MIRA
INFORM REPORT
|
Report Date : |
01.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOUNDARARAJA MILLS LIMITED (w.e.f. 07.10.1967) |
|
|
|
|
Formerly Known
As : |
SOUNDARARAJA MILLS PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
11.06.1937 |
|
|
|
|
Com. Reg. No.: |
18-014821 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.9.693
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17111TZ1937PLC014821 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHES00305E/ CHES16772A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACS8799R |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers and Exporters of Synthetic and Cotton Yarn. |
|
|
|
|
No. of Employees
: |
1500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2900000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Exist |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. The company has recovered its financial losses and it has achieved
fair profitability from its operational activities during the financial year
2013. Trade relations are fair. Business is active. Payment terms are
reported to be slow but 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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
The worst is over for India’s economy with gross domestic product likely
to expand 5 %to 5.5 % this year and more than 6 % in 2015, according to Moody’s
Analytics. Concerns over the rupee and current account deficit are under
control, said the agency. Ratings firm Crisil has forecast 6 % growth for
2014/15 up from the estimated 4.8 % for 2013/14. Total economic growth,
infrastructure bottlenecks and lack of transparency and consistency in foreign
direct investment policies seem to have taken a toll on India’s attractiveness
as an investment destination, says an Ernst & Young survey. Projects
with FDI component fell 16.4 % across the globe in 2012 from the previous
year. The drop in India was steeper at 21 %. State run carrier Air India
is doling out free tickets to its 24000 employees, even as it expects to incur
a loss of Rs.39000 mn this financial year and has a debt of Rs 350000 mn.
550000 number of jobs generated across India in 2013, a fall of 0.4 % as
compared to with a year earlier. The National Capital Region has a
one-fourth share in total jobs created, according to a study by industry lobby
group Assochem, Banks, real estate, automobile and telecommunications sectors
are showing a rise of job creation. $ 805 mn investments by venture capital
firms in India during 2013, registering a drop of about 18 % over the previous
year. The Information Technology and IT-Enabled Services Industry retained
its status as the favourable venture capital investors in 2013. Pakistan has
temporarily banned gold imports for the second time in six months, as it tries
to stem smuggling into India. India’s import duty on gold is 10 % and curbs on
purchases have dried up legal imports into what used to be the world’s biggest
bullion buyers. The World Gold Council puts the amount smuggled into India at
upto 200 tonnes in 2013. The Reserve Bank of India has proposed that unclaimed
bank deposits estimated to be about Rs.35000 mn be used for education and
awareness among depositors. According to the plan, deposits that have not
been claimed for at least 10 years will be transferred to the scheme.
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. Subramanium |
|
Designation : |
General Manager |
|
Contact No.: |
91-9842205038 |
|
Date : |
01.03.2014 |
LOCATIONS
|
Registered/ Administrative/ Corporate Office : |
|
|
Tel. No.: |
91-451-2430104/
2430105 |
|
Mobile No.: |
91-9842205038 (Mr. Subramanium) |
|
Fax No.: |
91-451-2430593 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
|
|
Tel. No.: |
91-451-2470067 |
|
Fax No.: |
91-451-2471407 |
|
|
|
|
Factory 2 : |
Kamarajar Salai, Nedungadu - 609603, |
|
Tel. No.: |
91-4368-261293/ 261284 |
|
Fax No.: |
91-4368-261519 |
|
|
|
|
Factory 3 : |
Nillakottai Taluk, Dindigul District, Siddargalnatham – 624219, |
DIRECTORS
(AS ON 15.06.2013)
|
Name : |
Mr. Soundarajan Ranjit |
|
Designation : |
Managing Director |
|
Address : |
36 Vijayashree, Arch Bishop Avenue, Chennai-600028, Tamilnadu, India |
|
Date of Birth/Age : |
16.07.1963 |
|
Qualification : |
M.S.A.S.(USA) |
|
Date of Appointment : |
01.07.1985 |
|
DIN No.: |
00307132 |
|
|
|
|
Name : |
Mr. Narayanaraja Muralidharan |
|
Designation : |
Director |
|
Address : |
19 A Kasimalli, Dindigul-624003, Tamilnadu, India |
|
Date of Birth/Age : |
09.05.1959 |
|
Qualification : |
D.T.T. |
|
Date of Appointment : |
30.04.2006 |
|
PAN No.: |
ACMPM4302P |
|
DIN No.: |
00391413 |
|
|
|
|
Name : |
Mr. Ranjit Soundarajan Sangeetha |
|
Designation : |
Whole-time Director |
|
Address : |
Lakshmi Soundara, G T N Salai, Dindigul District-624005, Tamilnadu, India |
|
Date of Birth/Age : |
09/11/1966 |
|
Qualification : |
BBA |
|
Date of Appointment : |
18.02.2008 |
|
PAN No.: |
AACPR6741F |
|
DIN No.: |
02186527 |
|
|
|
|
Name : |
Mr. Venkattramnaidu Athinarayanasamy |
|
Designation : |
Executive Director |
|
Address : |
Old-17, New-25, Krishnarao, Second St. Dindigul-624001, Tamilandu, India |
|
Date of Birth/Age : |
08.03.1958 |
|
Qualification : |
B.COM. |
|
Date of Appointment : |
24.06.2010 |
|
PAN No.: |
AFEPA7549D |
|
DIN No.: |
03136026 |
|
|
|
|
Name : |
Mr. Kiran Ranjit Soundarajan |
|
Designation : |
Director |
|
Address : |
Lakshmi Soundra, G.T.N Salai, B.K Puram, Dindigul-624005, Tamilnadu, India |
|
Date of Birth/Age : |
08.08.1988 |
|
Date of Appointment : |
24.06.2010 |
|
PAN No.: |
ATCPK3466D |
|
DIN No.: |
03164195 |
KEY EXECUTIVES
|
Name : |
Mr. Subramanium |
|
Designation : |
General Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 15.06.2013)
SHAREHOLDING DETAILS FILE ATTACHED.
(AS ON 15.06.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
18.00 |
|
Directors or relatives of Directors |
|
71.00 |
|
Others |
|
11.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Synthetic and Cotton Yarn. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
1500 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India SME Branch, No.1 Salai Road, Dindigul – 624001, Tamil Nadu, India State Bank of
Mysore Chennai Main Branch, 231 NSC Bose Road, Chennai -
600001, Tamilnadu, India · IDBI Bank Limited 3, West Market Street, Madurai – 625001, Tamilnadu,
India · State Bank of Hyderabad Industrial Finance Branch, 45, II Line Beach, I Floor, Chennai – 600001, Tamilnadu, India · Syndicate Bank Dindigul Nagal Nagar Branch, Nagal Nagar, Dindigul – 624003, Tamilnadu, India Corporate Bank Industrial Finance Branch, Trichy Road, Coimbatore – 641018, Tamilnadu, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N Balavenkatesan Chartered Accountants |
|
Address : |
91/31, New Agraharam, Palani Road, Dindigul, Tamilnadu, India |
|
PAN No.: |
ABEPB3151A |
|
|
|
|
Associates : |
· Soundararaja Textiles Company, India K and Y
Enterprises Private Limited, India Soundararaja
and Company, India |
|
|
|
|
Other Related Parties
: |
· Vijayashree Spinning Mills Limited # # The balance due to Vijashree Spinning Mills Limited is yet to be reconciled / confirmed for want of relevant information from Vijayashree Spinning Mills Limited. |
CAPITAL STRUCTURE
(AS ON 15.06.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
969336 |
Equity Shares |
Rs.10/- each |
Rs.9.693
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 |
9.693 |
9.693 |
9.693 |
|
(b) Reserves & Surplus |
724.170 |
705.037 |
706.420 |
|
(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) |
733.863 |
714.730 |
716.113 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
191.986 |
197.162 |
417.070 |
|
(b) Deferred tax liabilities (Net) |
63.305 |
80.402 |
76.856 |
|
(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) |
255.291 |
277.564 |
493.926 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
222.288 |
245.161 |
112.945 |
|
(b) Trade payables |
60.380 |
19.916 |
59.476 |
|
(c) Other current
liabilities |
124.159 |
152.821 |
146.741 |
|
(d) Short-term provisions |
12.564 |
8.641 |
8.010 |
|
Total Current Liabilities (4) |
419.391 |
426.539 |
327.172 |
|
|
|
|
|
|
TOTAL |
1408.545 |
1418.833 |
1537.211 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
751.125 |
797.868 |
850.665 |
|
(ii) Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.458 |
0.458 |
0.458 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
178.887 |
150.350 |
122.063 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
930.470 |
948.676 |
973.186 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
429.356 |
393.909 |
481.897 |
|
(c) Trade receivables |
41.420 |
56.188 |
56.625 |
|
(d) Cash and cash
equivalents |
7.299 |
20.060 |
25.503 |
|
(e) Short-term loans and
advances |
0.000 |
0.000 |
0.000 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
478.075 |
470.157 |
564.025 |
|
|
|
|
|
|
TOTAL |
1408.545 |
1418.833 |
1537.211 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
950.393 |
991.485 |
1375.464 |
|
|
|
Other Income |
4.815 |
7.909 |
6.177 |
|
|
|
TOTAL (A) |
955.208 |
999.394 |
1381.641 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
460.151 |
481.608 |
611.894 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(7.737) |
67.026 |
256.161 |
|
|
|
Employee benefit expense |
89.462 |
72.152 |
73.997 |
|
|
|
Other expenses |
300.286 |
241.807 |
274.927 |
|
|
|
TOTAL (B) |
842.162 |
862.593 |
1216.979 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
113.046 |
136.801 |
164.662 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
63.073 |
81.329 |
102.473 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
49.973 |
55.472 |
62.189 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
47.359 |
53.309 |
59.075 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
2.614 |
2.163 |
3.114 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(16.517) |
3.546 |
0.629 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
19.131 |
(1.383) |
2.485 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(224.896) |
(223.513) |
(225.997) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(205.765) |
(224.896) |
(223.513) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
20.228 |
151.088 |
146.361 |
|
|
TOTAL EARNINGS |
20.228 |
151.088 |
146.361 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.74 |
(737.34) |
2.56 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.00
|
(0.14)
|
0.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.28
|
0.22
|
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.19
|
0.15
|
0.20 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00
|
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.56
|
0.62
|
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.14
|
1.10
|
1.72 |
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 |
9.693 |
9.693 |
9.693 |
|
Reserves & Surplus |
706.420 |
705.037 |
724.170 |
|
Net worth |
716.113 |
714.730 |
733.863 |
|
|
|
|
|
|
long-term borrowings |
417.070 |
197.162 |
191.986 |
|
Short term borrowings |
112.945 |
245.161 |
222.288 |
|
Total borrowings |
530.015 |
442.323 |
414.274 |
|
Debt/Equity ratio |
0.740 |
0.619 |
0.565 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Sales |
1,375.464 |
991.485 |
950.393 |
|
|
|
-27.916 |
-4.144 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR) |
(INR) |
(INR) |
|
Sales |
1,375.464 |
991.485 |
950.393 |
|
Profit |
2.485 |
-1.383 |
19.131 |
|
|
0.18% |
-0.14% |
2.01% |
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 |
Yes |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
------------------------------------------------------------------------------------------------------------------------------
CHENNAI COURT
CASE STATUS
INFORMATION SYSTEMS
|
Case Status |
Pending |
|
Status of: |
Application |
|
Case No.: |
5191 |
|
Year: |
2012 |
|
Petitioner: |
Clarion Wind Farm Private |
|
Pet’s Advocate: |
Soundararaja Mills Limited |
|
Res’s Advocate: |
S. A. R. Ramanathan |
|
Category |
S. J. Ramakrishnan |
|
|
Section 9 |
|
|
Last Listed on: No Date Mentioned |
|
Case Updated on : |
Jul 31, 2013 |
------------------------------------------------------------------------------------------------------------------------------
UNSECURED LOANS
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term Borrowing |
|
|
|
Deposit from directors |
40.392 |
18.426 |
|
Deposit from Shareholders |
2.122 |
7.876 |
|
Public deposits |
11.242 |
0.000 |
|
Short term
Borrowing |
|
|
|
Public deposits |
0.166 |
25.475 |
|
|
|
|
|
Total |
53.922 |
51.777 |
NOTE:
The Registered office of the company has been
shifted from No.8, Old No.36-A, B M Avenue, Chennai – 600028, Tamilnadu, India
to the present address w.e.f. 05.09.2008.
REVIEW
OF OPERATIONS:
The
spinning industry in India took a breather during the current financial year
2012-13. While there was reasonable supplies, domestic and international demand ensured reasonable prices. However the incessant
power outages coupled with all round increase in cost of raw materials,
escalated the cost beyond proportions. The demand from overseas buyers was
priced at lowest prices on account of increased supply of yarn in the domestic
front and lack of demand from domestic industry. The Company was able to achieve
reasonable sales when compared to earlier year. The increase cost of inputs
impacted the operational profits seriously. The repayment of debt obligations
resulted in lower financial cost which ultimately resulted in slightly better
profits when compared to earlier year. The Company hopes to achieve improved
performance in years ahead.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
Letter of Credit |
8.455 |
7.411 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10135390 |
30/10/2007 |
9,200,000.00 |
INDIAN OVERSEAS BANK
LIMITED |
17 THADICOMBU ROAD, CHENNAI,
TAMIL NADU - 624008, |
A42003830 |
|
2 |
10035517 |
12/06/2009 * |
250,000,000.00 |
UCO BANK |
T. NAGAR MID CORPORPORATE
BRANCH, NO.67, BURKIT R |
A66948126 |
|
3 |
10034102 |
10/03/2007 * |
100,000,000.00 |
BHARAT OVERSEAS BANK
LIMITED |
17 THADICOMBU ROAD,
DINDIGUL, TAMIL NADU - 624008, |
A41994195 |
|
4 |
10023962 |
05/02/2010 * |
70,000,000.00 |
CORPORATION BANK |
INDUSTRIAL FINANACE BRANCH,
TRICHY ROAD, COIMBATORE, TAMIL NADU - 641018, INDIA |
A78638095 |
|
5 |
90297959 |
14/05/2004 |
30,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE
CIRCLE, VADODARA, TAMILNADU - 390007, INDIA |
- |
|
6 |
90297163 |
24/06/2010 * |
100,000,000.00 |
IDBI BANK LIMITED |
3 WEST MARRET STREET,
MADURAI, TAMIL NADU - 625001 |
A92340959 |
|
7 |
90297932 |
10/06/2005 * |
80,000,000.00 |
IDBI BANK LTD. |
1/1; VINAYAGA NAGAR,
MELUR ROAD, MADURAI, TAMIL NADU - 625020, INDIA |
- |
|
8 |
90297926 |
21/11/2003 * |
170,000,000.00 |
ICICI BANK LIMITED |
LANDMARK, RACE COURSE
CIRCLE, VADODARA, GUJARAT - |
- |
|
9 |
90297129 |
21/12/2001 |
6,800,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
81; PNESIONER STREET, DINDIGUL,
TAMIL NADU - 624001, INDIA |
- |
|
10 |
90290280 |
30/01/2008 * |
806,335,000.00 |
LAKSHMI VILAS BANK
LIMITED |
SALEM ROAD
KATHAPARAI,KARUR,, KARUR, TAMILNADU, TAMIL NADU - 639006, INDIA |
A38525143 |
|
11 |
90297127 |
10/05/2005 * |
152,900,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
P. N. TOWERS, PNESIONER
STREET, DINDIGUL, TAMIL NADU - 624001, INDIA |
- |
|
12 |
90297750 |
21/01/2004 * |
72,000,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
81; PENSIONER STREET,
DINDIGUL, TAMIL NADU - 6240 |
- |
|
13 |
90296997 |
21/05/1997 |
30,070,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
PNESIONER STREET,
DINDIGUL, TAMIL NADU - 624001, I |
- |
|
14 |
90297722 |
25/04/1997 |
9,000,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
PENSIONER STREET, DINDIGUL,
TAMIL NADU - 624001, I |
- |
|
15 |
90297712 |
09/01/1997 |
10,000,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
P. N. TOWERS;, PENSIONER
STREET, DINDIGUL, TAMIL |
- |
|
16 |
90297640 |
20/10/1994 |
17,000,000.00 |
STATE BANK OF INDIA |
SALAI ROAD, DINDIGUL,
TAMIL NADU - 624001, INDIA |
- |
|
17 |
90297638 |
08/06/1995 * |
11,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMDNT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
18 |
90297604 |
20/04/1994 * |
30,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMENT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
19 |
90297590 |
08/06/1993 * |
30,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMENT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
20 |
90297567 |
28/10/1992 * |
15,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMDNT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
21 |
90297565 |
19/04/1993 * |
15,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMENT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
22 |
90297529 |
19/04/1993 * |
20,000,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMDNT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
23 |
90297521 |
09/01/1991 |
9,350,000.00 |
THE INDUSTRIAL CREDIT AND
INVESTMDNT CORPN. OF IND |
163; BACKBAY RECLAMATION,
BOMBAY, MAHARASHTRA - 400020, INDIA |
- |
|
24 |
90297480 |
14/03/1989 |
2,500,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
DINDIGUL, DINDIGUL, TAMIL
NADU - 624001, INDIA |
- |
|
25 |
90297479 |
09/03/1989 |
10,000,000.00 |
STATE BANK OF INDIA |
DINDIGUL, DINDIGUL, TAMIL
NADU, INDIA |
- |
|
26 |
90296775 |
18/06/1988 |
7,000,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
DINDIGUAL, DINDIGUL,
TAMIL NADU - 624001, INDIA |
- |
|
27 |
90297455 |
11/06/2005 * |
72,000,000.00 |
THE LAKSHMI VILAS BANK
LTD. |
P. N. TOWERS;, PENSIONER
STREET, DINDIGUL, TAMIL |
- |
|
28 |
90296770 |
03/02/1988 |
5,450,000.00 |
STANDARD CHARTERED BANK |
MADRAS, MADRAS, TAMIL
NADU, INDIA |
- |
|
29 |
90297440 |
09/12/2011 * |
392,300,000.00 |
STATE BANK OF INDIA |
SME BRANCH, NO 1 SALAI
ROAD, DINDIGUL, TAMIL NADU |
B30484414 |
* Date of charge modification
FIXED ASSETS:
· Land (Freehold)
· Buildings
· Plant and Machinery
· Electrical Machinery
· Furniture and Fittings
· Vehicles
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.62.07 |
|
|
1 |
Rs.103.61 |
|
Euro |
1 |
Rs.85.03 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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.