MIRA INFORM REPORT
|
Report Date : |
02.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KRIS FLEXIPACKS PRIVATE LIMITED (w.e.f. 31.07.2007) |
|
|
|
|
Formerly Known
As : |
NIKITA PLAST INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
65, Shanti Industrial Estate, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
06.03.2007 |
|
|
|
|
Com. Reg. No.: |
11-168369 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.100.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH2007PTC168369 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN14534C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN4672Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is
engaged in the manufacturing and selling of high quality of Packaging Products
like Shrink Sleeves, Laminates, Polly Rolls, Garment Bags, Pick up Bags and
Digital Printed Products. |
|
|
|
|
No. of Employees
: |
Information declined by the Management |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3000000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Financial position of the company appears to be good. Trade relations are reported as decent. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and January
of 2013/14 which has seen some signs of recovery according to a Care Ratings
report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
Long Term = BBB+ |
|
Rating Explanation |
Moderate degree of safety and carry moderate credit risk. |
|
Date |
October, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
Short Term = A3+ |
|
Rating Explanation |
Moderate degree of safety and carry higher credit risk. |
|
Date |
October, 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 DECLINED
Management Non-Cooperative (91-22-67742222)
LOCATIONS
|
Registered Office : |
65, Shanti Industrial Estate, |
|
Tel. No.: |
91-22-67742222/ 25907080 |
|
Fax No.: |
91-22-67742222/ 67742399/ 67973894 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned (They have 6 to 7 Galas in same premises) |
|
|
|
|
Head Office : |
Plot No.A-39, Road No.11, Wagle Industrial Estate, Thane (West), Thane
- 400 604, Maharashtra, India |
|
Tel. No.: |
91-22-30948000 |
|
Fax No.: |
91-22-30948080 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Located at:
|
|
|
|
|
Branch Office : |
101, Alpha, |
|
|
|
|
Sales Office : |
Located at:
|
DIRECTORS
As on 06.09.2013
|
Name : |
Mr. Shailesh Gulabchand Sheth |
|
Designation : |
Managing Director |
|
Address : |
1002, |
|
Date of Birth/Age : |
12.01.1960 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5920R |
|
00206159 |
|
|
|
|
|
Name : |
Mr. Peranamallur Narayanaswamy Devrajan |
|
Designation : |
Director |
|
Address : |
A-1, Ground Floor, Nav Munjal Nagar-2, Chembur, Mumbai – 400 089, |
|
Date of Birth/Age : |
15.02.1935 |
|
Date of Appointment : |
23.07.2011 |
|
DIN No.: |
00003842 |
|
|
|
|
Name : |
Mr. Govind Raghavan Venkatraman |
|
Designation : |
Director |
|
Address : |
Flat No.171/172, 17th Floor, Kalpataru Residency, |
|
Date of Birth/Age : |
16.07.1945 |
|
Date of Appointment : |
23.07.2011 |
|
DIN No.: |
00008683 |
|
|
|
|
Name : |
Mr. Viresh Gulabchand Sheth |
|
Designation : |
Director |
|
Address : |
1002, |
|
Date of Birth/Age : |
28.08.1964 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAYPS5919A |
|
DIN No.: |
00217977 |
|
|
|
|
Name : |
Mr. Rajesh Gulabchand Sheth |
|
Designation : |
Director |
|
Address : |
1002, |
|
Date of Birth/Age : |
23.10.1961 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
06.03.2007 |
|
PAN No.: |
AAZPS8968A |
|
DIN No.: |
00223733 |
|
|
|
|
Name : |
Mr. Ravi Chaturvedi |
|
Designation : |
Director |
|
Address : |
750, |
|
Date of Birth/Age : |
14.11.1959 |
|
Date of Appointment : |
23.07.2011 |
|
DIN No.: |
02787181 |
KEY EXECUTIVES
|
Name : |
Mr. Balduwa Damodar Sohanlal |
|
Designation : |
Secretary |
|
PAN No.: |
AAYPB0754C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 06.09.2013
|
Names of Shareholders |
|
No. of Shares |
|
Shailesh Gulabchand Sheth |
|
2700144 |
|
Rajesh Gulabchand Sheth |
|
1349972 |
|
Viresh Gulabchand Sheth |
|
1349972 |
|
Packaging Destinations Private Limited, |
|
1599970 |
|
Packaging Flexi Business Private Limited, |
|
699988 |
|
Packaging Properties Private Limited, |
|
699988 |
|
Varsha Shailesh Sheth |
|
799982 |
|
Aarti Rajesh Sheth |
|
399992 |
|
Tina Viresh Sheth |
|
399992 |
|
Total
|
|
10000000 |
As on 06.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Bodies corporate |
30.00 |
|
Directors or relatives of Directors |
70.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in the manufacturing and selling of high quality of Packaging
Products like Shrink Sleeves, Laminates, Polly Rolls, Garment Bags, Pick up
Bags and Digital Printed Products. |
||||||||||||
|
|
|
||||||||||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
· The Saraswat Co-operative Bank Limited, Thane Nagar Vachnalay Mandir Building, Tembhinaka, Thane – 400 602, Maharashtra, India · The Saraswat Co-Operative Bank Limited, Mulund Branch, Mulund, Mumbai – 400 080, Maharashtra, India
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
K.A. Gandhi and Associates Chartered Accountants |
|
Address : |
14-B, Vaibhav, 1st Floor, Corner of |
|
Tel. No.: |
91-22-25675205/ 25686061 |
|
Fax No.: |
91-22-25686061 |
|
PAN No.: |
AAJFK1030F |
|
|
|
|
Joint venture : |
KRIS Automated Packaging Systems Private Limited |
|
|
|
|
Enterprises over which
significant influence by : |
|
CAPITAL STRUCTURE
As on 06.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
5000000 |
Preference Shares |
Rs.10/- each |
Rs.50.000 Millions |
|
|
Total
|
|
Rs.150.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
100.000 |
100.000 |
100.000 |
|
(b) Reserves & Surplus |
664.677 |
610.149 |
575.874 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
764.677 |
710.149 |
675.874 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
215.053 |
165.499 |
234.269 |
|
(b) Deferred tax liabilities (Net) |
33.004 |
33.201 |
24.980 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
6.383 |
5.551 |
3.330 |
|
Total Non-current
Liabilities (3) |
254.440 |
204.251 |
262.579 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
643.482 |
660.127 |
542.024 |
|
(b) Trade
payables |
365.367 |
217.589 |
136.908 |
|
(c) Other
current liabilities |
175.764 |
188.849 |
200.151 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
1.819 |
|
Total Current
Liabilities (4) |
1184.613 |
1066.565 |
880.902 |
|
|
|
|
|
|
TOTAL |
2203.730 |
1980.965 |
1819.355 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
619.726 |
674.571 |
685.030 |
|
(ii)
Intangible Assets |
0.855 |
1.413 |
1.710 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
6.384 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
19.072 |
12.474 |
7.473 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
74.444 |
76.194 |
75.295 |
|
(e) Other
Non-current assets |
13.965 |
6.166 |
8.292 |
|
Total Non-Current Assets |
728.062 |
770.818 |
784.184 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
586.065 |
386.440 |
309.878 |
|
(c) Trade
receivables |
685.104 |
665.761 |
567.836 |
|
(d) Cash
and cash equivalents |
26.302 |
16.826 |
23.821 |
|
(e)
Short-term loans and advances |
104.956 |
92.490 |
86.276 |
|
(f) Other
current assets |
73.241 |
48.630 |
47.360 |
|
Total
Current Assets |
1475.668 |
1210.147 |
1035.171 |
|
|
|
|
|
|
TOTAL |
2203.730 |
1980.965 |
1819.355 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2425.000 |
2401.500 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2441.400 |
2425.000 |
2401.500 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
2095.900 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
2383.200 |
2370.700 |
2095.900 |
|
|
|
(Including
Financial and Depreciation Expenses ) |
(Including
Financial and Depreciation Expenses ) |
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
305.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
73.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
232.000 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
56.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
58.200 |
54.300 |
175.900 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
3.700 |
19.100 |
41.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
54.500 |
35.200 |
134.900 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
457.900 |
422.700 |
300.400 |
|
|
|
|
|
|
|
|
|
|
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend on Equity Shares |
0.000 |
0.000 |
10.000 |
|
|
|
Corporate Tax on Dividend |
0.000 |
0.000 |
1.700 |
|
|
BALANCE CARRIED
TO THE B/S |
512.400 |
457.900 |
423.600 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
|
|
|
|
- Basic |
5.45 |
3.52 |
13.49 |
|
|
|
- Diluted |
3.64 |
2.35 |
8.99 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.23
|
1.45 |
5.62
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.66
|
2.76 |
9.74
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08
|
0.08 |
0.26
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.56
|
0.47 |
0.69
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.13 |
1.18
|
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 |
100.000 |
100.000 |
100.000 |
|
Reserves & Surplus |
575.874 |
610.149 |
664.677 |
|
Net
worth |
675.874 |
710.149 |
764.677 |
|
|
|
|
|
|
long-term borrowings |
234.269 |
165.499 |
215.053 |
|
Short term borrowings |
542.024 |
660.127 |
643.482 |
|
Total
borrowings |
776.293 |
825.626 |
858.535 |
|
Debt/Equity
ratio |
1.149 |
1.163 |
1.123 |
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 |
2401.500 |
2425.000 |
2441.400 |
|
|
|
0.979 |
0.676 |
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 |
2401.500 |
2425.000 |
2441.400 |
|
Profit |
134.900 |
35.200 |
54.500 |
|
|
5.62% |
1.45% |
2.23% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF
LONG-TERM DEBT
Rs. In Millions
|
Particular |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
Current maturities of long-term debt |
86.747 |
89.623 |
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 |
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 |
Yes |
|
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 |
Yes |
CORPORATE
INFORMATION:
Subject is a private company domiciled in India and incorporated under the provisions of the Companies Act, 1956. The company is engaged in the manufacturing and selling a reputed brand of high quality of packaging products like shrink sleeves, laminates, Polly Rolls, garment bags, pick up bags and digital printed products. It caters to both domestic and international markets.
REVIEW OF OPERATIONAL
PERFORMANCE:
During the Financial Year the Company took the strategic business decision to discontinue the low profitability business of Polybags, despite its healthy contribution to the top line Instead, the Company has introduced the new product lines of wrap around labels, laminated packaging options and Specialty flexible packaging, with a view to expand its product range and to deliver higher profitability volume growth.
In spite of these strategic business decisions, the Company has managed to achieve turnover of Rs 2441.400 Millions as compared to Rs 2425.000 Millions of last year with growth of 0.67%. In view of overall economic slowdown and increasing input cost/ interest cost and constant pressure on margins, the Company has managed to increase profit after tax to Rs 54.500 Millions as compared to Rs. 35.200 Millions of last year with growth of 54.83% through efficient cost management and wastage control.
UNSECURED LOAN
Rs.
In Millions
|
Particular |
As
on 31.03.2013 |
As
on 31.03.2012 |
|
Long-term
borrowings |
|
|
|
Bonds/debentures |
50.000 |
50.000 |
|
Short-term borrowings |
|
|
|
Loans repayable on demand |
0.050 |
0.050 |
|
Total |
50.050 |
50.050 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10423922 |
30/03/2013 |
50,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
B74492265 |
|
2 |
10344573 |
22/03/2012 |
30,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
B35895549 |
|
3 |
10265224 |
30/03/2013 * |
226,800,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
B74492752 |
|
4 |
10197457 |
06/01/2010 |
10,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
A77710473 |
|
5 |
10174767 |
20/08/2009 |
5,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
SME VIKHROLI BRANCH, PRABHAT BHAVAN, LBS MARG, VIKHROLI WEST, MUMBAI, MAHARASHTRA - 400079, INDIA |
A69193639 |
|
6 |
10157171 |
15/05/2009 |
52,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A62182183 |
|
7 |
10100965 |
13/10/2011 * |
960,000,000.00 |
STATE BANK OF INDIA AND 4 OTHER BANKS |
COMMERCIAL BRANCH, N. G. N. VAIDYA MARG, FORT, MU |
B26621425 |
|
8 |
10099392 |
24/03/2008 |
3,000,000.00 |
GENERAL MANAGER DISTRICT INDUSTRIES CENTRE |
DISTRICT INDUSTRIES CENTRE, SOLAN, HIMACHAL PRADESH - 173213, INDIA |
A36995314 |
|
9 |
10168428 |
05/03/2008 |
10,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A49151517 |
|
10 |
10089478 |
21/01/2008 |
120,150,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A33209644 |
|
11 |
10089075 |
18/01/2008 |
50,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A33052069 |
|
12 |
10080238 |
12/12/2007 |
18,000,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A28868529 |
|
13 |
10087872 |
26/10/2007 |
31,669,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A32540239 |
|
14 |
10072382 |
28/09/2007 |
1,400,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A25481557 |
|
15 |
10080239 |
01/09/2007 |
663,360,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A28868917 |
|
16 |
10080279 |
13/02/2012 * |
792,639,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
B34183442 |
|
17 |
10068095 |
14/08/2007 |
12,100,000.00 |
THE SARASWAT CO-OPERATIVE BANK LIMITED |
MULUND BRANCH, MULUND, MUMBAI, MAHARASHTRA - 400080, INDIA |
A23499429 |
* Date of charge modification
FIXED ASSETS
Tangible Assets
- Freehold Land
- Leasehold Land
- Buildings
- Factory Equipments
- Plant and Machinery
- Office Equipments
- Vehicles (including Motor Car)
- Furniture and Fitting
- Computer
- Electrical Fittings
- Dies and Mould
Intangible Assets
- Software–ERP
- Trade Mark
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.60.34 |
|
|
1 |
Rs.101.45 |
|
Euro |
1 |
Rs.83.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
50 |
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.