MIRA
INFORM REPORT
|
Report Date : |
14.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
TULSI PAPER MILLS PRIVATE LIMITED (w.e.f. 24.11.2009) |
|
|
|
|
Formerly Known
As : |
RANBHUMI COMMODITIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
70, Cotton
Street, 2nd Floor, Kolkata – 700007, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
25.01.2007 |
|
|
|
|
Com. Reg. No.: |
21-112757 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 2.750
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109WB2007PTC112757 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Paper and Paper Board. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 666000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Even though the company was incorporated as on January 25, 2007, it
has started its business activity from March 2013. In its first year of business operations, the company has reported a
loss from its operations. External borrowings seems to be increasing over
previous year, during 2013. The ratings also take into consideration the subjects’ operations in
the highly competitive and unorganized industry, susceptibility to volatility
in raw materials and foreign exchange fluctuation. However, trade relations are fair. Business is active. Payment terms
are reported as slow but correct. The company can be considered for business dealings with some caution.
|
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
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.
The gross non-performing assets
of listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months
of the financial year. In absolute terms, the 40 listed banks added Rs 3386
crore to their gross NPAs in nine months with the State Bank of India leading
with the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term Bank Facilities: BB- |
|
Rating Explanation |
Moderate risk of default. |
|
Date |
May 09, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term Bank Facilities: A4 |
|
Rating Explanation |
Minimal degree of safety and very high
credit risk. |
|
Date |
May 09, 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 : |
Mr. Ashokkumar Khimjibhai Gangani |
|
Designation : |
Director |
|
Contact No.: |
91-9825170382 |
|
Date : |
13.03.2014 |
LOCATIONS
|
Registered Office : |
70, Cotton
Street, 2nd Floor, Kolkata – 700007, West Bengal, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9825170382 (Mr. Ashokkumar Khimjibhai Gangani) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Locality : |
Commercial |
|
|
|
|
Factory : |
Block No.356 to 359, Village: Dastan, Kododara Dadoli Road,
Taluka-Palsana, Surat – 394110, Gujarat, India |
DIRECTORS
AS ON 13.09.2013
|
Name : |
Mr. Jatan Lal Manikchand Daga |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
A-806, Megh Malhar Apartment, Bhatar Road, Surat – 395017, Gujarat,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.04.1963 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
01237883 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Ashok Kumar Manikchand Daga |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
A-805, Megh Malhar Apartment, Bhatar Road, Surat – 395017, Gujarat,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.07.1973 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
01479502 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Ms. Sarita Lalitkumar Daga |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
B-601, Meghmalhar Apartment, Near Vidhyabharti School, Bhatar Road,
Surat – 395017, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
01.07.1967 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
01496868 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Ashokkumar Khimjibhai Gangani |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
30-A, Kala Kunj Society, Varachha Road, Surat – 395006, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
21.09.1978 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
02859243 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Ms. Bhavika Mahendra Patel |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
24, Anupam Bunglows, Bharthana, Surat – 395007, Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
09.10.1986 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
02861644 |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Jayesh Valjibhai Gangani |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
11, Kalakunj Society, Near Water Works, Varachha Road, Surat – 395006,
Gujarat, India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.04.1985 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
01.12.2009 |
|||||||||||||||||||||||||||
|
DIN No.: |
02872193 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 13.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Revaben Gangani |
|
7500 |
|
Chandrikaben Gangani |
|
5100 |
|
Daga Impex Private Limited, India
|
|
12700 |
|
Kantilal Gangani |
|
7200 |
|
Lalit Kumar Daga |
|
13100 |
|
Hemrajbhai Gangani |
|
6800 |
|
Daga Polymers Private Limited, India
|
|
11600 |
|
Jatan Lal Daga |
|
24800 |
|
Jayaben Gangani |
|
7600 |
|
Ashok Kumar Daga |
|
17200 |
|
Anupama Daga |
|
11400 |
|
Khimji Bhai Gangani |
|
10500 |
|
Pinki Daga |
|
12600 |
|
Sarita Daga |
|
26100 |
|
Rashilaben Gangani |
|
6600 |
|
Damjibhai Gangani |
|
8800 |
|
Bhavikaben Patel |
|
9600 |
|
Mahendra Kumar Patel |
|
10000 |
|
Praffula Patel |
|
9600 |
|
Dahiben Patel |
|
10000 |
|
Jayaben Gangani |
|
13400 |
|
Neha Daga |
|
4600 |
|
Seema Daga |
|
5000 |
|
Jayesh Gangani |
|
12200 |
|
Ashok Kumar Gangani |
|
11000 |
|
|
|
|
|
Total |
|
275000 |
AS ON 13.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
8.84 |
|
Directors
or relatives of directors |
|
91.16 |
|
|
|
|
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Paper and Paper Board. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials and Waste Paper |
|
Countries : |
· Netherlands |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers and End Users ·
Daga Impex Private Limited |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
80 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India Mid Corporate
Group Industrial Finance Branch, Marble Arch, Race Course Circle, Vadodara –
390007, Gujarat, India Contact No.: 91-265-2331880
(Ringing) Bank of Baroda HDFC Bank Limited IDBI Bank Limited Kotak Mahindra Bank Limited (Surat) Union Bank of India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Note: LONG TERM
BORROWINGS Term loan of the
company secured by equitable mortgage over land and building therein situated
at Block No.356 to 359, Village Dastan, Taluka Palsana, Sutat as well as Hypothecation of
plant and machinery acquired by company out of bank finance at above land and
building. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Surendra K. Sharma and Company Chartered Accountants |
|
Address : |
201/451, Textile Market, Ring Road, Surat – 395 002, Gujarat, India |
|
PAN No.: |
AQZPS9047C |
CAPITAL STRUCTURE
AFTER 13.09.2013
Authorised Capital : Rs. 5.000 Millions
Issued, Subscribed & Paid-up Capital : Rs. 4.065
Millions
AS ON 13.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
320000 |
Equity Shares |
Rs.10/- each |
Rs. 3.200 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
275000 |
Equity Shares |
Rs.10/- each
|
Rs. 2.750
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 |
2.750 |
2.750 |
2.750 |
|
(b) Reserves & Surplus |
111.271 |
129.676 |
129.623 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
52.600 |
2.500 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
166.621 |
134.926 |
132.373 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
338.573 |
91.547 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
16.851 |
0.000 |
0.000 |
|
(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) |
355.424 |
91.547 |
0.000 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
29.075 |
0.000 |
1.000 |
|
(b)
Trade payables |
29.900 |
4.859 |
0.653 |
|
(c)
Other current liabilities |
0.000 |
0.000 |
0.008 |
|
(d) Short-term
provisions |
0.211 |
0.056 |
0.000 |
|
Total Current
Liabilities (4) |
59.186 |
4.915 |
1.661 |
|
|
|
|
|
|
TOTAL |
581.231 |
231.388 |
134.034 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
448.344 |
5.580 |
22.450 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
149.855 |
0.000 |
|
(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 |
10.041 |
50.992 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
2.020 |
0.000 |
|
Total Non-Current
Assets |
458.385 |
208.447 |
22.450 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
26.770 |
|
(b)
Inventories |
55.425 |
0.000 |
1.000 |
|
(c)
Trade receivables |
0.946 |
0.000 |
15.276 |
|
(d) Cash
and cash equivalents |
17.270 |
10.091 |
26.146 |
|
(e)
Short-term loans and advances |
49.205 |
12.850 |
42.392 |
|
(f)
Other current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
122.846 |
22.941 |
111.584 |
|
|
|
|
|
|
TOTAL |
581.231 |
231.388 |
134.034 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
0.847 |
1.000 |
0.000 |
|
|
|
Other Income |
0.265 |
0.001 |
0.115 |
|
|
|
TOTAL (A) |
1.112 |
1.001 |
0.115 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
|
1.000 |
0.000 |
|
|
|
Employee Benefit Expenses |
|
0.000 |
0.144 |
|
|
|
Other Administrative Expenses |
|
0.000 |
0.069 |
|
|
|
TOTAL (B) |
1.175 (including
financial expenses) |
1.000 |
0.213 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.001 |
(0.098) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
0.001 |
0.003 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)
(E) |
(0.063) |
0.000 |
(0.101) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.491 |
0.000 |
0.010 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
(1.554) |
0.000 |
(0.111) |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
16.851 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
(18.405) |
0.000 |
(0.111) |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
(66.93) |
0.00 |
(0.40) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
(1655.13)
|
0.00 |
(96.52)
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(183.47)
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(0.27)
|
0.00 |
(0.08)
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01)
|
0.00 |
0.00
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.21
|
0.68 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
4.67 |
67.18 |
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 |
2.750 |
2.750 |
2.750 |
|
Reserves & Surplus |
129.623 |
129.676 |
111.271 |
|
Share Application money pending allotment |
0.000 |
2.500 |
52.600 |
|
Net worth |
132.373 |
134.926 |
166.621 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
91.547 |
338.573 |
|
Short term borrowings |
1.000 |
0.000 |
29.075 |
|
Total
borrowings |
1.000 |
91.547 |
367.648 |
|
Debt/Equity
ratio |
0.008 |
0.678 |
2.206 |
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 |
0.000 |
1.000 |
0.847 |
|
|
|
|
(15.300) |
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 |
0.000 |
1.000 |
0.847 |
|
Profit |
(0.111) |
0.000 |
(18.405) |
|
|
|
0.00% |
(2172.96%) |
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 |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
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 |
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 |
10305429 |
01/11/2012 * |
576,600,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE
GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA,
GUJARAT - 390007, INDIA |
B62576368 |
|
2 |
10307959 |
08/09/2011 |
576,600,000.00 |
STATE BANK OF
INDIA |
MID CORPORATE GROUP
INDUSTRIAL FINANCE BRANCH, MARBLE ARCH, RACE COURSE CIRCLE, VADODARA, GUJARAT
|
B21337951 |
* Date of charge modification
|
Unsecured Loans |
31.03.2013 (Rs.
in Millions) |
31.03.2012 (Rs.
in Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Agency Deposit from Customers |
2.500 |
0.000 |
|
Loans and
Advances From Related Parties |
8.200 |
0.000 |
|
Loans From
Directors |
6.050 |
0.000 |
|
|
|
|
|
Total |
16.750 |
0.000 |
PERFORMANCE, PROSPECTS AND OPPORTUNITIES:
During the year,
the company has set up its factory unit and has commenced manufacturing of
paper and paper boards. The company has achieved turnover of Rs.0.847 million
and has suffered loss of Rs.18.405 Millions mainly on account of deferred tax
during the year. The Company will turn profitability on stabilization of its
operation.
The directors are
making their best efforts to improve the performance of company and are
confident that company will grow at rapid pace for coming years.
FIXED ASSETS:
Tangible Assets
· Land
Building
Plant
and Machinery
Power
Plant
Electric
Installation
Vehicles
(Cars)
Computer
Air
Conditioner
Telephone
System
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 : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.