MIRA
INFORM REPORT
|
Report Date : |
09.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
JHAVERI FLEXO INDIA LIMITED (w.e.f 11.09.2006) |
|
|
|
|
Formerly Known
As : |
FLEXO FILM WRAPS (INDIA) LIMITED |
|
|
|
|
Registered
Office : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
16.04.1985 |
|
|
|
|
Com. Reg. No.: |
11-035938 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 153.063 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1985PLC035938 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
NKSF00196A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACF4037F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
|
|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 3300000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Trade relation are reported to be fair. Business is active. Payment terms
are reported to be usually correct. The company can be considered for 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 |
|
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. Dipu Divakaran |
|
Designation : |
Account Officer |
|
Contact No.: |
91-9423147915 |
|
Date : |
25.11.2013 |
LOCATIONS
|
Registered Office/ Factory 1 : |
Gut No. 74, Farola, Paithan Road, Aurangabad – 431105, Maharashtra,
India |
|
Tel. No.: |
91-2431-251663 / 664 |
|
Mobile No.: |
91-9423147915 (Mr. Dipu Divakaran) |
|
Fax No.: |
91-2431-251661 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Head Office / Corporate Office : |
9th and 10th Floor, Gold Crest, 10th Road, J.V.P.D Scheme, Near HSBC
Bank, Vile Parle (West), Mumbai – 400049, Maharashtra, India |
|
Tel. No.: |
91-22-61512121 |
|
E-Mail : |
|
|
|
|
|
Factory 2: |
Dapada, Silvassa
Factory Survey No. 135/2, Village Dapada, Khanvel Road, Silvassa – 396230.
U.T. OF D.N.H. |
|
Tel No.: |
91-260-2699084/ 184 |
|
|
|
|
Factory 3: |
Luhari, Silvassa
Factory 188/2/1, Village Luhari, Opposite Govt Tourism Resort, Silvassa – 396
230, U.T OF D.N.H. |
|
Tel No.: |
91-2602993437 |
|
|
|
|
Indian Sales Offices : |
Located at: ·
Mumbai ·
Chennai ·
Delhi ·
Aurangabad ·
Hyderabad ·
Bangalore ·
Kolkata |
DIRECTORS
As on: 30.12.2011
|
Name : |
Mr. Rajul Sandeep Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
15.12.1960 |
|
Date of Appointment : |
10.09.2005 |
|
PAN No.: |
ABKPJ5415D |
|
DIN No.: |
00093998 |
|
|
|
|
Name : |
Mr. Sandeep Jhaveri |
|
Designation : |
Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
07.10.1959 |
|
Date of Appointment : |
19.10.2006 |
|
PAN No.: |
AATPJ3903A |
|
DIN No.: |
00080518 |
|
|
|
|
Name : |
Mr. Krishna Kumar Sadani |
|
Designation : |
Managing Director |
|
Address : |
C-5/10, CIDCO Town Centre, CIDCO Aurangabad – 431003, Maharashtra,
India |
|
Date of Birth/Age : |
25.09.1962 |
|
Date of Appointment : |
26.08.1998 |
|
DIN No.: |
00060326 |
|
|
|
|
Name : |
Mr. Dinesh Chandra Shah |
|
Designation : |
Director |
|
Address : |
161-A, Kalpataru Residency, 16th Floor, Tower – A, Sion
(East), Mumbai – 400022, Maharashtra, India |
|
Date of Birth/Age : |
08.10.1957 |
|
Date of Appointment : |
30.07.2005 |
|
DIN No.: |
00298463 |
|
|
|
|
Name : |
Mr. Abhishek Suketu Jhaveri |
|
Designation : |
Whole time Director |
|
Address : |
4th Floor, 42, Neelamber Building, 37, Peddar Road, Mumbai
– 400026, Maharashtra, India |
|
Date of Birth/Age : |
09.01.1986 |
|
Date of Appointment : |
19.05.2008 |
|
PAN No.: |
AFEPJ1695R |
|
DIN No.: |
02293226 |
|
|
|
|
Name : |
Mr. Marunal S Jhaveri |
|
Designation : |
Whole time Director |
|
Address : |
Plot No. 12, Nutan Laxmi Society, Crest Building, 6th
Floor, JVPD Scheme, 9th (N-S) Road, Vile Parle, Mumbai – 400049,
Maharashtra, India |
|
Date of Birth/Age : |
29.10.1985 |
|
Date of Appointment : |
29.10.2009 |
|
PAN No.: |
AEZPJ0790D |
|
DIN No.: |
02350001 |
KEY EXECUTIVES
|
Name : |
Mr. Ashish Gupta |
|
Designation : |
Secretary |
|
Address : |
Flat No.1, Ground Floor, Nirala Apartment, Near Mariya Hospital, Basilal
Naagr, Aurangabad – 431005, Maharashtra, India |
|
Date of Birth/Age : |
04.03.1976 |
|
Date of Appointment : |
01.09.2004 |
|
PAN No.: |
AJDPG8507C |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.12.2011
|
Names of Shareholders |
No. of Shares |
Percentage |
|
Promoters |
|
|
|
-
Indian Promoters |
18867948 |
74.99% |
|
-
Foreign Promoters |
0 |
0% |
|
Mutual Funds and UTI |
50000 |
0.20% |
|
Banks, Financial Institutions, Insurance companies (Central/ State Government/
No-Government Institutions) |
18400 |
0.07% |
|
FIIs |
0 |
0% |
|
Private Corporate Bodies |
2243002 |
8.91% |
|
Indian Public |
2901028 |
11.53% |
|
NRIs/ OCBs |
1080261 |
4.30% |
|
Any Others |
0 |
0% |
|
Total |
25160639 |
100.00% |
As on: 30.12.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
|
Percentage |
|
|
|
|
|
Government [Central and State] |
|
0.01 |
|
Public financial companies |
|
0.05 |
|
Nationalised or other banks |
|
0.01 |
|
Mutual funds |
|
0.20 |
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
0.97 |
|
Bodies corporate |
|
18.92 |
|
Directors or relatives of directors |
|
60.03 |
|
Other top fifty shareholders |
|
16.80 |
|
Others |
|
3.01 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Laminate, PPC Films, Stretch Films, etc. |
|
|
|
|
Exports : |
|
|
Products : |
·
Laminate Films ·
Stretch Films |
|
Countries : |
·
UK ·
USA ·
Saudi Arabia ·
Sri Lanka |
|
|
|
|
Imports : |
|
|
Products : |
·
Raw Materials |
|
Countries : |
·
Singapore ·
Hong Kong ·
Thailand |
|
|
|
|
Terms : |
|
|
Selling : |
L/C and Credit |
|
|
|
|
Purchasing : |
L/C and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
|
Installed
Capacity |
|
Farola Unit |
|
12420 Mt |
|
Dapada Unit |
|
12000 Mt |
|
Luhari Unit |
|
7500 Mt |
|
Particulars |
Unit |
Actual
Production |
|
PVC Film |
Rolls |
1346853 |
|
Masking Film |
Kg. |
832635 |
|
Stretch Film |
Kg. |
1257548 |
|
Lamination Film |
Kg. |
2149689 |
|
CPP Film |
Kg. |
2546167 |
|
Laminates |
Kg. |
8713501 |
GENERAL INFORMATION
|
Customers : |
End Users · Britannia · Cadbury · GULF · Cargill · Dabur · Indian Oil · ITC Limited · JSW · Nestle · Hindustan Unilever Limited · Videocon · General Mills · Tata Chemicals ·
PepsiCo |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
No. of Employees : |
700 (Approximately) |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Bankers : |
The Saraswat Co-operative Bank, CIDCO Branch, Aurangabad, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
Total Facilities: Rs. 496.600 Millions
(From The Saraswat Co-operative Bank)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhatter and Company Chartered Accountants |
|
Address : |
307, Tulsiani Cha,ber, Nariman Point, Mumbai – 400021, Maharashtra,
India |
|
PAN No.: |
AACPB2705R |
|
|
|
|
Associates : |
· Wellworth Industries Limited CIN No.: L21022MH1994PLC170382 · Sangam Press Private Limited CIN No.: U22110MH1947PTC005528 · Mars Fincom Private Limited CIN No.: U51909MH1995PTC197277 · Lathia Rubber Manufacfacturing Co Private Limited CIN No.: U99999MH1969PTC014250 · R.S. Jhaveri and Company · R. S. Jhaveri Steel and Company Private Limited · Alcom Investment Private Limited · Vaishali India Limited · Vaishali Pigments Private Limited |
CAPITAL STRUCTURE
As on: 31.03.2013
Authorised Capital : Rs. 250.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.153.064
Millions
As on: 30.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000000 |
Equity Shares |
Rs.5/- each |
Rs.250.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
25160639 |
Equity Shares |
Rs.5/- each |
Rs.125.803
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 |
153.063 |
125.803 |
125.803 |
|
(b) Reserves & Surplus |
678.307 |
451.319 |
441.057 |
|
(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) |
831.370 |
577.122 |
566.860 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
442.166 |
619.945 |
461.688 |
|
(b) Deferred tax liabilities (Net) |
27.117 |
21.994 |
16.175 |
|
(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) |
469.283 |
641.939 |
477.863 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
374.048 |
344.141 |
343.684 |
|
(b)
Trade payables |
468.541 |
442.162 |
359.293 |
|
(c)
Other current liabilities |
112.470 |
129.944 |
126.851 |
|
(d) Short-term
provisions |
26.384 |
21.583 |
6.253 |
|
Total Current
Liabilities (4) |
981.443 |
937.830 |
836.081 |
|
|
|
|
|
|
TOTAL |
2282.096 |
2156.891 |
1880.804 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
938.717 |
1000.846 |
856.776 |
|
(ii)
Intangible Assets |
0.035 |
0.035 |
0.035 |
|
(iii)
Capital work-in-progress |
63.233 |
7.769 |
73.337 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.050 |
0.050 |
0.050 |
|
(c) Deferred tax
assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
1002.035 |
1008.700 |
930.198 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
624.997 |
567.063 |
463.886 |
|
(c)
Trade receivables |
421.492 |
373.106 |
327.442 |
|
(d) Cash
and cash equivalents |
119.259 |
93.394 |
52.161 |
|
(e)
Short-term loans and advances |
109.322 |
109.224 |
101.553 |
|
(f) Other
current assets |
4.991 |
5.404 |
5.564 |
|
Total
Current Assets |
1280.061 |
1148.191 |
950.606 |
|
|
|
|
|
|
TOTAL |
2282.096 |
2156.891 |
1880.804 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3171.057 |
2768.082 |
2418.914 |
|
|
|
Other Income |
26.633 |
10.072 |
3.532 |
|
|
|
TOTAL (A) |
3197.690 |
2778.154 |
2422.446 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
2278.062 |
1984.488 |
1768.923 |
|
|
|
Changes in inventories of finished goods, work-in-progress
and stock-in-trade |
19.531 |
(30.565) |
13.995 |
|
|
|
Employee benefit expense |
168.480 |
136.129 |
115.141 |
|
|
|
Other expenses |
433.318 |
414.692 |
373.131 |
|
|
|
Exceptional Items |
1.881 |
(0.136) |
0.145 |
|
|
|
TOTAL (B) |
2901.272 |
2504.608 |
2271.335 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
296.418 |
273.546 |
151.111 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
136.311 |
147.550 |
53.857 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
160.107 |
125.996 |
97.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
108.024 |
105.895 |
96.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
52.083 |
20.101 |
0.637 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
15.920 |
9.839 |
6.883 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
36.163 |
10.262 |
(6.246) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
121.238 |
110.932 |
117.178 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
157.401 |
121.238 |
110.932 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
356.741 |
206.564 |
55.640 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
724.666 |
734.531 |
675.474 |
|
|
|
Stores & Spares |
12.111 |
2.909 |
4.165 |
|
|
|
Office Equipments |
1.241 |
0.000 |
0.000 |
|
|
|
Plant and Machinery |
0.000 |
0.000 |
0.676 |
|
|
TOTAL IMPORTS |
738.018 |
737.440 |
680.315 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.18 |
0.41 |
(0.25) |
|
|
Particulars |
|
|
31.03.2014 |
|
|
|
|
|
|
Sales Turnover (Approximately) |
|
|
4000.000 |
|
|
|
|
|
The above information has been parted by Mr. Dipu Divakaran
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
1.14 |
0.37 |
(0.26) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.64 |
0.72 |
0.02 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.35 |
0.93 |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.03 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.98 |
1.68 |
1.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.31 |
1.22 |
1.13 |
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 |
125.803 |
125.803 |
153.063 |
|
Reserves & Surplus |
441.057 |
451.319 |
678.307 |
|
Net
worth |
566.860 |
577.122 |
831.370 |
|
|
|
|
|
|
long-term borrowings |
461.688 |
619.945 |
442.166 |
|
Short term borrowings |
343.684 |
344.141 |
374.048 |
|
Total
borrowings |
805.372 |
964.086 |
816.214 |
|
Debt/Equity
ratio |
1.421 |
1.671 |
0.982 |
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 |
2418.914 |
2768.082 |
3171.057 |
|
|
|
14.435 |
14.558 |
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 |
2418.914 |
2768.082 |
3171.057 |
|
Profit |
(6.246) |
10.262 |
36.163 |
|
|
(0.26%) |
0.37% |
1.14% |
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 |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
Yes |
|
17] |
Major suppliers |
Yes |
|
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 |
No |
UNSECURED LOAN
|
Particulars |
31.03.2013 (Rs.
In Millions) |
31.03.2012 (Rs.
In Millions) |
|
Long term
borrowings |
|
|
|
Term loans from other parties |
209.711 |
122.664 |
|
Loans and advance from related parties |
25.095 |
270.604 |
|
Sales tax deferral |
84.761 |
80.297 |
|
|
|
|
|
Total |
319.567 |
473.565 |
INDEX OF CHARGE:
|
Sr .No |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10429260
|
26/04/2013
|
30,000,000.00
|
SARASWAT
CO- OPERATIVE BANK LIMITED |
CIDCO BRANCH, NEAR CIDCO BUS
STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B76376219
|
|
2 |
10429267
|
26/04/2013
|
30,000,000.00
|
SARASWAT
CO- OPERATIVE BANK LIMITED |
CIDCO BRANCH, NEAR CIDCO BUS
STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B76377860
|
|
3 |
10407737
|
07/01/2013
|
99,500,000.00
|
UNITED
BANK OF INDIA |
UNITED BANK OF INDIA BUILDING,
25, SIR PHEROZ SHAH MEHTA ROAD, FORT MUMBAI, MAHARASHTRA - 400001, |
B69506921
|
|
4 |
10388076
|
08/11/2012
|
6,668,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC BORIVLI WEST BRANCH,
SHOBHANA APARTMENT, CHANDAVARKAR ROAD, BORIVLI WEST, MUMBAI, MAHARASHTRA -
400092, INDIA |
B62590161
|
|
5 |
10386104
|
09/10/2012
|
875,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI
CHOWK, KRANTI CHOWK, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B61945465
|
|
6 |
10328061
|
13/12/2011
|
1,918,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI
CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B29474186
|
|
7 |
10325325
|
05/12/2011
|
75,000,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
'MADHU SHILP', PLOT NO. 6, C/2,
TOWN CENTRE, NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA |
B28628576
|
|
8 |
10322013
|
14/11/2011
|
585,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
RASEC, KANCHAN CHAMBERS, KRANTI
CHOWK, STATION ROAD, AURANGABAD, MAHARASHTRA - 431005, INDIA |
B27364272
|
|
9 |
10323982
|
06/05/2011
|
96,600,000.00
|
THE
SARASWAT CO-OPERATIVE BANK LIMITED |
MADHU SHILP, PLOT NO. 6, TOWN
CENTRE, NEAR CIDCO |
B17674821
|
|
10 |
10283326
|
20/04/2011
|
13,700,000.00
|
SARASWAT
CO-OPERATIVE BANK LIMITED |
MADHU SHILP, PLOT NO. 6, TOWN CENTRE,
NEAR CIDCO BUS STAND, CIDCO, AURANGABAD, MAHARASHTRA - 431003, INDIA |
B11148020
|
* Date of modification charge
FIXED ASSETS:
· Land
· Building
· Plant and Machinery
· Furniture and Fixture
· Vehicles
· Trade Mark
· Computer Equipment
· Office 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. 59.99 |
|
|
1 |
Rs. 101.75 |
|
Euro |
1 |
Rs. 83.48 |
INFORMATION DETAILS
|
Information Gathered
by : |
PRT |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ANK |
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 |
5 |
|
--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 |
|
46 |
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.