MIRA INFORM REPORT
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Report Date : |
08.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
MALLADI DRUGS AND PHARMACEUTICALS LIMITED |
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Registered
Office : |
No. 9, GST Road, |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
21.08.1980 |
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Com. Reg. No.: |
18-008382 |
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Capital
Investment / Paid-up Capital : |
Rs. 141.060
Millions |
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CIN No.: [Company Identification
No.] |
U24230TN1980PLC008382 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CHEM00349G |
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PAN No.: [Permanent Account No.] |
AAACM5031A |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacture and Sale of Bulk Drugs or Active Pharma Ingredients. |
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No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3570000 |
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Status : |
Satisfactory |
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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 satisfactory track record. Trade relations are reported to be fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for normal business dealing 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.
ECGC Country Risk Classification List – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
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
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Rating Agency Name |
CARE |
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Rating |
Long term bank facilities: “BB+” |
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Rating Explanation |
Have moderate risk of default. |
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Date |
21.11.2013 |
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Rating Agency Name |
CARE |
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Rating |
Short term bank facilities: “A4+” |
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Rating Explanation |
Have minimal degree of safety and carry very high credit risk. |
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Date |
21.11.2013 |
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 : |
Ms. Meenakshi |
|
Designation : |
Finance Department |
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Contact No.: |
91-44-39876900 |
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Date : |
29.04.2014 |
LOCATIONS
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Registered Office : |
No. 9, GST Road, St. Thomas Mount, Chennai - 600016, Tamilnadu, India. |
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Tel. No.: |
91-44-39876900/ 22330910 |
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Fax No.: |
91-44-39876914/ 22330814 |
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E-Mail : |
info@malladi.co.in |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory : |
· Plot No. 67, Sipcot Industiral Complex, Ranipet, Vellore District – 632403, Tamilnadu, India · · Plot Nos. 7B and 7C, Sipcot Industiral Complex, Ranipet, Vellore District – 632403, Tamilnadu, India · · Plot No. 6A, 7A, Sipcot Industiral Complex, Ranipet, Vellore District – 632403, Tamilnadu, India · · Plot Nos. 49, 50, 55 and 56, IDA Gajulamandyam, Attur P. O., Renigunta, Tirupati – 517520, Andhra Pradesh, India · · Tantech Agro Chemicals Limited, Sipcot Industrial Complex, Ranipet, Vellore District – 632403, Tamilnadu, India Also Located at : · Tirupati · Guddalore |
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Branch Office
: |
Located at : ·
14, Raghavan Reddy Colony, Ashok Nagar,
Chennai - 600083, Tel No. : 91-44-24892056 · 137 B, Old Mahabalipuram Road, Chennai - 600096, Tamilnadu, India Tel. No. : 91-44-24960761 / 24960629 / 24960633 · 14, Dr. Natesan Salai, Ashok Nagar, Chennai - 600083, Tamilnadu, India Tel No. : 91-44-24890185 |
DIRECTORS
As on 30.09.2013
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Name : |
Mr. Prashant Malladi |
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Designation : |
Managing Director |
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Address : |
No.31, Navarathna Gardens, Ekkatuthangal, Chennai – 600097, Tamilnadu, India. |
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Date of Birth/Age : |
20.05.1959 |
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Qualification : |
B. Com, (ICWA) |
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Date of Appointment : |
03.09.1998 |
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PAN No.: |
AAEPM8052A |
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DIN No. : |
00133341 |
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Other Directorship :
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Name : |
Mrs. Shreya Sistla |
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Designation : |
Whole Time Director |
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Address : |
No.41, Navarathna Gardens, Ekkatuthangal, Chennai – 600097, Tamilnadu, India |
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Date of
Birth/Age : |
15.10.1962 |
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Qualification
: |
B. Tech. |
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Date of
Appointment : |
01.10.2013 |
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PAN No.: |
AAMPS6655B |
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DIN No. : |
00133354 |
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Other Directorship :
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Name : |
Mr. Gopalakrishnan Narayanaswamy Venganellor |
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Designation : |
Whole Time Director |
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Address : |
B-2, Aditiyaa Malaviya Nagar, Thiruvanmiyur, Chennai – 600041, Tamilnadu, India |
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Date of
Birth/Age : |
05.08.1952 |
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Qualification
: |
B.E., (Chemicals) |
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Date of
Appointment : |
12.05.2011 |
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PAN No.: |
ADTPG2274N |
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DIN No. : |
00198785 |
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Other Directorship :
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Name : |
Mr. Dilip Keshavlal Patel |
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Designation : |
Director |
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Address : |
D-70, 5th Floor, Bina Apartments, Sir M. V. Road, Andheri (East), Mumbai – 400069, Maharashtra, India |
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Qualification
: |
B.E.,(Chemicals) |
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Date of
Birth/Age : |
20.10.1947 |
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Date of
Appointment : |
17.06.2003 |
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DIN No. : |
00013150 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Ms. Meenakshi |
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Designation : |
Finance Department |
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Name : |
Mr. R Krishnan |
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Designation : |
Secretary |
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Date of Appointment : |
25.06.2010 |
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PAN No.: |
AAOPK4452E |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
M.
Prabhavathi |
92179 |
|
M. Prashant |
3074493 |
|
S. Shreya |
2698197 |
|
M. Parvathi |
253630 |
|
Malladi
Project Management Centre Private Limited, |
5093905 |
|
Saka Marketing
Services Private Limited, |
3003199 |
|
TIIC Limited, India |
770000 |
|
M. S. Pawan |
154 |
|
V. N.
Gopalakrishnan |
53130 |
|
M.
Parvathi and M. Prashant |
279961 |
|
MDPL
Employee Welfare Trust, India |
774620 |
|
LOF
Mauritius – LLC, Mauritius |
850434 |
|
Nakodar Finance Private Limited, India |
2626684 |
|
Onward Investment Advisory Private Limited, India |
8641427 |
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Total |
28212013 |
Allottees as on 11.10.2013
|
Names of Allottee |
No. of Shares |
|
Nakodar Finance Private Limited, India |
1000000 |
|
Onward
Investment Advisory Services Private Limited, India |
1321429 |
|
Total |
2321429 |
Allottees as on 24.10.2013
|
Names of Allottee |
No. of Shares |
|
ABN Estates
Housing Private Limited, India |
1250000 |
|
Total |
1250000 |
As on 30.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Public financial companies |
2.52 |
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Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
2.79 |
|
Bodies corporate |
71.03 |
|
Directors or relatives of Directors |
21.12 |
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Others |
2.54 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture and Sale of Bulk Drugs or Active Pharma
Ingredients. |
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Products : |
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Exports : |
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Products : |
Pharmaceuticals |
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Countries : |
Switzerland |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C and Cheque |
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Purchasing : |
L/C and Cheque |
GENERAL INFORMATION
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Customers : |
Wholesalers · GSK Company |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· Union Bank of India, Ashok Nagar Branch, Plot No.1209, 1st Avenue, Ashok Nagar, Chennai - 600083, Tamilnadu, India · State Bank of India, Commercial Branch, 232, NSC Bose Road, Chennai - 600001, Tamilnadu, India · State Bank of Travancore, Commercial Branch, 556, Anna Salai, Teynampet, Chennai - 600018, Tamil Nadu, India · Corporation Bank, Kellys Corner Branch, No.12, Ormes Road, Kilpauk, Chennai - 600010, Tamilnadu, India |
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Facilities : |
Cash Credit: Rs. 17.500 Millions (From Union Bank of India)
NOTE LONG TERM
BORROWINGS Term loans taken from banks - (Union Bank of India, Corporation Bank, State Bank of India and State Bank of Travancore) and Financial institution (Export Import Bank of India) are secured by paripassu first charge on the Company's immovable and movable properties both present and future subject to the charges created in favour of the Company's bankers on the current assets for securing the working capital facilities. The term loans are also guaranteed by the Managing director and Executive Director (Operations) of the company. SHORT TERM BORROWINGS The working capital facilities are secured by
hypothecation of stocks of raw materials, work in progress and finished
goods. The working capital facilities are also secured by second charge on
fixed assets of the company The loans are also guaranteed by the Managing
Director and Executive Director (Operations). |
|
Banking
Relations : |
-- |
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|
Financial Institution : |
Electronica Finance Limited, 128/A, Plot No.3, Kailashchandra Appartments, Paud Road, Kothrud, Pune - 411038, Maharashtra, India |
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Auditors : |
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|
Name : |
Sripada Associates Chartered Accountants |
|
Address : |
New No.3/82, (Old No. 10/7), Valluvar Salai, Ramapuram, Chennai 600089, Tamilnadu, India |
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Income-tax
PAN of auditor or auditor's firm : |
AATFS9395P |
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Subsidiary Company: |
· Tantech Agro Chemicals Limited CIN No.: L24121TN1989PLC018170 · Novus Fine Chemicals L.L.C |
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|
Enterprises which
are owned, or have significant influence of or are partners with Key management
personnel and their relatives: |
· Malladi Project Management Centre Private Limited CIN No.: U74140TN1980PTC008360 · Saka Marketing Services Private Limited CIN No.: U74999TN1979PTC007807 · Malladi Specialities Limited CIN No.: U24117TN1989PLC017845 · Sreeprabha Franchise – Association of Persons · Marine and Agro Products Private Limited CIN No.: U29309TN1992PTC022525 · Nakodar Finance Private Limited CIN No.: U65921WB1987PTC145679 · Onwards Investment Advisory Private Limited · ABN Estates Housing Private Limited CIN No.: U70102TN2007PTC062672 |
CAPITAL STRUCTURE
After
30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40,000,000 |
Equity Shares |
Rs. 5/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
31783442 |
Equity Shares |
Rs.5/- each |
Rs. 158.917
Millions |
|
|
|
|
|
As on 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000,000 |
Equity Shares |
Rs. 5/- each |
Rs 150.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
28,212,013 |
Equity Shares |
Rs.5/- each |
Rs.141.060
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 |
141.060 |
141.060 |
141.060 |
|
(b) Reserves & Surplus |
751.273 |
691.427 |
1108.280 |
|
(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) |
892.333 |
832.487 |
1249.340 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term Borrowings |
178.936 |
277.212 |
263.597 |
|
(b) Deferred Tax Liabilities (Net) |
116.213 |
108.109 |
112.379 |
|
(c) Other Long Term
Liabilities |
11.502 |
6.841 |
7.888 |
|
(d) long-term
Provisions |
26.623 |
23.924 |
17.383 |
|
Total Non-current
Liabilities (3) |
333.274 |
416.086 |
401.247 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
Term Borrowings |
727.953 |
677.757 |
686.293 |
|
(b) Trade
Payables |
664.420 |
522.142 |
633.288 |
|
(c) Other Current
Liabilities |
165.526 |
127.714 |
104.984 |
|
(d) Short-term
Provisions |
21.521 |
26.717 |
4.253 |
|
Total Current
Liabilities (4) |
1579.420 |
1354.330 |
1428.818 |
|
|
|
|
|
|
TOTAL |
2805.027 |
2602.903 |
3079.405 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible Assets |
851.611 |
878.662 |
753.706 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital Work-in-Progress |
3.201 |
21.887 |
2.127 |
|
(iv)
Intangible assets under Development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
390.846 |
390.836 |
671.273 |
|
(c) Deferred Tax Assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
217.909 |
180.658 |
267.403 |
|
(e) Other
Non-current Assets |
50.960 |
40.214 |
67.178 |
|
Total Non-Current
Assets |
1514.527 |
1512.257 |
1761.687 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current Investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
561.963 |
560.269 |
551.122 |
|
(c) Trade
Receivables |
536.535 |
384.309 |
661.181 |
|
(d) Cash
and Cash Equivalents |
75.175 |
38.987 |
19.050 |
|
(e)
Short-term Loans and Advances |
46.168 |
51.192 |
45.353 |
|
(f) Other
Current Assets |
70.659 |
55.889 |
41.012 |
|
Total Current
Assets |
1290.500 |
1090.646 |
1317.718 |
|
|
|
|
|
|
TOTAL |
2805.027 |
2602.903 |
3079.405 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
2121.828 |
1814.602 |
1900.510 |
|
|
|
Other Income |
50.759 |
62.765 |
58.816 |
|
|
|
TOTAL (A) |
2172.587 |
1877.367 |
1959.326 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials Consumed |
1015.695 |
919.403 |
1034.325 |
|
|
|
Purchases of Stock-in-Trade |
38.488 |
44.990 |
39.732 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and Stock-in-Trade |
64.636 |
3.657 |
-12.076 |
|
|
|
Employees benefits expense |
176.194 |
171.612 |
143.855 |
|
|
|
Other expenses |
581.865 |
575.832 |
507.701 |
|
|
|
Exceptioanl Items |
0.000 |
352.416 |
0.000 |
|
|
|
TOTAL (B) |
1876.878 |
2067.910 |
1713.537 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
295.709 |
(190.543) |
245.789 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
143.966 |
155.298 |
132.030 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
151.743 |
(345.841) |
113.759 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
81.309 |
75.283 |
76.206 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F)
(G) |
70.434 |
(421.124) |
37.553 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
10.587 |
(4.270) |
(17.015) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
59.847 |
(416.854) |
54.568 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1325.874 |
1246.146 |
1100.352 |
|
|
|
|
|
|
|
|
|
|
Earnings / (Loss)
Per Share (Rs.) |
2.21 |
(2.28) |
1.93 |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
23320.000 |
|
|
|
|
|
The above information has been parted by Ms. Meenakshi (Finance
Department).
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
2.75 |
(22.20) |
2.79 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.32 |
(23.21) |
1.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.92 |
(19.23) |
1.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.08 |
(0.51) |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.02 |
1.15 |
0.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.82 |
0.81 |
0.92 |
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 |
141.060 |
141.060 |
141.060 |
|
Reserves & Surplus |
1108.280 |
691.427 |
751.273 |
|
Net
worth |
1249.340 |
832.487 |
892.333 |
|
|
|
|
|
|
long-term borrowings |
263.597 |
277.212 |
178.936 |
|
Short term borrowings |
686.293 |
677.757 |
727.953 |
|
Total
borrowings |
949.890 |
954.969 |
906.889 |
|
Debt/Equity
ratio |
0.760 |
1.147 |
1.016 |
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 |
1900.510 |
1814.602 |
2121.828 |
|
|
|
(4.520) |
16.931 |
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 |
1900.510 |
1814.602 |
2121.828 |
|
Profit |
54.568 |
(416.854) |
59.847 |
|
|
2.87% |
(22.97%) |
2.82% |
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
four 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 |
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 |
Yes |
|
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 |
10483763 |
24/02/2014 |
250,000,000.00 |
UNION BANK OF INDIA |
ASHOK NAGAR BRANCH, PLOT NO.1209, 1ST AVENUE, ASHOK NAGAR, CHENNAI, TAMILNADU - 600083, INDIA |
C00018119 |
|
2 |
10475636 |
22/01/2014 |
3,374,393.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B95515052 |
|
3 |
10475087 |
22/01/2014 |
3,683,021.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B95293486 |
|
4 |
10443118 |
23/07/2013 |
713,300.00 |
UNION BANK OF INDIA |
ASHOK NAGAR BRANCH, PLOT NO.1209, 1ST AVENUE, ASHOK NAGAR, CHENNAI, TAMILNADU - 600083, INDIA |
B82176876 |
|
5 |
10207922 |
30/03/2010 * |
100,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE COMPLEX, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
A85702058 |
|
6 |
10153842 |
20/04/2011 * |
130,000,000.00 |
STATE BANK OF HYDERABAD |
MOUNT ROAD BRANCH, 488/489, SATHGURU COMPLEX, NANDANAM, ANNA SALAI, CHENNAI, TAMILNADU - 600035, INDIA |
B11855004 |
|
7 |
10154291 |
27/03/2009 |
1,810,957.00 |
FIRST LEASING CO OF INDIA LIMITED |
749, ANNA SALAI,CHENNAI-2., TAMILNADU, TAMILNADU, |
A60719952 |
|
8 |
10151568 |
26/02/2014 * |
100,000,000.00 |
STATE BANK OF TRAVANCORE |
COMMERCIAL BRANCH, 556, ANNA SALAI, TEYNAMPET,, CHENNAI, TAMIL NADU - 600018, INDIA |
B98805153 |
|
9 |
10094246 |
17/02/2009 * |
110,000,000.00 |
STATE BANK OF TRAVANCORE |
NO. 556, MOUNT ROAD, TEYNAMPET, CHENNAI, TAMILNADU - 600018, INDIA |
A57291692 |
|
10 |
10094257 |
04/07/2012 * |
454,700,000.00 |
STATE BANK OF INDIA |
COMMERCIAL BRANCH, 232, NSC BOSE ROAD, CHENNAI, TAMILNADU - 600001, INDIA |
B43097203 |
|
11 |
10026699 |
04/04/2013 * |
1,371,200,000.00 |
UNION BANK OF INDIA |
ASHOK NAGAR BRANCH, PLOT NO.1209, 1ST AVENUE, ASHOK NAGAR, CHENNAI, TAMILNADU - 600083, INDIA |
B75729491 |
|
12 |
80012428 |
25/10/2006 * |
225,000,000.00 |
EXPORT IMPORT BANK OF INDIA |
CENTRE ONE BUILDING, FLOOR 21, WORLD TRADE CENTRE, CUFFE PARADE, MUMBAI, MAHARASHTRA - 400005, INDIA |
- |
|
13 |
90290387 |
25/02/2014 * |
229,000,000.00 |
CORPORATION BANK |
KELLYS CORNER BRANCH, NO.12, ORMES ROAD, KILPAUK, CHENNAI, TAMILNADU - 600010, INDIA |
B98745920 |
|
14 |
90287254 |
04/12/2013 * |
368,200,000.00 |
UNION BANK OF INDIA |
ASHOK NAGAR BRANCH, PLOT NO.1209, 1ST AVENUE, ASHOK NAGAR, CHENNAI, TAMILNADU - 600083, INDIA |
B92727650 |
|
15 |
90288812 |
25/11/2005 * |
37,154,000.00 |
UNION BANK OF INDIA |
ASHOKNAGAR BRANCH, MADRAS, TAMILNADU - 600083, INDIA |
- |
|
16 |
90296806 |
25/07/1997 * |
7,100,000.00 |
UNION BANK OF INDIA |
ASHOK NAGAR BRANCH, MADRAS, TAMILNADU - 600083, INDIA |
- |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
Deferred sales tax loan |
35.544 |
35.821 |
|
|
|
|
|
SHORT TERM
BORROWINGS |
|
|
|
Other loans and advances, others |
30.000 |
25.000 |
|
Total |
65.544 |
60.821 |
CHANGE OF ADDRESS
The registered office of the company has been shifted from 52, Jawaharlal Nehru Salai, Ekkattuthangal, Chennai – 600097, Tamilnadu, India to the present address w.e.f. 09.10.2008.
FINANCIAL PERFORMANCE
The Company’s turnover registered an increase of 18% over the previous year mainly on account of sales of Core products. Export turnover increased by 6% over the previous year.
FIXED ASSETS
Tangible Assets
· Land
· Buildings
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
· Motor Vehicles
· Office Equipment
· Other Equipments
· Leasehold Improvements
Intangible Assets
· Goodwill
· Computer Software
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.60.04 |
|
|
1 |
Rs.101.97 |
|
Euro |
1 |
Rs.83.58 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MRI |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
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 |
|
44 |
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.