MIRA
INFORM REPORT
|
Report Date : |
13.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHANDRESH CABLES LIMITED |
|
|
|
|
Registered
Office : |
413/C, Vasant Wadi, 4th Floor, Room No.28, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
21.12.1981 |
|
|
|
|
Com. Reg. No.: |
11-025897 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.20.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31300MH1981PLC025897 |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Cables and Wires. |
|
|
|
|
No. of Employees
: |
250 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1260000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having moderate track record. As per registrar of companies the date of balance sheet (i.e. financial
filed) is shown as 31.03.2013 but the documents related to the financials are
not available from any source. Mr. Harsh Murarka, Accounts Executive provided general information and
also informed that the company has achieved sales turnover of Rs.1000.000
Millions in the year 2012-13, which is not verified. As per financials of 2012, profitability of the company is low. However, Trade relations are fair. Business is active. Payment terms
are slow but correct. The company can be considered for business dealing with some caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
CARE |
|
Rating |
BB (Suspended): Long Term Bank Facilities. |
|
Rating Explanation |
Inadequate credit quality and high credit risk. |
|
Date |
August 21, 2013 |
|
Rating Agency Name |
CARE |
|
Rating |
A4 (Suspended): Short Term Bank Facilities. |
|
Rating Explanation |
Minimal degree of safety and very high credit risk. |
|
Date |
August 21, 2013 |
Reason of Suspension: Company not furnished information required by care.
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. Harsh Murarka |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-79-25623055 |
|
Date : |
12.05.2014 |
LOCATIONS
|
Registered Office : |
413/C, Vasant Wadi, 4th Floor, Room No.28, Kalabadevi Road, Mumbai –
400002, Maharashtra, India |
|
Tel. No.: |
91-22-22089723 |
|
Mobile No.: |
91-9428355199 (Mr. Uday Narvekar) |
|
Fax No.: |
91-22-22063059 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
|
|
|
|
Corporate Office/
Head Office : |
G-6, Madhavpura Market, Near Police Commissioner's Office,
Shahibaug Road, Ahmedabad - 380004,
Gujarat, India |
|
Tel. No.: |
91-79-25623055/ 25623056/ 25623057 |
|
Fax No.: |
91-79-25626067 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Block No. 1108, Chhatral,
Taluka Kalol (Gandhinagar), Gujarat, India |
|
Tel. No.: |
91-2764-232251/ 233352 |
|
Fax No.: |
91-2764-234151 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2013
|
Name : |
Mr. Khimraj Ganeshmal Balar |
|
Designation : |
Director |
|
Address : |
2 Rita Park Society, Shahibaug, Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
15.04.1938 |
|
Date of Appointment : |
06.01.1989 |
|
DIN No.: |
00244018 |
|
|
|
|
Name : |
Mr. Rajendra Khimraj Jain |
|
Designation : |
Director |
|
Address : |
2 Rita Park Society, Shahibaug, Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
05.08.1965 |
|
Date of Appointment : |
06.01.1989 |
|
DIN No.: |
00243834 |
|
|
|
|
Name : |
Mr. Anil Khimraj Jain |
|
Designation : |
Director |
|
Address : |
2 Rita Park Society, Shahibaug, Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
22.11.1969 |
|
Date of Appointment : |
11.10.2007 |
|
DIN No.: |
00243912 |
|
|
|
|
Name : |
Mr. Abhivandan Chandresh Lodha |
|
Designation : |
Director |
|
Address : |
15 Subhas Nagar Society, Shahibaug, Ahmedabad – 380004, Gujarat, India |
|
Date of Birth/Age : |
10.07.1983 |
|
Date of Appointment : |
30.09.2008 |
|
DIN No.: |
01820667 |
|
|
|
|
Name : |
Mr. Ankit Chandreshji Lodha |
|
Designation : |
Additional Director |
|
Address : |
15 Subhas Nagar Society, Shahibaug, Ahmedabad – 380004,
Gujarat, India |
|
Date of Birth/Age : |
15.01.1988 |
|
Date of Appointment : |
29.03.2013 |
|
DIN No.: |
06392001 |
KEY EXECUTIVES
|
Name : |
Mr. Harsh Murarka |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Jain R. Abhishek |
|
297000 |
|
Jain K Anilkumar |
|
429400 |
|
Balar Khimraj |
|
429800 |
|
Jain K Rajendrakumar |
|
424600 |
|
Jain Bharti |
|
145200 |
|
Jain A. Ritu |
|
195600 |
|
Jain Neha |
|
162000 |
|
Lodha Ankit |
|
399000 |
|
Lodha Abhivandan |
|
429600 |
|
Lodha Sumitra |
|
286000 |
|
Lodha Premkanwar |
|
92000 |
|
Anilkumar Khimraj Jain |
|
22200 |
|
Balar Khimrajj Anilkumar |
|
42200 |
|
Balar Khimaj Rajendra |
|
50200 |
|
Lodha Gumanmal |
|
1000 |
|
Khimraj Ganeshmal |
|
287000 |
|
Jain Rahul |
|
160000 |
|
Rajendra Khimraj Jain |
|
22200 |
|
Unnati Anil Jain |
|
14000 |
|
Chandresh Finance Limited, India |
|
202000 |
|
Chandresh Marketing Private Limited, India |
|
80000 |
|
Roopaji Ganeshmal |
|
22000 |
|
Balar Khimraj Rajendra |
|
2000 |
|
Lodha Advay Sumitra |
|
105000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cables and Wires. |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
UAE ·
Kenya ·
Nigeria ·
Iran ·
South Africa ·
Uganda ·
Sudan |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
Hindalco Industries Limited |
|||||||||||||||
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|
|||||||||||||||
|
Customers : |
End Users · Gujarat State Electricity Corporation Limited · Jaipur Vidyut Vitran Nigam Limited · Chennai Port Trust · Baroda Municipal Corporation · Ahmedabad Municipal Corporation · Adani Wilmar Limited · Torrent Pharmaceuticals Limited · Hindustan Zinc Limited · Nirma Limited · Asian Paints Limited · Sanghi Industries Limited · Ultratech Cement · Metrochem Industries · Transformers and Rectifiers (India) Limited · Reliance Energy Limited · Electrotherm Limited · Videocon Industries Limited · McNally Sayaji · Inger-soll Rand India Limited · Arvind Mills Limited ·
Alok Industries Limited |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
250 (Approximately) |
|||||||||||||||
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|
|||||||||||||||
|
Bankers : |
Dena Bank, Shahibaug Branch, Sanjay Society, Opposite Police Commissioner's Office, Ahmedabad - 380004, Gujarat, India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
Cash Credit Rs.250.000 Millions (From Dena
Bank) (Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mehta Lodha and Company Chartered Accountants |
|
Address : |
105 Sakar I, Ashram Road, Ahmedabad – 380009, Gujarat, India |
|
Tel. No.: |
91-79-26586683-85 |
|
Fax No.: |
91-79-26586684 |
|
PAN No.: |
AIQPS2509G |
|
|
|
|
Sister Concern : |
Name: Chandresh
Marketing Address: 413/C, Vasant
Wadi, 4th Floor, Room No.28, Kalabadevi Road, Mumbai – 400002, Maharashtra,
India Line of
Business: Manufacturer and Exporter of Cables and Wires. |
CAPITAL STRUCTURE
As on: 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2300000 |
Equity Shares |
Rs.10/- each |
Rs.23.000
Millions |
|
|
|
|
|
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
20.000 |
18.910 |
|
(b) Reserves & Surplus |
|
295.680 |
57.128 |
|
(c) Money received against
share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
|
1.550 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
317.230 |
76.038 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.849 |
0.370 |
|
(b) Deferred tax liabilities
(Net) |
|
9.410 |
8.470 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
|
10.259 |
8.840 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
236.524 |
230.627 |
|
(b) Trade payables |
|
77.706 |
43.939 |
|
(c) Other current liabilities |
|
6.500 |
8.792 |
|
(d) Short-term provisions |
|
1.197 |
0.780 |
|
Total
Current Liabilities (4) |
|
321.927 |
284.138 |
|
|
|
|
|
|
TOTAL |
|
649.416 |
369.016 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
308.027 |
66.780 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
2.197 |
2.939 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
Total
Non-Current Assets |
|
310.224 |
69.719 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
99.100 |
78.774 |
|
(c) Trade receivables |
|
226.531 |
164.777 |
|
(d) Cash and cash equivalents |
|
6.673 |
46.134 |
|
(e) Short-term loans and
advances |
|
6.191 |
9.133 |
|
(f) Other current assets |
|
0.697 |
0.479 |
|
Total
Current Assets |
|
339.192 |
299.297 |
|
|
|
|
|
|
TOTAL |
|
649.416 |
369.016 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
18.910 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
53.317 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
72.227 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
117.231 |
|
|
2] Unsecured Loans |
|
|
91.693 |
|
|
TOTAL BORROWING |
|
|
208.924 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.870 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
289.021 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
66.589 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
78.774 |
|
|
Sundry Debtors |
|
|
164.777 |
|
|
Cash & Bank Balances |
|
|
46.134 |
|
|
Other Current Assets |
|
|
0.479 |
|
|
Loans & Advances |
|
|
12.072 |
|
Total
Current Assets |
|
|
259.563 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
43.939 |
|
|
Other Current Liabilities |
|
|
8.792 |
|
|
Provisions |
|
|
0.780 |
|
Total
Current Liabilities |
|
|
37.131 |
|
|
Net Current Assets |
|
|
222.432 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
289.021 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
873.398 |
722.429 |
589.521
|
|
|
|
Power Generation Income |
0.000 |
0.000 |
2.968 |
|
|
|
Other Income |
0.357 |
0.429 |
0.263 |
|
|
|
TOTAL |
873.755 |
722.858 |
592.752 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Raw Material Consumed |
731.845 |
626.565 |
|
|
|
|
Purchases of Trading Goods |
21.680 |
1.142 |
|
|
|
|
Changes in Inventories of Finished Goods and Work in Progress |
(13.389) |
(7.990) |
|
|
|
|
Employee benefit expenses |
12.399 |
10.314 |
|
|
|
|
Other expenses |
79.262 |
58.779 |
|
|
|
|
TOTAL |
831.797 |
688.810 |
559.740 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
41.958 |
34.048 |
33.012 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
29.089 |
23.352 |
18.221 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
12.869 |
10.696 |
14.791 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
5.875 |
4.083 |
3.033 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
6.994 |
6.613 |
11.758 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.373 |
2.138 |
3.350 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
4.621 |
4.475 |
8.408 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
29.030 |
21.254 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Dividend |
NA |
NA |
0.540 |
|
|
|
Tax on Dividend |
NA |
NA |
0.092 |
|
|
BALANCE CARRIED
TO THE B/S |
NA |
NA |
29.030 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
1.023 |
NA |
|
|
TOTAL EARNINGS |
NA |
1.023 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.44 |
2.37 |
4.72 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
1000.000 |
|
|
|
|
|
The above information has been parted by Mr. Harsh Murarka.
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.53 |
0.62 |
1.42 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.80 |
0.92 |
1.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.08 |
1.79 |
3.61 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02 |
0.09 |
0.16 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.75 |
3.04 |
2.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.05 |
1.05 |
6.99 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
18.910 |
20.000 |
|
Reserves & Surplus |
57.128 |
295.680 |
|
Net
worth |
76.038 |
315.680 |
|
|
|
|
|
long-term borrowings |
0.370 |
0.849 |
|
Short term borrowings |
230.627 |
236.524 |
|
Total
borrowings |
230.997 |
237.373 |
|
Debt/Equity
ratio |
3.038 |
0.752 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
589.521 |
722.429 |
873.398 |
|
|
|
22.545 |
20.897 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2010 |
31.03.2011 |
31.03.2012 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
589.521 |
722.429 |
873.398 |
|
Profit |
8.408 |
4.475 |
4.621 |
|
|
1.43% |
0.62% |
0.53% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT
MATURITIES OF LONG-TERM DEBT DETAILS – NOT AVAILABLE
|
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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
UNSECURED LOAN
(Rs. In Millions)
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Deposit/ Loan from Related Parties
|
76.966 |
73.147 |
|
Deposit/ Loan from Others |
8.778 |
7.766 |
|
|
|
|
|
Total |
85.744 |
80.913 |
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10452548 |
16/08/2013 |
6,000,000.00 |
TATA CAPITAL FINANCIAL SERVICES LIMITED |
ONE FORBES,, DR. V. B. GANDHI MARG, FORT, MUMBAI, MAHARASHTRA - 400001, INDIA |
B86473790 |
|
2 |
10036306 |
26/12/2007 * |
40,000,000.00 |
DENA BANK |
SHAHIBAUG BRANCH, SANJAY SOCIETY, OPP.POLICE COM |
A30830244 |
|
3 |
90237945 |
17/01/2007 * |
11,410,000.00 |
DANA BANK |
SHAHIBAUG BRANCH, SANJAY SOCIETY, OPP.POLICE COM |
- |
|
4 |
90237233 |
11/01/2014 * |
345,000,000.00 |
DENA BANK |
SHAHIBAUG BRANCH, SANJAY SOCIETY, OPP.POLICE COM |
B95439261 |
|
5 |
90240390 |
11/01/2014 * |
345,000,000.00 |
DENA BANK |
SHAHIBAUG BRANCH, SANJAY SOCIETY, OPP.POLICE COM |
B95345559 |
|
6 |
90233804 |
04/02/1992 |
4,000,000.00 |
DENA BANK |
MASKATI MAREKT BRANCH, RELIEF ROAD, AHMEDABAD, GUJARAT - 380002, INDIA |
- |
|
7 |
90232639 |
04/02/1992 |
12,500,000.00 |
DENA BANK |
MASKATI MARKET BRANCH, RELIEF ROAD, AHMEDABAD, GUJARAT - 380002, INDIA |
- |
|
8 |
90235288 |
28/02/1985 * |
2,000,000.00 |
GUJARAT STATE FINANCIAL CORPORATION |
JALDARSHAN BUILDING; ASHRAM ROAD, NAVARANGAPURA, |
- |
|
9 |
90233275 |
28/02/1985 * |
2,000,000.00 |
GUJARAT INDUSTRIAL INVESTMENT CORPORATION LIMITED |
CHUNIBHAI CHAMBERS, ASHRAM ROAD, AHMEDABAD, GUJARAT - 380009, INDIA |
- |
* Date of charge modification
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.59.73 |
|
|
1 |
Rs.100.82 |
|
Euro |
1 |
Rs.82.22 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUM |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
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 |
|
32 |
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.