MIRA INFORM REPORT
|
Report Date : |
11.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
POLYRUB EXTRUSIONS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit No. 77, Mistry Industrial Complex, MIDC Cross Road A, Andheri
(East), Mumbai – 400093, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
19.10.2005 |
|
|
|
|
Com. Reg. No.: |
11-156873 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 39.970 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25110MH2005PTC156873 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP21218B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCP7071L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers
and Exporters of industrial rubber hoses like fuel hoses, vacuum and canister
hoses water hoses |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 760000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. The management has filed the latest financial for the year 2013 but
same could not be available from government department. As per available financial of 2012, the rating reflects healthy
financial risk profile marked by sound liquidity achieved by the company. Trade relations are fair. Business
is active. Payment terms are reported to be 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.
INDIAN ECONOMIC OVERVIEW
The current downturn
provides an opportunity to push ahead with reforms to accelerate growth, says the
latest India Development Update report released by the World Bank. The report
says that the adverse effects of rupee depreciation are likely to be offset by
the gains in the exports performance due to improved external competitiveness.
Since May this year, the local currency has depreciated substantially and fell
to a record level of Rs 68.85 to a dollar on August, 28.
A stagflation like
situation appears to have arisen as inflation jumped to an eight month high of
6.46 % for the month of September. It is up from 6.10 % in August. Growth
continues to be muted with factory output plunging to 0.6 % in August.
Onion prices have risen nearly 300 % from last September. Vegetables cost
nearly 90 % more than they did last year. Wake up to the economic contribution
of slum dwellers. They contribute more than 7.5 % to the country’s gross
domestic product, according to a recent study conducted in 50 top cities.
136000 estimated
number of jobs created during the second quarter of the current financial year.
50000 estimated number of additional jobs in the field of corporate social
responsibility in the coming years.
The International
Finance Corporation expects to come out with its rupee linked bonds issue
before the end of 2013 as a part of its plan to raise $ 1 billion. The Apple
iPhone 5c (Rs 41900 for 16 GB variant) and 5s (Rs 53500 for 16GB variant) has
been launched in India from 1st November.
The Land Acquisition
Act to provide just and fair compensation to farmers will come into force from
January 1 next year, said Rural Development Minister Jairam Ramesh. The Act
replaces a 119 year old registration. The Securities and Exchange Board of
India has approved the trading of currency futures on the Bombay Stock
Exchange. The exchange plans to launch the currency futures platform with
advanced trading technology by the end of November.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long terms rating: BBB |
|
Rating Explanation |
Moderate degree of safety and moderate credit risk. |
|
Date |
25.11.2013 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short terms rating: A3+ |
|
Rating Explanation |
Moderate degree of safety and high credit risk. |
|
Date |
25.11.2013 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Ms. Archna |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-22-41620000 |
|
Date : |
08.03.2014 |
LOCATIONS
|
Registered Office : |
Unit No. 77, Mistry Industrial Complex, MIDC Cross Road A, Andheri (East),
Mumbai – 400093, Maharashtra, India |
|
Tel. No.: |
91-22-26870360 / 28300360 / 28321769 / 28366494 / 6441 /
26870441 / 26871769 / 26872696 / 26870330 / 41620000 |
|
Fax No.: |
91-22-28367339 / 26870339 |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Factory 1 : |
Plot No. W-102 D, MIDC, Thane Belapur, Khairane, Navi Mumbai – 400705,
|
|
Tel. No.: |
91-22-65163530 / 65163531 / 55903530 / 55903531 / 55901770 / 71 |
|
Fax No.: |
91-22-55903532 / 27616687 |
|
E-Mail : |
|
|
|
|
|
Factory 2 : |
Gat No. 389, Plot No. C-43, Chakan-Talegaon Road, Pune – 410501,
Maharashtra, India |
|
|
|
|
Factories : |
SUJAN INDUSTRIES 16, 17 / 77, Mistry Industrial Complex, MIDC Cross Road A,
Andheri (East), Mumbai - 400093, Maharashtra, India Tel 91-22-2687 0441, 91-22-2687 1769 Fax : 91-22-2687 0339 E-mail:
sujan@bom3.vsnl.net.in
Plat No. W- 129 A, MIDC Thane Belapur Road, Khairne,
Navi-Mumbai-400705, Maharashtra, India Tel: 91-22-5590 3530, 91-22-5590 3531, 91-22-5590 1770/71 Fax : 91-22-5590 3532 E-mail
: polyrub@mantraonline.com E-mail
: polyrub@vsnl.net
Building No. 1, Agarwal Udyog Nagar Waliv, Vasai Road
(East), District Thane - 401208, Maharashtra, India Tel: 91- 0250-454 365, 91- 0250-454 520 Fax: 91- 0250-454 519 E-mail
: mega_rubber@vsnl.com
Unit No. 5, Waliv, Vasai Road (East), District Thane -
401208, Maharashtra, India Tel: 91- 0250-454 365, 91- 0250-454 520 Fax: 91- 0250-454 519 E-mail
: mega_rubber@vsnl.com
3, Mistry Industrial Complex, MIDC Cross Road A, Andheri
(East), Mumbai-400093, Maharashtra, India Tel : 91-22-2687 0360 Fax: 91-22-2687 0339 E-Mail
: sujan@bom3.vsnl.net.in
89, Mistry Industrial Complex, M.I.D.C, Cross Road ,
"A", Andheri (East), Mumbai – 400093, Maharashtra, India Tel : 91-22-2687 0360 Fax : 91-22-2687 0339 E-Mail
: sujan@bom3.vsnl.net.in |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Tulsi Rewachand Sujan |
|
Designation : |
Director |
|
Address : |
401/ 402,
Gulshan, Junction of Ahinsa Marg, and Khar Danda Road, Mumbai - 400052,
Maharashtra, India |
|
Date of Birth/Age : |
18.03.1949 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
01561095 |
|
|
|
|
Name : |
Mr. Jaiprakash Khanchand Vasdani |
|
Designation : |
Director |
|
Address : |
703-C, Ganga
Estate, Behind Atur Park, Chembur, Mumbai - 400071, Maharashtra, India |
|
Date of Birth/Age : |
12.04.1955 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
01424172 |
|
|
|
|
Name : |
Mrs. Padma Harish Sujan |
|
Designation : |
Director |
|
Address : |
B 4/6, Basant
Park, Mahul Road, Chembur, Mumbai - 400071, Maharashtra, India |
|
Date of Birth/Age : |
22.03.1949 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
01560907 |
|
|
|
|
Name : |
Mrs. Sheetal Neelkumar Sujan |
|
Designation : |
Director |
|
Address : |
802/902, Ruchita
Tower, Juhu Versova Link Road, Andheri (West), Mumbai - 400053, Maharashtra,
India |
|
Date of Birth/Age : |
01.03.1960 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
02420986 |
|
|
|
|
Name : |
Mrs. Kanchan Ghansham Sujan |
|
Designation : |
Director |
|
Address : |
901, Buena
Vista, St. Alexius Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
02.07.1961 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
02420987 |
|
|
|
|
Name : |
Mrs. Satvinderkaur Vijay Sujan |
|
Designation : |
Director |
|
Address : |
302, Kripa Nidhi,
Plot No. 27, JVPD Scheme , Gulmohur Cross Road 4, Vile Parle (West), Mumbai –
400056, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1974 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
02420992 |
|
|
|
|
Name : |
Mr. Ashok Sujan Rewachand |
|
Designation : |
Director |
|
Address : |
1701, Green
Acre, Plot 325, Lokhandwala Complex, Andheri West, Mumbai 400058,
Maharashtra, India |
|
Date of Birth/Age : |
20.12.1950 |
|
Date of Appointment : |
19.10.2005 |
|
DIN No.: |
01424203 |
|
|
|
|
Name : |
Mr. Ghansham Rewachand Sujan |
|
Designation : |
Director |
|
Address : |
901, Buena
Vista, St. Alexius Road, Bandra (West), Mumbai - 400050, Maharashtra, India |
|
Date of Birth/Age : |
10.07.1954 |
|
Date of Appointment : |
01.10.2007 |
|
DIN No.: |
02420985 |
KEY EXECUTIVES
|
Name : |
Ms. Archna |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
% age |
|
Tulsi Rewachand Sujan |
571000 |
14.29 |
|
Jai Prakash Vasdani |
571000 |
14.29 |
|
Ashok Rewachand Sujan |
571000 |
14.29 |
|
Padma Harish Sujan |
571000 |
14.29 |
|
Kanchan R. Sujan |
571000 |
14.29 |
|
Sheetal Neel Sujan |
571000 |
14.29 |
|
Satvinder V. Sujan |
571000 |
14.29 |
|
Total |
3997000 |
100.00 |
%20PRIVATE%20LIMITED%20-%20257503_MIRA%2011-Mar-2014_files/image013.gif)
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
and Exporters of industrial rubber hoses like fuel hoses, vacuum and canister
hoses water hoses |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material (Synthetic Rubber ) |
|
Countries : |
Japan |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
|||||||||||||||||||||
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|
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|
No. of Employees : |
300 (Approximately) |
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|||||||||||||||||||||
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Bankers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Cash and Credit: Rs.100.000 Millions (From Axis Bank Limited)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rohira Mehta and Associates Chartered Accountants |
|
Address : |
B-202, 2nd Floor, Grand Bella Vista, Near Jari Mari Temple,
S.V. Road, Bandra West, Mumbai – 400050, Maharashtra, India |
|
Tel. No.: |
91-22-42084500 |
|
Fax No.: |
91-22-42084501 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAIPR8005L |
|
|
|
|
Other related party : |
|
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3997000 |
Equity Shares |
Rs.10/- each |
Rs. 39.970
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
39.970 |
9.950 |
|
|
(b) Reserves & Surplus |
149.534 |
116.022 |
|
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
189.504 |
125.972 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
236.856 |
206.286 |
|
|
(b) Deferred tax liabilities
(Net) |
11.450 |
9.869 |
|
|
(c) Other long term
liabilities |
7.050 |
4.070 |
|
|
(d) long-term provisions |
0.490 |
0.215 |
|
|
Total
Non-current Liabilities (3) |
|
255.846 |
220.440 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
189.010 |
129.642 |
|
|
(b) Trade payables |
181.619 |
175.308 |
|
|
(c) Other current liabilities |
61.830 |
41.599 |
|
|
(d) Short-term provisions |
10.921 |
4.015 |
|
|
Total
Current Liabilities (4) |
|
443.380 |
350.564 |
|
|
|
|
|
|
TOTAL |
|
888.730 |
696.976 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
363.776 |
339.381 |
|
|
(ii) Intangible Assets |
10.989 |
14.973 |
|
|
(iii) Capital work-in-progress |
0.000 |
0.000 |
|
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
|
|
(b) Non-current Investments |
0.000 |
0.000 |
|
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
|
|
(d) Long-term Loan and Advances |
31.968 |
13.669 |
|
|
(e) Other Non-current assets |
0.337 |
14.046 |
|
|
Total
Non-Current Assets |
|
407.070 |
382.069 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
105.991 |
92.842 |
|
(c) Trade receivables |
|
269.961 |
165.238 |
|
(d) Cash and cash equivalents |
|
16.737 |
7.456 |
|
(e) Short-term loans and
advances |
|
45.326 |
30.273 |
|
(f) Other current assets |
|
43.645 |
19.098 |
|
Total
Current Assets |
|
481.660 |
314.907 |
|
|
|
|
|
|
TOTAL |
|
888.730 |
696.976 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
9.950 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
101.887 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
111.837 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
199.511 |
|
|
2] Unsecured Loans |
|
|
115.164 |
|
|
TOTAL BORROWING |
|
|
314.675 |
|
|
DEFERRED TAX LIABILITIES |
|
|
6.551 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
433.063 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
314.222 |
|
|
Capital work-in-progress |
|
|
0.609 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
46.262
|
|
|
Sundry Debtors |
|
|
120.459
|
|
|
Cash & Bank Balances |
|
|
3.652
|
|
|
Other Current Assets |
|
|
0.000
|
|
|
Loans & Advances |
|
|
46.603
|
|
Total
Current Assets |
|
|
216.976
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
75.127
|
|
|
Other Current Liabilities |
|
|
39.287
|
|
|
Provisions |
|
|
0.000
|
|
Total
Current Liabilities |
|
|
114.414
|
|
|
Net Current Assets |
|
|
102.562
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
15.670 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
433.063 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1026.226 |
687.162 |
464.591 |
|
|
|
Other Income |
11.795 |
8.198 |
8.273 |
|
|
|
TOTAL (A) |
1038.021 |
695.360 |
472.864 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of raw material consumed |
513.322 |
363.023 |
242.029 |
|
|
|
Purchase of traded goods |
21.024 |
16.339 |
0.000 |
|
|
|
Changes in inventories of raw material and finished goods |
(13.858) |
(6.814) |
(4.312) |
|
|
|
Employee benefit expenses |
76.967 |
61.529 |
42.623 |
|
|
|
Other Expenses |
296.400 |
174.168 |
106.802 |
|
|
|
TOTAL (B) |
893.855 |
608.245 |
387.142 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
144.166 |
87.115 |
85.722 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
46.200 |
30.850 |
29.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
97.966 |
56.265 |
56.144 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
51.513 |
36.214 |
32.647 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
46.453 |
20.051 |
23.497 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.213 |
5.690 |
7.176 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
32.240 |
14.361 |
16.321 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
116.022 |
101.887 |
87.078 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Previous year Tax Arrears |
2.562 |
0.226 |
1.512 |
|
|
BALANCE CARRIED
TO THE B/S |
149.533 |
116.022 |
101.887 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
351.773 |
112.008 |
73.271 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
Basic
|
18.51 |
14.21 |
16.40 |
|
|
|
Diluted
|
18.51 |
3.54 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
3.11 |
2.07 |
3.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.53 |
2.92 |
5.06 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.23
|
2.88 |
4.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.16 |
0.21 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.25
|
2.67 |
3.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.09
|
0.90 |
1.90 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
|
31.03.2011 |
31.03.2012 |
|
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
|
9.950 |
39.970 |
|
Reserves & Surplus |
|
116.022 |
149.534 |
|
Net
worth |
|
125.972 |
189.504 |
|
|
|
|
|
|
long-term borrowings |
|
206.286 |
236.856 |
|
Short term borrowings |
|
129.642 |
189.010 |
|
Total
borrowings |
|
335.928 |
425.866 |
|
Debt/Equity
ratio |
|
2.667 |
2.247 |
%20PRIVATE%20LIMITED%20-%20257503_MIRA%2011-Mar-2014_files/image015.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
464.591 |
687.162 |
1026.226 |
|
|
|
47.907 |
49.343 |
%20PRIVATE%20LIMITED%20-%20257503_MIRA%2011-Mar-2014_files/image017.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
464.591 |
687.162 |
1026.226 |
|
Profit |
16.321 |
14.361 |
32.24 |
|
|
3.51% |
2.09% |
3.14% |
%20PRIVATE%20LIMITED%20-%20257503_MIRA%2011-Mar-2014_files/image019.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES
OF LONG-TERM DEBT DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Current maturities of long-term debt |
31.104 |
17.813 |
NA
|
|
|
|
|
|
|
Total |
31.104 |
17.813 |
NA
|
|
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 |
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 |
No |
|
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 |
OPERATIONS
The Company has posted encouraging results during the year having posted a sales turnover of Rs. 1001.878 Millions as compared to Rs. 670.642 Millions in the previous year, representing a jump of 49% in its manufacturing operations.
BACKGROUND AND NATURE
OF OPERATIONS
Subject is a Company domiciled in India and incorporated under the provisions of the Companies Act, 1956 as on October 19 2005, as a private limited company. The Company is engaged primarily in the business of manufacturing and exports of rubber goods.
UNSECURED LOAN
|
PARTICULARS |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
in Millions) |
|
Long-term
Borrowings |
|
|
|
Loans and advances from related parties |
140.768 |
126.532 |
|
Total |
140.768 |
126.532 |
INDEX
OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10375256 |
28/03/2013 * |
199,700,000.00 |
AXIS BANK LIMITED |
GROUND FLOOR,
AXIS HOUSE, BOMBAY DYEING MILLS CO |
B72274590 |
|
2 |
10325863 |
05/10/2012 * |
199,700,000.00 |
AXIS BANK LIMITED |
(A/C WITH VASHI
BR),AXIS HOUSE, GR. FLR, BOMBAY |
B63197214 |
|
3 |
10134583 |
22/08/2012 * |
254,000,000.00 |
STANDARD CHARTERED BANK |
SME CREDIT,
CRESCENZO, 3A/F, PLOT NO. C-38 AND 39, |
B56348709 |
* Date of charge modification
CONTINGENT
LIABILITIES NOT PROVIDED FOR : (AS ON 31.03.2012)
The Company has provided letter of undertaking to the Custom Authorities for Rs 56.885 Millions (P.Y. Rs. 43.855 Millions).
The Company has provided corporate guarantee to State Bank of Indis in respect of credit facilities availed, aggregating to Rs. 75.000 Millions (P.Y. 45.000 Millions Industries. in which the directors of the Company are directors / members having substantial interest.
The Company has provided corporate guarantee in respect of credit facilities availed, aggregating to 6.000 Millions P.Y. 6.000 Millions) by Sister concern directors of the Company are directors / members having substantial interest.
FIXED ASSETS
Tangible assets
- Buildings
- Plant and equipment
- Furniture and fixtures
Intangible assets
- Computer software
- Recipes, formulae, models, designs and prototypes
- Designs
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 records 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.61.20 |
|
|
1 |
Rs.102.35 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
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 |
|
48 |
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.