur, Serrilingampally Mandal,
Hyderabad – 500050, Telangana |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of Incorporation
: |
13.11.2009 |
|
|
|
|
Com. Reg. No.: |
065810 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 679.465 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26100TG2009PLC065810 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDC04437G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC7815K |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of glassware in Pharmaceutical Industry (Bottles). |
|
|
|
|
No. of Employees
: |
Information declined by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The company has achieved minimal income during 2013, it seems that the
company has not commenced its core business operations. The company has recorded some accumulated losses, borrowings of the
company also seems to be huge and increasing. However, trade relations are reported as fair. Business is active.
Payment terms are reported to be slow but correct. The company 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.
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
NEWS
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 |
INDIA RATING |
|
Rating |
Long term rating = BBB |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
November, 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 DENIED
Management Non-Cooperative
Contact No.: 91-40-43349999
LOCATIONS
|
Registered Office : |
Sy. No. 66 (Part) and 67 (Part), Miyapur, Serrilingampally Mandal,
Hyderabad – 500050, Telangana, India |
|
Tel. No.: |
91-40-42628051 |
|
Mobile No.: |
91-9963579307 (Mr. Y R Murty) |
|
Fax No.: |
91-40-42305947 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Mahabood Nagar, Bangalore Highway, Bangalore, Karnataka, India |
|
|
|
|
Empowering Pharma Primary Packaging : |
4th Floor , Water mark Building , Opposite to
Mahindra Satyam ,Hitech city , Hyderabad- 500 081, Telangana,
India |
|
Tel. No.: |
91-40-4334 9999 |
DIRECTORS
AS ON: 30.09.2013
|
Name : |
Mr. Iqbal Sardar Singh |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Mirra Mansion, Opposite JPN Colony, Miyapur, Hyderabad – 500050,
Andhra Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.08.1961 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
AFVPS5233H |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
13.11.2009 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
00050365 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mettu Madan Mohan Reddy |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
H. No. 101, Madhura Nagar, Ameerpet, Hyderabad – 500038, Andhra
Pradesh, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.06.1960 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN No. : |
AFLPM3932R |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
13.11.2009 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No. : |
01284266 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Frederic Barbier |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
16, Rue De L'abreuvoir, Floor 5, Door 4, Courbevoie - 92400 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
08.02.1975 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
11.12.2013 |
|||||||||||||||||||||||||||
|
DIN No. : |
05325490 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Ashok Sudan |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
2620 Valley View Drive, Lancaster, PA, Lancaster – 17601, USA |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.04.1953 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||
|
DIN No. : |
02374967 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Laurent Claude Philippe Pierre Zuber |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
10 B, AV Casmir, Asnieres Sur Seine, France - 92600 |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.03.1958 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||
|
DIN No. : |
05325516 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Jean Joseph Pierre Georges Rollier |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
1 Berber Road, London – SW116RZ, United Kingdom |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
14.06.1973 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
30.09.2013 |
|||||||||||||||||||||||||||
|
DIN No. : |
06569867 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON: 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Netherlands Glass Investment BV, Netherlands
|
75866259 |
|
Prevesha Industries Private Limited, India |
1308844 |
|
P Sarath Chandra Reddy |
5000 |
|
P Rohit Reddy |
5000 |
|
Madan Mohan Reddy |
1242355 |
|
M Srivani |
133502 |
|
M. Sumanth Kumar Reddy |
674317 |
|
Sardar Iqbal Singh |
6193975 |
|
P. Suneela Rani |
14377913 |
|
K. Rajeswari |
3030237 |
|
k. Spoorthi |
3995117 |
|
Ram Prasad Reddy |
1000 |
|
|
|
|
Total |
106833519 |
AS ON: 11.12.2013
|
Names of Allottee |
|
No. of Shares |
|
Netherlands Glass Investment BV, Netherlands
|
|
11776876 |
|
|
|
|
|
Total |
|
11776876 |
AS ON: 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
71.01 |
|
Bodies corporate |
1.23 |
|
Directors or relatives of Directors |
27.76 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of glassware in Pharmaceutical Industry (Bottles). |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management. |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
State Bank of India, Ozone, 2nd Floor,
# 6-3-669, Punjagutta, Main Road, Hyderabad – 500082, Andhra Pradesh, India ·
Axis Bank Limited, 6-3-879/B, Ground Floor, G.
Pulla Reddy Building, Greenlands, Begumpet Road, Hyderabad – 500018, Andhra
Pradesh, India ·
ICICI Bank Limited, Landmarkrace Cource Circle,
Alkapuri, Vadodara – 390015, Gujarat, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kishore and Venkat Associates Chartered Accountants |
|
Address : |
H. No. #130/2 Rt, Sanjeevan Reddy Nagar, Hyderabad – 500038, Andhra
Pradesh, India |
|
Tel. No.: |
91-40-23701812, 23811247 |
|
E-Mail : |
|
|
PAN No. : |
AACFK0495R |
|
|
|
|
Subsidiary
company : |
Matri Mirra Packaging Private Limited U25202AP2009PTC066294 |
|
|
|
|
Enterprises which are owned, or have significant influence of or are partners with Key management personnel and their relatives
: |
|
CAPITAL STRUCTURE
After: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
122,250,000 |
Equity Shares |
Rs.10/- each |
Rs. 1222.500 Millions |
|
400,000 |
Preference Shares |
Rs.100/- each |
Rs. 40.000 Millions |
|
|
Total |
|
Rs. 1262.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
118,610,395 |
Equity Shares |
Rs.10/- each |
Rs. 1186.104 Millions |
|
|
|
|
|
AS ON: 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
8,00,00,000 |
Equity Shares |
Rs.10/- each |
Rs.800.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,79,46,464 |
Equity Shares |
Rs.10/- each |
Rs.679.465 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 |
679.465 |
31.800 |
31.800 |
|
(b) Reserves & Surplus |
(48.105) |
0.000 |
0.000 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
324.736 |
18.200 |
|
Total
Shareholders’ Funds (1) + (2) |
631.360 |
356.536 |
50.000 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
349.766 |
212.819 |
70.481 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
15.250 |
|
(d) long-term
provisions |
1.842 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
351.608 |
212.819 |
85.731 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
649.599 |
374.013 |
0.000 |
|
(b) Trade
payables |
15.634 |
4.882 |
0.033 |
|
(c) Other
current liabilities |
284.700 |
76.051 |
2.793 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
949.933 |
454.946 |
2.826 |
|
|
|
|
|
|
TOTAL |
1932.901 |
1024.301 |
138.557 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1729.054 |
23.176 |
11.810 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
703.621 |
40.418 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
22.500 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
4.544 |
2.329 |
0.075 |
|
(e) Other
Non-current assets |
1.074 |
87.725 |
21.554 |
|
Total Non-Current
Assets |
1757.172 |
816.851 |
73.857 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
53.651 |
19.785 |
0.000 |
|
(c) Trade
receivables |
0.803 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
67.848 |
51.374 |
13.651 |
|
(e)
Short-term loans and advances |
51.133 |
136.253 |
51.049 |
|
(f) Other
current assets |
2.294 |
0.038 |
0.000 |
|
Total
Current Assets |
175.729 |
207.450 |
64.700 |
|
|
|
|
|
|
TOTAL |
1932.901 |
1024.301 |
138.557 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
0.680 |
1.178 |
0.000 |
|
|
|
Other Income |
1.727 |
0.000 |
0.000 |
|
|
|
TOTAL |
2.407 |
1.178 |
0.000 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
55.193 |
0.370 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(31.659) |
0.000 |
0.000 |
|
|
|
Employee benefit expense |
9.613 |
17.221 |
4.942 |
|
|
|
Payment to auditors |
0.00 |
0.050 |
0.032 |
|
|
|
Other expenses |
13.860 |
27.965 |
4.263 |
|
|
|
TOTAL |
47.007 |
45.606 |
9.237 |
|
|
|
|
|
|
|
|
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
(44.600) |
(44.428) |
(9.237) |
||
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
(12.535) |
41.836 |
11.727 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(32.065) |
(86.264) |
(20.964) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
16.040 |
1.310 |
0.401 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
(48.105) |
(87.574) |
(21.365) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(48.105) |
(87.574) |
(21.365) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
(1.84) |
(27.54) |
(6.72) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(7074.26) |
(7434.13) |
0.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(1998.54) |
(7434.12) |
0.00 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.52) |
(27.31) |
(21.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.08) |
(0.25) |
(0.43) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.58 |
1.65 |
1.41 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.18 |
0.46 |
22.89 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR
in Mlns.) |
(INR
in Mlns.) |
(INR
in Mlns.) |
|
Share Capital |
31.800 |
31.800 |
679.465 |
|
Reserves & Surplus |
0.000 |
0.000 |
(48.105) |
|
Share Application money
pending allotment |
18.200 |
324.736 |
0.000 |
|
Net
worth |
50.000 |
356.536 |
631.360 |
|
|
|
|
|
|
long-term borrowings |
70.481 |
212.819 |
349.766 |
|
Short term borrowings |
0.000 |
374.013 |
649.599 |
|
Total
borrowings |
70.481 |
586.832 |
999.365 |
|
Debt/Equity
ratio |
1.410 |
1.646 |
1.583 |
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) |
|
Revenue from operations |
0.000 |
1.178 |
0.680 |
|
|
|
(42.275) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Revenue from operations |
0.000 |
1.178 |
0.680 |
|
Profit/(Loss) After Tax |
(21.365) |
(87.574) |
(48.105) |
|
|
(7434.13%) |
(7074.26%) |
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 |
------- |
|
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 |
FINANCIAL RESULTS
The financial performance
of the Company is summarized below:- Rs in Millions Particulars 31 Mar 2013
Total Income 2.407 Total Expenditure 23.671 Operating Profit (PBIDT) (21.264)
Interest 10.800 Depreciation and Amortisation 16.040 Profit / (Loss) before tax
(48.105) Profit / (Loss) after Tax* (48.105) Earnings Per Share.(face value of
Equity share of Rs.10/- each) Basic Diluted (1.84) (1.84) *There is no tax
obligation due to Net loss. Paid Up Equity Share Capital 6,794.65.
OPERATIONAL PERFORMANCE
They are glad to report
that the Company has constructed world class manufacturing facility near
Hyderabad, Andhra Pradesh with the state of the art latest equipment with a
total CAPEX cost of about Rs 1750.000 Millions. The Company manufactures high
quality Borosilicate Type 1 Glass Molded vials, Tube and Tubular vials and
Ampoules simultaneously. The Company has commenced its commercial production
effective from 15 February 2013, and made its first sale in March 2013. Hence,
previous year figures were not provided. The Company has posted a turnover of
Rs 0.680 Millions, other income of Rs 1.707 Millions, and made a Net loss of Rs
48.105 Millions after providing Rs 16.040 Millions for Depreciation and
Amortisation. The Directors are pleased to inform that the Company had achieved
manufacture of high quality product and also obtained the ISO certification
15378:2011 for GMP, and ISO 9001:2008 for quality system in short duration of
the product launch.
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
in Millions) |
31.03.2013 (Rs.
in Millions) |
|
SHORT TERM
BORROWINGS |
|
|
|
Deposits from others |
42.391 |
0.000 |
|
Other loans and advances, others |
604.422 |
374.013 |
|
Total |
646.813 |
374.013 |
INDEX CHARGES:
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10387163 |
14/02/2013 * |
1,469,500,000.00 |
STATE BANK OF
INDIA |
"OZONE",
2ND FLOOR, # 6-3-669, PUNJAGUTTA, MAIN |
B71726269 |
|
2 |
10384426 |
18/08/2010 |
34,400,000.00 |
STATE BANK OF
INDIA |
SAIFABAD (SIB)
BRANCH, HACA BHAVA, OPP : ASSEMBLY, HYDERABAD - 500004, ANDHRA PRADESH, INDIA |
B36518348 |
* Date of charge modification
FIXED ASSETS:
- Land
Development
- Plant and
Machinery
- Computers and
Accessories
- Electrical
Fitting
- Vehicles
- Furniture and
Fixture
- Office
Equipments
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.60.11 |
|
UK Pound |
1 |
Rs.102.32 |
|
Euro |
1 |
Rs.81.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.