MIRA INFORM REPORT
|
Report Date : |
30.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
NET MATRIX LIMITED |
|
|
|
|
Registered
Office : |
Plot No. C-7, H. No. 8-3-222/C/31, Madhuranagar, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
22.03.2000 |
|
|
|
|
Com. Reg. No.: |
01-033959 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 124.846 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72200AP2000PLC033959 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDN01581G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCN3529P |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacture of Crop Protection Chemicals / Insecticides. |
|
|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1200000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company appears to be decent. General financial
position of the company appears to be sound and healthy. Trade relations are reported as fair. Business is active. Payments are
usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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 |
ICRA |
|
Rating |
Fund Based Limits = BBB- |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk |
|
Date |
March 2013 |
|
Rating Agency Name |
ICRA |
|
Rating |
Non-Fund Based Limits = A3 |
|
Rating Explanation |
Moderate degree of safety and higher credit risk |
|
Date |
March 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 DECLINED BY
|
Name : |
Mr. M.M. Prabhakar |
|
Designation : |
Finance Manager |
LOCATIONS
|
Registered Office : |
Plot No. C-7, H. No. 8-3-222/C/31, Madhuranagar, |
|
Tel. No.: |
91-40-23830956 / 57 |
|
Fax No.: |
91-40-23830958 |
|
E-Mail : |
|
|
Website : |
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|
|
|
Administrative office : |
Flat No. 101, Madhavi Enclave, Motinagar ‘X’ Roads, |
|
Tel. No. : |
91-40-23830956/23830957 |
|
Fax No. : |
91-40-23830958 |
|
Email : |
|
|
|
|
|
Factory 1 : |
C77/524, C-78/525 and C-65/551, 100 Shed Area, GIDC, Silvasa Road, Vapi –396195, Gujarat, India |
|
Tel. No. : |
91-260 - 2452544 |
|
|
|
|
Factory 2 : |
Plot No 15 and 15A, Villages : Dibbapalem and Krishnampalem, Mandals : Achutapuram and Rambilli, Visakhapatnam District – 531 011, Andhra Pradesh, India |
|
Tel. No. : |
91-891 – 24206022 |
|
Fax No. : |
91-891 – 24206033 |
DIRECTORS
As on 28.09.2013
|
Name : |
Mr. Botlaguduru Chandra Sekhar |
|
Designation : |
Managing Director |
|
Address : |
Plot No. C-7, H. No. 8-3-222/C/31, Madhuranagar, |
|
Date of Birth/Age : |
31.10.1962 |
|
Date of Appointment : |
22.03.2000 |
|
DIN No.: |
01270212 |
|
PAN No.: |
AATPB3763G |
|
|
|
|
Name : |
Mr. Madanagopala Sharma Kuppa |
|
Designation : |
Managing Director |
|
Address : |
3 – 147 Narasimha Reddy Nagar, Malkaigir, Hyderabad – 500047, Andhra
Pradesh, India |
|
Date of Birth/Age : |
21.07.1953 |
|
Date of Appointment : |
12.09.2003 |
|
DIN No.: |
01270297 |
|
PAN No.: |
ABCPK7925R |
|
|
|
|
Name : |
Mr. Putta Veeraraghukula Sekhar |
|
Designation : |
Director |
|
Address : |
Flat No. 101, Devislaksh Mivihar Apartments, Madhura Nagar, |
|
Date of Birth/Age : |
02.07.1962 |
|
Date of Appointment : |
12.09.2003 |
|
DIN No.: |
01270301 |
|
|
|
|
Name : |
Mr. Shailesh Gangakhedkar |
|
Designation : |
Director |
|
Address : |
3-6-462/ To 3/402, |
|
Date of Birth/Age : |
01.02.1963 |
|
Date of Appointment : |
10.04.2009 |
|
DIN No.: |
02690306 |
|
|
|
|
Name : |
Mr. Villadath Harish Kumar |
|
Designation : |
Director |
|
Address : |
F No.303, Vineyardwhite Line Apartments, Defence Colony, Sainikpuri –
500094, Andhra Pradesh, India |
|
Date of Birth/Age : |
30.11.1966 |
|
Date of Appointment : |
01.03.2010 |
|
DIN No.: |
00887484 |
|
|
|
|
Name : |
Mr. Atyam Naresh Mohan |
|
Designation : |
Director |
|
Address : |
B-19, Samata Bldg., SH Ree Nagar, Wagle Estate, Thane – 400604, |
|
Date of Birth/Age : |
11.10.1950 |
|
Date of Appointment : |
01.09.2010 |
|
DIN No.: |
03250043 |
|
|
|
|
Name : |
Mr. Krishnapuram Subbarao Raghuveer |
|
Designation : |
Director |
|
Address : |
2nd Floor, Ayesha Manzil, 45, TPS 46th Road,
Mumbai – 400050, Maharashtra, Indi |
|
Date of Birth/Age : |
30.01.1953 |
|
Date of Appointment : |
07.01.2012 |
|
DIN No.: |
01985786 |
|
|
|
|
Name : |
Mr. Hemnath Rao Hanumankar |
|
Designation : |
Director |
|
Address : |
H No. 02, 2-647/7/6 and 7, SBI of Ficers Colony, Amberpet, Hyderabad –
500013, Andhra Pradesh, India |
|
Date of Birth/Age : |
01.05.1960 |
|
Date of Appointment : |
07.01.2012 |
|
DIN No.: |
05129778 |
|
|
|
|
Name : |
Mr. Deepak Bidi |
|
Designation : |
Director |
|
Address : |
Flat No. 203, Sita Towers, 3-6-681, ST 10, Himayat Nagar, Hyderabad –
500029, Andhra Pradesh, India |
|
Date of Birth/Age : |
30.10.1960 |
|
Date of Appointment : |
07.01.2012 |
|
DIN No.: |
05131125 |
|
|
|
|
Name : |
Mr. Lakshmi Narayana Vuduta |
|
Designation : |
Director |
|
Address : |
Flat No.301, PNo.135, Prabhamansion, Kalyanagar, Hyderabad – 500038,
Andhra Pradesh, India |
|
Date of Birth/Age : |
20.06.1964 |
|
Date of Appointment : |
07.01.2012 |
|
DIN No.: |
05135745 |
KEY EXECUTIVES
|
Name : |
Mr. Dheeraj Satyanarayan Bohra |
|
Designation : |
Secretary |
|
Address : |
3-4-226/6, 3rd Floor, St 1, Baghlingampally Near Kachiguda
Jain Temple, Hyderabad – 500028, Andhra Pradesh, India |
|
Date of Birth/Age : |
16.03.1982 |
|
Date of Appointment : |
19.11.2012 |
|
PAN No.: |
ANVPB4029L |
|
|
|
|
Name : |
Mr. M.M. Prabhakar |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
0.72 |
|
Directors or relatives of Directors |
75.61 |
|
Other top fifty shareholders |
23.67 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Crop Protection Chemicals / Insecticides. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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||||||||||||||||||||||||
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Facilities : |
(Rs.
In Millions)
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajesh Lakshman and Associates Chartered Accountants |
|
Address : |
302, 3rd Floor, Brindavan Commercial Complex, |
|
PAN No.: |
AADFR0763L |
CAPITAL STRUCTURE
As on 28.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12484554 |
Equity Shares |
Rs.10/- each |
Rs.124.846 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 |
124.846 |
124.846 |
124.846 |
|
(b) Reserves & Surplus |
187.621 |
134.758 |
31.002 |
|
(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) |
312.467 |
259.604 |
155.848 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
371.724 |
15.840 |
12.176 |
|
(b) Deferred tax liabilities (Net) |
20.768 |
12.528 |
6.372 |
|
(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) |
392.492 |
28.368 |
18.548 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
52.624 |
37.305 |
27.189 |
|
(b) Trade
payables |
134.085 |
102.915 |
76.158 |
|
(c) Other
current liabilities |
25.737 |
27.173 |
14.263 |
|
(d) Short-term
provisions |
9.847 |
20.925 |
1.041 |
|
Total Current
Liabilities (4) |
222.293 |
188.318 |
118.651 |
|
|
|
|
|
|
TOTAL |
927.252 |
476.290 |
293.047 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
208.945 |
164.225 |
126.642 |
|
(ii)
Intangible Assets |
0.000 |
1.488 |
3.010 |
|
(iii)
Capital work-in-progress |
266.732 |
44.786 |
11.136 |
|
(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 |
134.933 |
31.290 |
4.200 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
610.610 |
241.789 |
144.988 |
|
|
|
|
|
|
(2) Current
assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
77.536 |
39.524 |
22.886 |
|
(c) Trade
receivables |
178.419 |
152.151 |
76.429 |
|
(d) Cash
and cash equivalents |
20.914 |
10.395 |
15.449 |
|
(e) Short-term
loans and advances |
39.773 |
32.431 |
33.295 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
316.642 |
234.501 |
148.059 |
|
|
|
|
|
|
TOTAL |
927.252 |
476.290 |
293.047 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
688.569 |
758.537 |
555.483 |
|
|
|
Other Income |
12.017 |
19.440 |
10.051 |
|
|
|
TOTAL (A) |
700.586 |
777.977 |
565.534 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
502.754 |
506.097 |
439.815 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(29.770) |
(24.705) |
0.921 |
|
|
|
Employee benefit expense |
41.167 |
39.247 |
26.748 |
|
|
|
Other expenses |
77.723 |
78.529 |
65.110 |
|
|
|
TOTAL (B) |
591.874 |
599.168 |
532.594 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
108.712 |
178.809 |
32.940 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.435 |
6.349 |
5.597 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.277 |
172.460 |
27.343 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
7.869 |
5.231 |
4.876 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
89.408 |
167.229 |
22.467 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
29.291 |
56.218 |
7.223 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
60.117 |
111.011 |
15.244 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
134.498 |
30.741 |
98.727 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
83.230 |
|
|
|
Dividend |
6.242 |
6.242 |
0.000 |
|
|
|
Tax on Dividend |
1.012 |
1.012 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
187.361 |
134.498 |
30.741 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Direct Export |
303.801 |
224.046 |
187.814 |
|
|
|
Deemed Exports |
100.218 |
222.099 |
169.667 |
|
|
TOTAL EARNINGS |
404.019 |
446.145 |
357.481 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.82 |
8.89 |
2.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
8.58
|
14.27 |
2.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
12.98
|
22.05 |
4.04 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
13.54
|
38.75 |
7.97 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.64 |
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.36
|
0.20 |
0.25 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.42
|
1.25 |
1.25 |
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 |
124.846 |
124.846 |
124.846 |
|
Reserves & Surplus |
31.002 |
134.758 |
187.621 |
|
Net
worth |
155.848 |
259.604 |
312.467 |
|
|
|
|
|
|
long-term borrowings |
12.176 |
15.840 |
371.724 |
|
Short term borrowings |
27.189 |
37.305 |
52.624 |
|
Total
borrowings |
39.365 |
53.145 |
424.348 |
|
Debt/Equity
ratio |
0.253 |
0.205 |
1.358 |
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 |
555.483 |
758.537 |
688.569 |
|
|
|
36.554 |
-9.224 |
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 |
555.483 |
758.537 |
688.569 |
|
Profit |
15.244 |
111.011 |
60.117 |
|
|
2.74% |
14.63% |
8.73% |
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 |
No |
|
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 |
Note
The registered office address of the company has been shifted from 216,
Lingapur Building, Himayath Nagar, Hyderabad – 500029, Andhra Pradesh, India to
present address w.e.f. 15.05.2007
FINANCIAL
PERFORMANCE:
During the year, the net sales decreased from Rs. 777.977 Millions in the previous year to Rs. 700.586 Millions. The Company's profit before tax during the year decreased to Rs. 89.408 Millions from Rs. 167.229 Millions in the previous year. The Profit after tax stood at Rs. 60.117 Millions as compared to Rs. 111.011 Millions in the previous year.
This is mainly on account of decrease in sale of products due to production loss on account of Annual maintenance shutdown, Capital P and M equipments additions and also due to increase in borrowing costs in respect of loans from SBI, grant of extended credit period to the customers. Apart from this, negative trends in global markets, Inappropriate Industrial and Commerce policies, Inflation and foreign exchange fluctuations also contribute towards decrease in sales.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long Term
Borrowings |
|
|
|
Term Loan From Banks |
4.917 |
1.484 |
|
Term Loan From Other Parties |
6.598 |
0.000 |
|
Short Term
Borrowings |
|
|
|
Loans and advances from related parties |
2.100 |
37.305 |
|
Total |
13.615 |
38.789 |
|
Term Loan - Un Secured comprises of Business Loans as well
as Corporate Loans. |
||
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10290697 |
11/05/2012 * |
420,000,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, # 43-29-54, 1ST FLOOR, BALAJI |
B39382536 |
* Date of charge modification
FIXED ASSETS
- Buildings
- Plant and equipment
- Factory equipments
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
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 : |
SVA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.