MIRA INFORM REPORT
|
Report Date : |
29.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
N R AGARWAL INDUSTRIES LIMITED |
|
|
|
|
Registered
Office : |
415-418, Janki Centre, 4th Floor, 29 Shah Industrial
Estate, Andheri (West), Mumbai – 400058, Maharashtra |
|
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|
Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.12.1993 |
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Com. Reg. No.: |
11-133365 |
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Capital
Investment / Paid-up Capital : |
Rs.170.191
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
L22210MH1993PLC133365 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN7721N |
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|
|
|
Legal Form : |
A Public Limited Liability Company. The Company’s Shares are Listed on
the Stock Exchanges. |
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Line of Business
: |
Manufacture of Paper Boards and Newsprint. |
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|
|
|
No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
B (34) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 4400000 |
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|
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. The rating reflects company’s moderate financial risk profile marked by
increased in external borrowing over a year and sharp dip in profit of the
company. However, trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing 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
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s contracts
from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The Central
Bureau of Investigation will look into allegations that over $80 million was
paid in kickbacks in a deal signed in 2011. India has asked Boeing Co. to
find a solution for problems with state-owned Air India’s 787 Dreamliners. The
aircraft has experienced a series of malfunctions since its debut in 2011.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DECLINED
Management Non Cooperative (91-22-67317500)
LOCATIONS
|
Registered/ Corporate Office : |
415-418, Janki Centre, 4th Floor, 29 Shah Industrial
Estate, Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Tel. No.: |
91-22-26730667/ 26730570/ 26730668/ 26730913/ 14/ 17/ 2639215/ 56/ 57/
26347316/ 67317500 |
|
Fax No.: |
91-22-26730667/ 26730227/ 26320686 |
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E-Mail : |
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|
Website : |
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Location : |
Owned |
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Factory 1: |
Plot No.169/1 GIDC, Phase – II, Vapi Gujarat – 396195, |
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Tel. No.: |
91-260-2401634 |
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Fax No.: |
91-260-2431706 |
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Email : |
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Factory 2: |
Plot No. 1, Phase 1, GIDC, Vapi, District Valsad – 396195,
Gujarat, India |
|
Tel. No.: |
91-260-2431942 |
|
Fax No.: |
91-260-2426979/ 2428320 |
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Email : |
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Factory 3: |
Plot No. 901.3rd Phase, GIDC, Vapi. Dist.: Valsad
(Gujarat) – 396195, India |
|
Tel No.: |
91-260 - 2400052 / 242 1124 |
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Fax No.: |
91-260 - 2401836 |
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Email : |
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Factory 4: |
Plot No. 901/P, 3rd Phase, GIDC, Vapi – 396195, Gujarat, India |
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Tel No.: |
91-260-2400052/ 2421124 |
|
Fax No.: |
91-260-2401836 |
|
Email : |
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Factory 5: |
Sarigam, Taluka, Umbergaon, District Valsad, Gujarat, India |
DIRECTORS
As on 30.09.2013
|
Name : |
Mr. Rajendra Nagin Agarwal |
|
Designation : |
Chairman and Managing Director |
|
Address : |
5, Sunnyside Lokhandwala Complex, Andheri (West), Mumbai – 400058,
Maharashtra, India |
|
Date of Birth : |
21.07.1960 |
|
Date of Appointment : |
08.12.1993 |
|
DIN No.: |
00176440 |
|
PAN No. : |
ADDPA2331G |
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|
|
|
Name : |
Mr. Raunak Rajendra Agarwal |
|
Designation : |
Whole time Director |
|
Address : |
5, Sunnyside Lokhandwala Complex, Andheri (West), Mumbai – 400058,
Maharashtra, India |
|
Date of Birth : |
07.12.1988 |
|
Date of Appointment : |
01.05.2008 |
|
DIN No.: |
02173330 |
|
PAN No. : |
AKMPA2758B |
|
|
|
|
Name : |
Mr. Sachin Nath Chaturvedi |
|
Designation : |
Director |
|
Address : |
2803, Shreepati Arcade, A K Marg, Nana Chowk, Mumbai – 400036,
Maharashtra, India |
|
Date of Birth : |
29.09.1950 |
|
Date of Appointment : |
08.03.1994 |
|
DIN No.: |
00553459 |
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|
|
|
Name : |
Mr. Parduman Kumar |
|
Designation : |
Director |
|
Address : |
Flat No.308, Sunrise Apartment, Shastri Nagar, Andheri (West), Mumbai
– 400053, Maharashtra, India |
|
Date of Birth : |
23.08.1937 |
|
Date of Appointment : |
05.08.2005 |
|
DIN No.: |
00179074 |
|
|
|
|
Name : |
Mr. Radhakrishnan Ramchandra Iyer Chirayathu Matom |
|
Designation : |
Director |
|
Address : |
B-4, Swami Vivekanand Housing Society, Veera Desai Cross Road, Andheri
(West), Mumbai – 400058, Maharashtra, India |
|
Date of Birth : |
10.11.1945 |
|
Date of Appointment : |
27.02.2007 |
|
DIN No.: |
01309312 |
|
|
|
|
Name : |
Mr. Mangilal Bhikhaji Suthar |
|
Designation : |
Additional Executive Director |
|
Address : |
Flat No.104, Onheight Ashopalav Complex, Chharwada Road, Vapi –
396191, Gujarat, India |
|
Date of Birth : |
06.10.1952 |
|
Date of Appointment : |
11.11.2011 |
|
DIN No.: |
03634697 |
|
PAN No. : |
AHPPS9197L |
KEY EXECUTIVES
|
Name : |
Ms. Hemali Jawahar Sheth |
|
Designation : |
Company Secretary and Compliance Officer |
|
Address : |
3-E, 1003 Damodar Park, LBS Marg, Ghatkopar (West), Mumbai – 400086,
Maharashtra, India |
|
Date of Birth/ Age : |
19.06.1988 |
|
Date of Appointment : |
09.02.2011 |
|
PAN No.: |
BGIPS8616K |
|
|
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|
Name : |
Mr. Gopal Uchil |
|
Designation : |
Chief Financial Officer |
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|
Name : |
Mr. Mahesh |
|
Designation : |
Accounts Department |
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|
Name : |
Mr. R N Agarwal |
|
Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
SHAREHOLDING DETAILS FILE ATTACHED
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Nationalised or other banks |
0.01 |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
0.89 |
|
Bodies corporate |
7.57 |
|
Directors or relatives of Directors |
73.22 |
|
Other top fifty shareholders |
6.29 |
|
Other |
12.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Paper Boards and Newsprint. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
Chaturvedi and Partners Chartered Accountants |
|
Address : |
81, Mittal Chambers, 228, Nariman Point, Mumbai 400 021, Maharashtra,
India |
|
PAN No.: |
AAEFC0158M |
CAPITAL STRUCTURE
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22500000 |
Equity Shares |
Rs.10/- each |
Rs.225.000 Millions |
|
2500000 |
Preference Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
Total |
|
Rs.250.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
17019100 |
Equity Shares |
Rs.10/- each |
Rs.170.191
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 |
170.191 |
170.191 |
170.191 |
|
(b) Reserves & Surplus |
931.160 |
885.241 |
753.402 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
14.625 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
1101.351 |
1055.432 |
938.218 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
1681.408 |
1470.495 |
1318.593 |
|
(b) Deferred tax liabilities (Net) |
156.853 |
160.699 |
161.369 |
|
(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) |
1838.261 |
1631.194 |
1479.962 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
497.475 |
518.286 |
381.758 |
|
(b) Trade
payables |
987.804 |
804.632 |
687.947 |
|
(c) Other
current liabilities |
188.099 |
330.151 |
347.133 |
|
(d) Short-term
provisions |
12.265 |
42.608 |
51.085 |
|
Total Current
Liabilities (4) |
1685.643 |
1695.677 |
1467.923 |
|
|
|
|
|
|
TOTAL |
4625.255 |
4382.303 |
3886.103 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
1241.341 |
1167.923 |
1140.026 |
|
(ii)
Intangible Assets |
1.311 |
2.075 |
0.047 |
|
(iii)
Capital work-in-progress |
2033.932 |
1984.224 |
1332.493 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
1.872 |
1.869 |
1.873 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
141.673 |
141.298 |
372.476 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
3420.129 |
3297.389 |
2846.915 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
306.865 |
328.093 |
312.584 |
|
(c) Trade
receivables |
572.538 |
553.547 |
464.230 |
|
(d) Cash
and cash equivalents |
71.703 |
77.581 |
115.603 |
|
(e) Short-term
loans and advances |
254.020 |
125.693 |
146.771 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
1205.126 |
1084.914 |
1039.188 |
|
|
|
|
|
|
TOTAL |
4625.255 |
4382.303 |
3886.103 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
5122.884 |
4925.971 |
4669.008 |
|
|
|
Other Income |
38.011 |
43.447 |
30.953 |
|
|
|
TOTAL (A) |
5160.895 |
4969.418 |
4699.961 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
3190.292 |
3118.585 |
2813.47 |
|
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(7.240) |
(14.917) |
(11.686) |
|
|
|
Employees benefits expense |
195.270 |
174.329 |
167.08 |
|
|
|
Prior Year Adjustments |
0.000 |
0.000 |
(1.476) |
|
|
|
Other expenses |
1531.770 |
1322.362 |
1209.111 |
|
|
|
TOTAL (B) |
4910.092 |
4600.359 |
4176.499 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
250.803 |
369.059 |
523.462 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
103.560 |
102.774 |
76.604 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
147.243 |
266.285 |
446.858 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
94.577 |
90.335 |
84.817 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.666 |
175.950 |
362.041 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.747 |
35.000 |
83.078 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
45.919 |
140.950 |
278.963 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
790.363 |
677.549 |
450.108 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
4.400 |
15.800 |
|
|
|
Dividend |
0.000 |
20.423 |
30.634 |
|
|
|
Tax on Dividend |
0.000 |
3.313 |
5.088 |
|
|
BALANCE CARRIED TO
THE B/S |
836.282 |
790.363 |
677.549 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
840.900 |
240.546 |
152.922 |
|
|
TOTAL EARNINGS |
840.900 |
240.546 |
152.922 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
|
|
788.677 |
578.726 |
|
|
|
Stores & Spares |
NA |
18.516 |
8.825 |
|
|
|
Capital Goods |
|
123.762 |
130.698 |
|
|
TOTAL IMPORTS |
NA |
930.955 |
718.249 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
2.70 |
8.28 |
16.39 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.89 |
2.84 |
5.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.03 |
3.57 |
7.75 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.03 |
7.34 |
14.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05 |
0.17 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.98 |
1.88 |
1.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.71 |
0.64 |
0.71 |
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 |
170.191 |
170.191 |
170.191 |
|
Reserves & Surplus |
753.402 |
885.241 |
931.160 |
|
Net
worth |
923.593 |
1055.432 |
1101.351 |
|
|
|
|
|
|
long-term borrowings |
1318.593 |
1470.495 |
1681.408 |
|
Short term borrowings |
381.758 |
518.286 |
497.475 |
|
Total
borrowings |
1700.351 |
1988.781 |
2178.883 |
|
Debt/Equity
ratio |
1.841 |
1.884 |
1.978 |
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 |
4669.008 |
4925.971 |
5122.884 |
|
|
|
5.504 |
3.997 |
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 |
4669.008 |
4925.971 |
5122.884 |
|
Profit |
278.964 |
140.950 |
45.919 |
|
|
5.97% |
2.86% |
0.90% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info
Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
---------------------- |
|
26] |
Buyer visit details |
---------------------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
PERFORMANCE REVIEW
AND OPERATIONS
The Company has recorded a turnover of Rs. 5122.884 Millions during the year 2012-13, registering a growth of 4% over the turnover of previous year.
However, profit before tax decreased from Rs. 175.950 Millions to Rs. 52.665 Millions registering a decline of 70.07 % whereas profit after tax decreased from Rs. 140.950 Millions to Rs. 45.919 Millions registering a decline of 67.42%. The Earning Per Share also reduced from Rs. 8.28 per share to Rs. 2.70 per share.
Inspite of recording a better sales number during the financial year 2012-13, the rising interest cost, rise in input cost and slowdown in global economies saw pressure on the Companys financials during this period.
UNSECURED LOAN
Rs. In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Deposits from directors |
136.606 |
126.756 |
|
Deposits from others |
82.450 |
8.143 |
|
Total |
219.056 |
134.899 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10365894 |
02/07/2012 |
4,361,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B43772714 |
|
2 |
10372830 |
02/07/2012 |
2,400,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B56483548 |
|
3 |
10258143 |
07/12/2013 * |
311,700,000.00 |
THE SARASWAT CO-OP BANK LIMITED |
SARASWAT BANK BHAVAN, PLOT NO. 953, APPASAHEB MARATHE MARG, PRABHADEVI, MUMBAI, MAHARASHTRA - 400025, INDIA |
B94840519 |
|
4 |
10206267 |
18/02/2010 |
69,500,000.00 |
BANK OF INDIA |
28, ANDHERI CORPORATE BANKING BRANCH, S V ROAD, ANDHERI WEST, MUMBAI, MAHARASHTRA - 400053, INDIA |
A80709769 |
|
5 |
10194775 |
07/12/2013 * |
2,273,300,000.00 |
BANK OF BARODA |
VAPI INDUSTRIAL ESTATE BRANCH, C/M 14, GIDC, NEAR |
B94841756 |
|
6 |
10107009 |
07/12/2013 * |
1,159,000,000.00 |
BANK OF BARODA |
VAPI INDUSTRIAL ESTATE BRANCH, C/M 14, GIDC, NEAR |
B94841277 |
* Date of charge modification
FIXED ASSETS
- Land
- Leasehold Land
- Factory Building
- Plant and Machinery
- Furniture and Fixture
- Vehicles
- Other – Building
- Computers
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.60.10 |
|
|
1 |
Rs.99.85 |
|
Euro |
1 |
Rs.82.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.