MIRA
INFORM REPORT
|
Report Date : |
15.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHOLAYIL PRIVATE LIMITED (w.e.f. 27.12.2005) |
|
|
|
|
Formerly Known
As : |
CHOLAYIL PHARMACEUTICALS PRIVATE LIMITED |
|
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Registered
Office : |
No.8, J Block, 6th Avenue, Anna Nagar East, Chennai –
600102, Tamilnadu |
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Country : |
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|
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
08.07.1994 |
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Com. Reg. No.: |
18-086675 |
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Capital
Investment / Paid-up Capital : |
Rs.18.195 Millions |
|
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|
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CIN No.: [Company Identification No.] |
U24233TN1994PTC086675 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC02060C |
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|
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PAN No.: [Permanent Account No.] |
AAACC3123B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Marketing of Personal Care Products. |
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No. of Employees
: |
650 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (35) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 1700000 |
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|
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 track. The company possesses an acceptable financial profile marked by
adequate networth base along with working capital intensive operations
resulting in huge dependence an external borrowings. Management has reported an increase in its sales turnover but has
incurred a loss during FY 13. The ratings also take into consideration the brand extension and
introduction of new products in the market during the year under review. Trade relations seems to be fair. Business is active. Payment terms
are reported as slow but correct. In view of long standing experience of the promoters and prevailing
reputation in the market, the subject can be considered for business dealings
with some cautions. |
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. Methivanam |
|
Designation : |
Accounts Head |
|
Contact No.: |
91-44-66771600 |
|
Date : |
13.05.2014 |
LOCATIONS
|
Registered Office : |
8, J Block, 6th Avenue, Anna Nagar East, Chennai – 600102,
Tamilnadu, India |
|
Tel. No.: |
91-44-66771600 |
|
Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
|
Locality : |
Commercial |
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Factory 1 and Depot : |
1/106, Sri Kalahasthi Road, Tada – 524401, Andhra Pradesh, India |
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|
|
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Factory 2 and Depot : |
Plot No.8, Sector 6B, Sidcul complex, Haridwar, India |
DIRECTORS
(AS ON 30.09.2013)
|
Name : |
Mr. Pradeep Cholayil |
|
Designation : |
Managing Director |
|
Address : |
Cholayil lllam No.25, I- Block, 1st Main Road, Anna Nagar
East, Chennai – 600102, Tamilnadu, India |
|
Date of Birth/Age : |
16.05.1963 |
|
Date of Appointment : |
08.07.1994 |
|
PAN No.: |
AAAPP7800P |
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DIN No.: |
00079798 |
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|
|
|
Name : |
Mrs. Kollechery Prabhakaran Jayadevi |
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Designation : |
Director |
|
Address : |
Cholayil lllam No.25, I- Block, 1st Main Road, Anna Nagar
East, Chennai – 600102, Tamilnadu, India |
|
Date of Birth/Age : |
16.10.1964 |
|
Date of Appointment : |
01.11.2003 |
|
PAN No.: |
AAAPJ7400P |
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DIN No.: |
00079878 |
KEY EXECUTIVES
|
Name : |
Mr. Methivanam |
|
Designation : |
Accounts Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2013)
|
Name of
Shareholders |
|
No of
Shares |
|
|
|
|
|
Pradeep Cholayil |
|
1431567 |
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Kollechery Prabhakaran Jayadevi |
|
297000 |
|
M K Sowbhagyam |
|
90977 |
|
|
|
|
|
Total
|
|
1819544 |
(AS ON 02.12.2013)
|
Name of
Allottees |
|
No of Shares
Allotted |
|
|
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|
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Pradeep Cholayil |
|
707500 |
|
Kollechery Prabhakaran Jayadevi |
|
420000 |
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Total
|
|
1127500 |
(AS ON 30.09.2013)
Equity Shares Break – up
|
Category |
|
Percentage |
|
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|
|
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Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Marketing of Personal Care Products. |
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Products : |
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Agencies Held : |
· Medimix · Krishna Tulsi |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· Gulf Countries · Europe |
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Terms : |
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Selling : |
L/C and Credit ( days) |
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Purchasing : |
L/C and Credit ( days) |
GENERAL INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees : |
650 (Approximately) |
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Bankers : |
· HDFC Bank HDFC
Bank Housesenapati Bapat Marg, Lower Parel West, Mumbai-400013, Maharashtra,
India ·
HDFC Bank R. K. Salai, Chennai, Tamilnadu, India ·
Axis Bank Limited CMC Centre, First Floor, Karumuttu Nilayam, No.192, Anna salai,
Chennai – 600002, Tamilnadu, India ·
State Bank of India Siruthozhil Branch, No.2, Valluvarkottam High Road, Nungambakka,
Chennai – 600034, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Joseph and Rajaram Chartered Accountants |
|
Address : |
No.21,
Mahatma Gandhi Road, Nungambakkam, Chennai - 600034, Tamilnadu, India |
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PAN No.: |
AABFJ6144M |
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Subsidiaries : |
·
Cholayil Pure and Natural Foods Private
Limited |
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Enterprises
owned or influenced by Key Managerial Personnel or their relatives: |
·
Dr. Sidhan’s Herbal Formulation (Private) Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2947044 |
Equity Shares |
Rs.10/- each |
Rs.29.470
Millions |
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|
(AS ON 31.03.2013)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1819544 |
Equity Shares |
Rs.10/- each |
Rs.18.195
Millions |
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|
|
|
|
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 |
18.195 |
18.195 |
16.695 |
|
(b) Reserves & Surplus |
407.283 |
432.621 |
296.674 |
|
(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) |
425.478 |
450.816 |
313.369 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
27.719 |
44.386 |
2.300 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
10.167 |
|
(c) Other long term liabilities |
16.382 |
16.682 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
44.101 |
61.068 |
12.467 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
149.267 |
35.717 |
0.000 |
|
(b) Trade payables |
99.599 |
123.838 |
31.197 |
|
(c) Other current
liabilities |
29.686 |
28.458 |
3.579 |
|
(d) Short-term provisions |
64.754 |
117.928 |
46.686 |
|
Total Current Liabilities (4) |
343.306 |
305.941 |
81.462 |
|
|
|
|
|
|
TOTAL |
812.885 |
817.825 |
407.298 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
216.383 |
230.063 |
179.340 |
|
(ii) Intangible Assets |
49.832 |
62.041 |
3.940 |
|
(iii) Capital
work-in-progress |
0.000 |
0.790 |
1.326 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
18.594 |
23.498 |
17.649 |
|
(c) Deferred tax assets (net) |
13.802 |
9.304 |
0.000 |
|
(d) Long-term Loan and Advances |
7.430 |
5.891 |
1.509 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current Assets |
306.041 |
331.587 |
203.764 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
202.191 |
151.179 |
94.889 |
|
(c) Trade receivables |
48.350 |
40.904 |
21.234 |
|
(d) Cash and cash
equivalents |
24.242 |
6.792 |
13.005 |
|
(e) Short-term loans and
advances |
171.843 |
162.643 |
35.207 |
|
(f) Other current assets |
60.218 |
124.720 |
39.199 |
|
Total Current Assets |
506.844 |
486.238 |
203.534 |
|
|
|
|
|
|
TOTAL |
812.885 |
817.825 |
407.298 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
1313.154 |
1119.431 |
635.488 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
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|
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|
|
PROFIT/(LOSS)
BEFORE TAX |
(18.453) |
13.382 |
24.112 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
(3.700) |
2.198 |
3.900 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
(14.753) |
11.184 |
20.212 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
139.823 |
128.639 |
108.427 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
125.070 |
139.823 |
128.639 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
(8.11) |
6.15 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Net Profit Margin (PBT/Sales) |
(%) |
(1.41) |
1.20 |
3.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.36) |
1.71 |
6.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.04) |
0.03 |
0.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.42 |
0.18 |
0.01 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.48 |
1.59 |
2.50 |
FINANCIAL ANALYSIS
[All figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
16.695 |
18.195 |
18.195 |
|
Reserves & Surplus |
296.674 |
432.621 |
407.283 |
|
Net worth |
313.369 |
450.816 |
425.478 |
|
|
|
|
|
|
long-term borrowings |
2.300 |
44.386 |
27.719 |
|
Short term borrowings |
0.000 |
35.717 |
149.267 |
|
Total borrowings |
2.300 |
80.103 |
176.986 |
|
Debt/Equity ratio |
0.007 |
0.178 |
0.416 |
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
635.488 |
1,119.431 |
1,313.154 |
|
|
|
76.153 |
17.305 |
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Turnover |
635.488 |
1,119.431 |
1,313.154 |
|
Profit |
20.212 |
11.184 |
(14.753) |
|
|
3.18% |
1.00% |
(1.12%) |
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
No |
|
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 LOANS
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In Millions) |
|
|
Long Term
Borrowings |
|
|
|
Loans and Advances from Directors |
20.775 |
20.775 |
|
|
|
|
|
Total |
20.775 |
20.775 |
NOTE:
The Registered office of the company has been
shifted form 283/1, Odhiampet Village Villianur. Pondicherry – 605110,
Pondicherry, India to the present address w.e.f. 06.07.2012.
FINANCIAL
During the year, the
company re-launched all variants of its Medimix brand of soaps along with
Krishna Thulasi soap with fresh packaging and new form in all its marketing
territories. Further, as a part of brand extension, the company also launched
new products viz. Medimix Face-wash, Medimix Prickly Heat Talc, Sadev soap and
Cuticura Pearl soap. The benefits of the product development expenses on
account of the above are expected to accrue over two years.
MERGER:
A group company Dorcas
Market Makers Private Limited (DMMPL) was merged with the company with effect
from 01st April 2011 vide order of the Hon’ble High Court of Madras in C.P. No.
169 and 170 of 2012 passed on 23rd January 2013.
BUSINESS ACTIVITY
The company could show a
significant increase in the sales during the year. The company was engaged in
the brand expansion and introducing new products in the market. The company was
trying to raise funds through IPO during the year which did not materialize.
The company’s registered office was shifted from the State of Pudhucherry to
State of Tamilnadu (Chennai). The Merger of Dorcas market Makers Private
Limited effective from 01.04.2011 enabled the company to secure a higher
turnover during the last two years. The company is trying to introduce various
herbal cosmetics and medical products during the current year.
CONTINGENT LIABILITIES
|
Particulars |
31.03.2013 |
31.03.2012 |
|
|
(Rs. In
Millions) |
|
|
Guarantees |
1.100 |
1.000 |
|
Other
money for which company is contingently liable |
244.571 |
102.748 |
INDEX OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge Creation/ Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10469899 |
14/11/2013 |
95,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B93407260 |
|
2 |
10454988 |
29/08/2013 |
38,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B87538708 |
|
3 |
10398819 |
21/12/2012 |
40,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE SENAPATI
BAPAT MARG, LOWER PAREL |
B66415464 |
|
4 |
10378110 |
22/08/2012 |
20,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B58728551 |
|
5 |
10342337 |
26/07/2013 * |
263,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B83657031 |
|
6 |
10310051 |
12/08/2011 |
75,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B22483143 |
|
7 |
10310055 |
12/08/2011 |
50,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B22484794 |
|
8 |
10339636 |
28/07/2011 |
75,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B21485156 |
|
9 |
10292451 |
30/05/2011 |
20,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
B15084866 |
|
10 |
10057747 |
16/05/2007 |
23,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A17908617 |
|
11 |
10058775 |
09/03/2007 |
155,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A14474407 |
|
12 |
10021393 |
13/11/2008 * |
60,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A54005251 |
|
13 |
90295431 |
24/06/2010 * |
208,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSESENAPATI
BAPAT MARG, LOWER PAREL W, MUMBAI, MAHARASHTRA - 400013, INDIA |
A89213169 |
|
14 |
90293934 |
20/08/2002 * |
47,500,000.00 |
THE FEDERAL BANK |
ANNA NAGAR BRANCH,
CHENNAI, TAMIL NADU - 600040, INDIA |
-- |
* Date of charge modification
FIXED ASSETS
·
Land
·
Buildings
·
Plant and Equipment
·
Furniture and Fixtures
·
Vehicles
·
Motor Vehicles
·
Office Equipment
·
Computer
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 records 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.59.88 |
|
|
1 |
Rs.100.98 |
|
Euro |
1 |
Rs.82.40 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--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 |
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 |
|
35 |
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.