MIRA INFORM REPORT
|
Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
INTRA OCULAR
CARE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
31-D, Sunil Shopping Centre, Opposite Navrang Cinema, J. P. Road, Andheri
(West), Mumbai – 400058, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.12.1989 |
|
|
|
|
Com. Reg. No.: |
11-054536 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.99.683 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U23201MH1989PTC054536 |
|
|
|
|
TIN No.: |
24190302814 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI06419A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACI4883L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Trader of Intraocular Lenses, Contact Lenses. |
|
|
|
|
No. of Employees
: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2400000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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|
Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track record. Financials for the year 2012 and 2013 could not be made available from
government department. Mr. Rajiv Desai, Accounts Executive provided general information and
also informed that company has achieved sales turnover of 650.000 Millions
approx. in the year 2011-12 and 710.000 Millions approx. in the year 2012-13,
and Rs. 800 Millions approx in the year 2013-2014 which is not verified. However, trade relation are fair. Business is active. Payment terms
are unknown. 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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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
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.
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. Rajiv Desai |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-265-3298196 |
|
Date : |
07.05.2014 |
LOCATIONS
|
Registered Office : |
31-D, Sunil Shopping Centre, Opposite Navrang Cinema, J. P. Road,
Andheri (West), Mumbai – 400058, Maharashtra, India |
|
Tel. No.: |
91-22-32409908/ 26776294 |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
Location: |
Owned |
|
|
|
|
Corporate Office / Factory : |
Block No. 310, Village Sim of Dabasa, Taluka : Padra. District
Vadodara – 391 440, Gujarat, India |
|
Tel. No.: |
91-2662-325757,325272 |
|
Fax No.: |
91-2662-244241 |
|
E-Mail : |
|
|
|
|
|
Export Oriented Units : |
Polymer Technologies
International (EOU) |
|
Tel. No.: |
91-2662-325757/325272 |
|
Fax No.: |
91-2662-24424 |
|
E-Mail : |
|
|
|
|
|
Export Oriented Units : |
Contacare
Ophthalmics and Diagnostics (EOU) |
|
Tel. No.: |
91-2662-325757/325272 |
|
Fax No.: |
91-2662-244241 |
|
E-Mail : |
|
|
|
|
|
Branches : |
Located at :
|
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Jagrat Natvar Dave |
|
Designation : |
Director |
|
Address : |
310 Sim of Dabhasa Nr. Gaushala, Dabhasa, Vadodara - 390015, |
|
Date of Birth/Age : |
27.01.1952 |
|
Date of Appointment : |
07.12.1989 |
|
PAN No. : |
AAIPD2742C |
|
DIN No.: |
01419504 |
|
|
|
|
Name : |
Mr. Iyer Venkatrangan Anantaraman |
|
Designation : |
Director |
|
Address : |
2 Kishan Bunglows Near |
|
Date of Birth/Age : |
12.12.1965 |
|
Date of Appointment : |
27.10.2001 |
|
PAN No. : |
ABQPV2545Q |
|
DIN No.: |
01361650 |
|
|
|
|
Name : |
Mr. Vipan Sukhadev Duggal |
|
Designation : |
Director |
|
Address : |
540 – Pocket Established, Mayur Vihar – Phase, |
|
Date of Birth/Age : |
10.04.1964 |
|
Date of Appointment : |
26.05.2005 |
|
PAN No. : |
ACJPD5572D |
|
DIN No.: |
01606776 |
|
|
|
|
Name : |
Mrs. Purnima Jagrat Dave |
|
Designation : |
Director |
|
Address : |
310 Sim of Dabhasa Near Gaushala, Dabhasa, Vadodara - 390015, Gujarat,
India |
|
Date of Birth/Age : |
23.02.1973 |
|
Date of Appointment : |
19.11.2009 |
|
PAN No. : |
AHGPC9058F |
|
DIN No.: |
02232493 |
KEY EXECUTIVES
|
Name : |
Mr. Rajiv Desai |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
No. of Shares |
% age |
|
Jagarat Dave |
9898670 |
99.30 |
|
Sudhir Nambiar |
38000 |
0.38 |
|
A Venkatarangan Iyer |
2500 |
0.03 |
|
Satish Nambiar |
2500 |
0.03 |
|
Rajesh Sachi |
1000 |
0.01 |
|
Vipan Duggal |
20000 |
0.20 |
|
Purnima Dave |
5630 |
0.06 |
|
|
|
|
|
Total |
9968300 |
100.00 |
As on 24.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Bodies corporate |
99.58 |
|
Other |
0.42 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Intraocular Lenses, Contact Lenses. |
|
|
|
|
Exports : |
|
|
Products : |
Contact Lenses |
|
Countries : |
¨ USA ¨ France ¨ Germany ¨ UK ¨ Australia |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
¨ Switzerland ¨ USA ¨ Germany |
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|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
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|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
|
|
|
|
|
|
Intra Ocular Lenses |
|
NA |
NA |
281186 |
GENERAL INFORMATION
|
Customers : |
Retailers and End Users |
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|
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No. of Employees : |
500 (Approximately) |
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Bankers : |
Axis Bank Limited, Vardhaman Complex, Opposite Geb, Race Course, Vadodara - 390007, Gujarat, India Bank of Baroda, IBB Baroda, Vadodara – 390001, Gujarat, India Uti Bank limited, Trisul, Opposite Samartheshwar Temple, Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
|||||||||||||||
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Facilities : |
NOTE (A) Secured by way of first charge on fixed assets, equitable mortgage on land at Dabhasa belonging to Rare Herbs Private Limited., First charge on entire current assets of the company, Corporate guarantee of Rare Herbs Private Limited and also of Polymer Technologies International and personal guarantee of its partners and also personal gaurantees of promoter directors Shri Jagrat N. Dav and Mr. Niyaz Ahmed. (B) Secured by way of first charge on entire current assets of the company, first charge on fixed assets, equitable mortgage on land at Dabhasa belonging to Rare Herbs Private Limited. Corporate guarantee of Rare Herbs Private Limited and also of Polymer Technologies International and personal guarantee of its partners and also personal gaurantees of promoter directors Shri Jagrat N. Dave and Mr. A Venkatrangan Iyer. (C) Secured by way of first charge on entire current assets of the company, first charge on fixed assets, equitable mortgage on land at Dabhasa belonging to Rare Herbs Private Limited. Corporate guarantee of Rare Herbs Private Limited and also of Polymer Technologies International and personal guarantee of its partners and also personal gaurantees of promoter directors Shri Jagrat N. Dave and Mr. A Venkatrangan Iyer. (D) Vehicle acquired under the hire purchase scheme are secured against vehicle purchased under agreement. (E) Vehicle acquired under the hire purchase scheme are
secured against vehicle purchased under agreement. |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Parikh and Majmudar Chartered Accountants |
|
Address : |
204-5-6, Harsh Avenue, |
|
Tel No.: |
91-79-27540454 / 27540860 |
|
Fax No.: |
91-79-27542628 |
|
Email : |
|
|
PAN
No. : |
AAAFP8921B |
|
|
|
|
Associates/Subsidiaries : |
CIN No. U24230MH1997PTC108029
CIN No. U24246GJ1989PTC013127 |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs.100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
9968300 |
Equity Shares |
Rs.10/- each |
Rs.99.683 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
99.683 |
99.683 |
65.483 |
|
|
2] Share Application Money |
0.001 |
0.001 |
0.001 |
|
|
3] Reserves & Surplus |
511.723 |
459.183 |
401.185 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
611.407 |
558.867 |
466.669 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
88.461 |
96.743 |
138.845 |
|
|
2] Unsecured Loans |
4.662 |
0.015 |
34.950 |
|
|
TOTAL BORROWING |
93.123 |
96.758 |
173.795 |
|
|
DEFERRED TAX LIABILITIES |
37.199 |
26.071 |
26.150 |
|
|
|
|
|
|
|
|
TOTAL |
741.729 |
681.696 |
666.614 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
305.609 |
300.860 |
325.533 |
|
|
Capital work-in-progress |
0.000 |
84.269 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.581 |
4.581 |
4.581 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
69.237 |
58.638
|
41.919
|
|
|
Sundry Debtors |
428.736 |
343.546
|
380.437
|
|
|
Cash & Bank Balances |
8.929 |
9.756
|
9.879
|
|
|
Other Current Assets |
0.000 |
0.000
|
0.000
|
|
|
Loans & Advances |
95.357 |
76.734
|
51.334
|
|
Total
Current Assets |
602.259 |
488.674 |
483.569
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
111.570 |
139.499
|
145.792 |
|
|
Other Current Liabilities |
40.972 |
31.045
|
0.000 |
|
|
Provisions |
18.178 |
26.144
|
1.277 |
|
Total
Current Liabilities |
170.720 |
196.688 |
147.069
|
|
|
Net Current Assets |
431.539 |
291.986 |
336.500
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
741.729 |
681.696 |
666.614 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
599.973 |
422.801 |
480.405 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
131.877 |
118.553 |
158.147 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
35.265 |
32.068 |
26.545 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
96.612 |
86.485 |
131.602 |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
INCOME TAX |
32.841 |
27.822 |
43.746 |
|
|
|
|
|
|
|
|
|
|
FRINGE BENEFITS
TAX |
0.000 |
0.000 |
3.316 |
|
|
|
|
|
|
|
|
|
|
DEFERRED TAX |
11.128 |
(0.079) |
2.443 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
52.644 |
58.742 |
82.097 |
|
|
|
|
|
|
|
|
|
|
PRIOR PERIOD
ADJUSTMENT |
0.104 |
0.744 |
0.986 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
404.123 |
356.124 |
285.012 |
|
|
|
|
Transfer to General Reserve |
10.000 |
131.602 |
10.000 |
|
|
BALANCE CARRIED
TO THE B/S |
446.662 |
404.123 |
356.124 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.914 |
1.141 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
0.787 |
3.522 |
NA |
|
|
|
Capital Goods |
0.000 |
12.678 |
NA |
|
|
|
Trading Goods |
134.277 |
69.291 |
NA |
|
|
TOTAL IMPORTS |
135.064 |
84.491 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.27 |
6.41 |
NA |
|
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
800.000 |
710.000 |
650.000 |
|
|
|
|
|
Expected Sales (2014-2015): Rs. 900.000 Millions
The above information has been parted by Mr. Rajiv Desai
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.77 |
13.89 |
17.09
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.10 |
20.54 |
27.39
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.64 |
11.00 |
16.27
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16 |
0.16 |
0.28
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.16 |
0.17 |
0.69
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.53 |
2.48 |
3.29
|
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
65.483 |
99.683 |
99.683 |
|
Reserves & Surplus |
401.185 |
459.183 |
511.723 |
|
Net
worth |
466.668 |
558.866 |
611.406 |
|
|
|
|
|
|
Secured Loans |
138.845 |
96.743 |
88.461 |
|
Unsecured Loans |
34.950 |
0.015 |
4.662 |
|
Total
borrowings |
173.795 |
96.758 |
93.123 |
|
Debt/Equity
ratio |
0.372 |
0.173 |
0.152 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
480.405 |
422.801 |
599.973 |
|
|
|
(11.991) |
41.904 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Turnover |
480.405 |
422.801 |
599.973 |
|
Profit |
82.097 |
58.742 |
52.644 |
|
|
17.09% |
13.89% |
8.77% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
UNSECURED LOANS
|
PARTICULARS |
31.03.2011 (Rs.
in Millions) |
31.03.2010 (Rs.
in Millions) |
|
Loans directors |
4.662 |
0.015 |
|
|
|
|
|
Total |
4.662 |
0.015 |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE
CREATION/MODIFICATION |
CHARGE AMOUNT
SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST
NUMBER (SRN) |
|
1 |
10463456 |
01/11/2013 |
20,000,000.00 |
AXIS BANK LIMITED |
VARDHAMAN COMPLEX, OPP GEB, RACE COURSE, VADODARA, GUJARAT - 390007, INDIA |
B90829979 |
|
2 |
10313795 |
03/01/2007 |
28,069,000.00 |
BANK OF BARODA |
IBB BARODA, VADODARA, GUJARAT - 390001, INDIA |
A33925090 |
|
3 |
10318664 |
03/01/2007 |
59,678,000.00 |
BANK OF BARODA |
IBB BARODA, VADODARA, GUJARAT - 390001, INDIA |
A33924226 |
|
4 |
10026555 |
07/03/2008 * |
250,000,000.00 |
AXIS BANK LIMITED |
TRISHUL OPP SAMARTHESHWAR TEMPLE, LAW GARDEN ROAD, AHMEDABAD, GUJARAT - 380006, INDIA |
A49428329 |
|
5 |
10018704 |
14/07/2006 |
165,000,000.00 |
UTI BANK LIMITED |
TRISHUL OPP SAMATHESHWAR TEMPLE LAW GARDEN ROAD, AHEMADABAD, AHEMADABAD, GUJARAT - 380006, INDIA |
A02821304 |
* Date of charge modification
REVIEW OF
OPERATIONS:
The company has achieved Rs. 599.900 Millions for the year ended
31.03.2011. The net profit of the company after tax is Rs. 52.600 Millions. The
company has achieved an overall increase in sales to the tune of 41.90% over
last year turnover. It would be right to mention here and place on record that
the current management has taken necessary steps and decided to cease
production at their existing premises at Gorwa. It has further decided to
discontinue its manufacturing and opted to get its product manufactured by
subject an associated concern. The upcoming manufacturing unit at Dabhasa was
accordingly sold to subject.
Considering the available market for the company and also considering
the fact that the promoters have also introduced new products, the future
outlook of the company is very much bright. Considering the working capital
requirements of the company, it has been decided to plough back the profit of
the company and therefore, the directors do not recommend any dividend for the
year.
FUTURE
OUTLOOK:
The company has planned to cater to the current market requirement by
introducing Hydrophilic Multifocal Lenses and also Hydrophobic Multifocal
lenses.
The company is also venturing onto profitability of coming out with
molded lenses.
The company has also entered into new dealership for new Medical
Equipments.
FIXED ASSETS
œ
Plant and machinery
œ
Factory building
œ
Electrification
œ
Furniture and fixtures
œ
Laboratory equipment
œ
Clean room systems
œ
Tool room equipment
œ
Motor cycle
œ
Computer
œ
Office equipment
œ
Factory equipment
œ
EPBX
œ
Car
œ
Guest house
œ
License to use equipment
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.60.20 |
|
|
1 |
Rs.101.67 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
ANK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
3 |
|
--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 |
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 |
|
31 |
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.