MIRA INFORM REPORT
|
Report Date : |
06.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
K K NAG LIMITED (w.e.f.13.07.1965) |
|
|
|
|
Formerly Known
As : |
K K NAG PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
15, Sangam Project, Phase II, Sangam Bridge, 46 Dr.
Ambedkar Road, Pune - 411001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
13.07.1965 |
|
|
|
|
Com. Reg. No.: |
25-013267 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 8.470
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1965PLC013267 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK00493D |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Expand Polystyrene (EPS), Moulded Packaging and
components and Trader of Evaporative Air Coolers and Parts. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 288000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The rating takes into consideration moderate financial risk profile. However, trade relations are fair. Business is active. Payment are
reported to be slow but correct. The company can be considered for business dealing with some cautions. |
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating: “BB-” |
|
Rating Explanation |
Have moderate risk of default. |
|
Date |
16.07.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4+” |
|
Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
|
Date |
16.07.2013 |
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
MANAGEMENT NON-COOPERATIVE (Tel. No.: 91-20-30269650)
LOCATIONS
|
Registered / Corporate / Sales Office: |
15, Sangam Project, Phase II, Sangam Bridge, 46 Dr.
Ambedkar Road, Pune - 411001, Maharashtra, India |
|
Tel. No.: |
91-20-30269650 |
|
Fax No.: |
91-20-30269651 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Pune Manufacturing
– Urse (Talegaon): |
Gat No. 393, At Post Urse, Taluka Maval, Pune - 410506, Maharashtra,
India |
|
Tel. No.: |
91-2114-237081/ 82/ 83/ 237481/ 85 |
|
Fax No.: |
91-2114-237084 |
|
E-Mail : |
|
|
|
|
|
Pune Manufacturing
- Ranjangaon: |
Plot No. E - 86, Ranjangaon Industrial Area, Village
Karegaon, Taluka Shirur, District Pune - 412208, Maharashtra, India |
|
Tel. No.: |
91-2138-288276/ 232731 |
|
Fax No.: |
91-2138-237084 |
|
E-Mail : |
|
|
|
|
|
Bangalore Sales
Office / Bangalore Manufacturing: |
Survey No. 182/1, Anekal To Attibelel Road, Bidragere Grama, Kasaba Hobli,
Bestamanahalli Post, Anekal, Bangalore - 562106, Karnataka, India |
|
Tel. No.: |
91-80-27841639 |
|
Fax No.: |
91-80-27841638 |
|
E-Mail : |
|
|
|
|
|
Puducherry Sales
Office and Manufacturing : |
84/1, |
|
Tel. No.: |
91-413-2699970/ 2699971/ 3243125 |
|
Fax No.: |
91-413-2699785 |
|
E-Mail : |
|
|
|
|
|
Chennai Sales
Office / Chennai Manufacturing - Thiruvallur : |
Survey No. 490/2A and 2B, Vengathur Village, Kilnallathur-Vengathur
Thandupattai Road, Thiruvallur - 602002, Tamilnadu, India |
|
Tel. No.: |
91-44-27640554 |
|
Fax No.: |
91-44-27640554 |
|
E-Mail : |
|
|
|
|
|
Engineering Support Division/ Rotomoulding Division/ Rural Development
Cell : |
Shembekar Industrial Compound, Chinchwad, Pune - 411019, Maharashtra, India |
|
Tel. No.: |
91-20-65104554/ 27461440/ 27440245 |
|
Fax No.: |
91-20-30269651 |
|
E-Mail : |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Milon Kalyankumar Nag |
|
Designation : |
Managing director |
|
Address : |
“Barodi”, 3, Boat Club Road, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
06.07.1962 |
|
Date of Appointment : |
01.11.1986 |
|
DIN No.: |
00267622 |
|
|
|
|
Name : |
Mr. Ulhas Damle |
|
Designation : |
Director |
|
Address : |
A-501, Eves Garden, Opposite Baner Telephone Exchange Baner Road, Pune
– 411048, Maharashtra, India |
|
Date of Birth/Age : |
08.04.1954 |
|
Date of Appointment : |
01.07.2001 |
|
DIN No.: |
00267735 |
|
|
|
|
Name : |
Mr. Ayyappankave Venkateshwaran Ramanathan |
|
Designation : |
Director |
|
Address : |
A/3/22, Agrasen Co-Operative Housing Society, 8, Koregaon Park, Pune –
411001, Maharashtra, India |
|
Date of Birth/Age : |
15.03.1939 |
|
Date of Appointment : |
02.10.1978 |
|
DIN No.: |
01489659 |
|
|
|
|
Name : |
Shona Milon Nag |
|
Designation : |
Additional Director |
|
Address : |
“Barodi”, 3, Boat Club Road, Pune - 411001, Maharashtra, India |
|
Date of Birth/Age : |
03.04.1963 |
|
Date of Appointment : |
06.09.2013 |
|
DIN No. : |
06682807 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Milon Nag J/W Mitali Nag |
|
28230 |
|
Milon Nag J/W Shona Nag |
|
28231 |
|
Milon Nag J/W Crishna Nag |
|
28230 |
|
Mitali Nag J/W Milon Nag |
|
1 |
|
Joya Sabberwal J/W Milon Nag |
|
8 |
|
Crishna Nag J/W Milon Nag |
|
1 |
|
Shona Nag J/W Milon Nag |
|
1 |
|
Shona Nag J/W Mitali Nag |
|
1 |
|
Shona Nag J/W Crishna Nag |
|
1 |
|
Total |
|
84704 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Expand Polystyrene (EPS), Moulded Packaging and
components and Trader of Evaporative Air Coolers and Parts. |
||||
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||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
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|
||||||||||||||||||||||||
|
Bankers : |
· State Bank of India, Industrial Finance Branch, Near Kalasagar Hotel, Kasarwadi, Pimpri, Pune - 411034, Maharashtra, India · State Bank of India Industrial Finance Branch Pimpri Old Pune Mumbai Highway, Kasarwadi Near Kalasagar, Kasarwadi Pimpri, Pune - 411018, Maharashtra, India |
||||||||||||||||||||||||
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|
||||||||||||||||||||||||
|
Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
SBI Factors and Commercial Services Private Limited, 61 Sakhar Bhavan 6th Floornariman Point, (Through Its Wakdewadi Branch, Pune), Mumbai - 400021, Maharashtra, India |
|
|
|
|
Auditors : |
|
|
Name : |
Delloite Haskins and Sells Chartered Accountants |
|
Address : |
706, B Wing, 7th Floor, ICC Trade Tower, Senapati Bapat
Road, Pune – 411016, Maharashtra, India |
|
Tel. No.: |
91-20-66244600 |
|
Fax No.: |
91-20-66244605 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAAFS7376P |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100,000 |
Equity Shares |
Rs.100/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
84,704 |
Equity Shares |
Rs.100/- each |
Rs. 8.470 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 |
8.470 |
8.470 |
8.470 |
|
(b) Reserves & Surplus |
63.563 |
52.299 |
64.499 |
|
(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) |
72.033 |
60.769 |
72.969 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
9.673 |
23.641 |
27.329 |
|
(b) Deferred tax liabilities (Net) |
10.313 |
5.222 |
10.786 |
|
(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) |
19.986 |
28.863 |
38.115 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
47.684 |
73.239 |
74.386 |
|
(b) Trade
payables |
259.975 |
219.407 |
195.704 |
|
(c) Other
current liabilities |
35.554 |
29.409 |
25.627 |
|
(d) Short-term
provisions |
4.786 |
0.000 |
4.516 |
|
Total Current
Liabilities (4) |
347.999 |
322.055 |
300.233 |
|
|
|
|
|
|
TOTAL |
440.018 |
411.687 |
411.317 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
143.076 |
152.053 |
151.137 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
4.835 |
6.303 |
9.977 |
|
(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 |
10.881 |
10.721 |
12.098 |
|
(e) Other
Non-current assets |
2.033 |
4.685 |
2.952 |
|
Total Non-Current
Assets |
160.825 |
173.762 |
176.164 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
81.556 |
76.601 |
72.819 |
|
(c) Trade
receivables |
174.801 |
146.097 |
126.573 |
|
(d) Cash
and cash equivalents |
7.760 |
6.166 |
2.860 |
|
(e)
Short-term loans and advances |
11.504 |
6.916 |
16.262 |
|
(f) Other
current assets |
3.572 |
2.145 |
16.639 |
|
Total
Current Assets |
279.193 |
237.925 |
235.153 |
|
|
|
|
|
|
TOTAL |
440.018 |
411.687 |
411.317 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations |
959.092 |
818.053 |
780.228 |
|
|
|
Other Income |
5.400 |
5.721 |
6.314 |
|
|
|
TOTAL (A) |
964.492 |
823.774 |
786.542 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of Raw Materials |
494.584 |
400.876 |
366.369 |
|
|
|
Purchase of stock in trade |
21.458 |
26.413 |
30.702 |
|
|
|
Increase/ Decrease in Stock of Finished Goods and Work in process |
0.442 |
(4.628) |
(18.470) |
|
|
|
Employee benefit expenses |
105.733 |
96.634 |
85.888 |
|
|
|
Other expenses |
272.994 |
271.001 |
253.659 |
|
|
|
TOTAL (B) |
895.211 |
790.296 |
718.148 |
|
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
69.281 |
33.478 |
68.394 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
24.415 |
26.261 |
22.385 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
44.866 |
7.217 |
46.009 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
25.440 |
25.837 |
22.628 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX (E-F) (G) |
19.426 |
(18.620) |
23.381 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
7.170 |
(6.420) |
7.799 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-H) (I) |
12.256 |
(12.200) |
15.582 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
32.098 |
44.298 |
32.258 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.000 |
1.560 |
|
|
|
Dividend |
0.847 |
0.000 |
1.694 |
|
|
|
Tax on Dividend |
0.144 |
0.000 |
0.288 |
|
|
BALANCE CARRIED
TO THE B/S |
43.363 |
32.098 |
44.298 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Sale of Export on FOB Basis |
44.991 |
29.745 |
28.562 |
|
|
TOTAL EARNINGS |
44.991 |
29.745 |
28.562 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Material |
47.952 |
35.198 |
33.329 |
|
|
|
Stores & Spares |
0.308 |
1.605 |
4.552 |
|
|
|
Capital Items |
0.000 |
3.946 |
5.113 |
|
|
|
Traded Items |
15.799 |
22.970 |
27.067 |
|
|
TOTAL IMPORTS |
64.059 |
63.719 |
70.061 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
144.69 |
(144.03) |
183.96 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.27
|
(1.48)
|
1.98
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.03
|
(2.28)
|
3.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.46
|
(4.59)
|
5.83
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
(0.31)
|
0.32
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.80
|
1.59
|
1.39
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.80
|
0.74
|
0.78
|
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 |
8.470 |
8.470 |
8.470 |
|
Reserves & Surplus |
64.499 |
52.299 |
63.563 |
|
Net
worth |
72.969 |
60.769 |
72.033 |
|
|
|
|
|
|
Long-term borrowings |
27.329 |
23.641 |
9.673 |
|
Short term borrowings |
74.386 |
73.239 |
47.684 |
|
Total
borrowings |
101.715 |
96.880 |
57.357 |
|
Debt/Equity
ratio |
1.394 |
1.594 |
0.796 |
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 |
780.228 |
818.053 |
959.092 |
|
|
|
4.848 |
17.241 |
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 |
780.228 |
818.053 |
959.092 |
|
Profit/ (Loss) |
15.582 |
(12.200) |
12.256 |
|
|
2.00% |
(1.49%) |
1.28% |
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 |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
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 |
10018036 |
22/01/2014 * |
182,800,000.00 |
STATE BANK OF INDIA INDUSTRIAL FINANCE BRANCH PIMPRI |
OLD PUNE MUMBAI
HIGHWAY, KASARWADI NEAR KALASAGAR, |
B96355474 |
|
2 |
90087968 |
07/01/2000 * |
67,000,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, PUNE, MAHARASHTRA, INDIA |
- |
|
3 |
90082413 |
01/12/2003 * |
31,800,000.00 |
STATE BANK OF INDIA |
PIMPRI, PUNE
BRANCH, PUNE - 411034, MAHARASHTRA, |
- |
|
4 |
90090040 |
28/10/1994 |
14,400,000.00 |
STATE BANK OF INDIA |
PUNE PIMPRI BR., PUNE, MAHARASHTRA, INDIA |
- |
|
5 |
90087594 |
08/12/1988 * |
7,132,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, BOMBAY-PUNE ROAD, PUNE - 411018, MAHARASHTRA, INDIA |
- |
|
6 |
90089353 |
28/10/1994 * |
7,432,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, PUNE - 411034, MAHARASHTRA, INDIA |
- |
|
7 |
90089194 |
24/12/1981 * |
3,900,000.00 |
STATE BANK OF INDIA |
PIMPRI BRANCH, BOMBAY-PUNE ROAD, PUNE - 411034, MAHARASHTRA, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Fixed Deposit |
|
|
|
From Directors |
0.000 |
2.800 |
|
From Others |
0.731 |
6.706 |
|
Deferred sales tax loan |
1.223 |
3.980 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Other loans and advances |
0.000 |
8.512 |
|
Total |
1.954 |
21.998 |
OPERATIONS
As Sales and Other Income Increased 17% and the Profit before Tax by Rs. 38.048 Millions Company’s net profit margin improved to 1.27% compared to a loss of 1.86% in the previous year.
The Division-wise performance was as under
MANUFACTURING
DIVISION: URSE
On account of lower volumes input cost Increases and sub optimal operating efficiencies, the Division registered a loss during the year.
MANUFACTURING
DIVISION: RANJANGAON
This Division continued its good performance and achieved a profit of Rs 11.534 Millions, the Division continued to spearhead the TQM activities in the Company.
MANUFACTURING
DIVISION: BENGALURU
The Division performed excellently during the year registering a profit of Rs. 3.976 Millions as compared to Rs. 0.252 Million in the previous year.
MANUFACTURING
DIVISION: KARIAMANICKKAM
Due to the continuous increase in input costs, the division suffered a marginal loss.
MANUFACTURING
DIVISION: THIRUVALLU
The performance of this Division was disappointing as it registered a higher loss than the previous year.
ROTOMOULDING DIVISION
The division delivered a stellar performance by achieving a profit of Rs. 5.145 Millions as compared to Rs. 0.511 Million in the previous year.
CONTINGENT
LIABILITIES:
|
PARTICULARS |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Bank Guarantee
outstanding |
7.327 |
4.490 |
|
Matters pending
in appeals |
|
|
|
For Income tax |
0.335 |
0.335 |
|
For Sales tax |
6.000 |
5.662 |
|
For Service tax |
0.088 |
0.000 |
|
Excise duty matters pending in appeals |
0.321 |
0.328 |
FIXED ASSETS
· Freehold Land
· Leasehold Land
· Factory Building
· Plant and Machinery
· Moulds
· Furniture and Fixtures
· Office Equipment’s
· 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.61.86 |
|
|
1 |
Rs.103.06 |
|
Euro |
1 |
Rs.84.92 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.