MIRA
INFORM REPORT
|
Report Date : |
12.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SWASTIK CERACON LIMITED (w.e.f. 27.04.2010) |
|
|
|
|
Formerly Known
As : |
MARBOLITE GRANITO INDIA LIMITED |
|
|
|
|
Registered
Office : |
D/801-807, Ganesh Meridian, Opposite Amiraj Farm, Nr. Gujarat High Court, S.G.Highway,
Ahmedabad – 380060, Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
31.01.2005 |
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|
|
|
Com. Reg. No.: |
04-045383 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 222.117 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U26920GJ2005PLC045383 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM07596B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCM4519E |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Tiles. |
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|
|
|
No. of Employees
: |
700 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2070000 |
|
|
|
|
Status : |
Moderate |
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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 moderate track record. Management has seen an increase in its net profitability during 2013. The ratings also take into consideration the high working capital
requirements which are further moderately withstand by infusion of funds from
the part of the promoters. Trade relations appears to be fair. Business is active. Payment terms
are reported as slow but correct. In view of extensive experience of the promoters, the subject can be
considered for the business dealings 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
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long term rating : “B-” |
|
Rating Explanation |
High risk of default regarding timely servicing of financial
obligations. |
|
Date |
07.03.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short term rating: “A4” |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
07.03.2014 |
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. Parth Shah |
|
Designation : |
Finance Department |
|
Date : |
11.03.2014 |
LOCATIONS
|
Registered /
Corporate Office: |
D/801-807, Ganesh Meridian, Opposite Amiraj Farm, Nr. Gujarat High Court, S.G. Highway, Ahmedabad – 380060, Gujarat, India |
|
Tel. No. : |
91-79-40097072 |
|
Mobile No. : |
91-9909964923 (Mr. Parth Shah) |
|
Fax No. : |
91-79-29244721 |
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E-Mail : |
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|
Website : |
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|
Location: |
Owned |
|
|
|
|
Factory 1: |
At P.O. Palaj, Mehsana-Becharaji Road, Taluka:
Mehsana - 384410, Gujarat, India |
|
|
|
|
Factory 2: |
25, Sobhasan Road, Mehsana - 384002, Gujarat, India |
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|
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Factory 3: |
At P.O. Nandasan, Ahmedabad-Mehsana Highway, Taluka:
Kadi, Mehsana - 382706,
Gujarat, India |
|
|
|
|
Factory 4: |
Ceramic Zone, St. At P.O. Dalpur,
Katwad Road, Ahmedabad-Himatnagar
Highway, District: Sabarkantha, Himatnagar
- 383120, Gujarat, India |
|
|
|
|
Regional Office /
Showrooms: |
Located at Ahmedabad New Delhi Mumbai Chennai Cochin |
DIRECTORS
As on 28.09.2013
|
Name : |
Girishkumar Jayantibhai Patel |
|
Designation : |
Managing Director |
|
Address : |
21, Sarnam Bunglow, Near Chandan Party Plot, Vejapur, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
04.04.1970 |
|
Qualification : |
B.Com |
|
Experience : |
18 Years |
|
Date of Appointment : |
31.01.2005 |
|
PAN No.: |
AGPPP6709C |
|
DIN No. : |
00426120 |
|
|
|
|
Name : |
Pankaj Narayanbhai Patel |
|
Designation : |
Director |
|
Address : |
8, Rudravan Bunglows, Near Someshwar Park, Gulab Tower, Thaltej, Ahmedabad – 380054, Gujarat, India |
|
Date of Birth/Age : |
10.06.1971 |
|
Qualification : |
B.E. |
|
Date of Appointment : |
03.01.2013 |
|
PAN No. : |
AGWPP2869E |
|
DIN No. : |
01320345 |
|
|
|
|
Name : |
Ashok Kumar Garg |
|
Designation : |
Director |
|
Address : |
A-11, Orchid Park, Near Anjali Tower, Ramdev Nagar, Ahmedabad – 380051, Gujarat, India |
|
Date of Birth/Age : |
30.12.1966 |
|
Qualification : |
M.B.A |
|
Date of Appointment : |
02.01.2012 |
|
PAN No. : |
ACTPG0753B |
|
DIN No. : |
05127905 |
KEY EXECUTIVES
|
Name : |
Mr. Parth Shah |
|
Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2013
|
Name of
Shareholders |
No. of Shares |
|
Girishbhai J. Patel |
3205223 |
|
Jayendra Bhai
Patel |
5000 |
|
Pankajbhai N. Patel |
617073 |
|
Rakeshbhai Kacharabhai
Patel |
406248 |
|
Ramanbhai M. Patel |
9000 |
|
Sanjaybhai N. Patel |
265190 |
|
Vijaybhai Dinkarrai
Maniar |
866218 |
|
Anilbhai Shankarlal
Patel |
269658 |
|
Arvindkumar Dwarkadas
Patel |
361810 |
|
Babubhai Shankarbhai
Patel |
278319 |
|
Bhagvatiben Ramanbhai
Patel |
90000 |
|
Bipinbhai Mulshakarbhai
Patel |
410474 |
|
Chandubhai Bhikhabhai
Patel |
214302 |
|
Dixitbhai Chandubhai
Patel |
55187 |
|
Hansaben Anilbhai
Patel |
13000 |
As on 28.09.2013
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial
institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others |
4.41 |
|
Bodies corporate |
13.03 |
|
Directors or relatives of Directors |
23.73 |
|
Other top fifty shareholders |
58.83 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Tiles. |
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Products : |
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Exports : |
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Products : |
Finished Good |
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Countries : |
· Poland Argentina |
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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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Purchasing : |
Depend |
GENERAL INFORMATION
|
Suppliers : |
Sabarmathi Gas Limited |
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Customers : |
Others · Swastick Tiles |
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No. of Employees : |
700 (Approximately) |
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Bankers : |
· State Bank of India, Industrial Finance Branch, 2nd Floor, Neptune Annexe, Ellisbridge, Ahmedabad - 380006, Gujarat, India The Mehsana Uraban
Co Operative Bank Limited Dena Bank |
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Facilities : |
NOTE The secured loans from State Bank of India, Dena Bank and
The Mehsana Uraban Co
Operative Bank Limited are secured by hypothecation of Plant and Machinery,
EM over Land, at. Unit 1 - 254, Village Palaj,
Dist. Mehsana, Gujarat, Unit 2 , Survey No. 25, Shobhasan, Mehsana,Gujarat,
Unit 3 , Survey No. 1071-1074, Nandasan, Ta: Kadi, mehsana and Unit 4 ,
Block no. 180-P, Dalpur, Ta: prantij,
Dist: Sabarkantha, Gujarat Further secured by the
hypothecation of entire present and future current assets of the company and
second charge over the fixed assets of an associate concern |
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution: |
Religare Finvest Limited, D3, P3B, District Centre, Saket, New Delhi - 110017, India |
|
|
|
|
Auditors : |
|
|
Name : |
R.R.S and Associates Chartered Accountants |
|
Address : |
211, Kamal Complex, Opposite State Bank of India, Near Stadium Circle , Navrangpura, Ahmedabad, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AAFFR0472A |
|
|
|
|
Associate: |
· Gladder Ceramics Limited CIN No.:U26933GJ2002PLC041253 Vimal Oil and
Foods Limited CIN No.:L15400GJ1992PLC017626 |
CAPITAL STRUCTURE
As on 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
23,500,000 |
Equity Shares |
Rs.10/- each |
Rs. 235.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,211,707 |
Equity Shares |
Rs.10/- each |
Rs. 222.117 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 |
222.117 |
118.000 |
118.000 |
|
(b) Reserves & Surplus |
295.999 |
89.656 |
64.332 |
|
(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) |
518.116 |
207.656 |
182.332 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
505.329 |
258.661 |
264.496 |
|
(b) Deferred tax liabilities (Net) |
52.969 |
19.449 |
12.895 |
|
(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) |
558.298 |
278.110 |
277.391 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
490.115 |
138.245 |
122.047 |
|
(b) Trade payables |
311.849 |
136.758 |
106.155 |
|
(c) Other current
liabilities |
183.096 |
66.097 |
69.205 |
|
(d) Short-term provisions |
20.984 |
7.139 |
8.550 |
|
Total Current Liabilities (4) |
1,006.044 |
348.239 |
305.957 |
|
|
|
|
|
|
TOTAL |
2,082.458 |
834.005 |
765.680 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
1,002.399 |
448.060 |
437.487 |
|
(ii) Intangible Assets |
0.513 |
0.129 |
0.042 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
5.592 |
0.000 |
0.000 |
|
(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 |
11.627 |
1.660 |
17.220 |
|
Total Non-Current Assets |
1,020.131 |
449.849 |
454.749 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
470.264 |
173.765 |
145.516 |
|
(c) Trade receivables |
462.115 |
151.366 |
119.436 |
|
(d) Cash and cash
equivalents |
26.533 |
8.433 |
8.084 |
|
(e) Short-term loans and
advances |
6.505 |
2.226 |
11.683 |
|
(f) Other current assets |
96.910 |
48.366 |
26.212 |
|
Total Current Assets |
1,062.327 |
384.156 |
310.931 |
|
|
|
|
|
|
TOTAL |
2,082.458 |
834.005 |
765.680 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
1716.878 |
769.378 |
665.354 |
|
|
|
Other Income |
15.271 |
1.527 |
3.354 |
|
|
|
TOTAL (A) |
1732.149 |
770.905 |
668.708 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of materials consumed |
584.890 |
219.217 |
213.937 |
|
|
|
Purchases of stock-in-trade |
8.204 |
42.985 |
20.411 |
|
|
|
Changes in inventories of finished goods, work-in-progress and stock-in-trade |
(36.832) |
(25.020) |
(55.581) |
|
|
|
Employee benefit expense |
198.149 |
58.857 |
46.669 |
|
|
|
Other expenses |
738.361 |
350.863 |
326.303 |
|
|
|
TOTAL (B) |
1492.772 |
646.902 |
551.739 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (A-B) (C) |
239.377 |
124.003 |
116.969 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
143.044 |
61.472 |
50.551 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
96.333 |
62.531 |
66.418 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
18.467 |
29.890 |
26.648 |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
77.866 |
32.641 |
39.770 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
4.932 |
7.317 |
(2.694) |
|
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-H) (I) |
72.934 |
25.324 |
42.464 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
5.744 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
NA |
NA |
41.009 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
3.28 |
2.15 |
2.54 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
4.21
|
3.28 |
6.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.54
|
4.24 |
5.98 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.75
|
3.91 |
5.19 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.16 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.92
|
1.91 |
2.12 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.06
|
1.10 |
1.02 |
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 |
118.000 |
118.000 |
222.117 |
|
Reserves & Surplus |
64.332 |
89.656 |
295.999 |
|
Net
worth |
182.332 |
207.656 |
518.116 |
|
|
|
|
|
|
Long-term borrowings |
138.245 |
258.661 |
505.329 |
|
Short term borrowings |
122.047 |
138.245 |
490.115 |
|
Total
borrowings |
260.292 |
396.906 |
995.444 |
|
Debt/Equity
ratio |
1.428 |
1.911 |
1.921 |
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 |
665.354 |
769.378 |
1716.878 |
|
|
|
15.634 |
123.151 |
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 |
665.354 |
769.378 |
1716.878 |
|
Profit |
42.464 |
25.324 |
72.934 |
|
|
6.38% |
3.29% |
4.25% |
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 |
No |
|
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 |
Yes |
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10389565 |
26/03/2013 * |
60,500,000.00 |
THE MEHSANA URBAN CO-OPERATIVE BANK LIMITED |
URBAN BANK ROAD, HIGHWAY, MEHSANA - 384002, GUJARAT, INDIA |
B72638661 |
|
2 |
10389562 |
07/11/2012 |
50,000,000.00 |
THE MEHSANA URBAN CO-OPERATIVE BANK LIMITED |
URBAN BANK ROAD, HIGHWAY, MEHSANA - 384002, GUJARAT, INDIA |
B63183800 |
|
3 |
10313287 |
03/10/2011 |
30,000,000.00 |
THE MEHSANA URBAN COOPERATIVE BANK LIMITED |
MAIN BRANCH, URBAN BANK ROAD, HIGHWAY, MEHSANA - 384002, GUJARAT, INDIA |
B23569726 |
|
4 |
10237931 |
03/08/2010 |
60,000,000.00 |
THE MEHSANA URBAN CO-OPERATIVE BANK LIMITED |
URBAN BANK ROAD, HIGHWAY, MEHSANA - 384002, GUJARAT, INDIA |
A92977164 |
|
5 |
10237934 |
03/08/2010 |
20,000,000.00 |
THE MEHSANA URBAN CO-OPERATIVE BANK LIMITED |
URBAN BANK ROAD, HIGHWAY, MEHSANA - 384002, GUJARAT, INDIA |
A92977396 |
|
6 |
10237935 |
03/08/2010 |
40,000,000.00 |
THE MEHSANA URBAN CO-OPERATIVE BANK LIMITED |
URBAN BANK ROAD, HIGHWAY, MEHSANA - 384002, GUJARAT, INDIA |
A92977560 |
|
7 |
10208580 |
12/03/2012 * |
249,100,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE
BRANCH, AHMEDABAD, 1ST FLOOR, |
B38816732 |
|
8 |
10141960 |
19/04/2012 * |
253,500,000.00 |
DENA BANK |
INDUSTRIAL FINANCE
BRANCH, 2ND FLOOR, DENA LAXMI |
B38637872 |
|
9 |
10119736 |
17/04/2012 * |
253,500,000.00 |
DENA BANK |
INDUSTRIAL FINANCE
BRANCH, 2ND FLOOR, DENA LAXMI |
B38637641 |
|
10 |
10063494 |
04/07/2008 * |
510,000,000.00 |
STATE BANK OF INDIA |
CORPORATE FINANCE
BRANCH, 58, SHRIMALI SOCIETY, |
A44365690 |
|
11 |
10063503 |
04/07/2008 * |
510,000,000.00 |
STATE BANK OF INDIA |
CORPORATE FINANCE BRANCH, 58, SHRIMALI SOCIETY, NAVRANGPURA, AHMEDABAD - 380009, GUJARAT, INDIA |
A44251429 |
|
12 |
10025475 |
24/03/2011 * |
242,300,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, NEPTUNE ANNEXE, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B11514635 |
|
13 |
10025477 |
24/03/2011 * |
472,500,000.00 |
STATE BANK OF INDIA |
INDUSTRIAL FINANCE BRANCH, 2ND FLOOR, NEPTUNE ANNEXE, ELLISBRIDGE, AHMEDABAD - 380006, GUJARAT, INDIA |
B11513777 |
* Date of charge modification
UNSECURED LOANS
|
PARTICULAR |
31.03.2013 (Rs. In Millions) |
31.03.2012 (Rs. In Millions) |
|
LONG TERM BORROWINGS |
|
|
|
Loans repayable on demand from others |
5.474 |
9.053 |
|
Intercorporate borrowings |
122.234 |
55.399 |
|
Deposits from others |
138.702 |
63.945 |
|
Loans and advances from related parties |
73.507 |
5.682 |
|
Total |
339.917 |
134.079 |
FUTURE PROSPECTS
The Hon’ble Gujarat High Court has already approved the Amalgamation scheme, by which Ashok Ceracon Private Limited (ACPL), Akik Tiles Limited (ATL) and Gladder Ceramics Limited (GCL) were merged with The Company and the company become a resultant Company.
The Amalgamation of ACPL, ATL and GCL into SCL will result into consolidation of the business of all the companies in one entity and strengthening the position of the merged entity by enabling it to harness and optimize the synergies of all the four companies. Further, it will also result in reduction of overheads and other expenses, facilitate administrative convenience and ensure optimum utilization of available services and resources.
Consequent to the above developments, the Company’s capacity stands augmented to 1,95,000 MTPA, placing it among the top tiles manufacturing companies in the State and Country.
FIXED ASSETS
v
Tangible
Assets
Land
Buildings
Plant
and Equipment
Furniture
and Fixtures
Vehicles
Motor
Vehicles
Office
Equipment
Computer
Equipments
Other
Equipments
v
Intangible Assets
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 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 : |
PDT |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
MRI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
30 |
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.