MIRA
INFORM REPORT
|
Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
FAIRDEAL SUPPLIES LIMITED |
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Registered Office : |
4, B.B.D. Bag (East), 1st Floor, Stephen House, Room no. 5, Kolkata - 700001, West Bengal |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
21.07.1987 |
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Com. Reg. No.: |
21-097552 |
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Capital
Investment / Paid-up Capital : |
Rs. 20.000 Millions |
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CIN No.: [Company
Identification No.] |
U51909WB1987PLC097552 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMF00087D |
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PAN No.: [Permanent
Account No.] |
AAACF2878C |
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Legal Form : |
A Closely held Public Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Hard Coke and Steam Coal,
Thermal Coal etc. |
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No. of Employees : |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. Financials of 2011, 2012 and 2013 could not be made available from government
department. Mr. Shravan, Accounts Executive provided general information and
denied to disclose financial details to us. As per financials of 2010, external borrowing of the company is huge. Status of the company appears to be active in registrar of companies.
Payment terms are reported to be unknown. The company can be considered for business dealing on a safe and
secured 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
State-run banks hired nearly 300000
personnel including more than 94000 officers in the last four years, according
to the Indian Banks Association. A study by trade lobby Assocham in September
2013 indicated that banks would need 800000 people in the next six years. It
estimated that state-run lenders alone would hire 50000 people in 2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long term bank facilities: D (Suspended) |
|
Rating Explanation |
Lowest credit quality and very low prospects of recovery. |
|
Date |
January 2013 |
Note: Reason for suspension – Not furnished information required by
care.
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 (GENERAL DETAILS)
|
Name : |
Mr. Shravan |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-33-22306825 |
|
Date : |
13.03.2014 |
LOCATIONS
|
Registered Office : |
4, B.B.D. Bag (East), 1st Floor, Stephen House, Room no. 5, Kolkata - 700001, West Bengal, India |
|
Tel. No.: |
91-33-22201153/ 22206825 |
|
Fax No.: |
91-33-22436124 |
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E-Mail : |
fdspl43@gmail.com frontlinecorp@eth.net |
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Website : |
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Location: |
Owned |
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Head/Corporate Office : |
4th, Floor, “Shalin”, Near Nehru Bridge Corner, Ashram
Road, Ahmedabad 380009, Gujarat, India |
|
Tel. No.: |
91-79-26578201/ 26578863/ 26579750 |
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Fax No.: |
91-79-26576619 |
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E-Mail : |
fdspl43@gmail.com |
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|
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Pipavav Plant : |
Plot No. 17/26, Rampara Village – II, Pipavav Port Road, Taluka Rajula,
District Amreli, Gujarat, India |
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Tel. No.: |
91-2794-286246/ 286399 |
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Fax No.: |
91-2794-286534 |
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E-Mail : |
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Gandhidham Plant : |
Village and Post Chopadava, Taluka – Bhachchau , Kutch, Gujarat, India
|
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Tel. No.: |
91-2836-228508 |
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Fax No.: |
91-2836-228508 |
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E-Mail : |
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Branch Office/ |
854, Avanashi Road, (Near India Card Clothing) Peelamedu Post,
Coimbatore – 641004, Tamilnadu, India |
|
Tel. No.: |
91-422-256866/ 2568667 |
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Fax No.: |
91-422-2568667 |
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|
|
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Plant : |
Shiv Shakti Steel Private Limited Sponge Iron Plant MIG – 6, Housing Board Colony, Chakradhan Nagar, Raigarh, |
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Tel. No.: |
91-7762-222854 |
DIRECTORS
As on 27.12.2011
|
Name : |
Mr. Ram Prasad Agarwal |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
140/4B , N.S.C. Bose Road, Tollygunj Kolkata - 700040, West Bengal,
India |
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Date of Birth/Age : |
25.05.1954 |
|
Date of Appointment : |
21.07.1987 |
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DIN No.: |
00060359 |
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Voter ID No.: |
WB23150543039 |
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|
|
|
Name : |
Mr. Pawan Kumar Agarwal |
|
Designation : |
Managing Director |
|
Address : |
40 Hindu Colony, Stadium Circle, Vipul Dudhia Navrangpura, Ahmedabad –
380009, Gujarat, India |
|
Date of Birth/Age : |
12.09.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
21.07.1987 |
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DIN No.: |
00060418 |
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|
|
Name : |
Mr. Narayan Prasad Agarwal |
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Designation : |
Director |
|
Address : |
140/4B , N.S.C. Bose Road, Tollygunj Kolkata - 700040, West Bengal,
India |
|
Date of Birth/Age : |
12.05.1958 |
|
Date of Appointment : |
21.07.1987 |
|
DIN No.: |
00060384 |
|
Voter ID No.: |
WB23150543040 |
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|
|
|
Name : |
Mr. Saurabh
Jhunjhunwala |
|
Designation : |
Director |
|
Address : |
140/4B , N.S.C. Bose Road, Tollygunj Kolkata - 700040, West Bengal,
India |
|
Date of Birth/Age : |
12.12.1976 |
|
Date of Appointment : |
20.07.1994 |
|
DIN No.: |
00060432 |
KEY EXECUTIVES
|
Name : |
Mr. Shravan |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.12.2011
|
Names of Shareholders |
No. of Shares |
|
Pawan Kumar Agarwal |
171660 |
|
Ramprasad Agarwal |
175990 |
|
Narayan Prasad Agarwal |
60100 |
|
Saurav Jhunjunwala |
60400 |
|
Gaurav Junjhunwala |
100500 |
|
Bhagwanidevi Agarwal |
100 |
|
Revadevi Jhunjunwsala |
256000 |
|
Shilpi Jhunjunwala |
2500 |
|
Mukund Jhunjhunwala |
274250 |
|
Baijnath Agarwal and Sons (HUF) |
110500 |
|
Hansa Agarwal |
215000 |
|
Renudevi Jhunjhunwala |
281000 |
|
Narayan Prasad Agarwal and Son (HUF) |
30000 |
|
Raja Jhunjhunwala |
180500 |
|
Ram Prasad Agarwal and Sons (HUF) |
75000 |
|
Madan Mohan Maity |
4000 |
|
Kajal Trading Limited, |
1500 |
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Starlite Mercentile Limited, |
1000 |
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|
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Total |
2000000 |
Equity Share Break up (Percentage of Total Equity)
As on 27.12.2011
|
Category |
Percentage |
|
Bodies corporate |
0.12 |
|
Directors or relatives of Directors |
99.88 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hard Coke and Steam Coal,
Thermal Coal etc. |
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Products : |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
China |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Australia ·
Mexico ·
Indonesia ·
USA |
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Terms : |
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Selling : |
L/C and Credit |
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Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
|
Unit |
Installed
Capacity |
Actual
Production |
|
Martallurgical Coke |
|
M.T |
125000.000 |
18671.35 |
|
Wind Energy |
|
KW |
27860 |
4668.00 |
Note:
Production Includes 0.00 MT (Previous year
27879.056 MT) of production on job work form outsiders. Installed capacities being
technical matter, are taken as certified by technical experts.
GENERAL INFORMATION
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Suppliers : |
Not Divulged |
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Customers : |
Not Divulged |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
· Indian Overseas Bank, India Exchange Place Branch, P-35, India Exchange Place, Kolkata - 700001, West Bengal, India · Allahabad Bank, Stephen House Branch, 4, B. B. D. Bag (East), Kolkata - 700001, West Bengal, India ·
Kotak Mahindra Bank Limited, 36-38a, Nariman
Bhavan, 227,D, Nariman Point,, Mumbai - 400021, Maharashtra, India ·
Dena Bank, Ashram Road, Ahmedabad, Gujarat,
India |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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Name : |
VPC and Associates Chartered Accountants |
|
Address : |
Mercantile Building, 9/12, Lal Bazar Street, E Block, 4th
Floor, Kolkata – 700001, West Bengal, India |
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Tel. No.: |
91-33-22486879 |
|
E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AAIFR1123P |
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Associates : |
·
Frontline Corporation Limited ·
Falgun Export Private Limited ·
Falgun Financial Services Limited ·
Centre for Advanced studies in Engineering ·
Nova Impex Private Limited ·
Fair Chemical and Marketing ·
Fairdeal (Partnership firm) ·
Scientific Weighbridge (Partnership Firm) ·
Frontline Industries Limited ·
·
Prime Financial Services Limited ·
Kajal Trading Limited ·
Shiv Shakti Steels Private Limited ·
Trimurti Auto Finance Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
20.000 |
20.000 |
20.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
584.624 |
549.974 |
534.665 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
604.624 |
569.974 |
554.665 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3839.788 |
1593.158 |
725.653 |
|
|
2] Unsecured Loans |
204.810 |
54.293 |
27.270 |
|
|
TOTAL BORROWING |
4044.598 |
1647.451 |
752.923 |
|
|
DEFERRED TAX LIABILITIES |
235.866 |
254.043 |
209.543 |
|
|
|
|
|
|
|
|
TOTAL |
4885.088 |
2471.468 |
1517.131 |
|
|
|
|
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|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
922.171 |
998.926 |
1083.890 |
|
|
Capital work-in-progress |
22.200 |
0.710 |
51.212 |
|
|
|
|
|
|
|
|
INVESTMENT |
2.334 |
2.366 |
2.109 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5535.844
|
5689.981
|
861.764
|
|
|
Sundry Debtors |
450.277
|
897.270
|
712.365
|
|
|
Cash & Bank Balances |
374.412
|
636.097
|
501.293
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
652.182
|
948.207
|
955.475
|
|
Total
Current Assets |
7012.715
|
8171.555
|
3030.897
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
774.215
|
3018.848
|
60.360
|
|
|
Other Current Liabilities |
3069.068
|
3658.325
|
2582.749
|
|
|
Provisions |
5.465
|
25.217
|
8.268
|
|
Total
Current Liabilities |
3074.533
|
6702.390
|
2651.377
|
|
|
Net Current Assets |
3938.182
|
1469.165
|
379.520
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.201 |
0.301 |
0.400 |
|
|
|
|
|
|
|
|
TOTAL |
4885.088 |
2471.468 |
1517.131 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income from Operations |
4268.586 |
8600.729 |
8954.056 |
|
|
|
Other Income |
169.187 |
89.399 |
104.571 |
|
|
|
TOTAL (A) |
4437.773 |
8690.128 |
9058.627 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material Cost |
3466.477 |
6771.838 |
8096.627 |
|
|
|
Manufacturing Administration and
Selling Expenses |
199.505 |
1268.375 |
254.863 |
|
|
|
TOTAL (B) |
3665.982 |
8040.213 |
8351.490 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
771.791 |
649.915 |
707.137 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
615.274 |
419.999 |
221.609 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
156.517 |
229.916 |
485.528 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
136.493 |
156.723 |
81.669 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
20.024 |
73.193 |
403.859 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
(14.727) |
58.592 |
155.791 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
34.751 |
14.601 |
248.068 |
|
|
|
|
|
|
|
|
|
Less |
PRIOR PERIOD
ADJUSTMENT |
0.101 |
[0.708] |
0.047 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
459.983 |
444.674 |
196.914 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Amount appropriated towards defined
benefit obligations of earlier year |
0.000 |
0.000 |
0.261 |
|
|
BALANCE CARRIED
TO THE B/S |
494.633 |
459.983 |
444.674 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Claim / Dispatch |
9.865 |
7.087 |
242.715 |
|
|
|
Export sales on FOB basis |
908.447 |
1195.522 |
1600.811 |
|
|
TOTAL EARNINGS |
918.312 |
1202.609 |
1843.526 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Import Value |
462.025 |
5144.603 |
5118.461 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
17.32 |
7.65 |
124.01 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.78 |
0.17
|
2.74
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.47 |
0.85
|
4.51
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.25 |
0.80
|
9.81
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
0.13
|
0.73
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
6.69 |
2.89
|
1.36
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.28 |
1.22
|
1.14
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
20.000 |
20.000 |
20.000 |
|
Reserves & Surplus |
534.665 |
549.974 |
584.624 |
|
Net
worth |
554.665 |
569.974 |
604.624 |
|
|
|
|
|
|
Secured Loans |
725.653 |
1593.158 |
3839.788 |
|
Unsecured Loans |
27.270 |
54.293 |
204.810 |
|
Total
borrowings |
752.923 |
1,647.451 |
4,044.598 |
|
Debt/Equity
ratio |
1.357 |
2.890 |
6.689 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8954.056 |
8600.729 |
4268.586 |
|
|
|
(3.946) |
(50.369) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2008 |
31.03.2009 |
31.03.2010 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
8954.056 |
8600.729 |
4268.586 |
|
Profit |
248.068 |
14.601 |
34.751 |
|
|
2.77% |
0.17% |
0.81% |
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
LITIGATION DETAILS
CALCUTTA HIGH COURT
CASE STATUS INFORMATION SYSTEM
Case
Status : Pending
|
Status of CONTEMPT OF COURT CA(CC) 108 of 2013 R . PIYARELALL IRON AND STEEL PRIVATE LIMITED Vs. FAIRDEAL SUPPLIES LIMITED AND ORS Pet's Adv. : I . C. SANCHETI AND COMPANY. Res's Adv. : Court No. : 18 Next Date of Hearing : Friday, April 04, 2014 Last Listed On : Friday, March 07, 2014 Category : CIVIL CONTEMPT
Case Updated on: Monday, March 10, 2014 |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2010 |
31.03.2009 |
|
|
(Rs. In Millions) |
|
|
Intercorporate Loan |
194.684 |
42.288 |
|
From Share Holders |
7.171 |
6.961 |
|
From Directors |
2.955 |
5.044 |
|
Total |
204.810 |
54.293 |
OPERATIONS
The Company is
facing impact of the economic slowdown which started in the previous year.
However the expansion and diversification projects already undertaken earlier,
has enabled the Company to offset unfavorable conditions to some extent. The
Company feels that the process of economic revival has already started and in
the coming years it shall be able to overcome the impact of recession with the
motivated team of employees and support of their bankers, customers etc.
During the year
the sales turn over of the Company has decreased from Rs. 8600.729 millions to
Rs 4268.587 millions. The Profit before Depreciation, other Provisions and Taxes
are 156.518 millions against Rs. 229.916 millions in the previous year
registering a decrease of 32% approximately. over the last year. The Profit
after making Provision for income Tax, Deferred Income Tax - Current Year and
Previous Year and Prior Period Adjustments stood at Rs. 34.752 millions as
against Rs. 14.601 millions in the previous year.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER
(SRN) |
|
1 |
10235423 |
06/08/2010 |
2,930,000.00 |
KOTAK MAHINDRA BANK LIMITED |
36-38A, NARIMAN
BHAVAN, 227,D, NARIMAN POINT, MUMBAI, MAHARASHTRA - 400021, INDIA |
A92774694 |
|
2 |
10214459 |
08/04/2011 * |
345,000,000.00 |
ALLAHABAD BANK |
STEPHEN HOUSE
BRANCH, 4, B. B. D. BAG (EAST), KOLKATA, WEST BENGAL - 700001, INDIA |
B13534615 |
|
3 |
10172062 |
24/08/2009 |
150,000,000.00 |
VIJAYA BANK |
OVERSEAS BRANCH,
125/1 PARK STREET, KOLKATA, WEST |
A68396266 |
|
4 |
10161771 |
29/08/2009 * |
315,000,000.00 |
PUNJAB AND SIND BANK |
MAIN BRANCH, 8
OLD COURT HOUSE STREET, KOLKATA, WEST BENGAL - 700001, INDIA |
A68314863 |
|
5 |
10120237 |
01/09/2008 |
252,000,000.00 |
PUNJAB AND SIND BANK |
8 OLD COURT
HOUSE STREET, KOLKATA, WEST BENGAL - 7 |
A44566784 |
|
6 |
10116825 |
28/09/2012 * |
747,100,000.00 |
INDIAN OVERSEAS BANK |
INDIA EXCHANGE
PLACE BRANCH, P-35, INDIA EXCHANGE |
B62561899 |
|
7 |
10097753 |
10/02/2010 * |
250,000,000.00 |
JAMMU AND KASHMIR BANK LIMITED |
KOLKATA MAIN
BRANCH, 6D, R. N. MUKHERJEE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
A81484248 |
|
8 |
10109102 |
16/10/2006 |
327,500,000.00 |
STATE BANK OF INDIA |
COMMERCIAL
BRANCH, PARAM SIDDHI COMPLEX, ELLIS BRIDGE, AHMEDABAD, GUJARAT - 380006,
INDIA |
A14701791 |
|
9 |
90253000 |
26/02/2008 * |
350,000,000.00 |
DENA BANK |
OVERSEAS BUSINESS
BRANCH, II FLOOR, DENA LAXMI BUILDING, ASHRAM ROAD, AHMEDABAD, GUJARAT -
380009, |
A34499533 |
|
10 |
90254556 |
01/02/2005 |
250,000,000.00 |
ICICI BANK LIMITED |
20; SIR R.N.
MUKHERJEE ROAD, KOLKATA, WEST BENGAL - 700001, INDIA |
- |
*
Date of charge modification
CONTINGENT
LIABILITIES:
|
Particulars |
31.03.2010 |
31.03.2009 |
|
|
(Rs. in Millions) |
|
|
Bank Guarantee issued |
8.200 |
5.345 |
|
Suit Filed against the company |
7.900 |
7.900 |
|
Anti Dumpint Duty |
27.114 |
27.115 |
|
Disputed Income Tax Demands |
Nil |
1.170 |
FIXED ASSETS:
·
· Building
· Plant and Machinery
· Vehicles
· Furniture and Fixtures
· Ship
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.61.02 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.85.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
1 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
1 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
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 |
|
11 |
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.