MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
BHARAT WIRE ROPES LIMITED |
|
|
|
|
Formerly Known
As : |
BHARAT ROPES PRIVATE LIMITED |
|
|
|
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Registered
Office : |
701, A Wing, Trade World, Kamla City, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
24.07.1986 |
|
|
|
|
Com. Reg. No.: |
11-040468 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 293.967 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH1986PLC040468 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB07930G / MUMB13248E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCB2180N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Steel Wire Ropes. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
|
Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. There seems some dip in the turnover and profit of the company during 2013
however net worth of the company is satisfactory. General financial position
of the company is normal and acceptable for business dealing. Trade relations are reported as fair. Business is active. Payments
terms are reported to be slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
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 |
Long term bank facilities: “BBB-” |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
04.12.2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short term bank facilities: “A3” |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
04.12.2013 |
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. Hemant Agrawal |
|
Designation : |
Head in Finance |
|
Contact No.: |
91-22-66824662 |
|
Date : |
28.06.2014 |
LOCATIONS
|
Registered Office : |
701, A Wing, Trade World, Kamla City, Senapati Bapat Marg, Lower Parel
(West), Mumbai – 400013, Maharashtra, India |
|
Tel. No.: |
91-22-66824600/ 01/ 02/ 03/ 04/ 66824662 |
|
Fax No.: |
91-22-24955477 |
|
E-Mail : |
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|
Website : |
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|
Factory 1: |
Plot No. 1 and 4, Atgaon Industrial Complex, Mumbai-Nasik Highway, Atgaon (East), Taluka Shahapur, District Thane, Maharashtra, India |
|
Tel. No.: |
91-2527-240123/ 124 |
|
Fax No.: |
91-2527-240196 |
|
|
|
|
Factory 2: |
Near Bhandup, Sonapur, L.B.S. Marg, Bhandup (West), Mumbai – 400078, Maharashtra, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Sharwan Kumar Mittal |
|
Designation : |
Whole-time Director |
|
Address : |
H. No.14-518, W. No.11, Old Anaj Mandi, Jagadhari, Yamuna Nagar, Haryana – 135003, India |
|
Date of Birth/Age : |
26.08.1946 |
|
Qualification : |
MBBS |
|
Date of Appointment : |
30.06.2010 |
|
PAN No.: |
ABMPM1205E |
|
DIN No. : |
03126992 |
|
|
|
|
Name : |
Mr. Sushil Radheyshyam Sharda |
|
Designation : |
Whole-time Director |
|
Address : |
F-302, Sterling Court, Maheshwari Nagar, Marol, Andheri (East), Mumbai - 400093, Maharashtra, India |
|
Date of Birth/Age : |
01.02.1968 |
|
Qualification : |
Chartered Accountant |
|
Date of Appointment : |
02.05.2011 |
|
PAN No. : |
AKGPS9902H |
|
DIN No. : |
03117481 |
|
|
|
|
Name : |
Mr. Mayank Murarilal Mittal |
|
Designation : |
Whole-time Director |
|
Address : |
1601, Marathon Heights, Jai Bharat Oil Mill Compound, Mumbai – 400013, Maharashtra, India |
|
Date of Birth/Age : |
29.01.1986 |
|
Qualification : |
BSC & MBA |
|
Date of Appointment : |
30.06.2010 |
|
PAN No. : |
AKWPM8166H |
|
DIN No. : |
00127248 |
|
|
|
|
Name : |
Mr. Murarilal Ramsukh Mittal |
|
Designation : |
Managing Director |
|
Address : |
1601, Marathan Heights, Jai Bharat Oil Mill Compound, Mumbai - 400013, Maharashtra, India |
|
Date of Birth/Age : |
11.03.1958 |
|
Qualification : |
Chartered Accountants |
|
Date of Appointment : |
03.11.2010 |
|
DIN No. : |
00010689 |
|
|
|
|
Name : |
Mr. Balasubramanian Nagarajan |
|
Designation : |
Director |
|
Address : |
71, Belmonte Towers, Mogul Lane, Mahim (West), Mumbai – 400016, Maharashtra, India |
|
Date of Birth/Age : |
03.09.1946 |
|
Date of Appointment : |
15.11.2011 |
|
DIN No. : |
00288918 |
|
|
|
|
Name : |
Mr. Venkateswararao Kandikuppa |
|
Designation : |
Whole-time Director |
|
Address : |
B-1001, Riveria, Siddeshwar Gardens Dhokali-Kolshet Road, Thane (West) – 400607, Maharashtra, India |
|
Date of Birth/Age : |
01.06.1965 |
|
Qualification : |
Cost Accountant |
|
Date of Appointment : |
04.01.2013 |
|
DIN No. : |
06456698 |
|
|
|
|
Name : |
Mr. Sumit Kumar Modak |
|
Designation : |
Whole-time Director |
|
Address : |
GD - 284, Sector III, Salt Lake City, Kolkata – 700091, West Bengal, India |
|
Date of Birth/Age : |
10.05.1953 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
04.01.2013 |
|
PAN No. : |
ACQPM6279D |
|
DIN No. : |
00983527 |
KEY EXECUTIVES
|
Name : |
Mr. Hemant Agrawal |
|
Designation : |
Head in Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Sunderji M. Shah |
88970 |
|
Devchand M. Shah |
151470 |
|
Dinesh S. Shah |
102070 |
|
Sunderji M. Shah HUF |
539000 |
|
Devchand M.Shah HUF |
476500 |
|
Dinesh S.Shah HUF |
525900 |
|
Gaji Mercantile Private Limited, India |
25675484 |
|
Gyan Shankar Investment Private Limited, India |
1 |
|
M.L.Mittal Huf |
1 |
|
M.L.Mittal |
1 |
|
Mayank Mittal |
1 |
|
Usha Mittal |
1 |
|
Sushil R. Sharda |
1 |
|
Motilal Gopilal Oswal |
1837293 |
|
Total |
29396693 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
87.34 |
|
Other top fifty shareholders |
12.66 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Steel Wire Ropes. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· South Africa · Nepal · UAE |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
|
Suppliers : |
Jindal Steel and Power Limited |
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Customers : |
Retailers and End Users · Dolidar, Nepal |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· State Bank of Bikaner and Jaipur (Acting as Lead Bank of Consortium), Ground Floor, Welspun House, Kamla Mill Compound, Lower Parel, Mumbai - 400013, Maharashtra, India · Citibank N. A., Citibusiness Citigroup Centre, 2nd Floor, Bandra Kurla Complex, Bandra E, Mumbai - 400051, Maharashtra, India |
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Facilities : |
NOTE LONG TERM
BORROWINGS The Government of Maharashtra under Package Scheme of Incentive has extended to the Company, the incentive of sales tax deferral scheme pursuant to which the sales tax attributable to the sales effected out of production is deferred (interest free) for a period of 8 Years 9 Months from 01.05.2003 to 31.01.2012. The deferred sales tax in respect of above is based upon the sales tax returns. The above amount is repayable in five equal annual installments from the Financial Year 2020-21 to 2024-25. SHORT TERM
BORROWINGS Cash Credit0020(Working Capital facilities) from Banks are
secured by first charge of hypothecation of raw materials, finished goods in
process, stores and book debts of the Company and second charge on entire
immovable and movable fixed assets of the Company both present and future of
the Company. It is also secured by the personal guarantee of one of the
Director. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sureka Associates Chartered Accountants |
|
Address : |
34132, 45C, Mandhana Manor, Mogal Lane, Matunaga Road, (West), Mumbai – 400016, Maharashtra, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAMFS8201P |
|
|
|
|
Holding company : |
Gaji Mercantile Private Limited, India CIN No.: U51900MH2010PTC202821 |
|
|
|
|
Associate : |
Gyanshankar Investment and Trading Company Private Limited CIN No.: U67120MH1992PTC066758 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs.10/- each |
Rs. 300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
29,396,693 |
Equity Shares |
Rs.10/- each |
Rs. 293.967 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 |
293.967 |
293.967 |
125.594 |
|
(b) Reserves & Surplus |
398.855 |
412.591 |
161.542 |
|
(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) |
692.822 |
706.558 |
287.136 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term Borrowings |
263.298 |
319.031 |
213.737 |
|
(b) Deferred Tax Liabilities (Net) |
40.392 |
5.596 |
0.000 |
|
(c) Other Long Term
Liabilities |
1.650 |
0.000 |
0.000 |
|
(d) long-term
Provisions |
5.028 |
3.635 |
3.976 |
|
Total Non-current
Liabilities (3) |
310.368 |
328.262 |
217.713 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
214.074 |
229.801 |
261.661 |
|
(b) Trade
Payables |
175.755 |
95.806 |
260.020 |
|
(c) Other Current
Liabilities |
91.740 |
75.356 |
21.013 |
|
(d) Short-term
Provisions |
0.309 |
1.181 |
16.247 |
|
Total Current
Liabilities (4) |
481.878 |
402.144 |
558.941 |
|
|
|
|
|
|
TOTAL |
1485.068 |
1436.964 |
1063.790 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
678.696 |
606.213 |
215.137 |
|
(ii)
Intangible Assets |
19.951 |
19.951 |
19.951 |
|
(iii)
Capital Work-in-Progress |
49.291 |
70.248 |
2.805 |
|
(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 |
0.877 |
|
(d) Long-term Loan and Advances |
10.072 |
9.080 |
3.531 |
|
(e) Other Non-current
Assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
758.010 |
705.492 |
242.301 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
8.360 |
0.000 |
0.000 |
|
(b)
Inventories |
349.355 |
287.787 |
414.932 |
|
(c) Trade
Receivables |
205.646 |
220.314 |
251.793 |
|
(d) Cash
and Cash Equivalents |
84.013 |
125.773 |
35.230 |
|
(e)
Short-term Loans and Advances |
16.047 |
32.589 |
16.911 |
|
(f) Other
Current Assets |
63.637 |
65.009 |
102.623 |
|
Total
Current Assets |
727.058 |
731.472 |
821.489 |
|
|
|
|
|
|
TOTAL |
1485.068 |
1436.964 |
1063.790 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
730.712 |
767.149 |
768.396 |
|
|
|
Other Income |
15.373 |
5.000 |
3.685 |
|
|
|
TOTAL (A) |
746.085 |
772.149 |
772.081 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
393.680 |
429.089 |
686.763 |
|
|
|
Purchases of Stock-in-Trade |
145.467 |
14.440 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
(54.939) |
75.038 |
(170.346) |
|
|
|
Employees benefits expense |
62.623 |
59.815 |
41.288 |
|
|
|
Other expenses |
108.574 |
107.360 |
155.495 |
|
|
|
TOTAL (B) |
655.405 |
685.742 |
713.200 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
90.680 |
86.407 |
58.881 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
47.225 |
41.000 |
21.595 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
43.455 |
45.407 |
37.286 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
21.798 |
15.280 |
11.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
21.657 |
30.127 |
26.166 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
8.862 |
10.654 |
1.855 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
12.795 |
19.473 |
24.311 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
137.084 |
83.029 |
61.188 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
82.055 |
96.760 |
267.017 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
0.44 |
1.51 |
1.94 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
820.000 |
|
|
|
|
|
The above information has been parted by Mr. Hemant Agrawal (HD in
Finance).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.71 |
2.52 |
3.15 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.96 |
3.93 |
3.41 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.51 |
2.20 |
2.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.04 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.69 |
0.78 |
1.66 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51 |
1.82 |
1.47 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
125.594 |
293.967 |
293.967 |
|
Reserves & Surplus |
161.542 |
412.591 |
398.855 |
|
Net
worth |
287.136 |
706.558 |
692.822 |
|
|
|
|
|
|
long-term borrowings |
213.737 |
319.031 |
263.298 |
|
Short term borrowings |
261.661 |
229.801 |
214.074 |
|
Total
borrowings |
475.398 |
548.832 |
477.372 |
|
Debt/Equity
ratio |
1.656 |
0.777 |
0.689 |
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 |
768.396 |
767.149 |
730.712 |
|
|
|
(0.162) |
(4.750) |
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 |
768.396 |
767.149 |
730.712 |
|
Profit |
24.311 |
19.473 |
12.795 |
|
|
3.16% |
2.54% |
1.75% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG TERM DEBTS
|
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. |
66.800 |
50.100 |
0.000 |
|
|
|
|
|
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
four years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
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 |
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 |
10256820 |
29/06/2012 * |
750,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR (ACTING AS LEAD B |
GR. FLOOR, WELSPUN HOUSE, KAMLA MILL COMPOUND, LOWER PAREL, MUMBAI, MAHARASHTRA - 400013, INDIA |
B43773738 |
|
2 |
10256821 |
04/11/2010 |
200,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR |
COMMERCIAL NET WORK BRANCH 239, P.D.'MELLO ROAD, |
A99666596 |
|
3 |
10239826 |
10/05/2012 * |
550,000,000.00 |
STATE BANK OF BIKANER AND JAIPUR (ACTING AS LEAD BANK OF CONSORTIUM) |
GR. FLOOR, WELSPUN HOUSE, KAMLA MILL COMPOUND, LOWER PAREL, MUMBAI, MAHARASHTRA - 400013, INDIA |
B40612764 |
* Date of charge modification
UNSECURED LOANS
|
Unsecured Loans |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
|
|
|
|
Total |
|
|
CHANGE OF ADDRESS
The registered office of the company has been shifted from Nirmal Lifestyle (Corporate Office Building), 5th Floor, Office No.524, Mulund (West), Mumbai – 400080, Maharashtra, India to the present address w.e.f. 22.05.2012.
OPERATIONS:
Overall performance of the company has been satisfactory during the year. Sales decreased marginally on account of labor unrest and market conditions. The net profit of the company is 12.795 Millions during 2012-13 which reduced mainly on account of increase in cost of Raw material and above mentioned reasons.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Performance Guarantees/Bid Bond given by banks to company's customers / government authorities etc. |
43.130 |
44.532 |
|
Disputed Income Tax |
4.084 |
1.327 |
|
Total |
47.214 |
45.859 |
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Computer Equipment’s
· Other Equipment’s
Intangible Assets
· Goodwill
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.60.10 |
|
|
1 |
Rs.102.40 |
|
Euro |
1 |
Rs.81.88 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
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 |
|
42 |
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.