MIRA
INFORM REPORT
|
Report Date : |
10.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KOTHARI AGRITECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
"Sun Plaza" 8516/11, 3rd Floor, Murarji
Peth, Subhash Chowk, Solapur – 413001, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
01.12.2009 |
|
|
|
|
Com. Reg. No.: |
11-135094 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.70.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25203PN2009PTC135094 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEK09201D |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCK8017H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Pipes like PVC Pipes and Fittings, SWK Pipes and
Fittings. |
|
|
|
|
No. of Employees
: |
750 [Approximately] |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (41) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1531800 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Genera financial position of the company seems to be sound. Profitability
of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be slow but correct. The company can be considered 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.
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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB- [Long Term] |
|
Rating Explanation |
Moderate risk of default and high credit risk. |
|
Date |
02.05.2014 |
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. Nama |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-9545551873 |
|
Date : |
07.05.2014 |
LOCATIONS
|
Registered Office/ Corporate
Office : |
"Sun Plaza" 8516/11, 3rd Floor, Murarji
Peth, Subhash Chowk, Solapur – 413001, Maharashtra, India
|
|
Tel. No.: |
91-217-2721490 |
|
Fax No.: |
91-217-2721498 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No. 123 to 125, 146 to 157 and 185-193, Chandramauli
Industrial Co-operative Estate, Mohol, Solapur – 413213, Maharashtra,
India |
|
Tel. No.: |
91-2189-232298/ 232498 |
|
Fax No.: |
91-2189-232591 |
|
E-Mail : |
|
|
|
|
|
Mumbai Office : |
338, Neo Corporate Plaza, Ramchandra Lane, Malad (West), Mumbai - 400064, Maharashtra,
India |
|
|
|
|
Regional Offices : |
Located At: · Amravati · Ahmednagar · Indore · Raipur · Jaipur · Ahmadabad · Hyderabad · Bijapur ·
Coimbatore |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Kiran Shivlal Kothari |
|
Designation : |
Director |
|
Address : |
Nagane Deshmukh
Apartments, Bhudhwar Peth,
Samrat Chowk, Solapur – 413002, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1956 |
|
Qualification : |
B.Sc. (Agriculture) |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AAEHK3731J |
|
DIN No.: |
00423658 |
|
|
|
|
Name : |
Mr. Arvind Shivlal
Kothari |
|
Designation : |
Director |
|
Address : |
Jupitor Apartments, S. No. 8338/A/2/2/2, Railway
Lines, Solapur – 413001, Maharashtra,
India |
|
Date of Birth/Age : |
01.06.1958 |
|
Qualification : |
B.Sc. |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
ABGPK7158Q |
|
DIN No.: |
00423735 |
|
|
|
|
Name : |
Mr. Ujwal Shivlal Kothari |
|
Designation : |
Managing Director |
|
Address : |
C-Narshi Roadways, Samrat
Chowk, Solapur – 413 002,
Maharashtra, India |
|
Date of Birth/Age : |
25.12.1960 |
|
Qualification : |
B.Com |
|
Date of Appointment : |
01.12.2009 |
|
PAN No.: |
AAPHK9854L |
|
DIN No.: |
00423813 |
|
|
|
|
Name : |
Mr. Amol Shantikumar
Paliya |
|
Designation : |
Additional director |
|
Address : |
At Post Ahergaon, Taluka
Madha, District Solapur –
413 209, Maharashtra, India |
|
Date of Birth/Age : |
27.03.1978 |
|
Date of Appointment : |
30.09.2011 |
|
PAN No.: |
AIGPP7461E |
|
DIN No.: |
01483162 |
|
|
|
|
Name : |
Mr. Anand Ramchandra
Kothadiya |
|
Designation : |
Director |
|
Address : |
Hayaskulvasahata, Jeur, Taluka Karmala, Solapur – 413203, Maharashtra, India |
|
Date of Birth/Age : |
05.03.1949 |
|
Date of Appointment : |
01.05.2012 |
|
DIN No.: |
05270588 |
KEY EXECUTIVES
|
Name : |
Mr. Nama |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Kiran Shivlal Kothari |
3000000 |
20.00 |
|
Ujwal Shivlal Kothari |
1500000 |
10.00 |
|
Arvind Shivlal Kothari |
1500000 |
10.00 |
|
Amol Shantikumar Paliya |
1500000 |
10.00 |
|
Pushkaraj Kiran Kothari |
1500000 |
10.00 |
|
Ashish Arvind Kothari |
1500000 |
10.00 |
|
Akshay Arvind Kothari |
1500000 |
10.00 |
|
Sourabh Ujwal Kothari |
1500000 |
10.00 |
|
Gourav Ujwal Kothari |
1500000 |
10.00 |
|
|
|
|
|
TOTAL
|
15000000 |
100.00 |
AS ON 30.09.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pipes like PVC Pipes and Fittings, SWK Pipes and
Fittings. |
|
|
|
|
Products : |
·
Drip Irrigation System ·
Mini Sprinkler ·
Jets and Foggers ·
Filters ·
Poly Fittings ·
Plastic Sprinklers and Pop Ups ·
Rain-guns ·
Sprinkler Irrigation System ·
Rigid u PVC Pipes ·
PVC Rubber Ring Joint Pipe ·
Fabricated Fittings ·
PVC Agriculture Moulded
Fittings ·
Hose Pipes and ASTM Pipes |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
·
Korea ·
Taiwan ·
Italy ·
Dubai ·
Brazil |
|
|
|
|
Terms : |
|
|
Selling : |
Credit [Cheque and Advance Payment] |
|
|
|
|
Purchasing : |
Credit [Cheque and Advance Payment] |
GENERAL INFORMATION
|
Customers : |
·
GVK ·
NCC ·
Gayatri ·
VSI ·
Lok Mangal ·
Krishidhan ·
Essar ·
Ajeet Seeds Limited ·
JAI ·
ThyssenKrupp |
|||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||
|
No. of Employees : |
750 [Approximately] |
|||||||||||||||||||||||||||
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|
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|
Bankers : |
State Bank of India, Rajamati Bhavan, Bhusar Peth, Mohol, Solapur – 413 213, Maharashtra,
India |
|||||||||||||||||||||||||||
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|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Electronica Finance Limited, 128/A, Plot No. 3, Kailashchandra Apartments, Paud
Road, Kothrud, Pune-411038, Maharashtra,
India |
|
|
|
|
Auditors : |
|
|
Name : |
M Z S K and Associates Chartered Accountants |
|
Address : |
Business Bay, Level 3, Plot No 84, Near RTO |
|
PAN No: |
AACFK3470E |
|
|
|
|
Other Related Parties : |
·
Kothari Pipes and Fittings Private Limited ·
Kothari Cables ·
Kothari Prima Private Limited |
CAPITAL STRUCTURE
AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000000 |
Equity Shares |
Rs.10/- each |
Rs.150.000 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 |
150.000 |
70.000 |
50.000 |
|
(b) Reserves &
Surplus |
232.961 |
126.367 |
84.297 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
0.000 |
0.000 |
12.080 |
|
Total Shareholders’ Funds
(1) + (2) |
382.961 |
196.367 |
146.377 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term borrowings |
168.442 |
295.427 |
219.488 |
|
(b) Deferred tax
liabilities (Net) |
34.771 |
27.296 |
9.883 |
|
(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) |
203.213 |
322.723 |
229.371 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
199.576 |
195.560 |
177.936 |
|
(b) Trade payables |
415.792 |
305.572 |
279.110 |
|
(c) Other current
liabilities |
141.305 |
170.002 |
160.562 |
|
(d) Short-term provisions |
57.107 |
30.231 |
44.676 |
|
Total Current Liabilities
(4) |
813.780 |
701.365 |
662.284 |
|
|
|
|
|
|
TOTAL |
1399.954 |
1220.455 |
1038.032 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
403.137 |
407.711 |
199.989 |
|
(ii) Intangible Assets |
0.012 |
0.022 |
0.032 |
|
(iii) Capital
work-in-progress |
4.979 |
0.789 |
153.773 |
|
(iv) Intangible assets
under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.588 |
0.248 |
0.248 |
|
(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 |
11.633 |
25.574 |
20.393 |
|
Total Non-Current Assets |
420.349 |
434.344 |
374.435 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
211.954 |
185.119 |
231.247 |
|
(c) Trade receivables |
581.925 |
461.149 |
335.545 |
|
(d) Cash and cash
equivalents |
128.639 |
61.763 |
29.023 |
|
(e) Short-term loans and
advances |
57.087 |
78.080 |
67.782 |
|
(f) Other current assets |
0.000 |
0.000 |
0.000 |
|
Total Current Assets |
979.605 |
786.111 |
663.597 |
|
|
|
|
|
|
TOTAL |
1399.954 |
1220.455 |
1038.032 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
2455.858 |
1649.490 |
1110.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
(Including
Financial Expenses and Depreciation) |
|
961.310 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
|
|
149.402 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
|
|
56.742 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
92.660 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
12.650 |
|
|
|
|
|
|
|
|
|
Less |
PRELIMINARY
EXPENSES W/O |
0.238 |
0.000 |
0.092 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
172.839 |
49.483 |
79.918 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
56.246 |
17.412 |
28.850 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
116.593 |
32.071 |
51.068 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
7.77 |
4.58 |
10.21 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover [Approximately] |
|
|
2450.000 |
Expected Sales (2014-15) : Rs.2500.000 Millions.
The above information has been parted by Mr. Nama.
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.75
|
1.94 |
4.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.40
|
4.05 |
9.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.25 |
0.55 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.96
|
2.50 |
2.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.20
|
0.98 |
1.00 |
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 |
50.000 |
70.000 |
150.000 |
|
Reserves & Surplus |
84.297 |
126.367 |
232.961 |
|
Net worth |
134.297 |
196.367 |
382.961 |
|
|
|
|
|
|
long-term borrowings |
219.488 |
295.427 |
168.442 |
|
Short term borrowings |
177.936 |
195.560 |
199.576 |
|
Total borrowings |
397.424 |
490.987 |
368.018 |
|
Debt/Equity ratio |
2.959 |
2.500 |
0.961 |
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) |
|
Total Income |
1110.712 |
1649.490 |
2455.858 |
|
|
|
48.507 |
48.886 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Total Income |
1110.712 |
1649.490 |
2455.858 |
|
Profit |
51.068 |
32.071 |
116.593 |
|
|
4.60% |
1.94% |
4.75% |
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 |
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] |
PAN of Proprietor/Partner/Director, if available |
Yes |
|
32] |
Date
of Birth 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 |
NOTE:
The registered address of the company has been shifted from Plot No 146 to 157, Chandramauli
Industrial Co-operative Estate Mohol - 413213, Maharashtra, India to the present w.e.f.11.11.2011.
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10421265 |
17/04/2013 |
6,991,040.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B73625329 |
|
2 |
10425071 |
22/03/2013 |
24,800,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B74920067 |
|
3 |
10395649 |
31/12/2012 |
47,859,967.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B65377608 |
|
4 |
10320359 |
22/10/2011 |
10,051,088.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
B26462036 |
|
5 |
10244970 |
18/10/2010 |
25,820,127.00 |
ELECTRONICA FINANCE LIMITED |
128/A, PLOT NO.3,KAILASHCHANDRA APPARTMENTS, PAUD ROAD, KOTHRUD, PUNE, MAHARASHTRA - 411038, INDIA |
A96513643 |
|
6 |
10198183 |
17/10/2011 * |
745,500,000.00 |
STATE BANK OF INDIA |
RAJAMATI BHAVAN, BHUSAR PETH, MOHOL, SOLAPUR, MAHARASHTRA - 413213, INDIA |
B24945149 |
Note: *
Date of charge modification
|
Unsecured Loan |
As
on 31.03.2013 [Rs. in Millions] |
As
on 31.03.2012 [Rs. in Millions] |
|
Long Term
Borrowings |
|
|
|
Deposit from directors |
1.785 |
71.921 |
|
Deposits from others |
18.507 |
28.675 |
|
TOTAL
|
20.292 |
100.596 |
FIXED ASSETS:
· Land
· Buildings
· Office Building
· Plant and Equipment
· Furniture and Fixtures
· Vehicles
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 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.60.05 |
|
|
1 |
Rs.101.65 |
|
Euro |
1 |
Rs.83.07 |
INFORMATION DETAILS
|
Information
Gathered by : |
PRT |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TPT |
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 |
5 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
41 |
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.