MIRA INFORM REPORT
|
Report Date : |
08.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
WALPLAST PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Rainbow Plot No.13, Sector 24, Turbhe, Navi Mumbai – 400 705,
Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
25.06.2004 |
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Com. Reg. No.: |
11-147149 |
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Capital Investment
/ Paid-up Capital : |
Rs.20.000 millions |
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CIN No.: [Company Identification
No.] |
U14106MH2004PTC147149 |
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PAN No.: [Permanent Account No.] |
AAACW5337R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of white cement based putty and
its different variants viz. crack fillers, skim coat, base coat etc. |
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No. of Employees
: |
250 (Approximately) |
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 |
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Maximum Credit Limit : |
USD 737000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record. The company possesses a favourable capital structure which further strengthens
its financial profile. However, the profit margin is reputed to be low during
2013. The ratings also take into consideration the working capital intensive
nature of its operations, vulnerability of its margins to raw material prices
and inherent cyclicality in the business on account of its dependence on the
real estate sector. However, trade relations are appears to be fair. Business is active.
Payment terms are reported as usually correct. In view of long standing experience of promoters in the business and
its pan India presence, the subject 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.
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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 |
ICRA |
|
Rating |
Long Term Fund Based Limit: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
December, 2012 |
|
Rating Agency Name |
ICRA |
|
Rating |
Short Term Fund Based Limits: A3+ |
|
Rating Explanation |
Moderate degree of safety and higher credit risk. |
|
Date |
December, 2012 |
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. Manoj Dabir |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-22-41418282 |
|
Date : |
06.03.2014 |
LOCATIONS
|
Registered Office/ Head Office : |
Rainbow Plot No.13, Sector 24, Turbhe, Navi Mumbai – 400 705, Maharashtra,
India |
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Tel. No.: |
91-22-41418282 |
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Fax No.: |
91-22-41418200 |
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E-Mail : |
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Website : |
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Corporate Office : |
Located at: ·
Navi Mumbai |
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Factory 1 : |
GUJARAT (VAPI) Village Kakadkopar, Vapi
Dharampur, State Highway, Between Nanaponda and Motaponda, District Valsad –
396 126, Gujarat, India |
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Factory 2 : |
RAJASTHAN (BEHROR) A-23 C, Phase 1, RIICO, Opposite
RTO Behror, Alwar – 301 701, Rajasthan, India |
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Factory 3 : |
CHHATTISGARH (BIRKONI) Plot No.162-179, CSIDC
Industrial Area, (Near CSIDC Office), Birkoni District Mahasamund – 493 445,
Chhattisgarh, India |
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Factory 4 : |
GUJARAT (VADODARA) 432/2/40P1, Shed No.1,
Taluka - Dabhoi, Pansoli, District Vadodara – 391 110, Gujarat, India |
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Factory 5 : |
MADHYA PRADESH (KATNI) Plot No.6 and 7, IIDC
Lamtara, District Katni – 483 501, Madhya Pradesh, India |
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Factory 6 : |
TAMILNADU (PERUNDURAI) Plot No.R-42, SIPCOT
Industrial Growth Center, Perundurai, District Erode – 638 052, Tamilnadu,
India |
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Factory 7 : |
Also located at: ·
Turbhe (Maharashtra) |
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Depots : |
Located at: ·
Hyderabad ·
Hissar ·
Gurgaon ·
Ahmedabad ·
Vadodara ·
Surat ·
Ahmednagar ·
Dhule ·
Nashik ·
Navi Mumbai ·
Satara ·
Jaipur ·
Coimbatore ·
Indore ·
Jabalpur ·
Ludhiana ·
Amritsar ·
Bathinda ·
Delhi ·
Agra ·
Kanpur ·
Allahabad ·
Lucknow ·
Gorkhpur ·
Jhansi · Bareilly ·
Varanasi |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Ashok Nagardas Mehta |
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Designation : |
Director |
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Address : |
Rainbow Plot No.42, Pestom Sagar, Chembur, Mumbai – 400 089,
Maharashtra, India |
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Date of Birth/Age : |
14.11.1948 |
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Date of Appointment : |
25.06.2004 |
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DIN No.: |
00113783 |
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PAN No.: |
AAAPM9304R |
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Other Directorship :
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Name : |
Mr. Kaushal Ashok Mehta |
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Designation : |
Director |
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Address : |
Rainbow Plot No.42, Pestom Sagar, Chembur, Mumbai – 400 089,
Maharashtra, India |
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Date of Birth/Age : |
02.07.1981 |
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Date of Appointment : |
25.06.2004 |
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DIN No.: |
00113826 |
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PAN No.: |
AGAPM3015F |
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Other Directorship :
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Name : |
Mrs. Asha Ashok Mehta |
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Designation : |
Director |
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Address : |
Rainbow Plot No.42, Pestom Sagar, Chembur, Mumbai – 400 089,
Maharashtra, India |
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Date of Birth/Age : |
10.08.1955 |
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Date of Appointment : |
25.06.2004 |
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DIN No.: |
00113834 |
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PAN No.: |
AAOPM0175C |
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Other Directorship :
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Name : |
Mr. Atul Chandra Gautam |
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Designation : |
Director |
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Address : |
B-13, Bank of India Officers Colony, Sector-13, Nerul, Navi Mumbai –
400 706, Maharashtra, India |
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Date of Birth/Age : |
20.06.1952 |
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Date of Appointment : |
30.09.2013 |
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DIN No.: |
01355416 |
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Other Directorship :
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Name : |
Mr. Bhavesh Chandra Chattopadhyaya |
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Designation : |
Director |
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Address : |
Erose Garden, Block-111, 80, Ground Floor, Suraj Kund Road, Faridabad
– 121 009, Haryana, India |
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Date of Birth/Age : |
16.10.1947 |
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Date of Appointment : |
26.02.2010 |
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DIN No.: |
01895497 |
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PAN No.: |
AAOPC6506H |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Ashok Nagardas Mehta |
44400 |
22.20 |
|
Asha Ashok Mehta |
27100 |
13.55 |
|
Kaushal Ashok Mehta |
31300 |
15.65 |
|
Ashok Nagardas Mehta (HUF) |
27200 |
13.60 |
|
Rachana M. Parekh |
12000 |
6.00 |
|
Alive Ceramics Private Limited, India |
58000 |
29.00 |
|
Total |
200000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
29.00 |
|
Directors
or relatives of directors |
|
57.40 |
|
Other
top fifty shareholders |
|
13.60 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of white cement based putty and
its different variants viz. crack fillers, skim coat, base coat etc. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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PRODUCTION STATUS (AS ON 31.03.2011):
Licensed Capacity: Nil
Installed Capacity: Nil
|
Particulars |
Production Kgs.
|
|
Plasto Shine |
17989780 |
|
Plasto Fill |
38585 |
|
Plasto Tile |
53045 |
|
Plasto Proof |
50915 |
|
Plasto Grey |
102880 |
|
Plasto Premium |
69745 |
|
Plasto Seal |
20870 |
|
Plasto Coarse |
542160 |
|
Cement Putty |
43248866 |
|
Ready Mix Plaster |
3664960 |
|
Silco Plast |
57400 |
GENERAL INFORMATION
|
No. of Employees : |
250 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dilip Kapadia and Company Chartered Accountants |
|
Address : |
Room No.2, Baburao Chawl, Bachani Nagar Cross Road, Daftary Road,
Mulund (EAST) , Mumbai, Maharashtra, India |
|
PAN No.: |
ADUPK4157H |
|
|
|
|
Enterprise over which Key Management Personnel are able to exercise
control : |
|
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
225000 |
Equity Shares |
Rs.100/- each |
Rs.22.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 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 |
20.000 |
20.000 |
20.000 |
|
(b) Reserves & Surplus |
164.210 |
148.233 |
121.241 |
|
(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) |
184.210 |
168.233 |
141.241 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
46.424 |
74.888 |
26.732 |
|
(b) Deferred tax liabilities (Net) |
2.735 |
2.905 |
1.569 |
|
(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) |
49.159 |
77.793 |
28.301 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
136.044 |
85.502 |
36.971 |
|
(b)
Trade payables |
101.196 |
144.662
|
101.861 |
|
(c)
Other current liabilities |
30.015 |
26.577
|
17.622 |
|
(d)
Short-term provisions |
9.307 |
13.021
|
3.402 |
|
Total
Current Liabilities (4) |
276.562 |
269.762 |
159.856 |
|
|
|
|
|
|
TOTAL |
509.931 |
515.788 |
329.398 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
225.562 |
174.993 |
136.258 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.342 |
|
(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 |
0.502 |
0.502 |
0.502 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and
Advances |
0.000 |
0.000 |
0.000 |
|
(e)
Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
226.064 |
175.495 |
137.102 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
75.865 |
97.397
|
62.865 |
|
(c)
Trade receivables |
99.523 |
163.033
|
93.065 |
|
(d)
Cash and cash equivalents |
59.453 |
10.887
|
9.464 |
|
(e)
Short-term loans and advances |
49.026 |
68.976 |
26.902 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
283.867 |
340.293 |
192.296 |
|
|
|
|
|
|
TOTAL |
509.931 |
515.788 |
329.398 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
2017.171 |
2038.778 |
1521.128 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2017.171 |
2038.778 |
1521.128 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
1993.324 |
1998.544 |
1449.797 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1993.324 |
1998.544 |
1449.797 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
23.847 |
40.234 |
71.331 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
7.870 |
13.242 |
23.970 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
15.977 |
26.992 |
47.361 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
148.233 |
121.241 |
73.884 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Fringe Benefit Tax |
0.000 |
0.000 |
0.004 |
|
|
BALANCE CARRIED
TO THE B/S |
164.210 |
148.233 |
121.241 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
11.561 |
3.609 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
79.89 |
134.96 |
NA |
|
Expected Sales (2013-2014): Rs.1800.000 millions
The above information has been parted by Mr. Manoj Dabir (Accounts
Head).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.79 |
1.32 |
3.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.68 |
7.81 |
21.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.13 |
0.24 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.99 |
0.95 |
0.45 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03 |
2.13 |
1.20 |
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 |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
121.241 |
148.233 |
164.210 |
|
Net worth |
141.241 |
168.233 |
184.210 |
|
|
|
|
|
|
long-term borrowings |
26.732 |
74.888 |
46.424 |
|
Short term borrowings |
36.971 |
85.502 |
136.044 |
|
Total borrowings |
63.703 |
160.390 |
182.468 |
|
Debt/Equity ratio |
0.451 |
0.953 |
0.991 |
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) |
|
Total Income |
1521.128 |
2038.778 |
2017.171 |
|
|
|
34.031 |
-1.060 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Total Income |
1521.128 |
2038.778 |
2017.171 |
|
Profit |
47.361 |
26.992 |
15.977 |
|
|
3.11% |
1.32% |
0.79% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
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 |
10468553 |
30/12/2013 |
47,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B92874759 |
|
2 |
10225654 |
16/11/2013 * |
191,805,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B90091489 |
|
3 |
10207394 |
30/07/2012 * |
189,305,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI
BAPAT MARG, LOWER PAREL (WEST), MUMBAI, MAHARASHTRA - 400013, INDIA |
B56260805 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG-TERM
BORROWINGS |
|
|
|
Loans
and advances from others |
5.000 |
31.250 |
|
Total
|
5.000 |
31.250 |
Note:
The registered office of the company has been
shifted from Plot No.D-314, TTC Industrial Estate, MIDC, Turbhe, Navi Mumbai –
400 705, Maharashtra to the present address w.e.f. 01.03.2007.
FIXED ASSETS:
- Land
- Buildings
- Plant and Equipment
- Furniture and
Fixtures
- Vehicles
- Office
Equipment
- Computer
Equipments
- Leasehold improvements
WEBSITE DETAILS:
PROFILE:
Subject has been promoted by professionals with long and successful experience
in the field of manufacturing and marketing construction materials. Their
company manufacturers various products in the field of premixed plaster, Wall
Putty and other construction materials at its plants located in India. The
product range presently covers skim coat (Wall Putty), water proof plasters,
tile adhesives, crack fillers and small pack additives for construction
industry.
Company has come up recently with a new product known as EASYPLAST
(Polymerized grey cement based Ready - Mixed Plasters for Exterior, Interior
and Ceiling), which is "A revolutionary product that will change the
phase of Construction Industry".
The Company holds commanding position in India's Wall Putty Industry,
being one of the largest manufacturer. They are ISO 9001:2008 Certified
Company. On the quality front, their products meet stringent European and Asian
standards, tailored to meet Indian conditions.
The Company believes in offering its customers best quality products at
most reasonable rates and strives continuously to upgrade its
products to satisfy Indian consumers. In this direction,
highly elaborate and modern R&D facility was set
up first in Navi Mumbai, and now all their Factories
are equipped with latest testing equipments for testing raw materials and
finished products. Regular testing of raw materials and the finished products
have become integral part of subject culture.
The company has its Corporate Office at Navi Mumbai
and presently having 6 manufacturing plants at Gujarat (Vapi and
Vadodara), Madhya Pradesh (Katni), Tamil Nadu (Perundurai), Rajasthan
(Behror), and Chhattisgarh (Birkoni).
MILESTONES
Their History of
Accomplishment
2004 - Established its manufacturing unit at Turbhe (Maharashtra).
2006 - Established its manufacturing unit at Vapi (Gujarat).
2006 - Established its manufacturing unit at Taloja (Maharashtra).
2007 - Established its manufacturing unit at Behror (Rajasthan).
2007 - Established its manufacturing unit at Behror (Rajasthan).
2010 - Established its manufacturing unit at Birkoni (Chhattisgarh).
2012 - Established its manufacturing unit at Vadodara (Gujarat).
2013 - Established its manufacturing unit at Katni (Madhya Pradesh).
2013 - Established its manufacturing unit at Perundurai (Tamilnadu).
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.60.99 |
|
|
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
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 |
|
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.